The question about the most lucrative small scale business in Nigeria is vital for many people who want to live out of their own business and want to give their time, energy, and funds only to something profitable. So, how can one make money in Nigeria? There are several useful suggestions, so let’s focus on them.
Which lucrative small business to choose?
When it comes to starting a business, the main point is not even in the starting capital. It happens so that people always manage to find money to start their business. The main thing that interests people in the business they are about to start is its profitability.
This is why people search for the best advice on the ideas of the most profitable small business, which can bring them some money. If you need some wise recommendations on this matter, too, keep on reading. Below, you will find useful advice on the businesses you can run for the profit and future success.
Before we start, it’s necessary to mention one very important point. Having a business can be quite complicated and you need to remember that running a business doesn’t mean collecting only profits. It’s a lot of responsibility and efforts. If you are really ready for it, then, you should start your own enterprise.
It’s not difficult to determine the most popular and profitable businesses at a given moment in time. Still, if you want something stable, you should focus on things that are never out of demand or outdated. Health, food, sports, children, beauty – all these areas of everyday life can give you a hint of which business to choose.
Also, consider the specifics of the area where you live. It’s useless to establish a fashionable hair salon in a poor village where people have no funds to pay for the services.
Search for an idea that’s unique for a certain location, meets the demands of the local population and make your services affordable for them. This is how your small business will flourish, bringing you the profits you want.
Top most profitable business ideas in Nigeria
Nigeria is a developing country with a quickly growing population. They all need food and the only sphere that can provide the nation with enough food is agriculture. If you want big profits, start agricultural business of any type: poultry, cattle farming, raising crops, and so on. Give attention to the food types of other agricultural products that are in demand.
- Farming organic crops
Organic food that’s not genetically engineered has become extremely popular nowadays. Well-off people focus on such products because consider them to be more healthy. As a rule, these goods are much more expensive than regular ones. Thus, organic farming can be quite a profitable business.
- Fish farming
Having a pond beside a house for fish farming is not difficult. Still, selling this fish to big markets and food producers can be a very profitable venture. You can expand your ponds with time, when you have enough money, and increase your profits significantly.
- Raw food products retail
Nigerians love cooking at home and have a perfect national cuisine. This is why selling raw food products will bring you good money. Everything you need is a small space equipped with all the necessary devices to store these goods in tidy and suitable conditions.
- Baked goods
Baked goods are popular everywhere around the world. Having a small bakery is one of the most profitable business ideas in Nigeria. To be able to start such a venture, you will need to go to catering school. In addition to this, you will need suitable premises with a lot of equipment. However, it’s well worth the fuss.
- Running a gym
Men and women always like to look good. This is why they go to gyms and work out hard to be in a good physical condition. Having a small gym equipped with the most popular and functional machines is a wonderful idea for a small business owner.
- Beauty salon/barbershop
It’s especially good if you live in a city where there are not many places of this type. If you have the talent for styling hair yourself, you will need only a working place that meets all the hygiene demands and tools. In case you are into hiring specialists, you will need to provide them with everything they need and comfortable working places. In spite of all difficulties, it’s a very profitable business.
- Daycare or nursing centers
Having a daycare center is a huge responsibility but it’s also an insane profit. More and more people are having more and more babies that need to be looked after while their parents are at work. If you are not afraid of hard work, create a daycare center (it will not be easy) because it’s worth every invested effort.
- Cosmetics: making and retail
Homemade beauty care is booming now when people demand everything “natural” and “handmade”. If you have a skill for making fancy soaps, creams, lotions and other beauty care means, it can be a great idea for you.
On the other hand, if you are not into making these goods on your own, you can run a shop that retails high-quality but affordable cosmetics from famous manufacturers. It’s also a very profitable business.
- Repairing computers and mobile phones
While there are devices, there will be breakdowns. Having a computer/phone repair office can give you a lot of profit because the modern computers and smartphones are often broken, need the touchscreen glass replacement, and so on. Even uploading pictures from a phone to a storage device can be profitable.
- Transportation services
Carrying loads the farmers take to marketplaces, helping people move into a new home or deliver something big and heavy from a store is a lucrative small business. If you have a good durable vehicle that can travel long distances and carry big weights, go ahead!
- Tailoring and selling clothes
If you have skilled hands and a good taste, you can succeed as a tailor. People would advertise you as a talented specialist and you will not even need advertising. You can work both on people’s orders or tailor things and then sell them via the Internet. On the other hand, if you are not that good at tailoring, you can retail ready-made clothes and also have huge profits.
- Nursing care
Elderly people often have no strength or ability to look after themselves. Their relatives are ready to pay nurses for spending time with their elderly ones and taking care of them. If you are not afraid of getting your hands a little dirty, try this business.
Well, these are several small business ideas in Nigeria, which don’t demand much special skills or training in advance. These ideas of small business can really bring you significant profits and prosper with time. Try some of them and see!