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10 Profitable Businesses with little or no Capital in Nigeria

10 Profitable Businesses with little or no Capital in Nigeria

The decision to start a business and sustain it is a great opportunity to make good money out of the idea. These business ideas you can start now in Nigeria promises to be a bombshell with diligence and sustenance. We’ll be sharing with you the exact business ideas that are very profitable in Nigeria. And of course, some of them won’t stress you out as you think but comes with a high success rate. You can now be a business expert from the comfort of your home with the right mindset and determination. Whether you are an employee with your job still intact but also wants to have multiple income streams, or you are a student who has decided to venture into a business during holidays and strikes, now is the best time to start a lucrative business in Nigeria with average capital.
1. Cake and Cupcake Bakery
In our society today, events are endless – from weddings to birthdays, anniversary and end of year parties. This presents a huge opportunity in the baking industry. Baking, decorating, and selling unique cakes and cupcakes for such occasions is a great business idea for the hobby baker to venture into, and one that is potentially lucrative.
Without a doubt, baking is a very lucrative business to start in 2021. You can get started on a very small budget by baking and decorating your cakes right from the comfort of your kitchen. An effective marketing strategy is to forward your cake samples to interested parties and party planners to ensure they partner with you when the need arises or you can showcase your works on Instagram and Facebook using hashtags that drive sales.
2. Sales of Mobile Phone Accessories
According to Statista, the number of phone users in Nigeria is projected to grow to more than 140 million in 2025. There are likely chances of the mobile phone owners to need one or two phone accessories now and then. Selling mobile phone accessories can’t be a bad idea. Sales of mobile phone accessories is a very profitable business in Nigeria today. Amongst the common accessories in demand include, batteries, AirPods, battery chargers memory cards, earpieces, pouches, screen guards, etc. You can partner with vendors at Computer Village (Lagos) to get your supplies or you can get them from online stores. With Phone Accessories business you can easily start an online importation.
3. Blogging
Blogging is one of those businesses that make you your boss. You work at your time, whenever and wherever you want. You just have to choose a profitable niche and also where your passion lies to be able to sustain the business. With just need a laptop and a good internet connection you can start a profitable blog in Nigeria. Also, every blogger wants their post to be found on search engine result pages without promoting the content all of the time, hence you would need to acquire top digital marketing skills (SEO) for search engines like Google or hire the services of an SEO Expert in Nigeria. Set up your blog on a self-hosted server; publish quality content, drive qualified traffic to the content, get their confidence, trust and then monetize your blog with Google AdSense, affiliate marketing, display advertisement, or sell quality information products such as ebooks, etc.
4. Uberpreneur (Driver for Uber)
We all know that Uber is really common in places like Lagos and a few other parts of Nigeria. Most people choose to become Uber drivers because of the freedom that comes with it. Besides, it is one of the lucrative business ideas you can start in Lagos and a few other parts of Nigeria. Once you have a car, then you have all it takes to start. All you have to do is to become part of the uberpreneurs and start making money by getting your commission on each ride. This is an opportunity to manage your schedule and work with the time that best suits you. There are Uber drivers that do full time and others drive at night or during the day.
5. Freelance Content Development/Ghost Writing
What business can I start with 5k in Nigeria as a student? Do you consider yourself a content writer? Then setting up your freelance content development could be a lucrative side business you can start today even when you have a full-time job. Freelance content writing business you can start and make money online in Nigeria with your computer and source of internet, this means you can be ghostwriting for others and be making your money. You can develop content at your convenience, whenever you’re free. And you’ll be getting paid, either monthly or weekly. A ghostwriter is someone that writes a copy of articles, speeches, blog posts, email newsletters, web copy, etc and is not given credit for the work. The credit goes to your client or the person that hired you. The ghostwriter definition states that none of your work is credited to you. Ghostwriting is one of the hidden businesses you can be a part of in Nigeria.
6. Mobile Food Business
Food is a fundamental need for the existence of man. Whatever class a man belongs in society, he needs food. Hence, the food business will always be profitable in Nigeria. Most people especially bachelors do not have enough time to cook at home. This is when the services of a Mobile food vendor is essential. The mobile food vendor might deliver the food in the office or any chosen location. People eat every day, and most times, junk food is always out of the equation. As a mobile food vendor, try as much as you can to be different by focusing on a niche and scaling at it. Then your customers will always come back and even recommend you to others.
7. Cosmetics and Hair Saloon
If you are a beauty freak, then going into cosmetics is the best bet. However, the niche is an ever-changing one which implies that you will need to always keep up to date with the trend to stay relevant. Cosmetic and hair salon is a very profitable business in Nigeria and every part of the world as people naturally want to look good. You could open a unisex salon and have a team that services the needs of both male and female customers. You can also go into sales of cosmetics and hair materials or even the equipment.
8. Boutique
The fashion industry is one powerful sector that will always be vibrant in any economy because all over Nigeria and the world at large, fashion is ever-evolving due to the huge and diverse interest in styles and want, people have a basic need for clothing. Hence, starting your boutique is a lucrative business idea to launch in Nigeria. Starting a clothing shop boutique business is a profitable business here in Nigeria especially if you focus on ladies wears. Ladies love fashion and styles, it is not out of place to say that it is a business that will interest you and fun to grow as you expand. When you purchase cloth for N3,500 in the market, you are likely to sell at N4,500 – N5,000, with a profit of N1,000 – N1,500 at the spot. Ok, let’s not be greedy. So, let’s make it N4,000, if you make N500 per sale and have 10 sales per day, you will make N5,000 for that day.
9. Daycare Center
There will always be the need to make a living even after giving birth to children. Hence, it is a business you can start today if you are looking for startup business ideas in Nigeria. The services they render are indispensable. If you love taking care of kids, then starting a daycare centre is a great decision. One important thing to note before starting this kind of business is that you’ll need to register it properly to avoid getting into problems with the authorities.
10. Affiliate Marketing
This online money-making opportunity is a profitable business in Nigeria anyone can start with little or no capital. An affiliate marketer helps sells a product that he does not necessarily own and earn a certain commission on that. The affiliate products could either be in form of digital or physical products. You can sign up with more than one affiliate program as your capacity can carry and use your affiliate links to promote the products through social media or by building dedicated websites to drive traffic and generate quality leads through SEO. One of the most popular Affiliate Programs in Nigeria is Expertnaire. Many people in Nigeria have become millionaires through the Expertnaire affiliate program.

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