Entrepreneurship is one of the potent ways to create wealth in this time and age. However, a lot of people have money but are confused about the kind of business to venture into. Interestingly, there’s a long list of businesses you can start with a low capital budget.
I must stress that there is no bad business idea, there are only ‘bad’ or inexperienced business managers. So, when you think of starting a business, also ensure you get all the entrepreneurship knowledge you can find.
Your skillset also plays a vital role in the type of business you should run. Because remaining in business is more important than just starting a business. So, it is important that you choose a business that you are passionate about.
Having said that, here is a compiled list of 100 profitable business ideas you can start in 21st century.
See Also: Starting A Business In Nigeria: A Comprehensive Guide
1. Co-working Space
In a place like Nigeria where electricity and internet are still pressing issues, co-working space comes in handy. Not every business owner has the capacity to own personal office space but they can start off from a co-working space.
In addition, some people work from home and all they need is a professional address for official purpose. So, this is where virtual office service comes in.
To start, you can rent a building, demarcate it into offices, make provision for the internet, generator, and the like. Alternatively, you can build a new structure or start off with an existing building.
Example of an established co-working space is ReDahlia Workspaces at 43B, Emina Crescent off Toyin Street, Ikeja. ReDahlia offers co-working services as well as virtual office service. You can study them to have a broader
understanding of the industry.
2. Digital Marketing Agency
Digital Marketing is one of the businesses of the 21st century. If you have not jumped on this train, you are still living in the past. Digital Marketing is a lucrative business you can start with just your laptop and good internet service.
Firstly, you can work with a digital marketing agency to get hands-on experience. Afterward, you can create the niche you want to play in. You can focus on social media marketing or target a particular industry?
With the right training and experience, you can venture on your own. Create a website, social media handles, and start fishing for your customers.
3. Branding and Communications
Branding business has a ready-made market you can play in. As a matter of fact, every business wants to create its own identity. However, to build a branding company, you must be an expert in that field or work with an expert.
For a start, you will need a laptop and good internet service. Subsequently, create a voice for your company that reflects your brand. In addition to that, design templates that meet company standards and ensure you stay consistent in your deliverables.
4. Transportation Company
Without a doubt, the transportation sector cannot be oversaturated. Imagine a place like Ikeja Lagos, where you have a crowd of people fighting over a bus. The case is most times the survival of the fittest.
You must know that the transport business is broad. Therefore, you will need to specify which area you intend to play in. Some of the options include bike rental, car hire, taxi service, moving company, air transport, medical transport, boat transport, and truck transport, among others.
Having said that, you can also consider partnering with companies like UBER, Taxify, and the like. Employ a driver while you go about your daily job and get returns weekly or monthly.
5. Recruitment Agency
Getting the right employees to work with can sometimes be a daunting task for employers. Today, some companies prefer to outsource their recruitment process. So, if you have what it takes, this is a business to explore.
Recruitment Agency can also be called staffing or temporary agency. To establish this, you must first determine the recruitment services you want to provide. For instance, you can focus on IT professionals, construction companies, the oil and gas industry, or the banking industry, among others.
Afterward, you can go on to study recruitment agencies that operate in your niche. Also, invest in training materials, webinars, and the likes. It is also important that you familiarise your self with the laws of the industry you want to play in before starting.
6. Food Business
I call the food business the ‘EEE Business’ (essential for everybody every day). An idea that serves everybody will remain viable for a long time. However, history has it that many food businesses pack up within a short period.
To avoid being part of the statistics, you need to follow the under listed steps:
- Choose the area of food business you want to operate in. Options include baking, restaurant, catering services, fast food shop, biscuit making, etc.
- Conduct thorough research in your niche market
- Focus on giving irresistible taste and stick to it
- Package your service in a unique way
- Be up-to-date with the current trend in your industry.
See Also: Business ideas for stay at home moms in Nigeria.
7. Event Management Services
In a country where every Saturday is ‘owambe’, you can’t help but agree that the event planning business is worth a shot. Sometimes, individuals often find out they lack the expertise and time to plan events themselves. So, having an event planner to manage their event will be highly welcomed.
To start the business, you need to get experience in event services and also build a portfolio for your brand. In addition to that, it’s a huge plus if you are a certified event planner.
8. Errand Services
Errand Service is one of the easy businesses with much profit potential. Moreover, the business does not require any professional skill or certification whatsoever. Interestingly, you can start with very little capital.
Today, people are too busy such that it is difficult to run their errands themselves. So, they are more than willing to outsource the task.
To start errand services, give your business a name, register it legally and start advertising it to your target audience.
See Also: Business opportunities in Lagos and how to clinch it.
9. Travel Agency
According to the Nigerian Tourism Development Commission, the travel industry in Nigeria has become one of the fastest-growing businesses in the world and is currently worth about $4 billion. This is because people have a constant desire to explore the world. On this premise, you should know that this business has come to stay.
To start, find your niche as there are different aspects of the business. In like manner, choose a good location and build a website that portrays your business.
Equally important, you must know that a lot of people have been scammed by some travel agencies. So, you should be wise to have a physical location where your clients can meet with you in person and also develop strategies to earn their trust.
See Also: Top five tourist attractions in Nigeria and their locations.
10. Event Ticketing Business
Online business is one of the lucrative businesses of the 21st century. Whether you like it or not, technology has come to stay and the best we can do is to grow with the evolving trend.
