The best business ideas in Nigeria for 2021 are not out in the distance. They are closer than you think. In fact, chances are that if you’ve been thinking of starting a business this year, then you might have considered at least one of them.
That’s why we compiled this list of 40 business ideas so that you can go from thinking of a business idea to taking the right action in getting started.
After all, it’s half-way into 2021 already – the year you promised yourself you will start your business, right?
So, whether you’re looking to start a part-time side hustle or full-time business, this guide is for you.
With that said, let’s get started.
- 1. Starting a Gym/Fitness Center
- 2. Start an Online Blog
- 3. Start your cosmetic brand
- 4. Start a mini importation business
- 5. Start a food business
- 6. Create a digital product
- 7. Start your cake brand
- 8. Sell mobile phone accessories
- 9. Sell second-hand clothing (“Okrika” bale) Business
- 10. Start a consulting agency
- 11. Resell used clothing online
- 12. Become an online tutor
- 13. Offer online bookkeeping services
- 14. Become a make-up artist
- 15. Website Design and Maintenance
- 16. Mobile App developer
- 17. Car Wash
- 18. Equipment Rental Services
1. Starting a Gym/Fitness Center
People are always concerned with how they look, their body size, and fitness in general. People pay to get themselves in the best shape that they want and to stay fit.
The Nigerian fitness industry is one that hold great promises, especially in many middle class and upper middle class communities due to lifestyle trends and health issues.
That is why you should consider a gym business. If you are passionate about people’s health and their fitness, then a gym-related business is good for you.
2. Start an Online Blog
Blogging is one of the ways whereby you can earn online. You can start blogging if you have the ability to write or willing to acquire the skill of writing.
You don’t need to have much money to be a blogger. The necessary things needed are a good internet connection, a laptop, research skills.
Time is also an important factor when considering blogging. In fact, time is perhaps the greatest investment when you become a blogger.
One thing you should also learn if you want to be a blogger is search engine optimization (SEO). This is to help people find your blog when they search on search engines like Goggle.
SEO is important for a blogger because you will not always want to promote your blog manually. You can also decide to hire an SEO expert to help you out.
You can start your blog for free on WordPress or Wix. You can also have your blog hosted on a personal server if you have money. You have to post good content on your blog, drive traffic to your blog, monetize your blog.
You can monetize your blog by displaying advert, Google Adsense, affiliate marketing, you can even sell e-products like e-books, etc.
3. Start your cosmetic brand
The cosmetics business is one of the profitable businesses that you can venture into. You know why? People pay attention to their look.
People want to look good. If you are an enthusiast of beauty, then the cosmetics business is what you should consider.
If you want to be at the top in this business, you have to have good research skills. This is important because you cannot afford to be outdated.
You need to add to your knowledge about cosmetics so that you will be relevant In the business.
4. Start a mini importation business
A lot of things have changed since the inception of the internet. The way people trade and involve in commercial activities has taken a new look.
People now buy and sell by ordering things online through e-commerce websites like Alibaba, global sources, and so on. You can start with as low as a hundred thousand Naira if not even less.
All you need to do is to know what people need, search for these products on various e-commerce websites, ask a procurement agent to help you buy the products. The procurement agent will get the product across to you which you will sell and make your cool cash.
You can import various products which include perfume, clothes, kitchen utensils and lots more. People who are into this mini Importation still make profits even when the value of Naira falls.
5. Start a food business
The basic needs of man are food, clothing, and shelter. That is why you should consider a food business.
Every man eats, no matter what condition they are and that is why the food business is profitable in Nigeria. In fact, food is one of the fast-selling products in Nigeria.
You can only be successful in the food business when you differentiate yourself from others. This can be done when you choose special types of food, a niche, and a targeted market. Note that everyone cannot be your customer, so know your people.
Look into strategic places that you will get a higher profit. For instance, you can sell food to people working in big companies and organisations like banks, breweries, oil and gas companies, and many more.
You can even build a relationship with the management of the companies and seek their permission to bring food into the organizations at a specific time. You can also ask people to order some special food which will be delivered to their doorsteps.
6. Create a digital product
Digital products have helped many create business empires. This is an internet-based business that you can do if you have knowledge of what others don’t.
You can make cool cash and even build a thriving brand by packaging what you know and selling it online. This information may be packaged in form of audio, video, e-book, or a course.
You don’t necessarily have to create the digital product by yourself. For example, if you want to write and sell an e-book, you may hire a creative writer who will creatively help you turn your knowledge into money.
7. Start your cake brand
Cake as we all know is used to spice up events ranging from birthdays to weddings to anniversaries to graduation and other exciting events.
That is what makes the baking of cake a profitable one. Cake varies in sizes and types and fits for a wide range of occasions as mentioned earlier. You can start your cak8. e business on a low budget.
