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Best Business To Start In Lagos State

Discussion in 'Finance' started by Lisa, Jul 12, 2019.

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  1. Lisa

    Lisa Moderator Staff Member

    What are the best business to start in a city like Lagos? What are the of best business that will prove lucrative in Lagos. Please share your ideas in Details.
     
  2. Andrew

    Andrew Moderator Staff Member

    Lagos state is one of the best city to do business in Nigeria. All businesses grow lucrative in Lagos due to the population of the city.

    Even those selling water are making good sales in Lagos so the question is that what amount would want to use to start the business? What is your investment capital for this investment.

    Then only I can give my answer of businesses that will fit well for you in Lagos.
     
  3. Angela

    Angela Member

    Here are some ideas from smartsms website. Though I don't agree to some of their ideas you can pick the one that you know you are fit to handle very well.

    Gone are the days when people go about looking for the so-called ‘white collar’ jobs. The problem now is that even those jobs aren’t available anymore. The tough competitions for these jobs equally results in people who get them receiving less than that which their qualifications deserve.

    Just think about the constant ragging by bosses who are sometimes just over demanding. It’s time to look ahead and be your own boss. Here are about 50 small-scale businesses in Nigeria that are really profitable and interestingly, require very little capital to start.

    1. BEADS MAKING:

    This is just one of the numerous skills you can acquire with little or no difficulty. Many of us even have relatives and friends that already have the skill. The cost of making a bead necklace might go for as low as #200 and you can sell this for as much as #1000. That’s 80% revenue. Just think about it.

    2. SPORTS VIEWING CENTRE:

    The number of sports fans in Nigeria just keeps increasing by the day. You have a fallow piece of land in your area that is free for use? There are many youths passionate about sports in that area, and there is no sport viewing centre? That’s an opportunity. Take it. Believe me, the EPL season is at the corner, you don’t want to miss this.

    3. PETTY TRADING:

    Very likely there are many persons doing that around the place you stay. But competitions only arise when you are doing the same thing others are doing. Look around, is there something they are not selling or you think they sell but you can improve the packaging? Go for it. It might be provisions, clothes, electronics e.t.c.

    4. PHONE REPAIRS:

    This is a wonderful opportunity to delve into people’s ignorance. I once gave #250 to a phone repairer. And for what? Cleaning my phone panel with methylated spirit. The annoying thing is that I have cotton wool and spirit at home. I must tell you, there are many people like me in Nigeria who carries cell phones around and no little about it. Learn phone repairs and make a fortune.

    5. BARBING/HAIR SALOON:

    This is one more profitable small scale business. The beautiful thing about running a male or female saloon is that what you spend most times is just the skill. The starting capital to get the equipments is the basic cash you may need to spend, unless you want to service them of course, or need fuel for cases of power outage.

    6. FARMING:

    No. Don’t laugh. Many persons see farming as a local work. Well, they are just not seeing the bigger picture. There are various farming business you can delve into ranging from fish farming, poultry, cattle rearing, crop production e.t.c. These are massively rewarding. Just ask those who are in it.

    7. PHOTOGRAPHY:

    This is equally a skill you can learn and use it to get yourself paid well. All you need is a camera, sometimes a studio and the necessary skill, and you are good to go.



    8. GAME CENTRE:

    Do you have youths in your place hanging around most of the times and looking like they can do with a source of entertainment? You can open up a game centre and keep them occupied. You keep the community safe and your pocket safer.



    9. FOOD PRODUCTION:

    There are many foods, snacks, drinks e.t.c that are not really difficult to learn how to make and are in high demand by people around. Plantain chips, jams, fruit juices, ice cream, yoghurts e.t.c. You can even own a bakery.





    10. CATERING SERVICES:

    You are skilled in baking cakes, making chin-chin, other cookies and fries? Transform your skill into cash through catering services. You have a large prospective customers’ base.



    11. BLOGGING:

    Who can be a blogger? Anybody can. Provided you have a passion for something and you can translate it into writing. So are you a great storyteller? A comedian? A poet? Have an abiding interest in something nice? Can write about this? Try owning a blog. It’s cheap to set-up and easy to manage.

    12. TUTORING:

    This is another well paying job, either as part-time or full-time. If you are versed in a subject and have a passion for teaching, why not approach those you know needs the service. Many families are willing to spend what it takes for their children’s success.

