Many people think that one has to work in an oil company or be in politics before he/she can make plenty money in Nigeria. Hence, they skip lots of small scale businesses which are very lucrative. Here, I list some small of the most successful small business in Nigeria which are profitable and requires less cost for just about anyone to run.
11 Most Successful Small Business in Nigeria You Can Start Today
(1) Event Planning Business
Back then when I was serving at Benin Edo state, I stayed in an apartment with an event planner. Every Saturday, he’d be out on job errands. He would start preparing on Friday till Sunday. By Monday, he was already washing and preparing for other events coming up. Whenever I followed him, I was sure to get some “light changes” even though I did little or no work most of the time. He charged from One Hundred Thousand Naira (N100,000) and above for this service. He started small and today, he is a big brand in Edo state. This go to show that event planning business is a lucrative business to do. Even if you don’t have the flare for it, you can always invest in it because it’s a lucrative business. You should consider this business. Truly, it does pay off.
(2) Taxi Service
The emergence of Uber, Taxify, and Bolt has made Taxi service easier, comfortable/convenient, and quite lucrative. As a Bolt driver, apart from the money you pay the company, your take home is on a very high side and people delve into it now without having a capital. What this means is that you don’t have to own a car to start a Taxi business. You can simply do it by means of hire purchase or borrow people’s car to use for the business and pay them commissions on daily, weekly or monthly basis. Either way, you will gain from this business.
(3) Real Estate Agency Business
Real Estate is on a large scale but don’t get it confused or mix it up with Real Estate Agency. As a real estate agent, your job is to look for buyers and when you hook a buyer and he/she buys or rents a property, you get paid a commission for standing in the gap as the middleman. Many people make millions out of this. However, many things contribute to the successes of this business a key factor being the type of people/prospects that they you meet and/or know. If you are in luck, before 6 months, you would have become a millionaire real estate agent. For this business, you don’t need huge capital. If only you can talk and network, you are good to go. That is why it majestically sits on the same bench with other small scale businesses yet is a very lucrative business.
As long as you are very good at washing and starching of cloth coupled with excellence ironing, you are good to go in this business. As a small scale business, your main goal will be expansion and this is possible mostly by good service, reliable delivery and great customer service. When people see how hard working, sincere, dedicated and diligent you are and how good you are at your job, the rest is history. So, if you have a knack for dry cleaning, don’t hesitate; go for it!
This sounds like oyinbo people business but it’s also a lucrative business in Nigeria. Many people in Nigeria like food like Minced Pie, Samosa, Pastrami, Hot Dog, etc. just the same way they like (or may not like) Amala and gbegiri or Ewedu. Since its mobile, this business is very flexible and easier to operate; it simply involves driving around most of the time to a concentrated “happening” (event) center. If the spot you are selling isn’t profitable enough, you can drive around (i.e., relocate) to a better place.
(6) Restaurant Business
I love food, you love food, we all love food. But not just food; good food! If you serve me poorly prepared (i.e., tasteless or salty) food, I believe you don’t like me and want to kill me. But this is nt just about me. I guess a thousand and one persons out there detest poorly prepared meals and that is where setting up a good restaurant comes in. Restaurant business is one of the most profitable businesses in Nigeria. No matter how slow the day is in terms of sales, there will always be customer. It’s imperative, however, to be at your best in restaurant management so as to invite more customers and increase your profit margin.
(7) Small Bakery Business
Whenever you hear bakery, what comes to mind immediately? A place for making Bread right? But have you realized that a bakery also bakes a lot of other things besides bread like full cakes, cupcakes or muffin, etc.? For a start, you may not do the composite kind of bakery if you don’t have sufficient capital. You can start with just one line of products. Let’s say short bread. This can be extended to large scale as you make more funds from the business and have more customer patronage for the product.
(8) Soap Making
The science that goes into soap making is not complicated. It is relatively easy to follow. This make soap making somewhat easy to do and more profitable. Just make sure your product stands out and is very outstanding. You can make bar soap, detergent, or liquid soap. Find a good packaging for the product and you are good to go!
This might sound tedious but nowadays, Agriculture is the new wealth as long as you have a land or have access to one at a relatively affordable price. It’s cheaper to start and manage a poultry farm. The main thing you need after the farm has kicked off is constant monitoring. Poultry farming is lucrative all year round and especially during season of festivities like Easter, Christmas, New Year celebration and other public holidays. At these times, you are sure to double your income. Poultry farming is one of the aspects of agriculture that needs to be fully explored because its profitability margin can go to the roof unexpectedly.
(10) Catfish Farming
This is another golden product in the Agriculture industry. Even though catfish could be quite expensive at certain seasons, a lot of people still patronize it because of the love they have for it. Many people don’t stop with just the farming but they also include a barbeque stand to it. Barbecue catfish is a real deal in the fish farming business line, it is very lucrative.
(11) Beer Parlor Business
In Nigeria, one thing many people don’t joke with is their love for entertainment especially drinking. I remember when I was in Benin, on each street, there would be one or more beer parlors. This goes to show how lucrative Beer Parlor business is.
One thing to consider before opening a beer parlor, though, is the location and the interest of the people for drinking in that location. It is very important to find out whether the people in the proposed business area enjoy or love to drink often. With the right environment, beer parlor is a very lucrative business.
To make it more enticing, pepper soup should also be introduced. A joint with pepper soup and beer is like a heaven on earth for most people. They come to while away time, enjoy themselves, and leave when they are fully satisfied. Beer parlor is truly lucrative and easy to start in Nigeria.
With everything listed in this piece, finding a passion and sticking with it might prove difficult at first but with time, it will become easy to do. Based on this, which of the most successful small business in Nigeria will you start soon?