₦airaland Forum

Hello Nairalanders,

It’s been a while I posted here. Feels good to be back.

I want to set up business for my wife with 10m capital, but we’re at a crossroad. We have 3 businesses in mind.

1. Pharmacy - We considered pharmacy because she spent years as an apprentice where she learnt the business of selling medicines and she has a license. However, from our research we discovered that she needs to hire a pharmacist. Another problem is the finding a location. We live in Ojodu and the area is filled with Pharmacies already.


2. Hair salon - Our second option is a modern salon where she will also be selling wigs and every other hair things. She can plait hair but she needs to upgrade her skills and possibly hire a stylist. But we know nothing about hair business. The importing and risks involved.


3. Food Mart - The last option is selling food stuff. My problem with this is that it might be very stressful for her especially because she wants to sell wholesales. Also, we both do not have any idea how the foodstuff business operates.


All I need, fellow Nairalanders, is advice on what business is less risky and profitable for her to run. I won’t be actively involved.


Thank you as you share you experience and expertise 🙏🏽


Lalasticlala
Seun

Assist to push to FP

Let her go with pharmacy since she's knowledge and experience on that already. All she needs to do is to discuss salary with the pharmacist she will employ and use the pharmacist license if need be, incase she doesn't have a license already.

Also, it's not a must for her to have it situated in ojodu, she can change location, all you need to discuss on is easing her mode of movement, probably, get her a car for that.

I don't see any problem with this issue.. Pharmacy seems to be the best to me.

Wishing you all the very best.

Broooo, put ur money for treasury bills .... Make e dey rest there dey yield some risk free interests while u decide on what to do ...

Don't let anyone fool u, 10million is a whole lot of money and must never enter the drain.

The pharmacy thingy, is sweet if u get a good location and u get a pharmacist/manage the finances well then ensure u are buying drugs directly from factories that make good drugs ...

Salon Think about it veeeery well before u put. money into this ...

Food Mart?? That's also dicey cos food is perishable ...

Whatever business u choose to do, start it with 1 million ... restrict everything to 1 milla ... to see how it works out then u can scale up with say 3 milla after studying for 3 to 6 months

Be extremely careful, so as not to lose ur funds oooo


ADDENDUM:

I consulted with my people for this field and I was reliably told u can try patent medicine store and register with NAPMED & PCN ...

U won't need a to hire a pharmacist and a pharmacist salary is about 250k which will likely kill your profits ...

Just add normal store goods like fleet (raid/baygon), air fresheners, cream, baby diapers, etc then add cold drinks/water to it ... U know, those daily need stuffs that people can't do without ... Get a good freezer to ensure people always get cold stuffs from u ...

No take shop on class A road ... find those class B or C roads (streets) ... E get why ... na cos of those regulatory bodies go wan use u chop die ...

Still limit the amount u spend on stuffs like this to not more than 3m ... Put the rest for treasury bill

Above all, pray oooo ... cos some people no want make person succeed for life

olafunny:
Hello Nairalanders,

It’s been a while I posted here. Feels good to be back.

I want to set up business for my wife with 10m capital, but we’re at a crossroad. We have 3 businesses in mind.

1. Pharmacy - We considered pharmacy because she spent years as an apprentice where she learnt the business of selling medicines and she has a license. However, from our research we discovered that she needs to hire a pharmacist. Another problem is the finding a location. We live in Ojodu and the area is filled with Pharmacies already.


2. Hair salon - Our second option is a modern salon where she will also be selling wigs and every other hair things. She can plait hair but she needs to upgrade her skills and possibly hire a stylist. But we know nothing about hair business. The importing and risks involved.


3. Food Mart - The last option is selling food stuff. My problem with this is that it might be very stressful for her especially because she wants to sell wholesales. Also, we both do not have any idea how the foodstuff business operates.


All I need, fellow Nairalanders, is advice on what business is less risky and profitable for her to run. I won’t be actively involved.


Thank you as you share you experience and expertise 🙏🏽


Lalasticlala
Seun

Assist to push to FP

bigl:
Broooo, put ur money for treasury bills .... Make e dey rest there dey yield some risk free interests while u decide on what to do ...

Don't let anyone fool u, 10million is a whole lot of money and must never enter the drain.

The pharmacy thingy, is sweet if u get a good location and u get a pharmacist/manage the finances well then ensure u are buying drugs directly from factories that make good drugs ...

Salon Think about it veeeery well before u put. money into this ...

Food Mart?? That's also dicey cos food is perishable ...

Whatever business u choose to do, start it with 1 million ... restrict everything to 1 milla ... to see how it works out then u can scale up with say 3 milla after studying for 3 to 6 months

Be extremely careful, so as not to lose ur funds oooo

Thanks for this. I will consider this 1 million limit when choosing

I think online business it is most scalable.

Moseswest24:
I think online business it is most scalable.

What kind of online business?

olafunny:
What kind of online business?

be a middleman that is the best business ever