Doing business in Nigeria is
currently seen as one of the most lucrative business ventures, in today’s
global business ambiance. For the past 30 years Nigeria has been dependent on
its valuable oil resources, which in no doubt have brought great wealth to a
set of people who actually know its manipulation. However, as Nigeria’s
economic environment slowly changes, its economic structure diversifies to
subdue its dependency on oil business.
READ: OUTSTANDING 11 TIPS ON HOW TO NEGOTIATE A BUSINESS, JOB AND FEEL HAPPY
This change, substitution has opened up
the business opportunities for a new generation of entrepreneurs in Nigeria. Undoubtedly,
people, who can figure out business opportunities in Nigeria, purely and
vividly know that the oil industry, which is the apex and zenith hit business
of high profit is not the only business that you can enter and make money from.
If you are thinking of setting up a business in Nigeria and making millions of
Naira, you can choose from a variety of options. Here I present to you the top 10 legitimate cash flowing ventures in Nigeria:
1. Fast Food business – You need decent customer service, management skills and
capital in order to set up an eatery and make sure that everything runs
professionally. To acquire all these qualities to set up your own eatery business
does not in anyway compels you to go to school. All you need to do is to take
out time and engage yourself in either one or two month’s cattery program. It
all depends on you. You may set out on your own and create your own brand, or
buy in to an already established business franchise, such as Mr. Biggs,
Tantalizer, Tasty fried chicken. The enemies of millions of youths’ success out
there are nothing than fear to start, lack of mentor, little capital in account
and mostly solely dependable on government to supply their needs. You don’t
need to have millions of naira in your account before you start a venture. Start
with the little in your hands and the little shall become a little, then
millions of naira and dollars.
2. E-commerce – This is a very promising and high result yielding venture in
Nigeria but most people don’t know this, and the best thing is that, you will
have all the stuffs, tools and customers over the web. If you do not have the
required knowledge, you can collaborate with established firms to operate your
e-commerce enterprise. I must tell you there is nothing too clumsy in
e-commerce venture as to compare to physical enterprise. The reason is that you
have all the control; how you manage your products, price and selling pattern.
The benefits of e-commerce can never be over-emphasized. These are few of its
benefits: Low start-up costs, lesser time input, high results, changes can be
made instantly, the potential customer reach, and you can easily measure
results with cost affective online marketing.
How to start your e-commerce
venture: In the first place, what matters is what you have in mind to sell to
the public. For instance, you are an electronics dealer. Assuming you sell
laptops, TV Set, phones and others but there is no capital to rent a shop where
customers can easily locate you and make purchase. Now, all you need is just
website. Create a professional website for your enterprise; create subpages
that which contain your FAQ, about us, privacy policy, term and condition of
your service and which you may like to include. The reason for these subpages
is to let your customers know more and well about your venture and its
services. After that, start uploading your products to your website; place a
tag, price and button on each of the product where your customers can easily
click on the product and make purchase. In case you may not know how to create
a professional website; contact us on obeyafriday@gmail.com
and we will design one for you.
3. Construction business – Business opportunity, no doubt is radiating in Nigeria, and
so is our population. To support this growth, Nigeria now has a very lucrative
construction and housing sector. The line, type and size of projects are huge,
so there are plenty of opportunities depending on how much capital you can
invest. Setting up a construction business is not for any how person, but for
engineers who read this course. If running a construction business is not your
line, you can make a U-turn and become an affiliate, set yourself up as a local
dealer to supply them with building materials. The investment is not all that as
huge as you may think, but considerable investment, initial capital will be
required to buy and stock your first materials.
How to start as a local dealer:
Here, you are now like a nursing mother who always checks her baby to ensure
nothing happens to him. This business needs little of your time initially as
you build your new network with construction companies. It is your
responsibility to look for them, advertise your new set up business, and
convince them how profound and quality your products are, and always check and
ask them to buy products from you. These are materials you can as a starter
commence with: grinding machines, grinding disc or stone, electrodes, welding
machines, tiling rods, zinc, bots and nuts, spanners, nails, ceiling boards,
tiles, e.t.c. This looks somehow and loosing-probable-business, but I assure
you; there will be no shortage of business.
