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Business Management analysis

Try this business: it may be your way to financial freedom

A business will always be a business no matter how small or casual. The same business we take for granted is the same business others do to gain financial freedom.

Many opportunities are out there, but we aren't enlightened enough on the pros and cons guarding them. It isn't a must to wait for white collar jobs or to focus one business. No business is permanent, not all business will retain there profits.

It is not mandatory to start big, take a look at those the big names in the business sector, they all started with little things, KFC started as a small chicken joint, big confectioneries started as a small bakery or indoor candy producer, big transporting companies started as a transport worker. All it takes to succeed is time, dedication and the zeal to keep moving.

The business plan

This business plan can be done by those who don't want to earn extra cash but don't want to quit their job, those who don't have a job, those that need multiple source of income, those that have extra capital to set up a business but don't have enough time to monitor the business by themselves. I will be explaining all in my context.

The main equipment needed for this business plan is to get a bike (motorcycle). These are the ways in which you can purchase a bike;

• Normal purchase: just purchase a new bike, a good bike costs #170000 to #200000. You may also decide to buy fairly used bike for at least #120000 Naira but it must be in good condition.

• Installment: depending on the agreement with your supplier, you may decide to pay a starting purchase fee of #50000 or #70000 and 5000 or 6000 Naira per week till you complete your purchase.

Making profits

Most people prefer taking bike to work whether they are late or not, some people prefer it because it is faster and more effective in evading traffic.

• For those that want to ride by themselves: you can purchase a fairly used bike or a new one. Find a busy junction or street and start your business.

• For those that want it as a side hustle: you can purchase and give to somebody you know, make sure a guarantor stands for the person with a valuable collateral.

You may decide to collect delivery fee from the rider every day or you may collect it weekly. But collecting the fee weekly will reduce time and stress.

Thanks for reading

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