With the increasing rate of unemployment in Nigeria, one will agree that starting up a business is the wisest journey to embark on. There are a thousand and one businesses that can be done, but not all of them stand a good chance of turning out well.
If you have been nursing the idea of investing in the country’s economy by creating jobs for yourself and other Nigerians, this list will help you make a good choice of what particular kind of business to get into that will guarantee a good profit depending on the amount of start-up you can raise.
To help you get a better perspective, here are top 20 businesses you can start-up in Nigeria and you’ll be sure of making millions in no time. The list is not a randomly selected bunch of businesses, they are carefully selected high performing and time-tested business ideas you can rely on.
Some of them require a little capital to set-up, while others are not cost-effective, all the same they are profitable.
1. Sachet Water Production
An increasing number of Nigerians depend on sachet water for drinking. Although there are several companies that produce sachet water in Nigeria, the demand for the product keeps getting relatively higher than the supply, therefore there is room for more sachet water producers.
This business is capital and labor intensive but it is worth venturing into, because it has a high profit margin of over 50%, especially if it is well-managed, and the product is widely distributed. Since no one can do without drinking water, you can be sure your business will do pretty well if it is well taken care of.
2. Laundry/Dry Cleaning
Everyone enjoys wearing clean clothes, but not everyone enjoys the process of making those clothes clean, and this is where you come in. Laundry business is a small-scale business that can be established at the back of your house and requires small capital to establish. With more Nigerians getting busier and some lazier by the day, this business can fetch a lot of money in a short while.
You can also set it up in a big way to gain rich customers who dry-clean expensive clothes and pay more. That requires a handsome amount for purchasing the equipment needed, nonetheless, the basic materials needed for this business are water, detergents, buckets, pressing irons, hangers and a couple of drying ropes and pegs.
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3. Poultry Farming
Raising domesticated birds such as chickens, ducks, turkeys and geese, for the purpose of meat or eggs for food, is one successful business venture. This business has been making average Nigerians rich in the last decades, and foreigners have seen its lucrative nature and are coming in to invest in it too.
If you start with 1,000 chicks and manage your birds properly, by the end of the first year you must have sold over 2,000 birds and a thousand eggs, and still have more to sell for the festive period.
4. Making of Fruit Juice
Because everybody wants to be nourished and look fresh, Nigerians drink fruit juice more than any other people in the world. This is one reason why companies like La Casera and Chi are making billions of naira everyday.
The country is blessed with various fruits; mangoes, oranges, pineapples and banana, especially in states like Benue. But a lot of these fruits go to waste due to lack of preservative methods. Although this business is capital-intensive, one can set it up in a fruit producing state to cut down production cost.
5. Creche, Nursery and Primary School
Education is a necessary door that every Nigerian must pass through. No matter how many schools exist in a town, there will always be room for another one – a cheaper one with high standards of learning coupled with a conducive environment. School business has no rival among its mate.
One area to start from is the creche; it is easier to handle and can grow to add Nursery and eventually primary to the scheme. You don’t need to own a big building for it. You can start from as little as a room in your house and expand with time.