₦airaland Forum

wisemanj: Hi guys I need help I have a job in warri salary not enough I close by 4:30pm from work daily I'm thinking of buying a car and use it for transport business when I close from work please guys what do you think

wisemanj: Hi guys I need help I have a job in warri salary not enough I close by 4:30pm from work daily I'm thinking of buying a car and use it for transport business when I close from work please guys what do you think

youngestb14:
@kayleg seriously this is the kind of book one needs to buy.if I order how do I get mine n pls this is my email-dan4wealth@gmail.com bt I wud prefer a hardcopy. N how huch is the book? 08069455050

kayjegs:
Youngestb14, I have sent you an email, please check your email. Have a nice day.

kayjegs:
For those that have access to the internet and are looking for what to do to engage them. You can become a ecommerce broker by connecting buyers and sellers together via the internet. But in order to be a successful one, you must be familiar with terms of International trade. I will take time to explain some terms and how it is being used. You can explore more. This is very good for someone who has a business mind.



HOW TO BE AN EFFECTIVE BROKER
First of all, you must know where to get buying or selling offers. Before the advent of the internet, you may need to subscribe to some specialized business magazines where they put up adverts of buyers and sellers of products and services but nowadays, everything is on the internet. There are some websites that you get these information from. If you want to search in google for example, you can use the following search terms:
B2B ECOMMERCE WEBSITES
BUYERS AND SELLERS FORUM
IMPORTERS AND EXPORTERS.
BUYER AND SELLER OFFERS FOR 2013
But in order not to waste time, these are the most popular ones in which you can start meeting buyers and sellers of goods. Before now, people can join these websites free but nowadays, you pay premiums to join them, the fees range from site to site, you can get this information when you try to sign up. The fees are usually affordable anyway.
www.alibaba.com
www.ecplaza.net
www.ec21.net
www.globalbuyers.com
www.tradekey.com
www.trade-india.com
www.indiatradezone.com
www.nairaland.com/business
www.asianproducts.com

When you get a buyer’s offer on the internet and you feel you are interested, then you mail the buyer that you are able to supply what he or she wants and then it is good you ask him of his target price, location, quantity required, payment terms and so on. Even though, he might have posted all these information on the website where you saw his advert, you may still need to ask again when you are sending a mail in response to his advert. After you get a reply from buyer that he is interested, then you go in search of a seller, advisably from another B2B website not the particular one you got the buyer from. This is because if you use the same website, it is likely that the seller himself has contacted the buyer and so amounts to a waste of time for you. This is why you need to know so many B2B websites which you can use.

