Sunday, 18 June 2017

7 profitable investment business ideas


7 profitable investment business ideas

The world has gradually become a Global Village, with investment opportunities on the rise every day. While we try hard to understand and believe that investment is the key to a truly successful and sustainable future, we also have the responsibility that comes with consciousness to note that not every investment opportunity available is truly legit more so, not all legit investment opportunities are widely available. The central focus of this article is to bring to the fore, 7 notable investment opportunities that are legitimate opportunities and ought to be treated with care as a disseminated fact by every wise investor out there.


Cryptocurrencies are digital currencies used for digital commerce and transactions, in other words
they’re called electronic currencies. A perfect example of a leading cryptocurrency is the ”Bitcoin”. What is bitcoin? Bitcoin is a digital currency invented in 2009 as a trade medium between distanced dealers. As at then, the value of bitcoin was estimated at just around $1 per Bitcoin, in 2016 1 bitcoin was already being valued at around $500 per bitcoin and what’s the exact story today? Today 1 bitcoin stands at $2500 and still rising steadily.

 Let’s take a quick scenario, assuming one invested a minimum of $10 in bitcoins in 2009, that amount could purchase 10 bitcoins. Being allowed overtime, the 10 bitcoins would be standing at a whopping amount of $25,000 in that wallet today, this is the actual fact comparison of what is the case with cryptos.

 However, it's never too late to take an action because with the statistical look at unfolding events, Bitcoin is headed for $10,000 before January 2018 and you sure know you’d have yourself to blame if you never bought a place in this future of an endlessly guaranteed value.

There are still other digital currencies worthy of investing into, this includes Etherium, Billion Coin and Dodge coin. You may need some more efforts on a little further research to determine the best coins you would like to invest into.


2… INVEST IN AGRICULTURE
The sectoral value of Agriculture is one of the few that would never become less valued at any time. Held up in a very high esteem, agriculture is one of the basic elements of a successful economy. A country or nation that has food abundance as a net result of  Agricultural engagements or import benefits is a country with wealth.

 Simply put, Agriculture is wealth. Investing into agricultural opportunities is one of the wisest decisions an investor would ever make. The net returns from Agricultural investments is usually above a 200% ROI and an economist best explains that.
Education has remained the future of humanity from times unknown. The need to learn, acquire practical knowledge and wisdom has always been one of the greatest desires of man. For this reason, it is very possible and easy to assume that investing in education would only bring but rich returns but then, I must point out that managing an Academic institution is definitely one of the most stressful exercises of all times.

However, even without building a school directly, an investor can still tap into the opportunity of investing into scholarship programs with a well-mapped out provision for returns.

4… INVEST IN GOLD
Ancient Egypt was a gold mine, they were merchants and known miners of precious stones and pearls. Today, merchants still exist whose principal investment circles on precious stones and most precisely Gold, Diamond, and Silver.

 As a precious stone, gold has made itself very invaluable. Gold never depreciates in price neither does it in value.

However, if you’d search, there are many Gold scams available both online and offline you’d find, sure you wouldn’t want any of those. Hence, research and scrutiny must be carried out for best and legit Gold investment opportunities to be discovered.

Also remember, Gold has legal trade guidelines laid down and regulated by the governments.

5… INVEST IN RENEWABLE ENERGY
If you want an investment provision that would gradually deteriorate over time, perhaps pay good bucks for a few years and gradually wane down, invest in Non-renewable energy.

But if your guess is as good as mine and you would want a true investment that could probably serve you to the fifth generation and beyond, Renewable Energy is the right investment program to fit into.
  
For those who know what it is, and for those who understand the do’s and don’ts of the business and its idea, Forex is a near-perfect investment program to hop into.

With a proven long-term existence of sustainability, forex has enriched millions and inarguably turned their lives around, you too can be
touched.

Forex is simply a foreign exchange market where currencies are traded against their fluctuating values. However, the market has success rules that must strictly be adhered to for positive returns. You’ll need a broker, not just a broker, but an “experienced broker” and an excellent coach!



Lands are immovable, they cannot be moved about, but their most obvious characteristic is their invaluableness. Lands, houses and landed properties have one thing in common. Unlike cars, they do not depreciate in value. With a mathematical graphical representation plotting value against time, a straight line curve clearly indicates that ‘value’ moves uniformly with ‘time’ and in practice this is the actual case except on occasions where flooding and other phenomenal characteristics have affected position and structure. 


