WHY THE BURNT ABUJA NEXT CASH AND CARRY OUTLET IS REBUILDING BUT THE BURNT ABUJA EBEANO OUTLET IS NOT

When SOBCA launched her #SOBCA40Seater, our tax consultant told me “Now that SOBCA is becoming more visible, the regulators will start showing up.” His words did not even land before we got 2 visits; one from AMAC and the other from FIRS. 🤣😂😂🤣🤣😂😂😂. Fortunately for us, we have always been compliant with our books and so we are safe.

When these happened, I was imagining the IRONY of running business everywhere in the world…

Every business wants to be PROMINENT and VISIBLE but this ambition exposes them to sharks 🦈 who will attempt to devour them. But if a business is not visible and prominent, her market chances are limited.

IT IS A YIN-YANG ☯️

This is what’s happening with EBEANO, their burnt outlet in Abuja. I have unconfirmed reports that, in a bid to avoid tax, the value insured for the outlet was N800 Million as against the real value of N5 Billion. Now that the outlet got burnt, insurance can only pay 800M but 800M cannot restore the business back to shape. Unfortunately, Ebeano is a DEMAND AGGREGATION BUSINESS MODEL, which means, IT STORES AND SELLS OTHER PEOPLE’S PRODUCTS on their behalf. Are you thinking what I’m thinking? That’s MORE DEBT EXPOSURE!!!! 😭

If you have driven past NEXT, their burnt outlet in Jahi Abuja, the entire building has been brought down for reconstruction. Why? Proper valuation and insurance at work.

These are the issues about doing business that many of us are either ignorant of or we just play docile.

At 11am this morning, I will take questions about such matters. The event is Q&A WITH COACH SAM. My co-host is SOBCA CEO, Stella Onwochei.

If you are coming physically, it’s only a token of N7,500.00. If you’re joining via ZOOM, it’s only a token of N5,000.00. Pay to: GTBank 0014480963.

If you have decided to run a business, learn how to do it profitably. See you soon.

m a k t u b!!!

The Octopus.