I started my business with no money and no structure – Onyeka Goodness

ONYEKA GOODNESS Ifendu is the founder and chief executive officer of Exclusive Courts, a real estate development company which specialises in building and construction. He is also the managing director of Ifetech Auto Sales, an automobile sale and replacement part procurement company. Having been in business for over 25 years, he has been able to strengthen his footprints on the Nigeria entrepreneurship ecosystem. In this interview with ODINAKA ANUDU, he explains how he started and the mileage his firm has gained over time.

Tell us a little about your academic background I finished my secondary education in Nigeria and attended some courses at the University of British, Columbia.

What’s your professional background?

I have been in business for the past 25 years. I learned auto wrecking in Nigeria before relocating to Canada. I discovered that many Nigerians do not have an operating standard for real estate. We can’t compete with our international counterparts. I wanted to create something acceptable worldwide.

Why do you think Nigerians in Canada and other parts of the world should invest in real estate?

They should because ‘charity begins at home’. I know that Africa is the best place to be. I have travelled to about 56 countries but there’s nowhere like home.

How did you start your business?

I started with nothing, I was just offering services to people. But today, we are building our own estate at Ikota Villa Estate Lagos. We also partner with major auto repair centres all over Nigeria.

What’s the biggest risk you’ve ever taken?

I have taken a lot of risks, but going into real estate was a major one. I started without any direction, but I found out that people are on the lookout for quality. I capitalised on that, and it has created avenues to build valuable relationships, which will later be useful in the next 20-25 years.

What sets you apart from other real estate companies?

Quality is my major priority. We do not just want to provide services; we want to deliver the best. Transparency, honesty and trust are our unique selling points. We want to be around for a long time, so we are building a trustworthy brand.

What should be the major concerns of Nigerians in Diaspora thinking of investing in real estate?

I have met a lot of Nigerians abroad. Quality is one of the key factors they are concerned about. I discovered that they are afraid of our people back home because of bad reports. We are building a trusted brand for Nigerians at home and in the diaspora.

What were the challenges you faced while starting and how did you handle them?

Starting up was bad. There was no structure. With time, we put in well-defined structures in the businesses. I have built over 10 businesses, with Exclusive Business Group Nigeria as the mother organisation. Our building and construction arm has provided services for state governments, corporate institutions and individuals at different levels. What’s the next big move for your company?

Major projects are coming up soon. One of them is undergoing construction at VGC at the moment.

How many employees do you have?

Currently, we have 87 employees in our real estate business and 46 in our automobile business.

What innovations are you bringing into the Nigerian real estate and automobile sphere? We are detailed and particular about first-class finishing. For our automobile company, I discovered that people don’t think about mileages. We want to ensure people are aware of what they are about to buy. So providing information and quality is very important to us.

What is the future of the real estate industry in Nigeria? Real estate transactions are going beyond just buying and selling of properties. People are more interested in development and innovation. In the next five to ten years, those who are not offering value will be out of the market. That is why we are doing our best to offer nothing short of excellence.