But before we go on, you need to be familiar with these terms as follows:
Letter of Credit (L/C) is a document which shows that a buyer (importer) is making a payment for goods ordered for from a seller (exporter) based on the availability of some documents that shows that the seller is in the process of sending the goods over. These documents are invoice, bill of lading, SGS Certification and so on. These documents are usually statutory for such transactions all over the world. There are different types of L/C but I will like to talk about the ones that is relevant nowadays in our world. They are the Irrevocable L/C, Transferable and Non-transferable L/C.
The Irrevocable L/C from the name shows that it is a L/C drawn in such a way that the terms and conditions attached to it cannot be changed. It is either the seller complies or doesn’t get the deal. You may then ask, can a L/C be revocable? Yes, it can. Some of the conditions with which the L/C is drawn could still be changed but with the consent of both parties involved i.e importer and exporter.
Transferable L/C is one in which you can transfer part of it to a third party as a beneficiary. This is usually used in scenarios whereby a middleman both known and recognized by importer and exporter is a beneficiary of the L/C. In this case, it can be transferred to the third party for whole or part of it. This can also be used in scenarios whereby we have an exporter, a manufacturer and importer. You should know that in many cases, the exporter is not usually the manufacturer, of course, the manufacturer can also be the exporter. But in this scenario, the manufacturer is not the exporter. The exporter if well known to the manufacturer could be issued a L/C by an importer which he now transfers the appropriate amount to the manufacturer. E.g A manufacturer supplies an exporter some goods at a price of 200,000usd. The exporter quotes about 320,000usd to importer cover for his gain and other logistic costs. The importer then draws a L/C of 320,000usd to exporter. The exporter can then transfer the L/C to the manufacturer for 200,000USD and he retains his 120,000usd in the L/C. In this case, the L/C is literally broken into two.
Non-transferable is just the opposite of what we have explained above. Simple!
Some other things to know about L/Cs is that L/C have time-frames especially 60 days, 90 days, 180 days. That is, after this date the full amount of L/C is made available to the exporter. This is called Matured Date i.e when the L/C matures. Take note that to give a L/C to a seller is not payment in itself but after the seller has provided the documents for the goods to the buyer even if the goods has not reached the buyer, the seller can be paid. But often times, the seller always want the money before the matured date, he can get money before the due date through his bank but they will not pay him in full, they will pay him about 85-90% of the money. And the bank gets back the 100% money after the matured date hereby the bank gains 10-15% on the deal. This is one of the ways bank makes profit from EXIM financing. EXIM is an abbreviation for Export-Import.
Letter of Intent (LOI): This is a letter showing seriousness from a buyer that he needs a product. This letter is usually addressed in the buyer’s letterhead and written to the seller. The letter tells the seller that he (buyer) is interested in his perhaps advertised goods and prices and would like the seller to send a Proforma invoice to him (buyer). Though nowadays, such letters are bastardized and ICPO is now preffered straight away.
What is ICPO? This means Irrevocable Corporate Purchasing Order. This usually comes after a LOI, Proforma Invoice. It further shows that buyer is serious. The ICPO usually comes with buyer’s banking and bankers’ information with soft probe. Soft probe means that the seller is free to contact buyer’s bankers to enquire if the buyer has finance capable of buying the goods.
RWA: This is called READY, WILLING AND ABLE. It is also in form of a letter from buyer to a seller showing that he has seen what the seller has on offer and he is ready, willing and able to buy. Simple! The able there means that “I have the finance to buy the items”
The ICPO and RWA are alike. The best is for the documents to be bank endorsed. This is the very authentic one which leaves no doubt in the seller’s mind about the ability of the buyer to pay.
DLC: Deferred Letter of Credit: This is a type of letter of credit which is usually used in the Oil business nowadays. It is a document showing that buyer has the financial muscle to pay for product if he issues the L/C.
SBLC: Standby Bank Letter of Credit: This is a document which is usually issued by a buyer’s bank to show that they can issue L/C on behalf of buyer any day, anytime because the buyer is well known to them and he is financially capable. It is a form of Bank Guarantee (BG).
Factoring: This is another way of financing exports or imports. It usually involves a Factoring House. What does a Factoring house do? They help to guarantee and deliver products to buyers….Get more info on the internet.
Metric Ton (MT): This is the standard unit used for quantity in the world of export and import. One ton or One Metric Ton makes 1000Kg. For example, 5MT means 5000Kg. 20bags of rice of 50Kg each makes 1MT.
Prices of goods for International business are usually quoted in /MT. E.g Cocoa can be quoted in 2300usd/MT. So you can know the whole amount if for example a buyer needs 2000MT. In this case you multiply 2000 by 2300USD which is 4600000usd.
Some products have other ways by which they are quoted. E.g Diamonds are usually quoted /carats (/cts). You can see quotes like 1050usd/ct. Gold is not quoted in carats though there is always a special reference to carat but it is for quality purpose. Gold is usually quoted /Kg or /MT. But it is rare to see gold especially gold dust in /MT because it is easy to get 1 kg not to talk of 1MT. And this is why it is very expensive per Kg. At the average, it is 20,000usd/kg.
Oil products especially petroleum crude are sold in Barrels (bbls). The prices are quoted /bbls.
CIF: Cost Insurance and Freight: This is a type of cost quotation used in Export and Import trades. This is usually quoted by exporter to importer showing the total price of the product plus transportation cost and insurance to be paid for the product during transport. It is usually written in short form CIF. This is the total cost that will get the product to the buyer’s destination. For C&F, it is just the quote for Cost of product plus Transportation, there is no Insurance paid for in this case.
FOB: Free on Board: This is a type of cost quotation used in Export and Import trades which shows the cost of the product plus logistics to the port of departure only. The goods will still be in the seller’s country but it would have gotten to the port where it is supposed to be shipped to the buyer. In this case, the buyer takes care of the shipping himself.
SGS Certificationn: SGS is a foremost Inspection agency involved in Export and Import trade. They check and inspect goods before they are shipped. They make sure the goods comply to International standards and that they are the goods the buyer ordered for. They then issue a certificate to this effect. They are usually needed in transactions involving payment with L/C which the certificate of inspection is one of the documents to be presented by exporter to the bank so as to be able to draw cash against the L/C.
TT: Telegraphic Transfer: This is the transfer of funds from importer to exporter through the bank. This is an old term but still retains its name. It comes with a telegraphic message to the exporter’s bank to make payment to the exporter. This has been the fastest means of paying an exporter from old times, it is now being enhanced through Internet technology. However, this type of payment is made to seller/exporter if both the seller and buyer have known themselves for long in doing business together or the seller has fulfilled all conditions and the buyer is sure of the goods or has seen it.


