Are you interested in starting a profitable business here in Nigeria in 2020.
Like I always say, at the end of the day, being an entrepreneur is the way to go in Nigeria especially with the state of Nigeria economy
And this is whether or not one is gainfully employed. Truth is, in 2020, there is a handful of businesses to start with little capital that will give Dangote a good run for his money. Funny, but that’s the truth.
So most of the time, whether or not a startup will be successful often depends on an entrepreneur.
Once you have tested your products before launch and receive a pass mark, the rest of the journey depends on you basically.
For lack of persistence, determination and hard work, lots of potential multi-million dollar businesses close within the first three years.
For lack of persistence, determination and hard work, lots of potential multi-million dollar businesses close within the first three years.
That is why no matter how fantastic this list is if you are going into a business in 2020 with low capital, you have to top up your capital with your attitude towards work.
Here we go.
31 Businesses to start in Nigeria in 2020 with little capital
- Skin care business
Am I the only one who has noticed the sudden interest in organic skincare these days?
Nigerians seem never to have been so concerned about their skin and anything organic; organic hair, organic food, organic skin care and all. Nature should be dancing at us right now. Lol. 2020 will not record any decline in this craze.
There are so many local skin care brands in Nigeria. However, only a few have a large share of the millionaire dollar beauty market.
So basically, there are two sides to this business. Either you go into manufacturing the products or you do products marketing and sales.
Either way, there is cool money to be made in this business but you better don’t start a skin product business if you haven’t got great skin. O.K. now am just kidding.
- Delivery Company
With lots of companies and small businesses delivering their goods and services online, delivery business is a good business to start in Nigeria with little capital.
Most of the companies operating online need delivery companies to take care of deliveries which is a very important aspect of their business.
You need just one delivery machine to start with and the rest depends on how effective your marketing is.
You could even operate within a certain area if you feel you would not be able to serve a large territory.
- Foodstuff business
Food is the most important human need.
Food business has always been good business and it remains so.
With little capital, you could open a foodstuff shop and start a business that would become successful. Except people in your chosen area don’t feed. Lol.
- Online food vendor
With the current online trend, selling foodstuff online will not be a bad idea especially if you live in Lagos.
Palm oil, Ijebu garri, locust beans and so on are good products that there is a huge market for. Even sometimes, I find it difficult to go all the way to a market like Mile12 is in Lagos.
That will tell you that there are still segments of the food market that needs to be leveraged.
- Ankara business
It doesn’t look like Nigeria’s love for Ankara is dying soon, if you ask me.
Ankara material is getting all the attention now and in 2020, the love for Ankara will only wax stronger.
People use Ankara to sew anything now, from underwears to cooperate wears.
Even if you cannot have your own Ankara manufacturing company, you could join the long line of Ankara distributors and retailers in Nigeria.
You could also buy from Lagos Island Balogun market make your friends, family and colleagues your customer base.
You do not need to rub the bank to start this business. Some of my friends started this business with little amount of money last year and are now doing fine in their businesses.
If you love this line of business, why not start with that small capital.
- Shoe line
The year 2018 saw more Nigerians proudly embrace made in Nigeria footwears.
This trend will continue in 2020, so there is an amazing opportunity in this line of business. The annual shoe market is quite huge.
You surely need business knowledge and of course the skill to make shoes but you can always learn.
Already, some brands are flying high in the shoe business claiming a large chunk of the Nigerian shoe market. But there is always room for other disruptors in this sector. Female shoe lines seem not to be as saturated as men’s wear. I guess it’s more difficult to penetrate that market and even more challenging to make female shoes.
But for anyone willing to take the risks, why not?
- Mini importation
Last year, some of my friends started mini importation of some of the products that they make here in Nigeria. With the feedback am getting, it’s working well for them so far.
If you are into products with a market for it overseas, mini importation is the way to go in Nigeria in 2020.
If you are into products with a market for it overseas, mini importation is the way to go in Nigeria in 2020.
- Home tutor
If there is any subject, language or skill you know well enough to teach, it could be a great source of income for you.
I know a teacher who resigned from her work so she could have enough time for her three girls.
She was able to secure three home tutor jobs from an online platform to teach French.
She now earns twice what she used to earn as a full-time teacher. She works twice a week and earns more than her whole month salary before now.
