Lady Who Used N20m to Renovate Restaurant Shares Why She Closed Down Business Space in 7 Months
A young business woman closed down her restaurant business within seven months of renovating the space.
The lady, who said she spent about N20 million on the renovation, shared the reason for her decision..WATCH VDIEO HERE
Identified as @ufy__ on TikTok, the lady shared how the cost of running a physicalm restaurant drained her...READ FULL STORY; FROM THE SOURCE.
Her words:
“The issue was never a lack of sales; let’s talk about the real issue. The cost of running a physical restaurant in this economy can drain you. If you own a business in Nigeria, especially a food business, then you’d understand exactly what I mean.”
She stated that though she paid for 2 years, she used almost one year to renovate the space, only for her landlord to increase the rent from N350,000 to N700,000.
The businesswoman stated that her yearly cost was over N900,000, including other charges, plus the rent.
She added:
“This is your reminder that sometimes, closing down is not failure. It is wisdom. It is redirection. And sometimes the strongest thing you can do as a business owner is to know when to pause, rethink, and start again smarter.”
Watch her
below:
Precious Nkiruka said:
“Some in the CS siad “there was not proper planning from scratch” LMAO! I work as the Admin & Marketing officer of a very Popular fast food business in Abuja. Physical restaurant business CAN BE FINANCIALLY DRAINING!”
realestate.bytayo said:
“Your mistake is not starting small. Just because you have the resources doesn’t mean you have to start big. I own a gas station ⛽️so I can relate. Learn from this and stop wasting money. Start smaller and scale. You will learn a lot of lessons while growing without devastating consequences.”
Sumptuous pot said:
“I think you did the best thing for you and your business as well ….. the end goal is to make profit so weda it’s at home it doesn’t matter as long as it happens.”
BLESSY said:
Omo, I’m also a chef but I do that from home, but at times no market
The excited businesswoman shared the amount she used to install the solar electricity, which could power six air conditioning sets and four big freezers.
She mentioned that she used to spend N200,000 every day on diesel to run her business before installing the solar electricity.
