Okay, having provided a detailed analysis of the legal requirements, market feasibility and every other thing it takes to start a business in Nigeria and a series of industry-specific sample business plan templates; here is an in-depth analysis of the top 50 best small business ideas in New Nigeria. So put on your entrepreneurial hat and let’s proceed.
Starting a business isn’t a luxury but a necessity for anyone whose aim in life is to make good money and become a millionaire fast in Nigeria. This is one of the reasons why you have got to look at starting a business in Nigeria. The ground is so fertile and there are loads of people to patronize you especially in cities like Lagos, Abuja, Onitsha, Portharcourt, Aba, Kano, etc.
- Raw Food Stuff Business
This is one profitable business that can bring in good returns on investment in Nigeria. Nigerians are people who love to eat more homemade foods than the fast foods, unlike their foreign counterparts. Things like rice, beans, garri, amongst other things are what would be sold.
- Call Card Business
This type of business is also known as the recharge card business. There is hardly any adult In Nigeria who doesn’t own a phone. This is one of the reasons why those in the recharge card business are doing so well. You too can join the train as you begin to tap into the market.
- Daycare Business
There will always be the need to make a living even after giving birth. This is one of the reasons why day care centers make good money. The services they render is second to none and is indispensable. If you have a penchant for babies and kids, then you can consider starting a day care center.
- Dry Cleaning Business
This is one of the fastest growing businesses in Nigeria. A lot of people have done really well in this business and still are doing well. There are a lot of people who are too overwhelmed by work that they may not have the time to wash their clothes. Therefore, you may want to look into starting a cry cleaning business.
- Restaurant Business
In Nigeria, the restaurant business have always been on the rise. This means that it doesn’t go out of fashion. If you think that you are a great cook, you can start a restaurant business. You will be required to do a lot in the area of cooking very great meals.
- Car Rental Business
Cars all over the world isn’t a luxury but a necessity. There are times however when some people may be in need of car services. This is where a car rental business comes to fore. Be sure you understudy an expert who can make you learn all the ropes within time.
- Bakery Business
People all over the world love to eat baked things. Nigeria is one of them. Before you start out it is vital garner all the necessary information that you will need along the line. You will need to go to a school that offers baking services if need be. You will need other things too to get started.
- Hamper Business
In Nigeria, there are seasons when the hamper trade is really an all-time high. If you know you have the knack for gifts, then you can look into starting a hamper business. You will need to decide if you want to deal in already assembled hampers, or if you want to be the one assembling it.
- Film Production Business
Nollywood is one of the fastest growing film industries in the world. Every often block buster movies are being churned out and those who are the helms of affair when it comes to film production are doing all they can to see that great movies are produced. You too can join the bandwagon when you start a film production business. You do not need any qualification to join the train.
- Graphics Design Business
If you are arts inclines and are looking for an arts related business to start, then you can look into the graphics design business. One of the good things about this business is that you can acquire the skills that is involved from the scratch and then expand on what you have learnt
- Phone Repair Business
There is hardly any adult who doesn’t have a phone in Nigeria. This only goes to show that the phone business and other businesses surrounding it is really a worthwhile one. You can garner the phone repair skills so that you can delve into the huge market that is in existence.
- Gym Business
Fitness has always been a source of concern to Americans, and Nigerians have also caught the bug. This is because of the high rate of cancer that continues to ravage people. If you are a fitness and health enthusiast, then you can look towards starting a gym related business. You will need to have enough finance to equip your gym center.
- Wine Bar Business
From clubs, to restaurants and even in homes, wine is usually consumed. If you know that you are a wine connoisseur, or are in love with wine, then you can look into starting a wine bar business? You have to make sure that the location you choose for this business is a good and promising one.
- Internet Radio Business
If you are interested in going into the internet radio business, then you should be conversant with the fact that it is a different kettle of fish from the traditional radio business – especially as the source for your internet radio business is a computer. Before starting this business, you should know what topics you would need to discuss to appeal to your target market, and what kinds of business you would be concentrating on.
- Transport Business
The population in Nigeria is huge and a lot of people are looking for a good living. People move from one spot to another to make ends meet. You can be the problem solver by starting a transport business. Before you start, you will need to determine if you want an interstate service or an intra-state shuttle.
- Jewelry Line Business
Sourcing for materials to use for your jewelry line business will mean you looking for reliable suppliers and getting your materials in bulk so as to cut down on overhead cost, and make your jewelry affordable. You would also need to create an inventory system for your materials so that you could be alerted when they run low.
