₦airaland Forum

What's FCMG please?

maasoap:
The last couple of days that my professional work has taken me around my city, visiting businesses dealing in either goods or services, I have become more obsessed with business.
I'm a businessman myself before becoming an officer but what I witnessed in those premises has further reinforced my interests in running more businesses in this Nigeria.
Let me give you a simple task, easier to complete: choose a day and go round your city visiting those modern bakeries and take note of their daily production volume or those premises selling soft drinks to retailers or the ones selling FMCG and come back here to give your report

From only pepper?
You don't have any job or side hustle you combine this pepper stuff with?

Okoroemekah:
This post is obviously made by a lazy man,I made 1500% ROI on my habanero pepper farm from June to September this year,continue to procrastinate while the hustlers are balling,I have already set my target for next year 2012 honda accord coupe from pepper.

No need to tell me the name of the business.

But can you state what industry your business is in?

I don't know whether you understand my question!

gbadesky75:
your mindset is the reason why you're suffering and it's going to continue,I've started two businesses this year and both are doing great.i don't owe you any explanation so don't bother asking for the business.people like you should be left alone to continue suffering

When you talk about food business, what category or type?

Is it selling foodstuff(raw rice, raw beans, garri, red oil, pepper etc)?

Is it cooking and selling prepared meals you made yourself(mamaput)?

poweredcom:
The best sureest business na POS business although risky but just be careful when doing it ...you will make money back daily and also food business ..people must chop daily

What do you mean by daily essential?

newoffer:
Daily essential is not hard to start. Na u wan blow . Na u dey follow Naija artist lifestyle and appetite quote author=Stephen0mozzy post=140995522]There are many businesses that are profitable Oga. It's either you're too proud to start one or you're too broke to afford the startup capital.

Example of the ones you're too proud to start

1. Waste disposal
2. Laundry
3. Buy and sell from village market


Examples of the ones you're too broke to start
1. Shipping and forwarding
2. Import from China
3. Oil and Gas logistics
4. Private School

That means you have a main hustle that you do apart from prints?

newoffer:
I just focus on prints. I do photo prints as side hustle. Not bad.

I mean a business that will give you millions of naira in profit requires millions of naira in capital. So, if you don't have millions of naira to invest, you shouldn't expect millions of naira in profit.

Love800:
What do you mean by if you don't have millions, you can't expect to make millions?

Love800:
When you talk about food business, what category or type?

Is it selling foodstuff(raw rice, raw beans, garri, red oil, pepper etc)?

Is it cooking and selling prepared meals you made yourself(mamaput)?

Any of them as long as it's all food

I have a full time job and I do documentation along. Anything that gives me money...quote author=Love800 post=141011626]That means you have a main hustle that you do apart from prints?[/quote]

Food food ... Water.. anything that deals with volume..

Love800:
What do you mean by daily essential?

I don't buy the blanket version of this. Plenty of businesses are making money right now, the listed banks just posted another round of huge 9M profits. What's true is the cost side has gotten brutal. You're borrowing around 23% at the policy rate, inflation is still 14.63%, and the naira is ₦1,343.87 official against ₦1,380.81 parallel. If your business can't pass those costs on, it will feel like nothing works. The ones surviving aren't luckier, they just have pricing power or low exposure to FX and diesel. That's the real divide. That FX gap is updated daily here: https://nairaview.com/fx

Yea. I have Idea of dem all.

Local govt will come for normal bill board and refuse fees. Local govt will still come for annual land use money. You know say everybody na tenant under government.

School ministry will come for inspection and there this money you pay if you don't want ministry to worry you.
Also you need to summit some papers every term abi na session to ministry or you pay dem money to make it easy.
They is also a fee you pay to ministry for something like that(i have forgotten).

Also, your association too will come for you.
With the money from the parents school fees, you can pull through these stuff.

To me, workforce still remains the biggest challenge for proprietors(owners of schools). For you to see a steady teacher, nanny, cleaner that will stay with you throughout the years na big deal. After holiday they will mostly leave you.

And how to get or find these nannies, cleaners na big issue. You put advert for wall of your building, nobody go still show.

baslone:
You think the biggest headache of running a school in Lagos is finding cleaners and nannies? My brother, that’s just the beginning.

First, LASPPPA will need to ensure your building plans and approve. LASBCA will come and confirm the building is safe and fit for use. Also depending on the premises, you may need Fire clearance from LASEPA. OEQA will inspect the school and verify that the facilities, teachers and records meet education standards. All these nah money!

Land Use Charge will follow from the Ministry of Finance. LASAA will bill you annually for your signboards and even the branding on your school buses. LIRS will be waiting for your tax remittances while LAWMA too will charge you monthly for waste. .

Before you know it, another agency is asking for one permit or another. You are probably running on diesel through this and yet we haven’t even started talking about local govt and FG tax obligations. Omo onile too dey.

The real comedy is navigating all the agencies, paperwork, inspections at the end of the day, the cleaners and nannies might not be your biggest headache. Na the agencies wey go help you spend the school fees before the parents even pay am. 😂

I understand you.

But lets look it from another angle. What happened to starting or building small?

SoftHeart:
I mean a business that will give you millions of naira in profit requires millions of naira in capital. So, if you don't have millions of naira to invest, you shouldn't expect millions of naira in profit.

I appreciate.

poweredcom:
Any of them as long as it's all food

I appreciate.

What do mean by documentation?

newoffer:
I have a full time job and I do documentation along. Anything that gives me money...quote author=Love800 post=141011626]That means you have a main hustle that you do apart from prints?

I appreciate.

newoffer:
Food food ... Water.. anything that deals with volume..

Love800:
What's FCMG please?

Fast Moving Consumer Goods. Such as biscuits, spaghetti, noddles, semo, rice, etc. These are the items that consumers buy almost everyday. They are fast moving