₦airaland Forum

mployer:
He said he could transfer 10mil per day through diamond bank mobile app.

But people need to calm down, business isn't that easy. There are people doing that business before he came in, he hasn't told us how he managed to beat them in their own game. I do large scale importation of electric cable presently and I know what I battle with the big boys in Alaba.

Again, I don't think he just invested 56mil in his first trip. He must have done some small scale purchase in the past to understand the route better.

He is really good. I think he made a good decision by going into the tomato business. It is a fast moving item that is run by Hausas. His ability to speak Hausa fluently enabled him fit in properly. I think those clamoring to join him should take note of this.

x240:
Which throws up more questions.

10 million naira transfers, to whom?He just told us he disguised his Nigerianess to get better bargains, so I assume his sellers are Cameroonians. That's an international transfer. We both know how that works and even the fastest takes 3 business working days and has lots of restrictions. Transfer just 1 million as an individual alone and your name would be flagged by EFCC. It is part of the anti money laundering act.


Also we have to understand most of these sellers are illiterate and unbanked and if you have ever been to any large agricultural market. It is a purely cash to goods business. Also, you can buy in bulk but there's a limit to the bulk buying. Just one person can never have 7000 baskets. You may have to pick 400 here, 300 there, 1000 from another. Which throws the hypothesis of transferring in bulk to one single person out of the window. So how did he pay them? Carried 56 or 70 million around?
Who was he transferring to then?

Also the tale about him sending J5s without escorts just opened his yansh. Yeah some Hausa biz men maybe trustworthy but you would be damned to send your goods without a motor boy whom you know from your side to follow them. The share scale of logistics involved would be amazing to pull off. It would be a nightmare .

Also you have to understand you pay duties on products to and fro Nigeria. Cameroon is not jus adamawa that you stroll over and they just allow you take produce out like that.

There are so many loopholes in his story that anyone that scratches the surface would know this is impossible and more like fairytale.

I guess he would have his audience who believe all these stories though, since most of his followers are just out of school or naive undergraduates who have no idea whatsoever.

x240:
Which throws up more questions.

10 million naira transfers, to whom?He just told us he disguised his Nigerianess to get better bargains, so I assume his sellers are Cameroonians. That's an international transfer. We both know how that works and even the fastest takes 3 business working days and has lots of restrictions. Transfer just 1 million as an individual alone and your name would be flagged by EFCC. It is part of the anti money laundering act.


Also we have to understand most of these sellers are illiterate and unbanked and if you have ever been to any large agricultural market. It is a purely cash to goods business. Also, you can buy in bulk but there's a limit to the bulk buying. Just one person can never have 7000 baskets. You may have to pick 400 here, 300 there, 1000 from another. Which throws the hypothesis of transferring in bulk to one single person out of the window. So how did he pay them? Carried 56 or 70 million around?
Who was he transferring to then?

Also the tale about him sending J5s without escorts just opened his yansh. Yeah some Hausa biz men maybe trustworthy but you would be damned to send your goods without a motor boy whom you know from your side to follow them. The share scale of logistics involved would be amazing to pull off. It would be a nightmare .

Also you have to understand you pay duties on products to and fro Nigeria. Cameroon is not jus adamawa that you stroll over and they just allow you take produce out like that.

There are so many loopholes in his story that anyone that scratches the surface would know this is impossible and more like fairytale.

I guess he would have his audience who believe all these stories though, since most of his followers are just out of school or naive undergraduates who have no idea whatsoever.

x240:
Which throws up more questions.

10 million naira transfers, to whom?He just told us he disguised his Nigerianess to get better bargains, so I assume his sellers are Cameroonians. That's an international transfer. We both know how that works and even the fastest takes 3 business working days and has lots of restrictions. Transfer just 1 million as an individual alone and your name would be flagged by EFCC. It is part of the anti money laundering act.


Also we have to understand most of these sellers are illiterate and unbanked and if you have ever been to any large agricultural market. It is a purely cash to goods business. Also, you can buy in bulk but there's a limit to the bulk buying. Just one person can never have 7000 baskets. You may have to pick 400 here, 300 there, 1000 from another. Which throws the hypothesis of transferring in bulk to one single person out of the window. So how did he pay them? Carried 56 or 70 million around?
Who was he transferring to then?

Also the tale about him sending J5s without escorts just opened his yansh. Yeah some Hausa biz men maybe trustworthy but you would be damned to send your goods without a motor boy whom you know from your side to follow them. The share scale of logistics involved would be amazing to pull off. It would be a nightmare .

