Top 12 Most Lucrative Businesses To Do In Nigeria With Little Capital
There are so many businesses to do in Nigeria as a start-up. Many of them need very heavy capital to begin, while the rest don’t.
For instance, you might want to go into a film production business. Something like that will come with a lot of commitments, especially financially.
You will invest in a good digital camera and videoing tools and software. Advertising your business will also cost you a lot, and you are not even sure of making back the your capital in the next 12 months.
As a beginner, this is not something you need. You should go for a business that will bring you back the investment in a little time, and you move on.
12 Untapped Businesses In Nigeria That You Can Start With Little Or No Capital
There are so many businesses you can venture into as a Nigerian.
Some need very hefty capitals, while the rest don’t.
We’d be seeing 12 amazing businesses you can venture into as a Nigerian without having to break your neck.
Making and selling of snacks
Making and selling of snacks is probably one of the best daily income businesses in Nigeria. You can be making as much as ₦30,000 in profits daily baking and selling snacks.
It is not easy, as well! How did I know? I am a nutritionist, and my IT was in a catering school.
The work is not for lazy people like us… Lol! That was why we dumped it for blogging. If you must produce and sell well, you must be awake at least 4am -5am everyday.
Bake for the day, and make sure you already know what you sell off everyday because people like it fresh.
Little Tip:- It is advisable to locate your catering shop near a well-saturated area to benefit from the free traffic.
Places like schools, churches, mosques, banks or bus tops are highly recommended locations. You can also consider baking at home and hawking around (who cares, you’re making your cool $$$).
Running a kiosk and small eatery
Aside baking, you can also run a small kiosk or eatery. It doesn’t take much to start up, a cooking gas or stove, a few pots, tables, seats, plates, spoons and other utensils.
If you have good electricity, you can go for a good electric cooker. With time you can include other things like a bread toaster and refrigerator for selling cold drinks.
If you site your shop somewhere near a business area, bank or any other place working class people come around regularly, you’ll be sure of making good money.
Running a provision store
If you have a starting capital of at least ₦150,000, you can start a provision store.
Renting a small shop in a a good location shouldn’t take you more than ₦40,000 a year, then you stock it with ₦50,000.
The remaining ₦60,000 will be used to purchase things necessary for running the shop such as seats, tables and hangers.
With time you can go for a generator, refrigerators and any other things that you need.
If you want to know more about starting a provision store, please refer to this full guide on our sister website.
Managing a bar
A bar is another SME you can invest into and begin to make good money monthly.
All you need to do is rent a good shop, paint and pimp it to standards, then you can begin your business.
It will make more sense if you have a television with an active GoTV, DSTV or any other providers’ subscription. You should not miss out on any football matches since you will be expecting plenty male customers, and check out their interests on what you’ll be showing.
You can do that by asking your first few customers of the day what they would want to watch.
Not that we’ve seen the offline businesses you can begin, we will be going online.
They are my favourite because you can be running multiple internet based businesses at a time, and none will be lacking.
Some of them include:
It involves making money online by telling people about other people’s businesses. Basically put, affiliate marketing is a way of making money by referring customers to sellers of products and services.
When you refer them, you earn commissions and some of the companies have minimum payouts.
You can check out the top 10 most lucrative affiliate marketing programs for Nigerians.
The dropshipping business is another huge oil mill. If you are looking for lucrative online businesses to do in Nigeria, then you shouldn’t overlook this.
It involves making money online from selling what you do not have.
Take for instance, you can spot some wrist watches for sale on Aliexpress and they are very affordable, say $15.
You pick up their photos and take to your own website, and advertise for $30.
When people place their orders, you go to the store, place your order and enter their shipping address.
To make sure you don’t get stuck in the middle, make a lot of researches before diving into the business.
Blogging is my favourite way of making money online, at least till I find something better.
It involves running and monetising a media website, and there are a lot of niches you can write on.
Some of them include business, entertainment, news, health, beauty, fashion and sports. There are over 101 ways of monetising your blog, and you can see a few of them on this page.
If you have access to a digital camera, or a mobile phone with 4k resolution, you can begin to make videos and post online.
Even if you don’t have access to a video camera, you can make whiteboard and explainer videos, or use other software.
It is advisable you make use of your voice, as YouTube policy doesn’t support the usage of machine voices now, as well as slideshows.
If you want to learn the secrets of vlogging, including over 7 ways of monetizing your channel, please refer to this full guide on YouTubing as a beginner.
Social Media Marketing
Our list of businesses to do in Nigeria will not be complete without including internet based businesses, and this is another huge one.
You can make money from being a social media influencer in Nigeria.
All you need to do is create an Instagram page, grow it with consistent and amazing contents and advertise.
When you get a good number of followers, you can now begin to make good money from advertisers.
Website Creation Services
You can learn how to create websites and make good money from it as a Nigerian.
For regular websites on WordPress, you can charge ₦25,000 to ₦30,000.
The cost of creating it shouldn’t take more than ₦16,000 and the rest is your profit. You can learn some programming languages so you will be able to create more advanced websites, if you need a full career in the industry.
Otherwise, it is a good side hustle to combine with any other things you’re doing online.
Freelance Writing Services
If you are a good writer, you can be making ₦150,000+ monthly as a freelance writer.
There are so many website you can sign up to get writing jobs for yourself. In fact, I was making more than $20 daily from clients that I was getting from Facebook, and you can read the secrets HERE.
All you need is a professional presentation of your profile, and you can start attrating clients to yourself.
Graphics designing is another good internet business.
I’m not into it currently, though I do my logos and graphics designs myself, but I have a few designer friends.
One of them charges more than ₦10,000 for normal logos, and he sometimes gets more than 5 jobs a week.
How much is your current job paying you?
There are so many businesses to do in Nigeria, and they are all very lucrative in their own unique ways.
I am a fan of internet businesses, but not everyone can enjoy the ‘boring’ life of having to sit in front of a PC 24/7.
Whatever you want to do, take it as serious as you would do if your boss was watching, and watch the money rolling in.
Thanks a lot for reading along.
Don’t forget to drop us a comment and share to your friends.