Riding to retail: How Solomon Godson built a thriving shoe business
From the bustling streets as an okada rider to becoming a thriving footwear retailer, Mr. Ahamefula Solomon Godson’s journey is one of grit, resilience, and determination. Today, he channels that same drive into providing customers with durable, stylish, and affordable shoes. In this exclusive interview with Blueprint, he opens up about the challenges, breakthroughs, and lessons that shaped his inspiring success story.
Excerpts:
What kind of business are you into?
I run a small shoe retail business. I don’t manufacture the shoes myself; instead, I buy them in bulk from suppliers and then resell them to customers. My focus is on selecting quality products that people like and making them available at affordable prices.
Why did you choose this line of business and not other businesses?
I chose the shoe business because growing up, I often noticed people wearing poor-quality shoes that wore out quickly. It really touched me, and I wanted to be a part of the solution by providing people with durable, stylish, and affordable footwear. That personal experience inspired me to be focused on this line of business rather than others.
How profitable is this business?
Yes, the business is profitable. The more I grow my customer base, the more the profit increases.
How did you raise money/capital to start this business?
I started by riding okada, and from there, I was able to save enough money to raise capital for the business.
How has banking with Jaiz Bank helped you grow your business?
Banking with Jaiz Bank has really helped my business. The loan I received gave me the support I needed to grow and serve more customers.
How would you describe/rate your transactions while using Jaiz Bank Mobile App?
I don’t use the mobile app; I do most of my transactions directly at the bank.
What are the challenges encountered in your business?
One major challenge is the exchange rate, which makes shoes more expensive. Also, people don’t buy like before because many are complaining about a lack of money.
What strategies are you putting in place to surmount the challenges?
Sometimes, I reduce my profit or even sell at little or no gain just to satisfy my customers and keep them loyal.
What do you think Jaiz Bank should do to help smallholder businesses grow and, by extension, alleviate poverty in Nigeria?
I think Jaiz Bank should review the “no C of O, no loan policy” because most small business owners don’t have a C of O. I understand the rule was introduced because some people don’t pay back, but Jaiz Bank is like a father and we, the customers, are like the children. If 2 or 3 children misbehave, the father doesn’t stop supporting the good ones. Instead, the Bank could introduce a policy like requiring two guarantors with stable jobs or strong businesses. That way, small businesses can still access loans, grow, and help reduce poverty.
What would be your advice to young entrepreneurs who are willing to start a business?
My advice is to start small, be consistent, and don’t give up easily. With patience and discipline, the business will grow.
Source: Jaiz Bank
