- The unemployment rate in Nigeria has increased over the years and left many turning to entrepreneurship
- This has made many on the hunt for ideas to jump on
- Here are some business ideas you can explore as someone looking to do business in Nigeria
The spate of unemployment in the country has also left many with no option but to start their own business. So, if you are looking to kickstart your career in business or diversify, and you need help deciding what you can easily and affordably do,
TheRadar has compiled a list of 10 lucrative business ideas you can start easily in Nigeria today with little or no capital. Let's explore these business ideas.
10 lucrative business ideas you can easily start in Nigeria
1. POS business: This is a great business idea as more Nigerians have switched from using Automated Teller Machines (ATM) to using Point of Sale (POS) for cash withdrawals and other financial transactions. You gain commissions on transactions you perform for your customers.
2. Cleaning and laundry services: This is another business idea with high growth potential as most people working in busy cities in Nigeria rarely have time to clean their homes and offices or even do their laundry. You can explore this significant opportunity by offering your services as a laundry person who cleans offices, homes and clothes. This won't require breaking the bank to purchase the basic equipment needed.
3. Ghostwriting business: If you are a creative or research writer, you can produce written works on behalf of clients, who then receive credit for the work. The clients can range from authors and public figures to businesses and executives. A smartphone, an internet device, and a laptop are all you need to get started.
4. Fruit drink Business: Most people are taking a healthy lifestyle seriously. You can start a fruit drink manufacturing and distribution business with basic ingredients like leaves, fruits, and other natural spices. Zobo, kunu, tigernut and soya drinks are popular examples.
5. Blogging and content creation: The blogging business is another lucrative business you can venture into as a passionate and skillful writer. By creating high-quality and valuable content for your audience, your blogging site gets increased website traffic.
6. Perfume oil business: The Perfume Oil business is a lucrative venture you can explore as a small business owner. You can begin with a small capital to buy perfumes in small quantities from reliable wholesalers at a subsidised price and resell them to customers.
7. Social media marketing: With increased social media engagement, most businesses leverage social media advertisements to boost their sales. You can earn money through your smartphone as a social media marketer by advertising for brands.
8. E-commerce/online retail: E-commerce remains one of the best business ideas you can execute in Nigeria. It is a solid one that allows you to reach a vast audience, capitalise on niche markets, and offer convenience to customers.
9. Football viewing centre business: Nigerians love good football, and most football lovers love watching with other people. This is why a football viewing centre is a great business idea in Nigeria.
10. Car wash business: Car washing is another lucrative business idea in Nigeria that is easy to set up. People will always require the services of a car wash and if you've enough space, you can easily set up a car wash business.
DISCLAIMER: These business ideas are not guaranteed to be 100% foolproof. It is important that you carry out thorough research and planning before you start any of the above businesses, as each business has its own challenges and risks, and other factors, such as the environment, can come into play.
Top 10 products to consider for your online business
Meanwhile, TheRadar released a list of products that online vendors can consider for their business.
Therefore, if you are considering starting an e-commerce outlet or considering expanding, you should consider these 10 lucrative products, which guarantee good patronage and substantial profit.