In recent weeks, the demolition of properties and businesses along the Lagos coastline has stirred significant public debate. This development is in preparation for the Federal Government’s ambitious 700 km Lagos-Calabar Coastal Highway project. Among the notable casualties is the Good Village, along with the adjacent Good Beach. The widespread demolitions have sparked a nationwide debate about the future of the valuable businesses that once thrived in these areas. This article aims to shed light on the Good Thing Company, what happened, and its next steps after the demolition of its flagship space.
The Good Thing Co, the parent company of The Good Village and one of the investors in the Good Beach, is a creator-centric company that offers buyers access to exceptional products selected from the best creators. The Good Village located in the Good Beach at Oniru Lagos was its first creators market, an innovative, and eco-friendly container-styled market offering customers an immersive and curated lifestyle experience. It was a place where people could enjoy delicious food, buy unique products, and make unforgettable memories.
The Good Village housed 21 creators who were selected to provide exceptional products (in food, fashion, and lifestyle) to daily visitors of the Good Beach. In an effort to support these creators to provide the best products and services at lower costs, The Good Thing Co provided each creator with a store, constant power, human capital, and technology tools at no cost. By partnering with these creators—individuals who produce unique products and services that elevate everyday life— a community of shared prosperity was innovated. The landowner, the finance provider, The Good Village, and the young sellers all earned only when a Creator sold.
“As we engaged with the Creators, it was evident the problem we had to solve for them was access to the market, high operational costs, with rent & power being the highest, and business resources required at different stages of growth. By solving these problems, creators can focus on producing high-quality goods and experiences without worrying about the next time rent or power bill is due” Yomi Adedeji the CEO of The Good Thing Company shared
In just 24 months, Good delivered over 3 billion Naira to these 21 creators, connected them with over 500,000 customers, hosted 56 events to showcase their brands, and employed over 60 young people to sell for them. Unfortunately, this journey was abruptly cut short by the demolition. Despite this setback, the impact made by The Good Thing Co. is a foundation for its future.
“The flagship market in The Good beach was very impactful not just because of the Creators and everyone who earned from their progress but the sheer number of talents who maximized this market opportunity. I recall meeting Diamond King (the_luxury_magician) on one of those weekends at the Good beach and he shared his story. He is a 200L student at Achievers University who earns about 200,000 Naira every weekend he comes to delight customers with his magical skills at the Good beach.
“For the consumer, We wanted to solve the problem of finding good things, making a good choice, and getting a good bargain. That is what we did with the Good Village. Yomi Adedeji, the CEO of The Good Thing Co., further shared.
“Talent truly exists in everyone, and it becomes clear when they meet an opportunity.” Seindemi Olobayo, COO of The Good Thing Company, affirms
There are so many stories to tell about tremendous growth; Aunties, Foot City, Golden Pharaoh, and Topsis just to name a few. We’ve built an ecosystem of shared prosperity for our creators while giving our customers access to good choices and young people an opportunity to earn more when they sell for Creators.
Take, for example, Olamide Odunaiya, the owner of Chumby Bumpy’s Kitchen and the creator of the special Chumby’s Native Rice, a native rice mix that can be prepared in 15 minutes. She went from selling 4 million Naira yearly to selling 259 million Naira in her first year at Good Village. Another exceptional story is that of Florence Bebe, the owner of Aunties, a small chops and finger food business. She initially ran her business from home, selling roughly 200,000 Naira monthly. Today, Aunties averages 10-12 million Naira monthly. Similarly, Tope Eyitayo of Topsis Burger Lab achieved over 200% increase in monthly revenue, earning over 100 million Naira at the Good Village. These are stories of real people and their businesses, validating that if creators who go out of their way to make good products and services are given the right opportunities and resources, they can build highly successful businesses.
Another remarkable story was Emmanuel who came to the Good Village to look for a job as a sales supervisor. He found a gap to delight customers with Coconut & Pineapple and started his business called Odis Fresh. He earned his annual salary in the first four months and crossed the 100m a year in revenue in his first year in business. This is only the beginning of Good.
Despite the impending challenge of the demolition of the Good Village, The Good Thing Company intends to accelerate its vision to connect people with the world’s best creators and their exceptional products and experiences.
“The Good Thing Company is an output of our continuous obsession over inclusion and growth for dreamers & doers at Softcom. We spent considerable time working on financial connectedness and growth with Eyowo, so Good was a side effect of that effort” said Seindemi Olobayo, COO of The Good Thing Company.
Good Online will be launched in the coming weeks, and we’re so excited to share all the work we’ve put into creating this platform for you. If you are an exceptional creator and a connoisseur of the good life, visit https://goodthing.online to join and be the first to know when we launch.