You can hardly find any week without a series of events, seminars, retreats, and the likes. So, consider investing in the event ticketing business.
You can either sell tickets for your own event or become a ticket broker. In both cases, the approach is almost the same. As a ticket broker, you will need to buy blocks of tickets in advance and also open a website as a channel to get it across to your target audience. In like manner, to sell tickets for your own events, open an event ticketing website you can direct people to.
11. Training Services
Another business you can venture into is the training business. Increasingly, training companies are gaining ground and many have amassed so much wealth running it.
The beauty is that you are only reproducing what you already know and you get paid each time you show up. For instance, you can start a computer training centre, business coaching, product and service training, soft skills training, digital marketing training, photography training, etc.
So, the question is, what skill set do you have? What field do you have expertise in? Once that is ascertained, you can then create a brand around it. For a start, you can rent a space to carry out your training. Subsequently, you can build your own training space.
In addition to that, register the business legally and also get the professional certifications related to your field.
12. Blogging
If writing comes naturally to you, you can equally turn that to a business. Currently, blogging is one of the ways to make your own ‘blood money’. Although it takes hard work and patience to build a sustainable blog, It is always worth it at the end. You just have to keep providing relevant content and maintain the standard you started with.
Blogging is the act of creating content for the web. A blog post is posted in the blog category on your website. Of course, you can start with common blogging platforms e.g bloggers.com until you are able to build your own website. There are different ways you can earn from your blog like: google ad sense, affiliate marketing, sponsored post, banner ads, etc.
If this business idea is what you will like to explore, follow the following steps:
- Choose a name that reflects the niche you want to consistently blog on
- Get a domain name and web host for your blog or join a blogging platform
- Launch your blog and start publishing.
To avoid not being seen, it is very important you learn about search engine optimization because this will determine the visibility of your posts.
13. Fish Farming Business
Fish farming has great opportunities and you can start small from your house. Firstly, to start a fish farm, you need ample knowledge about fishes and how they are taken care of. Also, you have to learn about the business side of fish farming.
If you are starting in your house, you will need a space probably at your backyard where you can dig a fish pond. Moreover, you can raise fish in tanks, containers, or tubs.
Some of the equipments you will need include:
- Net or Seine Reels
- Fish tank
- Aeration devices
- Handling and grading equipment
- Water testing equipment
See Also: Agriculture in Nigeria – Being a creator economy through agriculture.
14. Poultry Farming
Poultry farming means rearing different kinds of domesticated birds like chicken, ducks, and turkeys for the purpose of producing meat, eggs, and feathers. Over time, the poultry farming business has proven to be lucrative, especially chicken rearing.
Sources have it that farmers currently raise more than 50 billion chickens annually. You will need to choose the type of poultry farming to engage in. For instance, there are two types of chicken farming: Layers and Broilers. Layers are chicken raised to produce eggs while Broilers are chicken you raise for meat.
Other options include poultry feed production, hatchery, egg and meat processing.
See Also: Survival entrepreneurship is no longer enough to drive change in Africa.
15. Pig Farming
Pig farming is the breeding of domestic pigs as livestock. Basically, pigs are farmed for food e.g pork, bacon, and gammon. Piggery is a profitable business and you can get a return on your investment within a short period.
The first thing to do is to select a suitable land and choose the proper pig/piglet breeds. Actually, you can choose both local and hybrid piglets. However, for business purposes, a crossbreed of hybrid and local breeds is the best.
Another thing to note is that pigs are sensitive to heat and they may become sick and die due to excessive heat. So, proper housing is necessary to keep them warm.
See Also: Entrepreneurship is a career option – Four ways to go into entrepreneurship.
16. E-commerce Business
A perfect example of an e-commerce business is Jumia and Konga. Statistically, e-commerce has experienced great growth since 2010. In fact, customers prefer to buy from an online store than visiting physical locations. To start this business, follow the steps below:
- Find an appropriate name and register it with CAC
- Set up your own online store
- Register with a secured payment gateway
- Explore the right marketing strategy
See Also: What nobody tell you about entrepreneurship.
17. Make-Up Artist
If you can create magic with make-up kits, then this could be the best business for you. Interestingly, there’s never been a perfect time to try your hand on owning a cosmetic brand than now. Today, some ladies will never attend a party without make-up. So, it’s your business to build relationships with this kind of people.
In addition to that, you can partner with wedding oriented businesses like bridal shops, caterers, wedding consultants, and the likes. You can also target people planning for weddings and share your business card with
them.
According to research, you can make N8,500 per hour if you play well in the industry.
See Also: 20 ways to make money from the booming wedding industry.
18. Fashion Designing
There are businesses that are a pure goldmine, and fashion design is one of them. Do you have a talent for designing fashion products? Well, this idea may be for you. As a matter of fact, your fashion design business can pick up fast if you are determined to succeed.
Lest I forget, to excel in the fashion business, you must think like an entrepreneur, study who your clients are, start small with one product, set the right prices, and put all your products online.
Having done that, market your product to your target audience.
See Also: How To Profit And Stay Up-to-date in Fashion Industry
19. Freelance Business
Freelancing is working on a contract basis for several companies as opposed to being an employee. Interestingly, you can have a full-time job and also operate a freelance business as a side hustle.
The freelance business includes freelance writing, virtual assistant, freelance photography, Search Engine Optimisation (SEO), bookkeeping, freelance web developer, and graphic designing.
