A start-up (profitable small business) refers to a company or project undertaken by an entrepreneur to develop, seek, and validate a scalable business model. Start-ups refer to new businesses that intend to grow large beyond the solo founder.
It’s not always easy at the beginning for start-ups. They require maximum patience, effort, hard work and resilience.
In this century, the need for multiple streams of income cannot be overemphasized. The economy is crashing every day and one needs to survive anyway.
By the way, we recently published a blog showing you 6 surest ways to make money and be independent. Our audience asked that we specify some businesses, and here is it.
Apart from the need to have multiple streams of income, some individuals are simply not cut out for “white collar” job. This is why most people venture into it.
Gone are the days when your income just depended on you finishing school. If you’re a graduate, see these tips on how to start life as a fresh graduate in Nigeria.
Getting a good niche can be challenging sometimes. The best way to get an appropriate niche is to look for a problem and create a solution. Identifying a problem and creating a solution is the first step to an established start-up (small business).
Embedded in this article are very good ideas for startups for those who are interested in starting a new business and are stuck with choosing their desired niches.
Below are 8 profitable small business ideas to make good income in Nigeria.
- Mini Importation
- Pickup/Delivery Service
- Blogging
- Catering/Culinary Service
- Affiliate Marketing
- Freelance Writing
- Beauty Service
- Laundry/Cleaning Service
MINI IMPORTATION
Gone are the days when we used to think that importation was only for the “high and mighty”. With the invention of mobile phones, and the internet, so many things have been made easier. Nowadays, you can import basically anything from any country of your choice with your smart phone.
China is the most favourable country when it comes to mini importation. And 80% of the things sold online in Nigeria are imported from there.
The aim of mini importation is to buy something for a cheap price and resell for as much as you can. Mini importation holds a lot of profit, and you can get as much as double of your capital after reselling.
PICKUP/DELIVERY SERVICES
This is gradually becoming a high income business. This business is very profitable these days.
Why?
More and more entrepreneurs are requiring the services of dispatchers to aid a smooth delivery process for their customers. It saves them the time and energy of doing it themselves.
Let’s say you charge 700-1000 naira per delivery. And you make 10 deliveries a day. That is roughly 10,000 naira daily, 35,000- 40,000 weekly and about 140,000 a month.
BLOGGING
This business can fetch you extra money on a daily basis and at some point generate money even while you sleep.
Particular blogs like lifestyle blogs, food blogs, entertainment/gossip blogs, etc with the right exposure and credible contents are capable of fetching real cash.
CATERING/CULINARY SERVICES
Food is one thing that has never gone out of demand. No matter the state of the economy or the price of food, people will always buy food.
Selling food online (if you don’t have a physical address) and offline (from your physical address) can get you to count thousands per day. And assuming you’re good at what you do, you’d be counting millions in no time.
One of the benefits of this business is that it needs little capital to start.
AFFILIATE MARKETING
If you’re naturally good with persuasion, this is definitely a business or career path you should consider.
You can decide to market other people’s products for a percentage in the sale. You can be an affiliate marketer online by marketing digital products or do it offline by marketing physical products.
FREELANCE WRITING
Freelance writing is one industry that has boomed considerably since the lockdown. If you have excellent communication skills then you should consider going into this industry.
Freelance writing cuts across copywriting, copy editing, content creation, etc. You can start this business with just your smartphone.
Sites like upwork, fiverr, etc. are favourable to freelancers with little or no experience.
BEAUTY SERVICES
Rendering beauty services like makeup, hair styling, braiding, manicure and pedicure, perming, fixing nails and false lashes are sure ways of making money as they have proven to be in high demand nowadays.
The whole industry of caring for yourself is a huge one.
Remember, wherever there is demand, there is money so it is very important to make use of the resources you have wisely and timely as well.
LAUNDRY/CLEANING SERVICES
This is another budget friendly business that could blossom into an empire in the nearest future.
You may want to start small from home by doing laundry for family, friends, neighbours, etc or start big by starting your own laundry/cleaning brand where you have workers who will handle the laundry. And also workers who will handle the cleaning aspect of the business.
Wrapping up
The key ingredient to a successful start-up nevertheless is CONSISTENCY. This is as important as your brand name.
For your small business to bloom into a big one, you have to be consistent in everything pertaining to it.
While this list of profitable small business to start is not exhaustive, they are the top 8 on my list. These small business ideas are not necessarily the best, but, they are tested and trusted niches that guarantee millions in the next five years if carefully plotted.
I hope this blog helped you catch an insight for a profitable small business to start?
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Maxwell is a Dietitian with passion for showing people hope. With nearly a decade experience helping people make key decisions on education and career, you can find him almost everywhere on this site. From answering admission and scholarship questions to creating tutorials and helping others live their best lives though nutrition. Connect with me on Twitter.