NewStats: 3,259,500 , 8,170,339 topics. Date: Sunday, 25 May 2025 at 11:07 AM 516n59

Dear nairalanders, Pls i need your opinion and advice. First i am from delta state. i have small challenge i want to sort out, so i went into farming late last year about 4 acres of land which my uncle give to me to use for like 3years, so after the harvest i made some cash, and i have bought an acre of land though i have not paid the full money like reminder 1.5m because i don't want to put all my eggs in one basket.
Apart from that the main issue here is i have 1.5m i want to use open either bar&restaurant or bet shop betking to precise, so my question is which one should i go between the two, and will the money be enough? Pls i need advice mostly from those who have experience in this two fields,

talented321:
Dear nairalanders, Pls i need your opinion and advice. First i am from delta state and i will be 27 by next year. i have small challenge i want to sort out, so i went into farming late last year about 4 acres of land which my uncle give to me to use for like 3years, so after the harvest i made some cash, and i have bought an acre of land though i have not paid the full money like reminder 1.5m because i don't want to put all my eggs in one basket.
Apart from that the main issue here is i have 1.5m i want to use open either bar&restaurant or bet shop betking to precise, so my question is which one should i go between the two, and will the money be enough? Pls i need advice mostly from those who have experience in this two fields,

1.5m for bar and restaurant is too poor. Consider your rental space, are you going to hawk your food and drinks? Procurement of electrical appliances, you will find out 1.5m is gone. On the other hand having a bet shop is cool but your gadgets and rental might steal off your investment as a betking Agent. In all keep pushing to secure up to 3m and start up your dream side hustle. All the best lad.

Thanks, that is why i asked the question, but thouhg the bar&restaurant is am average one

Matri xReloaded:

1.5m for bar and restaurant is too poor. Consider your rental space, are you going to hawk your food and drinks? Procurement of electrical appliances, you will find out 1.5m is gone. On the other hand having a bet shop is cool but your gadgets and rental might steal off your investment as a betking Agent. In all keep pushing to secure up to 3m and start up your dream side hustle. All the best lad.

talented321:
Thanks, that is why i asked the question, but thouhg the bar&restaurant is am average one

If u are street niggar, I for say Mak u hit d street with controlled drugs e. G. Tramadol, codeine, cocodamol, Raf etc. U go sell well well

Use 1.m run cassava farm(the 6 month specie) by January you go hit 3m wey the Burger above talk.

I get cash for the next farming, but thanks for the update

Exmilitant:
Use 1.m run cassava farm(the 6 month specie) by January you go hit 3m wey the Burger above talk.

talented321:
I get cash for the next farming, but thanks for the update

How do I go about farming please? i really want to go into it.

Do you have land? land

phorget:


How do I go about farming please? i really want to go into it.

talented321:
Do you have land? land

Yes

Like how many plots

phorget:


Yes

Streetdoctor:

If u are street niggar, I for say Mak u hit d street with controlled drugs e. G. Tramadol, codeine, cocodamol, Raf etc. U go sell well well

OP please don't answer this idiot....

Biko, come and take me on an expensive date with the money.

Thank you

Jennyclay:
Biko, come and take me on an expensive date with the money.

Thank you

YSSG hoodies are def coming for your pretty head .
You sure knows how to stir their hornets.

Bet shop is gradually fizzling out because most customers are moving online which to them is more discreet. So in the next few years I doubt if bet shops would be in existence anymore. Besides your staffs might steal from you as it's very common in that business. They would play games worth thousands in a bid to hammer, and run away when discovered so the debt would be on your head to clear off.

Bar/restaurant. That amount is too small for setting up a bar...It would definitely be enough for a restaurant cos aside shop rent, other expenses wouldn't be up to 600k. But a standard bar no way, unless you already have a very big shop on ground. Even at that, that amount wouldn't be enough, deep freezers, different brands of drinks and wines in large quantities, ACs, interior designs, lightings...etc. You'd have to increase your principal in order to achieve this.

My advice...with that budget, you can go for the following.

* A standard barbing saloon. Beautify it and make it very neat. When it comes to barbing, customers would pay anything to Barb in a clean saloon even if your price is a little above average.

* If you're based in the town like Asaba, I'll suggest you start a laundry and dry-cleaning service where customers can drop off their clothes to be washed and ironed. You may also offer pick-up and delivery services to attract more customers.

* Mobile Phone Accessories: Open a store that sells mobile phone accessories such as cases, chargers, headphones, and screen protectors. With the increasing use of smartphones, this business can be profitable.

Jennyclay:
Biko, come and take me on an expensive date with the money.

Thank you

I don’t think OP is gay

Nazgul,
Thanks for the advice, so like how much should i hold for the bar and restaurant, an average one

talented321:
Nazgul,
Thanks for the advice, so like how much should i hold for the bar and restaurant, an average one

For bar. I would advice you make it standard not all these road side make shift bars, so as to get rid of hungry drunks, and credit mongers, who might turn your bar to their second home and run you down with debts.

A standard bar would attract high earners, (Yahoo boys, business men, traders, office workers...etc) so even if your drinks are slightly above the regular price, they would gladly pay for it because they love the setting.

To set up something like that, the following should be on your budget...

ACs

Deep freezers

Wines and drinks...you should have a reliable supplier for this.

Meat supplier...for pepper soup, Nkwobi, peppered meat, Pomo and gizzard.

Mikano plant.

A barbecue stand.

Bouncers and other staffs

DJ (for weekends)

Interior design cost.

Chairs. (Different types)

Plasma TVs


You can work with this budget and can modify it if need be.


As for restaurant, provided you have a very good location, 1.5m would definitely be enough to set it up.