In fact, you can start it in your kitchen. With the right marketing skill in place, you get customers who are interested in cakes, get them to send you a sample of what they want, and get it done for them.
Make sure that your cakes are yummy and tantalizing as this will help you retain old customers and even earn you referrals. Ensure that you post every of your work on various social media platforms to attract new customers.
Don’t just bake those cakes for fun or lunch on a Saturday afternoon, make money from it.
8. Sell mobile phone accessories
Mobile phone is one of the most bought products in Nigeria. This is why the sake of mobile phone accessories is another way to earn. You can decide to rent a shop for your business if the money is available.
You can also make it a mobile business by carrying your goods to specific places that you think they are needed or where they are demanded.
You can start the selling of batteries, earpieces, memory cards, screen guards, and other mobile phone accessories with as low as 50,000 naira.
A partnership with companies like Samsung online store will be helpful for you to get your products easily. You can as well decide to import these mobile phone accessories.
9. Sell second-hand clothing (“Okrika” bale) Business
You will hardly see an average Nigerian in a boutique to buy clothing.
You know why?
They believe that these clothes are expensive so they go for an alternative which is Okrika. Okrika business is profitable and sells fast in Nigeria because of the poor economic situation.
You can actually start your Okrika business anywhere in Nigeria. However, a sub-urban region and a rural area is a good location for the Okrika business.
You can buy bales of Okrika at places like Aba, Onitsha, Lagos, Kano. The capital for Okrika varies depending on the individual but you can start with as low as 100,000 naira.
10. Start a consulting agency
Knowledge, they say is power. Being knowledgeable and passionate about specific aspects of life can fetch you more money than you can ever imagine. You can start your consulting business, grow the business and employ other consultants over time
11. Resell used clothing online
Selling online is another lucrative business you can venture into especially if you are passionate about clothing and other fashion items.
It takes a lot of time and dedication. However, it is a good idea you can start as a side hustle and later turn it into a full-time business.
Online clothing store websites are of great advantages of selling your unwanted clothing.
12. Become an online tutor
Due to the pandemic, students have been on lockdown. Online teaching has been a lucrative business as students now learn from home and this is a great opportunity for anyone knowledgeable about a particular subject. You can teach the course regardless of your location.
13. Offer online bookkeeping services
Book-keeping business is another lucrative business you can start with little or no money. Research shows that the accounting, tax preparation, bookkeeping, and payroll services industry is one of the top 15 most profitable small business industries. The bookkeeping business also has a greater benefit because of its high margin of profitability.
14. Become a make-up artist
Make-up service is another lucrative business. You can start by working on yourself, then to close friends, then to clients who will pay you for your service. You can also take advantage of online platforms like YouTube and make numerous people know about you and what you do.
Overall, the amount of profit you can make depends on the total number of customers you have and the exact services they request.
15. Website Design and Maintenance
Having an online presence for one’s business is now the new normal since the COVID-19 outbreak.
Virtually all thriving businesses and organizations now have an online presence for their business. This has helped them to remain on their feet during the lockdown and afterward.
This is why website design is a new way to generate money. Business owners and organizations don’t want to be left behind from the goodies that are in having an online presence, that is why the demand for a website designer is one the high.
Once you have learnt basic design tools and can build an attractive and functional website, then be ready to smile to your bank.
16. Mobile App developer
Technology is evolving and if you are an expert in technology, you can start a business in app development.
Many people prefer to use mobile applications than using the website via chrome or other browsers because the mobile app is said to be more User-friendly.
If you are techy, this might be for you. With your smartphones and computers, you can access the business.
17. Car Wash
The car wash business is profitable as there will always be an increase in the demand for a car wash.
The reverse can only be the case if people stop using vehicles and that is why you should look into a car wash business. Anyone can do this business regardless of age.
You might need a little more capital to start up your business as you will need a space, a stable source of water supply, and a washing machine.
You can make your business more attractive and customer-friendly by providing a sitting space with a television set where your customers can relax while you wash their cars.
You can also make additional money if you include the sale of things like drinks, snacks, etc. in the relaxation area.
18. Equipment Rental Services
There are a lot of things that people need that they don’t have. This may be because of the amount to purchase it or they won’t need it every time. That is why you should consider a rental service.
People rent a range of things which includes chairs, canopies, kitchen utensils, a ladder, and so on. Decide which of the item you want to rent out and kick start your business.
Once you have been known for renting out these items in your environment, the demand may later be too much for you to meet. Therefore, as the business keeps thriving, make sure you buy more of these items and other items that people will like to rent.
This business requires more capital to start. If you have money and you don’t know which business to venture into, then this might be for you.
