Get Guardian on GoogleFor Funto Ibuoye, clocking 10 years in business is an opportunity not only to wine and dine, but also to expand and project for the future.
Started in 2016 with just two clients after she posted about starting an interior decoration business, Five28 has gone through several phases, building itself into a household name.
Over the past decade, Ibuoye expanded Five28 from a single interior design company into developing the Five28 Academy, where she trains students in interior design.
The name Five28 was coined from the exact time Funto Ibuoye gave birth to her first son.
To celebrate, Ibuoye invited selected guests to an exclusive evening in Ikoyi, Lagos, celebrating a decade of grace, remarkable people, exceptional design, and a bold vision for the future of African luxury living.
She described the celebration as revelling in God’s goodness over the past 10 years of Five28’s existence.
“It’s been a lot over the last decade. There were so many challenges in the last 10 years. There were times I thought of shutting down, but God’s grace and having the right people, the right mentors, and the right mindset helped me overcome those challenges.
“Through the years, it has been diligence and staying power. Regardless of the storms and challenges, having the grit to stay, push through, and continue moving forward is what has kept us going so far.
She added: “So many businesses start and don’t last up to five years. I know someone with whom I started a business at the same time, but she posted two years ago that she was shutting down, and that really got to me. I know it’s not by power or might, but by the grace of God. I am thanking God for the past 10 years and looking forward to the next 10 years.”
When asked about her future plans, she said: “One major thing to look forward to over the next 10 years is Five28 Properties, and we are also stepping into the Middle East; we just got our license to do business in Dubai.”
On how Five28 has shaped the interior design sector in Nigeria, she said: “One of the ways I’ve shaped the industry is by training and raising those coming behind me. I believe in education, training, and pouring into the next generation to prepare them for the future.”
Also speaking at the event, beauty entrepreneur Tara Fela-Durotoye, who was honored with the Icon Award, said: “I’m happy that I inspired her when she became a makeup artist. Evolution has taken place, and she moved on to found Five28, but at the end of it all, it’s still rooted in creativity. I am excited about her journey and grateful for the honor.”
In her advice to business owners, Fela-Durotoye said: “I always tell entrepreneurs to build beyond themselves. Building beyond yourself means building leaders—building people to whom you can give responsibility and exposure. You also have to build a life outside of the career or business you are creating. Business owners should prepare for their transition before it happens, and to do so, you have to shift from being founder-led to institution-led.”
