The Business Day Starts Before I Leave Home. I consider my business day to have started before I physically reach my shop. By about 6:30 a.m., I check my phone for messages that came in overnight.
WhatsApp has become an important part of my business because my customers do not always want to travel to the shop just to find out whether a product is available. Some customers send pictures of the exact charger, cable or accessory they are looking for. Others ask for the price of a particular product or want to know whether I have something compatible with their phone.
One morning, I received nine WhatsApp enquiries before leaving home. Three of those people eventually came to the shop, while the others either postponed the purchase or stopped responding.
I have learned to treat an enquiry differently from a completed sale. Someone asking for the price of a product is not necessarily ready to buy immediately. However, I still respond to enquiries because customers sometimes return later when they are ready to purchase.
I also use this early period to check my stock records and identify products that need attention. When several customers ask about the same cable over a few days, I take that into account when deciding what to restock.
Getting to the Shop in Mainland Lagos
I leave home shortly after 7:00 a.m. because I want to arrive before the shop becomes busy. Moving around Lagos can take considerably longer once traffic builds up, and I have experienced journeys being affected by road construction, accidents and unexpected obstructions.
Transportation is therefore one of the expenses I include in my business records.
I spent approximately ₦1,800 on transportation for the day. That covered my trip to the shop and my journey home.
₦1,800 may look relatively small when considered as a single daily expense. Over 26 working days, however, it becomes ₦46,800.
That recurring cost is significant enough for me to track because transportation directly affects the money I retain from the business.
Opening the Shop and Preparing for Customers
I arrived at approximately 8:15 a.m. and began preparing the shop.
I arranged the products so that chargers, cables, earphones and screen protectors were visible and easy for customers to examine.
I kept more expensive products in positions where I could monitor them properly, particularly when several customers were inside the shop.
I also checked my phone and POS terminal before the day's sales became busy. Payment problems can create complications when a customer receives a debit notification but I have not received confirmation that the transaction was successful.
I checked the electricity situation as well.
When public electricity was available, I used it to charge devices and test products. When there was no electricity, I switched to my backup power arrangement.
For my electronics accessories shop, electricity affects more than lighting. I use power when testing products, charging devices and maintaining the equipment I need to operate the shop.
The First Customers of the Day
The first customer arrived at approximately 8:45 a.m. and bought a USB cable.
The cable cost me ₦3,200 and I sold it for ₦5,000. The gross profit on the transaction was therefore ₦1,800 before other business expenses.
Another customer bought a phone charger for ₦8,500, while a third customer purchased an earphone for ₦7,000.
By around 10:30 a.m., my total sales had reached ₦31,500.
I did not treat the ₦31,500 as profit. The products sold for that amount had cost me ₦21,000.
My gross profit was therefore:
₦31,500 - ₦21,000 = ₦10,500
I still had to account for transportation, electricity, communication, packaging and other operating expenses.
This is why I separate revenue from profit when reviewing my business.
Watching What Customers Actually Want
Spending an entire day in my shop allows me to observe what customers are actually buying rather than relying entirely on my expectations.
On one particular day, I expected power banks to perform strongly because several customers had asked about them online. Instead, ordinary charging cables and screen protectors sold faster.
Screen protectors performed particularly well. By midday, I had sold 11 units.
The profit on each screen protector was relatively small, but the number of units sold made the product important to my daily sales.
This affects how I manage my stock.
A product does not have to be the most expensive item in my shop to contribute significantly to my business. Products that sell regularly can return cash to the business faster than expensive products that remain on the shelf for weeks.
Negotiation Is Part of Selling in Lagos
By late morning, price negotiations became more frequent.
One customer saw a power bank marked at ₦28,000 and offered ₦22,000. I declined because that price would have left too little margin.
The customer increased the offer to ₦24,000, but I still declined.
Eventually, we agreed on ₦26,000.
The sale remained profitable, but the margin was lower than it would have been at the original price.
A product that costs me ₦20,000 and sells for ₦25,000 produces ₦5,000 in gross profit. Selling that same product for ₦22,000 reduces the gross profit to ₦2,000.
The difference is ₦3,000 on one transaction.
If I give up the same ₦3,000 margin across 30 similar sales, the reduction in gross profit becomes ₦90,000.
I still use discounts when they make commercial sense. A discount can help me clear old stock, attract a new customer or encourage a customer to buy more. I make those decisions by looking at the effect on my margin rather than focusing only on completing the sale.