    13. CONSULTANCY SERVICE:

    Each and every one of us has unique gifts and talents. You might be a good public speaker or a good motivator. Why not let people know about your passions and skills and you can get hired for seminars and workshops. Letting your head get you the cash.

    14. RENTAL SERVICES:

    You can rent out canopies, chairs, tables, garments e.t.c to people needing it. The good thing is that you just have to maintain them. They keep getting you the cash.

    15. CAR WASH:

    Water and soap and you are good to go. If possible you could even get the car washing machine and it makes it all the more easier. It’s also a very profitable adventure.

    16. LAUNDRY SERVICES:

    Another nice business idea. With the advent of technology you don’t even have to use your hands, a machine can do it for you in the twinkle of an eye and gets you cool cash.

    17. FASHION DESIGN:

    Acquire the skill, get a shop and a machine and you are good to go. Let’s say you can make the design for both sexes, that is a huge advantage.

    18. SALES OF PHONES AND ACCESSORIES:

    This is equally another small-scale business that is popular in Nigeria today and very profitable.

    19. COMPUTER REPAIRS:

    Same as phone repairs, this is also very rewarding. People have little idea about technical areas of computers and that is something you can exploit.

    20. CYBER CAFÉ:

    Forget the extensive coverage of internet and the fact that many persons can assess it on their phones; this business is still a very marketable one.

    21. BARS AND RESTAURANTS:

    Nigeria’s schedule is very demanding. People are always on the move. Fast food joints do wonders. Try it.

    22. PURE WATER BUSINESS:

    Arguably one of the most consumed commodity in Nigeria, if not the most consumed. You can also find your niche here.

    23. DAYCARE CENTRES:

    You have a great interest in babies? Everyone wants a daycare and will pay to ensure their kids are well taken care of. You might try this.

    24. ROAD SIDE VENDOR:

    Don’t be too quick to ignore this. What matters is the packaging you give it. Believe me there are many things you can do to stand out among the rest.

    25. TIE MAKING:

    This is also a skill you can learn and use to make money. It can be acquired in less than 3 weeks.

    26. PHOTOCOPY/COMPUTER CENTRE:

    This can be integrated with a cyber café or stand alone. All you need is to get the items needed once and for all and you are good to go.

    27. EVENT MANAGEMENT/DECORATION:

    You have a good taste for decorations and designs? And a good manager of events? You can equally make that a profession.

    28. ENTERTAINER:

    Now make sure you have the talent before going into this. You can be an artist, a comedian or even a DJ. If the talent is there, it’s very enjoyable, you just do what you love doing and still get paid for it. Nice.

    29. CLUTCH BAGS AND SHOE MAKING:

    Here also, all you need to do is learn the skill and you are good to go. If you are good at it you could make a lot of fortune from this. Why? Because you have lots of potential customers.

    30. EVERY OTHER THING THAT INTERESTS YOU:

    This is the base of it all and that’s why it is here at the base. Anything at all that interests you and is up there in your head is a perfect thing to use as a profession. Dreams are nice and become nicer when you make them realities.

    So, would you like a small-scale business that’s cheap to manage but very rewarding, you could make a pick from the list given above. You could even be in an employment and still use these as part-time income generating avenues.

    I will research and drop more details below.
     
  4. Angela

    Angela Member

    Here is another helpful ideas of business to start in Lagos.

    50 Best Small Scale Business ideas in Nigeria for 2019
    Raw Food Stuff Business
    This is one profitable business that can bring in good returns on investment in Nigeria. Nigerians are people who love to eat more homemade foods than the fast foods, unlike their foreign counterparts. Things like rice, beans, garri, amongst other things are what would be sold.

    Call Card Business
    This type of business is also known as the recharge card business. There is hardly any adult In Nigeria who doesn’t own a phone. This is one of the reasons why those in the recharge card business are doing so well. You too can join the train as you begin to tap into the market.

    Daycare Business
    There will always be the need to make a living even after giving birth. This is one of the reasons why day care centers make good money. The services they render is second to none and is indispensable. If you have a penchant for babies and kids, then you can consider starting a day care center.

    Dry Cleaning Business
    This is one of the fastest growing businesses in Nigeria. A lot of people have done really well in this business and still are doing well. There are a lot of people who are too overwhelmed by work that they may not have the time to wash their clothes. Therefore, you may want to look into starting a cry cleaning business.