19. Ice Block production
Ice block production is a small yet profitable business in Nigeria. Nigeria is a country that has intense sunlight and heat hence, the need for cold drinks is on the rise.
Unfortunately, Nigeria is having a poor power supply which makes it difficult for people to get access to cold water and drinks in their homes. That is why the Ice block business is lucrative in Nigeria. Your targeted market are homes, shops, and bars that are in need of cold drinks.
Fortunately, you don’t need a huge amount of money to start your ice block business. You can start with a little amount of money. The major things you need are a deep freezer and a generator that can power it. You can purchase an ice block-making machine when the business starts to boom.
20. Affiliate Marketing
Affiliate marketing is another profitable business in Nigeria. You can start with little or no capital. All you have to do is to connect a buyer to the seller or help someone to sell something then you are paid a commission for every product you sell or was sold through you.
Affiliate marketing can be done either offline or online. You don’t have to take any risk as the risk will be taken by the seller. All you do is link up or sell products and then get your money. We have various affiliate marketing websites and programs that have helped many to become a millionaire. You can also sell physical products or digital products as an affiliate marketer.
You can register to any affiliate program online and use your affiliate link to advertise and then drive sales to the company.
21. Content Development / Ghost Writing
Looking for a business you can start with little or no capital? Then you should consider content development or ghostwrite. If you can creatively compellingly use words, then you can start making money from writing as a freelancer. You can do this on a full-time or as a side hustle. This is a good way for students to earn also.
Organizations and companies pay a huge amount to anyone who can help develop good content either for advertisements, blogs, or websites. Some organizations will even add to your pay if you help them edit as well.
There are various platforms online like Fiverr that you can register as a freelance writer and you start to earn big.
22. Driving for Uber
A lot of people have as much as 2 million naira and they don’t know what to do with it. If you are in that category, then consider Uber. People drive with Uber for various reasons. Some want their freedom, they can drive to wherever they like and whenever it pleases them, they determine the number of hours they spend at work. Averagely, Uber driver earns up to 120,000 naira per week. Presently, driving an Uber is one of the profitable businesses in Lagos and some other parts of Nigeria. You may choose to make it a full-time job or a part-time job; either during my weekends or after closing the day’s job.
23. Creche Business
Mothers have to continue to earn a living after childbirth. That is one good reason why having a creche is a way to make money. The creche has always been a live saver for mothers as it helps them go on with their normal daily activities seamlessly. If you love being around children, this is a business you should consider.
It is important to register your creche with appropriate authorities to avoid getting into trouble.
24. Laundry Business
This is another profitable business you can do in Nigeria. Many people have made their money and a lot are still making their money in this business. You can also join the league of people that have made lots of money in the dry cleaning business. A lot of people get busy with their work and they seldomly have time to do home chores like washing clothes and others. Some may even wash and find it stressful to iron. Some people want a professional touch on their clothes and they know that only a dry cleaner can do that.
The major things you need are a washing machine (you can even wash manually as a starter), pressing iron, ironing table, and detergent.
25. Social Media Marketing
This is another selling skill in Nigeria. Many organizations and businesses know that they have to market their businesses online but they don’t know how to go about it. They know that social media will increase their reach to their audience and also help them to generate more sales which will lead to profits.
Maximize this opportunity that social media has provided and learn how to use Facebook, LinkedIn, Twitter, Instagram, and other social media platforms to generate sales. Offer this skill as a digital marketing agency in nigeria to people either individually or corporately and start to make money for yourself.
26. Transcription service
This business is good for you if you can ear well and you can type fast. Transcription service permits you to work remotely and the schedule is flexible. You can choose to work full-time or part-time. You decide the number of jobs you want to accept based on your schedule.
The advantage of accepting few jobs makes transcription easy for you as a starter. The good thing is, it requires little capital. The major things you need are a computer, a good internet connection, and suitable software.
It is necessary to become a professional transcriptionist if you want an increase in business prospects and you want to charge more for the service you render.
27. Cleaning service
You can turn your ability or interest in cleaning into money. You can render cleaning service when you have few members of staff, cleaning items, and transportation. You can render service to household, commercial properties, or apartment complexes. You don’t require much skill before you can venture into a cleaning service. The major skills you need are planning, commitment to work, and proper marketing that will attract the right customers. You can distinguish your cleaning service from others by adding other options like floor waxing or fumigation at an extra charge.
28. Real estate agent
Not many people find it easy to get an apartment and other landed properties, and that is why a real estate agent is needed. Your job as a real estate agent is to help people find their desired house at a price they have budgeted for. You might need to get a certificate to be a professional real estate agent. Aside, the certificate, there are skills you should not lack which include negotiating, closing a deal, etc. You must also know how to relate well with people if you want to consider this a profitable business.
