Profitable Small Businesses In Nigeria and Profitable Investment Opportunities to Start
Are you looking for lucrative and profitable business ideas in Nigeria ideas? If YES, here are some top notch and comfortable business ideas and investment opportunities you can capitalize on and make massive profits in just a very little period of its establishment. Do you need a sample business proposal for a viable small scale business in this economic recession?
Starting a lucrative small business in Nigeria with small capital and growing it into success requires lots of dedication, determination and careful planning. In my previous posts, I have highlighted how to start a profitable small business in Nigeria.
If you research into the start-up stories of many big companies today, you would discover that many of them started from the scratch faced with several challenges.
As an entrepreneur who is on the Mission to venture into a business or better still, want to extend his wing and enlarge his business coast, here are a few outdoor and home business ideas in Nigeria that doesn’t required you much analysis on the legal requirements, or the market feasibility and all other vital things it takes to kick start a business in your locality.
Although, entrepreneurs couldn’t help but complain about the heavy taxes and other levies they are subjected to pay, but yet, it is on the contrary better than running a business in other part of the world. The gap is very wide.So what are the best businesses to do in Nigeria today?
DON’T MISS THIS: Top Ten Most Lucrative Business Ideas In Nigeria
Everyday, many Nigerians search for small investment opportunities to start with no money. They keep looking for lucrative business in Nigeria with small capital. Do you have little money but no feasible business idea to start with? The truth is there are many business opportunities available for investment.
Whether you are planning to start up a Nigerian business ideas already adapted to this economic climate or looking for franchises to buy, in this post, I will be revealing the most profitable small business and lucrative investment ideas. Dedication, putting in extra efforts and partnering with the right set of people are some key secret of successful business that moves fast in Nigeria. Do you know there are good business ideas for students in Nigeria for secondary and university levels?
Here are however some lucrative and profitable business ideas in Nigeria you can consider;
This is an interesting business idea, this business had for a long time always been on the go. This implies that restaurant business in Nigeria doesn’t run out of fashion. If you are a great cook and wouldn’t mind to start a business, why don’t you start a restaurant business this once.
Mind you, you will need to carry out some necessary steps before you can actually start the business.
Steps like looking for a commercial location that will aid people to easily patronize your business, registering and doing some paperwork to obtain license from NAFDAC so that you wouldn’t be disturbed by the government or its agency.
2. Raw Food Stuff Store
Raw food stuff store is a profitable business that can cash in good returns on your investment. Food stuff like rice, beans, wheat, semolina, garri and host of others are what is expected to be sold inside the store.
Obviously, unlike Nigeria foreign counterparts, more than average Nigerians love and prefer to eat homemade foods to the fast foods, hence, your chance to succeed in this business is very high.
This is another fascinating business opportunity in Nigeria. People around the globe enjoy eating baked things which Nigerians are no exception. Baking all sorts of flour foods for money is a safe business you can invest on in Nigeria and earn a lot of profit hitch-free.
Ensure you gather all the necessary information that requires you to have before venturing into the business. Meet with those that are making it in the bakery industry for other things you will be in need of along the line.
In case you don’t have the experience and what it means to bake, you can invest on the business and find someone to look after it, or better still, you can go to a school where bakery services are being offered.
This business had proved itself over short period of time to be a lucrative and profitable business. Companies needs to move their products from their store house to place where it is needed. You can seize this opportunity and be the problem solver to this by venturing into a haulage and logistics and/or transport business.
Before you kick start, it is ideal you determine whether the business will only be rendering an interstate service or just an ordinary intra-state shuttle service provider.
5. Farming/Agriculture Business
Apparently, the federal government of Nigeria is putting in her best to diversify into agriculture and as a result of this, farming and other agricultural related businesses cannot be over emphasized, today.
If you are the type that the idea of capitalizing on a commercial farming business really goes down very well with, then you could kick start any agriculture related business in Nigeria. Doing this business, your chance of earning a potential and steady income year round is very enormous.
Agricultural business like poultry rearing (of different species of birds), fish pond, cattle rearing, crops farming amongst other are business ideas that can be ventured into by anyone irrespective of the state or position.
