45 Small Business Ideas To Start in Nigeria (2024)
Are you tired of working for someone else and never making enough money? Do you dream of escaping that cycle and taking charge of your destiny? Do you want to become your boss? If the answer is a resounding "yes," you are in for a treat. Let me introduce you to Tunde, an enterprising soul with a pocketful of dreams and a burning passion for financial freedom. Armed with just 200,000 Naira, he went on a quest to find small business ideas in Nigeria he could easily start and pave the way to prosperity.
Today, we share 37 small business ideas tailored for aspiring entrepreneurs like you. Whether you're keen on starting small or aiming to scale, we have curated this list with your interests and budget in mind. We have also included easy-to-follow videos and text resources to guide you every step of the way.
Join us as we explore these exciting opportunities and help you take charge of your future. Let's dive into these lucrative small business ideas and start your journey to success!
Why Should I Start a Small Business in Nigeria?
Starting a small business in Nigeria is an excellent idea because the country has over 200 million people, providing a huge market for your products or services. According to the National Bureau of Statistics, the economy is experiencing steady growth, with GDP increasing by 2.8% in Q1 2024, reaching N58.8 trillion in nominal terms. Nigeria has a strong entrepreneurial spirit, with over 37 million small businesses contributing 56% of the national GDP. This makes it an ideal environment for new businesses to thrive.
There are many great reasons to start a small business in Nigeria. Here are some other good reasons to start a small business in Nigeria:
Vast Market Potential:
Nigeria is home to over 200 million people, making it the most populous country in Africa. This large consumer base presents an immense market for small businesses to tap into. Whether you sell products or services, the large Nigerian market can help your business grow and make a lot of money.
Entrepreneurial and Innovative Culture:
Nigeria has a strong culture of entrepreneurship, where people are resilient and creative. It ranks high in global reports on entrepreneurship, showing that people there are good at coming up with new ideas and making small businesses successful. As an entrepreneur in Nigeria, you will be part of a lively community that loves new ideas and celebrates innovation.
Rapid Technology Growth:
Nigeria is experiencing a lot of progress in technology and digital innovation. Unsurprisingly, most people call our tech sector "Africa's Silicon Valley." Many tech companies, including yours truly, have seen a flurry of significant strides and investments. This tech boom offers aspiring entrepreneurs exciting opportunities to capitalize on the growing digital market. The increasing adoption of mobile technology and internet penetration has created a conducive environment for e-commerce and online businesses to flourish.
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What Small Business Ideas Can I Easily Start in Nigeria?
Explore our categorized list of small business ideas tailored to various interests and situations. Whether you are a student, a woman, or a man looking to start from home, you can easily find the section that fits your interests.
Jump to:
- Lucrative Business Ideas You Can Easily Start
- Business Ideas for Women
- Business Ideas for Men
- Small Business Ideas from Home
- Small Business Ideas with Low Startup Cost
Lucrative Business Ideas You Can Easily Start
Let us get to the top lucrative business ideas you can easily start in Nigeria.
1. Offer Catering Service
Do you love to cook? Launching a catering business may be the perfect small business idea for you. You can cook from home and cater to other local events. This is a lucrative business idea that you don't need a huge capital to start. Besides the cost of food items, you may also have to hire a few employees as you book more events. Your bill and service charge should cover these expenses.
2. Start a Palm Oil Storage Business
Leveraging the palm oil trade can unlock Nigeria's lucrative small business opportunity. Here's how to start a palm oil storage business. From February to April, when palm kernel prices dip, buy palm oil at a lower cost. Then, stow it away until July, the peak season, when demand surges. By reselling the stored palm oil during this high-demand period, you can enjoy substantial profit margins ranging from 50% to 60%. This strategic approach taps into the seasonal fluctuations of palm oil prices, allowing you to maximize your investment.
Embracing small business ideas like this is very simple. It is about understanding the market dynamics and timing your actions right. With careful planning and attention to price trends, you can create a sustainable source of income. This small business idea shows how a simple strategy and knowledge of local market patterns can bring impressive returns.
3. Transport Business
Starting a transportation business can be a great way to make money, but it needs careful planning. First, create a solid business plan, pick a catchy and relevant name, and set your prices. Choose the right business structure, like a sole proprietorship or LLC. Register your business, get an EIN, and ensure you have all the necessary licenses and insurance. Plan your finances, open business bank accounts, and secure funding through loans or grants. Build a good fleet of vehicles and hire skilled staff. Finally, promote your business with a strong marketing strategy to attract customers and grow your business.