See Also: How to make money from freelance writing
20. Photography Business
If you are interested in getting paid to take pictures, photography is the way to go. So, how do you start? First and foremost, decide what type of photography services you’ll offer. After that, follow the under-listed steps
- Develop your business plan
- Create a business name and register it
- Buy necessary equipment like camera, lighting, and the likes
- Create marketing materials and publicise your service
21. Video Editing
I read somewhere that a good editor is like a midwife. Actually, the video editing business is bringing what’s in other people’s minds to life. So, if you are creative and skilled in video editing, you can invest in it as a full-time business.
See Also: 8 smart ways to make money in a broke economy
22. Legal Services
To a great extent, starting a legal service consultancy requires a good amount of legal knowledge and professional certification. So, if you are a trained lawyer, you can consider this line of business. The market for legal service is on the rise every passing day. Alternatively, if you are not a trained lawyer but you are interested in the legal service business, you can hire trained lawyers to work with you.
Basically, there are various types of legal services you can offer. Options include business law, family law, criminal law, and personal jury law.
23. Accounting Services
Every structured business needs accounting services. Obviously, entrepreneurship is now the order of the day, especially in a country like Nigeria. So, it is an opportunity to provide supporting services like accounting services to new and existing business owners.
However, you have to either study accounting in school or enroll in a professional outfit like ICAN to get certified as an accountant. You can start by helping businesses prepare financial statements, bookkeeping, bank reconciliation, payroll processing, or forensic accounting.
24. Bead Making
Its no longer news that the beauty business is gaining ground than before. Obviously, everyone loves to look good. So, the demand for beaded necklaces, bangles, bags, and earrings is on the rise.
Basically, the primary thing you need is to get bead making training but in this business, creativity is equally important. With hard work and flexibility, you are on your way to profit-making.
See Also: How to commercialize your idea and skill for profit.
25. Wig Making / Wig Training
The hair business has been around for a long and is, of course, one of the lucrative businesses you can try your hand on. Nowadays, you can hardly find a woman who does not own a wig or two. To get into the wig business, whether as the producer or reseller, you should at least have experience with hair. Practically, anyone with good people skills can delve into the business.
But generally speaking, will you make money from wig business? Certainly, and lots of it. Most often, hair business have a 100% ROI if you are buying from the real suppliers.
In the same vein, you can organise training for intending wig makers or sellers. That way, you can bag additional income.
See Also: Bootstrapping your business – why you should and how you should.
26. Social Media Marketing Agency
Although social media began with the idea of connecting with friends and families, it has grown into a weapon to drive business growth. Most times, business owners are too busy to handle their social media accounts
themselves. As a result, they outsource the task to social media managers.
Practically, this business is still evolving and there’s no perfect time to start than now. That said, what does it take to be one? You need social media knowledge and exposure. Yes, its that simple.
Another thing to note is that social media management is broad. So, if possible, you can combine two or three of the services. Option includes:
- Social media account set up
- Designing graphics and posting on behalf of clients
- Developing social media strategies based on the client’s goals
- Increasing the number of clients followers
- Staying up-to-date and sharing trends relevant to the clients business
See Also: How to fail and succeed in business
27. Tutoring
If you are looking for a cost-effective and easy business to start, tutoring is worth a shot. Sometimes, students need broader knowledge of what was taught in class especially in some subject areas. You can tutor students on different level i.e elementary, secondary or tertiary.
Essentially, for a start, you need ample knowledge of the subject you want to teach and the ability to convey it in a simple way. Actually, there’s cool cash for grab in the tutoring business and it has quick growth potential.
28. Coaching Business
Do you have a passion for coaching people or creating an impact in the world? If yes, then you can consider a coaching business. The coaching business is wide so, you have to specify which category to play in.
For instance, you can consider being a business coach if you’ve garnered business insight that can help an aspiring entrepreneur start out effectively. In other words, ensure you have the resources, expertise, and experience in any field you choose to coach people on.
Interestingly, there’s no limit to the income you can make in this line of business. Although, the income may not come immediately you start the business.
Some of the coaching businesses you can start include:
- Life coaching
- Business Coaching
- Public speaking coach
- Customer Service Coach
- Confidence Coach
See Also: Ways to avoid pitfalls in start-up business.
29. Bakery
Bread, pastries, cakes, and other baked-related foods are rated among the most in-demand. Truth is, starting a standard bakery business can be expensive. In fact, it’s one of the businesses that demand a sizable starting capital.
However, you can start with a mini bakery. There are generally four types of bakeries: counter service bakeries, specialty service bakeries, sit-down bakeries, and online bakeries. As the case may be, you can either offer
one of the four or consider combining them.
30. Pure Water Factory
Water consumption is unavoidable. This is another ‘EEE Business’ (Essential for Everybody Everyday). The truth is, water is essential to life and this might be the right idea for you. No doubt, the pure water business is profitable but it is expensive to start.
The good news, however, is that you can start out on franchise where you work with an already established pure water company. With that, you only pay a franchise and other production fees.
Another option is to start as a distributor. All you need is a vehicle to convey the sachet water to retailers and consumers alike.
See Also: Mistakes startups make that will kill their business.
31. Furniture Making
Today, the furniture business is experiencing good times due to the adoption of modern standard of living. In a nutshell, you will always find the work of a furniture maker in almost every home and office. So, trust me, this is not a bad idea at all.
Another interesting thing is that you don’t necessarily need to have the skill to set it up. Of course, you can employ artisans to do the construction while you handle the design and management of the business.
