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Profitable Small Business Ideas in Nigeria

Nigeria is one of the best countries to start a business in Africa. The country has a large population that creates a large market for various businesses. You can invest in different business ideas in Nigeria including agribusiness ideas. Small businesses in Nigeria have employed thousands of people and you too can start one. In this article, we will provide you with some of the most profitable small business ideas in Nigeria.

1. Mobile Phone Accessories

The mobile phone accessories business is a fast-growing business due to the high demand for phone accessories. Many people currently have phones and this creates a demand for mobile phone accessories. Among the phone accessories in high demand include chargers, batteries, memory cards, screen guards, earphones and USBs. There are many businesses that supply these accessories in Lagos and you can source from them.

2. Internet Café 

Internet café business is a profitable small business idea to start in Nigeria. The demand for internet, printing, typing and photocopying services is high and you can reap a lot from this business. It is best suited for busy areas and where there are institutions that require these services like colleges and banks. You need to buy a printer, scanner, photocopier and several computers. You also need to get a reliable and cheap Internet Service Provider (ISP). 

3. Dry Cleaning Business

The dry cleaning business is one of the best small business ideas in Nigeria. Many Nigerians are formally employed and most of them don’t have the time to do laundry. As such, many of them prefer to take their clothes to a Laundromat. To get started, you need to buy washing machines and then rent a shop. Look for a location near households like in an estate. You can offer other services like ironing to attract more customers.

4. Car Wash

A car wash is also among the best business ideas in Nigeria. To ensure that you reap big from a car wash business, it is good that you start one where there is high car traffic. For instance, you can start a car wash near a bus stop, garage, or refilling station. There are many cars on Nigerian roads that have created a great demand for car wash services.

5. Daycare

With many parents formally employed, a daycare business is an excellent small business idea to start in Nigeria. Parents will be leaving their kids under your care as they go to work and pick them up in the evening. To start one, you just need to have an interest in kids and know how to feed them. You can opt to be preparing food for the kids or parents can be bringing food for their children. If you opt to prepare food, you can include a small fee in your charges. Ensure that your business premises are safe for the children. 

6. Fast Food Business

A fast-food business is also a good business idea in Nigeria. It is best suited for town areas. You can target the working class by locating your business near working stations. It is also a good business idea you can start near an institution like a college. The demand for food is high, especially during lunchtime since people don’t have time to prepare lunch. Make sure to prepare good food to attract and retain customers.

7. Cosmetics Business

The cosmetics business is a lucrative business idea, especially in towns, near households and institutions like colleges. Women are a good target for this kind of business. Make sure to stock a wide variety of cosmetic products like hair products, skincare products, make-up products and toiletry. Also, make sure to source your products from the right suppliers to ensure they are high quality. Customers will stick to your business if they trust your cosmetic products.

8. Barbing Salon Business

Barbing salon business is one of the most profitable businesses to start in Nigeria. Literary all men require hair services like shaving, haircut and hair trimming. Other services you can offer include hair dying and tracing the hairline. To make it in this business, you need to know different hair styling skills. Customers will keep coming back and refer their friends to your business if they like your barbing skills.

9. Hairdressing Salon

A hairdressing salon is also a profitable business to start in Nigeria. Ladies are often in need of hairdressing services, making it a good business to start. To excel in this business, ensure that you have mastered the skill in hairdressing and know a variety of hairdressing styles.

10. Car Rental Business

The rental car business is also a good business idea to start in Nigeria. The demand for car hire services is high since many people are avoiding the high costs of buying and maintaining cars. As such, many Nigerians prefer hiring a car to buying one. You can start a car rental business with one car and grow your business. Make sure to install car trackers and always ask for identification details before renting out a car.

11. Okrika Business

Starting an Okrika business is a profitable small business idea you can start with little capital in Nigeria. You can make profits worth double the buying price of second hand clothes. Some of the best places you can source clothes include Lagos, Kano, and Aba. You can start Okrika business with as low as N20,000 and start making good profits. To make more sales, you can advertise your second hand clothes online on Facebook or on WhatsApp.

12. Liquid Soap Production

The liquid soap business is a booming business in Nigeria, hence, it is a profitable business idea you can invest in. Households and businesses like restaurants often require liquid soap. You need some training to learn how to make liquid soap. The demand for liquid soap is high and if you make good quality soap, you will attract many customers. You can brand your soap so that customers can differentiate it from that of your competitors.

13. Poultry Farming

You can start rearing chicken for eggs in Nigeria, and make money from it. The demand for eggs is high, especially from restaurants. You can rear a wide variety of birds like chicken, ducks, turkey and geese for egg production. You may need to rear these birds in large numbers to make good money from poultry farming. Make sure to vaccinate your birds from time to time to prevent losses due to diseases. You can sell eggs to hotels, restaurants and institutions like hospitals and boarding schools.

14. Livestock Farming

Livestock farming is a profitable business idea in Nigeria, especially in rural areas. You can rear livestock for meat or milk. There are a wide variety of animals you can rear like cows, sheep, goats, and pigs. You need to have a grazing area or some land where you can grow animal feeds. You can grow animal feeds and from time to time, supplement the feeds with commercial animal feeds.

15. Gas Shop

Many Nigerians are use cooking gas in their households for cooking. This makes a gas shop a profitable business idea. Make sure to locate your business near households like in an estate.  Also, stock a wide variety of cooking gas so that customers have options. You can offer after-sale services like free delivery to attract and retain customers. 

16. Catering Services

A catering business is one of the best business ideas in Nigeria. Many Nigerians prefer to source food from catering businesses to avoid the work that comes with cooking. Outside catering has gained a lot of popularity and you can reap greatly from it. You can target corporate events and personal events like parties and weddings. You need excellent cooking skills to make it in this business.

17. Caking Baking

Cake baking is a profitable business to start in Nigeria. To succeed in the cake bakery business, target the young population. This business is best suited for areas with a high population. Many people especially young people love cakes, making it a profitable business idea in Nigeria. You can start a cake bakery business near households and near institutions like a college. 

18. Photography Business

With many events being organized in Nigeria, photography is a good business idea. You can target corporate events and individual events like weddings, graduation parties, and birthday parties. You can focus on both indoor and outdoor photography. For indoor photography, you will need to open a photo studio. Ultimately, this is a good business idea to start in Nigeria.

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