4. Establish a Security Agency
Security is not the sole responsibility of the government. The need for excellent security services in Nigeria is on the rise. Starting a security agency in Nigeria involves several key steps. First, one must register the business with the Corporate Affairs Commission (CAC) and meet specific requirements, including a detailed business plan, proof of financial capability, and security personnel training programs. Additionally, obtaining a Private Security License from the Nigeria Security and Civil Defence Corps (NSCDC) is mandatory, necessitating fulfilling criteria such as background checks, office inspection, and submission of relevant documents. Comprehensive preparation and adherence to regulatory standards are essential for establishing a successful security guard services company in Nigeria.
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5. Invest in Property
Investing in Nigerian real estate offers several ways to build wealth: rental properties provide steady income from tenants; commercial real estate yields high returns but needs more upfront investment; house flipping involves buying, renovating, and selling properties quickly for profit; Real Estate Investment Trusts (REITs) offer stable returns without owning property; crowdfunding pools funds for diverse projects; developing land into properties can bring substantial profits; buy-and-hold strategies generate income and property value growth over time; joint ventures spread risks and rewards with partners. These options cater to different investor goals in Nigeria's expanding market.
Property investment takes more upfront capital than some other small business ideas in Nigeria. But if you have the capital, you should look into it. - Engineer Ewenla, Lagos Real Estate and Property Manager.
6. Poultry Farming
The agricultural sector has always been a gold mine for entrepreneurs. Poultry farming, in particular, is a profitable business with a steady market in Nigeria. The demand for chicken, turkey, eggs, and other poultry products is constantly rising.
To start a poultry farm, you must invest in suitable housing, feeds, and the right breed of chickens or turkeys. You can generate significant profits from poultry farming with proper management and a specific target market.
7. Rental Services
The rental services industry is broad in Nigeria, covering car rentals, event rentals (such as canopies and chairs), and house rentals. The demand for rental services is high, especially in major towns where events occur regularly.
Starting a rental services business in Nigeria requires strategic planning. By renting out canopies, tables, and chairs, you can cater to the needs of individuals and organizations hosting events. Choose a suitable location and establish a strong network to ensure a steady stream of customers.
8. Snail Farming
Snail farming is a lucrative small-scale business with a high demand for snails in Nigeria. According to experts, the industry is worth $12,000,000,000, and the annual demand for snails in Nigeria is about 7.5 million kg annually!
Starting snail farming is relatively easy and requires minimal investment. You can begin by selling a small number of snails and gradually expand your business as they reproduce. With the right housing and feeding conditions, snail farming can be combined with a regular job, making it a flexible and profitable business to start selling snails.
9. Sports Viewing Center Business
Sports viewing centres have become a popular business opportunity in Nigeria. Many individuals in villages, towns, and cities do not have direct access to sports channels and rely on viewing centres to watch their favourite games.
To start a sports viewing centre, you will need a suitable site, a well-equipped structure, comfortable seating, and the necessary gadgets for showing games. Over time, you can build a loyal customer base and create a thriving business.
10. Ice Block Production
In Nigeria, where power supply is often unreliable, ice blocks are necessary for cooling food and drinks. Ice block production is a steady business with a high demand, especially in areas with limited access to electricity.
To start an ice block production business, you must invest in the necessary equipment, secure a suitable factory site, hire staff, and arrange for efficient delivery. Providing quality ice blocks at competitive prices will help you establish a solid customer base.
11. Pure Water (Sachet Water) Production Business
Pure water, also known as sachet water, is an essential commodity in Nigeria. It is a cost-effective and convenient option for clean drinking water, making it a staple in households, offices, and events.
To start a pure water production business, you will need to obtain the necessary permits and licenses, invest in water treatment equipment, and secure a reliable distribution network. Ensuring strict adherence to quality standards and providing prompt delivery will help you build a reputable brand.
12. Photography
Photography is a highly lucrative small business idea that offers creative fulfillment alongside potential financial success. With the increasing demand for high-quality visual content across social media, websites, and print media, skilled photographers are in constant demand. Investing in a quality camera, like a mirrorless option, is crucial for capturing stunning images that attract clients. Learning manual mode and mastering light are foundational skills that set professional photographers apart, ensuring they can create compelling and impactful photos that clients value.
