Are you looking for lucrative business ideas with small capital in Nigeria? Then you have arrived at the right platform. Contrary to popular belief, financing is not the most difficult aspect of beginning a business; the most difficult aspect is coming up with a fantastic business idea.
This guide is for you, whether you are trying to establish a part-time side hustle or a full-time business.
What is a Business Idea?
A business idea is a concept that can be used to make money and is usually centered on a product or service that can be sold. The first step in the process of creating a successful business is to come up with an idea.
What are Small Businesses?
Small Businesses are usually known to be privately owned corporation, partnership, or sole proprietorship with fewer employees and annual income than a corporation or a regular-sized business. They can also be daily income ventures in Nigeria.
16 Lucrative Small Business Ideas with small capital in Nigeria
Below are the top 16 lucrative small business ideas with small capital in Nigeria:
1. Small Chops Packaging
In Nigeria, starting a small chops packing business is a profitable business concept. Nigerians’ appetite for light meals such as tiny chops has risen dramatically in recent years.
Small chops are also the popular choice for gathering friends for a get-together, boat ride, or time on the beach, aside from big events like weddings, funerals, and birthday parties.
The beautiful thing about little chops is that there will never be a shortage of demand, even if there are a lot of people who offer this service. Creativity and packaging are crucial to running a successful small chops business.
2. Cosmetic Brand
The cosmetic brand is one of the top 16 lucrative business ideas with small capital in Nigeria. It is one of the most profitable businesses you can start is the cosmetics industry. Why do you think that is? People are conscious of their appearance.
People want to appear attractive. If you like to be beautiful, the cosmetics industry is something you should look into.
3. Mini importation Business
Since the internet’s birth, a great deal has changed. People’s trading and economic operations have taken on a new appearance. Learning how to start a mini importation business and then venturing it in with pay you.
People now buy and sell goods by placing orders on e-commerce websites such as Alibaba, Global Sources, and others. You can start with as little as 100,000 Naira, if not even less.
4. Start a Food Business
Food, clothes, and shelter are man’s fundamental requirements. This is why you should think about starting a food business.
Every guy eats, regardless of his circumstances, which is why the food industry in Nigeria is profitable. Food is, in fact, one of Nigeria’s most popular items.
5. Hire Purchase Service
A hire purchase service is one in which the buyer pays a deposit up front and then pays the balance over time with interest. You can, for example, purchase a vehicle and then lease it to a driver for a set amount of time in exchange for a larger price than you paid for it.
6. Electronics Repair Business
After you’ve been trained in how to do the task, you can open an electronic repair shop. After learning costs, starting an electronics repair shop involves very little money. Many people in Nigeria have gone into electronic repair and are now making a good living. People are still in need of an electrician’s services.
7. Courier Service Business
A courier service aids in the delivery of goods. The courier service operates as a go-between for the manufacturer and the store or customer. There is a lot of money to be made in this industry. Before you begin, double-check your facts, and then prepare a thorough business strategy to lead you through the process.
8. Starting a Gym or Fitness Centre
People are always preoccupied about their appearance, body size, and overall fitness. People spend to become in the greatest form possible and to maintain that shape.
Due to lifestyle trends and health challenges, the Nigerian fitness business holds considerable promise, particularly in many middle and higher-middle-class communities.
9. Sale of Mobile Phone Accessories
Sales of mobile phone accessories is one of the top 16 lucrative business ideas with small capital in Nigeria. In Nigeria, mobile phones are one of the most popular items. As a result, selling mobile phone accessories is another option to make money. If you have the funds, you may choose to rent a shop for your business.
You can even make it a mobile business by transporting your goods to certain locations where you believe they are required or desired.
10. Laundry Service Business
This is another successful business you might start in Nigeria. Many people have made money in this industry, and many more are still doing so. You can also join the ranks of those who have made a fortune in the dry cleaning industry.
Many individuals are preoccupied with their jobs, and they rarely have time to handle household chores such as laundry. Some people may even wash and find ironing to be stressful. Some people want their garments to have a professional touch, and they realize that only a dry cleaner can provide that.
11. Cleaning Service
You can make money cleaning if you have the ability or desire to do so. When you only have a few members of staff, cleaning supplies, and transportation, you can provide cleaning services. You can provide service to individuals, businesses, or apartment complexes.
Before you start a cleaning service, you don’t need much experience. The most important talents you’ll need are preparation, dedication to your work, and effective marketing to attract the ideal customers. You may set your cleaning service apart from the competition by charging extra for services like floor waxing or fumigation.
12. Real Estate Agent
It is difficult for many people to obtain an apartment or other landed property, which is why a real estate agent is required. As a real estate agent, your objective is to assist customers in locating their ideal home at a price that is within their budget. To work as a professional real estate agent, you may need to obtain a certificate.
Aside from the qualification, there are some talents you should have, like as negotiating, closing a sale, and so on. If you want to consider this a viable business, you must also be able to communicate effectively with others.
13. Delivery Service
Are you looking for a profitable business that is simple to start? Then you should think about starting a delivery service. You only need a car (or a bike) and the ability to drive or ride. Don’t be put off by the large delivery firms; there are still openings.
It is necessary to have a decent driving record in order for people to trust you with their belongings. To succeed in this industry, you must be able to deliver items on time and have excellent organizational abilities.
14. Custom Clothing
People enjoy wearing their personalized T-shirts and polos, which include their own unique designs and inscriptions. You can start a company that customizes shirts and other goods.
15. Start a repair shop for automobiles
Owning and running an automobile repair shop is to say the least, a very lucrative business not only in Nigeria, but all around the world. This is due to the fact that people’s automobiles will constantly require maintenance. You must study everything there is to know about vehicles and maintenance in order to manage this business properly.
16. Aquaponics Business
Aquaponics is a method of growing plants without soil, using excrement from aquatic species as a source of nutrients. This is a business that you may start right in your own backyard.
List of Small Business in Nigeria
Here’s a list of some of the very profitable small business ideas or establishments:
- Bead Making
- Driving School Business
- Makeup artistry business
- Hair Extension Business
- Sports Viewing Centre
- Petty Trading
- Phone Repairs
- Barbing Salon or Hair Salon
- Seasonal Farming
- Poultry farming
- Photography
- Game Centre
- Catering Services
- Tutoring
- Fish farming business
- Consulting
- Rental Service
- Frozen fish and chicken business
- Cyber Café
- blogging or SEO content writing
Frequently Asked Questions
Most Successful Small Business Ideas You Can Start in Nigeria
Some of the most successful business ideas are:
- Livestock farming.
- Export agricultural products.
- Mining.
- Private refinery business.
- Uniform sewing.
- A writing company.
- Call center agency.
- Recruitment agency.
Small business Ideas for Teens
- Housecleaning
- Errand services
- Child care
- Car washing
- Lawn Care
- Academic tutor
Creative Small Business Ideas
- Logo Designer
- Wedding Photographer
- Jewelry Maker
- Art seller
- Event planning
- Interior decor
Conclusion
There are so many business ideas out there, but one thing you have to consider is in what area lies your strength? – what are you passionate about doing? Think about that and explore the many business ideas or opportunities available and be sure you can grow from little to mighty.
