A Nigerian lady who owned a restaurant has opened up about why she closed down the business within seven months of operation. She stated that she had spent N20 million on the renovation of the restaurant, emphasizing that the closure was not due to low sales.
Many who came across her video shared their thoughts on the reason for closing down the business, as the video went viral.
Businesswoman Closes Restaurant After 7 Months
Identified as @ufy__ on TikTok, the lady shared how the cost of running a physical restaurant drained her financially. She explained that the issue was never a lack of sales but the high cost of running a physical restaurant in the current economy. She noted that anyone who owns a business in Nigeria, especially a food business, would understand her predicament.
She stated that although she paid for a two-year lease, she used almost one year to renovate the space. However, her landlord later increased the rent from N350,000 to N700,000. The businesswoman revealed that her yearly cost exceeded N900,000, including other charges and rent.
She added: "This is your reminder that sometimes, closing down is not failure. It is wisdom. It is redirection. And sometimes the strongest thing you can do as a business owner is to know when to pause, rethink, and start again smarter."
Reactions as Businesswoman Closes Restaurant After N20m Renovation
Precious Nkiruka commented: "Some in the CS said 'there was not proper planning from scratch' LMAO! I work as the Admin & Marketing officer of a very popular fast food business in Abuja. Physical restaurant business CAN BE FINANCIALLY DRAINING!"
Realestate.bytayo said: "Your mistake is not starting small. Just because you have the resources doesn't mean you have to start big. I own a gas station so I can relate. Learn from this and stop wasting money. Start smaller and scale. You will learn a lot of lessons while growing without devastating consequences."
Sumptuous pot said: "I think you did the best thing for you and your business as well. The end goal is to make profit, so whether it's at home it doesn't matter as long as it happens."
BLESSY said: "Omo, I'm also a chef but I do that from home, but at times no market."
Restaurant Owner Installs Solar Electricity, Mentions Price
Meanwhile, Legit.ng previously reported that a woman who runs a restaurant business danced and celebrated as she finally installed solar electricity at her place of business. The excited businesswoman shared the amount she used to install the solar electricity, which could power six air conditioning sets and four big freezers. She mentioned that she used to spend N200,000 every day on diesel to run her business before installing the solar electricity.
