The Importance of small businesses and services on the Nigerian economy and the survival of her citizens cannot be overestimated.
This article will help you identify some small businesses that you can establish ,whether you have a job and want to add a side hustle to increase your income or you are seeking a form of self employment, this article will help you with business ideas and guidance for starting a small business
if you prefer to learn a handwork , we have compiled a list of 150 lucrative skills you can learn in Nigeria
Small businesses you can start with a small amount of money less than 10 thousand naira in Nigeria.
1. Sell movie and music DVDs and CD:
This business does not require any special skill, what you will need to do is to buy in bulk at a wholesale price then visit homes,shops and offices to market your goods. When you raise enough cash, you can rent a shop and expand.
2. Hairdressing :
This is a very lucrative opportunity in Nigeria and everyday the demand for it will continue to grow. whether you are a male or female, this handwork is not reserved for a particular gender.
All it requires is for you to get the needed skills and deliver excellent service to your customers and you will make good money.
If you have the skill already, you may look for a good spot at your house or somewhere that you will not be charged for a start. Your first customer is one of your major advertisement. If you do a perfect job and at a cheaper price, she will refer friends and family to you. You can even start with home service.
If you don’t have the skill already you may need to attach yourself to an already established hairdresser and learn from the person,the person may or may not ask you to pay him or her but it depends on who you meet. Negotiate a price within your means and start learning. If you learn fast you may recover the fee before the end of your stay with your trainer.
3. Cold water and drinks :
To start this business requires containers for holding the drinks and that ice block. You can buy drink chests or food coolers for this purpose or simply use any container large enough to suite your startup needs.
Buy fruit juices of assorted brands and soft drinks. Get bag of satchet water and can water and you are good to go. Once you arrange it in your container,you add you ice blocks judiciously and that’s it.
You can seek for an occupied shop and beg or negotiate for attachment or you may use your room or find a convenient corner where you won’t be charged (much).I will assume that you read the introductory part where we retriated the importance of considering location in every startup.
4. Pop corn frying :
This business is booming in Nigeria. Both the rich and the poor buys and enjoys pop corn so the market for the product is very large and promising.
Read the how to make pop corn tutorial, you can even watch videos on YouTube-[How to make pop corn]if you don’t have the skill already.
The equipment needed does not cost much and you can get your corn at any nearby market. Find an open and populated area and start making your money. yes it is that simple.
But you must make yours exceptional in order to outsell other multitudes already in the business, adding the right amount of flavors like milk and sugar and the packaging is a big plus.
5. Male and female under wears:
This business thrives very well in school areas, be it secondary or tertiary institution. You can also make sales in other places as well.
Just purchase these goods in bulk at wholesale price and visit students lodges and hostels. you can also visit home apartments. You daily income will surely encourage you to push further.
6. Snacks Business:
Buns, sausage, meat pies, Bread, biscuits etc are products whort selling. Students, traveller, workers, labourers and many others mostly goes for these easy fast snacks to quench hunger when real food is far fetched or just for the want of it.
If you can make the snack yourself, it will mean a great revenue amount but if you can’t you can buy in bulk from those making these snacks at subsidized rate and sale it retail at a higher price. you can add drinks to go with the snacks.
7. Female bum shorts:
if you if you take cheap bum shorts to a high institution area, students lodges and hostels and even areas where young ladies reside.
You are going to make huge sales. Ladies are always buying new clothes even though they have much. it is just never enough for them and you can tap into that opportunity and make a decent living from it.
Visit the wholesalers at big markets ,buy in bulk and start selling at your own price. Fairly used ones are cheaper and sells faster, so I recommend you start with them.
8. Roasted yam, plantain and beans:
This business is another yet to be fully tapped opportunity out there. People seek this delicacy everyday and I am yet to see anybody that is will to take it to the next level.
Even wealthy people either sends their wards down to get some for them or they drive do to buy it themselves, this attraction to the delicacy may be because of the process taken to prepare it which most people cannot do in their homes.
You need charcoal and whatever metallic containers you will use to burn it, then you get yam tubers, ripe and unripe plantains, beans, pots, plates and spoon for serving, basins,palm oil and ingredients to prepare the sauce. You may even add fried fish to your merchandise.
9. Recharge card sales:
Many would argue that the returns that comes from this business isn’t always much however it is whort venturing into if you have a reasonable market.
The amount of money you make depends on the speed of your sales and your self discipline because personal use of a single recharge voucher may affect your revenue adversely. if you already have something doing you may do this as an additional hustle.
10. Zobo and soya milk making :
This product is on a high demand, as lowly as some may perceive it ,it is a very lucrative business patronized by the rich and poor, I’ve see both the cans of zobo drink and soya milk in the refrigerator of some wealthy men.
They told that they love it because it is devoid dangerous chemicals used in other canned drinks and I agree with them. You can learn from people already into it at a fee or for free then you purchase the ingredients and few tools and start producing your own. You may modify your own packaging to improve the aesthetics.
Retail by yourself or supplying to retailers. On the long run, some of your loyal customers that may demand home and bulk delivery.
Or You can check out this link for 200 business ideas you can start in Nigeria
- 12 SMALL BUSINESSES AND SERVICES A STUDENT CAN START IN NIGERIA
- 13 Easy,Lucrative Small businesses you can Start during NYSC service year.
- 200 business ideas in Nigeria and other parts of Africa