You can easily find customers if you produce quality furniture that suits the taste of your target market. Also, the furniture business can be established from home and you can subsequently move to your permanent office as you grow.
See Also: Side hustle business you can start to earn extra cash
32. Frozen Food Business
A lot of people overlook the potential in the frozen food business probably because it’s been around for a while. This is one of the businesses you can start with low capital and build it gradually. The frozen food business is all about buying, storing, and selling frozen foods like Fish and Chicken. Meanwhile, you can devise your own strategy that stands you out from the already saturated market.
Needless to say, the condition of Nigerian electricity is still the same, so, this business opportunity is going nowhere anytime soon.
33. Car Wash Business
The car wash business does not require the service of an expert to be successful. Contrary to some people’s belief, the car wash business is not limited to a particular class of people. As a matter of fact, graduates, youth, women, investors, etc can establish this business.
Although the business seems easy, you must, however, note that the car wash business is location-driven. To buttress that, you must also get approval from relevant authorities to use certain locations for your business.
Other things to put in place include, but not limited to, borehole digging, finance, overhead tanks, power, detergents, buckets, and so on.
See Also: Telling the ReDahlia Story; A brand preoccupied with entrepreneurial support.
34. Laundry Mart Business
Given the constant need for clean and ironed clothes, investing in the laundry business is not out of place. Also, consider that a large percentage of the world population is part of the worldwide workforce, and so, have little or no time to get their clothes washed, talk more about ironing.
For a start, learn all you can about the laundry business. Subsequently, create a name for your business and register it. Also, get the dry cleaning equipment and set your price.
I must stress that good packaging most times, drives the laundry mart business. So, endeavour to fashion that into your strategy from inception. With that in place, you can go ahead to promote the business to your target market.
See Also: Business lessons from Muhammed Ali
35. Clothing/Shoe sales
Imagine yourself going out without clothes. You may have probably said ‘God forbid’. That tells you how important cloth is to humanity and we cannot get enough of it. It’s the same way with shoes as well, except you are a member of the celestial church.
In this business, you can either start your clothing line or sell other people’s clothing lines: whichever rocks your boat. Practically, you can buy a cloth and shoe for N6,000 and sell at N12,000, depending on your clientele.
36. Fruit Juice Production
Honestly, you can’t go wrong with a chilled fruit juice business in Nigeria. Statistically, Nigeria is one of the highest consumers of fruit juice in the world. An investment in this business can yield more than twofold returns on investment within a short period if done right.
Actually, fruit juice production is capital intensive but worth every penny of your investment. Although, you can also start small.
Choose the type of fruit juice you want to produce. It could be pineapple, apple, pawpaw, or a combination of more than one fruit (smoothie). Whichever you pick, just ensure it’s of good quality.
See Also: Practical ways to reduce business expenses.
37. Salad Business
We are in an era where healthy food is in high demand. Interestingly, vegetable salad is regarded as a healthy meal by everyone. I must say, the thought of salad is the beginning of hunger.
The salad business is basically about selling well packaged prepared salad to salad lovers. You can equally open a salad bar where you display a variety of prepared salads and other salad ingredients for consumers to buy.
For starters in the salad bar business, please note that you have to comply with the standard set by the food and drug organisation of your state.
See Also: Business plan samples for small business owners
38. Beauty Services
Currently, there’s so much societal pressure on women to look perfect. So, if you are looking to get a piece of the beauty business pie, now is the time to begin. The fact is that the beauty business has a wide horizon and it demands that you find your niche in the industry.
Some of the beauty business you can start include:
- Manicure and Pedicure business
- Cosmetic Store
- Spa business
- Skin Clinic
- Beauty blog
- Tatoo business
- Beauty TV production
- Eyelashes and nail studio
- Dermatologist
- Beauty consultant
- Perfume production
39. Massage Therapy Business
Massage Therapists ‘Masseuse’ enhances a person’s well-being by manually manipulating their soft body tissues. If you are a trained massage therapist who wants to start out or you are entirely new to the system, the fact is, massage therapy business is a profitable venture.
To start with, you can earn a certificate or diploma in massage therapy or learn from a massage professional.
40. Computer/Phone Repair
All computer owners face computer problems. From set up issues to crashes, networking challenges, and the likes. If you have a technical background and a good understanding of computers and phones, this may be for you. Besides, you can start the business with very little capital.
The most important step is to buy the necessary tools and start by advertising to your friends and family, offices, and schools alike. As time goes on, you can progress into creating a website, social media marketing, and related publicity channels.
See Also: Why you should write a business plan
41. Interior Design Business
You don’t necessarily need a college degree to start an interior design business. Notwithstanding, you must study every bit of the business before launching out. Generally speaking, clients love to hire experienced designers to decorate their homes. Still, you can pave your way into the industry with some clever marketing strategies.
42. Artistry
Certainly, there is a financial and personal reward in starting your own art business. Particularly, you can monetise your paintings if drawing comes naturally to you. Aside from having the talent, writing a business plan, and deciding on a business name will not be out of place.
43. Tour Guide Business
Do you enjoy seeing the excitement of people having a new experience? Are you a fan of history and culture? If yes, the tour guide business is for you.
As a tour guide, you have to be familiar with your local environment and tourist attractions in the area as well. Furthermore, you should help people enjoy the tour experience because that’s what will keep them coming back.
