Are you looking for lucrative business ideas for women in Nigeria? Look nowhere else. In this post, you will learn about five lucrative business ideas for ladies in Nigeria.
Making money on the side is a prerequisite for sane living in Nigeria today. However, this write-up is dedicated to introducing Nigerian ladies or any lady living in Nigeria to lucrative business ideas that can help them generate income.
As a big and growing economy in Africa, Nigeria has a diverse and massive market for all stakeholders to trade and transact. And with unemployment constantly on the rise in the nation, it is now imperative for people to start a business to keep themselves self-employed rather than idle.
However, starting a business requires doing some background work before starting a business in Nigeria. It is also essential to have a business plan to answer questions like ‘what to produce,’ ‘for whom to produce,’ ‘how much to produce,’ and ‘how to produce.’ These questions help you determine your target consumers, initial projected trade volume, the type of goods and/or services to offer, and the manner of production. Once you have all these figured out, then you are ready to go into business.
It is necessary for businesses to understand the cultural perception of their users or consumers, especially where it concerns their decision to buy or not buy a good or service. For example, there are cultural perceptions in Nigeria that a woman cooks better, and as such, more people
will prefer to buy from a woman selling food than from a man selling food. The argument here does not hold true that cooking is gender-specific but explains a perception (correlation) that can help your business structure its advertisement and sales promotion.
With these discussed, let’s then introduce five lucrative business ideas for ladies in Nigeria:
Cosmetic Business and Body Care
The cosmetic industry is a lucrative sector globally. In Nigeria, it is a business that has a large customer base. Every weekend, there is always one event or the other for people to attend. Most of the guests at these events would want to look their best, hence requiring the skills of a make-up artist.
On birthdays and special occasions, celebrants go to the salon to make up and get a pedicure/manicure. The opportunities for business in this sector are wide, from wholesale cosmetic and body care product sales, through beauty salons to just being a make-up artist. Deciding on which aspect of the business to dive into depends on the capital requirement. Whichever the choice, however, the business is one that mostly always attracts customers.
Freelancing is a unisex business idea for anyone. It requires three basic things: time, access to the internet and electricity. Once you have figured out how or where to get these three basic needs sorted, your next step is to examine your skills. The type of skills that you have determines the type of service you will render. There is no need to panic. If you do not have any skills, you can start by learning some.
Common skills rendered for service on most freelancing sites are writing, accounting, graphics designs, illustrations, coding, music and editing. These are categories that include subcategories. For example, the writing category consists of many skills like screenwriting, ghostwriting, eBook writing, copywriting, SEO writing, music writing, poetry writing, fiction writing and more.
Baking and Pastry
Food-related businesses are mostly always lucrative with proper planning and execution. The skill required for starting a baking and pastry business is knowing how to bake. As with every business and skill, you must also be a continuous learner to excel as new trends come up from time to time. Most talented bakers charge exclusively high prices when making custom products for birthday or wedding cakes. It is also good to combine this with catering, but it can also profitably stand on its own.
Whether small, medium or large scale, boutique store businesses are lucrative businesses in Nigeria. You may decide to be gender-specific, selling either female or male wears. You may also decide to sell for all sexes. You can also be age-specific or not, selling for children or adults or both. Clothing, shoes and accessories businesses receive constant patronization in Nigeria.
To boost sales, you can also create social media pages where you run adverts, sales promos and attract a wider range of customers from multiple locations. With this comes the need for delivery services, which are also widely available in Nigeria.
Okrika Business and Drop Shipping
The Okrika business is also called Tokunbo business. It involves dealing in imported used clothes, bags and footwear from European countries and the USA. The Okrika business is a solace for low-income earners and fashion freaks in Nigeria. It is a business that garners high patronage, especially with the continuous inflation of the Nigerian economy. Although anyone can run the Okrika business in Nigeria, ladies tend to excel in it when they do go into it. It is also a low capital requiring business and does not take much money to start up.
The Drop Shipping business involves importing DIY, homecare, kitchenware, and beauty products from countries like China and USA to sell in the Nigerian market. It is another lucrative business where ladies have been excelling in Nigeria.