That’s how sweet home tutoring can be of you are fortunate to get good deals from great platforms.
You might not be able to teach French but what about coding, cake making, digital marketing skills etc.
You could start offering your skills for some money.
- Phone Repair
The higher the technology of a mobile phone, the more the need for good engineers.
What makes this business good enough to be on this list is that most people cannot repair their phones by themselves. And phones will always go faulty.
So there you go. Phone repair is a good business anytime any day.
You should consider your business knowledge, professionalism, the best location and some other factors before venturing into this kind of business.
- Photography
There can never be enough photographers to serve a huge market in Nigeria.
E-commerce, online small businesses, blogs, fashion designers, boutiques and lots more other businesses cannot be run without photographers.
You could also sell your clean beautiful custom pictures on platforms such as alamy.com and others.
- Dry-cleaning
Dry cleaning service is definitely one of my favourite business ideas in Nigeria in 2020.
Laundry business sells in Nigeria because of two factors: 1.our vast population, 2. the fact that people are becoming increasingly busy these days.
To flourish in this business, however, you need very good packaging.
You also need to have basic marketing skills to get the words out there. Consistency and professionalism also matter.
I know many who have started laundry businesses and closed down.
At the end of the day, it boils down to their inconsistency and failure to deliver promises to their clients.
If you are about starting a profitable low capital business, laundry business is a good pick.
- Makeup Business
You think makeup business is over saturated, right?
Well, I can tell you for free that there is still a huge market for this business in Nigeria in 2020. The female folks are not taking their looks for granted any time soon. Everyone wants to look glam.
Chances are there are still opportunities for you in this business line.
Look around you and see if you could serve some segments that are either underserved or not well served. There could even be some sides to makeup business that you may want to provide solutions for.
For example, you may want to start your own eyelashes line.
You could even serve the makeup artists by importing yours and selling at subsided prices. What about dealing in the hygienic aspect of makeup.
It’s really up to you.
But make sure before you venture into any of these businesses, you have a huge market for your products or services enough to make it profitable.
- Graphic designs
How can we possibly put out this list without including graphics design?
Graphic artists are some of the most sought-after professionals I know right now.
Graphic artists are some of the most sought-after professionals I know right now.
With your basic CorelDraw knowledge, you could get little gigs here and there.
But to establish as a professional graphic designer, you may need to horn your skills.
Graphic artists get jobs from big brands and smaller businesses. These businesses need graphic artists’ branding services.
They design company cards, brand logos, etc.
You could have your own share of the cake in this graphic business you now?
- Fashion design
Many of you will definitely strike this one out.
Yes, the Nigerian fashion industry seems very saturated since many years ago. But there are still opportunities to be explored.
And I mean it.
The Nigerian fashion industry needs some major disruptions. Much of technology has not really been leveraged in this industry.
You could penetrate the fashion industry from this perspective. We now have Cars 45where you could sell your car within 45 hours.
What about creating a fashion design outfit where you could walk in and get your clothe sown and delivered within 24hours?
Think about it and make some research.
- Run a bar
This business is all about good location. Bar business sells in Nigeria any time any day.
Nigerians are said to be some of the happiest people on earth. You think it is *ordinary eye?* Nigerians can drink for the universe! Lol.
For real, Nigerians are very social. And what one thing you cannot take away from an average Nigerian’s social life is alcohol. Seriously.
But bar business that will be successful needs supervision.
From the staff to customers, almost everyone is on the lookout to dupe you.
So you’ve got to look for a way to outsmart them so you could smile home every 5am in the morning. lol
- Catering business
I love food and I am not even going to lie about it. But I love good food sha.
So if you cook really well, you are my friend already. Yea, right.
Now, time to get serious.
If you cook really well, what about you go into catering services business?
You may have to learn some more cuisines you know, so you can serve a larger market.
You could even cook and sell based on online orders alone. Or you could do events and special Nigerian *owanbe parties*.
Snacks i.e. small shops and smoothies may also go hand in hand with catering. Once it is food and you are very good at it, it is good business.
- Blogging
I am a blogger so what do you expect?
That said, niche blogging is the big deal in blogging. By niche blogging, I mean narrowing down your blog to a particular focus i.e. school admission and scholarship, kids fashion blog, work from home tips etc.
