Could setting Up a Business Inside Markets be more Lucrative than the Streets?

Running a business can be a great way to make your own living. Flexible working hours, the attraction of being your own boss, the fresh air and a relaxed, friendly working environment are just some of the many reasons why each year thousands of people choose to set up as Traders and run their business from Markets or streets.

However, it is quite complex to assume that setting Up a Business in a market could be more lucrative than the streets. Investigation shows that the simple reason why people decide to set up businesses in Market or streets differ. In an Investigative findings among traders and business people around Alimosho, it is quite observable that people specifically go to markets to buy specific goods. This ascertains the words of Mrs Amomoah Princess who opined that Setting Businesses in Market sells more than the streets. According to her: “People go to market to buy Specific Goods. For example, if I want to buy rice in Bags, I go to the market because it is cheaper than the Streets. I don’t think Street Business is more lucrative than the Markets”

Princess stressed that Markets is a Formal Platform for business an as such it sells more. Perhaps, it is the most lucrative place to start a business. To her, “When you start a business in a market, there is an assurance that you will make Sales. Unlike streets where there are strategic time when sales are made. People that run street business make sales mostly in the morning and evening when people are at home but market business generates income through out the day.

Contrary to Princess Opinion, Mrs Olatoye, A Small Business Entrepreneur and owner of Sydney and Friends store said that Street Business is more lucrative than the markets. According to her: “Market are strategic Places to set up businesses but Streets is the most lucrative.” To her, Streets are more spacious, quiet and Peaceful for Selling goods unlike most Markets rwhere everywhere is choked off and buyers do not have enough comfort when buying goods. “People don’t like going to the markets again because of the Stress Involved. The price in the markets is now the same as the streets.” She added.

Speaking further, Olatoye also said that the citing of business is also essential in determining how lucrative such business would be. “Look at where my ship is located, people passing by on the main roads either with foot or cars can easily see what I am selling. This is what I’m saying. Markets do not give chance for such” For her, there are enough parking spaces on the streets for buyers who wants to buy large quantity of goods and move them to their car. It is easy unlike markets where you will carry it a long distance to where your car is parked.”

For Mr Mike Okafor, Chairman of the Association of beeds sellers in Ikotun Market, Vast knowledge of the Business and the most appropriate Set Up Spot is most required. Mike Said “Every business has its own Spot. Having the Knowledge of the business is what the owner of the business should know. When you have the knowledge of the business, you will know how go about it. Some business are good for Streets while others are good for Market Area. For example, We have People in the Transportation business who operate in Local area while others operate in the Major Roads. This same Procedure apply for other businesses. Some Business are good for Market while some are good for Streets. And we have some business who sells well in both streets an market. The knowledge of the business is the most required.”