Hi all,

Need your advice.

After deliberating on different businesses I could run, I have decided to start a business renting sound systems out to DJ.
(Obviously After Corona )

Reasons:
It requires a minimum amount of monitoring.
It's within my budget 4-5m(At least I think).
It's easy to get returns.150k - 200k peruse means I can recover my capital in a very short time.

I'm looking for more in-depth knowledge of the business and want to ask if there's anyone here that has run the business, that can advice on possible pitfalls to watch out for.

Thanks..

I don't know much about your intended business but I'll just chip in one or two thoughts of mine.

1. What's the average a DJ earns each weekend? I think DJ's are paid anywhere from 30k to 500k per event. Mostly the size and class of the event determines pay.

2. The DJ's renting your equipment will definitely be on the lower end of the earning spectrum, as I believe professional Dj's that command 200k and above per event can afford, and will definitely want to use their own equipments.

3. So if you're renting to upcoming Dj's i doubt you'll make that much each week.

4. Equipments starts to break down over time. So are you sure you'll recoup your investments within the first 2 years? 'Cause a typical Nigerian won't care about maintenance if its not his property.

@WordsWriter

Thanks.

This article sheds more light on how DJs earn in Nigeria
https://www.zikoko.com/money/naira-life/being-a-dj-in-nigeria/

Most of my maths right now are still on the back of the napkin.
I plan to talk to people in the business to get actual raw numbers..
The first step is to get a general idea of what people think about the business..

Regards Equipment Wear and Tear, You are right. It's a worry.
I actually have a couple of ideas on how to minimize that.

SeuIn:
Hi all,

Need your advice.

After deliberating on different businesses I could run, I have decided to start a business renting sound systems out to DJ.
(Obviously After Corona )

Reasons:
It requires a minimum amount of monitoring.
It's within my budget 4-5m(At least I think).
It's easy to get returns.150k - 200k peruse means I can recover my capital in a very short time.

I'm looking for more in-depth knowledge of the business and want to ask if there's anyone here that has run the business, that can advice on possible pitfalls to watch out for.

Thanks..

Rent out drones,,rent out superb video camera equipments....na there d money dey

drmikeadams:



Rent out drones,,rent out superb video camera equipments....na there d money dey

How do you ensure they return it after renting?

Your location matter's. which state are u?

Kenlinks546:
Your location matter's. which state are u?

Baba his location doesn’t matter. I am in the music industry. Almost all Disc Jockeys have their own systems. Even if his location matters, choice places to set this up are Lagos, Abuja and probably PH.

He should look at something else

Carfreak966:


Baba his location doesn’t matter. I am in the music industry. Almost all Disc Jockeys have their own systems. Even if his location matters, choice places to set this up are Lagos, Abuja and probably PH.

He should look at something else

You are Right, 70% of DJs have their sound system.

During this covid 19 pandemic I believe such business will not be lucrative for now due to the banning of social gatherings. This is the food era or you can search for more business ideas here: https://modsfavour..com. The articles in this blog will go a long way for you to sit down and choose the best ideas as possible. that will be lucrative during this period. You can also call me on more highlight of the business you desire to do. Think before you leap.