Also you have to understand you pay duties on products to and fro Nigeria. Cameroon is not jus adamawa that you stroll over and they just allow you take produce out like that.

There are so many loopholes in his story that anyone that scratches the surface would know this is impossible and more like fairytale.

I guess he would have his audience who believe all these stories though, since most of his followers are just out of school or naive undergraduates who have no idea whatsoever.

Mr Ymodulus Reviews ranging from Importation & other related businesses has been a real manifestation of truly hustler & young entrepreneur. Many of us that acted or apply his idea , their life has not remain the same.....

x240:
Which throws up more questions.

10 million naira transfers, to whom?He just told us he disguised his Nigerianess to get better bargains, so I assume his sellers are Cameroonians. That's an international transfer. We both know how that works and even the fastest takes 3 business working days and has lots of restrictions. Transfer just 1 million as an individual alone and your name would be flagged by EFCC. It is part of the anti money laundering act.


Also we have to understand most of these sellers are illiterate and unbanked and if you have ever been to any large agricultural market. It is a purely cash to goods business. Also, you can buy in bulk but there's a limit to the bulk buying. Just one person can never have 7000 baskets. You may have to pick 400 here, 300 there, 1000 from another. Which throws the hypothesis of transferring in bulk to one single person out of the window. So how did he pay them? Carried 56 or 70 million around?
Who was he transferring to then?

Also the tale about him sending J5s without escorts just opened his yansh. Yeah some Hausa biz men maybe trustworthy but you would be damned to send your goods without a motor boy whom you know from your side to follow them. The share scale of logistics involved would be amazing to pull off. It would be a nightmare .

Also you have to understand you pay duties on products to and fro Nigeria. Cameroon is not jus adamawa that you stroll over and they just allow you take produce out like that.

There are so many loopholes in his story that anyone that scratches the surface would know this is impossible and more like fairytale.

I guess he would have his audience who believe all these stories though, since most of his followers are just out of school or naive undergraduates who have no idea whatsoever.

x240:
Which throws up more questions.

10 million naira transfers, to whom?He just told us he disguised his Nigerianess to get better bargains, so I assume his sellers are Cameroonians. That's an international transfer. We both know how that works and even the fastest takes 3 business working days and has lots of restrictions. Transfer just 1 million as an individual alone and your name would be flagged by EFCC. It is part of the anti money laundering act.


Also we have to understand most of these sellers are illiterate and unbanked and if you have ever been to any large agricultural market. It is a purely cash to goods business. Also, you can buy in bulk but there's a limit to the bulk buying. Just one person can never have 7000 baskets. You may have to pick 400 here, 300 there, 1000 from another. Which throws the hypothesis of transferring in bulk to one single person out of the window. So how did he pay them? Carried 56 or 70 million around?
Who was he transferring to then?

Also the tale about him sending J5s without escorts just opened his yansh. Yeah some Hausa biz men maybe trustworthy but you would be damned to send your goods without a motor boy whom you know from your side to follow them. The share scale of logistics involved would be amazing to pull off. It would be a nightmare .

Also you have to understand you pay duties on products to and fro Nigeria. Cameroon is not jus adamawa that you stroll over and they just allow you take produce out like that.

There are so many loopholes in his story that anyone that scratches the surface would know this is impossible and more like fairytale.

I guess he would have his audience who believe all these stories though, since most of his followers are just out of school or naive undergraduates who have no idea whatsoever.

tosinjay:
Oga, i couldn't read much through but you're falling hand abeg, those who have finished school, gotten masters etc and not naive as you claim are not always the best in risk taking and business. What you don't understand is that this guy was in FX biz for quite some time now and should be in the best possible to know alot on how to move money around especially in a business of his own interest. Coupled with the fact he just made it clear on how he made the transfers without necessarily having exchange in currencies directly by him be in play.

See I've been reading through and i really like his zeal but figures don't move me like that so am skeptical about one risking alot on perishables. but oga chill. I doubt nothing of what he's been saying. Where you think say you know reach na dere many people own start.

I love this word: Where you think say you know reach na dere many people own start.

gurujoe:
I want to use this platform to thank Ymodulu for the great job!

He has laid the foundation on which any serious mind could work on without asking unnecessary questions.

It only takes a strong mind to reveal his business secret & when it does that take the full advantage.

MY ADVICE TO PEOPLE THAT WANT TO TAKE THE RISK

. having a partner in business is good, it reduces the risk let say an Igbo and housa guys or Yoruba & housa...
. try starting small & u build up. Let say 1j5 appr. 1.5M
. work with people that knows the in & out. Here the housas
. don't escort the vehicle you will incur more road expenses but make sure you got your vehicle from Union. From my Kosso experience
. make sure you have the necessary documents. Here custom clearance & Union papers. It helps avoid police/ tout wahala .
@ the guy with 5M to invest I am not impress with your post.
Thank u all!

