Viable Business Ideas In Nigeria – Nigeria is the most populous black nation in the world. This means that the country is a ready market for investors and business people looking for passive or active income. So how do you find business ideas that will generate the income you want?
The first place for unexpected business ideas in Nigeria is at trade shows and business exhibitions. It can be a local, regional or international fair. The fair provides a business opportunity for companies to present their products. When you attend a trade show, you see companies exhibiting their popular and new products. In Nigeria, popular fairs and exhibitions are Lagos Tade Fair, Abuja Trade Fair, Kano Trade Fair, Kaduna Trade Fair, Portharcourt Trade Fair, Jos Trade Fair, Agrofood Nigeria and many other fairs.
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Do yourself a favor by visiting the fair and visit the different stands and booths for possible business ideas. When you go to the fair, visit other stalls and booths in the shopping complex to get a feel for the products being sold.
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Another place to find great business ideas in Nigeria is the Supermarket and Business Complex. Supermarkets and shopping malls are excellent places to generate your next business ideas. My friend Tangfei Li, a Chinese woman, told me that she regularly visits supermarkets and business complexes to see what people are buying and research products for possible investment. She used this method to generate and share insightful business ideas. Popular supermarkets and business complexes are Shoprite, Sahad Stores, Nekt Cash & Carri, Nekt, Neighborhood Centers, Banek Plaza, H-Medik, Area 1 Shopping Center and many other places.
Try visiting supermarkets and business plazas in your neighborhood today and be thoughtful in your search for business information about your interest.
The third place in Nigeria to find profitable business ideas is the local market. It’s an informal business environment where you see a lot of buying and selling every day. If you have experienced these markets in the past, you will understand what I am saying. Popular local markets in Nigeria are Idumota Market, Aba Market, Vuse Market, Garki Market, Idumota Market in Lagos, Kano Central Market, etc.
Finally, the fourth place to find profitable ideas is a cooperative association. Once you have a cooperative association of your choice, you can identify business ideas based on their operations. A significant cooperative
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In short, the four unexpected places to find profitable business ideas in Nigeria are trade shows, business fair exhibitions, supermarkets and malls, local markets and the last place is cooperative association. Start a free trial and enjoy 3 months for $1/month on select plans. Apply now
Contrary to popular belief, there are actually many ways to start a business that allow you to focus less on logistics and upfront costs and more on getting your ideas off the ground. Let’s get over the first major mental hurdle “I want to start a business but I have no ideas”.
These 26 small business ideas are a great starting point for startups, startups, or anyone with a busy schedule, and they let you get down to business without having to give up everything.
To help you find inspiration to get you started, we’ve compiled a list of 100+ in-demand business ideas, divided into categories such as fitness, clothing, and gaming.
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Buy inventory, store it, pick it, pack it, ship it. Inventory management is a big responsibility when running a business.
Dropshipping is an easy, cheap business idea to start and the first of our good business ideas. Dropshipping is a fulfillment model where a third-party supplier stores and ships inventory to customers on your behalf. It’s one of the best businesses to start because it’s small, hands-free, and scalable.
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You don’t have to handle any of the products yourself – you just need to make sales and forward orders to your supplier. In fact, it is one of the fastest and cheapest businesses to start.
You can curate products from one or more vendors into your own online store under a theme that focuses on a specific niche, such as gear for yoga enthusiasts or water bowls for dog owners. When a customer buys a product from you, the order is sent to your supplier, who fulfills it on your behalf. However, you are still responsible for your own marketing and customer support.
There are local and international suppliers you can work with, as long as you can build a relationship with them built on trust — an unreliable supplier will reflect poorly on your brand.
Dropshipping is a great way to test a product’s market fit and start a business before investing in your own original products. Just be sure to always order a sample for yourself to ensure that your supplier is reliable and that the quality of the product is suitable for sale to your customers.
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Another dropshipping model, print-on-demand, puts inventory, shipping and fulfillment in the hands of a third-party supplier. But unlike the above dropshipping business idea, here the focus is on customizing the product with your own design to create something original.
T-shirts, hats, phone cases, sweatshirts, skirts, bags and more become canvases for your creativity. You can come up with witty slogans for developers or references that resonate with cat owners – if there’s passion and pride in the community, there’s a potential t-shirt business you can start.
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Even if you’re not a designer, you can find someone to work with using freelance sites like Fiverr, Upwork, Dribbble, or 99Designs.
With many print-on-demand services, you pay per product, so the base price per unit will be more expensive than if you ordered in bulk. But the advantage is that if a particular t-shirt design doesn’t sell, you still haven’t paid for the item (just the design, if you ordered it).
You can even use templates for t-shirt models so you don’t have to spend extra money on a full shoot for each new design.
There are a number of print-on-demand platforms you can work with, many of which can be integrated into your store for seamless order fulfillment. However, be sure to always order a sample of your product (often offered at a discount) to make sure your custom products look good.
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A book is just another type of product when you think about it. As such, you can create one to meet a specific market demand.
Cookbooks, picture books, comics, poetry books, photography books, coffee table books and novels – if you have the knowledge or the creativity, there are a range of original books you can bring to market. The options are endless – that’s why it’s one of the best small business ideas to get started.
Print on demand is a relatively safe way to test the waters and start self-publishing. It also gives you control over the quality and appearance of your book.
Lulu xPress and Blurb are popular platforms for creating, ordering and distributing your own books as physical and digital products. You can also sell it on third-party marketplaces like Amazon or Powell’s.
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Although you can order one book at a time, costs naturally go down when you buy in bulk. Consider reselling or crowdfunding your book idea to ensure demand and guarantee a certain number of sales so you can feel confident when placing a bulk order.
Starting your own book can be a great way to monetize a blog if you have or want to start one.
Digital products like music, courses, podcasts and templates are unique on this list of low investment small business ideas. Unlike the others, they are not tangible. There are no recurring manufacturing or shipping costs to worry about, so your margins can stay high, making it once again a no-brainer to be one of the best businesses to start with.
The trick is figuring out what makes a good digital product. What is useful enough that people are willing to pay to download it?
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The answers range from original instrumental beats to photos that can be licensed to other creators to information products and templates that help people improve their skills in a specific area.
If you have talent that can be turned into a digital product, consider packaging it into a new revenue stream.
Has a free Digital Downloads app that allows you to offer digital products in your store just as easily as physical products.
If you’re artistically inclined or know your way around a camera, you can ship using a print-on-demand business model to let others physically own a piece of your work. Just make sure you have the rights to the content you want to print or that you’re using public domain assets
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