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Monday, 5 June 2017

How to make payment when importing goods from China



China is one of the most patronized country when it comes to importation, be it general merchandise, clothing, shoes, household items etc. Due to the country's interest in manufacturing processes and high export capabilities, it has become the world's largest export base and interestingly they are living up to expectations with what seems like an unlimited strength. However, while there are many people doing business comfortably with Chinese producers and suppliers there are still local importers and wanna-be foreign importers within who do not know exactly how to go about payment procedures with China and would appreciate learning just how they can transact business with these export counterparts.

I've gotten several requests from importers who would like to extend their import boundaries from neighboring African countries to China and beyond, asking me to address this and I had to pen down this article for their benefit. If you're one of such categories, here is definitely an article you've been looking out for. Now let's discuss how to make payment when importing goods from China. Truth is, for these and other import processes there's simply no best method of payment because every payment method entails a measure of risk and your choice has to be dependent on a couple of important factors to consider.

1... Telegraphic Transfer
A telegraphic Transfer is a kind of Electronic wiring system for transfer of money usually used overseas or for intercontinental transactions. It originated with the U. K banking system. It is apparently the oldest method of payment from the commencement of intercontinental trades. It is most advisably used for medium funds transactions as well as low funds transactions. A part of the agreed sum is paid or sent in advance and then the completion sent after a satisfying feel of the product or products desired.

2... Sourcing Agencies
These are private or commercial agencies who meddle with the politics of international transactions, they usually have foreign branches in many countries across the globe so what they do is receive your cash deposits in your country and then send word across to their foreign counterpart in China or elsewhere to make the needed payments to the needing companies. As swift as it can be, it is very quick, trustable and reliable. So you can actually pay for your goods from China through sourcing agencies, though they charge quite a bit above normal banks but they can be totally dependable, I know many importers who deal regularly or transact frequently with sourcing agencies while purchasing goods abroad.

3... Western Union
One of the fastest and swiftest payment means of all time. I think this is actually the most widely used owing to its high compatibility rate because it is available in virtually almost all countries around the Globe. With western union, all you have to do is walk into any bank that has this provision, request for a related form to fill which would include some coded messages, questions and answers. You pay the cash value of what you're to send to your Chinese counterparts and you also pay the required charge for the transaction. In less than 48 working hours, the transaction would be sent across, you'll only have to supply your receivers with the question and answer protocols you filled your transaction form with because that's what allows them access to the said funds. It's as simple as that.

4... Credit Card Payments
Yes, another electronic means of payment that evolved not too long ago is the Credit Card payment system. Yes, it surfaced ever since Global Banking was initiated. A credit card is usually connected to a credit account where you can always store business funds. You pay for it to be funded by exchangers. Now the funds in the business account are readily available for use for online purchases or payment for goods through your credit card service. Talking about swiftness, yes credit cards afford you convenience and swift service when it comes to electronic transactions because electronic transfer systems usually do not take longer than a minute in the absence of network errors and in the presence of a stable network support system. But then the associated risk is, they can be hacked into and dissolved if not we'll be secured.

Best regards

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Friday, 26 May 2017

7 types of people you should avoid when starting your business

7 types of people you should avoid when starting your business
Do you know that starting a business is one of the most, if not the most challenging tasks any individual can embark upon? Why is this the case, you might ask?
First of all, consider that you are about venturing into a world of uncertainty. Now you may have carried out your feasibility studies, obtained the training and expertise needed to run a business as well as gathered all the resources to hit the road running; but remember that the business world offers no guarantees.
There are no guarantees that that there will be no change in fiscal and monetary policy that will effectively shut down the operations of your business.
There are no guarantees that your target market may acquire new tastes and needs, hence rendering your product/service redundant.
There are no guarantees that a competitor will not emerge down the line and cut into your market share and hence cut down your profits.
Indeed, starting a business means you will need to be a self-starter and have loads of determination and optimism to succeed. Therefore, it becomes imperative that you surround yourself with the people that have the same attitude and hunger as you do.
In the same vein, it is just as important that you avoid certain categories of people when you begin your entrepreneurial journey. These categories of people have the capacity to derail your vision in business; they can also impair your views about life in general. These categories of people to avoid include the following:
1.Avoid People who seem to Know It All

