Business Ideas In Nigeria That Are Very Lucrative

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lucrative business ideas

There are very many business ideas in Nigeria that are very lucrative which you can pick from to do. Some of the businesses can be started with little or no capital. For instance in freelancing you don’t necessary need money to start provided you have android phone or laptop and data then you are good to go.

In zobo making business with #1,000 you can comfortably start and grow the business. Having a business idea is good but developing a business plan for the business is better. If you are looking for hot business idea for 2020 you have more than a dozen of them to chose from in this post. It is advisable you go for the one you will be happy doing because attitude also contributes to the success of any business.

Considering Nigeria population no business idea is less important whether it starts with no money, little money or huge capital. Do you know that there are many amazons publishers who are earning millions every month in Nigeria. It does not depend on the amount you are using to start a business nor the type of business but the mind set and being prudent.

Here are a list of Business Ideas in Nigeria

Farming Business Idea

Farming is a very strong and pivotal sector in Nigeria and all around the globe. Food is one of the basic needs of man and no man can do or survive without food. To produce food that will carter for over 200m persons in Nigeria we need to go into vigorous farming.

Gone are those days farming was left in the hands of the uneducated, these days graduates are making exploit in agribusiness. Already, oil palm farming, poultry farming, cattle rearing has been churning out millions and has helped in boosting the nations economy.

There are huge opportunities in agribusiness. You can venture into animal farming such as; fish farming, poultry farming, rabbit rearing, snail farming etc. Apart from cash crop (tree crops) farming you can start with vegetable cultivation, dry season vegetable farming is very lucrative.

Selling Fruits

Many people now know the importance of eating fruits and so the number of consumers have increased. To start fruit selling business is not difficult. You can start from your home the most important thing is for you to know where you can be buying the fruits at anytime.

Benue State, is known for fruits production in large quantities,for example, they have orange farms that can cater for majority of Nigerians. Traders go from different parts of the country such as Lagos, Port Harcourt etc to buy,

Fruit selling business does not required big capital. Provided you have secured a place to run the business #50,000 can conveniently start the business in a big way.

Honey Business

Honey business is very interesting and profitable. The most important thing is to sell original honey. Once you are known for original honey customers will be the ones looking for you. Many people are now into bee farming. Get to know the ones that are genuine because some of the farmers mix their honey with sugar for more profit.

You can get original honey from Adamawa (Ganye) and Taraba States. #50,000 can start honey business. You can start small and grow it. Chose very good packaging materials to make them attractive. Packaging is now a trend and has a way of making your business sale. If you like sell original honey but if the packaging is poor the sell can also be poor.

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Hot business ideas in Nigeria

Home Tutoring

After my Secondary School, I engaged myself in home tutoring. I was able to save money to buy Jamb form and have money to take care of some things as a teenager. The pay was good because the child I tutored was from a wealthy home. Actually, someone connected me to that family, you may not have such favor instead of looking or waiting for who to connect you, why don’t you advertise your skill.

Approach parents in your worship centre you never can tell one or two parents may require such services. You can use social media platforms such as; Facebook, Twitter, Instagram etc to attract clients. In this kind of business idea you don’t need money to start all you need is your determination and the ability to take action.

You must be very good in teaching to be able to impact, you can’t give what you don’t have. So keep updating yourself by collecting the school curriculum for that section study to be empowered. You can use public library for reading and continue reading to remain relevant.

Ebook Publishing Idea

If you are good in writing you can make money from it. You don’t even need to be a good writer before you can start. If you have #100,000 you can pay freelancers to write for you to publish.

There are very many publishing platforms to use in selling your books example; Amazon, Publish drive etc. These are global markets if your books are well structured with good keywords, in a month you can make $1000. As you keep adding new books, your earnings keep increasing.

To start, create account with the stores you want to use, chose a niche, research on it and start publishing.

Mobile Phone Repairs

This is a lucrative business idea as well that is if you position the business in a strategic place. You can start phone repairs with less than #100.000, shop not included. Things needed includes

  • Small generator
  • Soldering machine
  • Tester
  • Meter
  • Rework station
  • Soldering iron
  • Accessories

It can be positioned in a business environment or residential area. The more work you do, the more money you make. You can make 3k, 5k, 10k etc.in a day.

Food Business Ideas

Restaurant business is very lucrative. No matter how difficult life maybe to some people, they must still eat. Because of the kind of job some people are doing they don’t have the time to cook. The next place to eat will be in a restaurant.

There are different ways to do food business.

  • Mama put
  • Bar
  • Food vendor
  • Restaurant etc.

The good thing with food business is that you and you family can eat from it too. This means you won’t spend money in buying foodstuff or creating time to cook what to eat.

The capital to start food business depends on the type you are venturing into. With #10,000 you can start mama put. The setting of the business explains the name. Food vendors are sellers that carry their food about. Mama put choose one spot arrange chairs for people to sit and eat while restaurant has executive setting.

