TOP BUSINESS IDEAS IN NIGERIA
Business ideas are infinite. The question is are we really ready to do what it takes and start up something for ourselves.
For good reasons, a large number of people in Nigeria are beginning to consider starting home based businesses and are in need of business ideas. It is very possible for an average man to have two or three careers in a life time. Also, those preparing to retire are also thinking of what to do next and with the present economy of Nigeria, quite a large of people are looking for a backup business that won’t need much capital or labor force but guarantees profit.
When deciding on a business idea, let factors like your passion and expertise guide you, also consider how difficult and expensive it will be to launch this side business. In most cases, business ideas should be cheap to start and also, make sure that your business idea is legal. I suggest setting up a company to help protect you personally. It only takes little capital, effort and a little risk. But we must not forget that even the smallest business will fail if it doesn’t have the proper business plan and passion to go with it.
There are many directions you can take this business. If you want to work during hours when no one else does, you can focus on office clients. You can focus on retail businesses and keep your customers clumped into one or two areas. Restaurants and complexes are in great need of daily thorough cleaning and can be a great source of steady clients. So, House-cleaning might interest you. Many times with cleaning services you don’t have to spend lots of money on advertising or marketing because your customers will come by word of mouth.
One of the first things you need to do is visit every potential event location with which you plan to work. Work with the marketing manager to tour each site and learn what is available at each location. Start a database that will allow you to sort venues by varying features, the number of people each site holds, if there is AV equipment available on site, will you need to arrange for rental chairs, etc. Then when you are beginning to plan an event with a client, you can find out what the key parameters are for the event and easily pull up the three or four sites that meet the basic criteria. And engagement parties, etc.
Market your talents to building contractors. People purchasing new homes can often be overwhelmed with the choices and possibilities in home decorating. Design some questionnaires for each major element and each major room in the house. Find out how the homeowner will use the home; are there children? Pets? Does the woman of the house wear high heels? Do the home’s residents neglect to remove shoes? Each room will be used how? Where might task lighting and ambient lighting be most appropriate?
Making money as a photographer can be done in a number of different ways. You can specialize in one area, the most common being weddings. There are niches you can explore for photography: portraits of people and their pets, families, and homes; photographs of holiday events, birthday parties or Christmas cards; the possibilities are endless.
FREELANCE GRAPHIC DESIGNER
Despite the proliferation of the internet, print media is here to stay for the foreseeable future! Fliers, newsletters, magazines, information sheets, letters and advertisements are just a few of the types of print media that businesses hire freelancers to create for them. Websites and online advertising need graphic design services as well. Even if your expertise is only in design, offer the works for potential clients, including the editorial creation and the printing and even mailing of the final piece. You can line up regular freelancers for those parts of the job you can’t do.
Perhaps you love children. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in Nigeria. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a home-based childcare business can get off and running immediately.
Hair-styling is a popular business that can be quite lucrative. Generally a home based hairstylist business is likely to be started by someone who has already has a cosmetology career and wants a change. If you already have your cosmetology training and license, and loads of experience under your belt working in a hair-styling salon, you probably have a following that will follow you right home without any hesitation.
You want to stick to the instrument(s) you know, but you may be a skilled enough musician to offer lessons on several different instruments, or those in a particular class, e.g., stringed or woodwind. You can decide to take on individuals or classes, depending on space and availability of instruments. Public schools are continually reducing their commitment to art and music classes for students, so you can try to work with the public school system to supplement their efforts in those areas.
Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design is it wild and contemporary, meaning brilliant colours and fun graphics? Or will more classic colours like black, navy blue and maroon is more appropriate?
Do you have items lurking around your household that you could sell on eBay? Figure out your asking price and decide whether to auction it or put it in your eBay store. Then decide if you want a minimum bid and how long you want the auction to last. You will want to establish a PayPal account to use for transactions. The eBay website provides all the information you need to know to get up and running with an eBay business.