Businesses thrive and flourish when their owners are constantly in the search for more knowledge; better ways of offering a product or service to their customers. It is what has kept businesses like Apple and Facebook relevant; posting impressive profits because they continue to research, innovate and seek knowledge. You cannot perform below this standard.
Therefore, it is important that you get rid of people who feel that they have all the knowledge and do not see the need to better themselves.
You must shun these people simply because your business needs you to constantly be on the lookout for new and better ways of solving the needs and want of your customers.
2.Avoid People who Nag and Complain a lot

Starting a business will require that you possess loads of determination and focus. Why is this the case? It is simply because there will be times when you will face challenges and setbacks that will question the very basis of why you started the business in the first place. It is at those periods that you should be thankful for the little victories that you may have garnered up until that time.
If you surround yourself with people who are never grateful for what they have accomplished, even if small but would rather throw tantrums and whine about how things can be better, you may end up assuming such a disposition to your business and life in general.
3.Avoid People Who Massage your Ego

You have begun your entrepreneurial journey and the time has come to bring on staff and advisers that will help propel your venture forward.
It is pertinent to note the person who always sings your praises, always demurs to your every whim and tells you that you can do no wrong. Run away from people who cozy up to you in this way. What you and your business need are people who will be bold enough to push for what they believe is the way to go in your business, even if their opinion is at odds with yours.
4.Avoid People who are Overly Pessimistic

There are certain people who will always envision the worst possible outcome for any plan or project. If such people had their ways, they would not even get out of bed in the mornings. If you surround yourself with these kinds of people, you run the risk of viewing every potential business action or project through the lens of it failing or worse.
You must realize that starting a business itself is a risk but a calculated one, when you are able to plan and prepare adequately.
5.Avoid People who want to Always receive all the Credit

In starting a business, you will be deploying both human and non-human resources in meeting the demands/needs of your target market. This will mean that you will lead and be a part of team that will implement the objectives of your business.
It is important that you avoid recruiting people who are self-centered and are not team players. They usually want to be in the limelight and receive praise for accomplishments whether or not it is directly from their efforts or not.
Such people have the potential to disrupt team synergy and cohesion and could engender an unproductive atmosphere in the business.

6.Avoid People who try to Cut Corners

You will do yourself and your business a world of good when you shun individuals who are in a hurry to earn a buck or seal a transaction. This should not be confused with employees who go the extra mile in making sales and getting new markets. People who cut corners, on the other hand, will try even illegal ways and means to get something done.
Their actions have the potential of not only corrupting other members of your business team, but they could also put your operations in trouble with the laws of the land.
7.Avoid People Who Sow Discord

There are people who get a thrill from fanning the embers of business place gossip and hearsay, while at the same time smearing the reputation of others, in order to advance their own causes
You will do well to shun people who seek to get ahead in your organization be resorting to creating conflicts and standoffs in order to lay the blame unfairly at the feet of others.
This list is by no means exhaustive. The success of your business rests squarely on your shoulders. You must endeavor to populate yourself with the right people, with the right attitude, in order to ensure your business runs smoothly.


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Saturday, 20 May 2017

9 solid reasons why you should invest wisely on cryptocurrency



9 solid reasons why you should invest wisely on cryptocurrency

Cryptocurrencies are in other words called digital currencies, they’re electronic currencies, they’re best understood as virtual currencies that are not physically accessible but are very highly valued online as trading currencies. The world is fast developing into its uniform digital age, almost everything can be done with the use of the internet now with both striking speed and amazing convenience. To start with, there are well over tens of cryptocurrencies currently available on the currency market. These include bitcoins, litecoin, the billion coin, etherium, unocoin, trumpcoin etc. for some of them, their values and worth have been established while some are still fighting for recognition and complete relevance. In this article, I desire to give you 9 solid reasons why you should wisely invest in cryptocurrencies as they are the future of investment as a policy for an enviable lifestyle:
1…. They are not controlled by Banks

As we know for every other National currency like the Naira, Dollar, Euro, Pounds etc. The Central banks of each of the countries involved are completely aware and in control of every single transaction taking place with their currencies on an accumulative basis. With cryptos, it's different, you’re your own bank, you’re completely in control of whatever you do with your coins, there’s no third party snooping around and monitoring your transactions, the only third party involved is your hosting service or your platform for exchange and this is a plus on the benefits cryptocurrencies afford you.