See Also: 4 Guaranteed ways to to increase sales and win more customers
44. Personal Chef
If you plan to own a catering company someday, becoming a personal chef is a good way to test the waters. Usually, personal chefs prepare meals for busy families, workers, birthdays, small parties, anniversaries, and so on. To a large extent, the income depends on experience and the type of food requested.
45. Printing Company
The printing Business is one of the businesses that keep evolving every time but requires good managerial skills and expertise to maintain. To begin with, you can start a printing company on a large or small scale, depending on your capacity.
You can partner with an already established printing press for a start. In other words, you will get the contract while the printing press handles the execution at an agreed discount. In the meantime, build your clientele and gather enough money to establish your own printing press.
46. Graphic Designing
Graphic designers play around colours and images to create items like calendars, magazines, brochures, and sometimes, web design. In actual fact, if you can learn graphic design skills and add your creative prowess to it, you can get this business up and running. Moreover, its a business you can run from home or on a freelance basis.
See Also: Types of Entrepreneurship and Characteristics of Entrepreneurship
47. Bureau De Change
Bureau De Change is like starting your own mini-bank. Not only that, it’s a business you can make a fortune from, if done right.
A bureau de change makes money from selling and exchanging currencies. In other words, they buy and sell foreign currency at different rates.
48. Hotels and Bars Business
Africans have an appetite for relaxation and partying. Thus, hotels and bars will keep making money. In any case, while you can make a lot of money from this business, it requires a good marketing survey and taking informed decisions. Although it is capital intensive to start, it is also quite lucrative.
49. Software Development
In an era where technology is the order of the day, software development is a good catch. Today, what some people were paid to do a few years back have been replaced with machines. If you have a technical background, you can look for a social problem and develop software that will solve the problem. In fact, if you get this right, ‘one good software’ can pay you for life. Yes, ask Mark Zuckerberg.
50. Butchery Business
The meat business is a good business that has not lost its charm. Statistically, the percentage of people that eat meat far outweighs those that don’t. In spite of that, you will need butchery knowledge and a good strategy is a must-have.
For instance, there are regulations and enforcement agencies in control of this industry. So, familiarise yourself with the industry as much as you can.
51. Cold Room Business
Cold Room business is one of the silent million making business in Nigeria. On one hand, you can start a cold room where you sell pre-packaged food items like frozen foods, yoghurt, ice cream, ice block, soya milk, prawns
and so on.
On the other hand, you can operate a cold room where customers store their perishable items for a fee and pick up at a convenient time. This is particularly a great idea when you consider the electricity condition in
Nigeria.
52. Computer / Phone Sales
Nowadays, there is stiff competition in the sale of electronic gadgets in Nigeria. Nevertheless, it remains a fertile venture to invest in.
As a beginner, you can be a distributor for a leading brand. Alternatively, you can buy in bulk, get a showroom, and display the items for prospective clients to see.
Above all, like any other business, employ good marketing technique that will stand you out.
See Also: Types of taxes and how to pay taxes in Nigeria
53. Electrician
If you have experience with joining wires, repairing meters, and related equipment, then setting up your own electrical business is ideal.
On the contrary, this business is not only for illiterates. It’s a lucrative venture that is even studied in college. In a nutshell, you can establish this business with an entrepreneurial state of mind.
54. AC Repair Business
Virtually every modern office or home has air conditioners. Actually, this appliance is expensive to replace, so most users opt for repair when theirs become faulty. If you are good with AC repairs, you may want to consider it as a full-blown business venture.
For a start, come up with a price list for all services types you offer and market the business in your area. At the same time, talk to property management companies to get you on their vendor’s list. Try to also get contracts with commercial property owners.
55. Tiling Business
Starting a tiling business is easy provided you have hands-on experience in tiling. Regardless, to turn your tiling experience into business, you need to sharpen your tiling skills. You can register for a tiling class to achieve that.
In the same vein, you will need to have all your equipment handy. e.g carpenter’s squares, chalk line, tape measures, notched trowels, etc.
That being said, customer acquisition is paramount. And, you can get them by networking with other contractors and developers. Word of mouth is also a powerful marketing tool to deploy.
See Also: Different types of business structures in Nigeria
56. Footwear Making
Everybody wears shoes. Literally, footwear making is a business that provides one of the basic needs of man. In truth, its a business worth every penny you invest in it.
Basically, there are two ways to start footwear business
- Learn the skill as an apprentice, afterward, start the production yourself.
- Employ skilled staff, and handle the management aspect of the business.
Equally important, you need to find your niche. Are you focusing on men, women, or children’s footwear? Are your shoes going to be formal or informal? Selecting your niche gives you a sense of direction.
57. Bag Making Business
Bag making business requires creativity, skill, and business knowledge. To a large extent, the startup capital depends on your business model. You can either start hand made bags or an assembly line.
To thrive in the bag making market, you need to introduce new, quality, and beautiful concepts. Although there are lots of players in the industry, you can make yourself noticeable.
See Also: How to start a business with almost no cash
58. Voice Over Artist
Do you have a naturally attractive voice? Do you have what it takes to project brands to the public? If yes, voice over is the way to go. Truly, the voice acting is one of the most rewarding businesses you can venture into. Especially, when you consider the diverse range of clients you can work with. Plus, the potential to make as much money as you like.
For a start, you can offer your service for free to companies. Moreover, you need to project yourself as an authority in your field before the client can begin to trust you. Also, you can network with other voice over artists that can connect you to prospective clients.