Lunch Is Not Always at Noon
By around 1:30 p.m., I realised that I had barely taken a proper break.
Because I handle sales, customer service, payments and stock management in the shop, taking a break requires me to plan around customer traffic.
When several customers are inside the shop, leaving can mean missing sales. When nobody is available to cover the shop, even a short lunch break becomes difficult.
I spent ₦2,500 on lunch.
I record expenses like this separately from the cost of purchasing products because they affect the amount of cash I need during a working day.
An Afternoon Power Problem
Around 2:20 p.m., public electricity went off.
I switched to my backup power source so that I could continue operating.
My generator and fuel cost for the day was approximately ₦3,200.
I treat that as a daily operating cost. The generator itself also has maintenance requirements, including servicing, engine oil and repairs.
I bought the generator for ₦450,000, and I expect it to provide approximately three years of useful service.
Using a simple straight-line calculation:
₦450,000 ÷ 36 months = ₦12,500 per month
The ₦12,500 is not an amount I physically pay every month for the generator. I use the calculation to recognise the equipment cost over its useful period when assessing the longer-term cost of operating the shop.
When the POS Transaction Fails
Later in the afternoon, a customer wanted to pay by POS.
The first transaction failed.
We tried again.
It failed a second time.
The customer received a debit notification, but I had not received confirmation on my side.
The situation created uncertainty because the customer wanted to know whether the money had actually left the account, while I could not release the product without confirming payment.
The customer eventually completed the purchase through a bank transfer.
I have found it useful to maintain more than one payment option because POS, banking and telecommunications services can experience technical problems. Cash, POS and bank transfer give my customers alternatives when one payment method does not work.
The Late Afternoon Rush
Between approximately 4:30 p.m. and 6:30 p.m., customer traffic increased.
People returning from work stopped to purchase accessories. Some customers already knew what they wanted, while others compared several products before deciding.
One customer bought a ₦6,000 cable.
Another purchased a ₦12,000 charger.
Two customers bought screen protectors.
Another customer purchased a phone holder for ₦9,000.
By 6:30 p.m., my total sales for the day had reached ₦137,800.
The ₦137,800 was my sales revenue, not my profit.
What Did the Shop Actually Make?
The products I sold during the day had cost me ₦92,600.
My gross profit was therefore:
₦137,800 - ₦92,600 = ₦45,200
I then accounted for the operating expenses associated with the day.
| Expense | Amount |
|---|---|
| Transportation | ₦1,800 |
| Generator and fuel allocation | ₦3,200 |
| Mobile data and communication allocation | ₦700 |
| Packaging materials | ₦1,100 |
| Miscellaneous shop expenses | ₦900 |
| Total daily operating expenses | ₦7,700 |
After those expenses, my simplified operating contribution was:
₦45,200 - ₦7,700 = ₦37,500
I do not treat ₦37,500 as the amount I can simply withdraw from the business.
My business also has monthly costs that cannot be assigned entirely to one day's sales. Rent, equipment replacement, repairs, taxes, salaries and other overheads have to be considered when I review the complete financial position of the shop.
This is why I do not judge profitability simply by looking at how much money enters the business.
What a Month Could Look Like
I operate the shop for 26 days and average ₦120,000 in daily sales.
My monthly revenue is:
₦120,000 × 26 = ₦3,120,000
My average cost of goods sold represents approximately 67 percent of revenue.
The cost of goods sold is:
₦3,120,000 × 67% = ₦2,090,400
My gross profit is therefore:
₦3,120,000 - ₦2,090,400 = ₦1,029,600
I then account for my monthly operating expenses.
| Monthly Expense | Amount |
|---|---|
| Shop rent allocation | ₦180,000 |
| Electricity and generator | ₦145,000 |
| Transportation | ₦46,800 |
| Data and communication | ₦22,000 |
| Packaging | ₦28,000 |
| Repairs and maintenance | ₦35,000 |
| Miscellaneous expenses | ₦25,000 |
| Total operating expenses | ₦481,800 |
My simplified operating profit is therefore approximately:
₦1,029,600 - ₦481,800 = ₦547,800
I still do not treat ₦547,800 as money that I can freely withdraw and spend.
I have to account for taxes, additional expenses, stock replacement, unexpected repairs and the working capital required to keep the shop adequately stocked.
