Not everyone believes you have to start a tech company or build a massive factory to become extremely wealthy. For music executive Ubi Franklin, one business he considers highly profitable is the everyday mama-put food business, especially those operating around busy motor parks.
Speaking about the idea, Ubi explained how he believes an investor could build a fortune by funding multiple food vendors instead of running just one outlet.
In a post on his page, he said:
“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 a motor park.
“Give them ₦50,000 each to cook food, and every day they come back to remit. Do you know how much you will make every day? Those guys make almost 250%.
“Just imagine that you give them ₦50,000 to cook, and they come back with ₦150,000. And you take ₦50,000, give them ₦50,000 as their earning, and they use the remaining ₦50,000 to go and continue cooking.
“Everyday you’re 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.”
Ubi used the example to illustrate what he sees as the earning potential of small food businesses when they are multiplied on a large scale. His point was that backing many vendors who already have a steady customer base could, in his view, produce significant returns over time.
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