With the increasing rate of unemployment in Nigeria, one will agree that starting up a business is the wisest journey to embark on. There are a thousand and one businesses that can be done, but not all of them stand a good chance of turning out well.
Some of them require a little capital to set-up, while others are not cost-effective, all the same, they are profitable.
1. Crèche, Nursery and Primary School
Education is a necessary door that every Nigerian must pass through. No matter how many schools exist in a town, there will always be room for another one – a cheaper one with high standards of learning coupled with a conducive environment.School business has no rival among its mates.One area to start from is the crèche; it is easier to handle and can grow to add the nursery and eventually the primary sections to the scheme. You don’t need to own a big building for it. You can start from as little as a room in your house and expand with time.
2. Fast Food/Eatery
You can never go wrong in the Fast Food business. Lots of Nigerians, especially bachelors, depend solely on foods made in either restaurants or eateries. This is due to their inability to prepare these meals themselves, or just the laziness in making them. You can start small in stands or kiosks, or a real building, depending on the amount you have as capital.
3. Sachet water production
An increasing number of Nigerians depend on sachet water for drinking. Although there are several companies that produce sachet water in Nigeria, the demand for the product keeps getting relatively higher than the supply, therefore there is room for more sachet water producers.
This business is capital and labor intensive but it is worth venturing into, because it has a high-profit margin of over 50%, especially if it is well-managed, and the product is widely distributed. Since no one can do without drinking water, you can be sure your business will do pretty well if it is well taken care of.
4. Laundry/dry cleaner
Everyone enjoys wearing clean clothes, but not everyone enjoys the process of making those clothes clean, and this is where you come in. Laundry business is a small-scale business that can be established at the back of your house and requires small capital to establish. With more Nigerians getting busier and some lazier by the day, this business can fetch a lot of money in a short while. You can also set it up in a big way to gain rich customers who dry-clean expensive clothes and pay more.
That requires a handsome amount for purchasing the equipment needed, nonetheless, the basic materials needed for this business are water, detergents, buckets, pressing irons, hangers and a couple of drying ropes and pegs.
5. Making of Fruit Juice
Because everybody wants to be nourished and look fresh, Nigerians drink fruit juice more than any other people in the world. This is one reason why companies like La Casera and Chi are making billions of naira every day.
The country is blessed with various fruits; mangoes, oranges, pineapples, and banana, especially in states like Benue. But a lot of these fruits go to waste due to lack of preservative methods. Although this business is capital-intensive, one can set it up in a fruit producing state to cut down production costs.
6. Rice farming
Rice remains the single most consumed food staple in Nigeria and Billions of dollars go into the importation of this product yearly. Most of the rice eaten in Nigeria comes from China and Thailand because the local farmers here are unable to meet up with the demand due to poor funding and limited knowledge. With a few millions, you can start-up a commercial rice farm in places like Ebonyi state where the land is favorable to the crop. Nigerians unanimously agree that local rice is sweeter than foreign rice, so if you can start from the local and make sure you de-stone it well, you can be sure to grow and make a good profit.
7. Poultry farming
Raising domesticated birds such as chickens, ducks, turkeys and geese, for the purpose of meat or eggs for food, is one successful business venture.This business has been making average Nigerians rich in the last decades, and foreigners have seen its lucrative nature and are coming in to invest in it too. If you start with 1,000 chicks and manage your birds properly, by the end of the first year you must have sold over 2,000 birds and a thousand eggs, and still have more to sell for the festive period.
8. Plantain Chips Making
On major streets in most Nigerian cities, one snack you are sure to find in shops and traffic is Plantain chips of different brands. The product is easy to produce and fast-moving as consumers buy it every now and then to keep their mouths busy and stomachs filled. If you engage in the business of producing and supplying plantain chips, you will be making good money on a daily basis. All you need is: ripe and unripe plantains, a big frying pan, a small sealing machine, nylons and labels, and other utensils, and you are ready.
9. Import Used Cloth
Since a lot of Nigerians can barely afford to feed well, a good number of them patronize Tokunbo clothes, also known as O.K or Okrika clothes.The market in Nigeria is quite big as not everyone can afford new and expensive designer clothes from boutiques. Most people who can afford expensive clothes still prefer buying first grade O.K clothes because they are most times original and one-made samples. The cost of buying and importing used cloths is low compared to the prices in the market here in Nigeria and it has a guaranteed good turnover. You can start selling by introducing your goods to friends and neighbors.
10. Office Supply
Many businesses in the office supply industry have recently expanded into related markets. Most people who work in offices often times feel reluctant or get too busy to go out to buy certain things like paper, pen, stapler, and other materials needed in an office. You can help them do the shopping and add your mark-up.
Gradually, you’ll be a major supplier and even extend to other offices around. This business does not require a lot of money for start-up, and allows even students to engage in selling stationery to fellow students. In another dimension, you can buy goods such as clothes and shoes and other personal items and sell them in offices especially places like banks where workers do not have time to get to the market.
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