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Geekay Profile picture
Geekay
@gkbalogs
▪︎ Building Africa's Biggest Healthy Food Chain @sofreshng ▪︎ Lead at @scaling_partner Scaling is hard. We make it easier! CLICK LINK TO BOOK A SESSION ⬇️
Jun 6 • 8 tweets • 7 min read
14 Years Later!

Frame 1: November 5th, 2010 just came back from the Ketu/Mile 12 market to stock up for the next day store opening.

Frame 2: 14 years later, 5 States, 12 locations, 150+ team members, 500+ vendors and suppliers, billions of naira sold, 300k+ customers served by @sofreshng

Abeg we don try! Shout out to @abimsbalogun badass business partner and HR Guru!Image
Image LITTLE BEGINNINGS
Stumbled on old pictures & I am amazed at how far we have come from this tiny 3 sqm office in our corner shop at Ogba to building @sofreshng, Nigeria’s pioneer and leading healthy food chain.

It's been a long and gruelling journey

Frame 1: Me in the tiny 3qm office I shared with my wife. We took turns to work.
Frame 2: Opening day at our fist location in Ogba, November 6th 2010
Frame 3: Launch day at our 15th location in Agungi, Lagos 2023 (closed 3 outlets afterwards)

Thread 👇Image
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May 6 • 13 tweets • 2 min read
Question of the Day: Should I Start a Food Business?

Starting a food business is always tempting. After all, food is a basic human need, but while the demand is always there, building a successful food business in Nigeria's current economic climate is far from simple.

A 🧵 Silver Lining: Nigerians spend over 50% of their income on food, making it a somewhat resilient market. People gotta wat!

The Challenge: Food inflation at 40%, rising energy costs, uncertain consumer spending, and currency instability create challenges for new food businesses.
Aug 2, 2020 • 6 tweets • 1 min read
WORKING WITH YOUR SPOUSE

How have you been able to work with your wife? Easy...…................ have you seen how pretty she is? That sure helps

On a more serious note 1.      
Ensure you have an alignment on the mission and
vision for the organisation.

2.      
Have clearly defined roles, responsibilities,
and designation from the start
Apr 13, 2020 • 6 tweets • 2 min read
People ask me all the time, how do you get to hire loyal, passionate and committed employees?

I ask them in return, why should they be loyal to the company? Does the business have an AUTHENTIC PURPOSE? Is there a strong sense of mission, over & beyond making money for the owner?

Do employees feel they can achieve their own dreams & aspirations working for the company? Is d company invested in their growth, development & well-being?
Apr 11, 2020 • 4 tweets • 1 min read
Note to the "you can't go wrong with food business" geng.
You certainly can go wrong my.

I have found about 3 models that work for the restaurant business. 1. MASS MARKET with extremely high volumes, low price point and very low OPEX e.g. your local amala joints. They are money minting machines when done right.

2. HIGH-END upscale, with premium pricing, relatively higher costs, medium volumes e.g your RSVPs etc...
Apr 9, 2020 • 6 tweets • 2 min read
A short story

June 2013, I called my wife and business partner @bimsofresh and told her we would have to close our fledgling and failing business after sinking about N15 million over a period of 3 years with no returns.

Thread 👇 It did not help that around March of 2013 there was a road closure on Wempco Road due to construction which paralyzed our business, so by June 2013, things were looking dire with no future. We were practically stalled, low sales, no growth, no profit, rising cost and no way out.
Nov 27, 2019 • 4 tweets • 1 min read
That Pepsi email actually looked measured to me.

I worked 2 years in sales at Cocacola (NBC) and every day was war, in fact you would think we were a new company trying to break into the market.

The rigour in the Cocacola sales team is second to none. I remember when you had an inspection carried out in your area and just 1 out of say over 1000 sub-dealers was out of products.... it will be like someone had died and all resources must be marshalled to supply that person within 1 hour.

The whole region would be in dissaray.
Feb 4, 2019 • 8 tweets • 3 min read
Your salary is the bribe to forget your dreams. FALSE!
My job takes all my time, I have to quit to pursue my dream. FALSE!

Listen, one of the best things that can happen to an aspiring entrepreneur is working in a structured coy. Let me share a few tips on transitioning

THREAD 1. START BEFORE YOU QUIT!
Please don't let your village people win!
Test out that idea, get a proof of concept, acquire paying customers, make sure you have good traction and if possible achieve or have a clear path to Break-Even before considering quitting.