Top 20 Lucrative Business Ideas in Nigeria

There are many small businesses that you can start with little capital. They are easy and require no permits or licensing. Before starting any business you need to learn the trade, secure funding and supplies. Other considerations are staffing, location, utilities and marketing.

Profitable Businesses to Start with Little Cash

1. Egg Supply Business

You can start an egg supply business relatively easily. You don’t need huge capital and the business is practicable part time or full time.

The business can be done alongside your regular work. You don’t need permit or license to sell eggs.

To start find a poultry farm in your area. Then contact grocery/provision store owners in your locality. The only challenge is transportation and storage. If you have funds you can rent a shop or sell directly to consumers, restaurant owners and fast food outlets

2. Start a Plantain Farm

Plantain farming requires landed space and good soil composition. They take time to grow but produce new sprouts once the parent plant is harvested. Plantain is easy to sell, in high demand and attracts good price in the open market.

3. Start a Poultry Farm

You can start a poultry farm at your backyard. All you need to do is determine the type of poultry farming you prefer. You could farm poultry for meat or egg production.

You need cages and a secure location. The major challenge is feeding, clearing of waste and medication. You might need the assistance of a vet for healthier birds.

4. Snail Farming

Snail farming does not require lots of space. They are very quiet animals and grow fast in ideal conditions.

The best type of snail to grow is the large African snail. The feeding is also simple and does not require much money. The advantage of snail farming is the practicability and premium price it attracts.

5. Become a Blogger

Blogging is slightly challenging because it takes several years to earn decent income. To start a blog you need a host provider and domain name.

Focus on a niche and post quality articles. You can monetize the blog with affiliate programs, web adverts or sell a product or service.

6. Social Media Business

Some people make use of social media to earn a good living. The top networks used by Nigerians are Facebook and Instagram.

You can upload comedy sketches, post interesting images and comments. The more engaging your social page the more followers you get. 

Leverage on your talent to get jobs offline such as standup comedy, advertisement or photo opportunities. You can also sell a product or service from your social media page.

7. Start a Fish Farm

You don’t need much space to start a fish farm. All you need is an above ground pond, fingerlings, and water source, fish food. There are different types of ponds such as block ponds, plastic ponds and dugout ponds.

8. Start a Catfish Smoking Business

A simple business to consider is catfish smoking business. The business is lucrative and easy to execute. You need a good smoker and purchase fish products from nearby farmers. Sell your products to market women and neighbors.

9. Open a Restaurant

To run a good restaurant you need to work hard work and remain focus. You need moderate funds to rent a shop, add furniture. Other provisions are purchase of kitchen equipment, raw material. The quality of your food, location and cost would determine your success or failure.

10. Sell Fast Food

Earn extra income by selling snacks commercially. You can make egg rolls, meat pie, buns, and chin-chin. Make sure you find a good location close to a school or busy street.

11. Motorcycle Transport Business

Many people don’t realize how much money Okada transporters make a day. There are a few ways to enter the bike business. You can use hire purchase, ride the bike your self or get a rider. Many Okada riders make more than N6, 000 naira daily.

12. Start a Car Wash

To start a car wash you need to secure a popular location. The car wash should be in an area with heavy vehicular traffic. The tools you need are basic, however you need a good source of water. Professional car wash businesses make good money offering their service.

13. Start a Dry Cleaning Center

To run a dry cleaning outfit you need a washing machine, pressing iron and nylon bags. You also need a secure location to dry the cloths. Make sure you find a good location and dependable staff.

14. Open a Grocery Store

Everywhere you look there is a grocery store. This is because the business format is simple and straightforward. Rent a shop, get supplies and start the business as simple as A, B, C.

15. Transport Business

The only way to get into the transport business is by owning a bus or car. There are many options available to a car owner. You can paint the car taxi and join a taxi park in your area or become an Uber cab driver.

16. Become a Hairdresser

There are many hairdressers in my locality.  This is because the business requires very basic skills and equipment. To succeed offer quality service and good customer relations and argument your income by sell hair care products to your customers.

17. Sell Used Cloths

The used cloths business has many advantages. You can make thrice your investment easily. The only challenge is finding customers for your cloths. The used cloths seller, buy them in bales and sells retail.

18. Roasting Business

There is a huge selection of things to roast. You can roast corn, yam or plantain. You can add potatoes, boiled the yam and roasted fish.

Choose the one that appeals to you and purchase a locally fabricated grill. You can start the business with less than N10, 000 naira.

19. Public Toilet Business

Operating a public toilet might seem nasty but very profitable. You have very little overhead except occasional maintenance. A public toilet in a good location can fetch N5000+ naira daily.

20. Suya Business  

Although Suya meat roasting is predominantly done by northerners you can start your own business. Make sure your Suya is nice and tasty. You need to find a deal spot to get good patronage. Startup is very small and you don’t need a permit or license.

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