59. Babysitting Business
Babysitting is about the cheapest business to start. Babysitters can make as much money as their schedules permits. Obviously, it does not take a lot to be one.
On one hand, you can operate a part-time service where parents call you to babysit their kids whenever they have an outing. On the other hand, you can be a full-time babysitter working for just one family.
60. Day Care / Creche Services
Day Care Services involve taking care of infants, school-aged children, pre-schoolers, and so on. To begin, you need to choose the kind of daycare service to offer; either in-house or center-based. Whichever you choose, ensure to get the necessary license to operate such service in your chosen community.
Also, create a workable contract between your company and the parents to avoid unnecessary problems.
See Also: Questions you must answer before starting a business
61. Platform Aggregator
Another business you can start is the platform aggregator business. There’s a lot of emerging entrepreneurs that need visibility. So, if you are tech-savvy, you can build a website where businesses can list their services for the world to see. For every client that purchases through your site, you will get a discount.
62. Education Business
Education, they say, is the best legacy anyone can have. Truly, learning doesn’t stop, no matter the age. So, you cannot go wrong with the education business. However, expertise is important in the education business, so ensure you have the experience, credentials, and license required to start such business.
Likewise, determine the sector you want to venture into e.g primary school, secondary school, university, music school, professional institute, etc. Once that is in place, you can then tackle other necessary steps like securing a place, marketing and the likes.
63. Specialised Hospital
Without mincing words, the market space for specialised hospitals is vast. To illustrate, Nigeria’s population is over 180million and everyone needs health care services.
Of course, the government has provided lots of health care facilities like primary health care centre, general hospitals, and tertiary hospitals. But, the Nigerian populace needs more health facilities, and starting one will be a good initiative.
Some of the fields you can explore include: gynecology, pediatrics, neuro science, psychiatric, orthopedics, cardiac etc.
64. Loan Services
Money is the lifeblood of every business. Without money, there’s no reason to remain in business. Obviously, many SMEs face the challenge of funds for business operation and expansion. On the other hand, employees also need extra cash to meet up with the high cost of living.
Considering the rigorous process of getting loan from banks, an alternative lending platform will be highly welcomed.
So, if you have good knowledge of the financial market and the required startup capital, this is your best bet.
See Also: Sources of business funding for start-ups in Nigeria
65. Hospice Business
Hospices provide care for individuals with terminal diseases, so they can live the rest of their days without pain. As a matter of fact, individuals that sign up with hospices tend to live longer than expected.
So, if this business interests you, you can either offer your service in hospitals, client’s home or build your own facility.
To promote this business, you can start by educating people on its importance because few people are aware of it. You can also work closely with hospitals and health agencies to widen your horizon.
See Also: Is good customer service a favour or a due?
66. Pharmaceutical Services
How often do you hear the word, “I have a fever”, “I am Cold”, or “I have Malaria”? More often than not, right? Needless to say, the first place these set of people visit is a nearby pharmacy. So, there’s sure cash for grab here as well.
There are rules guiding the sale of drugs and it’s regulated by the Pharmaceutical Council of Nigeria (PCN). So, ensure you register with them.
Most importantly, you need pharmaceutical knowledge and experience to start this business. Therefore, ensure you meet the necessary requirements before starting.
67. Boat Charter Service
What’s as beautiful as cruising on a boat with people and making money while at it? Perhaps, one of the best experiences. So, if you are interested in making money on the sea, boat charter service is one of the ways to achieve that.
To begin, you can either purchase a boat or lease one.
See Also: How to create the perfect ad with audience targeting using samples
68. Rentals
It will interest you to know that despite the economic condition of Nigeria, people still find a way to organise parties almost every weekend. From birthday to wedding, anniversary, and dedications. The list is endless.
With this in mind, the rental business is worth investing in. Actually, there are various items you can start renting out to party organisers e.g chairs, canopies, iron pots, tables, and so on.
Meanwhile, apart from event equipment, you can also rent out items like projectors, speakers, microphones, and other electronic gadgets.
69. Mobile DJ Business
If you are a lover of music, outgoing, and full of energy, the mobile DJ may be the ideal business idea for you. Although this business is fun and exciting, it also comes with its own demand. If you are a true professional, you will succeed in this business.
70. Movie Production
Movie Production can serve as both an art and a fulfilling business. So, if you are interested in turning your love for movie into business, it’s not a bad idea.
There’s actually no single path to filmmaking, but you need to work with industry experts to thrive in this business. You can start as a subordinate under a respected figure in the industry. That will, to a great extent, serve as a stepping stone for you.
71. Cleaning Services
Gone are the days when people do all the house chores themselves as they are constantly busy. Hence, there’s a need to seek support from people who can offer such services for a fee. Cleaning is one of the major needs of every home and office.
As a matter of fact, this business is still very much untapped, probably because it is seen as a menial job.
On the contrary, the cleaning business has now been modernised. Even the high profiled are getting involved. You can develop your unique marketing style to penetrate this market.
For instance, you can establish an outfit that caters to office cleaning. Alternatively, you can major in house cleaning. Besides, you can employ people to do the jobs while you handle the management aspect of the business.
72. Public Speaking Company
When you listen to a great speaker, do you have an innate desire to be one? If yes, public speaking is rewarding and it gives you the opportunity to charge your own fees.
Notwithstanding, you need to sharpen your speaking skills to do well in this field. Equally important, gain expertise on a particular topic and become an authority in it. You can also write articles for publications to gain more recognition.
