WORRIED
I have this issue that I need honest advice/ opinion on.I have a thriving food mart business that birthed last year,
3 months ago,a neighbor around my business area came to me and said that he has noticed how I have been doing this business meticulously and commended the neatness and packaging.
After some days he came back to say he has a certain amount of money in hundreds of thousands and would not be having need for it till November ending,that he would like me to use it to boost the business and pay him back when he needs it. I accepted and collected the money because I needed it.
The following week,he came to say that when the money generates profit, we'll share it 50/50, I also accepted.
Fast forward to now, I did a sales analysis and shared the profit made according to "per capital"and we have 50% profit.
I told him that as he said, I will be sending him 25% profit and return his capital investment too as agreed. He sent me one long epistle stating how he is disappointed and all.
That infact I should just send the capital without the profit cos it's too small.
Personally I want to send both to him, despite the fact that he owes me for goods purchased over a month now.
Kindly advice me on what to do bvs.
I'm so very disturbed.
After some days he came back to say he has a certain amount of money in hundreds of thousands and would not be having need for it till November ending,that he would like me to use it to boost the business and pay him back when he needs it. I accepted and collected the money because I needed it.
The following week,he came to say that when the money generates profit, we'll share it 50/50, I also accepted.
Fast forward to now, I did a sales analysis and shared the profit made according to "per capital"and we have 50% profit.
I told him that as he said, I will be sending him 25% profit and return his capital investment too as agreed. He sent me one long epistle stating how he is disappointed and all.
That infact I should just send the capital without the profit cos it's too small.
Personally I want to send both to him, despite the fact that he owes me for goods purchased over a month now.
Kindly advice me on what to do bvs.
I'm so very disturbed.
HUH?This is definitely some kind of scam...please deduct whatever he is owing you before you pay him....He handed you cash?Please becareful oh, i heard some stuff related to chas in hand gifts.....It may even be money gotten from stealing or kidnapping that he is trying to launder through you...Please be careful...I may be wrong though!
If you collected cash, go get cash and return to him
ReplyDeleteHe may be right about the profit looking small to him
Maybe he thought with all that traffic that you were making way more than you are
That man knew what he did. I understood you needed money but he was up to something
ReplyDeleteToo much Naija movie won't let me take the money in the first place. I advice you send everything to him so your conscience can be at rest.
ReplyDeleteSomeone u didn't asked help from just walk up to you and offers it to u, isn't it enough not to take it?
ReplyDeleteHe's may eyeing ur business sef and don't be surprised if he goes into that same business in ur exact same location..
Give him back all his capital and profit made and stay away from him
English with tears
DeleteCry on
DeleteThe term destiny helper is so overused that ppl forget to scrutinize and be cautious. Everybody that comes with a sweet tongue cannot be a destiny helper.
DeletePls return capital and interest agreed less the money he owes you . Include detailed narration of how you arrived at each figure. Dont let him blackmail or hoodwink you. Stand your ground and learn the lesson this situation had to teach you.
ReplyDelete25% is too small in this economy? Is he a clown? Abeg, return his money and interest jare. And deduct the one he owes you o.
ReplyDeleteFor your peace of mind, return his money and stay far from him.
ReplyDeleteNext time, leave sentiment aside and involve a lawyer for some signing and Ts &Cs
Send him his money, minus what he is owing you, plus his 50%profit.
ReplyDeleteTake your own 50%profit biko
So many things are wrong..
ReplyDelete1) Which bank in Nigeria would give you raw CASH in the last six months or Soo that would run into hundred of thousands?
So if the banks didn't give it to him;where did he get it from?
An advice from me to you,use your sense before others use it for you.
If he gave you the money cash;return it in cash too,no bank transaction,evidence don dey..
Next time if you need an investor,draft an agreement with a lawyer to be signed by all parties,so long as both parties are okay with the business terms.
Don't use "word of mouth" if you need your business to grow,or be respected.
Also any future transaction via investment MUST go through the bank,NO cash,only transfers(even if he brings in cash,politely tell him or anyone to pay into your account themselves).
Finally for the just concluded business,tell him to come collect it cash,give him what you agreed on;no plus,and no minus,STAND on business because profit and loss aren't made with emotions.
Hope this helps.
@MARTINS
Depends on the state
DeleteBanks in my state where giving cash just fine
Martins if she returns the money in cash, with the way he is acting funny, what if he denies that she didnt pay him back his money? What if he has told some family n frnds that he has money wt this woman? What if smthn happens to him tomorrow and his ppl show up at her doorstep telling her that she owes him money? What proof does she have that she has cleared her debts? Pls she shud make a transfer and keep the evidence wt her.
