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PROFITABLE SMALL BUSINESS IDEAS TO LOOK INTO IN NIGERIA – LUCRATIVE BUSINESS INVESTMENTS.
Contrary to popular opinion, becoming a successful businessman or businesswoman does not entail running a 4 year course in business school.
It also does not mean that your startup capital needs to be millions of naira or dollars before you can make it as a business man or woman.
There are many profitable small business plans and ideas in this world of ours that if practicalized will yield maximum profit in both a short and long run.
So what are these small capital businesses and investments and how do you go about them?
First and foremost, before jumping into any kind of business you need to have sat down and pondered over it.
Is it a part time business or do you intend running it for a long time, perhaps forever?
What capital do you have for startup, and will it be enough or should you consider a cheaper business venture?
Who are your targeted customers and how do you intend to advertise your business?
These are just some of the things to consider before delving into establishing your own business.
Profitable small business ideas to put into practice:
Selling retailed Engine Oil: Most people do not consider this kind of business asa profitable one but they are wrong.
Our recent chat with a mini trader who retails engine oil opened our eyes to the profitable nature of the business.
“In a day if business moves well I can return home with over 5000 naira profit. But it is not everytime the gain is high like that. I remember once when market was really bad, I made only 1750 naira profit that day” Miss Charity had replied when we asked how much gain she makes daily.
This is an avenue to look into. With as little as 20,000 naira you can begin retailing your own engine oil.
Snack Production (Chin chin, peanut, meat pie etc): Don’t say the number of people producing home made snacks is already too much. Don’t.
With a little packaging and rebranding you can make your own snack business stand out amongst billions.
The startup capital for this kind of business is relatively small. With good marketing skills you will be shocked at the amount of profit you will make from ordinary selling of peanut, meat pie, plantain chips, coconut chips, chin chin and the rest.
Selling Second Hand Wears – Okrika: A Rich friend of mine once told me something. He said if you needed quality shirts and trousers go to any Bend Down Select stand and you will get them there at cheap prices.
I wasn’t sure what to make of the statement until recently when I visited an Okrika shop in Anambra to purchase a pair of sport shoes. I came across a shirt I bought in a boutique for 15,000 naira. The shirt went for 1000 cash in the Okrika shop.
And you should see how customers clustered the seller.
If you must go into Okrika business make sure you buy nice and quality materials. For as low as 30,000 naira you can start your own Okrika business in any part of the world.
Another good thing about this kind of business is that you don’t really need to have a shop, you can do it right from home.
Snail Farming: Snail farming is becoming one of the most ventured businesses now. This is because very little money is required for startup, but the profit is huge.
Unlike poultry, snails don’t need any special food. They feed on rotten leaves and decaying substances. As a result you do not have to waste money buying leaves you can get from nearby bushes.
Starting up a quality snail farm might cost up to 50,000 – 60,000 naira.
The list is endless. Do not let capital prevent you from venturing into businesses of your choice.
Sometimes we on eremmel.com get tempted to help our readers by providing them with thanks-for-partronizing-us cash.
We give out 30,000 to FIVE lucky readers who have read our articles on small scale businesses and have come out with good business plans.
To qualify for this offer you must…
- Have read any of our articles on small businesses to start up with low capital.
- Have commented on the article.
- Have shared the article on social media to spread the word.
- Have drafted a business plan and have it emailed to us at email@example.com
Five readers with the best business plan will be selected an e-mailed.
Thank you for reading.
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