2… Their values increase over time

Bitcoins as an example of a good cryptocurrency was launched in 2010 at the price of less than $1 per coin, today 1 bitcoin equals approximately $1,520. This is incredible! A similar kind, “the billion coin” generally termed as TBC was launched in March 2016 at the value of about 1 Euro per coin and today 1tbc is worth well over 1,000 Euros. This is an incredible credibility score!

3… They’re universal currencies

With cryptocurrencies, you’re a global citizen. That is, you can travel to anywhere in the world and cater for your expenses with bitcoins as long as you have access to your wallet because bitcoin is accepted globally. What’s more? Many online merchant systems now accept payment for goods and services via the use of bitcoins and other e-currencies. This simply explains that the world is steadily advancing.
4… They can be used to acquire properties anywhere

Because cryptocurrency is becoming generally accepted, they can now be used to purchase a whole lot of things including properties and assets. In Nigeria West Africa for instance, large acres of lands, Cars, and Houses are now available to be bought with either full TBC payment or half TBC half cash payments and this is a great development. A colleague of mine purchased a land worth of N600,000 with a payment method of half TBC half cash payment just recently, so he actually paid a cash sum of N300,000 and a subsequent TBC pay value equaling the left over amount. It’s a great advancement practicable in so many other parts of the world too.

5… They incur fewer transaction charges

To the best of my knowledge, cryptocurrency transactions are much more economical than real bank transactions. With a third party like Blockchain, bitcoins can be transacted with ease with just a transaction charge of 0.001 bitcoins which is just about $1.5 far lesser than what real banks charge. I guess you see the difference.

6… Their transactions are swift and confirmations are quick

Cryptocurrency transactions are much faster than real bank currency transactions. Blockchain confirmation, for instance, takes not more than 3 minutes and actual sending takes not more than 20 seconds with no network distortions and this is irrespective of wherever you are in the globe or sending to.

7… They cannot be affected by Robbery occurrences

Real life banks are affected with robbery incidence and monies are skived away without a trace while cryptocurrencies are not and this is because they are Digital currencies that can only be controlled and produced online. Inflation of local currencies has no effect on them. Also, Cryptos cannot be stolen except for the case where accounts are hacked and they are transferred, otherwise a secured wallet cannot be easily hacked into. They have secured currencies.

8… They are not controlled by the banks
Because they are independent currencies, cryptocurrencies have no regulations from the banks. Banks do not and cannot operate them, they also cannot be shut out of existence by banks or bank agencies because they are not owned by anyone and are not produced in any known place of existence. Their creation ad existence are just cyber!

9… They do not fade in value
Cryptocurrencies do not fade in value, rather their values keep increasing as the day goes by and even if they fall slightly in value they usually recover within a very short space of time. They do not fall or depreciate in value for long or struggle to regain strength like other currencies. They’re not in competition with any currency, they all have a chosen course and an ultimate goal which is to take over the Global currency system as Universal currencies.

The time to join the crypto-world is Now! It’s simply the future you see now! Cryptos don’t fade…

 Kindly hit our comment section right away if you have stuff for us with regards to this.








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Monday, 15 May 2017

How to avoid common mistakes when buying a property in Nigeria



There are numerous mistakes people make when purchasing properties in Nigeria and a good number of them would be outlined in this article as well as possible ways to avoid making and repeating such costly mistakes. These mistakes could lead and have actually led to numerous practical loss of possessions for individuals and even cooperate bodies as well as warranting unnecessary legal proceedings for reclamation of properties either by the buyers or the sellers.
Please take care to note as you read through...


1… Take note of “this property is not for sale” tags
Most properties with this tag usually end up in trouble and loss if being purchased. Usually, there is
always a contact number attached to such tags, endeavor to connect and meet directly with the owner of the contact on display and deal with him or her directly, asking to know for sure whether or not the property is for sale or not. Do not for any reason accept beautiful but lame excuses given when you request to relate with the owner of the said contact, if
you can’t be allowed to contact the phone number availed, it’s definitely going to be a bad purchase. I tell you, run with your money!

