- Ubi Franklin, a well-known entrepreneur and talent manager, shared insights on wealth building in Nigeria.
- He suggested that investing in small food businesses in busy commercial areas can be a fast route to substantial wealth.
- His comments were made during a recent interview and have generated discussions online.
Popular entrepreneur and talent manager Ubi Franklin has sparked discussions online after sharing what he considers a potentially fast route to building substantial wealth in Nigeria.
Franklin made the suggestion during a recent interview shared on X, formerly known as Twitter, where he encouraged people to consider investing in small food businesses located in busy commercial areas.
According to him, individuals looking to build significant wealth could consider funding food vendors who operate around busy motor parks and other densely populated locations.
“The fastest way to become a billionaire on the mainland or in a populated area is to invest in 100 mama-put food vendors that sell food at the motor park,” he said.
Explaining his proposed business model, Franklin said an investor could provide each vendor with ₦50,000 as capital and receive a share of the money generated from their daily sales. He added that the vendors could retain some of their earnings while using another portion to keep the business running.
Franklin used a hypothetical example involving 100 vendors to demonstrate how he arrived at his projected returns.
“Just imagine that you give them ₦50,000 to cook every day, and then they come back with ₦200,000. And you take ₦50,000, give them ₦50,000 as their earning, and they use the remaining ₦50,000 to go and continue cooking.
Every day you are taking ₦50,000 from them. Calculate ₦50,000 daily times 365 days. That’s on one person. In a year, you will make ₦1.8 billion,” he added.
The entrepreneur’s comments have generated mixed reactions on social media. While some Nigerians questioned the practicality of the proposed arrangement and the mathematics behind the projection, others viewed the idea as an unconventional business strategy worth considering.
Franklin’s remarks have consequently added to ongoing conversations about entrepreneurship, investment opportunities and different approaches to building wealth in Nigeria.
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