Are you looking for the right small business ideas in Nigeria to start in 2020? If yes, then you’re at the right place.
In this article, you’ll learn the 18 profitable ideas you start right now with little to no capital.
With the right determination, focus and tenacity you’ll be building your dream business from scratch and grow it up to your desired position.
Quick tips: Your goal doesn’t need to be like everyone’s. Most small business owners and startups are dreaming to become the next Facebook or Cocacola (or perhaps to become a household name) but you don’t need to be like that.
You should figure out the amount of income that will enable you to live the lifestyle you want and then work on your small business until you reach that point.
Now, let’s dive in.
Farming is one of the very profitable small business ideas in Nigeria and I’m glad that entrepreneurs are now taking proactive measures in this field.
Most people don’t want to venture into farming because of its overhead cost and time needed to yield profit but you can partner with an Agro Investment platform to bridge this gap.
There are many farming businesses you can delve into ranging from fish farming, poultry cattle rearing, crop production and more.
All you need to start your photography business are skillset, a camera, and sometimes studio then you are good to go.
Photography is a common skill you can pick up and learn in virtually any part of Nigeria. It is also a business that moves fast in Nigeria and you can quickly scale up.
3. Food Production
Some businesses have products called “EEE”, which means essential for everybody every day. And the food is very essential for everyone on a daily basis.
Foods are not difficult to learn and you can get started with very little capital in your local community.
Also, you don’t want to venture into just any food production but rather choose the one you’re good at or just enjoy producing.
Can blogging be considered as small business?
Of course, blogging can earn you $500+ on a monthly basis and you need to put enough time into creating and growing your blog.
Your blog does not need to be like every other one other there. DremiJane is a blog about poets and you can also create a video blog.
As a blogger, you’re not limited and you can use virtually any format for your blog and grow it into a profitable empire.
Check out: How to create a WordPress blog in 15 minutes.
Do you’ve passion for teaching?
If yes, then it is one of the profitable small business ideas you can pursue. But you’ll have to let go of your traditional way of thinking.
Traditionally, you can rent a small office space, equip it with the necessary teaching materials, promote your service to the age group you want to teach and start teaching them.
The problem with this way of thinking is that your income will be limited to the number of students you can teach and also limited to your geographical location.
This way, your teaching business can be profitable but you won’t time freedom.
You need to think digitally. You can open a Udemy account, create your course then promote it and you’ll have students from virtually any location in the world.
You’ll have the time freedom you crave, own a very profitable business and you can think of growing it by creating more course.
6. Consulting Service
Businesses need consulting services such as copywriting, marketing, SEO, Facebook ads creation and even social media influencers.
If you can provide such services than you can build a highly profitable business.
All you’ve to do is contact those businesses that need your service and pitch them.
You must be careful as business owners only want qualified individuals and you might need to provide your first service for free just to get that first client and build your portfolio.
Consulting is one of the small business ideas in Nigeria that will yield a high margin profit with little effort. What businesses are paying for is your time and knowledge.
7. Rental Service
Another profitable small business idea is a rental service. Renta service depends on your local communities and the quality of goods they want.
Once you figure out what kind of quality people are willing to pay for in your community, you can rent a shop, buy those goods and materials and rent them out.
You must be careful and put necessary measures in place to ensure people return what they borrow and pay for any default.
8. Car Wash
You need very little money to start a car wash venture. Literally, you need a space for cars to park, water and soap to get the job done.
You can also invest in car wash machine to make your small business more attractive to customers and you can employ other people as you become profitable.
9. Laundry Service
Another small business ideas in Nigeria that need very little cash to get started is laundry. All you need is a washing machine, soap and water to get started.
You don’t even need to rent a shop. Just promote your service to your local community, get your cash and deliver their clean clothes to them.
10. Fashion Designer
To start a fashion design business, there are two methods you can take and of course one will take more time than the other.
First, you can acquire the necessary skills needed then you rent a shop, equip the shop with a machine and other necessary materials and start promoting your service.
Second, you can skip the skill acquisition process, rent a shop, employ fashion designers, equip the shop and start promoting your service.
Your venture will be more lucrative if you can design fashion trends for both genders.
11. Sales of Phone and its accessories
Selling phones is one of the high-margin small business ideas in Nigeria. You can also add phone accessories to your arsenal to boost your profit margin.
Compare to others, you might need more cash to acquire the phones and accessories from manufacturers and start selling. The good news is that people buy phones or accessories every day.
Almost everyone is concern about their fitness and with various chronic diseases news in Nigeria, people want to stay fit and healthy.
You can set up a gym centre, create a digital presence for yourself and have that high-profit margin small business.
The concern here is that it does cost a lot to equip an average gym centre but you can definitely seek funds from friends and family to get started.
Cosmetics is one of the most popular small business ideas in Nigeria. Ladies especially fall in love with their looks and you can take advantage of this by starting your cosmetics business.
You can either start your own cosmetics line or sell popular companies cosmetics.
The choice is yours but you’ll need to research before getting started.
14. Website Design
You can start your own website design company if you have the necessary skill to build and maintain a website.
Also, you can learn web development if you don’t have the skill but want to get started. Due to other companies out there, it might be difficult to get your first client.
To jump ahead of the struggling curve, you need to ask your friends and family and see which of them need a website, then offer to design it for free (given that they pay for the domain name and hosting).
You can also offer your first client (if you don’t have a friend or family that need a website) to design it for free.
Once you’ve your first client, you can build on that and start making a name for yourself in the industry.
15. Driving for Uber
I honestly don’t consider driving for Uber or its competition as one of the small business ideas in Nigeria.
I’m only adding it to this list as it can help you fund your business idea if you can drive.
You might have zero Naira in your account with virtually no one to help you, as a Uber drive, you can fund your own business.
16. Small Chops
Small chops is another lucrative small business ideas you should consider. Nigerians are now demanding light foods and the need for entertainment.
If you’ve the skill required then you can get started.
Dropshipping might seem strange to a lot of Nigerians but it is one of the high margin small business ideas in Nigeria you can venture into.
To get started, you need to partner with product creator or seller, then you set up your own e-commerce store, promote it and when you make a sale, your partner will deliver the product while you keep your own share.
You don’t need to take care of the inventory, the delivery or any hassle that comes with buy and selling of a product.
Check this article out: How to start a dropshipping business in Nigeria
Parents still need to go to work and make a living after giving birth. Most companies don’t allow parents to bring their kids to work as it might disrupt daily activities.
That’s exactly where you come in. You can start a daycare business and cater for the kids of such parents that fall into the category mention above.
Starting a small business is not a easy task and every step of the journey brings it own challenges. But when you look at the big picture and end goal, you’ll see that it all worth it.
So let me know in the comment section, which of these small business ideas in Nigeria caught your eyes?