Starting a poultry farm, fish pond, crop farming might appear very simple and easy to you but venturing into it as a business is something totally different. This implies that you are not only a fish or chicken farmer but also an entrepreneur on your own.
This is another fastest growing business idea in Nigeria. Quite a huge numbers of people have done pretty well in the business and still up to the moment doing very well in it. Not every Nigerian are too overwhelmed to do washing themselves and some are; but do not have the time. Therefore, you may like to look into this profitable dry cleaning business idea in Nigeria.
If you are an entrepreneur with limited funds, you can venture into this side business idea in Nigeria and make money for yourself. The possibility of making it is so broad because most car owners don’t have the time and energy to wash their car.
They just prefer visiting a car wash service center and get their car wash while they chill with drinks and watch TV.
What you need to start this business is just to get a good location for the business, good washing equipment, car wash detergent and manpower to make work faster so customers won’t be waiting for you.
8. Cosmetics Business
If you have passion for beauty, then starting a cosmetics business in Nigeria is one of your sure bet.
To do really well in cosmetic business, it’s advisable you engage in a thorough research. This is important because you will learn new things about the business (i.e. cosmetics industry) that will interest you and help your business.
9. Tailoring Business
If you are the type that have an eye for fashion, you can delve into tailoring business as it is one profitable fashion business in Nigeria. Have it in mind that you have to have the necessary skill and knowledge of the business before venturing into it.
The boutique industry is made up of retail stores- small, medium or big that sells limited range and variety of clothing and accessories. This business idea is profitable and reliable.
In spite of the hardship, high dollar to naira exchange rate and economy crunch that loom Nigeria, people are keeping it real and couldn’t just help but to look good. You can however capitalize on this and start a boutique business and earn massive money in few time.
LIST OF NEW SMALL BUSINESS OPPORTUNITIES TO START IN NIGERIA
Here are the most successful small businesses in Nigeria. These are new business ideas during recession and have been categorised into industries and sectors for easier access.
Best Profitable Small Scale Agriculture Business Ideas
Here are some of the best lucrative agricultural businesses
1. Fish farming business
2. Broiler and layers farming
3. Snail farming business
4. Starting a pig farm
4. Dog breeding and sales
5. Open a veterinary/pet shop
6. Livestock feed sales and milling business
7. Processing of maize, rice, palm oil, cassava, rubber, cotton etc
8. Cultivating vegetables
9. Starting a poultry farm
DISCOVER: List of Businesses In Nigeria That Require Very Little Or No Capital
General Lucrative Business Ideas
9. Haulage business
10. Starting a rental service business and
11. Okada and Keke Napep hired purchase
12. Event planning, cake baking and decoration business
13. Cement business
14. Ice block and frozen food business
15. Mortuary and ambulance service business
16. Setting up a tutorial centre and private coach classes
17. Providing catering services to schools
18. Daycare center and nanny services
19. Establishing self empowerment centres for corpers and graduates
20. Selling past exam questions and cbt softwares
21. Starting a private school or computer training institute
Computer And Technology-related Business
22. Make money from sales and repair of PC and its accessories
23. Mobile phone sales, repairs and charging business
24. Development of mobile and web applications
25. Graphic design and printing business
26. SIM card replacement and mobile money agents
27. Recharge card reselling business
28. Android games development
Profitable Small Production Business
29. Custard production
30. Paint making
31. Making Ankara accessories, beads and wireworks
32. Body cream and liquid soap production business
33. Producing Izal, Dettol and other disinfectancts
Internet-Based Business Ideas
Online businesses to make money online in Nigeria include:
35. Email and affiliate marketing
36. Forex trading
37. Blog set up and customization services
38. Website and domain name flipping
39. BulkSMS, SEO and article writing services
40. Reselling services on Fiverr
Finally, I expect you have been provided with various investment options that will help you pick a successful business to start in Nigeria. This list is not exhaustive as there are many other successful small businesses that is open to investment for any serious entrepreneur in Nigeria. You will also see some thriving home businesses in Nigeria on this list.
All the best as you start any of these successful small business ideas listed above.
Finally, the above hot business ideas in Nigeria are reliable and profitable business that worth capitalizing on. Therefore, do take your time to pick one or two that interest you and take action now.