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Nairaland Forum / Nairaland / General / Business / N100m Capital: Hotel Or Petrol Station Business? (1744 Views)
Filling Station Business / How To Establish A Petrol Filling Station Business In Nigeria / How To Start Oil & Gas Filling Station Business With Little Or No Capital (2) (3) (4)
N100m Capital: Hotel Or Petrol Station Business? by DonPagli: 6:30pm On Feb 01, 2023 |
Suggestions, Data, etc to back which option you'd go for, if you had N100m capital. Between a hotel and a petrol filling station in any capital in Nigeria |
Re: N100m Capital: Hotel Or Petrol Station Business? by Gift96: 6:40pm On Feb 01, 2023 |
building a hotel will be the best idea so far a good location is invoolved 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by VeeVeeMyLuv(m): 6:42pm On Feb 01, 2023 |
DonPagli:Hotel, but u have to manage it well. Be strict. Buy many lands for 100k - 500k each hold and keep wait for 10 to 20years. In fast developing areas. Or buy house cheap renovate, wait in fast developing areas. 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by DonPagli: 6:45pm On Feb 01, 2023 |
Hmmm Why do you think so? Gift96: |
Re: N100m Capital: Hotel Or Petrol Station Business? by DonPagli: 6:46pm On Feb 01, 2023 |
VeeVeeMyLuv: Interesting. You mean buy land and don't build on it. Just hold? What if the person needs cash flow and is looking for something that will generate daily/weekly/monthly cashflow? 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by famouscargo4u: 7:01pm On Feb 01, 2023 |
DonPagli: Hotel is it. |
Re: N100m Capital: Hotel Or Petrol Station Business? by Nobody: 7:10pm On Feb 01, 2023 |
PAY PROFESSIONALS to draw up business plans and feasibility studies for both businesses. Stop scouting cheap advice. Do things the right way and you will get the right results. Peace. 2 Likes |
Re: N100m Capital: Hotel Or Petrol Station Business? by DEMARCO1: 8:13pm On Feb 05, 2023 |
Petrol Station.. Every minute Money as long as it is in a good location.. But thats if hopefully 100M should cover all the Costs 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by LogicallySXT(m): 8:26pm On Feb 05, 2023 |
DonPagli: Petrol station is always higher than hotel in anyway. There are lots of reasons for that. Go for petrol station and hopefully 100m may cover all the cost. 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by yinnkarh(m): 9:53pm On Feb 05, 2023 |
As an experienced Hotelier, I will advice you to go for an hotel. However bear in my to provide at least 3 star hotel premium service cause with the 100m you won't be able to give 5star hotel premium service. If you need more information contact me via olayinka.tobi7@gmail.com |
Re: N100m Capital: Hotel Or Petrol Station Business? by ayoncox: 4:17pm On Feb 06, 2023 |
DonPagli: Please read this, you won't regret it. https://www.nairaland.com/7557230/need-financial-partners-social-network#120685726 Meanwhile instead of hotel you can build short let's and do daily renting or event hall which can have some guest rooms around 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by mrsage(m): 7:06pm On Feb 06, 2023 |
Just drive into an average petrol station and have a conversation with the manager. The profit margin on petrol trading is very low. They earn less than N10 per litre. Sometimes as low as N4. It is believed that those guys make money simply because they adjust their pumps. Also remember your petrol station may not be in a location with huge traffic. You also face issues with supply, scarcity, potential fire etc. The downstream oil and gas industry in Nigeria is too volatile with heavy government influence. Bottom line, petrol station is a not a business that will guarantee high profit margins. Go for hotel business. The growth rate of the Hotels and Motels Market in Nigeria is 33.3%, with an estimated value of $6.51 billion by 2025. Source: https://www.researchandmarkets.com/reports/5516581/hotels-and-motels-in-nigeria-market-summary#:~:text=Market%20in%20Nigeria%3F-,The%20growth%20rate%20of%20the%20Hotels%20and%20Motels%20Market%20in,of%20%246.51%20billion%20by%202025. Hotel and Hospitality is a money spinner anytime any day. Also consider short lets instead of the regular hotel. 2 Likes |
Re: N100m Capital: Hotel Or Petrol Station Business? by Hamachi(f): 12:21pm On Feb 09, 2023 |
Hotel anyday any time & everyday |
Re: N100m Capital: Hotel Or Petrol Station Business? by DonPagli: 3:10am On May 18, 2023 |
Solid. Thanks for taking the time mrsage: |
Re: N100m Capital: Hotel Or Petrol Station Business? by GeneralB: 5:44am On May 18, 2023 |
Depends on your location, but in a good commercial local, a hotel or short let apartments is more likely to bring in ROI than the petrol station. |
Re: N100m Capital: Hotel Or Petrol Station Business? by Hamachi(f): 12:50pm On May 19, 2023 |
Hotel any day anytime |
Re: N100m Capital: Hotel Or Petrol Station Business? by Ynix(m): 1:37pm On May 19, 2023 |
DonPagli:Petrol station because you will make more profit earlier than the hotel. It doesn't need so much advertising and marketing. You can even rent one to get started |
Re: N100m Capital: Hotel Or Petrol Station Business? by Hamachi(f): 11:11am On May 31, 2023 |
Filling station |
Re: N100m Capital: Hotel Or Petrol Station Business? by bigsam75: 1:31pm On Jun 19, 2023 |
Both of them are good, it only depends the location. The profit margin in petrol is low but the money cone in every seconds if u have good location nut hotel is only weekend or during festive season. But my plan is to run the 2 together if I get money. 1 Like |
Re: N100m Capital: Hotel Or Petrol Station Business? by Hamachi(f): 6:42am On Jun 21, 2023 |
bigsam75:In Nigeria today, can you run both businesses? |
Re: N100m Capital: Hotel Or Petrol Station Business? by bigsam75: 7:06pm On Dec 17, 2023 |
Very possible to run both together, I have friends that are running them together currently. |
Re: N100m Capital: Hotel Or Petrol Station Business? by Jeshurun90: 8:31pm On Dec 17, 2023 |
I have a better idea. Why not build a CBT center. Very soon Waec will introduce CBT. Every year, u will be raking money from both Jamb and Waec. There is possibility that other examination bodies will make their exams CBT. 3 Likes |
Re: N100m Capital: Hotel Or Petrol Station Business? by bigsam75: 2:37pm On Dec 21, 2023 |
Jeshurun90:Hmmm |
Re: N100m Capital: Hotel Or Petrol Station Business? by ajasay3030(m): 8:32am On May 10 |
Jeshurun90: I don't support this idea due to lack of longterm feasibility. A CBT center may rake in money today, but what of the next 10 years? Technology evolves and you can't tell where the needle swings tomorrow. Hotel and filling station business ideas will never go obsolete, at least, in the foreseeable future. |
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