I recently embarked on a building project which I will complete in May but on second thought I should not have embarked on the project I only did it for my ego.

Now I am thinking of starting a internet co working space that can conveniently seat 50 people at once.

I am considering Lagos or Ibadan. My questions are

1. Will 75m-100m be enough for such a project? If 75m-100m won't be enough, how much do you think will be enough?

2. Is the business profitable?

3. What other business ideas can you suggest?

Thanks in advance

Though I don't have money to establish one myself. I will like to know too.

And what kind of Co-working Space? As in what Industry?

If you set up a co working space in central Lagos ( Surulere , Gbagada , Yaba etc) or Island maybe that will make sense but #75 M might not be enough . The average price for a co working space varies by location . In Lagos Mainland you will be looking at 2k / day ( X 50people = 100k /day ) .

VARIABLE EXPENSES
Stable and fast internet
Petrol or diesel
Electricity bill
Maintenance
Miscellaneous
Charge depreciation on fixed assets , include other cost too .

(Put an assumed figure for to this cost and you have the answer )

Note : selling the space at full capacity throughout the month or year is not feasible. A more realistic assumption is 1/3 .

Good luck

oliverwrites:
I recently embarked on a building project which I will complete in May but on second thought I should not have embarked on the project I only did it for my ego.

Now I am thinking of starting a internet co working space that can conveniently seat 50 people at once.

I am considering Lagos or Ibadan. My questions are

1. Will 75m-100m be enough for such a project? If 75m-100m won't be enough, how much do you think will be enough?

2. Is the business profitable?

3. What other business ideas can you suggest?

Thanks in advance

Currently,

Lagos
Ibadan
Abuja
And port are the main cities I see this working
But if you putting this within Lagos or Ibadan
The location becomes important
Meaning getting a good location will cost money
(I saw someone closed up a very nice place due to wrong location)
Lagos and Ibadan are still good ,but I doubt if this budget will be enough for a good location in Lagos

As for Ibadan,
There some areas that are worth going for
Are
Along challenge
Bodija
Then bashorun/akobo

Finally
Maybe you rent the place first...to be sure the location will work

I had interest in this ,hence my write-up here
So if you eventually settings it up
You got a free marketer on trial

pneumaticos:



Currently,

Lagos
Ibadan
Abuja
And port are the main cities I see this working
But if you putting this within Lagos or Ibadan
The location becomes important
Meaning getting a good location will cost money
(I saw someone closed up a very nice place due to wrong location)
Lagos and Ibadan are still good ,but I doubt if this budget will be enough for a good location in Lagos

As for Ibadan,
There some areas that are worth going for
Are
Along challenge
Bodija
Then bashorun/akobo

Finally
Maybe you rent the place first...to be sure the location will work

I had interest in this ,hence my write-up here
So if you eventually settings it up
You got a free marketer on trial

I think I am going ahead with this but will likely modify it. Like a shopping complex that has a co working space in it. I am willing to get it to 200m to make this work. And with a bit of GOD's blessing, I should be able to raise such an amount in 6 months.

oliverwrites:
I think I am going ahead with this but will likely modify it. Like a shopping complex that has a co working space in it. I am willing to get it to 200m to make this work. And with a bit of GOD's blessing, I should be able to raise such an amount in 6 months.

Respect in raising that under 6 months(sure you have it going)
I am looking for that amount too
For shortlets

pneumaticos:

Respect in raising that under 6 months(sure you have it going)
I am looking for that amount too
For shortlets

Do you think shortlets will be more lucrative? I am being pushed by 1. My health 2. The Exchange rate favouring me.

I am super determined to invest these amount in something that will continue to bring in good money for me while still living in a rented house. I have two ( both ongoing and not completed ) but zero intentions of living in any of them. Just for business hence I said it was a mistake.

harqinhola:
If you set up a co working space in central Lagos ( Surulere , Gbagada , Yaba etc) or Island maybe that will make sense but #75 M might not be enough . The average price for a co working space varies by location . In Lagos Mainland you will be looking at 2k / day ( X 50people = 100k /day ) .

VARIABLE EXPENSES
Stable and fast internet
Petrol or diesel
Electricity bill
Maintenance
Miscellaneous
Charge depreciation on fixed assets , include other cost too .

(Put an assumed figure for to this cost and you have the answer )

Note : selling the space at full capacity throughout the month or year is not feasible. A more realistic assumption is 1/3 .

Good luck

Thank you for this, I sincerely appreciate.

Bumping this for more opinions

oliverwrites:
Do you think shortlets will be more lucrative? I am being pushed by 1. My health 2. The Exchange rate favouring me.

I am super determined to invest these amount in something that will continue to bring in good money for me while still living in a rented house. I have two ( both ongoing and not completed ) but zero intentions of living in any of them. Just for business hence I said it was a mistake.

Shortlets is dependent on several factors and I don't see it that lucrative ( fast money)
But I wanted something in real estate
And I wanted a model that could deliver daily ( having a thousand of them wasn't bad)
And the funds for getting something Huge wasn't there

So I developed a model around real estate generally that could gaurantee daily return

I haven't implemented all of it to know how good this plans are
But we are currently in the developmental phase
Though the model were around existing models which I have seen to work

I

pneumaticos:


Shortlets is dependent on several factors and I don't see it that lucrative ( fast money)
But I wanted something in real estate
And I wanted a model that could deliver daily ( having a thousand of them wasn't bad)
And the funds for getting something Huge wasn't there

So I developed a model around real estate generally that could gaurantee daily return

I haven't implemented all of it to know how good this plans are
But we are currently in the developmental phase
Though the model were around existing models which I have seen to work

I

I wish you good luck in it. I am sure you will succeed if you do not give up.

Bumping this for more inputs.