DeleteThanks Martins...Poster how can you even agree with a 50/50 profit sharing...I don't even do business but I know I won't agree to that...Please always do your due diligence and get someone knowledgeable to draft an agreement...He saw your desperation and capitalized on it..
DeleteThanks Martins...Poster how can you even agree with a 50/50 profit sharing...I don't even do business but I know I won't agree to that...Please always do your due diligence and get someone knowledgeable to draft an agreement...He saw your desperation and capitalized on it..
DeletePhoenix 50/50 is very generous actually
Delete16:56 I agree with you, but to avoid all that, she should make sure that some persons with integrity are around when she's handing over the cash to him, with that he can't deny it.
DeleteI'm not getting it. You accepted 50/50 share of profit, and now you're giving him 25% share of profit? It's wrong na! Agreement is Agreement, stick to it even if it didn't favour you. Next time, insist on a more favourable deal for yourself.
ReplyDeleteDon't mind the barawo. Everyone here can't see the poster is a greedy person . Your reneged on your agreement and coming to seek which advice? That's how most of you lose your destiny helpers he could've invested more in you but ojukokoro has made you loose . Danburoba
DeleteShe made 50% on the money she got
DeleteThey’ll split in two and he’ll get 50% of that 50% gain so 25%
Non of your expectations and agreement was communicated in details or I writing. I know he had good intentions but didn’t understand your books. Have a formal meeting with him and open your books for that period for him to see and understand. At least you have learned. Going forward, you will handle your investors better.
ReplyDeleteSo you open your eye see this thing as good intentions? Nawao
DeleteThe guy is a smart investor, however he thought he will be getting a huge profit. Some people don't know how business thrive, they only have an outside view.
ReplyDeleteYou didn't mention how huge the cash amount is, but you need to be careful receiving cash as people are into laundering cash these days.
Please, for your sanity sake, transfer the money inclusive of his profit and make sure you deduct the amount he is owing you, if you want to sustain the business.
You didn't stick to the agreement. Try and make him see reasons. Pay him pay his capital,his so called 25% and deduct the money,he's owing you. I pray it ends well for both of you.
ReplyDeleteHow didn’t she stick to agreement? Did u read the chronicle at all?
DeleteNext time get a Lawyer involved and get things properly done.
ReplyDeleteAvoid doing things like this next time. It's better you borrow from organization or government than from individuals to avoid breach of contract plus some people cannot be trusted
Pls in this 2024. No one should be doing business with anyone. Even your family. Without proper documentation and signature of both parties
ReplyDeleteIt can really go south and lives may even be lost
This is so scary to me. As I’m typing I’m afraid for you the poster. You don’t know the extent people can go to recover their money
Pls give him what is due to him. Count your losses and mooooveeeee. Don’t look back. And don’t do this nonsense again
Zendaya
She has no losses pls
DeleteYall are too suspicious and hard to help
Poster don't pay cash,do transfer and have receipt and please give him the 50%and face your business,next time don't involve in such business again,the world is filled with wicked people.
ReplyDeleteI feel you shouldn't have done business with him in the first place
ReplyDeleteWhy?
DeleteThe guy hasn’t done anything wrong to her
Even told her to keep the profit and just return the money
Do not send cash with no evidence. Make it a bank transfer that will show up on both statements.
ReplyDeleteTransfer his capital and profit to him, remember to indicate under narration what it is for, so that in futureif he gives you problems, you have evidence. Henceforth distance yourself from him, he's a shrud business man.
ReplyDeleteNo send his talk o what was he excepting B4 was that not the agreement? If the yield was more he would have gotten higher pay. This is business u can't lose your own gain to please another person make him go sit down
ReplyDeleteYou are nothing but a thief. The agreement was 50 percent return on investment. Why didn't you think it thoroughly before agreeing to it? . Before collecting the money, you could have done your due diligence but you didn't. Now when it is time to return the money and profit, you are using funny character to cheat.
ReplyDeleteBe careful. What you sow, that you shall reap. Return his money and profit.
I am sure your business wouldn't have yielded such profit without his investment.
KING XOXO MYSTERY
Na greed dey worry you so, how can you just collect money from someone like that? You want to enter into problems
ReplyDeleteThe Most Complex B
How did this cash enter the matter. There us no mention of cash anywhere in this chronicle.
ReplyDeleteHmmm, you accepting the money initially was where the mistake started although the deed has been done na the solution you need nah? first of all,make sure you collect the money he is owing you first oo then return the money with the agreed profits if he refuse, go to your shop and mind your business and don't try such again if you want loan go to a well known financial institution abeg not individual.
ReplyDelete