You will need to decide if you want to deal in already assembled hampers, or if you want to be the one assembling it. ... Also, don’t be afraid to get some help for your own problems, too. In Nigeria, there are seasons when the hamper trade is really an all-time high. These ideas are very lucrative and if you know how to grow your business, you will be surprised at how big your company will become. 12. You will need a sewing experience first. Therefore, you may like to look into this profitable dry cleaning business idea in Nigeria. The screen printing business is some kind of business that anyone who wishes to make good money from should look up to. You are not just there to learn the skill but to learn the business aspect of it too. You can garner the phone repair skills so that you can delve into the huge market that is in existence. Another alternative to solving the unemployment issue in Nigeria is through self-discovery. You can get lots of clients and few professionals to meet their requirements. If you need inspiration in coming up with your own unique, innovative business ideas in 2020, learn from these clever, game-changing companies and think about what problems you can solve. If you research into the startup stories of many big companies today, you would discover that many of them started from scratch faced with several challenges. The consignment business dates back from time immemorial. If you have all the required skills, then having a business of website design can be the best option for you. The areas where coaches are earning a big sum of money in Nigeria are in the areas of business coaching, personal finance, investing, relationship, marriage, weight loss, and branding. This means that you are not only just a chicken farmer but an entrepreneur as well. Another lucrative opportunity in doing business in Nigeria is Forex exchanging. Why is this important? If you are knowledgeable in a particular field of study, you can become a coach. Nigerians are people who love to eat more homemade foods than the fast foods, unlike their foreign counterparts. Today’s health care offers more forms of surgeries, interventions, and elective procedures–often leaving patients needing temporary home nursing care. These days more than ever before in the world, more and more people are conscious of eradicating things that might bring ill health to them. Ingenie has taken a rather clever approach to solve this problem. In fact there are people who are addicted to it. You can specialize in the bakery business and be popularly known for it. If you have ever had a heart to heart  business talk with a business expert, chances are that you may have been intimated on the  point that being wealthy isn’t about  working and earning wages at the end of the week or month. Jewelry Line Business You would also need to create an inventory system for your materials so that you could be alerted when they run low. However, if you do have a passion then you will excel in this trade. Starting this business you would need to define your target market. Retailing pure water is one low-cost business to start with 10000 Naira. If you know you have the knack for gifts, then you can look into starting a hamper business. You need to know all these skills to be successful in this business. Are you looking for lucrative and profitable business ideas in Nigeria’s ideas? The solar panel repair business isn’t for everyone. If you have love trading from the beginning, you can open a mini supermarket in your location or any good location of your choice and begin your business. Starting a poultry farm, fish pond, crop farming might appear very simple and easy to you but venturing into it as a business is something different. This is why those who are in the business have continued to make good money. I have two colleagues who are constantly making millions from this profitable enterprise. There will always be a ceremony and you know people don’t buy this equipment, they always rent.eval(ez_write_tag([[468,60],'startupback_com-narrow-sky-1','ezslot_21',156,'0','0'])); If you want to check if this business is productive, you can ask people that already into the business for them to tell themselves. Since Nigeria is often faced with difficulties in providing housing to her teeming population, the value of land and housing properties continues increasing in value. For an entrepreneur looking to get into the home nursing market, establishing the business is usually more challenging than finding a customer base. Developing business ideas that solve real problems. 2. If you are interested in going into the internet radio business, then you should be conversant with the fact that it is a different kettle of fish from the traditional radio business – especially as the source for your internet radio business is a computer. Before you start out it is vital garner all the necessary information that you will need along the line. In my previous posts, I have highlighted how to start a profitable small business in Nigeria. People all over the world love to eat baked things. What some people do is buy a sound truck and contract it out to a haulage and logistics company for weekly or monthly returns. Sales of Okrika wears is a lucrative business idea in Nigeria with small capital. If you are thinking of starting a business that can guarantee you steady income, then one of your options is to consider starting pest control business. Thanks for the update At the same time before you take the risk, do your business survey and get consultancy services. All you need to do is have zeal to want to pursue the business. Your email address will not be published. If YES, here are some top-notch and comfortable business ideas and investment opportunities you can capitalize on and make massive profits in just a very little period of its establishment. While multiple business ideas may strike you on a daily basis, only few of them will be profitable in the long run based on market research and feasibility study conducted. Pizzas can make a pleasant meal. Some people in Nigeria just decide that they want to run their business as a “sole proprietor,” while others choose to organize a single owner limited liability company (L.L.C.). Raw foodstuff store is a profitable business that can cash in good returns on your investment. The services they render is second to none and is indispensable. Although entrepreneurs couldn’t help but complain about the heavy taxes and other levies they are subjected to pay, but yet, it is on the contrary better than running a business in other parts of the world. Here is all it takes to get contracts for your security company. This means that you will be required to go and garner some good skills in this light. ... or stock exchange, you are certain of making great riches when doing business in Nigeria. This business model is called “crowdfarming”, and it’s a trend that could totally transform the face of agribusiness in Africa. One of the good things about this business is that you can acquire the skills that is involved from the scratch and then expand on what you have learnt. Piggery, goat farming, rabbit farming, snail farming, cattle farming, grasscutter farming are other areas of this lucrative business idea you can invest in.eval(ez_write_tag([[300,250],'startupback_com-leader-1','ezslot_11',149,'0','0'])); With currently over five million unemployed youth and the teeming population of new graduates joining them year in year out, most companies have resorted to contracting out their recruitment process. If you are looking to start this business, then you have to be sure that you have ample time