Talent manager and entrepreneur Ubi Franklin recently proposed an investment strategy aimed at growing small-scale food vendors in high-traffic Nigerian neighborhoods into massive enterprises. He suggests that investors focus on the large population of food sellers, often referred to as Mama Puts, who operate near bus terminals and densely packed urban centers.
Franklin highlights that many of these vendors lack access to formal banking, which creates a significant opening for private capital. His proposed model involves providing individual vendors with 50,000 naira in daily working capital. According to his estimates, these vendors could potentially yield significant returns, allowing the investor to recoup their principal while keeping a share of the daily profits.
He calculates that by securing a 50,000 naira daily return from a single vendor, an investor could generate millions annually. Scaling this effort across 100 vendors, he claims, could result in earnings exceeding 1.8 billion naira. While the concept is mathematically intriguing, Franklin noted that success depends on factors like food costs, location, consistent sales, and clear agreements between the parties involved.
