One of the easiest forms of banking
in Nigeria today is thrift Collection which is also known as Ajo’ or ‘Esusu. Thrift
Collection which is also called Ajo’ or ‘Esusu is another form of micro finance
banking business currently practiced in most marketplaces and neighborhoods. Thrift
collection is a saving and loan business where most market women and men are
been empowered. This particular business is a business of trust and integrity
and it is only very few people that have what it take to be successful in the business.
Thrift collection business is a very profitable business if it is done in
proper way. As a thrift collector you charge
the customer monthly for saving money with you. Let us do calculation;
If a customer is saving #500 everyday
you charge the customer #500 every month. Which means if you have about 100
customers that are saving #500 on a daily basis, you will be making about
#50,000 every month. In thrift collection business customers are charged every
month according to what they save on a daily basis. As a thrift collector you
make more money when customers save a good amount of money on a daily basis and
you also make more money when you have a lot of customers. Another way a thrift
collector make money is by giving out loan. As a thrift collector you can give
out loan from customer’s savings, but you need to be very careful. Let us look at the requirements of starting a thrift
collection business in Nigeria. The following are the requirements of starting
a thrift collection business in Nigeria;
1. Choose a unique name and register it:
Choose a unique business name and register it with Corporate Affairs
Commissions (CAC).
2. Print a passbook: You need to print a
passbook for customers. This passbook will be with the customers. This passbook
is what you will be using to record the daily payment of the customer.
3. Get a book register: You also need
your own personal book register for recording customer’s daily payments. Make sure
this book register is kept safe.
4. Get a nice bag: You also need a bag
where you will be putting your book register and customers money as you are
moving.
5. Get small motorbike: Getting a small motorbike
will really make your work easier. And it will help you to reach out to a lot of
customers.
6. Visit different markets: To succeed
in thrift collection business in Nigeria, you need to visit a lot of different
markets. Market men and women are the targeted customers in thrift collection
business.
7. Honesty: This business really
requires a lot of trust and honesty for you to succeed.
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