2… Legal documentation and endorsement
Ensure that whatever properties you purchase or intend to purchase are legally endorsed in writing and stamps or sealed by the appropriate names and
signatories required. It is very important to note that the consequences of not doing this can be avoided if you do it. Do not postpone any step or meeting, ensure you follow everything to the very end.
3… Run a thorough background check on the property in question before proceeding
Ask around, ask questions, ask close and distant
neighbors around the property about the authenticity of the said property, ask for clues, find out if there are any active or past controversies on the said property, if yes be your feedback, pause until there’s been a resolving of the associated problems otherwise you might be buying a bunch of problems all to yourself.  After one of such enquiries, a man, an intending
buyer was able to find out that the property he was just about to purchase worth over Eleven million Naira had been sold and resold 5 times already and none of the cases has been dissolved yet, he would just have been the 6th culprit and you can only help but imagine the disaster.
4… Check for stable conditions and lag areas
If you’re buying a house, check thoroughly to see it’s in favorable state and in good condition at the most a habitable condition. If you’d be renovating, remember the cost of the expenses of renovation should affect how much you’re paying for the purchase so you don’t end up spending more than the average on the net calculation budget. If you’re purchasing a land or several plots of land, check for the availability of development enhancing factors such as nearness of a tertiary institute, a market, a proposed public project, etc. this helps you determine how quick or soon the place can be developed to your benefit and gives you a possible quick and future estimate for your investment. At the same time, check for subtle signs of erosion or flood tracks, all these are necessary to discover.

5… Ensure there is a Guarantor and witnesses if possible
Ensure you have as many witnesses as possible and a guarantor who should be responsible for anything gone wrong, all should be good recommendations. These witnesses help in any case of future controversies or misunderstandings. Do not sign a purchase deal or pay without real witnesses being provided, no matter how real it may appear to be at the moment, chances are you may lose out on the long run.
6… Registration and obtaining C of O is paramount for each and every landed property you purchase
Certificate of ownership is a type of legal certification from the Government that portrays their awareness of a purchased property and the owner of the purchase, it usually has more application on lands and landed properties, real estates. It is usually obtained from the state’s registration quarters. As a matter of fact, admittedly it’s quite an expensive process, large sums of money are paid to acquire this, However, it’s very much worth it as a sure security for your properties. Ensure to get it done and skip that mistake.
7… Avoid restrictive mediator dealerships
Some dealers or dealerships do not want the buyer and seller to meet one-on-one, fearing that their due commissions would not get to them if they’re allowed to meet. In spite of how true that might be, it’s always an avenue scammers use to do their jobs. Insist on meeting the seller and give them a legal security and guarantee that their commissions would be paid, whatever way you see best fit to accomplish that. The main aim is to erase every possibility of dealing with ghost sellers or non-existing sellers. Many have made the mistake of accepting to deal this way and have been heavily scammed severally like this, you wouldn’t want to make such a mistake before learning how you can avoid this.

Written by Wayne Michaels

Stay tuned for more enlightening and expository articles!

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Sunday, 30 April 2017

Top 10 Best Profitable Business Opportunities in Africa

If you are desperately looking for profitable business opportunities in Africa to invest your money in, I can confidently tell you that you will see one or two from my top 10 best profitable business opportunities in Africa.

There are so many business opportunities in Africa for any serious entrepreneurs to invest into. Some don’t even require large capital but promise a huge return on investment. So, if you are base in any of the African countries or base in the diaspora and you will like to venture into any profitable business opportunities in Africa, here is my list of top 10 best profitable business opportunities in Africa.

“Africa is the fastest-growing economic region in the world. This is the right place to invest.” Aliko Dangote
Many people are diving into so many profitable business opportunities in Africa and you are supposed to be among them after reading this post.

    1.Agricultural Business
Africa is well known for agriculture and it accounts for between 60% to 70% of any country’s economy GDP. Most Africa entrepreneurs are tapping into this profitable business opportunity. Some countries like Nigeria, Angola and other Africa countries depends largely on agriculture for their source of income and foreign exchange.

With this fact, what are you still waiting for? Venturing into this profitable business opportunity in
Africa makes you one of those people that will help cure hunger in Africa. Major crops in Africa that you can farm on are maize, cassava, vegetables, walnut, onion, yam etc.

    2.Media and Entertainment
This is one big profitable business opportunities in Africa that can make any entrepreneur wealthy. Africa’s film and the music industry has begun to enjoy huge patronage within and outside the continent.

