Hello everyone!
How are y'all doing? Hope you're doing great. Welcome to my blog. I'm excited to be part of this week's prompts by @jane1289 which I'll like to answer the first question which is;
If given a chance, what type of business would you put up, and why?
Setting up a business requires putting certain prerequisites into consideration. Such requirements are; the type of business, is it lucrative? Because whether I like it or not, as a business person I want to make a profit. I must have passion for the business, when the profit isn't coming as expected, it's my passion that will keep me going.
The problem it would solve in the environment or community I am in is also very important to take note of. Then the cost of setting it up, is it cost effective? If not, is it something that falls within my budget? Or how do I plan to source funds? Then, my targeted customers; who are they and how do I intend to reach out to them?
I will also consider my targeted market; what kind of service would I render to make me stand out among others, is it delivery? My expected profit; what's the average profit I'd want to make on a daily, weekly or monthly basis? etc.. These and more are things I will put into consideration before starting off.
Now, coming to the question, if I have the opportunity to set up a business today, having considered the aforementioned, the type of business I'd venture into would be packaging. Packaging of snacks like plantain chips and peanuts. Why did I choose this?
Here's The Reason
Irrespective.of the economic clampdown, people must eat. And a lot of people like students, kids, office workers, and travelers like to snack on these items. Looking at what's obtainable in the market are mostly locally prepared ones with poor packaging and hygiene. Packaging it in a hygienically, labelled pack would make it stand out and attractive.
Again it does not require a high start up. With $20-$100 I could put up such a business and I could start it from my home and scale up as my customer base increases. While starting out, to build my customer base, I'll target schools, offices, supermarkets and motor parks to create awareness. I'll also look around my neighborhood, and do door to door marketing to create more awareness.
So, this is my take on the question asked.
Thanks abundantly for stopping by. See you in my next post.
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