Ini Edo Finally Talks About The Complete Failure Of Her Bar, Lounge Business

Nollywood actress Ini Edo has been acting, making money, saving and investing for a very long time now.

Outside of acting, she has made a lot of business moves, and one of such moves that Ini Edo made was to go head first into a full-on hotel, restaurant, bar, lounge business called Mimz Bar & Lounge.

It was situated in the heart of Lekki, and that business was a colossal failure.

Speaking about it during a new interview with Cool FM, Ini Edo got honest about why the business failed, as well as if she makes money from movies, if ladies earn more than men in Nollywood, and more. Here is what Ini Edo had to say.

Ini Edo on Cool FM
“Do movies actually make money? Do you actually make money from movies, be honest?”

INI EDO: To be honest, I mean if you think back a few years, like 10, 15 years ago, when I was shooting movies like back to back, I could do like two, three films in a week. Considering average income earners in Nigeria, if you earn like 2 million naira per film or 1.5 million per film, I’m talking about like 15 years ago, and then you’re consistent on it and you’re doing it. I mean that’s all I was doing for years. And of course you’re able to save money. And saving money means for me, cuz I’m using myself as an example. What that meant for me was that I started doing investment really quick. I started buying real estate, buying properties, and just literally saving and investing just understanding where I was coming from and the fact that look, I didn’t know what my future would hold for me so I just buried myself in the work and I was doing a lot of saving and investing.

Then along the line, I decided to diversify into other things. Started some businesses, some would fail, some would succeed. I had this huge drive to be an entrepreneur and to just be independent off movies. When they say do movies make money? It’s relative. How consistent are you? Where are you making the films? What are you doing with the money that you’re making? I can’t equate it to the lifestyle but I can speak for myself.

“Do you think the ladies have it better than the men?”

INI EDO: I don’t think so. Some people just come from a background that allows them know what to do with money. I mean, I come from a certain place so I understand that you can have today and not have tomorrow so what you do with what you have at the moment is what sustains you in the long run. I will speak for myself because I don’t know anybody’s bank account. I started investing in real estate as early as 2003. As at when I moved to Lagos in 2003, I was buying properties in places that I didn’t even know where they were. Most of those properties today are valued at like quadruplet the price.

“What are the businesses you tried that never worked?”

Oh my gosh. The fact that I’m still sitting here is a miracle. I’ve always loved food business, hospitality business, and I will still do it. God knows I will still do it. So I went head on with no experience with no capable hands into this full lifestyle, hotel, lounge, restaurant business in the heart of Lekki and I sort of just delved into it, and it was a colossal failure. I just lost everything. It’s not like that business doesn’t sell, it’s just that I didn’t have enough experience for it, and I didn’t have the right hands to deal with it or handle it for me. What that taught me was just a lot of lessons, and I’m still going to do it again.

Source: jide okonjo

Email: elora.akpotosevbe@yahoo.com