TAKE NOTE: It easier for you to be a broker than for you to export an item. Some thread tells you that you can export items with less than N500,000. I just want to inform you that, that may not be possible. It takes time before one gets to the level of being an exporter, though the processes are not difficult but you need enough money to really pull through in order to export your items.
However, there are some other ways by which you can get finance to pull through but it takes real determination and work and to be able to convince your buyers that you have the items.

kayjegs:
For those that have access to the internet and are looking for what to do to engage them. You can become a ecommerce broker by connecting buyers and sellers together via the internet. But in order to be a successful one, you must be familiar with terms of International trade. I will take time to explain some terms and how it is being used. You can explore more. This is very good for someone who has a business mind.



HOW TO BE AN EFFECTIVE BROKER
First of all, you must know where to get buying or selling offers. Before the advent of the internet, you may need to subscribe to some specialized business magazines where they put up adverts of buyers and sellers of products and services but nowadays, everything is on the internet. There are some websites that you get these information from. If you want to search in google for example, you can use the following search terms:
B2B ECOMMERCE WEBSITES
BUYERS AND SELLERS FORUM
IMPORTERS AND EXPORTERS.
BUYER AND SELLER OFFERS FOR 2013
But in order not to waste time, these are the most popular ones in which you can start meeting buyers and sellers of goods. Before now, people can join these websites free but nowadays, you pay premiums to join them, the fees range from site to site, you can get this information when you try to sign up. The fees are usually affordable anyway.
www.alibaba.com
www.ecplaza.net
www.ec21.net
www.globalbuyers.com
www.tradekey.com
www.trade-india.com
www.indiatradezone.com
www.nairaland.com/business
www.asianproducts.com

When you get a buyer’s offer on the internet and you feel you are interested, then you mail the buyer that you are able to supply what he or she wants and then it is good you ask him of his target price, location, quantity required, payment terms and so on. Even though, he might have posted all these information on the website where you saw his advert, you may still need to ask again when you are sending a mail in response to his advert. After you get a reply from buyer that he is interested, then you go in search of a seller, advisably from another B2B website not the particular one you got the buyer from. This is because if you use the same website, it is likely that the seller himself has contacted the buyer and so amounts to a waste of time for you. This is why you need to know so many B2B websites which you can use.