For beginners, starting a photography business begins with honing technical skills through courses and practice. Platforms like Creative Live and mentorships offer accessible ways to learn, while hands-on practice in various settings builds confidence and expertise. Building an online presence through social media platforms such as Instagram or Facebook allows photographers to showcase their work and attract potential clients. As skills develop and confidence grows, transitioning to charging for sessions is a natural progression towards building a sustainable business. Continued learning through workshops and investing in new gear ensures photographers stay competitive and continually improve, offering endless opportunities for growth in this dynamic field.
13. Road Transport Business
The road transport sector in Nigeria is lucrative, with millions of people relying on road transportation for their daily activities. Starting a road transport business allows you to cater to the transportation needs of individuals and businesses.
The scope of your road transport business can vary depending on your capital level. You can choose to focus on intra-state movement within a city or expand to inter-state transportation. Providing safe and reliable transportation services and building a strong network of drivers and vehicles will contribute to the success of your business.
14. Ice Cream Production Business
Ice cream remains one of the most popular snacks and confectioneries worldwide. In Nigeria, the demand for ice cream is high, with adults and children consuming it regularly. Starting an ice cream production business presents a lucrative opportunity for beginners looking to enter the food industry. With ice cream's timeless appeal and high profit margins, newcomers can capitalize on diverse consumer preferences by offering unique flavors or specialized products such as organic or artisanal varieties. By focusing on quality ingredients and innovative recipes, entrepreneurs can attract health-conscious and discerning customers, distinguishing their brand in a competitive market.
To get started, aspiring ice cream producers should begin with thorough market research to understand customer preferences and identify potential niche markets. Crafting a detailed business plan that includes production costs, distribution strategies, and marketing tactics is essential for laying a strong foundation. Building relationships with reliable suppliers for ingredients and equipment ensures consistent product quality
15. Tiger Nut Drink Production
Tiger nut drink, also known as "kunun aya" in Nigeria, is a natural and nutritious beverage made from tiger nuts. It is rich in nutrients and offers numerous health benefits, making it a popular choice among consumers.
Starting a tiger nut drink production business allows you to tap into the growing market for healthy and natural beverages. You can distribute your product to eateries, local food stores, and supermarkets. Providing a quality product and effective marketing will help you build a loyal customer base.
16. Hibiscus Drink Production
Hibiscus drink, popularly known as "zobo" in Nigeria, is a refreshing and healthy drink made from dried Roselle plant flowers. It is sugar-free and offers various health benefits, making it a favorite among children and adults. Zobo is a lucrative business you can start-up with just a little amount of capital.
Starting a hibiscus drink production business allows you to produce and distribute this popular beverage. With the right marketing strategy and distribution channels, you can establish a strong presence in the market and cater to the growing demand for healthy drinks.
17. Scrap Metal Collection Business
Starting a scrap metal collection business can be a highly lucrative business in Nigeria especially with the increasing demand for sustainable practices and recycling. This business taps into multiple industries—automotive, construction, appliance manufacturing—that constantly generate scrap metal needing recycling. With the right approach, beginners can enter this field profitably. Here is why it's a promising small business idea:
Scrap metal is a valuable commodity, with prices fluctuating based on market demand and metal type. As industries continue to prioritize sustainability, the need for reliable scrap metal recyclers grows. You can start by creating a solid business plan outlining target markets, pricing strategies, and equipment needs. Building relationships with local businesses that generate scrap metal ensures a steady supply. Obtaining necessary licenses and insurance safeguards operations, while investing in essential tools like scrap yard magnets and storage facilities ensures efficient processing. Marketing efforts, both online and through local networks, help attract clients and build a reputation for reliability and environmental responsibility. This step-by-step approach positions newcomers for success in the competitive scrap metal recycling industry.
18. Sports Betting
Sports betting has become a popular form of entertainment and an opportunity for entrepreneurs to make profits. Like many people worldwide, Nigerians enjoy betting on their favorite sports events.
Starting a sports betting shop or a chain of bet shops allows you to tap into the lucrative sports betting market. While this business comes with risks, it offers endless possibilities for growth and profitability.
Afolabi Ojabowale
19. Beer Parlour Business
After a long workday, many Nigerians like to unwind at beer parlors, enjoying a few bottles of beer and local delicacies. Starting a beer parlour business allows you to cater to this need for relaxation and socializing.
