₦airaland Forum

A business about to be set up in a developing community, between botique and Cement business which will give more profit I the space of 6months..

Advice needed please...

empire02:
A business about to be set up in a developing community, between botique and Cement business which will give more profit I the space of 6months..

Advice needed please...

Since it is a developing community, cement is your best choice.

Only a proper documented Feasibility Study and business plan can answer this

Market research is the only logical way you get facts not by gambling finances on people's opinions


.

solmusdesigns:
Only a proper documented Feasibility Study and business plan can answer this

Market research is the only logical way you get facts not by gambling finances on people's opinions

Kudos! You've written like a truly educated individual... Often times businesses fail because people skip the planning and market research stage, which is usually the most crucial. One wrong turn can amount to a total waste of startup capital.

@OP
Kindly research the area to know what sells. Do your SWOT analysis, or in simple terms, know what people want that are not there and how you can fill in the market gap. Don't just jump into a business without accurate research. Good luck.

xProfx:
Kudos! You've spoken like a truly educated individual... Often times businesses fail because people skip the planning and market research stage, which is usually the most crucial. One wrong turn can amount to a total waste of startup capital.

@OP
Kindly research the area to know what sells. Do your SWOT analysis, or in simple terms, know what people want that are not there and how you can fill in the market gap. Don't just jump into a business without accurate research. Good luck.

My community is fast developing...
People are building House on daily basis... though we have about 3 cement dealer's too..

As for botique, nobody has ever open a botique business....and with the look of things our guy's are Beginning to put on fashion now...
But then I still don't know why everyone around is telling me cement business...

Secondly, considering the fact cement doesn't see much in rainy season... I'm having a second thought too.

I have done my study... Even my own cousin said I should ought for cement...since I'm well known.. that people will patronize me much.

empire02:
My community is fast developing...
People are building House on daily basis... though we have about 3 cement dealer's too..

As for botique, nobody has ever open a botique business....and with the look of things our guy's are Beginning to put on fashion now...
But then I still don't know why everyone around is telling me cement business...

Secondly, considering the fact cement doesn't see much in rainy season... I'm having a second thought too.

I have done my study... Even my own cousin said I should ought for cement...since I'm well known.. that people will patronize me much.

Well, not bad so far. But there are more questions to ask yourself, e.g. what is the profit ratio on one bag of cement vs a piece of clothing item?

What are the requirements for both? While a cement business is easier to start (just buy a large quantity from the nearest large depot and store well), fashion business on the other hand requires shelves to be made, lighting and ventilation. you need a reliable importer or dealer to source your items from, but it is more promising profit-wise and not dependent on construction like cement... Most importantly, which one are you more interested in?

Either ways, good luck.