Top 10 Lucrative
Business Ideas
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How about
starting a small business in Nigeria in 2019? According to research, the times
of economic crisis and financial meltdown are the best periods to start a
business. The good news is that you don’t need a huge amount of capital to
start a successful small business in Nigeria. With great business ideas and a
good execution strategy, you are on to a successful business venture.
You know you
want to start something for yourself. You just need to funnel your ambition and
time into an idea that will earn you extra cash, make you proud, and possibly
lead to a full-time venture—and that amazing moment you get to say “I quit!” to
your boss.
The cost of
starting a business in this era of the internet and social media technology has
greatly reduced. In this post, here are few validated business ideas you can
start with almost no capital.
1. Uberpreneur – Driving for Uber
There are many
different reasons why people choose to drive with Uber. Some do it for the
freedom to drive when and where they like. They’re the boss, and they work for
as long or for as little as they want, following a schedule that suits their
needs. An average Uber driver earns within 80,000 – 120,000 Naira a week.
Driving for
Uber is one of the most lucrative business ideas in Nigeria right now. It does
not only give you the opportunity to work when you want (including nights or
weekends) but also give you the ability to earn some extra cash while doing so.
While some drivers are doing this full-time, some only do it at nights after
day job and on weekends.
2. Social Media / Influencer
Marketing
Instagram,
Snapchat, YouTube, Twitter and Facebook – Social Media is the Next Big Thing.
These are platforms where Nigerians are making a load of cash just by sharing
engaging contents and building a loyal followers list. This is a business idea
you also need to venture into if you are crazy about social media.
Build up a
following on any of this platform and you could quickly be approached by major
brands, gear companies, and other relevant businesses that sell products or
services related to the type of content you share. If you have hundreds of
thousands of followers, you can easily charge anywhere between 15,000 – 50,000
Naira per post or more—which makes for a very profitable side business idea.
3. Web Design and Development
As a web
designer or developer, you’ll build incredibly valuable skills that are in
extremely high demand in the Nigeria market. You can get up to speed on
building websites in as little as a few weeks by using a free tool like
WordPress.
Aside from
having the opportunity to work on your own schedule, you can make as much as
50,000 – 250,000 Naira per website project. If you looking to greatly improve
your web development skills, Andela is a great place for you to start and
acquire the knowledge you need.
4. Graphic Design
While having a
formal background in graphic design is absolutely going to be helpful, it’s
also relatively easy to learn the foundations of graphic design on your own
using tools like Adobe Illustrator and Photoshop.
But before you
can start earning a living as a graphic designer, you’ll need to build your
skills recommend and be creative in all your designs. I recommend showcasing
your design skills on platforms such as Instagram and Facebook to earn a good
customer base.
5. Freelance Content Development
/ Ghost Writer
Do you
consider yourself a wordsmith? Setting yourself up as a freelance content
development could prove to be a side-hustle or maybe even a full-time job.
Companies in
Nigeria such as media agencies, blogs and startups will pay big time for
someone who can write a clean copy of contents, whether it’s for
advertisements, websites or blogs. Some will even pay you for your editing
services. However, consider how much work it takes to make freelancing work
your full-time gig.
6. Starting a Blog or Vlog
hink blogging
is no longer a viable source of income? Think again. Tens of thousands of
bloggers, creating content on topics as diverse as cooking, fashion, gossip, news,
travel, film, and lifestyle. Starting a blog/vlog with a particular niche and
focus on a particular set of individuals is a lucrative business idea with
great potentials.
Your first
step is sharpening your writing abilities, understanding what your audience
craves and learning how to write a blog post that drives traffic and brings you
readers on a regular basis.
7. Cake and Cupcake Bakery
Making, decorating, and selling
one-of-a-kind cakes and cupcakes for occasions ranging from birthdays to weddings
to anniversaries is a great business idea for the hobby baker to pursue, and
one that is potentially very profitable.
You can get
started on a shoestring budget by baking and decorating right in your own
kitchen. An effective marketing idea is to send samples of your cakes to
interested parties to make sure they send business your way or showcase
pictures of the cakes on Instagram using appropriate hashtags.
8. Small Chops Food Business
Starting a
small chops food business is a lucrative business idea in Nigeria. Nigerians
desire for light meals like small chops has greatly increased in the past
years. Aside from big events like weddings, funeral and birthday parties, small
chops are also the preferred choice when gathering friends for a get-together,
boat cruise and a time on the beach.
The great
thing about small chops is that even though there are a lot of people offering
this service, there certainly won’t be a shortage of demand. The key to being a
successful small chops business owner is creativity and packaging.
9. Digital Marketing Agency
A digital
marketing agency is different from your traditional marketing agency in that
they are typically focused on results-based marketing in the digital world.
Measurable marketing and ROI is the name of the game.
There are lots
of average digital marketing agencies in Nigeria right now. Starting your own
digital marketing agency does not require much capital all that is needed is
the digital skills and experience to drive result for your customers.
10. Drop Shipping
This is a form
of business that you can start with a very low capital. What you need is your
laptop or smartphone, internet data, and your social media platforms e.g.
Facebook, Twitter, Snapchat etc. ( which could serve as your online shop)
This is a
lucrative business idea that has made millions of naira. The secret of the
business is identifying and knowing what the people need at the particular
moment and knowing where and how to source for those items (Ali Express is a
good place to start drop shipping business in Nigeria).
Conclusion
The business
ideas shared in this post have been tested and proven lucrative in the Nigerian
market especially for small businesses. But for you to succeed in any of the
above-listed businesses, you need to have the right business strategy and
ideology to starting a successful internet business in Nigeria.
Most
especially when it comes to acquiring customers and keeping those customers
over a long period of time. You need to be able to sell yourself and your ideas
to the people that want to do business with you.
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