To start a beer parlour, secure a suitable location, create a cosy ambience, and offer a variety of beers and snacks. Providing excellent customer service and promoting a friendly atmosphere will attract customers and keep them coming back.
20. Frozen Foods Business
The frozen foods business is a lucrative venture in the food processing industry. Frozen foods, such as fish, meat, chicken, turkey, and vegetables, are in high demand in Nigeria.
To start a frozen foods business, you will need to invest in a reliable supply chain, secure storage facilities, and establish relationships with retailers and food vendors. Providing high-quality frozen foods and ensuring timely delivery will help you build a strong customer base.
21. Egg Distribution Business
Egg distribution stands out as a lucrative small business idea due to the high demand for eggs in Nigeria's thriving food market. Poultry farms across states such as Oyo, Ondo, and Ogun produce an abundance of eggs, providing ample supply opportunities for distributors. With the ability to negotiate better rates when purchasing large quantities, distributors can secure competitive pricing that boosts profit margins.
Beginners can start an egg distribution business by first securing adequate capital, with N100,000 being a reasonable starting point to cover initial purchases and transportation costs. It is crucial to establish a reliable means of transporting the eggs, either by owning or hiring a vehicle, and to ensure careful handling to minimize losses from cracked eggs. Forming strong relationships with poultry farms and negotiating favorable terms is essential.
22. Logistics and Delivery Business
The logistics and delivery sector is a lucrative small business idea due to the high demand driven by e-commerce and global trade. With various niches available, such as trucking operations or local courier services, beginners can choose an area that fits their budget and interests. The potential for steady growth and profitability makes this industry an attractive option for entrepreneurs.
To start, beginners should decide on a specific niche, create a solid business plan, and get their finances in order. Securing necessary licenses and ensuring legal compliance are crucial steps. Effective marketing and networking are essential for acquiring clients and establishing a successful logistics and delivery business. By following these steps, entrepreneurs can tap into the growing demand for reliable and efficient delivery services.
Sha don't start shipping from the U.S. and U.K. to Nigeria and put us out of business o. - Editor's note.
23. Copywriting Business
The demand for great copywriting has grown significantly as businesses realize the importance of compelling content. Copywriters are sought after to create persuasive ad copies, speeches, email campaigns, and more.
Starting a copywriting business requires good writing skills, creativity, and understanding clients' needs. Ensure you have essential tools like a computer and internet. Set up your business by registering it and possibly getting insurance. Plan your business strategy, decide on the services you will offer (like advertising or web content), and develop a unique brand. Determine your rates based on industry standards and your expenses. Collect samples of your writing to showcase your skills in an online portfolio. Continuously improve your skills and consider attending networking events to find clients. Don't forget to ask satisfied clients for referrals and establish a solid accounting system to manage your finances.
24. Offer Web Development Services
The technology market is expanding. You can learn web design and coding online and offer web development services from home. This is one industry where you can make a lot of money if you are a techie. Offering web development services a challenging yet rewarding endeavor where careful planning and commitment are essential.
Begin with a thorough SWOT analysis to understand your strengths and weaknesses, then define your target market and startup costs. Establish a standout website showcasing your skills and services. Offer a clear set of services with competitive pricing, and consider building a skilled team to support your growth. Promote your business effectively through targeted marketing efforts, continuously innovate and scale your services to meet client demands and grow your business effectively in the competitive web development industry.
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25. Open a Daycare Center
Starting a daycare business in Nigeria has become increasingly popular due to more women entering the workforce. It is a feasible venture that can be set up affordably, even from home. Begin by creating a business plan outlining your goals and strategies. Register your business with the Corporate Affairs Commission and get the necessary licenses. Choose a safe and well-equipped location at home or in a commercial space. Hire staff who enjoy working with children and develop a curriculum on educational and emotional growth. Market your daycare through banners, flyers, and social media to attract parents seeking reliable childcare options.
Embarking on this venture doesn't necessitate intricate skills or elaborate setups. What matters is your passion for providing a safe and enriching space for children to learn and play. This small business idea's foundation is understanding parents' needs and concerns. Plan smart, keep kids safe, teach creatively, and create a daycare that parents love and where kids thrive, bringing you joy.
26. Sew Specialized Uniforms or Special Items
The need for specialized uniforms in Nigeria is huge. In Lagos, over 500 schools and businesses need this service. This makes it one of the best business ideas for women. There are also military and paramilitary groups with such a large demand. Sewing specialized uniforms for these groups will keep you busy for a while.
