₦airaland Forum

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Investmentwaka:
helIo, although you didnt give enough specific information about your own particular condition, i can still provide you with some considerations to help you make an informed decision. Ultimately, the "best" business to do in Nigeria depends on various factors, including your interests, skills, location, market demand, and available capital. Both the POS (Point of Sale) and bike business (okada) have their advantages and challenges. Let's explore each one:

1. POS (Point of Sale) Business:

Advantages:
- Growing demand for cashless transactions in Nigeria.
- Potential for steady income through transaction commissions.
- Contributes to financial inclusion and promotes electronic payments.

Challenges:
- Initial setup and equipment costs.
- Competition from other POS operators and financial institutions.
- Dependency on stable internet connectivity and power supply.

2. Bike Business (Okada):

Advantages:
- High demand for transportation services in urban and rural areas.
- Can be a source of immediate income with relatively low startup costs.
- Flexibility in working hours and potential to expand into delivery services.

Challenges:
- Safety concerns and possible regulatory restrictions in certain areas.
- Dependent on fuel prices and ongoing maintenance costs.
- Market saturation in some locations may lead to intense competition.

When deciding between these businesses, consider the following steps:

1. Market Research: Analyze the demand for both services in your target area. Consider factors like population density, competition, and consumer preferences.

2. Skills and Interests: Assess your own skills, experience, and interests. Determine which business aligns better with your capabilities and passion.

3. Resources: Evaluate your available capital, as different businesses have varying startup and operational costs.

4. Regulation: Investigate the local regulations and requirements for operating both businesses, as some regions might have specific restrictions.

5. Risk Tolerance: Consider the risks associated with each business, such as safety concerns, market fluctuations, and regulatory changes.

6. Long-Term Viability: Assess the potential for growth and sustainability of each business over the long run.

Ultimately, the "best" business for you in Nigeria will depend on a careful analysis of these factors. Whichever option you choose, it's crucial to have a well-thought-out business plan, focus on quality service, and adapt to the dynamic business environment in Nigeria. Additionally, seeking advice from local entrepreneurs and professionals can be valuable in making your decision.

Thanks

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Please I need more suggestions

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Gentleswift:
The details you put up there is quite sketchy. You didn't indicate your state of residence and who will be in charge of the business. For the pos business, if you're in a remote area, you can quite make something out of it. Okada business is quite better profit wise, and quite risky too. It also require alot of manpower too. So know your strength, and choose what's best for you. All the best in your endeavors.
Note: if you settle for the okada business, make sure you get a sound bike.

Thanks

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coputa:
POS business is not saturated,is like you saying that banks are too many, humans carrying out transactions outnumbered the banks

Nobody want to go to the bank to waste his time before carry out a transaction except an important one.

Create a niche round the business and before you know, you will stand out.

I said it's saturated in my place. You don't live in my place sir, so you can't say otherwise.

Hardly will you walk for 1 minute without seeing POS here.

Aurelius1:
Have you used a fairly used bike/Keke for transport business before? I have.I have used a used Keke before. The thing nearly killed me. I usually make up to 5k per day only for the Keke to get spoilt the next day. I ended up spending everything I saved in repairing the Keke. If you fix one problem today another one pops up the next day. I had to sell it for 100k. This was something I bought for 290k.

You sef go buy Keke 290k, the Keke go don old na. My neighbour bought a bike last year 170k, it's a year old now and he never repair am for once, he only service it

sonssyo:
Get bike then,the money their is more, good luck

Thanks

coputa:
why don't you add a side hustle to the teaching job, like tutorials instead of leaving it outrightly.

For a graduate to ride okada is bad because it diminish your self worth and confidence, your intellect, your physique and expectations.

POS is better if you have made up your mind, look for a good location close to a bank or a busy market

Adding tutorial would have been better, but it's not suitable for my location. To pay school fees sef na wahala let alone tutorial fee.

Forget about being a graduate ridding Okada. There are lots of people building houses doing these businesses you think is diminishing. All in the name of am a graduate you go wear shirt and trouser tired for 40k salary.

POS would have been better, but getting a location here is very difficult as the business is saturated already. Na every angle POS dey.

sonssyo:
Please don't be deceived, you can't, Nigeria used items are near to grave,eg when I bought my first car because of emergency (had accident) need to return to work driving this time ,I used 850k and bought Nigeria used, believe me I changed all the tyres, changed power steering,changed alternator etc before the car came back to life,thou it's been serving well even more than the newer cars self but I spent good money.
If you are still managing you can't venture into any misery of repairs, please,I hope you get flavoured sha

I know people that bought a good bike with 170-200k. Getting a good bike is not the problem, I can even buy one that is slightly above 200k. My main issue is the one I should go for, whether POS or Bike business

BabaCommander:
POS is your only option here.
With 200k, you can only get a bike that has been used for 3yrs years or more. And it's also a rainy season.....

So the 200k is too small for even a used bike, except you want to spend all your earnings and time in mechanic workshop.

If you are really keen on the okada, source for more funds AND WAIT till November before venturing into it.

Please, don't borrow to start a business in Nigeria, it will set you back

I can get a good bike for 200k sir

Pk01:
boss I like ur courage..go for okada. Don't go for any POS. That 200k at hand ...use it buy fairly used Bajaj..3k/day is sure... good luck..and don't think twice about this..

Thanks

IntelligentGoat:
Do Pos o. Except you want to be crying for your bike while another man gets the money and tell you stories. Except its for higher purchase

Pos is better for me

I want to ride it myself

I am tired of my teaching job, so I want to do something else that will fetch me more money, since I've not been able to get a good job since I graduated 4 years ago. Please I need your advice, which one is better? Please state your reason. Thanks

Mod please help me post on homepage, I need people's opinion

pussyeater:
The fool is an Ediot and that absolutely server him right and his like. Hope he learnt his lesson. yeye boy

You are an idiot.

This was what happened. There's this new thread on NDLEA Recruitment on NairaLand. Somebody suggested on the thread that we create a Whatsapp group. I volunteered to create the group. After creating the group, I copied the numbers of people that dropped their numbers on the thread, requesting to be added to the group. I sent them the link to join the group, and in few hours my WhatsApp is gone. I only wanted to help.

Babakolanut:
Are you sure no phonographic content is shared with you?

No

My WhatsApp was banned this evening, is there any hope that it would be unbanned?

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samwash:
How can u spend half of your salary on transportation.
Teaching job 25K after transport
Clearing job 20K after transport
Both jobs are uncalled for.

It's Abuja, transportation is on the high side

lereinter:
Who told he will get tips, how much tips

Why should the motivation of taking a job be tips

Do you know in some organisations tips are collected on a box and shared amongst staff

Well

Maybe cos you be woman, you go dey seduce men

Tips are not collected in a box in Airport.

If you go to Airport very well you will know cleaners, securities and other worker there get tips