Lucrative Small Scale Businesses in Nigeria

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Nigeria is a country of many opportunities, including several highly lucrative small scale businesses that entrepreneurs can try out. Small-scale businesses require little capital to start but have great potential to grow and improve a country’s economic development. Small scale businesses, commonly known as Small and Medium Enterprises (SMEs) are highly encouraged and embraced in Nigeria. Consequently, they have created jobs and greatly reduced unemployment levels in the country. We are going to give you the best examples of small scale businesses in Nigeria.

Car Wash Business

As long as Nigerians keep buying vehicles, there will always be a need for car washing stations. If you want to run a successful car wash, you will need to choose your business’s strategic location. A car wash will make huge returns if it is located in a business center, near a mechanic’s shop, or next to a restaurant or a bar. Water availability is also an essential factor to consider when setting up a car wash. Other things to invest in include; washing machines (electric pressure machines or petrol/diesel-powered washing machines).

Hair Styling/ Barbing Business

The hairstyling and barbing business is a highly lucrative small scale business in Nigeria since people will always seek hairdressing and hair cut services. Being highly competitive, you will need to have excellent customer service and always stay up to date with the current hair trends to remain on top of the competition. Offering perfect customer service is one sure way to market your business.

Sale of Mobile Phone Accessories

There is rapid growth in the use of mobile phones in Nigeria. As such, venturing into the sale of mobile phone accessories with as little as N50,000 will make you good returns. The mobile phone accessories you can sell include memory cards, screen guards, battery chargers, batteries, earpieces, among others. It is best to get quality accessories from cheaper suppliers so you can easily sell at a profit.

Makeup and Head Gear Tying

Women love to look nice and to start a makeup business can be very profitable. You will only need to have excellent makeup skills and purchase makeup products. Offering excellent makeup services will help you get new customers through referrals.

Nigerian women are known for wearing beautifully tied headgears. It shows that headgears are quite popular in the country. You can make huge profits in this business without having to invest largely. What you need are headgear tying skills and keep watching out for events. You might also need to invest in pins and business marketing on social media platforms.

Affiliate Marketing

Affiliate marketing is a lucrative small scale online business that you can start with little or no investment. Affiliate marketers help companies or individuals sell their products and are paid in commissions for every product they help to sell. Social media platforms and websites are essential in product promotion.

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Computer Training

Computer literacy is important in daily activities. Even with the development of technology, there are young people and adults without basic computer skills. This brings the need for computer training at a fee. You can invest in several computers, or the learners can buy their own laptops.

Rental Services Business

The rental services business in Nigeria is booming and many entrepreneurs are making massive profits. People like to party and have fun. As such, you can invest some little capital into the purchase of party materials such as decoration materials, plastic tables, coolers, plates and spoons, plastic chairs, tents, and other materials. Once you purchase these materials, market your business and let people know that you are renting out materials for events. It is best to put up strict measures concerning maintenance to avoid breakages and losses.

Blogging

Blogging is an excellent online business for people who love to write. You will need to invest in a laptop, have a fast internet connection, and perfect your research skills. Depending on your budget, you can decide to set up a free blog with WordPress or set up your blog on a self-hosted server. Once you are ready, create exciting content to post on your blog. Employ the right marketing strategies to drive traffic to your blog. You can monetise your blog using various methods such as affiliate marketing, sponsored content and Google Ads.

Richest Nigerian bloggers in 2020 include Linda Ikeji (net worth 3.2 billion), Jide Ogunsanya (net worth $3 million), Uche Eze Pedro ($4 million), Noble Igwe (net worth $2 million).

Catering Services

Offering catering services for events and celebrations in Nigeria is highly lucrative. You can provide party foods such as coconut rice, jollof rice, semovita, ofada rice, amala, pounded yam, salad, and many other foods depending on a customer’s choice. All you need in this business is excellent catering services and high levels of hygiene. In most cases, your customer will pay for the ingredients needed, and all you have to do is provide assets such as cooking utensils.

Phone and Computer Repair Services

Phone and computer repairs are highly profitable since many Nigerians owning phones and computers know nothing about repairing them when damaged. It is essential to learn the necessary technical skills in phone and computer repairs to offer genuine services. You will need to invest in software tools and common tools such as battery testers, brushes, and screwdrivers.

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The Small Chops Business

Small chops include potato chips, sausage rolls, meat pies, goat meat, doughnuts, chicken strips, fish rolls, samosas, fish pies, spring rolls, and peppered gizzards. Nigerians love to eat small chops on picnics, birthdays, conferences, and even weddings. Perfecting on your preparation skills and customer service will keep your customers coming back for more.

The Bakery Business

Setting up a bakery in Nigeria can earn you good returns. Depending on the need in the market, you can decide what you will make in your bakery. Cakes, sandwiches, and bread are the most common bakery commodities in Nigeria. You can make raspberry cakes, coconut cakes, fruit cakes, coffee cakes, spiced cakes, or cupcakes.

Nigerians love to eat bread combined with beanballs, tea, honey, mayonnaise, and butter. You will need to be creative to stay on top of the business since the bread business is highly competitive. You can do this by baking different bread varieties, including milk bread, coconut bread, chocolate bread, sausage bread, and whole-grain bread.

The sandwich business is also thriving in Nigeria. If you want to keep your customers coming back, prepare your sandwiches with fresh vegetables, fresh meat, and tasty cheese.

Cyber Café Business

Even with the emergence of affordable internet-enabled smartphones and cheap internet bundles, cybercafés are still profitable in Nigeria. You can offer services that smartphones cannot accomplish, such as photocopying, printing services, document scanning, binding, lamination, and many other services. You will need to invest in the necessary equipment and ensure to provide excellent customer service.

Tutoring

Full-time or part-time tutoring can make you good money in Nigeria. If you have a passion for teaching and are good at a certain subject(s), you can tutor students who have difficulty in that subject. With the increasing desire to acquire knowledge, many students are likely to seek and pay for your services.

Selling Ice Blocks

Being located within the tropical climate region, Nigeria is quite hot. The frequent power shortages make it impossible to store cold water in refrigerators used for cooling during hot days. It brings the need to supply ice blocks in households, restaurants, shops, and bars where cold drinks are always on demand. You will need to invest in a generator and a deep freezer to begin your business.

Conclusion

You can venture into any of the above small scale businesses in Nigeria as long as you can access funds, have the necessary technical-know how, and a ready market. You will also need to acquire the necessary business licenses and permits to run a legal business.

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