Lol...
Why are we Nigerians always in a haste to invest....?
Investment is good, but you need to really really study the economy and the business... This our economy is not stable...
Try to save!!!
Save!!!
Put your money in Fix deposit...
You have one business, face it, save your profit after removing expenses...
Nobody knows tomorrow...
Don't open any business if it's not you that will handle it yourself..., Even your family, don't trust them with your business.. We are all Nigerians...
You have gotten 1.5m, save it... Face your business, hopefully it will yield more, then you expand that same business...
One big business, is better/sure than 3 or 2 businesses someone is managing for you....

1.5 no be money bros.
That’s just the truth….continue with your farming and be chopping life first….just buy livestocks and start rearing too..

Continue farming.

A bird at hand is better than millions in the bush.

Thanks for this

Puss360:


Don't open any business if it's not you that will handle it yourself..., Even your family, don't trust them with your business.. We are all Nigerians...
You have gotten 1.5m, save it... Face your business, hopefully it will yield more, then you expand that same business...
One big business, is better/sure than 3 or 2 businesses someone is managing for you....

I appreciate

Foodqueen:
Continue farming.
A bird at hand is better than millions in the bush.

Puss360:
Lol...
Why are we Nigerians always in a haste to invest....?
Investment is good, but you need to really really study the economy and the business... This our economy is not stable...
Try to save!!!
Save!!!
Put your money in Fix deposit...
You have one business, face it, save your profit after removing expenses...
Nobody knows tomorrow...
Don't open any business if it's not you that will handle it yourself..., Even your family, don't trust them with your business.. We are all Nigerians...
You have gotten 1.5m, save it... Face your business, hopefully it will yield more, then you expand that same business...
One big business, is better/sure than 3 or 2 businesses someone is managing for you....

The way most of you call this fix deposit, one would think that it yields billions. Unfortunately, you're just raising capital for the bank to enjoy. They profit with your money and give you peanuts.

Let me explain it better for you

Let's say he fixes 1m out of the 1.5m at a rate of 12% per annum for 3months.

This means that for the 3 months his 1m would be fixed in the the bank, he would be paid 3% of the 1m. Meaning he'll get 30k after fixing 1m with the bank for 3 months.

So would you still advise him to fix his money where he'll be making a profit of 1% (10k) per month or to set up a business that can sustain him and his family?

About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

Nazgul:


About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

talented321:
Like how many plots

Its about 4acres.

You are a big, you can make millions and live a comfortable life with your wife and kids with 4 acres of land if u are serious

phorget:




Its about 4acres.

Nazgul:

The way most of you call this fix deposit, one would think that it yields billions. Unfortunately, you're just raising capital for the bank to enjoy. They profit with your money and give you peanuts.

Let me explain it better for you

Let's say he fixes 1m out of the 1.5m at a rate of 12% per annum for 3months.

This means that for the 3 months his 1m would be fixed in the the bank, he would be paid 3% of the 1m. Meaning he'll get 30k after fixing 1m with the bank for 3 months.

So would you still advise him to fix his money where he'll be making a profit of 1% (10k) per month or to set up a business that can sustain him and his family?

About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

Farming is a hands on job. Your workers will mercilessly rob you blind. They will steal you into bankruptcy if you have no means of checking them

talented321:
Dear nairalanders, Pls i need your opinion and advice. First i am from delta state and i will be 27 by next year. i have small challenge i want to sort out, so i went into farming late last year about 4 acres of land which my uncle give to me to use for like 3years, so after the harvest i made some cash, and i have bought an acre of land though i have not paid the full money like reminder 1.5m because i don't want to put all my eggs in one basket.
Apart from that the main issue here is i have 1.5m i want to use open either bar&restaurant or bet shop betking to precise, so my question is which one should i go between the two, and will the money be enough? Pls i need advice mostly from those who have experience in this two fields,

I commend your efforts and I can only advice thst whichever you choose to operate on be there and don't make the mistake of putting anyone there to over see it for you

You will end up feeding that person at the detriment of your business

Thanks

frozen70:


I commend your efforts and I can only advice thst whichever you choose to operate on be there and don't make the mistake of putting anyone there to over see it for you

You will end up feeding that person at the detriment of your business

GloriousGbola:
Farming is a hands on job. Your workers will mercilessly rob you blind. They will steal you into bankruptcy if you have no means of checking them

That's not how I understand farming. You only have to be physically present during farming and harvesting. He can hire people to weed it maybe once a month to avoid snakes pending harvest.

During planting season, he would be there physically to inspect them. Once cultivation and planting has been done, he can go back to his business and wait for harvest time...during the wait period, there would be nothing to steal cos the crop hasn't started yielding produce.

During harvest, he'll be back again to monitor them and take stock of his harvest, and transport them to wherever he wants them to be before selling them off.

Wawelexy:


OP please don't answer this idiot....

D most stupid idiot is d one without any good advice to give rather to counter d one being giving

Nazgul:

The way most of you call this fix deposit, one would think that it yields billions. Unfortunately, you're just raising capital for the bank to enjoy. They profit with your money and give you peanuts.

Let me explain it better for you

Let's say he fixes 1m out of the 1.5m at a rate of 12% per annum for 3months.

This means that for the 3 months his 1m would be fixed in the the bank, he would be paid 3% of the 1m. Meaning he'll get 30k after fixing 1m with the bank for 3 months.

So would you still advise him to fix his money where he'll be making a profit of 1% (10k) per month or to set up a business that can sustain him and his family?

About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

Oga REST......
Did I say that he should "Invest" on Fix Deposit
I said, since the money is an "extra" for now, he should put it in Fix Deposit, till when he needs it....
We always like investing without saving....
If he invest everything, what happens when there is an emergency either business emergency or health emergency?
Dropping it in Fix Deposit is better because of lesser access to the money....


Thanks