    Restaurant Business
    In Nigeria, the restaurant business have always been on the rise. This means that it doesn’t go out of fashion. If you think that you are a great cook, you can start a restaurant business. You will be required to do a lot in the area of cooking very great meals.

    Car Rental Business
    Cars all over the world isn’t a luxury but a necessity. There are times however when some people may be in need of car services. This is where a car rental business comes to fore. Be sure you understudy an expert who can make you learn all the ropes within time.

    Bakery Business
    People all over the world love to eat baked things. Nigeria is one of them. Before you start out it is vital garner all the necessary information that you will need along the line. You will need to go to a school that offers baking services if need be. You will need other things too to get started.

    Hamper Business
    In Nigeria, there are seasons when the hamper trade is really an all-time high. If you know you have the knack for gifts, then you can look into starting a hamper business. You will need to decide if you want to deal in already assembled hampers, or if you want to be the one assembling it.

    Film Production Business
    Nollywood is one of the fastest growing film industries in the world. Every often block buster movies are being churned out and those who are the helms of affair when it comes to film production are doing all they can to see that great movies are produced. You too can join the bandwagon when you start a film production business. You do not need any qualification to join the train.

    Graphics Design Business
    If you are arts inclines and are looking for an arts related business to start, then you can look into the graphics design business. One of the good things about this business is that you can acquire the skills that is involved from the scratch and then expand on what you have learnt

    Phone Repair Business
    There is hardly any adult who doesn’t have a phone in Nigeria. This only goes to show that the phone business and other businesses surrounding it is really a worthwhile one. You can garner the phone repair skills so that you can delve into the huge market that is in existence.

    Gym Business
    Fitness has always been a source of concern to Americans, 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. You will need to have enough finance to equip your gym center.

    Wine Bar Business
    From clubs, to restaurants and even in homes, wine is usually consumed. If you know that you are a wine connoisseur, or are in love with wine, then you can look into starting a wine bar business? You have to make sure that the location you choose for this business is a good and promising one.

    Internet Radio Business
    If you are interested in going into the internet radio business, then you should be conversant with the fact that it is a different kettle of fish from the traditional radio business – especially as the source for your internet radio business is a computer. Before starting this business, you should know what topics you would need to discuss to appeal to your target market, and what kinds of business you would be concentrating on.

    Transport Business
    The population in Nigeria is huge and a lot of people are looking for a good living. People move from one spot to another to make ends meet. You can be the problem solver by starting a transport business. Before you start, you will need to determine if you want an interstate service or an intra-state shuttle.

    Jewelry Line Business
    Sourcing for materials to use for your jewelry line business will mean you looking for reliable suppliers and getting your materials in bulk so as to cut down on overhead cost, and make your jewelry affordable. You would also need to create an inventory system for your materials so that you could be alerted when they run low.

    Mobile car wash Business
    Mobile auto car wash eliminates the need for a physical business location, therefore limiting start-up costs considerably. Start a mobile car detailing business with inexpensive supplies and tools and grow as needs arise. As a mobile detailer, you will perform jobs in customer parking lots, driveways and garages, giving you the advantage of visibility for marketing purposes. The downside includes not being able to work outdoors in inclement weather and the limitations of having to travel with all necessary tools and supplies, including large quantities of water.

    Party Rental Business
    A party rental business is indeed a good way to make extra money and in the long run can turn into a lucrative, full-time business. People love to have party in Nigeria, and there are times when some party rentals might not give one what they want. You can bridge the gap by starting a party rental business.

    Pizza Delivery business
    Starting a pizza delivery business is a profitable business venture, and can yield a high profit margin for any entrepreneur who is serious about the business. With pizza, you get to be creative as well as learn how to cook. You would also need to be as creative as your mind can possibly conceive; pizzas come with different options such as chicken pizzas, Hawaiian pizzas, Italian sausage pizzas, barbecue pizzas, as well as other traditional cheese, and hamburger pizzas.

    Nursing Home Business
    Home nursing businesses are a growing field with increasing demand driven by an aging population. Today’s health care offers more forms of surgeries, interventions, and elective procedures–often leaving patients needing temporary home nursing care.