27. Makeup Business
The beauty industry has evolved significantly, with makeup becoming more than just a beauty item. It is now considered a form of creative art and an essential component for various professionals, such as models, artists, photographers, and actors. The worldwide cosmetics market has grown dramatically in recent years, with the industry worth $380.2 billion in 2019 and predicted to reach $463.5 billion by 2027.
To start a makeup business, you must decide whether to sell existing products, white-label generics or create your formulations. Set up a professional online or physical storefront with a reliable payment system to launch successfully. Starting this business allows you to provide makeup services for special occasions like weddings and birthday events. You can also offer makeup training classes to generate extra income. With the right skills and a passion for beauty, you can turn your love for makeup into a successful business venture.
28. Laundry Service
The laundry service business is a profitable small-scale business that requires minimal technical skills. In a fast-paced society, many people have little time to spare for laundry, putting laundry services in high demand.
To start a laundry service, find a favorable location in a busy area, especially near offices where professionals have limited time for laundry. Start with a small team and gradually expand as your customer base grows. Providing quality service and timely delivery will help you build a loyal clientele.
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29. Fashion Boutique Business
The fashion boutique business is a signature industry in most Nigerian towns and cities. Despite existing competition, there is always room for new entrepreneurs to make their mark in the industry.
To succeed in the fashion boutique business, focus on offering trendy and fashionable items that resonate with your target market. Establishing a strong online presence and leveraging social media platforms can help you reach a wider audience and boost your sales.
30. Hair Dressing Business
Hairdressing is an evergreen small-scale business opportunity. People always strive to keep their hair in the best shape possible, making hairdressing services in high demand.
To open a hairdressing salon, you need to be a professional hairstylist or employ skilled hairstylists. Offering quality hairdressing services and recommending hair care products to clients can help you build a loyal customer base. Additionally, you can train apprentices and sell hair products for extra income.
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31. Barbing Salon Business
Barbing, like hairdressing, is another thriving small-scale business opportunity. Men need regular haircuts and grooming services, making barbing salons a necessity in every neighborhood.
To start a barbing salon, you need to acquire the necessary skills or hire skilled barbers. Providing quality services, selling grooming products, and offering training can help your barbing salon stand out and attract a loyal clientele.
32. Drone Photography
Drone Photography is a lucrative small business idea, especially for men interested in combining technology with creativity. This business leverages the rising demand for unique and compelling visual content in various industries, including real estate, events, and marketing. With the ability to capture stunning aerial shots, drone photography offers a unique value proposition that traditional photography cannot match. The initial investment covers the cost of drones, a drone license from the Nigeria Civil Aviation Authority (NCAA), and essential software and insurance.
Beginners can start a drone photography business by first obtaining a drone license through the NCAA, which involves passing a knowledge test and registering their drones. Investing in at least two high-quality drones ensures reliability and continuity of service. Beginners should also focus on building a strong portfolio and an online presence through a dedicated website and active social media profiles. Networking with traditional event photographers, real estate agents, and local business groups can help in securing initial clients and expanding their market reach. With careful planning and strategic marketing, drone photography can be a rewarding business idea for men looking to explore innovative and profitable ventures.
33. Fitness Training and Coaching
Fitness Training and Coaching is a great small business idea for men. With more people wanting to get fit and stay healthy, there is a big demand for personal trainers and coaches. Starting this business can be affordable and rewarding. You can work flexible hours and create custom fitness plans for your clients. You don't need a lot of money to start, especially if you start with online coaching. All you need is a good internet connection and some basic equipment. As you grow, you can offer group classes, special programs, or even develop your own fitness app like Kira Stokes did with her 'Stoked Method.'
Beginners can start by following a few simple steps. First, get certified as a personal trainer. This will help you gain the knowledge and skills you need to train clients safely and effectively. Next, decide if you want to train clients in person, online, or both. If you choose to train clients in person, look for a gym or community center where you can rent space. If you prefer online coaching, set up a website or social media page to market your services. Finally, invest in some basic equipment like resistance bands, dumbbells, and yoga mats to get started. With hard work and dedication, you can build a successful Fitness Training and Coaching business.