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Food business ideas in nigeria

Perfume Making Business Idea

Perfume making is very easy. The most important thing is to know how to combine fragrances in other to get unique and adorable perfumes. The people selling chemicals can assist you with the choice of chemicals and fragrance to use.

The capital to start perfume making business is not much depending on how you want to start. With #100,000 you can start in a small scale. The materials to use are locally available.

Perfume business ideas

Cosmetics Business

Cosmetics sales is sweet where competitors are less. It may interest you to know that very few persons consider cosmetics business. That is why you see provision shop owners incorporating it into their businesses because the want to fill the gap since many people are not looking that way.

Enter any market calculate the number of provision shops and that of cosmetics shop you will be amazed at the outcome. Cosmetic business is very lucrative especially now that many people pay more attention to their looks and smell.

Hair saloon business Idea

Hair dressing saloon business is lucrative depending on location. If you set up your shop where working class people concentrate you will make money or in places where churches around don’t cover hair. In these kind of environment customers will like to wear new hair do every week, fortnightly or once every month.

Excluding shop, half a million can set up a standard hair salon business but you can still start with small amount by being prudent.

Make-up Artist

Make-up artists are the ones making plenty money with or without shops. All you need to do in this business idea is to know how to make up very well. To make up one person attracts not less than #5,000. When my sister did her birthday party last year, she paid for about 5 of us to get our faces done, the lady left with more than #20,000 for just less than a days job.

When you are to do it professionally people will be the ones coming to you, recommendation will be coming from everywhere, you can even hit contracts from agencies. Foe example you can be employed to be a make-up artist for media stations like television station or actresses.

Viewing Centre Business Idea

The percentage of people that like watching football is more especially in males than those who have less interest. You can say almost every home has cable but many people don’t enjoy watching European League, La Liga, Premier league at home. They are best enjoyed when watched with others.

People want to analyze to the hearing of others or listen to other people’s analysis. The augment that ensure, the euphoria is very interesting to many. Thereby creating business avenues for entrepreneurs. To start a business centre you need a spacious environment that can accommodate at least 100 persons. Go through my post on viewing Centre business to know the capital needed for start up.

Day Care Centre

This business idea is very good for sit at home mum. It doesn’t require much money except you want to turn it into School. Capital can be zero or small depending on how you intend to start. Some of the operators will buy playing materials that the children will use.

The amount to charge parents will depend on the location and standard. If you are in a big Centre you can charge 20k but if you are in suburb you can charge 5k per child. Imagine having more than 10 children to care for in a month with no expenses you will make good money every month.

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Car Wash Business

You need a spacious environment such that can accommodate 5 cars in a roadside, close to park or in a busy area. The most important thing that is require in this business idea is, care wash machine and water. What will give you an edge over others in this business is to know how to wash cars very well. The charge per car is from #500-#1000, imagine having to wash about ten cars per day. To make more money add rug washing to it.

Zobo Business Idea

Selling of Zobo drinks is not a bad business idea because it is a silent money making business. There is huge profit in zobo business, you will make three times the amount you bought the items for production.

Assuming you spent #1,000 for the zobo production you will make a profit of #3,000 or more depending on your price tag. It is a business you can start with as low as #1,000. To have a wider coverage you can register with NAFDAC to have an edge over others.

How To Start Zobo Drink business In Nigeria eni best

Real Estate

We are more than 200 million in Nigeria and everyone needs a roof under her head. No parent will like to expose their children to danger and so will do everything to provide this important basic need of man.

The business thrive well offline, however you can use online presence to attract customers. There are ways you can make money from real estate business. You can get commission from every client you refer that pays.

If you have enough capital you can build and rent out this is one business I encourage people staying abroad to do. This is because it can be managed from anywhere. All you need to do is pay a lawyer to manage the property for you while money can be paid directly into your account.

Transport Business Idea

Transport business is very lucrative, whether it is long distance or within town. Chose the route you will be plying and employ good hands to manage the business for you. You can even start through hire purchase.

It can be bike, keke or car transport business all of them are lucrative.

Other Business Ideas to consider are:

  • Soap making
  • Snack production business idea
  • Beads making
  • Gift bag making
  • Mini importation Business
  • Storage business idea
  • Nylon business
  • Bike logistic business
  • Catering business
  • Foodstuff Business
  • Oil production business (continue oil, castor oil, moringa oil etc.)
  • Garri processing business
  • Flour production business (bean flour, yam flour, plantain flour etc.)
  • Yam business
  • Oil palm business
  • Hire purchase business
  • Pure water business

Conclusion

You will find some interesting business ideas in Nigeria for students in this post. Home business ideas and retail business ideas in Nigeria. Hot business ideas, low income business ideas in Nigeria etc.

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