There are some businesses that you will see people talking about how profitable they are while others have a different story to tell about how they incur great losses from that same business...
Why is it different for everyone, first of all, when setting up a business, the location really matters, it is not wise to set up a hotel business in a street unless you are satisfied with only people in that street and vicinity patronizing you, such business is meant to be on a roadside where people traveling can see it, that alone is a good way to create awareness for travelers and people who want to have fun or need privacy to branch.
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There are two businesses that I want to write about which people hype a lot that they are profitable.
Transportation Business
Here in my country, when you ask people for advice on the kind of business you can do to make a good profit before they mention up to ten businesses, they will mention the transportation business which is because of how profitable this business is, You will be surprised that those bikers earn more than bankers and some other white collar jobs, A bike man earns at least 9000 Naira every day and this also depends on the location as it can be more than this, 9k multiply by 30 days is 270k and I don't think bankers are earning up to that monthly aside the managers and other big positions.
The same goes for drivers, a bus driver earns an average of 20 000 Naira as a profit daily, if we calculate that it will be 600 000 Naira monthly which is not something most salary earners can earn, unfortunately, some people were disappointed after venturing into it, what could be the reason why it didn't go well for them?
We need to have an idea of the business we want to do before venturing into it, a lot of people buy bikes and motor and give them to people to ride/drive for them while they get a certain amount daily which is a good idea but people don't maintain things that do not belong to them which is why within few months, the vehicle would develop a fault and all the money gained would be spent on repairing the motor.
You must handle your motor alone to succeed in the transport business.
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Barbing Salon
This is another profitable business, it requires little investment and more skills because it is when a customer likes the way you barb their head that will make them come back or turn you into their special barber... Another mistake people make is setting up this business without knowing how to barb but instead employing people with the skills to work for them...
It is not a bad idea until one of your best workers decides to open the same business close to your shop and your earnings drop drastically.
What happened?
The salon I barb my hair now, there is a guy there that I prefer barbing my hair, I don't like to barb if he is not there because he knows how best to handle my hair, imagine such a guy leaving the salon to open a branch somewhere not far from there, I would stop going to the old salon and patronize the guy instead and the same applies to other people, most people fall in love with their barber and the moment the barber leaves the salon, they look for him or find another place that knows how to handle their hair.
In most cases, no one wants to serve a master for long now, you can employ someone today and within 2 months, he said he wants to leave, either go to school or change environment, and every time you change your workers, you are losing some customers and before you know it, the business will die...
If you are good at barbing and you have the money to invest, it is a very profitable business, people fall in love with the barber, not the shop. So the moment your customers love you, your business will thrive!*
Just call me Burl.
I am a professional gamer, motivational speaker and a crypto enthusiast
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