Every business has the potential of making lots of money, whether it is a large or small scale business. But the starting point of building a business is having a great business idea.
Business Ideas in Nigeria
A significant number of successful businesses in Nigeria are online. But there are still lots of opportunities serving people offline too.
However, let’s start from what you need to know before venturing into any business.:
- Identify your niche
- Identify a business problem in your environment which is within your capability to solve.
- Learn a relevant skill/develop your skill
- Research the market
- Launch your product
- Build good customer relationships
- Be ready to take risks
A profitable business is not necessarily one that is popular but one that strategically meets the demand and solves specific problems. There are over hundreds of business ideas that you can execute. However, in this article, we would be highlighting a few lucrative business ideas in Nigeria.
A courier service business basically functions as a transport delivery system whereby goods and packages are delivered across the nation. You can either go solo if you have the resources or partner with any well-recognized transportation business company.
The basic requirements for starting such a business include having courier offices, good transport network, and trusted drivers.
Writing services have proved to be lucrative as a lot of companies offer good rates for excellent content. As a professional writer, you can take advantage of this by creating a writing team of 2-3 writers, depending on the strength of projects you get.
The advantage of this business is that it can be done anywhere. Also, you do not necessarily have to quit your day job, unless in cases of full time writing agencies.
Events Planning/ Consultancy Agency
With a good knowledge of event planning and management skills, you can start up an event planning agency. Here, you put together a group of skilled people in all aspects of event planning, that is decoration, lighting and sound, ushering and protocol, and catering. With such a team, your agency will provide clients with one-stop service delivery.
This could become a lucrative business if you are passionate about taking care of the elderly. Preferably if you studied nursing or hospitality, this business would be a great fit.
In this business, creating a conducive environment for your customers to relaxed would be paramount. In cases where customers would not like to leave their homes but would still love to benefit from nursing services, you can create a home-service team to attend to such groups.
Dry Cleaning Business
For whatever reasons, a lot of people do not have time to do their personal laundry. Why not use the opportunity to offer professional laundry services to clients.
To succeed at this business you must go beyond regular “wash n’ iron” services to distinguished packaging to attract top clients.
Here, you register as a data agent with a network provider. Though many Nigerians buy data directly from their individual network providers, the advantage you have as a data agent is that you could sell at a cheaper rate compared to network providers.
To become a data agent you must first register with network providers. Once the registration is complete you will receive an ID which would enable you to purchase data in bulk and resell at a cheaper rate. A good place to start is Paykobo
Recharge Card Printing
Printing of recharge card can be a very lucrative and profitable business. Like data, majority of Nigerians purchase recharge card daily. Data and airtime have become two necessities for everyone with a mobile phone. Printing and selling recharge cards in bulk are more profitable compared to buying and reselling.
To have legal access to network providers’ recharge pin, you must first successfully register with these companies. Receive necessary certification to print recharge pins of all networks.
Home- Catering services
This is a strategic money making method which goes beyond conventional catering services. You do not need to have a series of large cooking pots and kitchen utensils. All you need to do is offer home catering services to busy individuals or parents who have little or no time to cook. It would surprise you to know that quite a number of busy people would rather have someone prepare homemade meals for them than constantly eating at restaurants.
If considering this, your target would be bachelors, working-class spinsters, and busy parents. You can either prepare the meals from home and package them in take-away packs or prepare the meals at the clients’ houses.
As a business-minded person and a lover of children, you can convert your passion into wealth via offering babysitting services to working-class families with tight work schedules. This business can be done at the comfort of your home, in a case whereby you have an extra bedroom that can be easily converted. However, having a full Daycare centre away from your home would be more preferable and professional.
Your services can be charged at an hourly rate. Extra rates could also apply to parents who would run late picking their children.