4. Hotel business - This is a goldmine industry if the appropriate measure and
strategies are taken, but the competition in this sector is quite and obviously
high. To be frank with ourselves in this sector; it is the most costly venture
to embark on due to its requirements. To launch and maintain your hotel you
will need a huge amount of money. It
takes planning, patience and hard work to start a hotel business. There is a
saying that, “A tree does not make a forest”. Obviously, a tree can never make
a forest for a forest is made up of different trees. My insinuation here is
this, since this requires a very large amount of capital and you seem not to
afford it all alone; what you need to set up this business is a set of master
minds group. It is a form of cooperative alliance, which has been the basis of
nearly every great fortune acquired by 95% men and women. When the minds of two
or more people are coordinated in a spirit of harmony, it is no doubt the
spiritual units of energy of each mind form an affinity which constitutes the
psychic phase of the master mind. Master mind can be seen as a driving force of
nearly every fortune. The reason you need the other person in this type of
venture is because of its huge capital requirement. It is true you may have the
idea, but you may not have the capital to set it up all alone; that is where
you need two or more other persons to set up Hotel business. A high-level of
customer service skills is also required to attract new and returning visitors.
How to go about this lucrative
business: Talk to friends, family members, wife or husband about your plans as
the case may be. You can also write business proposal to an organizations.
Ensure you cook and blend your plans with strong points that with no objection
can make the other persons believe in your business plans and benefits.
Certainly, no one wants to purposely throw away his or her money. Talking to
people about your business plans, or borrowing money for business execution is
a very delicate step to take, and it must be taken with care. For any one to
give you huge amount of money to run a business, he must really wants strong
conviction in order to be sure his money is not going to be lost.
5. Kerosene retail - You can set yourself up as a supplier to make your millions
as easy as anything. In fact, there are great business opportunities in Nigeria;
it’s just that we seem not to value them. There is no where in the world that
Kerosene is not used. Kerosene is used in most homes in Nigeria, and Africa due
to inconsistent power supply. This is one of the most lucrative and fast
earning business opportunities in Nigeria. In Benue state where I come from,
the major source of income of 95% of our youths comes from Kerosene retailing.
I was told by one of my friends that every Ukwo-Market day he makes
approximately thirty thousand naira (N30, 000). Now, let’s be mathematical
here. The arithmetic here is this: N30, 000 x 6 is equaled to N180, 000. Do you
know how I got N180, 000? Now, listen. We have thirty days in a month, right?
Yes. We have five days interval running of Ukw-Market day. Then, when you
divide thirty by five it gives you six, right? Yes. Then, multiply thirty by
six it gives you one hundred and eighty thousand. Now, tell me, if you are
making N180, 000 every month, are you not making head way in life? That is
awesome! Entrepreneurs have been known
to receive 100% returns on their initial investment.
It is a well known fact that you can
not be great to start, you can only start to be great. Start from where you are
with what you have. Nothing is too small to start this business. Stand up from
your comfort zone, lay you hands on something doing; at least anything to get
going.
6. RICE FARMING- I can read
your mind already. It is not what you are thinking. When I say farming, it does
not necessarily mean you must go into the farming yourself. As we all know,
money has the power. It rules and controls. In this business venture, for those
of us who live in the city, your money can work for you. All you need in the
first place is thorough research. Ensure you research into an area where Rice
farming production in Nigeria never failed a dedicated farmer. After you have
found where to cultivate your Rice, if you live in the city, then send down
your money to the villagers for clearing, raking, ridges, planting, weeding and
harvesting. For instance, in Benue state this will not cost you as much; and at
the harvest time, you will have your Rice in big quantities. Rice farming is the most profitable area in
Nigerian agriculture. Nigeria has a low local production of rice, but an
extremely high consumption rate, which leads us to import the majority of our
rice from overseas. Recent reforms in the Nigerian agriculture sector have seen
the government open up the sector for more investments to support small, medium
and large-scale farmers. The reason for this importation is lack of enough
production here in our dear country, Nigeria.
Meanwhile, you don’t need whooping
amount of money to start this. At least, with N50, 000, you can start Rice
farming production here in Nigeria. It is a well known fact that accumulation
of money in an account without investing it is just a wasting of money. Invest
your money on something tangible and reap tangible results. Stop heaping your
account without investment. It is true that money brings money; the fact that
you invest it the more money it returns.
7. Haulage services – What is haulage? Here, we are going to take a look at two
different countries’ based English definition of the word, “haulage”. Haulage
generally refers to the business of being a haulier (UK English) or hauler (US
English), also called haulage contractor, common carrier, contract
carrier, or private carrier, in other words, it means transporting goods by
road or rail for other companies or one's own company. Now, what you need is
the means to haul your goods your chosen companies. This, sincerely, to make it a standard type
will cost you if not whooping but, large amount of money to set up this
venture.