From Nigeria to South Africa to Kenya to Ghana, Africa’s music and films now get attention from international brands that they now sign Africa artist into their music record label. These days, African actors and actress are now being featured on Hollywood.

An entrepreneur can start his or her own movie industry or record label and make good money from signed artist. Top music entrepreneurs like Don Jazzy of Mavin Records, Kenny Ogungbe and Dayo Adeneye of Kennis Music are swimming in cash presently from money they make from their artists, international record deals and ambassador deals from brands.

    3. Real Estate Development
One of the best investments you can make in Africa is investing into the real estate industry. People will always need a shelter to keep their head and if you can provide one, they will pay you forever. Families need an apartment and usually find normal homes that fit their budget and happily pay their monthly dues.

Purchasing and developing of rental properties is one sure way entrepreneurs in Africa are making their money. This is residual income to your pulse without any worry to the economic performance.

    4.Retail

Africa’s retail industry is now a multi-billion dollar business opportunity. Retail is now gradually moving from its formal open market into a more organized form in a single shopping mall and online stores.

International and local brands like Shoprite, Checkers, Edgars, Mall of America are now expanding into many countries and occupying any available spaces in big cities. Interestingly, the battle for retail supremacy in Africa isn’t only happening in physical retail chains.

Big retail stores like Konga and Jumia has grown so big in a few years of entering the market. Both Internet-based retail businesses now have a combined worth of over $1 billion. Africa is now one of the growing retail markets in the world.


    5.Create a Full-Service Job Agency
This is another profitable business opportunity in Africa. One biggest issue in Africa among graduate is getting employed. Most times, companies even find it difficult to recruit the exact qualification they are looking for.

As an entrepreneur, you can start up an organization that acts as a middle-man between job seekers and job employers and get a commission for doing it. Jobberman.com is one company that is doing this successfully and they are raking in a huge amount of money monthly.


    6. E-commerce
E-commerce in Africa is only in its very early stages, however, there are a lot of opportunities to seize. A good positioning and a well-rounded branding and customers service will help any well-funded startup in this segment to make fortunes.


7.Apps and Online Services
There are so many businesses in Africa making money from their apps as they are using it to solve customer’s problems online. These days there is almost an app for anything you want in life. Just give it a thought and you will understand what I am talking about.


Africa is not left behind in app creation and delivery of online services for consumers. In fact, if you are looking for a suitable hotel in Nigeria that meets your budget, you just need to visit Hotels.ng or Jovago.com.

Looking for Africa movies to watch, there is already an app for that. It is called, IrokoTV. What are you waiting for as an entrepreneur to launch your app or online
service?
8.Payment Solution

Online entrepreneurs in Africa are still having issues making and receiving payment online due to the restriction placed on some African countries by the largest online payment platform, PayPal.
Smart entrepreneurs who can provide a simple, easy and convenient payment solutions will be well rewarded greatly as so many Africans are now involved in one or two online businesses these days.

In Africa, there is still a huge space missing in online payment solution. Online payment platforms like M-Pesa that covers the Eastern Africa and Paga, SimplePay and PayWithCapture that is taking over the Western side is trying to bridge the gap and become Africa giant in online payment.

You as an entrepreneur can either invest in any of these companies so your fund can help them achieve this goal or you can invent the solution yourself with your own company.

9.Education
E
This is one opportunity Africa entrepreneurs need to also consider. Africa value education more than
any race I have ever imagine. However, poor access to quality education is a serious threat to Africa’s human capital and this causes many elite parents to send their children abroad for studies.

This is one best profitable business opportunities in Africa as you can start up a good school or university that can meet up with international standard.

10.Power generation
There are so many countries in Africa suffering from electricity. This is an opportunity for entrepreneurs to provide a solution and make money from it. So many companies have started tackling this problem by providing alternative means of generating power.

They are companies now providing solar panels, wind vane, generators for household so they can generate power when electricity fails and Africans have started buying into the idea. Although, it is very expensive compared to electricity provided by the government.

With the above business opportunities in Africa I have shared with you, you should be able to pick one or two business opportunities and ponder on them and take action.