Some niches are saturated than others.
Gossip, entertainment and news blog requires more hard work than others.
With great content, a frequency of posts and great SEO expertise, your posts will start ranking without influencing it.
The more traffic you are able to drive to your blog, the better the chances of your success with it.
You can then apply for Google AdSense so you could begin earning from your blog.
Google has quite a lot of criteria and until you meet those criteria, Google may not approve your application.
So to make money from Google on your blog, you must strive to meet these requirements. It’s advisable you learn those requirements before starting a blog.
Other ways to make money blogging affiliate marketing, paid posts or product reviews, EBooks.
These resources below contain all you need to know to make a successful blogging career.
- Jewelry Business
Ladies love jewelries and can never have enough of it.
Why not capitalize on this and start your own jewelry line this year. For one thing, jewelries hardly expire.
Then you could easily market it. Carry some samples anywhere you go.
Once the opportunities present itself, begin to show the girls your stuff.
Social media marketing is also a very good marketing avenue for pieces of jewellery.
Take beautiful pictures of your pieces and post them beautifully on your Instagram page. Post them with beautiful captions and use correct tags.
Voila! Girls will begin to knock on the door of your DM.
- Gym Business
There is no contesting the fact that Nigerians are becoming increasingly aware of their lifestyle choices.
The need to exercise and be in good shape is being preached every these day.
So the gyms are registering more customers than ever before. What’s wrong in you getting your own cut of the cake?
I’ll advise anyone going into this business to find a trusted co-founder or partner so that the financial implication becomes bearable for you both.
Renting a place and getting the gym equipment is what you require capital for in gym business.
Once you got those sorted out, the rest is for you to start making some money doing what you love to do.
- Plumbing services
I encourage any young person who wants to learn a skill in 2019 to think about plumbing
Can you put a number to how many times you call upon your plumbers whenever your taps stop running or your kitchen pipe stops starts to block? And of course those are the minutest plumbing jobs; plumbing services are very wide.
The good thing about plumbing is that all you need to become a plumber is to immerse yourself in the practical skill. If you are very good and professional, you will have enough client base to live comfortably.
- E-Commerce
With the introduction of a platform like AWS (Amazon web services), it is less difficult and more cost effective for individuals to start their E-commerce companies.
Whether we like it or not, e-commerce is here to stay. As long as more people embrace technology and mobile phones in Nigeria, E-commerce companies will continue to emerge and grow.
Because some pioneer brands are already leading in the E-commerce market, it may be difficult to penetrate the general E-commerce market but you can always choose a niche.
- Web Developer
If this list is written in 5 years’ time, I can assure you that web developer will be included.
Those who learnt to code some ten years back are the smartest! They were futuristic in their vision and are now reaping the fruitage thereof.
And the harvest is still huge but the workers are few. Why not join the workers so you could enjoy the blessing of the harvest.
- Codding Tutor
If you can code well enough to teach coding, why not look for tutoring opportunities online. There are quite a lot of such opportunities.
There are also a lot of young people looking to learn such skills.
- Affiliate marketing business
You can quickly realise your dream of making money online in 2020 with affiliate marketing.
Affiliate marketing is more like an online sales platform.
To participate in affiliate marketing, you must be a blogger or a digital marketing professional of some sort.
With affiliate marketing, you can either be an affiliate or a merchant.
A merchant is a person with the goods. An affiliate is the one who promotes a merchants products on his platform i.e. a blog.
When a purchase is made from an affiliate’s platform, he gets a commission.
The commission is based on a pre-agreed percentage between partners.
The merchants are also happy as he makes more sales through the affiliate.
If affiliate marketing sounds interesting to you, you should consider going into this business in 2020.
Affiliate is quite easy to join.
- Custom clothing
Custom clothing is a business that will thrive well in a student environment or any youth populated environment.
- Agriculture
Agric is really getting the Nigerian government’s attention these days. When is the right time to tap into the favourable government policies and programmes for farmers if not now?
- Social Media Marketing
- Poultry Farming
- Waste Management Business
- Confectionaries Business
I.e. Bread making, Cake business, Chin Chin and other snacks.
- Sales of Mobile phone Gadget
Now, the ball is in your court.
All the best in your new business. Cheers to great successes in 2020!
Comments
Post a Comment