But before we go on, you need to be familiar with these terms as follows:
Letter of Credit (L/C) is a document which shows that a buyer (importer) is making a payment for goods ordered for from a seller (exporter) based on the availability of some documents that shows that the seller is in the process of sending the goods over. These documents are invoice, bill of lading, SGS Certification and so on. These documents are usually statutory for such transactions all over the world. There are different types of L/C but I will like to talk about the ones that is relevant nowadays in our world. They are the Irrevocable L/C, Transferable and Non-transferable L/C.
The Irrevocable L/C from the name shows that it is a L/C drawn in such a way that the terms and conditions attached to it cannot be changed. It is either the seller complies or doesn’t get the deal. You may then ask, can a L/C be revocable? Yes, it can. Some of the conditions with which the L/C is drawn could still be changed but with the consent of both parties involved i.e importer and exporter.
Transferable L/C is one in which you can transfer part of it to a third party as a beneficiary. This is usually used in scenarios whereby a middleman both known and recognized by importer and exporter is a beneficiary of the L/C. In this case, it can be transferred to the third party for whole or part of it. This can also be used in scenarios whereby we have an exporter, a manufacturer and importer. You should know that in many cases, the exporter is not usually the manufacturer, of course, the manufacturer can also be the exporter. But in this scenario, the manufacturer is not the exporter. The exporter if well known to the manufacturer could be issued a L/C by an importer which he now transfers the appropriate amount to the manufacturer. E.g A manufacturer supplies an exporter some goods at a price of 200,000usd. The exporter quotes about 320,000usd to importer cover for his gain and other logistic costs. The importer then draws a L/C of 320,000usd to exporter. The exporter can then transfer the L/C to the manufacturer for 200,000USD and he retains his 120,000usd in the L/C. In this case, the L/C is literally broken into two.
Non-transferable is just the opposite of what we have explained above. Simple!
Some other things to know about L/Cs is that L/C have time-frames especially 60 days, 90 days, 180 days. That is, after this date the full amount of L/C is made available to the exporter. This is called Matured Date i.e when the L/C matures. Take note that to give a L/C to a seller is not payment in itself but after the seller has provided the documents for the goods to the buyer even if the goods has not reached the buyer, the seller can be paid. But often times, the seller always want the money before the matured date, he can get money before the due date through his bank but they will not pay him in full, they will pay him about 85-90% of the money. And the bank gets back the 100% money after the matured date hereby the bank gains 10-15% on the deal. This is one of the ways bank makes profit from EXIM financing. EXIM is an abbreviation for Export-Import.
Letter of Intent (LOI): This is a letter showing seriousness from a buyer that he needs a product. This letter is usually addressed in the buyer’s letterhead and written to the seller. The letter tells the seller that he (buyer) is interested in his perhaps advertised goods and prices and would like the seller to send a Proforma invoice to him (buyer). Though nowadays, such letters are bastardized and ICPO is now preffered straight away.
What is ICPO? This means Irrevocable Corporate Purchasing Order. This usually comes after a LOI, Proforma Invoice. It further shows that buyer is serious. The ICPO usually comes with buyer’s banking and bankers’ information with soft probe. Soft probe means that the seller is free to contact buyer’s bankers to enquire if the buyer has finance capable of buying the goods.
RWA: This is called READY, WILLING AND ABLE. It is also in form of a letter from buyer to a seller showing that he has seen what the seller has on offer and he is ready, willing and able to buy. Simple! The able there means that “I have the finance to buy the items”
The ICPO and RWA are alike. The best is for the documents to be bank endorsed. This is the very authentic one which leaves no doubt in the seller’s mind about the ability of the buyer to pay.
DLC: Deferred Letter of Credit: This is a type of letter of credit which is usually used in the Oil business nowadays. It is a document showing that buyer has the financial muscle to pay for product if he issues the L/C.
SBLC: Standby Bank Letter of Credit: This is a document which is usually issued by a buyer’s bank to show that they can issue L/C on behalf of buyer any day, anytime because the buyer is well known to them and he is financially capable. It is a form of Bank Guarantee (BG).
Factoring: This is another way of financing exports or imports. It usually involves a Factoring House. What does a Factoring house do? They help to guarantee and deliver products to buyers….Get more info on the internet.
Metric Ton (MT): This is the standard unit used for quantity in the world of export and import. One ton or One Metric Ton makes 1000Kg. For example, 5MT means 5000Kg. 20bags of rice of 50Kg each makes 1MT.
Prices of goods for International business are usually quoted in /MT. E.g Cocoa can be quoted in 2300usd/MT. So you can know the whole amount if for example a buyer needs 2000MT. In this case you multiply 2000 by 2300USD which is 4600000usd.
Some products have other ways by which they are quoted. E.g Diamonds are usually quoted /carats (/cts). You can see quotes like 1050usd/ct. Gold is not quoted in carats though there is always a special reference to carat but it is for quality purpose. Gold is usually quoted /Kg or /MT. But it is rare to see gold especially gold dust in /MT because it is easy to get 1 kg not to talk of 1MT. And this is why it is very expensive per Kg. At the average, it is 20,000usd/kg.
Oil products especially petroleum crude are sold in Barrels (bbls). The prices are quoted /bbls.
CIF: Cost Insurance and Freight: This is a type of cost quotation used in Export and Import trades. This is usually quoted by exporter to importer showing the total price of the product plus transportation cost and insurance to be paid for the product during transport. It is usually written in short form CIF. This is the total cost that will get the product to the buyer’s destination. For C&F, it is just the quote for Cost of product plus Transportation, there is no Insurance paid for in this case.
FOB: Free on Board: This is a type of cost quotation used in Export and Import trades which shows the cost of the product plus logistics to the port of departure only. The goods will still be in the seller’s country but it would have gotten to the port where it is supposed to be shipped to the buyer. In this case, the buyer takes care of the shipping himself.
SGS Certificationn: SGS is a foremost Inspection agency involved in Export and Import trade. They check and inspect goods before they are shipped. They make sure the goods comply to International standards and that they are the goods the buyer ordered for. They then issue a certificate to this effect. They are usually needed in transactions involving payment with L/C which the certificate of inspection is one of the documents to be presented by exporter to the bank so as to be able to draw cash against the L/C.
TT: Telegraphic Transfer: This is the transfer of funds from importer to exporter through the bank. This is an old term but still retains its name. It comes with a telegraphic message to the exporter’s bank to make payment to the exporter. This has been the fastest means of paying an exporter from old times, it is now being enhanced through Internet technology. However, this type of payment is made to seller/exporter if both the seller and buyer have known themselves for long in doing business together or the seller has fulfilled all conditions and the buyer is sure of the goods or has seen it.


