Business in Nigeria or anywhere around the world requires a lot of understanding or market surveys before the venturing into it.
It is on record that some businesses don’t survive after the fifth year and they close down. This happens not only in the hospitality industry but other sectors as well.
Ajayi Sodiq, Chief Executive Officer, 247Sips, a business man, who is into retail and logistics, mortgage facilities. He gives an insight for his passion in the entertainment and lifestyle business arm of his business.
” For me, entertainment, business and lifestyle is passion driven. Doing it gives me joy and satisfaction.
” 247Sips, is making waves in the country and the expresso in nightlife style that carters for clubs, lounges, parties and also deals with event organisers.
” This also applies to our real estate arm, ProudLegit Properties, that has developed a blueprint and has been successful over the years.
” Our mortgage system is very enviable, we evaluate the financial strength of our clients, create a module for them and , they are given the opportunity to choose options that suit them.
” We also have music publishing and content ownership business unit which is up and running. We have been on a global survey for more than five years. We have travelled to France, Dubai, United Kingdom and Spain before we commenced operations.
Sodiw says no business idea requires funding at first, one can start by surveying and understanding the business red flags and the free winds creating a swap around it. When you are fully equipped with the way it works, then you can start either as a SME or dive in as an Investor Based Venture.