Above all, consistent practice is a major tool to becoming an expert in this field.
See Also: Top 10 Nigerian startups solving Africa’s problem
73. Content Writer / Author
The demand for content writing services will remain, as long as there is the internet. So, if you are a good writer, you can make earning by writing content for websites, individuals, and businesses. On the other hand, you can write a book and sell on platforms like Amazon, Etsy shop, Shopify, and so on.
74. Plantain Chips Production
Have you ever be stuck in Lagos traffic? If you have, you will agree with me that plantain chips are one of the stress relievers you can find at that moment. So, there’s a ready market for this business. Interestingly, it doesn’t cost a lot to start this business. You can start on a small scale and increase your production as business improves.
75. Pop Corn Production
Pop Corn is also one of the businesses you can start with small capital. Besides, there’s no special requirement to establish this business. If you can master how to use the popcorn machine (which does not take long to learn), and the basic knowledge on how to make popcorn, you are good to go.
In addition to that, you can adopt a unique packing style for your popcorn. Moreover, the time has proven that packaging sells before the product.
See Also: 6 Things To Do For A successful Product Or Service Launch
76. TV / Radio Showbiz
On-air personalities are one of the respected set of people in our time. Aside from that, radio and TV show business is a rewarding venture. Although there is stiff competition in the industry, commitment and innovation will help you stand out.
For a start, come up with a show that people cannot say no to. Once you get your audience’s attention, you are halfway to your business success. In addition to that, companies and individuals will love to advertise on your show once it attracts their target audience.
77. Gym Training
Nowadays, there is so much pressure to remain fit with the ‘fitfam’ crusade. As a result, people go the extra mile to keep their bodies in shape. From using slim tea to taking drugs or engaging in exercise. Over time, exercise has been proven to be one of the best ways to stay fit and healthy.
However, most people lack the motivation and zeal to exercise on their own hence, a need for a trainer. So, if you have what it takes to be one, you can give the gym training business a thought.
78. Mini Importation / Exportation
Before now, the import and export business is for the big goons. But, today, even someone at the bottom of the pyramid can dive into the business. All thanks to technology.
In this business, you can make as much money as you deem fit. To begin, you need a personal computer, valid e-mail and home address, internet access, and knowledge on how to run the business. So, you can enroll in a mini importation/exportation class for in-depth knowledge.
See Also: How to successfully run a wholesale distribution business.
79. Mechanic Workshop
If you are a skilled mechanic and you have access to capital, then you can venture into this business. Alternatively, if you have basic knowledge of running a mechanic workshop, you can employ a skilled mechanic to work with you. Obviously, every car owner needs a mechanic, so you have a large market waiting for you.
Furthermore, once you have a shop or an open area and the necessary toolsets, you are good to go. Also, for a start, you can offer to repair clients’ cars in their homes.
80. Tissue Paper Production
It’s almost impossible to not find tissue paper in offices, schools, restaurants, homes, hotels, and other related places. In order to maintain a clean environment, there will always be a need for tissue rolls. So, if you are looking for a simple manufacturing business idea, here it is.
In this business, you can either adopt the manual or automated production. Whichever you choose, make sure it is quality because that alone can guarantee you repeat customers.
See Also: Practices That Help You Profit in Downtime
81. Palm Oil Business
Palm oil is good for the heart, they say. So, asides making money running a palm oil business, you will also be helping in increasing the life span of your customers.
To begin with, you can either be the palm oil producer or operate as a reseller. After all, both are profitable. So, the choice is yours.
See Also: How to start palm oil business in Nigeria
82. Recharge Card Distribution
As long as there is a phone, there will always be demand for recharge cards. Now, if you want to start a recharge card distribution business, you will need a computer, software, printer, and paper. In as much as you have a large customer base, you have a better chance of succeeding in the business.
83. Property Management
Basically, property management is about managing the day-to-day activities of properties that are available for lease. Property management does not require certification to start. However, you will need to liaise with people like landlords, tenants, developers, and contractors.
In addition, you will need to familiarise yourself with landlord-tenant laws and other relevant laws. As simple as the business sounds, it also comes with its own challenges. But, if you know how to manage real estate well, you are sure going to thrive in the business.
See Also: Real estate investment business in Nigeria – Gold worth investing into.
84. Barbing Salon Business
Truly, the barbing salon business is one of the ventures that has stood the test of time. Practically, men visit the salon at least once in two weeks to have a haircut. Interestingly, it costs little to start the business. As a matter of fact, if properly managed, you can make a fortune from running a barbing salon.
85. Waste Management
Actually, waste management is still quite new in Nigeria and it’s a business future-forward people should consider. Basically, the business is all about packing and recycling waste to help achieve a neat and healthy environment.
To begin, you can venture into direct waste management. Alternatively, you can focus on non-recycling or middle man waste management.
See Also: How to make extra income through waste collection
86. Farming Business
Certainly, farming is one of the highly rewarding business anyone can start. In Nigeria today, young people are venturing into agriculture and we are experiencing the needed shift from the saturated oil sector to agriculture. And this is very commendable even as the government has shown increased interest in the agricultural sector recently. Therefore, there is no better time to invest in this sector than now.
For a start, determine the agricultural problems people face and proffer solutions to them with your product. After all, business is all about solving a problem.
