Are you looking for the best business ideas in Nigeria? Want to know what investment opportunities in Nigeria you can start with little capital? In this article you will find the fastest growing businesses in Nigeria.
Business in Nigeria is the best decision you can make. There are companies that generate stable income that need to be taken into account. Some of these businesses have been tested by successful entrepreneurs and have been confirmed to be very profitable. Therefore, if you are an immigrant, foreigner, domestic, citizen or non-Nigerian citizen, you should dare to name one of the businesses in this article.
Nigeria is one of the best countries to invest in as a potential entrepreneur or as an appetizer. Before you go any further, keep in mind that you need to do some good research before starting a business in Nigeria. A business plan and business record are also required for you to be seen as a legitimate entity. You can start small and grow as a beginner. Marketing strategy is also one of the factors that determine business success. The business ideas mentioned below consist of different sectors, both in the agricultural sector, online and offline. Here we come:
22 most profitable companies to start in Nigeria.
Here are the profitable businesses in Nigeria:
1. Cake production
The cake production business is one of the most lucrative businesses with small businesses in Nigeria to begin with. Cake is a baked goods and snacks commonly consumed in Nigeria. The demand is very high, as it is needed in events such as birthday parties, weddings and anniversaries. Cake is one of the cheapest products to buy. You can start this business on a small or medium scale, depending on your budget.
2. Hairdressing
The hairdressing business provides daily income. Men are also involved in this business, it is a unisex business. There are those who think that this business is intended only for women, but this is not true. Both husband and wife can participate in this venture. You must be trained to gain experience. Consider capital and location to be the most important factors in this business.
3. Photography
Photography is one of the best companies in Nigeria. Very easy to get started but requires good training. The market is high! Because different events take place every day, the photographer is needed. Although it may take some time before you become a professional, but you should start and enjoy the fun and income that this business entails.
4. Cartoonist
Cartoon businesses are very lucrative in the Nigeria, although many people don’t appreciate it. The comic book business is a quiet system for making money and requires knowledge. You can draw good money cartoons and even make them big using them as animation.
5. Jewelry business
In Nigeria, everyone who walks down the street mostly wears jewelry. The jewelry business is a profitable business, very easy to start and manage. It can even be started from home or part time. If you’re looking for fast-moving businesses in Nigeria, jewelry isn’t far away.
6. Bakery
The huge demand for baked goods such as cakes, bread and other baked sandwiches is huge. This business is one of the most lucrative business opportunities in Nigeria. It requires good training, a business plan and a good marketing strategy. This company requires dedication and more of your time.
7. Watermelon farming
Watermelon is one of the best consumed fruits in Nigeria. It is very soft and fresh, it is also known as a fruit with a good source of water. It is very profitable to grow watermelons. Here are the factors to consider when starting your own watermelon farm: capital, obtaining watermelon seeds, purchasing good fertilizers, and a good management system. There are many good reasons to invest in watermelon business. It is very easy to start and it is also a business full of profitability.
8. Popcorn business
The popcorn business is another amazing business opportunity in Nigeria. If you’re going to eat fast or play with kids, you’ll see that popcorn is the most important snack. We refer again; If you also go to the movies, you will also see a popcorn shop. This is to tell you how profitable popcorn is. Popcorn is one of the most delicious snacks for individuals and children. Popcorn is in high demand at parties and gatherings. These will always be the best Nigeria business ideas.
9. Car wash
Car wash involves washing people’s cars and recovering payment. Some car owners have a hard time washing cars, they prefer to wash cars. Therefore, this business is very profitable. You can start on a small or large scale. You need to know how to wash your car before starting this business.
10. Internet business
Online businesses have grown toward major revenue streams in Nigeria. There are different types of online businesses that can be started with little or no capital; is freelance, affiliate marketing, blogging, information marketing, and more. Choose the one that suits your criteria and get started.
11. Poultry farming
As we always say, "Poultry is the most profitable agricultural business in Nigeria." Over the years, the poultry industry has been earning a good income for farmers, although there are many challenges. So, as a beginner, you should do some good research and learn more about poultry farming in Nigeria. Before setting up your poultry farm, consider the following: land, equipment costs, food costs, medications, housing costs, and labor costs (if applicable).
12. Telephone repair companies
Telephone repair is a profitable business in Nigeria. Many phones are damaged on a daily basis and repair service is required. Therefore, this business is very profitable. Learn more about repairing phones, watching YouTube videos on phone repair, learning about and setting up your own phone repair business. You should also consider a good location that can attract potential customers.
13. Making of beads
This business is currently booming in Nigeria and the demand is huge. Regular Nigerians are very fond of beads like necklaces, bags and bracelets. Beadwork is one of the most profitable businesses to start in Nigeria with a little capital. It takes two more things to start this business: capital and creativity.
14. Fruit salad business
Before you start a business, you need to mix one variety of fruits into another to get a delicious fruit salad. The fruit salad is the sale of different types of fruit such as grapes, apples, cucumbers, bananas, papayas, pineapples, etc.
15. Laundry services
Laundry is also another lucrative business idea in Nigeria. The investment varies depending on the size of the business, whether on a large scale or small scale. The good thing about this business is that you can start from home. Get the necessary training and knowledge about business strategy and get started.
16. Graphic design
Graphic design involves using movements, images, or sketches to create a design. This business needs training, business plan and marketing strategies. Keep in mind that the business plan is very important. A good business plan is like creating a solid foundation for your business and a good marketing plan is like a roof covering a building. A good business plan and a marketing plan work together to bring you a successful business.
17. Sale of telephones
Telephone sales are also a lucrative business in Nigeria. 95% of Nigerian have a phone and 60% also want to buy new phones, so this business is very profitable. Market research is the factor to consider before taking a move. Before starting your own telemarketing business, consider the following factors: business plan, good location, and good customer relationship.
18. Barber salon
The Barber lounge has a big benefit. The Barber lounge is one of the best Nigeria business opportunities that requires a small investment. Every hairdresser makes money every day, because people will always cut their hair in the others so that it looks good. It is very important to get a government permit for a legal person.
19. Making soaps
Soap manufacturing companies are also full of profitability and competition. Soap is a product that is used daily in Nigeria and demand is also increasing daily. Before starting your own soap business, consider the following factors: Training, capital, government permit, equipment, and a marketing plan.
20. Footwear business
Everyone probably needs shoes. Therefore, it will continue to be a profitable company in Nigeria. Getting started is very simple. You need a good location for your business, choose a niche (if you need to focus on men’s, children’s or women’s clothing or the combination). You also need a good business plan and a good marketing plan.
21. Snail growing activity
Although snail are not as popular in Nigeria, they are very cost effective. This company is a low risk business that can start generating revenue in a year. Snail farming is known to be the easiest livestock that does not require stress during education. The following are factors to consider for snail companies: housing costs, snail species, feed costs, and marketing.
22. Telephone accessories
Phone accessories can be cost-effective if you can identify fast-selling phone accessories in Nigeria. Phone accessories include the sale of phone accessories such as a USB cable, ear plug, storage card, phone parts, and more. You need to know your target markets and competitors.
These are the 22 most profitable business ideas and opportunities in Nigeria.