Ymodulus:
you did the kosso business?

Guy you get mind oo. i chickened out. Do you still source from Taraba or ina don enter Sambisa?

Firefire:
I no wan hear story later ooo, na so one alalubosa came telling stories and sharing pictures before she disappear...

Awon eyan lasan, eni buruku ti ba awon eni'ire je.

Ymodulus:
Hey Nairalanders,

As usual i have always enjoyed sharing my business soujourn all through out the years. And as several people here who know me, i do not believe in running a permanent business all through, i beling to the warren Buffet Business school of thought which believes that your business ideas and moves should be adaptable  to CHANGE.


Today am here to share my story on my quest for Gold. With much detailing to trial and error and success.

My story will be shared in the following line-up.


- The Idea
- The .....

MULLAH123:
What is kosso please?

Ymodulus:
[size=14pt]Success[/size]

Every Business idea needs three things to run succesfully- Idea, Funds and Courage

1. IDEA: I had the idea, i saw the need for tomatoes, i saw a vacuum, i then searched for s solution.

2. FUNDS
Having a business  Idea is 1 Thing, having capital to run all your idea is another.
a. Ymodulus- I did the business self sponsored. Though added Close Friend's money. I personly bought a total of 6,556 Baskets of Tomatoes. These were mine.
b. IzikJon:  got 700Baskets of Tomatoes.

3. COURAGE:
Several people have funds but dont have the courage to try. It wasnt new to me. I didnt get to where i was without risking. i have lost and gain. Its Life.

4. PROFIT:
I Ymodulus personally love to risk all in business so i can rise fast. I always love to set a high target that can make me better than my mate. I had a mindset to hit a total profit of 10Million in a 2-4day frame. Hehe.

IzikJon wamted just any profit above N1Million.

*Making necessary calculations. It cost us N9,993.7 to get a Cameroon Basket of Tomatoes to Lagos. And this Basket goes as high as  13,000 - N14,000 in lagos. However we asked our Tomatoes Dealer to sell all the tomatoes at a flate fee rste of N12,000.

5. LANGUAGE
I hate to say this. But if i must say. Please learn one of the Major Languages. If you plan doing International Business. Its a big Plus. In our case we spoke Hausa to an Hausa Man who them translates to French and one funny Language Cameroon Tomatoes producing area speaks.  We settled our Hausa Interpreter N25,000 and bought him a new Gionee M5 Mini.

6. HONESTY
Some things can not be bought. In Mile12 Market our Dealers do sell and send money back to us without we been present. Hehe.

7. LOCATIONS
Our Decision of sensing our tomatoes to several locations ( Isoko Marker Warri- Delta State , OilMil Market Portharcout Rivers State, Abbdjdikw Aba Abia State ). Was a big boost to us. We ruled the market.

8. FRATERNIZATION
We became friends with most top boss from Head of Customs to Immigratiom to Head of Union Markets. We bought drinks for those who needed drinks, cigarettes for those who needed cigarettes. All in a bid to get what we want. Yesterday we successfully became close to the Head Military officer here.


i wont want to upload some pictures. For privacy sake

mployer:
Interesting..

Sounds more like an adventure...Hope you recover all theses expenses when the business finally starts.

Ability to speak Hausa is an added advantage to you, Just the way I mingle with the Igbo boys in Alaba and Idumota.

catlova2:
Anyways, share your story. I hope this thread wont end up with some lazy ass sending his/her life savings to someone in the hope of investing. It has happened here before.

Ymodulus:
[size=14pt]Soujourn[/size]

Having made all research necessary, i called a fellow friend of mine and i told him of my findings and asked him to make his research down south in warri before coming back to lagos. I also informed him of my desire to travel up north in other to buy these tomatoes.


My Initial Market Survey Summary, based on Mile12 Market.

These were my findings-

1. SEVERAL KIND OF TOMATOES BASKET -
- Hausa basket ( used in zaria , kano and katsina )
- Jos Basket
- cameroon basket

2. TOMATOES MARKET IN NIGERIA: I found out that there are 4 major producing states for tomatoes in Nigeria-
a. Kaduna: Zaria
b. Kano:
c. Katsina: Funtua, Birin
d. Jos: Barkin Ladi, Anpam West, Mougu, keran
e. Bauchi: Til De Fulani, Maga-Man Gumo
f. Gombe: Dadin kowa

3. PRICING: i will try all my best to lump pricing on a subtopic  on its own. Due to the changes  in price, and all. also i will add it to my story as we go on




My Travel Soujourn and Experience.

