What business to start in Nigeria? Which one is the most cost-effective? Find out top ten the best ideas for Nigeria!
Here are the most profitable business to start in Nigeria:
1. Real estate
This is one of the most thriving businesses in Nigeria because the properties never depreciate. For example, if you buy property in July, it will increase in price as soon as in December. So if you want to earn some money, try buying, developing and then selling the properties.
2. Food and catering business
This business is very profitable especially in big cities, such as Lagos. Because usually people there don’t have time to buy and cook food, so they go to the restaurants or fast food centers.
If you invest in the food and catering business, you will have at least 200 percents return on your investments every month.
3. Cleaning services
The business idea related to cleaning services includes establishing of the laundry, office cleaning, car wash, home cleaning and dry cleaning services.
4. Event management
This idea would work best in large cities because a lot of parties are organized there. For example, in Lagos, about 1 billion nairas was spent on parties by city residents.
5. Travelling agency
Nigerians like to travel very much; therefore demand for oversea tours is increasing. More and more travel agencies are appearing every year. The duties of such agencies are to book tickets, process visas, reserve hotels and plan the trip.
6. Car and cab hire business
This business will be very profitable in big cities where there are many tourists. Cab and car hiring companies are developing in Nigeria robustly. A cab driver earns about ten thousands of naira every day.
7. Fashion design
Nigerians enjoy wearing beautiful clothes. Actually, this is a basic need of every human. Recently people in Nigeria changed their mind regarding local designers. Therefore fashion design industry turned to be a very profitable business in Nigeria.
8. Employment agency
Employment agencies earn quite good money from the service of job provision. The unemployment rate is quite high nowadays in Nigeria. Therefore employment services are highly demanded.
9. Fitness centre
Nowadays sport is becoming more and more popular in Nigeria. Many people go to fitness centers because they want to keep fit. It should be noted that this business is mostly capital intensive.
10. Babysitting or day care
The problem in big cities is so that over ninety percent of mothers in Lagos are too busy to be with children. Therefore, they hire babysitters and day care to help them. On the average, a day care center with around fifteen children gets ten thousand of naira from every child.
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