TAKE NOTE: It easier for you to be a broker than for you to export an item. Some thread tells you that you can export items with less than N500,000. I just want to inform you that, that may not be possible. It takes time before one gets to the level of being an exporter, though the processes are not difficult but you need enough money to really pull through in order to export your items.
However, there are some other ways by which you can get finance to pull through but it takes real determination and work and to be able to convince your buyers that you have the items.

kayjegs:
PLANTING VEGETABLES SUCH AS TOMATOES, PEPPER, LEAFY VEGETABLES IS SERIOUS BUSINESS. CAN MAKE N60,000 OR MORE MONTHLY. COSTS AND PROFIT EXPLAINED.....

POULTRY, SNAIL FARMING EXPLAINED IN DETAILS WITH COSTS AND PROFITS TO BE MADE

HOW TO START TRANSPORTATION BUSINESS; PASSENGER TRANSPORTATION, TAXI, HAULAGE, EXPLAINED WITH COSTS AND PROFITS TO BE REALISED.

SOME INNOVATIVE IDEAS THAT WORKS ABORAD ARE ALSO HERE FOR YOU AND CAN WORK HERE. IT WILL BE DISCUSSED HERE. PACKAGING OF SOME PARTICULAR PRODUCTS WHICH ARE ESSENTIAL COMMODITIES, STARTING A SMALL RESTAURANT WITH SPECIAL DISHES ON CAMPUSES,

ALL ABOUT EXPORTING FOR BEGINNERS, CONTACTS OF IMPORTERS AND READY BUYERS ABROAD.

HOW AND WHAT TO DO IN STARTING PETROLEUM BUSINESS SUCH AS KEROSENE, PETROL, AGO.

WRITING A BUSINESS PLAN AND PROPOSAL WITH SAMPLES ATTACHED. THESE PROPOSALS WORK INTERNATIONALLY AND LOCALLY.

ALL YOU NEED TO GIVE YOURSELF A JOB ON THE INTERNET AS A BROKER FOR GOODS AND SERVICES.

WE WILL DISCUSS THEM IN BITS ON THIS THREAD THOUGH EVERYTHING IS PACKAGED AS A WHOLE. IN CASE YOU DONT KNOW WHAT TO DO THIS YEAR WITH YOUR MONEY, READ! AND IN CASE YOU DONT HAVE MONEY AND SIMPLY NEED IDEAS, READ!

YOU CAN HAVE ALL AT ONCE IF YOU DONT WANT TO WAIT FOR LONG BEFORE WE DISCUSS TOPICS THAT MAY INTEREST YOU. THERE ARE ILLUSTRATIVE DIAGRAMS TO MAKE YOU UNDERSTAND BETTER TOO.....