- Mobile car wash Business
Mobile auto car wash eliminates the need for a physical business location, therefore limiting start-up costs considerably. Start a mobile car detailing business with inexpensive supplies and tools and grow as needs arise. As a mobile detailer, you will perform jobs in customer parking lots, driveways and garages, giving you the advantage of visibility for marketing purposes. The downside includes not being able to work outdoors in inclement weather and the limitations of having to travel with all necessary tools and supplies, including large quantities of water.
- Party Rental Business
A party rental business is indeed a good way to make extra money and in the long run can turn into a lucrative, full-time business. People love to have party in Nigeria, and there are times when some party rentals might not give one what they want. You can bridge the gap by starting a party rental business.
- Pizza Delivery business
Starting a pizza delivery business is a profitable business venture, and can yield a high profit margin for any entrepreneur who is serious about the business. With pizza, you get to be creative as well as learn how to cook. You would also need to be as creative as your mind can possibly conceive; pizzas come with different options such as chicken pizzas, Hawaiian pizzas, Italian sausage pizzas, barbecue pizzas, as well as other traditional cheese, and hamburger pizzas.
- Nursing Home Business
Home nursing businesses are a growing field with increasing demand driven by an aging population. Today’s health care offers more forms of surgeries, interventions, and elective procedures–often leaving patients needing temporary home nursing care.
In addition, members of the elderly population who don’t want to leave their homes for an assisted living facility or nursing home often elect ongoing home nursing care. For an entrepreneur looking to get into the home nursing market, establishing the business is usually more challenging than finding a customer base.
- Poultry farm Business
Starting a poultry farm might appear easy but starting it as a business too is something entirely different. This means that you are not only just a chicken farmer but an entrepreneur as well. Starting this business you would need to define your target market. And the part of the chicken industry you intend to go into. The chicken industry has two main parts; Layers, where the chickens bred also lay or produce eggs, or Broilers, where chicken are bred mainly for meat.
- Cosmetics Business
If you love beauty, then going into the cosmetics business is one of your bet. For you to do really well in this business, you will need to engage in some deep research. Why is this important? This is important because you will need to learn new things about the cosmetics industry that will help your business.
- Microfinance Business
If you have the capital or are sure to get well-meaning partners to float your microfinance business, then you can look at starting a microfinance business. You have to have a good business plan to do this. A business plan will help you know what and what to do per time.
- Tailoring Business
The art of tailoring have been in existence from time immemorial. This means that it didn’t just start recently. If you have an eye for fashion, then you can begin to work on delving into the tailoring industry. One of the good things about this trade is the fact that you will beautify people for a fee.
- Insurance Agency Business
The idea of creating a niche to grow your book of business for insurance agents is certainly not a new idea. However, It is often heard from insurance agents wanting to find their niche market, but unsure of where to start.
- Tomato Farming Business
Starting a tomato farming business is a rewarding business that is not too expensive to start up. However, before you start your tomatoes business, find out what kind of tomatoes people usually want. This information can be gotten from those who supply seeds, as they will be able to tell you what is popular and what isn’t. Also, they will let you know the varieties that sell well; however, you will also need to ensure that the seeds you finally pick will grow well in your climate.
- Wood working Business
Starting a woodworking business is a great way to turn a hobby you enjoy into a money-making venture. Wood items are popular and make great decorations and gifts. But starting a woodworking business involves more than creating wooden objects. It requires research and planning particularly in marketing and business management.
- Agricultural Business
If you think that the idea of starting a commercial farming business goes down well with you, then you can start an agric related business. One of the things that you should have at the back of your mind when you want to start this business is the fact that you have to first of all come up with the crops that move pretty well in the market.
- Fish farming Business
Delving into the fish farming business means that you must have knowledge about the business. Why is this important you just might ask? This is especially important because you do not want to come across as a dullard who is in business. You can start out by carrying out a thorough research on the internet.
- Organic farming Business
A lot of people because of health reason are opting for only organic products. These products take time to mature unlike the hybrid counterpart. If you have a penchant for healthy living, you may then consider starting an organic farm business.
- Shipping Company
The major factor that encourages to venture into this industry is its viability as a profitable venture. The lucrative nature of the industry is unparalleled and it’s indeed one of the few industries in the world which has the highest number of turnover in terms of profit and otherwise.
- Real estate Investment Business
Real estate investment is a very attractive avenue for wealth building, as there are few other business opportunities where the potential for income is so high. However, it can be a very risky endeavor to step out on your own and jump into a volatile market. Navigating the financial and legal issues surrounding real estate investment can be an incredible hassle. Still, thousands of people are doing it every day and the smart ones are coming out on top.
- Electronics Repair Business
To start an electric repair business is simple and you will need to learn all the ropes. An electric repair business has unlimited profit potential and a low start-up cost. This industry boasts of a lot of people who have done really well for themselves. In Nigeria, people have continued to require the services of an electrician.
