10 Most Profitable Small Business worth Investing in Nigeria
Now that we are winding up for 2018, there is a big question that is still left in the minds of many of us. Questions like, what are my achievements for 2018, how large do I want to expand my business horizon or how can I double my hustle for 2019? No doubts, these questions are very much alive in every youthful individual as a way of connecting with your dreams and facing the reality of life.
There are different scales of business in the world today, from small-scale, medium scale and large scale business. But this topic is going to be geared to the small-scale business.
What are Small Businesses?
In Nigeria Today, the small and micro business makes up to 74% of the entire business sector. This was as a result of a high number ofdifferent business start-up within the last decades. According to CBN, Small business are rated according to the strength of their employee ( usually1-11 employee) and their asset base of (between 5million – 500million).
But, enough of the stats. What are some of the small business that can help us kick start in2019.
1 Delivery Services; In the world, the aspect of delivery services are currently hitting a high scale. No business is not dependant on delivery services. Industry and companies find it easy to contract it out to delivery services company as a wayof lessening the burden on them.
You can start small by using a fairly used car, a bike to beat down traffic in high traffic cities and even liaising with ‘keke’ riders whenever there is any delivery. The good thing about this business is that you can start small by placing your workers on a pay per delivery of goods as a way to reduce the number of full-time staff.
2.Cleaning Services; Mobile business is currently the other of the day when it comes to avoiding renting a shop or reduce other utility bills the shop might consume. Cleaning services are one easy small start-up that might not be so expensive to start.
Cheap equipment like furniture polish, glass cleaner, multipurpose cleaner, disinfectant, degreaser, floor cleaner, sanitizers, and de-scaler are enough to start with. If you want to go trendier and step up your hustle, getting a vacuum cleaner will put you on the right path. Starting a cleaning service might look funny but easy to start and very cheap.
Most times it requires some few basic cleaning skills. So starting a branded cleaning service can put you on the right part for 2019.
3.Fishery Business; Agriculture has taken a different dimension in recent times. The fisherybusiness is one the cheapest ago-business to start with a few technicalities. You can start with as little as #50,000 to place it as a test-run project.
Test-run projects aremeant to be a learning period when you will understand the technicalities involved in their feeding pattern, theirpond maintenace, and their treatment technicalities in case of any disease attack. All you need is a stable water supply, a pond system, and their daily feed.
4.Consulting Services;People will always ask for knowledge or seek help whenever they need assistance. Individuals with great skill sets and experience in different fields like I.T, Operation consulting, financial advisory, Human Resource, Risk and Compliance, and business consulting can be avalued asset to different businesses.
There are hundreds of organisation seeking the services of consultants in the afformentioned areas. So starting a journey as a consultant might not be too late.
5.Digital Marketing Services; The world of digital is currently taking the world by storm and companies generally are embracing this opportunity. Companies and organization are currently integrating such services to meet the demands of the online market.
Starting a digital marketing service is a very cheap business to kick-start. It requires just a few online tools like website, social media accounts to tell the world what you do. Most individuals normally start from freelance services before starting on a big scale.
6.Exportation business; Nigeria has a variety of export products that is highly valued in the export commodity market. These products come as foreign exchange to individual engage in such business. Products like cocoa, ginger, dried kola nut, groundnut, Avocado Pea, Guava Leaves, pearl millet and a wide variety of products are highly valued oversees from different countries.
Starting an export business involves; registering your business in CAC, finding products to export, Sourcing for foreign buyers, finding suppliers, and catering for logistics. The process might seem difficult, but the beauty about this business is that you can start with an initial investment of #50,000 aside your registration of your business name.
7.Graphic Design Business; The world is gradually tilting into tech and online content. Within the last decade, there has been tremendous growth in graphic design business for both small scale and large scale industries. People now fancy the use of graphics as a tool in communication. Graphic designs business is one of the cheapest business to start. It only requires you knowing the skills involved and you are good to go.
Nowadays we have a wide variety of online teaching aids and tools to help you kick start. Adobe tools like adobe illustrator, adobe after effects, and Adode 3D are one of the most trendy design tools that can facilitate your learning approach before starting your own Graphics design
8.E-Commerce Business; There is no excuse for not starting your business in 2019. E-commerce has been ringing a bell on a daily basis while some people still think what is it about. E-commerceis the buying and selling of goods online.
The wind has blown towards us here in Nigeria to appreciate the benefits of E-commerce not only to be a buyer but also to be a seller. Owning an online shop has been made so easy from a hand full of E-commerce site like Aliexpress, Shopify, Jumia and host of other website.
These site allow you to either promote their products or createyour store in their site. You can imagine the thousands of daily visitors trooping their site. Juicy right?
9.Content Writing; Writing had taken a different dimension since when the internet became a useful tool for business. Every industry requires a story for online content marketing. Starting this business requires you first understanding the different writing types from blog writing, article writing, copywriter, research writing, technical writing, newsletter, white papers and the list becomes endless.
This writing types involves you turning the complex subject into simpler content every online reader can relate with. You can start by registering as a freelancer on any online freelance sites to build your portfolio and grow your business from scratch.
10.Catering Business; Some person might say starting a catering business is a too little expensive. But the bitter truth is that it’s not. Catering business on its own has so many areas, from Wedding Services Catering, Corporate Catering, Cocktail Reception, Buffet Catering, Bento Catering.
So before starting your catering business, You should gain some little experience and exposure. For this helps you to prepare for the task ahead. You can also decide to choose a suitable working space or use your home if its very convenient.
You can decide to do home delivery service or company services depending on your desired area you want to cover. When you start, be free to ask customers to give you review. For this helps to build your brand and sustains trust within your business.