SMALL AND MEDIUM SCALE BUSINESS IDEAS IN NIGERIA

Business ideas in Nigeria is not in short supply but the ability of the people of Nigeria to identify and harness the abundant business opportunities in the country is the main issue. I feel overwhelmed each time I walk down the streets of Lagos state and see enormous business ideas that are capable of making anybody super rich without much trouble. The main reason why these business ideas will flourish beyond our wildest imagination is the fact that Nigeria is full of people hunger for products and services.

The main reason of writing this article is to give entrepreneurs that are willing to venture into business for themselves that spark that is needed to motivate them into taken action in order to realise their hitherto hidden talents.

TWENTY-FIVE (25) BUSINESSES THAT YOU CAN START IN NIGERIA AND MAKE GOOD PROFITS

CINEMA

The passion for going to see movies has been rekindled in Nigeria. The people of Nigeria are beginning to appreciate going to the movies once again. Adequate value is being attached to bonding together through outing. And the place that readily comes to mind now in Nigeria is going to the cinema.

CLEANING SERVICES

Cleaning services providers make cool and easy money from both corporate and individual clients. Nobody likes to live in a dirty and un-kept environment. You don’t need to do much in this business, all you need to do is get the necessary equipment, put up a proposal and that is it. I know of a lady who manufactures rat-killer and is making millions from it today simply by supplying the product to banks. Packaging is the key to marketing of cleaning services. You can package window cleaning services and sell it to companies. Another form of cleaning service that you can provide is club and restaurant cleaning. Many clubs and restaurants do not which to employ fulltime cleaners and would be more than happy to have a cleaning company do that for them.

CONSULTING

Getting into consulting in Nigeria is easy and rewarding if you can understand the rule of consulting. For you to register a consulting business, you need a minimum of Masters Degree or a professional qualification. Your area of specialization does not matter; people need guidance in your area of specialty.

EVENT MANAGEMENT

Managing events like wedding, naming ceremonies, house warming, funeral, etc is not an easy task. Hence, many Nigerians now outsource the hectic parts of these occasions to someone they feel is an expert in these fields. If you can pull resources together, you will make fortune out of events management.

EXPORTATION

There are very few people in the business of exportation in Nigeria. This is surprising as there is great chance of success in exporting raw materials to other countries of the world. Cassava for instance is a raw material that is in high demand outside the shores of this country as the increased interest in ethanol amongst industrialised states keep increasing.

FISH FARMING

Fish is no doubt a healthy option when it comes to eating. Except for those that are allergic to fish or those that don’t like fish naturally, fish is eaten by almost all and sundry. If you tap into this business, the odds that you will make it big time is high considering the huge human potential in Nigeria.

FOOD PROCESSING

More and more people spend most of their time outside their home these days and rely on food processors to supply them with on the go food. Even at home, semi prepared food has become the first choice of many busy and professional mums. This is why noodle businesses in Nigeria is raking in billions in pure profit.

FRANCHISE | FRANCHISING

Very few people have yet realised the hidden treasure in franchising business. Franchising is a win-win game in the sense that both the franchisee and the franchisor both smile to the bank. However, it is better to be a franchisor as it gives you more freedom to do the things that you enjoy most.

HAIR DRESSING

Looking good is always good business. As a company that is hair dressing business, you will never lack customers as even those that cannot afford a three square meal still spend money in looking good.

INFORMATION TECHNOLOGY RELATED

Nigerians have this flare for technology and information technologies. Starting up a business that will meet the needs of people in this area is not a bad business idea that you can go into depending on your expertise, experience, and qualification.

ONLINE BUSINESS

Millions of Nigerians are joining the web every day. This makes having a credible online business a goldmine that will put cool cash into your pocket. Web hosting and domain name resell for example can ensure that you always visit your bank on a regular basis. Chuckle when I see people trying to make money online with a poor business model. Online business must not necessarily be an information selling venture where amateurs copy and paste contents from others. What applies in the mortar and bricks business still apply in internet business.

You need a tested and vigorously evaluated business model. Let me for example share one of my online business models that have yielded me millions of dollars (in as much as I welcome competition, this business model will quickly fail as soon as the supply outstrips the demand, so do not copy it). I set up an e-ticket website where I sell tickets for organizations. All I did was pay a computer programmer who wrote the script for me and I consulted yellow book for the list and addresses of all businesses in my area. Bingo! A money making machine is born.

PURE WATER BUSINESS

Processing of drinkable water is a business idea that has been transform into billions of Naira industry by the stakeholders. Though this industry is relatively saturated, but, what facet of human life is not?

REAL ESTATE BUSINESS

Real estate business in Nigeria is a goldmine waiting to be tapped. When I talk of real estate, I am not talking about the touts that call them-selves ‘agents’. Real estate is a respectable business that has consistently produced people in the top 10 world’s richest people in the world.

RECHARGE CARDS

We Nigerians love making phone calls, starting a recharge card business at any level is sure of putting cool money in your pocket. Though this is a somewhat risky business, but, life itself is risky.

RECRUITMENT AGENCY

I wonder what is still holding this business back from boosting and taking the centre stage in Nigeria. Companies constantly look for ways of cutting cost. And the first place they look into in their cost cutting quest is to down size. Based on this fact, companies will readily appreciate any business proposal promising to supply their human capital need on a pay as you go basis.

RENTAL SERVICES

Renting of bridal materials is a good business that one can go into without much stress. Though this kind of business requires some capital to start up, it is still worth giving a try.

RESTAURANT

Restaurant business is one of those few businesses that cannot be seriously affected by economic recession and financial crisis.

SCHOOL

As long as baby boomers in Nigeria continue to grow, start up a school will never be a bad small and medium scale business idea.

SECURITY BUSINESS

There is no doubt that Nigerians need security more than most nations of the world. The government has failed in this aspect and any business that can fill the gap created by the lack of quality governance will surely be glad he or she did.

TAILORING

Just like hair dressing, if you can follow up with the trend, you will really benefit from this business.

TRADING

Buying and selling is one of the easiest ways of making money in Nigeria. Traders in Nigeria trade virtually everything that you can think of. In as much as this form of business does not really create much jobs in a country, it stimulates the economy to an extent and put money in your pocket.

TRAINING

There is huge market for training in Nigeria as people constantly crave for knowledge. If you can really deliver quality training, you will really smile at the end of the day.

TRANSPORTATION, HAULAGE AND LOGISTICS SERVICES

Movement of people and equipment in Nigeria is a great business to go into and make huge profits. This business is very easy to start up and run, as the cost of operation is not so high.

VIEWING CENTRES

The fan base of football supporters in Nigeria continue to grow with over 80 million people watching football every week. A good portion of these people do not like watching the football match at home for various reasons. You can start up this business and rake in thousands of Naira every week if you play your card very well.

WASTE MANAGEMENT

The list of businesses that one can do in Nigeria is inexhaustible. All you need to do is look around your environment to see what it is that people always complain about; then provide solution to it. You do not need to attend a business school for you to be able to scan your environment for business ideas.

These business ideas no matter how good they are cannot see the light of the day if they are not nurtured into becoming cash generating machines. You need to learn how to start a business in Nigeria. The exploding population of Nigeria is a strong leverage that helps boost the chance of making it in business.

You can also generate great business ideas by doing those things that you enjoy doing. I have been able to spot some great business ideas by simply watching the news. You too can become a genius in spotting fail proof business ideas if only you get the right kind of motivation and take actions that will transform your small and medium scale business ideas into money spinning machine.

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