I will appreciate your candid advise on a business decision which I feel you may be of help to provide superior comments to enable me make informed decisions.
I am seriously considering setting up a business with the little money at my disposal. This decision has been a tough one in view of the fact that, I once set up a hair dressing saloon and recharge card/phone shop in the past but the business couldn't survive due poor management by my workers among other reasons.
I know this is not a very good time for importation or international business, however, I would like to start travelling to Dubai to buy jewelleries and sell. Part of what is driving this, is due to the nature of my work which entails meeting top government functionaries on a day to day basis. I want to use the network I have built over the years as my target. This means that I have a good client base considering their status and ability to patronize me. I am on paid employment and therefore do not have time for businesses that require 100% supervision. Based on the foregoing, I want to know how profitable the business is, the intricacies, the best approach to use for such a business and any other advise that can help a sister in this circumstance.
Secondly, following the collapse of my hair dressing saloon, I was strongly advised by friends to try barbing saloon which if run on commission basis will yield income and remain sustainable. But I am afraid to venture into this business because I don't want to loose money again especially, in this hard times.
Nonetheless, I have a strong conviction that gold selling if well coached will help a great deal to increase my financial base over time.
The following are the objectives of this starting a business:
1. to make additional income other than my monthly salary
2. to increase the money at hand rather than leave it in the bank without any attractive margin
3. sustainability
4. profitability
I await your comments, suggestions, opinions etc.
Thank you.
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