Study the main types of software that system users will want–word processing, photo manipulation software, mail merge, spread sheet, design and especially security software. Investigate all the components–monitor types in all their varieties; keyboards, from wired to ergonomic to wireless; mouse types; as well as peripheral components like printers and scanners. Become completely familiar with all the ISPs (internet service providers) available in the market area you plan to cover. Establish yourself as the guru who can meet the needs of the personal computer user, the small business or a larger corporation.
If you don’t already have work experience with importing and/or exporting, you will have a longer learning curve. Learning the basics is a good start. And also, host educational sessions to teach others what they need to know to get started in import/export. That alone would probably gain you your first couple of clients. If you keep going with educational seminars and expand your reach to outside your immediate region, you could probably develop a sufficient
Lots of people who are moving want to hire someone to do the heavy lifting for them. You can leave the large-scale, long-distance moving to the big moving companies. Your work can be the local, moving-across-town or to the town-next-door jobs. These are the ones that people start off thinking perhaps they could do themselves, and it will be your job to convince them otherwise. Your signs around town will tempt them to let you take care of that part of the move, while they are busy taking care of those other 500 items on their list.
If your mastery of another language is good enough to have the grammar and spelling down, translating is a great side business to set up for yourself and can be done remotely. Flexjobs has literally hundreds of freelance, remote translator jobs available right now.
Take the time to develop your skills at either making your own music, or becoming a pro at mixing, and your side business of dj-ing local events could turn into a much bigger business.
CLOTHING ALTERATIONS AND TAILORING
Fashion, style, and grooming continue to be a lucrative side business. If you know how to mend clothes, then you have a growing market of budget-conscious and/or personalization-obsessed customers. Entrepreneur says you need around N20, 000 to start a decent business in this niche but there’s no harm in starting smaller and growing from there, as long as you can make magic with needle and thread.
It’s funny how much baking can relate to making money. Start bringing in some side income by kneading flour, mastering the oven, and appeasing everyone’s sweet tooth. While some experts have already turned baking into their sole “bread and butter,” you need not leave your day job just yet. Depending on your experience, you can start by doing something simple on the side like Grandma’s nostalgic cookies before heading on to offer exquisite artisanal fare.
INVESTING OTHERS’ MONEY
Incidentally, helping others grow their wealth is also a good way to grow your own financial worth on the side. If you have stock market and finance credentials, then you can earn freelance commissions or consulting fees advising clients on how to get the best returns for their investments.
INVESTING YOUR MONEY
If you keep your money hidden in the attic or earning close to nothing in a savings account, you might want to consider putting it to better use through smart investing. Sure, there are plenty dangers to look out for, but most personal finance experts will advise you to start learning about the stock market if you want to grow your wealth.
ACCOUNTING AND BOOKKEEPING
Many small companies and start-ups now outsource jobs that aren’t part of their core business (such as HR, admin, and accounting). Because companies always need to track their cash flow, freelance accountants and bookkeepers can really benefit from the increasing demand for part-time help.
MOBILE LAUNDRY SERVICE
We all wear clothes (at least some of the time). Which, of course, makes the business of cleaning soiled laundry a hit? In fact, the self-service Laundromat industry in the US is worth more than $3 billion, with many related businesses such as a mobile app laundry service, a real rolling mobile laundry service, and home laundry pickup & delivery services springing up each year. Here’s one way you can cash in on the trend.
HOME-BASED MAKEUP SERVICES
If you have a talent for helping people look their best, and know how to mesmerize with eyeliners and turn heads with lipsticks, consider using your beauty skills to create a profitable side business. For under N20, 000, you can start your own make-up artist business.
Here are some of the editorial services you can provide from the quiet of your own home:
Copy-editing. This is where fact checking takes place, and where grammatical, stylistic and typographical errors are caught.
Proofreading. This is the last stop for a “finished” piece. The proof-reader makes sure the copyediting changes have been properly made and no new errors are created in the process.
Indexing. There are indexing courses available and you can get indexing software.
Developmental editing. A developmental editor works with a manuscript on big-picture things like organization and content issues.