Small businesses are gaining massive engagements these days because everyone needs diverse sources of income no matter how little. No matter how small a business looks, it has great potentials, and promises a steady income if you know what you are doing. For instance, if your job description says you only get paid by the end of the month, then you need a small business as a daily source of income. With little capital, you can start something that will sustain you for a lifetime alongside your initial job. Also, as a student, these small business ideas can also work for you. All you need to do is plan your schedule well so it does not affect your studies.
Asides having capital, you also need to have a knowledge of your choice. Don’t just rush into a business because you have the capital. Make enquiries.
Some small business ideas in Nigeria include:
- Cosmetics production
- Sale of Mobile phone accessories
- Mobile phone repairs
- Ice block production and sale
- Liquid soap production
- Rental services
- Mini importation
- Information marketing
- Affiliate marketing
- Website design and maintenance
- Food business
- Cloth designing and tailoring
- Uber driving
- Baking and small chops
- Laundry business
- Egg supply and distribution
Cosmetics production business
If you love looking good, then you can turn your passion into a business and earn from it. Doing well in this business requires proper research. Apart from the fact that you love to look good, you must engage in deep research to ascertain the solution to different skin problems, hair solutions and the rest. Researching may not cost you much as you can indulge Google or get familiar with people who are in the business already. Many young female students are into this small business to show you how lucrative it is. Just make sure you have a commendable quality content, your packaging will begin to grow with time. But first, deliver quality content. Be creative be costumer-oriented as you are just starting out.
Blogging is one easy small business to start and earn from but it takes time to start earning. However, if writing is your hobby, then you can turn that hobby into money-making machine. It is also a good way to launch an internet business. All you need is data, browsing phone or laptop and time. The best investment in blogging is your time. Give yourself wholly into writing, that way, you will build a consistent medium. With little or nothing, you can start up a blog, you can opt in for free blogs such as WordPress, Blogger, Wix and more. Or, if you have money, you can set up a self-hosted sever; increase your blog views with quality content, get their confidence, and monetize your blog with Google AdSense.
Related: All you need to know about blogging
Sale of Mobile phone accessories
This is a very lucrative small business idea in Nigeria especially for students. With as little as N50,000 saved using any saving platform, you can start up this business. You can rent a space if you have the cash but I’d you don’t, then you opt for the mobile fashion – carrying your products to places they are needed. As a working-class person, you can hire someone to run this business for you while you receive daily or monthly returns. That way, you are earning extra and also empowering someone financially. Common accessories in demand include batteries, chargers, memory cards, earpieces, pouches, screen guards, etc. With the rapid growth in mobile phone usage, you can also get into online importation with this business.
Mobile phone repairs
This small business idea helps many Nigerian young men to fend for themselves and save up for better business ideas. All you need to start this small business is a little training, a laptop, software tools, and some regular home tools (screwdriver, soldering iron, brush, battery tester et) and a place to attach yourself to with little marketing to let people know what you do. With as low as N5,000, you can buy a repair kit from any e-commerce store. Also, you need to develop a good relationship with quality accessories dealers. There is profit in this business because as much as people use phones, they must repair one or two.
Ice block production and sale
Due to the abundance of sunlight, heat, and the poor electricity supply, it is very difficult to maintain good stock of cold water and drinks. However, it is an advantage for ice block production. People need ice blocks to keep their market cold – water and drinks. Your target market includes your neighborhood, retail shops, restaurants, and mini bars. You can start with the little you have, all you need is a deep freezer, and a generator. You can also add up by getting an ice block making machine.
Liquid soap production
Liquid soap market in Nigeria is so large that popular brands are not meeting public demands again. Every household in the country needs this product for various domestic activities. So the demand is endless. There are so many homemade liquid soaps without branding at all, packaged in used plastic bottles being sold for as low as N50 and N100. With just little investment, marketing strategy, and good packaging, you can make so much money from producing liquid soaps and selling to supermarkets, households, retail shops, restaurants, home keepers, laundrymen, etc. However, you need to acquire training at vocational centers, government and non-governmental organizations, or even online.
This particular business idea can be capital intensive sometimes because people are constantly in need of things they do not possess. Some things you can contract out includes chairs, canopies, cutleries, cooking utensils, music box, ladder, etc. However, if you have an interesting range of expensive gadgets or equipment, you may consider exploiting them for side income. People can hire them on an hourly basis. As the business grows, you can add more items. Prepare a leaflet, advertise in your neighborhood, local newspaper, or online. And watch as you earn from it.
To grow with this small business idea, you must identify people’s demands. Search various e-commerce websites, get a procurement agent to purchase these items. The agent will then send them to you to sell and make your cash. Even with the depreciating value of Naira, people are still making waves with this business. You can import items like mobile phone accessories, cosmetics, fashion items, clothes, etc.
