This is a good lesson on how not to venture into a business you know next to nothing about:
Since Don Jazzy put his money into night club business things have not been the same for him. In fact it has really affected him even in his popular trade, music production, that he hardly produces a great beat these days. We @ hotgist4u.com gathered that he has finally shut down his PoP night club…
His decision to invest in a nightclub business made him approach former Super Eagles captain, Jayjay Okocha for a lease of his building housing the old Club 10 in Saka Tinubu Street, Victoria Island, Lagos.
Six months after top music producer and entrepreneur, Don Jazzy, opened his hangout, Club PoP, the club has now been shut down.
It was learnt that during the review of the last six months operation of the club, the music producer discovered that the huge bills owed by some of his friends are too outrageous and the debts were really affecting his investment. He was said to have been really angry, but didn’t want to embarrass any of the debtors. Thus opted to stop operation of the club, and continue with the restaurant on the ground floor of the hangout.
His reason is that people were trying to wreck him, rather than support the business to grow. Most of those who frequent Don Jazzy’s club take expensive drinks without paying while others, especially ladies, simply go to the club to take pictures with Don Jazzy with a view to show same to their boyfriends.
A source close to Don Jazzy revealed that he has decided to stop operation at the discotheque section of the watering hole due to huge funds he has sunk into it and the abysmal low return-on-investement.
“The club is becoming a drainpipe with some VIP patrons not behaving responsibly by abusing the credit facilities afforded them by the club management,” said the source.
Don Jazzy has so far sunk over N50 million into Club PoP. Apart from the money he is making as a music entrepreneur, Don Jazzy recently made some extra bucks signing endorsement deals with big brands like Samsung and Loya Milk.
A report from an insider said, “he is angry with so many people whose names are on the list of debtors in his club but have decided to shut the place down in order not to pick a fight with anyone”.
Heeeeeey yaaaa! Don Baba J no let them run you down…anyway very thoughtful of u..