- Courier Service Business
There is a lot to be tapped from when you start a courier service business. What is more, there is a lot of profit in this business. If you think this is a type of business that you want to start, then you must first and foremost get all your facts together. After you have done that, then be sure to write a business plan to guide you as you start out
- Freelance Writing Business
It’s very possible to become either a full-time freelance writer earning a living, or to be a part-time freelancer supplementing a regular paid income. Another role is to simply do it for fun or to build up a broader portfolio of skills. In this article, you’ll get the basics on what it takes to ease your way into freelance writing as a career or to be put properly, turn your writing hobby into a career that doesn’t affect your day job.
- Motherless Children’s Home Business
Homeless kids will always seek for refuge in places where they are accepted. This is one of the reasons why you can start a motherless kid’s home. This of course will float as a nongovernmental organization, but in the process you will make your own profit and get a reward for reaching out to the needy people.
- Arts and Crafts Business
If you have ever had a heart to heart business talk with a business expert, chances are that you may have been intimated on the point that being wealthy isn’t about working and earning wages at the end of the week or month. It is about having various streams of income. Being wealthy and successful is no child’s play at all. As a matter of fact being wealthy has a lot to do with how many businesses you have and how much profit you are able to rake in after a period.
- Clothing Store
The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. The industry is defined as single-establishment stores only. Clothing stores (boutiques) can be strictly designer based (i.e. only one designer’s collection is sold there), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market.
- Chiropractic Business
There are several businesses that revolve around medicine. This means that if you have the penchant for going into a medical related business, then you may want to consider the chiropractic business. This trade has been in existence for centuries. You may want to consider this business by first learning all that needs to be learnt before venturing into the trade. This is o that you are not found wanting in any area.
- Pest Control Business
If you are thinking of starting a business that can guarantee you steady income, then one of your options is to consider starting pest control business. Pest control businesses is a business that is involved in removing or eradicating potentially harmful insects, rodent and reptiles from, farms, commercial and residential properties. These days more than ever before in the world, more and more people are conscious of eradicating things that might bring ill health to them. So you will find that it is a very good business to start.
- Screen Printing Business
The screen printing business is some kind of business that anyone who wishes to make good money from should look up to. This is because of the level of profit that can be acquired in this trade. If you are looking to start this business, then you have to be sure that you have ample time to learn the trade. One of things that will make you stand out in this venture is the level of know- how that you exhibit.
- Gaming Business
There are a lot of people who love games. This should be one of the things that should drive you. Starting a gaming business requires that you first lean the ropes from those who have gone before you. After you have done that, then you can begin to look at how to set your own business up.
- Fabric Business
The fabric business is a very wide one in Nigeria as there are loads and loads of variety of fabrics. Before you begin to look at starting operation, you have to be sure that someone who is already doing well in the business is able to mentor you. Mentoring is important so that you can start out well.
- Auto-Repair Shop
All over the globe, the auto repair business is such that is important. This is because of the need to have cars fixed. One of the things that must be done before even commencing this type of business is learning all that is required to be known in the auto repairs business. This means that you will be required to go and garner some good skills in this light.
- Aquaponics Business
If you have been looking to start a business that is agriculture related, then you may want to consider starting an aquaponics business. This is one area of trade that sure can guarantee good returns on your investment. However, just before you begin to build this business, it becomes expedient that you garner all the knowledge and skills that you are required to, so that you do not start out on the wrong footing.
- Pizza business
Pizzas can make a pleasant meal. In fact there are people who are addicted to it. They could have it over and over again. This is why those who are in the business have continued to make good money. Opening a pizza business might be one of the best moves to make. This is hinged on the fact that there are a whole lot of people who are into the consumption of it. Starting a pizza business doesn’t cost a fortune, as you can start with some small amount of cash and then grow with it.
- Solar panel repair business
The solar panel repair business isn’t for everyone. This is because it has a very technical aspect that requires lot of patience and handwork. If you do not have a penchant for technology, then you may want to look elsewhere. However, if you do have a passion then you will excel in this trade.
- Consignment Business
The consignment business dates back from time immemorial. It is a very profitable business that can guarantee nearly a 100 percent profit. It is pretty easy to start and it doesn’t require an expertise. All you need to do is have zeal to want to pursue the business.
- Cupcake Business
There are cake addicts all over the globe and Nigeria isn’t left out/. As a matter of fact it is one of the countries where cakes are consumed. Therefore the American market would serve a great m
- Boutique Business-: Despite the hardship that may loom in Nigeria, people just love to look good. You can therefore, cash in on this and start a boutique business. You will need to determine where the things you want to deal in would be sourced from.
SOURCE: Profitable Venture