34. Personal Chef Services
Becoming a personal chef is a lucrative small business idea for men. Many people are looking for healthy, delicious meals but don't have the time or skills to cook for themselves. This creates a high demand for personal chefs who can prepare meals tailored to clients' tastes and dietary needs. Personal chefs can charge premium prices for their services, especially if they specialize in gourmet, health-conscious, or dietary-specific cooking. The flexibility of this business allows chefs to work in clients' homes or deliver pre-made meals, making it easier to balance work and personal life.
Beginners can start their personal chef business with a few simple steps. First, get some culinary training, which can be from a cooking school or online courses. This will help you gain the skills needed to create a variety of dishes. Next, decide on your target market, such as busy professionals, families, or people with specific dietary needs. Create a menu of your services and start marketing through social media, a website, or local community boards. Investing in some basic cooking equipment and reliable transportation for grocery shopping and meal delivery is also important. With passion and effort, you can build a successful Personal Chef business.
35. Car Detailing
Car detailing is a highly lucrative small business idea due to its growing demand and relatively low startup costs. Unlike simple car washing, detailing involves thorough cleaning, restoration, and finishing of vehicles, both inside and out, which provides higher margins. Many car owners are willing to pay premium prices for these services to maintain their vehicles in pristine condition. With the increasing popularity of mobile car detailing, entrepreneurs can start with minimal investment in equipment and a vehicle, making it an accessible business idea for men looking to become their own boss.
Beginners interested in starting a car detailing business should gain hands-on experience in the industry first. This can be achieved by working for established detailing businesses or completing an auto detailing certification course, such as the one offered by Cleaneat. Writing a comprehensive business plan is crucial, outlining services like vacuuming, handwashing, engine detailing, and paint touch-ups, and determining whether to operate from a physical location or offer mobile services. Securing the necessary licenses, permits, and insurance will ensure compliance with local regulations, while investing in the right equipment will set the foundation for delivering high-quality services. By establishing a clear marketing strategy and separating business finances from personal finances, beginners can build a strong and profitable car detailing business.
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36. Pastries Production Business
Pastries, such as pies, croissants, muffins, and doughnuts, are a popular choice for snacks and desserts. Starting a pastries production business allows you to cater to the demand for these delicious treats.
To succeed in the pastries production business, you will need to develop unique recipes, source quality ingredients, and invest in baking equipment. Building relationships with retailers and promoting your pastries through digital platforms can help you reach a wider audience and boost sales.
37. Dropshipping
Dropshipping is a business model that allows you to sell products without having to hold any inventory. Instead, you partner with suppliers who handle the fulfillment and shipping processes. This is a business that you can start from the comfort of your home.
To start a dropshipping business, you will need to identify a profitable niche, build an online store, and establish relationships with reliable suppliers. With the convenience of running your operations remotely, you can manage this business from the comfort of your own home. Promoting your products through social media and online advertising can help you attract customers and generate sales.
Lucky for you we have a detailed guide that works you through starting your dropshipping business and even earning 7 figures in no time!
38. Mini-Importation Business
Mini-importation, a lucrative small business idea from home, involves importing and selling goods in your country of residence. It offers opportunities to provide consumers with quality products at competitive prices.
To start a mini-importation business, you will need to identify reliable foreign online stores, choose quality products, and navigate customs regulations. Developing a solid business plan, including strategies for sourcing products, managing logistics, and understanding market demand, will help you succeed in this business.
Afolabi Ojabowale
Small Business Ideas with Low Startup Cost
Get inspired by these small business ideas that won't break the bank and are easy to start.
39. POS Business
Starting a Point of Sale (POS) business in Nigeria can be lucrative because it is a small business with low startup costs and high demand in urban areas like Lagos. With a startup capital as low as N50,000, entrepreneurs can acquire a POS machine and set up in strategic locations such as markets, universities, and busy streets. These areas experience heavy foot traffic and a constant need for financial transactions, making them ideal for a POS business.
Beginners looking to enter the POS business should start by researching the industry to understand requirements and potential challenges. Acquiring funds for startup capital and selecting a reliable POS service provider are crucial initial steps. Choosing a prime location and promoting the business through targeted marketing strategies, such as social media and local advertising, can help attract a steady flow of customers. By offering reliable service and possibly additional financial services like bill payments and money transfers, newcomers can establish a profitable POS business in Nigeria's competitive market.
40. Social Selling
With social media's increasing popularity, businesses and brands are looking for ways to improve their online presence and sales. Starting a social selling business allows you to help businesses to reach their target audience and achieve their marketing goals.
