₦airaland Forum

If you’re given ₦2m to turn into ₦10m within one year, what business would you do?

This Question is the fastest way to lose that money without enjoying anything out of it than tears, regret and heart attack.

See
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It's better you buy 2 big fridge, stock it with Titus, frozen chicken, turkey, crayfish, and grinded pepper...

Then buy 3 bag of rice, one bag of beans, tubers of yam, boxes of indomie, spaghetti, and a lot of cans of milk, Milo, egg, and enjoy your life till the whole foodstuff finish, at least you chop the money for ur head, than looking for how to multiply it by 5 to make it 10million in a year.....
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Oga, The probability is close to zero.zero that you will succeed in any business that will multiply it by 5x in a year for a business u don't even know yet..
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Speaking from plenty years of experience losing millions to this kind of thinking and question which will lead you to ventures that will make you lose the money in record time while u remain hungry.

I just say make I advise u. If u like hear

NiRfreak:
This Question is the fastest way to lose that money without enjoying anything out of it than tears, regret and heart attack.

See
.
It's better you buy 2 big fridge, stock it with frozen chicken, turkey, crayfish, and grind pepper...

You didn't add money for gas

Look for wan sure 5 odd in one weekend, and nack am 2mill, you will be smiling by Sunday evening.....or crying

Ole

laivwire:
You didn't add money for gas

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I swear.. make he go buy 50kg gas fill am.... If he can subscribe dstv for one year, e no go bad ajeh... At Least he go see where the money go

Sirchiboy:
If you’re given ₦2m to turn into ₦10m within one year, what business would you do?

Just rest, you won’t make 10million in a year with 2million, If you have to come on Nairaland to start asking this question. Zero your mind, invest in what you know how to do best, if it works, good for you and if it doesn’t, good for you. Any business is a risk that is not guaranteed, just keep trying.

Sirchiboy:
If you’re given ₦2m to turn into ₦10m within one year, what business would you do?

phone swapping/buying and selling.

Rent a house in ketu and turn it into olosho headquarters.

In 3 months I will make 60 million

To be sincere. No business will turn 2m to 10m in one year except you are speculating in the stock or crypto market and it depends on your trading skills.

Business are the hardest thing to do..it depraves you of good sleep and it reduces your quality of life for a moment until you are successful.

Buy scottish and resell, before 6 months you don make am

10m in stock and balance or profit of 10m? Let's know

I for say 5 odd, but 2 odd in 5 places, every 2 months, then jolly for December

Play 2 odds

Cause I believe you're looking for a faster way of loosing the money

Apart from gambling which isn't even guaranteed, it's almost impossible to invest 2m in a geninue business and get 10m after 12 months.

Businesses takes time to mature, and 2m in this economy is nothing. Meaning even if you want to go into fast moving business like foodstuffs as most people here suggested, your 2m investment would get you almost nothing.

Beans is about 95k per 50kg bag

Rice is about 65k per 50kg bag

Meaning if you buy 10 bags of each, rent a shop and sell them in derica at retail prices you'd spend 1.6m acquiring them (that's minus transportation and other miscellaneous)

Those 10 bags might take you between 3-4 months before you sell them completely. Depending on the location of your shop and the level of competition you have.

So let's look at beans...

Cost price of 50 kg bag of beans: 95k

1 derica = 1 kg of beans (close estimate for pricing)

Selling price per derica: 2,500 – 3k ( in Lagos, depending on location/market)

50 kg bag gives roughly 50 dericas, but due to spillage, stones, beans shells & measurement differences, sellers usually get 48–49 dericas per bag.

Profit Calculation

N2,800 per derica for 49 derica would give a total of about 137,200. If you minus 95k from it which is your cost price, you'd get N42,200 as profit per bag.

You should know that transport cost, market levies, storage, and owomida people can reduce that profit slightly.

So realistically, you can make about 42k profit per 50 kg bag of beans when selling in dericas, depending on your location, price, and efficiency.

If you multiply it by 10 bags you'd have 420k and if you do the same for rice you'd have about 840k. If it takes you about 4-5 months to sell off the bags then you should know that you won't even make your principal (2m) after one year let alone 10m.

So like I said, every successful business needs time to grow. Anyone promising to give you 10m with a 2m investment after one year would end up scamming you.

I'll use the 2m to trade Solana memecoins.
I'll pay back the money within 7 to 9 months.

What comes to mind is just open a mini store to specifically sell bags of rice, Beans and visit villagers to obtain garri bags in cheaper rate to sell in good price... 🤷🏾‍♂️

The best you can do is join a group of start up business. Buy a share in the business.. then leave the rest For God Almighty

Just N2m? What can that do? Too small. And you want 500% roi in a year. Lol.

This kind of money is good for a single man or woman.

1. Find a distruptive innovative skill
2. Relocate to where there is cheap accomodation and stable electricity or you can easily set up a solar system
3. Buy a cheap & good laptop
4. Set aside N30k to buy for stuff every month. Buy in bulk. (Manage, manage, manage)
5. Separate yourself and go learn..
6..prepare to Stay for 2 - 3 years, until you are good with what you went there to do, and you have either gotten a job/started making money.

Many people separated themselves like this to learn coding, trading, and other valuable skills

Good luck!

NiRfreak:
This Question is the fastest way to lose that money without enjoying anything out of it than tears, regret and heart attack.

See
.
It's better you buy 2 big fridge, stock it with Titus, frozen chicken, turkey, crayfish, and grinded pepper...

Then buy 3 bag of rice, one bag of beans, tubers of yam, boxes of indomie, spaghetti, and a lot of cans of milk, Milo, egg, and enjoy your life till the whole foodstuff finish, at least you chop the money for ur head, than looking for how to multiply it by 5 to make it 10million in a year.....
...
..... The probability is close to zero for you to succeed in any business that will multiply it by 5 in a year for a business u don't even know yet....
..
Speaking from plenty years of experience losing millions to this kind of question and ventures.

I just say make I advise u. If u like hear

People actually loose more money investing than flexing.... if u hear that someone blew 100m ...if u check the records...u will see that over half of that money was lost thru trying to invest

Stock trading in the Nigerian Stock Market.

Zźźzzzźzzzzzzzzzzzzzzzzzzxzzxxxzxxxxxxxxxxxxx

Sirchiboy:
If you’re given ₦2m to turn into ₦10m within one year, what business would you do?

If na me, I won't do any business. I won't even risk it. I would simply use it to buy federal government bond that pays 30% through a third pary issuing house. If the money is up to 45m, I will simply buy the bond with CBN. But since the amount is not up to that amount, I will buy with save it with Opay, Fairmoney, Piggyvest, etc. They collect money from people and use it to by treasury bills issued by the government.

In a year, your 10m will become nearly 13m, which is almost 30% profit.

No sane person invests this amount in a business that is not certain n this balablue economy.

Very simple question but I don't have a direct answer to it.

cr7lomo:
People actually loose more money investing than flexing.... if u hear that someone blew 100m ...if u check the records...u will see that over half of that money was lost thru trying to invest

You will be shocked those people hardly spend a lot to eat quality food or enjoy themselves yet they will waste millions in trying to chase millions with nothing to show. I have been there.
It would have been better they just use half of the money to buy maybe land and use the remaining half to enjoy themselves while sleeping and waking doing nothing else with peace of mind... Other than losing the whole money on risky business..