YEAR 2013 IS GOING AGAIN. YOU HAVE FUNDS BUT DONT KNOW WHAT TO DO WITH IT, CHECK THESE OUT OR STAY ON THE THREAD. YOU DONT HAVE FUNDS, STAY TO LEARN ON THIS THREAD TOO. YOU NEED FRESH IDEAS, STAY ON THIS THREAD TOO.

Lets Start here and now!

HORTICULTURE
This is not about flowers but about vegetables, fruits and so on. Vegetable farming happens to be one of the easiest agricultural engagement, and any kind of edible vegetable is always in hot demand all year round. Constituents of vegetables and usefulness:
How to set-up a tomato/pepper farm and business.
Plants can be raised, if you wish, from seed, in a greenhouse or sunny window indoors about a month before you intend to set them out in the garden.
When they are about 15 to 25cm tall for example, then transplant them to the field. Tomatoes need lots of warm sunshine for optimum taste. Apply fertilizers on the land or soil before starting the transplanting of the tomatoes.
Tomatoes demand a growing medium rich in organic matter. It also needs a lot of watering which can be done everyday in the dry season but can be ignored in the wet season because of the rains which serves same purpose. In watering it, make sure most of the water are applied to the base but little sprinkling of water on the leaves.
It is good to make stakes which are like stands to support the plants while they are growing up. You can see in the diagram of a tomato plantation.
A stake should be at least 1.3 x 5cm spacing and 6 to 8 feet (1.8 to 2.4 meters) long. Secure the plant to the stake using "loosely knotted double-loops" that won't strangle the plant. Stakes can be made of bamboo sticks, scrap wood, electrical conduit, or iron bar.
In 6 to 12 weeks, your tomatoes begin to bear fruits and ripe. As soon as they are showing signs of riping, pick them up and store so that they can get riped in the house. If left to fully ripe outside, it might get attacked by pests and other animals. Even without it being attacked, it can soften out after it is ripe which makes it get spoilt easily.

PROFIT
For a plot of land with size 1000sqm, you get an average yield of 5MT. It can be more than that if properly done.
1MT = 1000Kg
5MT = 5000kg.
1 Basket of tomatoes is around N5000-N6000. 1 Basket of tomatoes averagely weighs 30kg.
You can get about 166 baskets from a 1000sqm plot.
Therefore 166 baskets x N5000 = N830,000 at the minimum. This is the gain after 3 months of planting and selling your tomatoes. You can plant tomatoes all year round if you use the land well and very disciplined with watering and taking care of the tomatoes.


Watch out for the next topic. You can ask your questions and comment. I might not give some cost analysis and profit for some other businesses but if you need it, you may have to ask specially which may not be free. But you can as well get so many free info from this thread......Wishing you well for 2013.

kayjegs:
It has been a long time. I am always very happy when people send me emails about how this thread has been helpful over the years and many more inquiring to get my book. I will try and add some new business ideas to this thread going forward although the frequency would still not be fast.
Always stay tuned to hear more from me. In case you need to see more and wants to get the material, you can just visit http://kayjegs.com/index.php/app-download. You will see the business ideas, cost and profit analysis in Nigeria. You can download the material from there but at a cost.

More business ideas will be coming up on this thread shortly. Have a wonderful day.

Ollyfad:
@kayjegs any idea on how to get funds for a big retail supermarket in a fast growing working class residential area?

kayjegs:
Ollyfad. There are ideas on getting funding for establishing businesses. But first, have you done your feasibility studies especially on why you think it would be a profitable venture in such area? In other words, do you have a business proposal detailing all these? To access finding asides having a good and convincing business plan, do you have the credit line which your bank can use to raise the funds? Even if your bank cannot raise the funds, they can convert your line of credit into a bank guarantee with which you can raise funding from other sources. In any case, do you have a collateral to access such funding as loan? However, I have a source that may be able to help out especially for big-time businesses such as these. But you have to be able to show that you can raise 20% of the capital and then they come in with 80%. This is how most funding companies run. They want to be as secured as possible.