Hello Everyone,

I work as an auditor in a Multinational and I sell foreign used cars as a side business. This post is motivated by the need to scale up and meet demand for my side business of selling foreign used cars through an arrangement with 4 investors in the first phase of expansion. This arrangement would offer a window for the first phase of 4 investors to put their idle cash to a better use and earn significant returns on their investment.

I have been in the business of selling foreign used cars for roughly 2 years and have closed a substantial number of deals within this period at profit margins that have far exceeded my expectations considering that I have tried various investment options in the past ranging from money market funds, fixed deposits, forex trading, hire purchase arrangements etc.

At this stage, with the profit margin that is guaranteed to accrue to the investors, it is needless saying that the bulk of the pie goes to these investors while my take home is an immaterial and intangible portion of the pie.

Background
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Just like several others, I have had challenges in the past with where to put in idle cash. You would agree with me that it is no longer news that interest rate have plummeted across Nigeria and the world over. At this time, money market funds are in the region of 5% per annum which is even considered marginally higher than the interest rate on traditional saving accounts.

According to the last National Bureau of Statistics data, inflation rate is put at 12.34% which means that the interest earned on money market funds and traditional savings are aggressively being eroded by the high inflation rate. With these, it is evident that it is no longer rational from an economic standpoint to hold funds in these arrangements. The real sector offers a far better alternative. In the past, aside savings and money market funds, I have also ventured into hire-purchase and forex trading arrangement that both ended in premium tears.

Drawing from my experience of closed car deals, I can confidently say that my business of selling foreign used cars have been consistently profitable with an even low risk.

Business model
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I have been largely successful in sourcing for good deals for used cars in North America/Europe through a network of dedicated suppliers and selling for a decent profit within a reasonable time frame.

The cars purchased usually requires fixes that are done by my team of experts. At the end, the car is put in premium condition and then I sell for slightly below market price. Slightly below market price, because I am not a regular car dealer that slams abnormal profits on cars. I aim for a decent amount and once this is realized I move on quickly to the next deal.

With this structure, it takes 2 months on the average for the car to arrive Lagos, Nigeria and another 2 months to fix and sell. That’s 4 months for a cycle to be complete.

Benefits to Potential Investors
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As previously mentioned, this post is motivated by the need to meet demand and ultimately scale up the business. For the investors, it offers an opportunity to be part of the business while earning an unparalleled return on capital employed.

To achieve this objective in Phase 1 would require 4 partners to invest a fixed sum of ₦1.6 million each with a guaranteed Return On Investment of 12.5% at the end of each cycle (4 months). A contract would be drawn to that effect to spell out all the modalities.

I have attached a sample of deals that I have successfully closed out.

Please feel free to reach out on 08180460155 if you have questions, require further clarifications and would like to run background checks.

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