This is an internet-based small business that has taken people out of poverty in Nigeria. Are you very versatile? Do you know things people don’t know? Or can you present a popular knowledge differently? This is an avenue to make money by packaging information in the form of a report, ebook, video or audio and sell online. You could engage online resources to help you or outsource the writing on various freelance platforms. Buy master resell rights or private label rights books, rewrite and rebrand to your choice and sell. With just your smartphone or laptop, knowledge and writing skills, you can create audience and earn big online.
This is yet another small business that anyone can start with little or no capital. An affiliate marketer is one who helps companies or individuals sell their products and earn a certain commission. They can be digital or physical products. To start, you can sign up with as many affiliate programs as you can handle and use your affiliate links to promote the products through social media or be creating dedicated websites. Many young people in Nigeria have become millionaires through affiliate programs.
Website design and maintenance
All you need to start this business are programming skills and a laptop. Many businesses are going online these days. Even high net worth individuals, corporate organizations are now using online tools like website’s to promote their brands and personality. The trend has increased the demand for website designers. To earn well in this business, you must know how to design professional websites, create web graphics, build web pages, and upload web pages to the server. As you gain prominence, you can learn how to include domain name registration.
This small business cannot be overrated because food is one of the primary needs of man. Whatever the condition is with any human, he/she must eat. It is one of the most thriving business anywhere in Nigeria. One key to differentiate yourself is to choose a distinct menu, a niche, and a market segment. Remember, you cannot be everything to everyone. You can also own a restaurant and still be able to run mobile food business. However, you can start cooking in your house and engage in special deliveries based on order. Create a healthy relationship with different company workers, multinational organizations, etc. That will give you an opportunity to deliver food to them during lunch or within specific hours of the day. Although this business can be capital intensive, but you can start from somewhere. Follow notable food brands and see how they started.
Cloth designing and tailoring
Although this is a small business but it requires skills. First, you need to acquire tailoring skills. Go for both English and traditional wear tailoring, fashion and design training. Because fashion can never go into extinction, this business is one sure way to diversify your income. If your job description doesn’t give you time to acquire these skills, you can employ someone and fund the person, with that, you are sure of getting something at the end of every day or every month asides your salary.
In addition, you can also opt in for okrika bale business. The poor economy of the country has encouraged the growth of this small business. An average income earner can hardly enter into a boutique to shop. But, Okrika bale business is a good business to start anywhere in Nigeria most especially in the sub-urban and rural areas. You can shop from Lagos, Aba, Kano or Onitsha, and then sell for better rates. Everything depends on you but you can start with as low as N50,000.
There are different reasons why people choose to drive with Uber. Sometimes, it is because of the boss feeling it depicts, other times, it is because of the freedom to drive when and where they like. An average Uber driver makes between 80,000 – 120,000naira on a weekly basis. You can turn your car into an Uber when you are not working (maybe Ron weekends or after every day’s job) or you hire a driver and give him a car to drive and report back to you with daily or weekly income.
Baking and small chops
All you need to start this small business is baking skills and little capital to purchase tools. Everyone has a need for celebration, ranging from birthdays to weddings to anniversaries and get-togethers. You can start by baking and decorating right in your kitchen. Advertise yourself online, post pictures to showcase your business using the right hashtags. Quality should be your watchword, with that you can attract customers and expand.
In addition, you can include small chops because many persons prefer light meals. Aside from big events like weddings, birthday parties, small chops are preferable for boat cruise or small get-together. One good thing about small chops is that even with many people in the business, there can’t be a shortage of small chops. Make the difference with your creativity, packaging, and good delivery services.
Many people are overwhelmed with work and have little or no time to wash their clothes. With little capital, you can start a laundry business. You can start manually and save up before you get the necessary machines. From the comfort of your home, you can make money. All you need is proper knowledge on dry-cleaning, detergents, water, hangers and a washing basin. You can start this business with ease and watch how your finance begins to feel good.
Eggs supply and Distribution
Egg is widely consumed, first because of its dietary benefits, and because it is used to make many products such as confectioneries, cosmetics, soaps, cakes, shampoo, glue, hair conditioners amongst other things.
Egg supply and distribution is a small business that you can start on a small scale and grow into a big venture. To start, you must identify with poultry farms that produce good eggs and egg distributors. Then develop a network of buyers, you can start from your neighborhood. Without a delivery can, you can start egg business with less than N100,000.
These small businesses cannot be consumed in one article, however, you can start with any of the above mentioned small businesses. The economy is changing, therefore you must grow with it. Also, you can read up more business articles on this blog to help you grow your business.