Business For Today

For what it's worth, I've become quite antagonistic towards businesses. Especially businesses in Nigeria. With the state of things in the country, the chances of a start-up gaining relevance are thin. Your business either has to be unique or you have the right amount of charisma and connection to steal business customers from a similar business.

Haven't attempted at building a business of my own through a network marketing company, I know what trials you face when you're providing products that can be gotten from someone else. Sometimes, a person could sell below cost price because they have their strategy and you can't blame them for wanting to get rid of what they have.

Everything has its risks. However, IMO, businesses are risky and stressful. I've done the maths. Your ability to move your start-up from ground 0, regardless of what you offer, to a multinational is back-breaking work if you aren't already bloody rich, have a lot of politicians in your pockets or are street smart.

But, there's a bright side.

I've been asking questions and discussing with several small business owners who have no interest in going global with their brand. They're just okay dominating their community and earning the daily bread through their businesses.

From my discussions, I was able to pick out businesses that can work easily and those that require a lot of work but will still work. They may not get you in the history books or a handshake with the President, but they could keep your life afloat, especially in Nigeria.

The first conversation

My mother and I went shopping. The store we went to had a lot of imported clothing. Imported means above budget and expensive. Expensive means twice the original price. For instance, I got a dress that's originally sold at $15 for $30. The same goes for my mom.

The lady in question talked for a long while about how she got the dresses and how the dollar rate constantly affects her prices. She even showed me conversations she had with her supplier. She wasn't lying. He sold her clothes at a very expensive dollar rate I hadn't seen before.

I considered the fact that my mother and I were inside her store for close to 3 hours, we spent a little over $100 and for the entire time, we were the only ones at the store. So how the heck was she making a profit?

Knowing how the State I live functions, I know her business is hinged on debt. There's a love for trendy outfits but this is a civil service state, the income rate is low and people owe debts for months, have court cases and create enemies before they pay up. I've been in business, I know this. The statement "I'm a civil servant" solves everything and is meant to create a sense of oneness among debtors and business owners.

So, unless there's a backup source of income. I would not suggest selling expensive items.

The lady in question who owns the store has a job at a Federal clinic. She has a source of income to support her business.

The second conversation

A friend just moved back home from Spain. She has a masters degree in fashion and had a few shows while she was away. She has collaborated with some local celebrity designers over there and even had a few celebrities like Brandy and Tiwa Savage show off her animated designs.

She's back home now and we've been discussing the possibilities of her starting up her designs here and building from scratch to create a name for herself in her country.

I hate to be antagonistic but I told our friend in a discussion that her chances were thin and she better be ready to put in 100 times the amount of energy she put in while she was in Spain. The Nigerian market is not for the weak. You have to forge your oath with nothing but a blunt toothpick if that's what it takes.

Every business line is saturated. Someone has probably thought about your idea and is working hard to bring it to fruition. Your job, unfortunately, is to overtake.

Can she make it in fashion? Yes. But does she have what it takes? Knowing her, I hope so.

So, IMO, starting up a franchise or a business model that would require a lot of public attention to kick it off the ground is a no. Unless you have the ruggedness and dexterity to pull it off.

The third conversation

For 2 weeks, an old classmate has been on my case to come and help her be a muse to practise her makeup skills. I hadn't been in town so the moment I got back she called me to come over.

I began to ask her questions about her place of training, how much it costs and her future in that line of work. I was impressed but I was not convinced it had much of the characteristics of a long-term source of income, especially for a startup skill.

The price of entry into the industry varies based on your level of understanding, your location and your trainer. The minimum I've heard of is $60 without the necessary equipment. The next question is "how often do you get paid when you start and how long would it take you to get back what you spent in training.

Depending on your location, you could earn between $6 to $10 for each job done. However, the market is saturated. Within every 3 feet, there's a makeup artist or a studio. How do these studios earn back what they spend in setting up their businesses if the market is that saturated?

The answer - bridal jobs. Every week there are at least 10 weddings within my State and every one of them would require a makeup artist. A session with a bride costs about $60 at least. But is that a sustainable means of income for a business? How often would you be called for a bridal job? There's most probably always someone who has been in the business longer and can do a much better job than you. How well you place yourself matters.

This business might suffice but it requires work too. Constant improvement is necessary to keep you above the lot. Your skill must have unique qualities and your personality must be in line. Pride will not do much for you here.

The fourth conversation

Recently, everyone's been an introvert. At least everyone I know. That's not a lot of people, but you get the point.

Over here, the most reliable means of getting somewhat quality items is through thrift sales. Second-hand clothing, shoes, and other items sell off pretty fast. And why not? Why get it brand new at an obscene price when there's someone out there who could sell it at half the price with just a few minor defects.

In recent times, they've taken thrift stores online and the outcome has been massive. The market has become somewhat saturated but it has always been. The ease it provides is amazing.

Rather than walk around your neighbourhood searching for who wants to get rid of their television, you check online and someone is needing to get rid of theirs at an affordable price.

I patronize a bunch of online thrift stores. I think they make my life easier. They have limited options at fair prices. Rather than go out in search of something, I scroll online and pick one out of the available thrift stores, get what I want, have it delivered and move on.

We don't have eBay in these parts, however, we have Jiji. It functions almost exactly how eBay does but there's the issue of trust. So, most times online stores with actual human interaction come in handy. I trust them more.

My conclusion

I spent a lot of time thinking through these businesses and their modes of operations. The pros and cons. And they all include a lot of hustle in a country like Nigeria.

Everything is a struggle here. Unless you sell actual oxygen, you probably won't be able to make profits in the very beginning.

Honestly, I think the only business that can offer you profits early enough is the thrifting business. Yes, it's saturated but there's always something for everyone.

These are entirely IMO. Rentals can also work under this category but they come with several cons in our society.

Thanks for reading!


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