If you are here, then chances are you are interested in ideas for a small scale lucrative business in Nigeria. Compared to most other nations on the globe, being in Nigeria makes it simpler to start a business.
However, wherever you choose to run a business, choosing the right business opportunity is important. Listed here are the top seven small business ideas that you can launch in Nigeria with little to no capital.
One characteristic of the Nigerian corporate culture is its strong focus on individual initiative and success. Individual accountability for performance, professionalism, and expertise are highly valued. This is why most small scale lucrative business in Nigeria succeed, since the owner of the small scale business gives all it takes to succeed.
In general, there are three ways to launch a small business. You are either purchasing a franchise, beginning a brand-new business (whether large or small scale), or purchasing an existing company. If you’re interested in beginning from scratch, read on to have a look at the list of our small scale lucrative business in Nigeria.
Top Seven Small Scale Lucrative Business In Nigeria
There are lots of small scale lucrative business in Nigeria, and we have listed seven of them below.
This is one of the top small scale lucrative business in Nigeria. We recommend this great small business opportunity in Nigeria to anyone, especially if they have the right skills or are interested in the beauty industry.
If you’re establishing a women’s hair-styling business, you may get started or launch the business with minimum funding. But the financial requirements may be different if you are starting a men’s hair-styling business (or a barbershop). Starting a barbershop may demand a little bit more money than opening a women’s hair salon.
Most people who started off in the women’s hair-styling industry did so from their balcony, a small open area, or even beneath a tree.
You remember when you were growing up, little boys and girls would be sent to Mama Bisi’s house or Uncle Tosin’s “under the shade” area to get their hair cut or weaved for school. Can you relate?
It’s possible that this small scale lucrative business idea will exceed expectations and may bring more success than people think. As businesses expand, the majority of the people in them hire employees and apprentices to help them in their shops.
However, I must point out that the only way you could work as a hairstylist, barber, or wig maker and earn cool money without renting a shop is by being smart, approachable, and asking your regular clients (relatives, neighbors, friends, or former coworkers) for recommendations, especially when their hair speaks for you.
Production of plantain chips:
Plantains, whether fried, boiled, or roasted (boli), are loved by at least one person in every household. This is why this business is one of the best small scale lucrative business in Nigeria.
Since there’s at least one lover of plantain chips in every household, picture yourself starting a plantain chip business in your neighborhood and selling to one person in every household.
Distribution or delivery of the products shouldn’t be too hard. You could get young people to help distribute your stock at a fair price, ensuring that everyone is happy to receive their share. You could begin by purchasing a bunch of plantains to fry, carefully packaging them, and selling them for a reasonable price of # 50 or # 100.
Want to grow this small scale lucrative business in Nigeria fast? Add groundnuts, chin-chin, and peanuts as an alternative. You could also contact people who sell to nearby schools and offer to supply them every day during the school year.
Another small scale lucrative business in Nigeria is dry-cleaning. You may start your laundry business right away with only your bowls, detergents, iron, and pressing board, and as your business grows, you can add a washing machine and dryer if you want to.
So, if you don’t mind washing extra clothes to make money, you might think about working as a washer-man for a while before eventually purchasing your washer and dryer.
Are you waiting for that big financial break? Being a food distributor is another successful venture you may launch while you’re waiting. Everybody will and must eat. This is why food distribution is one of the best small scale lucrative business in Nigeria. Especially if you have a vehicle you can use for distribution or can hire a car, truck, or bus.
Due to the fact that no supplier is willing to provide items in significant quantities on credit at this time, you may have to get some startup cash for this business. With enough commitment, this food distribution business has the potential to be highly profitable.
The main products you might distribute include bread, bottled or sachet water, drinks, and stationery. However, before you spend heavily on your business, make sure you look for shops or consumers that you can serve on a daily basis.
Street sellers, kiosks, roadside businesses, etc., are always a good place to start, allowing you to avoid going out of business and losing your investment.
Computer Centers for SMEs:
Offices, schools, and places of worship are always looking for employees or freelancers to lessen the stress of typesetting and printing enormous files. These businesses will always need these services, which is why this is one of the most profitable small scale lucrative business in Nigeria.
If you have a laptop or desktop computer, a printer, and possibly a generator (to prevent power outages), then this could be the perfect business for you as you already have most of what you need – all that is left is the desire to start.
Many schools, particularly those that are in the academic year, outsource their typing and printing work, so you can take advantage of this.
Exam questions, meeting minutes, bulk proposals, and letters all need to be typed, so it would be a good idea to contact local schools or workplaces to advertise your services. If you are also competent in graphics design, you will earn even more money.
This is one of the few small scale lucrative business in Nigeria that doesn’t require startup capital. Home services or deliveries include grocery shopping, food delivery, cooking, cleaning, and many others, which have become commonplace, much like the laundry and hairdressing industries.
Customers look for people who will provide these services at a fair price. If people frequently compliment your meals because you’re an excellent cook, you could provide your cooking services as a home service, teach others how to cook, clean homes and offices, run errands, or work as a personal shopper for groceries.
Remember that there is always a need for logistics. If you can turn your downtime into something productive, you might one day operate your own logistics business.
Profit from Your Interest or Skill:
Aside from the other small scale lucrative businesses in Nigeria above, you should keep in mind that your expertise may be your primary source of income, but for it to be successful, you need the correct association, location, and maybe, funding.
There might not be manna from heaven again, nor hundreds of millions of dollars falling on your laps, or money to rent a shop. Instead, you may want to start small and watch it grow into an empire with discipline and hard work.
So, which of our seven small scale lucrative business in Nigeria are you willing to try out? Which businesses do you think are cool but weren’t included? Do let us know in the comment section below.