How to Start Thrift Collection (Ajo or Esusu) Business

Making money in Nigeria is probably one of the easiest thing to do, if you have the right information on your desk and you act upon it has fast as possible with full determination, what kills most people in business today, is that most people have little or no determination, people just jump from one business to another. To really make in business you need to stick to a business and ensure you are successful at it, before moving to establishing another one.

How To Setup Your Thrift Collection Business
How-to-Start-Thrift-Collection-(Ajo or Esusu)-Business

Very simple! Probably the simplest business anyone can start but it requires hard work and good marketing skills. To get started, you need the following things in place:-

1. Record Cards – Sorry I have discarded all my cards, I’d have uploaded the picture for you to see but, if you have done anything with Ajo people before, you should know the type of card I’m talking about. It is the card given to the depositors, where the thrift collector use to record the payment made by the customer each day. If you haven’t seen it before, ask around you must see one or two persons who may give you the sample to see.

Print about two hundred copies or any number of prospective customers you think you can reach. Some people use to collect N50 from new customers before giving out the card, you may give yours for free as I did during my own time.

2. Cash Register – It is not just enough to register the money collected on the depositors record card, you need to register it on your cash register too. Every entry has to be accurate and signed by you on both record books

3. Sales Girls/Boys – Many have been maimed in this business by the sales girls/boys they hired. If you are to employ the service of sales persons who will be in charge of marketing and collecting the funds, you must hire from your family. Such person must be a close trusted family member with good track record. This business involves handling of money on daily basis, do not hire strangers to do this for you.

4. Business Cards – This is part of your marketing strategy. You need a business card you can hand out to potential costumers.

Start your marketing from people that know and trust you. Thrift collection business is a business that thrive on trust, you must do everything you can to win and keep people’s trust. Your family and friends are good way to start and gain the needed confidence, then you expand to the market women, okada riders, shop owners and workshops within your neighborhood.

If you are able to do all things and do it well, you can be rest assured that Osusu business is a business to recon with.

Have you done this business before or you are currently doing it? Do you have anything to add? Feel free to drop your comment below, be of help to others.