See Also: Qualities Entrepreneurs Should Possess To Succeed In Business
87. Virtual Assistant
A virtual assistant provides secretarial supports to clients. So, rather than employing a full-time secretary, some business owners prefer to go for a virtual assistant. The good news is that you can provide the service
even from the comfort of your home.
Some of the jobs of a virtual assistant include answering calls, responding to emails, building brands, handling social media, and the likes. Normally, the duties differ based on client requirements.
In addition, you can have as many clients as you can handle. You can as well employ additional hands as your client base increase.
88. Haulage and Logistics
The haulage and Logistics business involves transporting goods and cargos from one place to other using trucks and other related vehicles. A lot of businesses depend on this business because without them, they may not be able to get their goods. Hence, there’s a large market in this industry.
However, haulage and logistics demand huge capital and rich experience. To begin, you can work with a logistics company to get hands-on experience and networking opportunities.
89. Hamper / Gift Basket Business
Certainly, you will have lots of fun moments running hamper business. Really, some people develop headaches deciding the best gift to get for their loved ones and you can make cool earning relieving them of the stress.
All you need to do is buy different gift items, put them together in an attractive basket or container with some light decorations and you are good to go. On the other hand, you can package gift items for occasions and
festivals like Christmas, Easter, valentine, and so on. You will make a good profit by running this type of business.
See Also: Business Challenges Faced By Entrepreneurs In Nigeria
90. Fumigation Business
Sometimes, people face pest problems in their homes or offices. So, you can be their saviour by starting a pest control business. The business requires the mixture of some chemicals, and if you are not familiar with them, you may need to learn from an expert.
Success in pest control business has a lot to do with excellent marketing strategy and quality product.
91. House Painting
The house painting business is one of the easiest and less expensive business to start. As a result, there is stiff competition in the business. So, to excel, you will need a good business model and image that sets you apart from existing painters.
Furthermore, you can either purchase your paints or produce them yourself. The latter puts you in better control of your earnings than the former.
92. Driving School
Before anyone can drive a car, they must learn how, either from friends, relatives, or a driving school. So, this opens up another business opportunity for you; a driving school. If you have a car, and can also teach how to drive, you are good to go.
Nevertheless, before you begin, you will need to find out the state’s requirements for starting such business and settle that first.
Thereafter, develop your driving school curriculum, set your prices, get a location and start advertising.
See Also: How To Make A Statement With Your Brand
93. Plumbing Service
According to the bureau of labour, the plumbing business is growing faster than some white-collar jobs. Actually, you can start a plumbing business on a small scale repairing local toilets, leaking faucets, and the likes. In addition, you can also take on big projects like city pipelines, house construction, company constructions, and so on.
As a beginner, get the necessary training under an established plumbing company. Thereafter, get the licenses, permits, and tools required to start the business. The rest depends on your marketing ability.
94. Bulk SMS Service
If you are wondering if the Bulk SMS business is profitable, wonder no more because it sure is. Actually, bulk SMS demand is high because of the ease in getting information across to thousands of people at a go on a low budget.
You can start the bulk SMS business as a wholesaler or reseller. But, reselling is much cheaper for starters. All you need to do is register with a bulk SMS wholesaler, buy custom SMS units, create a reselling platform and
start promoting your business.
95. Ice Cream Production
A scoop of ice cream on a hot day gives mixed refreshing feelings of fun and satisfaction. Truly, there is an opportunity in the ice cream business and it’s going to be around for a long time. Statistically, the global ice cream business is estimated to reach $74.96 billion by 2024.
Now, if you are considering it as a choice, you will need to learn the necessary steps and ingredients for making ice cream. Furthermore, you will need to also take the required legal steps.
See Also: 5 Simple Steps To Owning A Business in Nigeria
96. Mining
If you have the resource and are interested in mining business, now is the right time to jump in. As a matter of fact, mining is one of the highest contributors to Nigeria’s economy.
You can start by choosing the mineral you want to focus on, mine it, and sell. Some of the minerals include iron ore, coal, gold, sapphire, emerald, etc. It will interest you to know that there are several sites in Enugu, Niger, and Zamfara states that are rich in iron ore.
97. Wine Bar Business
Usually, wines are consumed at homes, restaurants, events, and special occasions. If you know so much about wine, you can establish a wine bar business. Importantly, the wine bar business is location-driven, so ensure to find a good location that will drive sales.
See Also: 5 Business Books Every Entrepreneurs Should Read To Scale In Business
98. Security Company
In the aspect of security, Nigeria is still growing, as a result, there is an increased demand for security services. If you are an aspiring entrepreneur or investor, you can start a security training and recruitment company.
Alternatively, you can start a bodyguard agency or sales of security products.
99. Construction Company
The construction business can be quite profitable if you put in the work. If you have experience working with a construction company and you intend to break out on your own, it’s not a bad idea.
Apart from start-up costs, you will also learn how to market your service and complete projects as at when due. For a start, you can research the construction needs of your local environment and introduce your service to as many people as you can.
See Also: Advantages And Disadvantages of Franchising Business
100. Football Viewing Centre
Football is one of the sports that engage people almost every day of the week. Amazingly, football lovers see it as more fun to watch a match at a viewing centre than at home. So, the demand for viewing centers is on the rise. To start this business, all you need is a big TV screen, power, decoder, and space.
If you are wise, you can also include sales of other items that will interest your audience. That way, you are making a double income.
To keep track of our activities, follow us on Instagram
1 thought on “100 Profitable Business Ideas For Aspiring Entrepreneurs And Investors”
Good endeavour