Given the poor rail transport system
in Nigeria, most of the goods are shifted by road and this makes the haulage
business in Nigeria extremely lucrative.
What you need to start up this
business:
1.Choose a name for your haulage service. E.g. OBEYA FRIDAY Haulage
Services Limited.
2. Get a vehicle.
3. Get an office.
4. Look for clients.
5.
Start your haulage service business immediately.
Where you purchase your goods
all depends on you. You can decide to be buying your goods from other countries
like Dubai, Cot noun, China or within your country, precisely in the local
areas where commodities are not inflated.
Commodities like tomatoes, peppers, orange,
pawpaw, pineapple and others are the very good examples you can easily start
with, without costing you much. You can decide to be hauling them; for this is
a very lucrative business in Nigeria as at the moment. If you are unable to get
a new vehicle, just go for a Tokunbo car; empty all the back seats and start
your business immediately.
8. Snail rearing – Snails, as advised by medical doctors, are very important
for human consumption and body system maintenance. It is true, majority of
people underrate this very business idea, but I tell you, it is very lucrative
in some parts of the country. Places like Adiga, Igwumale, Agula in Benue
state; are making unimaginable profits from this very business. This is one of
the business ideas in Nigeria that needs low investment as snails require
simple vegetation to feed on, and they reproduce at an alarming rate. You will
need to invest in housing and protecting them, as snails are delicate, and must
retain their moisture to survive. Housing and protecting them would not cost
you too much money as snails survive in muddy areas. At your backyard, you can
provide a small container, fill it with muddy sand and varieties of vegetable, and
then put your snails for rearing and breeding. The most important thing in this
business is that there is not much competition in the industry and you can
enjoy making profits without many challenges. Cool profits!
9. Car and machinery spare parts – without doubt, this is the most lucrative business in Nigeria’s
manufacturing industry as at the moment. As Nigeria’s economy grows, so does
our manufacturing industry. This line of business has solely been known to
belong to our Igbo brothers. That is where we got it all wrong. The fact that
the label has been given to the Igbo brothers does not stop them from making
their millions of naira from the business.
This has driven a rapid increase for capital
goods such as machinery, lubricants, spare parts, ball bearings and other mechanical
goods and accessories. If you can fix yourself in this business, there would be
no embargo and poverty in your future. The key is to find a good supplier from
abroad. UAE-based enterprises have emerged as the leading supplier of these
goods to many countries in Africa. There is this important secret everyone who
wishes to succeed in any ventured business should know. Before I proceed, I
would like you to answer this question, then you can without doubt know how to
swimming in wealth irrespective of other surrounding business competitors. Why
is it that in a surrounding where two or ten business competitors are selling
the same products; one always seems to have upper and blooming sales than the
rest?
Do you know why? The reason is very
clear. The way you packaged your products matters a lot. How quality your goods
are over the others can never be over-emphasized. The way you attend to your
customers also helps in growing your business over your competitors. To
summarize this; I would tell you that “the returning buyers or see no more
buyers is solely depends on your business behaviours.
Finally, find a good supplier; never
sell fake commodities, and also know that customers are always right, therefore
treat them with care.
10. POULTRY FARMING- This entails the rearing of chickens, ducks, geese, turkey
and such domesticated animals. The purpose of this could be either for egg or
meat. Undoubtedly, the demand for chickens and egg in this country can never be
over-emphasized. In fact, the demand for poultry is extremely huge, not only in
Nigeria but across the globe. This is one of the biggest business ideas any one
who wants to make cool money would like to fix himself in. You can begin with
around 50 chickens, and build it into a large-scale enterprise within a short
period of time. You can make money from selling chicken eggs, or chickens for
meat. This is a top business startup idea.
I am not a candidate of darkness. To
put it better, I am not a candidate of unclear-facts rather I am purely a candidate
of light. Where there is light, there is always brightness. As I introduced you
to this business idea, it would be very unfair if I do not inform you of its
advantages and disadvantages.
Here I present to you the short and
major advantages of poultry farming:
The sheer requirement of poultry
worldwide is very vast and ever growing with more people opting for a balanced
meal and poultry products becoming more affordable.
Poultry products are used in almost
every house in the world.
The demand for poultry products are
extremely huge; thereby yielding extremely increase in profits.
Requirement for poultry products is
ever increasing and the market is ever green. The choices available including
the healthy options like organic and free-range varieties are attracting more
consumers.
1 comment:
This is wow! I have been looking for something like this. Thank you sir. I just passed by; but now I must subscribe to your blog so that I go along with your updates.
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