Nigerian talent manager and music executive Ubi Franklin has revealed that he lost over ₦1 billion in a business venture that collapsed before it could launch, attributing the failure to poor compliance, logistics failures, and timing issues. Franklin shared the painful story on his Instagram page on July 22, 2026, as part of his Talks with Ubi Franklin podcast series, where he regularly discusses entrepreneurship and personal growth.
From Laundry Service to Industrial Venture
According to Franklin, the venture began with a customer base built around laundry services. Recognizing sufficient demand, he decided to scale up by investing in an industrial laundry operation. He traveled to Italy, purchased heavy-duty machines, secured a property, and made all related investments required to launch.
Port Delays and Demurrage Charges Derail Plans
The problems started before the machines could reach Nigerian soil. Port clearance complications and documentation issues led to significant demurrage charges, delaying the arrival of the equipment for so long that the business window closed entirely. Franklin wrote, “By the time everything could have been resolved, the business had already collapsed. The timing was gone, the cash flow had dried up, and the opportunity had passed.”
Franklin emphasized that a failed business is not always the result of a bad idea or weak effort. He argued that timing, logistics, and unforeseen complications can dismantle even the most carefully laid plans.
Message to Entrepreneurs: Know When to Walk Away
Beyond the facts of what went wrong, Franklin used the post to address a dangerous trap for many business owners: the inability to walk away. He wrote, “Don't let pride, pressure, or sunk costs keep you in something that's costing you your peace, your health, or your future. It's better to leave the business than to let the business bury you.”
Fans React to Franklin's Candid Lessons
The video drew a wave of responses from followers who found the story both relatable and instructive. @ettabellahair commented, “Your content is insightful and engaging. Please don't stop posting.” @princetheophiluz shared, “One thing I've learnt in life is... No matter the business you're doing, if it costs you your peace, shut it down! I shut down a business last year because it was costing my peace... And started all over again. And it's worth it. Thank you for these valuable stories. Well done.”
@iampatrickknox wrote, “UBI, these talks have really helped to encourage people in different facets of life, sharing your experiences will continue to sharpen the lives of many, I hope you don't stop soon, well done bro.” @rushvantv said, “Every failure carries a lesson because a great idea is coming out of it that will make you keep moving. If I were you, I would have held my own laundry service and gotten it insured. God bless you my brother.” @brown__naya added, “I invested less than a million in a business that flopped and I almost killed myself because I used all my savings…. Thank you for sharing, Ubi.”
Franklin's Broader Reflections on Life Choices
Previously, Franklin described having children with different women as one of the biggest mistakes of his life. He explained during his podcast that while he loves his children deeply, managing relationships with multiple mothers has been more challenging than financial responsibilities. He urged young people to avoid “baby mama drama,” stressing that raising children within one family unit is the best path.