To succeed in this business, you need a good understanding of various social media platforms and the ability to create engaging and effective campaigns. Moreover, having great graphic designers at your beck and call is crucial. By providing innovative marketing strategies, collaborating with talented graphic designers, and expertly managing social media accounts, you can help businesses grow their online presence and generate more leads.
41. Blogging
Blogging is a creative and profitable business that allows you to share your passions, knowledge, and expertise with the world. It is a platform where you can engage with a global audience and generate income through various monetization strategies. I mean look at where blogging took Linda Ikeji, Bella Naija, and Sisi Yemmie.
To take your blog to the next level, start by choosing a niche you are passionate about and creating valuable and engaging content for your target audience. Consistency and quality are essential for building a successful blog, but you can also explore additional strategies like leveraging Google Ads and affiliate marketing. By adding these advanced techniques, you can further monetize your blog and enhance its potential for success while maintaining a solid online presence.
42. Freelance Graphic Design
Freelance graphic design is a lucrative small business idea with low startup costs, perfect for beginners eager to enter the creative industry. With flexible hours and the ability to work from anywhere, freelance designers meet a growing demand for digital content across various sectors like marketing, e-commerce, and digital media.
To start as a freelance graphic designer, begin by honing your design skills and creating a strong portfolio showcasing your best work. Platforms like Behance, Dribbble, or creating your own website can help you attract potential clients. Networking through social media, joining freelance marketplaces like Upwork or Fiverr, and attending local business events can also help you find initial clients. Setting clear pricing, creating professional proposals, and using contracts for each project ensures you're protected and compensated fairly. As you build a client base, gathering testimonials and asking for referrals can further grow your business.
43. Ebook Publishing
Ebook publishing is a profitable small business idea with low startup costs, making it accessible for beginners looking to enter the digital publishing market. Unlike traditional publishing, ebooks remove the need for large investments in printing and distribution, significantly reducing initial expenses. As more readers embrace digital formats, the demand for ebooks continues to grow, presenting a ripe opportunity for aspiring publishers.
Beginners can start ebook publishing by focusing on creating high-quality content that resonates with their target audience. This involves honing their writing skills and ensuring their ebooks are well-researched and professionally edited. Choosing the right book cover design and formatting for various platforms like Kindle and ePub is crucial for attracting readers. Pricing strategies can be experimented with to find the sweet spot that maximizes both sales and profitability. Leveraging online platforms such as Amazon Kindle Direct Publishing (KDP) or Smashwords provides easy access to a global audience, while marketing efforts through social media, blogs, and email newsletters can help build a loyal reader base and drive sales.
44. Personalized Gift Creation
Personalized gift creation offers a great opportunity for a small business with low startup costs. It's all about making unique gifts like custom photo frames and key-chains that people love to give for special occasions. You can start from home with basic supplies like paint, brushes, and maybe an engraving machine if you want to expand later. This flexibility means you can grow gradually, selling online or maybe in a small shop.
To get started, first, make a simple business plan. Look at what others are doing and find your niche. Create a nice logo and pick a catchy name for your business. Check if the name is available and register it. Start small, maybe in your garage or a small rented space, and find suppliers for materials like glassware or fabric. Then, spread the word locally by talking to event planners and leaving brochures at local businesses. Focus on making quality gifts that people will cherish, and you'll build a strong business over time.
45. Resume Writing Service
Resume writing presents a highly lucrative opportunity with minimal startup costs, making it an ideal small business idea. Having started my career at Careers24 Nigeria, where I crafted many resumes, I understand the market's demand firsthand. With initial investments as low as ₦10,000 for essentials like a domain and website setup, you can operate from home with just a computer and phone. The demand for professional resume services is high, catering to job seekers who recognize the pivotal role a well-crafted resume plays in securing lucrative job opportunities.
To start your resume writing business, focus on establishing a robust online presence. Begin by securing a domain name and setting up a professional website to showcase your services and client success stories. Use social media platforms to build credibility and attract potential clients. Consider expanding your offerings to include interview coaching or LinkedIn profile optimization to enhance your value proposition. By consistently delivering high-quality resumes tailored to impress hiring managers, you can quickly build a loyal client base and achieve profitability in this rewarding field.
In Nigeria, the opportunities for small-scale businesses are endless. Whether you choose poultry farming, rental services, or photography, success is within your reach. Embrace your entrepreneurial spirit, identify your passion, and start your journey towards building a thriving business. With dedication, hard work, taking advantage of free shipping on Black Friday, and a customer-centric approach, you can unlock the doors to entrepreneurial success in Nigeria's dynamic business landscape.
