If you want to know about businesses that move fast in Nigeria, read this blog post till end.
Transforming is the best word to describe the business atmosphere in Nigeria. With the introduction of technology, the business world has taken a completely different turn. Today, buying and selling are only a click away. It takes only one button on your smart device to buy anything from online stores.
This transformation has brought many business ideas and alternatives. This article will help you as you try to decide what business venture you want to go into with regard to the many alternatives that already exist.
Why is this necessary?
Because we do not want you to put your time and money on a venture that will not yield any plausible return or will take years to start yielding a return, to ascertain your curiosity, let us explain further.
Nigeria’s ever-growing population and the necessity for entrepreneurs to thrive, the venture choice has always been conflicting, as there are too many alternatives to choose from.
Often, entrepreneurs make a bad choice and spend years trying to break even. The impact of such bad choices only put these entrepreneurs at risk of bankruptcy.
In this article, we have exclusively selected business ventures that will limit all excesses that could result from making a bad venture choice. In doing so, we put a couple of factors into consideration. Let us share them with you and tell you why they are important.
- Ease of starting
Some ventures need a lot of start-up capital; for example, starting a clothing shop will require rent on the shop(space), transportation of items, and even more expensive if shipped. And there is a possibility of damage during transportation/ shipment. All these costs affect the level of returns and the time taken to have these returns.
- Degree of patronage
We also consider the amount of daily patronage that a business venture will get with consideration to people’s daily needs, in line with trends in things like fashion, food, technology etc.
Haven explained these important factors and how they affect the business sector in Nigeria. Here are the ten fast-moving businesses in Nigeria.
1. Transportation ordering business
Moving about is a major thing people do every day, from going to work to going to the market to going to school. Transportation is a daily need, and as such, patronage will be on a daily. The population in large cities like Lagos, Port Harcourt, Abuja, etc., aids this sort of business.
The ease of individuals ordering a ride from home without going to wait for buses at the bus stop, and having your ride take you to wherever you are going without having to stop at bus stops, is a new trend that people buy into regularly.
The transportation ordering business is a very lucrative business in Nigeria with an ever-growing population.
2. Food ordering business
Like the transportation ordering business, the food ordering business is also a daily necessity since people must eat daily. Isn’t that interesting?
People now order food from the comfort of their homes. Venturing into the food ordering business is a plus for you.
3. E-shop/ Affiliate marketing
The e-shop/ affiliate marketing requires only your smartphone or laptop. It does not even require start-up capital. Yeah! You heard that right.
Affiliate marketing only requires that you register with an online shop like Amazon, Alibaba, Aliexpress, Jumia etc. and order goods straight to your customers from the wholesaler. The juicy part is; that you don’t buy to resale, you sell your customers directly from the wholesaler and still make your profit. There is no chance of running a loss at all.
In our subsequent articles, we will be exclusively showing you how to register and kick-start an e-shop/ affiliate market. Keep your fingers crossed!
4. Restaurants
Restaurants are also very lucrative businesses, especially in populated areas. Since people must eat, most people don’t have the time to cook at home, so they usually opt for restaurants to get their meals.
Starting a restaurant is quite tasking, but the high rate of patronage makes up for all that effort.
5. Computing business
Computing businesses such as web design, graphics design and programming, and typing and printing have proven to be the new trend since many other businesses always require these services to thrive in the market.
Almost all businesses and companies in today’s Nigeria need flyers, websites, and mobile apps to optimize their service delivery. This means that the service of computing is always in special need. Consider learning one of these skills.
6. Farming
Farming has three categories: crop farming, animal farming and fish farming.
A crop like cassava has always been and will always be very important to Nigerian society since its major food, Garri, is processed from this particular crop. Cassava is also used to make flour. Apart from cassava, other crops like rice, beans, yam and millet constitute the basic Nigerian food items.
Animal farming is lucrative as well since milk, chicken, beef, cheese, etc., are all gotten from animals. These kinds of products attract daily sales in every market.
Fish farming, just like crop and animal farming, gets the same traction since fishes also constitute Nigerian food.
7. Fashion
Undoubtedly, Nigeria’s ethical and regional diversity is based not only on language but also on fashion. Fashion has always been a norm in the Nigerian space. Nigerians believe that the better you dress, the more you are able to show people that you are faring well. That is why they will readily patronize fashion houses.
Even more important is the incorporation of the Nigerian fashion style into the global fashion market, making it one of the focuses of exportation. This has so far made the fashion business in Nigeria a lucrative one.
8. Sports betting business
Nigeria’s passion for sports, especially football, is second to none. The fan base that football has generated in Nigeria now gives entrepreneurs the leverage to monetise sports through sports betting.
Since almost everybody loves sports, most people just bet to show their support for football clubs. Bet9ja, BetKing, and other betting platforms are doing so well in Nigeria.
9. Pharmacy business
This is very funny, but Nigerians are number one when it comes to self-medication.
But even if we don’t consider self-medication, due to the population density in Nigeria and the need to fight common diseases like malaria and flu, pharmaceutical businesses never lack customers.
10. Catering business
Nigerians are also known for their celebrating lifestyle. This is why a Nigerian will celebrate birthdays, weddings, anniversaries, childbirth, and child dedication with many invited guests.
If you are a caterer in Nigeria, be ready to make hundreds of cakes, thousands of meat pies and small chops every weekend. Isn’t that good news?
Conclusion
Many business opportunities are available in Nigeria. If you are about to start a business, consider the ease of starting and the patronage you’ll get daily. You can always contact us for advice in putting your business together.
Please, do let me know if you have any questions, contributions or contrary opinions about this information. Simply leave comments below. I would really love to hear from you.
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