    In addition, members of the elderly population who don’t want to leave their homes for an assisted living facility or nursing home often elect ongoing home nursing care. For an entrepreneur looking to get into the home nursing market, establishing the business is usually more challenging than finding a customer base.

    Poultry farm Business
    Starting a poultry farm might appear easy but starting it as a business too is something entirely different. This means that you are not only just a chicken farmer but an entrepreneur as well. Starting this business you would need to define your target market. And the part of the chicken industry you intend to go into. The chicken industry has two main parts; Layers, where the chickens bred also lay or produce eggs, or Broilers, where chicken are bred mainly for meat.

    Cosmetics Business
    If you love beauty, then going into the cosmetics business is one of your bet. For you to do really well in this business, you will need to engage in some deep research. Why is this important? This is important because you will need to learn new things about the cosmetics industry that will help your business.

    Microfinance Business
    If you have the capital or are sure to get well-meaning partners to float your microfinance business, then you can look at starting a microfinance business. You have to have a good business plan to do this. A business plan will help you know what and what to do per time.

    Tailoring Business
    The art of tailoring have been in existence from time immemorial. This means that it didn’t just start recently. If you have an eye for fashion, then you can begin to work on delving into the tailoring industry. One of the good things about this trade is the fact that you will beautify people for a fee.

    Insurance Agency Business-: The idea of creating a niche to grow your book of business for insurance agents is certainly not a new idea. However, It is often heard from insurance agents wanting to find their niche market, but unsure of where to start.
    Tomato Farming Business
    Starting a tomato farming business is a rewarding business that is not too expensive to start up. However, before you start your tomatoes business, find out what kind of tomatoes people usually want. This information can be gotten from those who supply seeds, as they will be able to tell you what is popular and what isn’t. Also, they will let you know the varieties that sell well; however, you will also need to ensure that the seeds you finally pick will grow well in your climate.

    Wood working Business
    Starting a woodworking business is a great way to turn a hobby you enjoy into a money-making venture. Wood items are popular and make great decorations and gifts. But starting a woodworking business involves more than creating wooden objects. It requires research and planning particularly in marketing and business management.

    Agricultural Business
    If you think that the idea of starting a commercial farming business goes down well with you, then you can start an agric related business. One of the things that you should have at the back of your mind when you want to start this business is the fact that you have to first of all come up with the crops that move pretty well in the market.

    Fish farming Business
    Delving into the fish farming business means that you must have knowledge about the business. Why is this important you just might ask? This is especially important because you do not want to come across as a dullard who is in business. You can start out by carrying out a thorough research on the internet.

    Organic farming Business
    A lot of people because of health reason are opting for only organic products. These products take time to mature unlike the hybrid counterpart. If you have a penchant for healthy living, you may then consider starting an organic farm business.

    Shipping Company
    The major factor that encourages to venture into this industry is its viability as a profitable venture. The lucrative nature of the industry is unparalleled and it’s indeed one of the few industries in the world which has the highest number of turnover in terms of profit and otherwise.

    Real estate Investment Business
    Real estate investment is a very attractive avenue for wealth building, as there are few other business opportunities where the potential for income is so high. However, it can be a very risky endeavor to step out on your own and jump into a volatile market. Navigating the financial and legal issues surrounding real estate investment can be an incredible hassle. Still, thousands of people are doing it every day and the smart ones are coming out on top.

    Electronics Repair Business
    To start an electric repair business is simple and you will need to learn all the ropes. An electric repair business has unlimited profit potential and a low start-up cost. This industry boasts of a lot of people who have done really well for themselves. In Nigeria, people have continued to require the services of an electrician.

    Courier Service Business
    There is a lot to be tapped from when you start a courier service business. What is more, there is a lot of profit in this business. If you think this is a type of business that you want to start, then you must first and foremost get all your facts together. After you have done that, then be sure to write a business plan to guide you as you start out

    Freelance Writing Business
    It’s very possible to become either a full-time freelance writer earning a living, or to be a part-time freelancer supplementing a regular paid income. Another role is to simply do it for fun or to build up a broader portfolio of skills. In this article, you’ll get the basics on what it takes to ease your way into freelance writing as a career or to be put properly, turn your writing hobby into a career that doesn’t affect your day job.

