Is 5 Million Enough To Start A Bakery In Lagos? - Business - Nairaland
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| Is 5 Million Enough To Start A Bakery In Lagos? by ASPIREX: 1:04pm On Apr 24, 2020 |
IS 5 MILLION NAIRA ENOUGH TO START A MEDIUM SIZED PROFITABLE BAKERY? I NEED HELP! My younger brother has just received a termination of appointment from his employers thus joining the growing league of employment casualties resulting from the COVID 19 pandemic. He got the disengagement letter by email on Monday morning and while he was still in mourning he received an alert being his disengagement benefits. He now seeks to do what he has wanted to do all the while. He has gathered all his savings together with the benefits he received and is now willing to start a bakery immediately after the Lock-Down is suspended. He has sought my advice and guidance in this matter going forward but I unfortunately do not have a clue and decide that I should throw it up here for your inputs by way of suggestions. Please note the following and allow it guide us in making suggestions; 1. He is ready to start immediately. The cash is available and we have a location we can modify to accommodate the business. 2. We are not willing to spend beyond 5 Million Naira. 3. We may be inclined to identify a guide (Consultant) from here who will help us make this dream a reality. 4. Please no need to contact me via DM. I will contact those that I consider their contributions weighty enough. 5. Please post all your info here as I intend that it should also be beneficial to others who seek the same information. Many thanks as I await your contributions. |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by Jgoldie: 1:06pm On Apr 24, 2020 |
So sorry about your job loss You shall overcome |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by Nobody: 1:09pm On Apr 24, 2020 |
Nigeria environment is not friendly for any business to thrive successfully.Especially a business that needs electricity supply.Multiple taxation is another factor.If you established a business in Lagos you go hear am.Those Lagos state government officials will make life difficult for you.They come with different taxes.From signboard,to food consumption tax.Health officials will visit your company to find fault in the name of checking if your environment is clean.And all of them will collect egunje. Good luck. |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by tensazangetsu20(m): 1:12pm On Apr 24, 2020 |
Honestly let your brother hold onto his cash until this pandemic blows over and watch how the economy is. It's very risky to invest anything in Nigeria now. He should also convert the money to dollars so it doesn't lose value. 1 Like |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by KINGreignn: 1:20pm On Apr 24, 2020 |
OP, follow this rule. The naira currency will still slide downwards in time to come. tensazangetsu20: |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by flyingdutchman(m): 1:39pm On Apr 24, 2020 |
I disagree with you. Bakery is an essential business that people cannot do without. You have been consuming bread since childhood till date, has the business stopped in Nigeria  @OP, I also plan on starting a bakery biz. List bite the bullet and do your thing. Some years back, when I was wallowing in poverty of unemployment, I established a private home tutoring biz. I employed fellow graduates while, I worked as the CEO. I called on fellow unemployed ppl on . They ignored me and discouraged. I went ahead and was able to Comfortably take care of myself. cucumbae: 1 Like |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by aleeyshow(m): 1:42pm On Apr 24, 2020 |
My name : Aliu Qualification :Bsc Course of study: Food Science and Technology Currently working with the leading flour mill company in Nigeria Company department : Product development Specialisation : Bakery Support Officer I can be of help to do the location layout ,equipment layout ,product development including Marketing strategy ,recipe formulations,packaging materials analysis etc |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by ASPIREX: 1:43pm On Apr 24, 2020 |
Jgoldie: Actually, it's my younger brother who lost the job. But there is absolutely no need to be sorry. He has taken it very philosophically and is committed to changing the narrative to his advantage. 1 Like |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by ASPIREX: 1:46pm On Apr 24, 2020 |
aleeyshow: Thanks! How do we contact you? How much would this cost us? Or is it gratis Or is it in return for long term patronage of your company products? Pls specify clearly. |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by Kendumazy(m): 4:22pm On Apr 24, 2020 |
It's a very nice business. Don't mind anyone telling you that the economy is in a bad shape or negative saying. People are still doing business. I buy bread in a bakery closer to my house often. I still bought last week. So, bread sells very well and no economy ish is disturbing it. Let your brother deal on wholesale and retail sales of the bread. What i mean by wholesale is that, give rooms to people to come buy at wholesale which means they are your distributor, also allow people to walk in and buy a loaf, two loaves etc. Don't forget to do your market survey on the location as well. Wish you all the very best. 1 Like |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by infinityadverts(m): 7:55am On Apr 27, 2020 |
ASPIREX: |
| Re: Is 5 Million Enough To Start A Bakery In Lagos? by infinityadverts(m): 7:58am On Apr 27, 2020 |
Hi Broz, Am a Bakery Consultant with 22years experience in bakery business. Let's chat on Whatsapp 09030417834 please. Thanks a bunch! I have free bakery business plan for you...
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| Re: Is 5 Million Enough To Start A Bakery In Lagos? by infinityadverts(m): 7:58am On Apr 27, 2020 |
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