to learn the trade. Men take advantage of their weaknesses to perpetrate evil. However, it can be a very risky endeavor to step out on your own and jump into a volatile market. The gap is very wide. Online publication helps people develop writing skills. People move from one spot to another to make ends meet. Copyright © 2021 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. I have come across recently many small businesses that you can do as a full-time or part-time business and that will be a great new source of income for you and your family. Victims of domestic violence live a traumatized life. Another powerful item on this list of hot business ideas is cosmetics and fashion accessories production. Mentoring is important so that you can start out well. This is because of the need to have cars fixed. If you love beauty, then going into the cosmetics business is one of your bet. This implies that a restaurant business in Nigeria doesn’t run out of patronage. The truth is there are many business opportunities available for investment. Transport Business; The population in Nigeria is huge and a lot of people are looking for a good living. Starting a small chops packaging business is a lucrative business idea in Nigeria. Violence against women and children is on the rise. The art of tailoring have been in existence from time immemorial. Steps like looking for a commercial location that will aid people to easily patronize your business, registering, and doing some paperwork to obtain a license from NAFDAC so that you wouldn’t be disturbed by the government or its agency. Here are however some lucrative and profitable business ideas in Nigeria you can consider; This is an interesting business idea, this business had for a long time always been on the go. Despite the hardship, high dollar to the naira exchange rate, and economy crunch that looms Nigeria, people are keeping it real and couldn’t just help but to look good. This is one of the reasons why you can start a motherless kid’s home. One of the things that must be done before even commencing this type of business is learning all that is required to be known in the auto repairs business. Before you begin to look at starting operation, you have to be sure that someone who is already doing well in the business is able to mentor you. According to the IMF’s recent World Economic Outlook, six of the ten fastest-growing economies in the world are in Africa.And by 2050, the continent’s economy could quadruple its current size and be worth up to $29 trillion. You will need to go to a school that offers baking services if need be. Taking everything into account, this is my layout of the regional difficulties you will confront when you begin a business in Nigeria. Here are a few of the most common of those: • The stress of managing employees, you never have to worry about meeting payroll commitments. Transportation Challenges Business ideas in Nigeria abound, and among them, is this interesting one that you can do anywhere. Do you need a sample business proposal for a viable small scale business in this economic recession? This is one area of trade that sure can guarantee good returns on your investment. Do you want to start a lucrative business with small capital? People around the globe enjoy eating baked things which Nigerians are no exception. There will always be the need to make a living even after giving birth. You can open a hobby center where you can be offering different courses like a ballet dance, music class, drama, making of crafts, etc. What you need to start this business is just to get a good location for the business, good washing equipment, car wash detergent, and manpower to make work faster so customers won’t be waiting for you. This is because of the level of profit that can be acquired in this trade. A business plan will help you know what and what to do per time. This is one of the fastest growing businesses in Nigeria. The possibility of making it is so broad because most car owners don’t have the time and energy to wash their cars. Every day, many Nigerians search for small investment opportunities to start with no money. It is a two-way thing; you can choose to become a certified coach so that you can host hosting paid seminars where you can be issuing a certificate to the participant or you can just choose to coach people in your home or office. The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. This is due to the recent ban by the government on the importation of frozen fish and poultry products consequently making supply unable to meet the demand. You can seize this opportunity and be the problem solver to this by venturing into a haulage and logistics and/or transport business. This is also a major cause of social problems in Nigeria. It requires research and planning particularly in marketing and business management. If you have been looking to start a business that is agriculture related, then you may want to consider starting an aquaponics business. A never-ending list of business ideas and problems to solve. This compilation is a list of small-scale businesses in Nigeria that will help stimulate your entrepreneurial spirit. Do you have little money but no feasible business idea to start with? They are: Solutions To Social Problems In Nigeria. You can go into these hot business ideas during a recession by producing pure water and marketing it by setting up a manufacturing plant.eval(ez_write_tag([[300,250],'startupback_com-leader-2','ezslot_16',152,'0','0'])); The major challenge is getting your marketing right, reducing the cost of power, and ensuring that quality does not diminish over time. How Do you know which investment to choose in doing business in Nigeria? If YES, here are 50 best small scale business ideas & investment opportunities in Nigeria. This is one of the best businesses to do in Nigeria right noweval(ez_write_tag([[468,60],'startupback_com-leader-4','ezslot_18',157,'0','0'])); One best business idea is in the food business. Do you know there are good business ideas for students in Nigeria for secondary and university levels? Meet with those that are making it in the bakery industry for other things you will require along the line. Here are some practical tips when you are attempting to start doing business in Nigeria. You should first go and learn from a successful tailor. Going further, let’s take quick points on some common problems of start-ups and their preferred solutions. Just read on as I take you through some of the good businesses to get into and investment opportunities available to us as well as their peculiar challenges. Between one to two years of running your business, you will start making your money as you begin to build a lasting relationship with existing and new customers. The remote trade business includes exchanging foreign currency. If you are arts inclines and are looking for an arts related business to start, then you can look into the graphics design business. One of the good things about this trade is the fact that you will beautify people for a fee. Even though Nigeria is considered the African country that is developing quite fast, it still does not mean that our native land is entirely devoid of all the problems. The downside includes not being able to work outdoors in inclement weather and the limitations of having to travel with all necessary tools and supplies, including large quantities of water. This is one of the small business ideas, which has really worked well for many. Some Home Business Ideas You Can Try During Coronavirus (COVID-19) by Olufisayo March 20, 2020. written by Olufisayo March 20, 2020 7644 views .