    Motherless Children’s Home Business
    Homeless kids will always seek for refuge in places where they are accepted. This is one of the reasons why you can start a motherless kid’s home. This of course will float as a nongovernmental organization, but in the process you will make your own profit and get a reward for reaching out to the needy people.

    Arts and Crafts Business
    If you have ever had a heart to heart business talk with a business expert, chances are that you may have been intimated on the point that being wealthy isn’t about working and earning wages at the end of the week or month. It is about having various streams of income. Being wealthy and successful is no child’s play at all. As a matter of fact being wealthy has a lot to do with how many businesses you have and how much profit you are able to rake in after a period.

    Clothing Store
    The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. The industry is defined as single-establishment stores only. Clothing stores (boutiques) can be strictly designer based (i.e. only one designer’s collection is sold there), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market.

    Chiropractic Business
    There are several businesses that revolve around medicine. This means that if you have the penchant for going into a medical related business, then you may want to consider the chiropractic business. This trade has been in existence for centuries. You may want to consider this business by first learning all that needs to be learnt before venturing into the trade. This is o that you are not found wanting in any area.

    Pest Control Business
    If you are thinking of starting a business that can guarantee you steady income, then one of your options is to consider starting pest control business. Pest control businesses is a business that is involved in removing or eradicating potentially harmful insects, rodent and reptiles from, farms, commercial and residential properties. These days more than ever before in the world, more and more people are conscious of eradicating things that might bring ill health to them. So you will find that it is a very good business to start.

    Screen Printing Business
    The screen printing business is some kind of business that anyone who wishes to make good money from should look up to. This is because of the level of profit that can be acquired in this trade. If you are looking to start this business, then you have to be sure that you have ample time to learn the trade. One of things that will make you stand out in this venture is the level of know- how that you exhibit.

    Gaming Business
    There are a lot of people who love games. This should be one of the things that should drive you. Starting a gaming business requires that you first lean the ropes from those who have gone before you. After you have done that, then you can begin to look at how to set your own business up.

    Fabric Business
    The fabric business is a very wide one in Nigeria as there are loads and loads of variety of fabrics. Before you begin to look at starting operation, you have to be sure that someone who is already doing well in the business is able to mentor you. Mentoring is important so that you can start out well.

    Auto-Repair Shop
    All over the globe, the auto repair business is such that is important. This is because of the need to have cars fixed. One of the things that must be done before even commencing this type of business is learning all that is required to be known in the auto repairs business. This means that you will be required to go and garner some good skills in this light.

    Aquaponics Business
    If you have been looking to start a business that is agriculture related, then you may want to consider starting an aquaponics business. This is one area of trade that sure can guarantee good returns on your investment. However, just before you begin to build this business, it becomes expedient that you garner all the knowledge and skills that you are required to, so that you do not start out on the wrong footing.

    Funeral Home business
    If you are in need of a business that will always provide services that would never go into extinction, then delving into the funeral home business should be a business you need to consider. Although most people would rather do some other form of businesses rather than opt for funeral business because of its delicate and emotional nature. However, fact remains that this business is a money spinner and it will always stand the test of time.

    Pizza business
    Pizzas can make a pleasant meal. In fact there are people who are addicted to it. They could have it over and over again. This is why those who are in the business have continued to make good money. Opening a pizza business might be one of the best moves to make. This is hinged on the fact that there are a whole lot of people who are into the consumption of it. Starting a pizza business doesn’t cost a fortune, as you can start with some small amount of cash and then grow with it.

    Solar panel repair business
    The solar panel repair business isn’t for everyone. This is because it has a very technical aspect that requires lot of patience and handwork. If you do not have a penchant for technology, then you may want to look elsewhere. However, if you do have a passion then you will excel in this trade.

    Consignment Business
    The consignment business dates back from time immemorial. It is a very profitable business that can guarantee nearly a 100 percent profit. It is pretty easy to start and it doesn’t require an expertise. All you need to do is have zeal to want to pursue the business.

    Cupcake Business-: There are cake addicts all over the globe and Nigeria isn’t left out/. As a matter of fact it is one of the countries where cakes are consumed. Therefore the American market would serve a great m
    Boutique Business-: Despite the hardship that may loom in Nigeria, people just love to look good. You can therefore, cash in on this and start a boutique business. You will need to determine where the things you want to deal in would be sourced from.
     

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