The calculation gives me a clearer distinction between revenue, gross profit and operating profit.
Why Daily Records Matter
At the end of each day, I record how much I sold, which products moved, how much I spent and whether my stock records match the physical stock in the shop.
I use these records to identify patterns in my business.
When chargers begin selling faster than usual, I can see it in my records.
When power banks remain on the shelf for several weeks, I can identify the problem.
When generator expenses increase, I can track the change.
When customers repeatedly ask for a product that I do not stock, I can record that demand when reviewing my next purchases.
These records influence how I manage my stock and cash.
Without records, I would have to rely heavily on memory. I prefer having actual figures that I can review at the end of the day and compare from one period to another.
A simple spreadsheet gives me a practical way to record daily sales and expenses without requiring a complicated accounting system.
The Difference Between Being Busy and Being Profitable
My shop can be busy without generating the level of profit I expect.
When customers are constantly entering the shop but the products are being sold with very small margins, my daily sales can look impressive while my remaining profit stays low.
I also have days when customer traffic is lower but the products sold provide healthier margins.
This is why I pay attention to more than the number of customers who enter the shop.
I track my sales, product costs, margins and operating expenses because those figures tell me more about the financial performance of the business.
Customer traffic is useful, but the money left after the cost of goods and operating expenses is more important to my bottom line.
Closing the Shop
By around 7:00 p.m., customer traffic began to slow down.
Before leaving, I reconciled the day's transactions.
I counted my cash separately.
I checked my POS transactions.
I reviewed bank transfers.
I recorded any unresolved payment so that I could investigate it later.
I also checked some of my important stock items and made sure the products were properly secured.
The closing process took approximately 20 to 30 minutes.
I consider this process important because a small discrepancy that I ignore today can become difficult to explain several weeks later.
After securing the shop, I closed for the day and started my journey home.
Even after leaving the shop, I still received WhatsApp messages from customers asking about prices and product availability for the following day.
What This Kind of Day Has Taught Me About Retail
Running my electronics accessories shop has shown me that daily sales alone do not tell me whether the business is performing well.
A product can sell quickly while producing a small margin. Another product can sell slowly while producing considerably more profit per unit.
Power costs affect my operating expenses.
Transportation affects my daily cash requirements.
Payment problems can interrupt transactions.
Slow-moving stock ties up money that I could otherwise use to purchase products that sell faster.
Small recurring expenses can also become significant when accumulated over an entire month.
Because of this, I look beyond my daily sales figure.
The question I ask is not simply, "How much did I sell today?"
I also ask, "How much did the business retain after paying the costs required to generate those sales?"
What I Would Pay More Attention to as the Business Grows
As my shop grows, I pay particular attention to four areas: gross margin, stock turnover, operating expenses and cash flow.
Gross margin tells me how much remains after the purchase cost of the products I sell.
Stock turnover tells me how quickly my money invested in products is converted back into cash through sales.
Operating expenses show me what it costs to keep the shop functioning.
Cash flow tells me whether I have enough money available when bills, suppliers and other business obligations need to be paid.
These measurements work together.
I can have a profitable business on paper and still experience cash-flow pressure if too much of my money is tied up in stock.
For example, having ₦1 million worth of products sitting in the shop while suppliers are demanding payment can leave me with limited cash even though the stock has monetary value.
Those products may eventually sell, but the timing of the sales matters.
This is why I pay close attention to stock levels, product movement and the amount of cash available for the next round of purchases.
Final Thoughts
A typical day running my electronics accessories shop in Mainland Lagos involves much more than standing behind a counter and waiting for customers.
My day starts with WhatsApp enquiries before I leave home. I deal with the Lagos commute, arrange stock, attend to customers, negotiate prices, process payments, manage electricity costs and reconcile my records before closing.
The numbers show why I do not confuse revenue with profit.
When my shop records ₦3 million in monthly sales, that does not mean I have ₦3 million in profit. I have to account for the cost of purchasing the products, operating the shop, transportation, electricity, equipment maintenance, stock replacement and other expenses before determining what the business actually retains.
Keeping proper records makes these figures easier for me to understand.
I do not need expensive accounting software to start. A notebook, spreadsheet or simple bookkeeping application can provide a practical starting point for recording daily sales and expenses.
For me, the important part is maintaining the records consistently and using the information to make better purchasing, pricing and spending decisions.