Related: How To Start A Phone Selling Business In Nigeria
As you grow through referrals and sales, Heroshe has your back. Ship your items from the U.S. and U.K. to Nigeria and Ghana for only $8 per pound with no hidden fees. You can buy quality products from websites like Amazon, eBay, get products delivered to your doorstep, and resell to clients without stress!
To begin, you can watch our video explaining the process or sign up right away. And if you are looking to scale up to mini importation, we have a comprehensive guide available for you to read and get started.
These are only forty-five out of the long list of good business ideas in Nigeria. Find a lot more valuable insights on the Heroshe blog. Don't miss out—subscribe now for in-depth advice on growing your small business!
Frequently Asked Questions About Small Businesses In Nigeria
Which business is best to start?
A: The best business to start depends on individual factors like interests, skills, and market demand. However, one particularly promising option is starting an e-commerce store. With the increasing trend of online shopping, an e-commerce business allows you to reach a wide audience and operate with lower overhead costs compared to traditional brick-and-mortar stores. Based on your expertise and market research, You can sell products in various niches, from fashion and beauty to electronics and home goods.
Q: What business can I start with 50,000 Naira?
A: With 50,000 Naira, you can consider starting a small-scale food vending business. For example, you could focus on selling popular snacks like puff-puff, chin-chin, or small chops in busy areas like markets, schools, or office complexes. This business requires minimal investment in ingredients, equipment, and permits, and has the potential for quick returns, especially if you offer high-quality products and excellent customer service.
Q: What business can I start with 200,000 Naira in Nigeria?
A: With 200,000 Naira, you could venture into the mobile phone repair business. You can use the funds to purchase essential tools, equipment, and initial stock of spare parts. With the increasing reliance on smartphones and other mobile devices, there's a consistent demand for repair services. You can operate from a small shop or even offer on-the-go repair services, catering to customers in your locality or through referrals.
Q: What is the fastest business to start?
A: One of the fastest businesses to start is freelance writing. If you have strong writing skills and expertise in specific subject areas, you can offer your services to businesses, websites, or individuals needing content creation. Platforms like Upwork, Fiverr, and Freelancer allow you to quickly set up a profile and start bidding on projects. You can build a solid client base and generate income relatively quickly with consistent effort and high-quality work.
Q: What is the cheapest and most successful business to start?
A: Dropshipping is one of the cheapest and most successful businesses to start. With dropshipping, you don't need to invest in inventory upfront. Instead, you partner with suppliers who handle inventory and shipping. You set up an online store, list products from your suppliers, and market them to customers. When a customer places an order, the supplier ships the product directly to them, and you earn a profit margin. This model minimizes financial risk and allows you to focus on marketing and customer service.
Q: What is the most profitable business to start from home?
A: Starting a home-based catering business can be highly profitable. You can leverage your culinary skills to prepare and deliver meals for events, parties, or individuals. Operating from home saves you on overhead costs associated with renting a commercial kitchen or storefront. With effective marketing through social media, word-of-mouth referrals, and networking with event planners, you can attract clients and generate substantial income while enjoying the flexibility of working from home.
Q: What small business is best to start with?
A: A boutique coffee shop can be an excellent small business. By focusing on quality coffee and creating a cozy ambiance, you can attract a loyal customer base. Offering specialty drinks, pastries, and light snacks can further enhance your appeal. With careful location selection, unique branding, and exceptional customer service, you can differentiate your coffee shop from larger chains and establish a thriving business within your community.
Q: What little business can I start in Nigeria?
A: Starting a small-scale bakery can be a lucrative venture in Nigeria. With the growing demand for baked goods like bread, pastries, and cakes, you can cater to individual customers and wholesale clients such as restaurants, cafes, and supermarkets. With 50,000 Naira, you can invest in basic baking equipment and ingredients. You can build a successful bakery business over time by focusing on quality, freshness, and innovative product offerings.
Q: What business gives daily income in Nigeria?
A: Offering delivery services with motorcycles can provide daily income in Nigeria. With a motorcycle and proper licensing, you can provide convenient and affordable delivery options for people looking to deliver items within your locality. By operating strategically in busy areas or along popular routes, you can generate steady income from fares throughout the day.
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