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Thursday, December 10, 2009

Money making ideas to pursue this Christmas

By Onwueme Paul

Are you looking for income generating ideas you wish to pursue this Christmas? My response if your answer is yes is to have a look at this list of ideas to pursue this Christmas.

Some wonderful money making ideas to pursue this Christmas

1. Preparing hampers for resale

Easily the most common money making idea is to assemble items that can fit into a hamper for resale. It is common among Nigerians to buy hampers for friends and loved ones. Many of the items that could be found in hampers include consumables especially biscuits, cornflakes, fruit juice and alcoholic wine as well as detergents, groundnuts or peanuts and sometimes cosmetics. Hampers sell really fast between the week preceding Christmas and the week after New Year, hence it is a very profitable venture during the yuletide season.

2. Christmas decorations and other similar services

A lot of people would want to decorate their homes and offices to fit with the spirit of the season and celebration. Hence Christmas trees and other decorations will be in high demand. Savvy business men can cash in on this to assist very busy people to decorate their homes and offices and charge a small fee for doing so.

3. Organizing picnics and social outings

This is more common with school children but could also apply to students in universities, polytechnics and other higher institutions of learning. The idea is to take a number of people to a major social outing such as an excursion, a picnic or a Christmas party. Those interested will purchase tickets for the event or register to be a part of the event. It is not uncommon for people to attend shows in which popular artistes (singers, comedians and dancers) show up. The potential to make a lot of money is unlimited at this time.

4. Sale of slaughtered chickens and other Christmas delicacies

It is traditional among Christians to eat either turkey or chicken with white rice and stew. During this season sale of turkey and chicken will be up. People will get to eat more chicken and turkey at this time than any other time of the year.

5. Sale of souvenirs

Souvenirs such as Santa Claus regalia, fireworks, items for Christmas decorations and other items peculiar to Christmas celebration can also be sold at this season. The demand is there it is just a question of being ahead of the competition.
Dear readers, you have seen some money making ideas this Christmas perhaps there are others you know about feel free to share them with me if you do. Thanks and merry Christmas and happy new year in advance.

Wednesday, December 9, 2009

How to Set up a cyber café business in Lagos Nigeria

A cyber café business is a sort of a rental business that involves the letting out of airtime (slots of minutes or hours to customers) for use in accessing the internet.
In Lagos Nigeria, there is a countless number of cafes with many of them rendering very unsatisfactory services. They often times are crowded places with many slow and not so functional computers and servers that render anything but satisfactory service delivery. This has led some people to prefer dedicated internet home services from reputable ISPs and Telecommunication companies with the result that many cyber cafes have lost many of their customers over time.

Why cyber café

We have cyber cafes for many reasons chief of which include;
1. The high demand for people to interact with friends over long distances. In that regard we find many internet users seeking to access the services of social networking media such as facebook, hi5, myspace and so on.

2. Also cyber cafes, provide ample opportunities for people to carry out research services as a result many internet users use search engines such as google to access information contained in various web pages on the World Wide Web.

3. People patronize cyber cafes to access opportunities faster than what conventional media (radio, television and newspapers can offer). In this regard, job seekers use the internet to access job vacancies, employment opportunities and so on. In this group of internet users are people who also want to be informed about other opportunities in real estate, travel and tour and so on.

Requirements

Setting up a cyber café is no mean feat. You have to overcome certain circumstances such as;

1. Registration with the corporate affairs commission.

2. Registration with Association of cyber café operators of Nigeria

3. Also registration with law enforcement agencies such as EFCC, NDLEA and ICPC

4. An account with a reputable internet service provider

5. A small or large (depending on the scale of operation) room

6. Computers

7. Servers and other internet devices

All this cost money, but with as little as N 350,000 one could set up a mini cyber café. Of course this cost does not include contingency just a rough estimate of acquiring computers and may be one year subscription.

Opportunities

Many small scale entrepreneurs have identified the need for people to surf the web and realize that location is a very critical factor that must not be overlooked. In areas with predominantly large student population, cyber cafes tend to have a large and steady stream of customers. Also in commercially active areas close to corporate bodies, there is also that tendency however with the growing popularity of internet users patronizing ISPs directly especially now that connection fees are relatively competitive, many cyber cafes may not be around for long.

Challenges

Like most businesses in Lagos Nigeria, there is a problem with electricity supply. Cyber cafes cannot operate without power and yet with epileptic power supply from PHCN, they must as a rule supply their own power using generating sets and also have to cater to other expenses that are incumbent to the business.

Conclusion

In this business, there is a limit in terms of profitability and growth as many factors work against those possibilities. Cyber cafes are good as businesses that provide side income as a result it favours small scale entrepreneurs. However, opportunities abound for exceptional cases.