29. Graphic Design
Companies, organizations, and business owners need to promote their business using attractive material that speaks to the eyes of their prospects and customers. If you love art, designs, colors, then consider graphic design as a business. You must be able to arrange content/copy in a visually attractive format which can be used as posters, digital ads, flyers, and graphical materials. The major things you need are a laptop and a working space. The good thing about this is that you can work in the corner of your room.
30. T-shirt printing business
A T-shirt printing business is what you should consider if you have a good artistic sense or you appreciate and love good visuals on T-shirt. Most people prefer to wear a customized T-shirt with good graphics or quote on it. That is why T-shirt printing is profitable in Nigeria. Once you have a workspace and the important tools needed, you are good to start your business. You can start small and then buy sophisticated equipment as the business begins to thrive.
31. Delivery service
Looking for a profitable business with an easy start-up? Then you should consider the delivery business. All you need is a vehicle (or bike) and the ability to drive or ride. Don’t be discouraged by the big delivery companies, there are still rooms for starters.
It is important to have a good driving record which will make people trust you with their goods. You must also be able to deliver goods in good time and have great organizational skills to stand out in this business.
32. Event planning:
Event planning is a business you should look into if you are a very organized person and can meet deadlines. You have to be able to handle situations well, relate well with people, pay attention to details, and have great communication skills to be successful as an event planner.
Event planning is a profitable job that requires mainly your skill. You do not need start-up capital as such. Event planning is lucrative because of the wide range of customers that comes from it. Event planning is not limited to weddings, burials and naming ceremonies like most people have thought. Government organizations, hotels, corporations also need the services of an event planner to set things up for their conferences and even meetings.
Painting is another profitable business because many people don’t know how to paint and even if they do, many don’t have the time to paint. Painting business does not require more start-up capital. Also, painting is not a seasonal job, i.e, people paint at any period of the year. You can also employ painters when the demand for your service is getting high. Your physical ability, top-notch painting skill, and equipment like buckets, brushes, etc. are the basic things needed to kick start your painting business.
If you own a camera and can handle it well then photography is the business you should look into. The service of a photographer is needed at various occasions ranging from weddings, burials, naming ceremonies, and all that. People want to keep the memory of events and happenings, that is why photography will ever give you cool cash. Don’t be discouraged by the latest technology revolution of phone cameras and all that, a professional photographer will always be needed to get a professional result. Pictures are also taken at official events such as conferences, swearing-in, convocation and, so on.
You can start by snapping some people for free who will later be customers and may refer people to patronize you. The major things you need are the ability to take shots creatively, a good camera, and a few editing software.
Once you are known for taking good shots, the demand for your service will increase.
35. Freelance Proofreading and Editing
People will always need an editor as long as people keep writing. You have the opportunity to read about new things even as you make your money as an editor. Just like the other freelance jobs we have, you can determine when and how much work you do. You must have the ability to pay attention to details and meet up deadlines to thrive as a freelance proofreader and editor.
36. Start a YouTube Channel
YouTube is a great platform to earn in dollars. YouTube is a lucrative and legitimate business if you are intentional about it. You can earn a lot of money when you make educative, entertaining, or inspiring videos that keep people coming to your channel. You can join the millions of people who make money from all the ads that are displayed on their videos. Having good content, communication skills, relationship, audience, and timing will help you make your millions in a short while. Having a good camera and audio quality also have an effect on your views.
37. Cloth design and tailoring
Tailoring is very lucrative but first, you have to acquire the skill. Learn how to design and tailor both English and native wear. Once you are skillful, boom! You start counting your cool cash.
You can start this business with a small capital and then buy the sophisticated instruments as the business starts to boom.
38. Public Speaking
Inspiring people is a gift that can be converted to wealth. Public speaking is a lucrative business idea to pursue if you have the gift. A lot of politicians, writers, scientists, and other experts have used public speaking to earn extra money. They do this by delivering seminars, presentations, and speeches. Public speaking does not have to take away all your time. You can make it a side business that will earn you money.
39. Career Coach
Many people want to become better in what they do and they need a coach. That is why you should consider being a coach if you are an expert in your career. You can make money by helping people to get to the top of their careers. You can also guild people in scaling through an interview, negotiating an increase in salary, and helping them succeed in the career they have chosen. You can start by sharing your ideas on blogs and platforms like Coach Me where we have a lot of people who are looking for help to boost their careers. Pay attention to making sure that people get results from the ideas or pieces of advice that you have shared and in no time you charge people for the results that your clients are getting.
40. Car rental business
Cars to some people are luxury but to most people, it is a necessity. Some people at some point will need a car they could hire You can rent your car as a source of income. Instead of your car sitting in your garage almost all the time, why not rent it out? You may charge per hour or per day depending on what you choose. Be sure you learn from an expert who will put you through the business.