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Tuesday, 25 April 2017

How to Start a Small Vehicle Towing Service

How to start a small vehicle towing service
Vehicle towing services are rendered by vehicle towing companies. These are companies especially concerned with removing abandoned or illegally parked vehicles; transport stranded vehicles; and vehicles involved in auto accidents. These companies particularly have a selection of customers such as 
small-business owners, police department, car 
dealerships, apartment management companies, etc.
With a good start up capital and a good location, you would go a long way towards making huge profits from this industry.
If you are interested in starting a small vehicle towing service, you should get acquainted with all of the various steps on how to start. The following are some steps to help you get started.

1. Choose your Niche

If you are interested in starting a small vehicle towing 
service, you should note that there are various niches 
within the towing service industry that you can 
choose from. Below are some niches within the vehicle towing industry that a small vehicle towing business can specialize in:
-          Towing of private owned vehicles
-          Towing of vehicles for government agencies
-          Towing of trailers
Aside from these basic niches within the towing service industry, you can, however, carve a niche for yourself if you are very creative.

2. Decide on how you want to Operate

Now, to start a small vehicle towing service, you will have to decide how you want to operate your business. How small do you want to operate? Would you prefer to carry out your vehicle towing service as a single-truck towing business or would you decide to hire a few drivers and operate as a small scale multi-truck business?
If you decide to operate a multi-truck towing service, you will require more capital and more than one towing truck. In addition, you will require an office which would serve as a central dispatch unit where clients’ calls would be received and available trucks sent for handling the situation.

3. Choose the Right Location

You should do your study well to get the best location for your small towing service. Before starting your small vehicle towing service, you should first carry out a thorough study of the market to see where your services would be most needed.
It is important you locate your small vehicle towing service business in an area with healthy business activities.

4. Get Registered and Obtain Licence and Permits

If you are very serious about starting a small vehicle towing service, the next thing you must do after considering the above-highlighted steps is to look for a catchy name that is not difficult to pronounce; proceed to the relevant authorities to get your vehicle towing service duly registered.
You should do well to get your business license and obtain the necessary business licenses and permits.

5. Write a Business Plan

For people who are very serious about starting a vehicle towing service –no matter how small they want to operate– the first thing to do is write out a well-detailed business plan. Now I cannot over-emphasize the importance of having a good business plan.
More important, your business plan should detail the type of towing service you want to offer –this should appear in the first section. The second section should detail the start-up capital for your vehicle towing service and how you will secure the start up capital. The third section should detail the market plan for your vehicle towing service.

6. Determine how to Get Financing

Having written your business plan, you should by now have a profound knowledge about the startup capital required for starting your small vehicle towing service. You should do your research properly to determine the start-up capital you need to start your small vehicle towing service.
According to cost analysis carried out in the United States, the minimum start-up capital required for starting a small vehicle towing service is $200,000. Although the location has a huge effect on the start-up capital, you should, however, bear those figures in mind if you are serious about starting a small vehicle towing service.
Do well to determine how you would secure the financing for starting your small vehicle towing service. If you would require financing from investors and banks, this is where a good business plan would come in handy.

7. Purchase or Lease Parking Lot

You will have to secure a parking lot for your small vehicle towing service. Most vehicle towing companies hold vehicles in their parking lots or yards for days or weeks. These vehicles are confiscated maybe because a property owner wants an illegally parked vehicle removed; or maybe because the owner could not pay to have the vehicle removed from an accident scene.

8. Purchase Towing Vehicles and Equipment

Purchase towing trucks and equipment from truck and auto supply stores. You should look for high quality towing trucks and equipment. Some types of wreckers you should purchase include rear hook and flatbed types. Most towing service companies purchase flatbeds because they can accommodate severely damaged vehicles.
If you decide to purchase used tow trucks, do well to ensure they are in top running condition because your vehicle towing service largely depends on it.

9. Obtain Business Insurance

You should do well to obtain commercial liability insurance that covers your clients, your tow trucks and drivers, and yourself. Go for a good insurance policy that maximally provides this coverage.

10. Market and Promote your Services

Market your vehicle towing business in your location. As a new starter in the vehicle towing industry, you can find customers from a variety of sources. Some of them include car dealerships, small business owners, apartment management companies, police departments, garages, individual motorists.
Have a business card (keep it simple). Advertise your business in business magazines, television, and radio. List your vehicle towing business on local business directories to enable prospective customers to find your business.
Take your business to the cyber world. The world is moving on a fast lane and going cyber is the way forward. Create an online presence for your vehicle towing service regardless of how small it is. Have a functioning website that people could log onto. 
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