With the country’s inflation rate at 15.75% and recession biting hard, many Nigerians have come to realize that saving their money or depending on a sole source of income is not only disastrous but suicidal. Many are now delving into the world of business like a blind folded man welding at a tennis ball.
Unscrupulous individuals understand this and have devised several means of duping people of their hard earned money. In a bid to double their Naira, they end up losing all.
In my opinion, here are 3 places you can never go wrong investing in:
1) Food: No matter how tight the economy is, people will still look for food. This gives up to 70-90% profit. Either you buy from rural areas to store for some time before selling, or you buy and sell directly, your investment will surely bring dividends.
2) Daily consumables:These include toothpaste,soap, body lotion, sanitary napkin e.t.c. You will agree with me that these are essentials people cannot do without.
3) Transportation: You either have a car, motorcycle or tricycle placed on hire to bring returns to you on a daily, weekly or monthly basis.
4)Network Marketing: This is one of the most underrated industries yet in 2012 it made a total global sales of $167 billion (www.statistica.com). It usually requires little start up capital and involves word of mouth advertising and has been known to produce the highest number of millionaires within the shortest possible period. When you find a network marketing company that deals with daily consumables, it’s your plug.
5)Land: it’s one of the surest investments you’ll make. Though the return on investment will take years, getting a land with genuine certificates is a life saver and can be sold whenever in dire need.
As for those promising juicy return on investment saying they are trading with your money abroad, don’t give a listening ear. It’s always catastrophic in the end, they spring up in times such as this and disappear into thin air with people’s money.