Recently, I have been teaching young people that one of the best strategies today is to take over what others are not doing well and do it better. During my stay at a hotel, we had to find a place to eat outside, as the hotel’s food services were lacking. We were directed to a local eating joint, known as “buka” or a cafeteria in Nigeria. The food there was outstanding, and three of us ate for the same price at what one person would have paid at the hotel.
The Power of Good Food:
The next morning, I decided to go back for pounded yam with melon soup and goat meat. When I arrived, the place was bustling with people. I counted about 25 customers, mostly young men from the Gen Z generation, arriving in cars. This was around noon, and I imagined how many sets of 25 people they had already been served since morning. I overheard someone paying 14,000 Naira for their meal, and several others were placing similar orders.
Calculating Success:
If we estimate, the turnover for that food joint could be between 3 to 4 million Naira a month. A young entrepreneur running such a business decently could make significant profits. Nearby, there was a car wash, attracting customers who would eat while waiting for their cars. Anything related to food has the potential to generate substantial income.
Adding Value to Existing Ventures:
While discussing with my team, we realized that many people complain about the lack of jobs, yet there are countless business opportunities. Young people should consider taking over ventures that are not being run efficiently, add education, class, and a touch of modernity to them, and they will thrive.
The Legacy of KFC:
Remember KFC? Colonel Sanders started his business in his 60s after facing numerous rejections. He took a simple fried chicken recipe and turned it into a global empire. His story is a testament to the power of perseverance and seizing low-hanging fruits. You too can start with that small business idea in your head, people will pay for it. Never underestimate the power of little beginning.
God bless you.
