In this post, we outline the best small scale business ideas in Nigeria. Some of them can be started with very little capital. It covers ideas that can help you make money online and offline.
The best part? You can run some of these business ideas from the comfort of your home!
1. Cosmetics Production Business
If you love beauty, then going into the cosmetics business will be your best bet. For you to do well in this business in Nigeria, you will need to engage in some deep research.
Why is this important? This is because you will need to learn new things about the cosmetics industry that will keep you up to date, creative and innovative in business.
2. Gym Business
Fitness has always been a source of concern, and Nigerians have also caught the bug. This is because of the high rate of cancer that continues to ravage people.
If you are a fitness and health enthusiast, then you can look towards starting a gym-related business in Nigeria. You will need to have enough finance to equip your gym centre.
3. Sale of Mobile Phone Accessories
This is a very lucrative business in Nigeria today. With as little as N50,000 saved using a platform like PiggyVest, you are good to go. While you will do well by renting space if you have the money, this business can also be done in mobile fashion i.e. by carrying your products to places they are needed.
In this case, you have to first identify your market and feed them with their needs. You can even partner with companies like this Samsung online store in Nigeria for easy market penetration.
What drives this business is the rapid growth in the use of mobile phones in Nigeria. Nigeria has an estimated population of 180 million people. There are more than 160 million connected through their mobile phone line.
Accessories that are common in demand include batteries, memory cards, battery chargers, earpieces, screen guards, pouches, etc. You can get supplies from Computer Village (Lagos) or online stores. Phone Accessories business is one sure way of getting into online importation.
Also, you could make your business stand out by venturing into mobile phone insurance. This has proven to improve the confidence of customers in your products.
You can obtain a comprehensive loan,tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.
4. Mobile Phone Repairs
This is a business idea that will fetch you good money if you are patient to learn how to repair and maintain mobile phones. With less than N50,000 you can start a phone repair and maintenance business in Nigeria.
All you need to start is a little training, a laptop, software tools, some regular home tools (screwdriver, soldering iron, brush, battery tester, etc.) and some marketing to let people know what you do. You will also need to develop good relationships with dealers of quality accessories. With as low as N5,000, you can purchase a repair kit from any eCommerce stores. Just make payment with your debit cards, and you’re ready for business.
5. Ice block Production and Sale
When you talk about small business ideas in Nigeria, ice block production comes to mind. Nigeria is located within the tropical climate region with an abundance of sunlight and heat.
Unfortunately, the electricity supply is very poor, making it difficult for homes to maintain adequate stock of cold water in their refrigerators. This is what makes ice block production a money-spinning business in Nigeria.
People require ice blocks to keep their water and drink cold. Your market includes households around your neighbourhood, retail shops, restaurants and bars that need to keep their drinks ice-cold at all times.
The good thing about this business is that you can kick off with the little you have. You need a deep freezer as well as a medium-sized generator and you’re all set. As you make money, you can scale up by acquiring an ice block making machine. So, looking for a small business to do? It could be this.
6. Car Wash
The need for car wash will always be on the rise and anybody can do this business irrespective of age.
With a little more capital, you can start a car wash that appeals to upwardly mobile individuals by setting up a sitting area decorated with a TV set where your customers will sit while their cars are being washed.
You can make it a multiple income stream business if you have space by adding the sale of drinks, shawarma, etc at the sitting area.
The critical things needed for a car wash business is the space that can be rented, source of water and the washing machine.
7. Mini Importation
The internet has redefined trade and commerce. Many people have struck gold by importing items online through eCommerce sites like Alibaba, Aliexpress DHgate, global sources, etc. With about N100,000 or even less, you’re open for business.
Identify people’s demands. Search all the eCommerce websites, get a procurement agent to purchase these items. The agent will then send them to you to sell and make your cash.
Even with the falling value of the Naira, people who are engaged in this business still smile to the bank. Items you can import and many varied and may include: mobile phone accessories, cosmetics, fashion items, etc.
This post is a very helpful resource on all you need to know about mini importation