Nigeria’s Top 10 Profitable Business Ideas to Launch with 100,000 Naira by 2023

Nigeria's Top 10 Profitable Business Ideas to Launch with 100,000 Naira by 2023

  • POS/E-Payment Business: A profitable business in Nigeria that involves providing e-payment services to customers who want to conduct financial transactions like withdrawals, transfers, and bill payments.The POS (point of sales) business is a highly sought-after and lucrative venture in Nigeria. Starting with as little as 100,000 naira, you can establish a profitable POS business that yields a 100% return on investment within 30 days or less. The essence of this business is to offer e-payment services, which enable clients to conduct various financial transactions such as withdrawals, transfers, and bill payments.

    The POS business idea in Nigeria has many advantages, such as providing an alternative to long bank queues, offering financial freedom, and helping to reduce unemployment. Many successful entrepreneurs, like Mr. Tayo Adewale, have built a stable income from starting a POS business…… Continue Reading

    When starting a POS business, the location is critical. Choosing an area with a good GSM network and proximity to customers is essential for success. Security is also a priority to avoid criminal activity due to the cash transactions involved.

    In addition to providing e-payment services, a POS business can also offer other services, such as selling airtime, data bundles, and conducting BVN registration. Diversifying services can attract more customers and increase profits.

    To start a POS business in Nigeria, you must meet specific requirements, such as registering with CAC, obtaining a TIN, and opening a bank account. You also need to apply to a payment solution provider to obtain a POS terminal.

    Although a POS business can be lucrative, there are also challenges associated with it, such as high competition, network failure, and power outage. However, having contingency plans can help overcome these challenges.

    Marketing your POS business is crucial to success. You can promote your business through social media platforms, word-of-mouth referrals, offering discounts, and partnering with local businesses to expand your customer base.

    Starting a POS business in Nigeria is an excellent business idea that requires minimal capital investment. With a good location and reliable payment solution provider, you can achieve financial freedom and provide an essential service to your community.

  • Copywriting: A profitable online business that involves writing content to persuade or promote a product, service, or cause.Copywriting refers to the practice of writing various types of content, such as advert copies, blog posts, video scripts, presentations, direct mails, jingles, and creative content. It can be pursued as a full-time profession or a side hustle that guarantees a decent return on investment.

    Earning Potential

    Copywriting has great earning potential, with salaries ranging from 100,000 to 300,000 naira. Freelance copywriters charge clients based on the number of words, with an average rate of 11-20,000 per 1,000 words.

    Getting Clients

    For beginners, various methods can be utilized to get clients, such as applying for freelance job boards, cold pitching, speaking at conferences/workshops, and promoting your business on professional platforms like LinkedIn.

    What You Need to Start

    To start copywriting, you must possess writing skills, which can be improved by reading books, watching videos, following blogs, taking courses, and getting a mentor. All you need to start is a laptop, a good internet connection, and a reliable power supply.

    1. Introduction to Graphic Design

    Graphic design is the art of visually communicating a message by combining various elements. In today’s digital age, it is a valuable skill with many industries requiring graphic design services. It is essential to understand the basics of graphic design, such as color, typography, lines, shapes, balance, texture, alignment, proximity, contrast, and hierarchy.

    Starting a Graphic Design Business

    Starting a graphic design business requires learning the skill and having a laptop and software like Corel draw, Adobe Photoshop, Adobe Illustrator, Canva, Pixellab, Logo maker, and other similar software. A physical shop is not necessary. You can learn from professionals by paying for master classes or watching graphic design videos on YouTube.

    1. Selling Clothes in Nigeria

    Clothes are essential, and selling them in Nigeria is a profitable business that can be started with 100,000 naira or less. To succeed in selling clothes, it is crucial to build a good relationship with your customers, advertise on social media, and engage in one-on-one interactions. The types of clothes to sell are children’s wear, native wear, English wear, jeans, underwear, and more.

    Starting a Clothes Business

    You don’t necessarily need a shop to start selling clothes. You can deliver clothes to your customers’ doorsteps. To succeed, you must convince your customers to buy your products. Good networking skills and maintaining a good rapport with your customers can help refer you to other potential customers.

    1. Laundry Business in Nigeria

    Laundry is a profitable business in Nigeria due to people’s busy schedules that make it challenging to find time for washing clothes. To succeed in the laundry business, honesty is essential to gain your customers’ trust, ensuring their clothes’ readiness as promised, and establish good connections for referrals.

    Starting a Laundry Business

    You can work from home without owning a personal shop or space. Basic tools like a washing machine, iron, and generator in case of power failure are needed. Richard Ojigbede, a student of Ambrose Alli University, started with washing clothes with bare hands but now owns two washing machines and a generator, making nothing less than 10,000 naira daily.

    1. Shawarma Selling

    Shawarma is a popular snack made of beef or chicken filling loved by many, especially the younger generation. With as little as 100,000 naira, you can start a shawarma selling business in Nigeria. Before starting, it is crucial to get proper training on shawarma making to ensure high-quality products.

    Starting a Shawarma Business

    You need to find a strategic location, preferably in an urban area near a students’ area, supermarket surroundings, or a T-junction, to attract your target audience. Equipment required for the business includes a shawarma toaster, show glass, pot/utensils, spron, and insect killer for flies.

    1. Data Reselling Business

    In today’s digital world, staying connected is a necessity, leading to high data consumption in Nigeria, with over 80,000 terabytes used monthly.

    How Data Reselling Business Works

    Data resellers buy data in bulk from telecom companies at a lower cost and resell to customers at their preferred rate.

    Starting a Data Reselling Business

    To start a data reselling business, you need a laptop or smartphone, capital for the initial purchase, a good internet connection…… Read More

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OPay Appreciates & Values All Its Clients and Customers Across globe

OPay Appreciates & Values All Its Clients and Customers Across globe