I wont want to bore you with unnecessary stories so i will be brief, i will be sharing how we travelled from states to states in search for tomatoes.

Day1: LAGOS - JOS
We travelled to abuja via flight around 3pm and then board a sienna vehicle to Jos. Getting close to Jos around 10pm we were attacked by thieves close to the Jos Science High school Road., lucky enough our driver was fast to manuever and had go back. we go to jos around 12 Midnight.  we slept at jos to the next day


Day2: JOS SOJOURN.
-we visited the Farin-Gada market in to buy tomatoes. On getting there we were dissapointed there was nothing. The sellers attributed it to lack of tomatoes. We decided to meet the "Sarkin Kasuwa". I wont lie you Alhaji was to blunt to us ( Ymodulus and IzikJon ). He told us we wont get due to scarcity and that the few available are been sold to loyal customers. i got discouraged and stopped speaking to him.

-We then left and went down to mungo. we heard we can get from that area. we visited mungo, anpam west. we got nothing. we went all were we were advised too go. we literally slept among Fulanis even when we knew of the current fulani herdsmen fight. we spent 2 nights down in the bush. This is to tell you how deep into the bush we went.

.

Ymodulus:
[size=14pt]SetBacks[/size]


1. PERISHABLES/ Poor State of Vehicles:
Tomatoes are Perishables, some J5 got spoiled on the way. And when this happens. Just be sure you have a back up plan and hope it happens where there is a presence of settlement. Out of almost 48J5 - 51J5. 7J5 got spoiled on transit. Some were repaired but 3 J5 about 450 Basket got Sold at extremely ridiculous price of 3K/Baskets.

2. BANK TRANSFER:
Thanks to My Bank. I love Diamond Bank. This Bank made transferring of money so easy for me. I transferred millions with ease and instant reflection.
However i hated the fact that bank customer care always  calling me to confirm if i transferred such amount.  Even after confirming it,  they will give you one call.
Shout out to FirstBank. Hehe i cant believe i am saying this about firstBank. but una don try small. I am impressed.

3. THUG FEES:
We loose much money to area boys and road side thugs. For example- W give every J5 Driver as much as N10,000. This is set aside to bribe police and soldiers and area boys on the road. In a certain area of  Enugu  State the youths demand as high as N4,000 just to allow the vehicle have their way.
some youth wont want to work, rather they will just be on the way trying to get money from others. Its so annoying.

4. RIDICULOUS UNION FEES:  We see fees that we begin to ask ourselves, if such words exist in the dictionary.  We dont pay such ridiculous fees in Cameroon, then why Nigeria? Nigerian Government needs to Look into this.

5. NATIONALITY: Too be honest visiting cameroon and doing business in cameroon is not an easy task. We try to hide our nationality. When and If they should know you are a Nigerian, they will try to exploit you by all means. I have been in the currency business ( Dollars to Naira to Yuan for roughly  7months amd i am very versed in it. My final year thesis in the university  last year was also on currency so i kmow every in and out ). But in cameroon i was taught to not Brag. These guys will give you ridiculous  exchange rate and see you have no option but to pay. At times they rub this daylight robberry directly to your face.
Imagine we buy a Can of Coke at N400 whem converted into naira. when i asked an hotel attendant why things are expensive she replied that we should stop acting as nigerians. Because they believe Nigerians are rich.
We handed her N5000 which she thanked us and acted as our tour guide through out our stay.

5. BANKS RESTRICTIONS:  GTBank Needs to step up her Game.  In Diamond Bank, a savings account holder can transfer up to 10M a day  without  hassles all from Mobile App. Gtbank restricts transfers to N1Million. Also Gtbank Tramsfer is very slow as compared to Diamond. My Friend Had a hard time transferring Funds.

6. NETWORK ROAMING:
Roaming at N40/Minute isnt fun. Note i said N40/Minute not N40/Second.
The implication is this:
- When i am recieving a call they charge me N40/Minute. Even if the call is just for 3Seconds i will be Charged N40.
Ahhhhhh!! Iyalaya to all those Flashers :-)
Men Diamond Bank Customer care agent just dei tell me say sir hold on while i confirm these details. i told her madam, confirm it and call me back.
 Hehe!!! Recharging Phone Ko easy.
- Mtn Roaming is not so nice. The network is Pathetic. I had no option but to  use it.

7. FOOD:
No food like Nigerian Made Food. I couldnt eat some trash. so i resorted to drinking Soft Drinks and Snacks.