Do you want to learn about some untapped and lucrative businesses you can start in Nigeria? In this blog post, I will be revealing five untapped lucrative business ideas you can start today.
There are so many business opportunities in Nigeria, no doubt. There are products to sell and services to offer in the marketplace. Definitely, some make more money than others. Some of them make money but they are not popular–not many people know about them.
Why untapped businesses? Untapped businesses are goldmines. They have fewer competitions, and you make a whole lot of profits quietly running them. Another advantage of running an untapped business anywhere on earth is you can dominate the business before other people wake up and enter the market. After all, all businesses like to be a monopoly because being one makes you dictate for the market, and you can easily jack up your prices.
As you will like to learn about the untapped and lucrative businesses in Nigeria, let’s dive in!
1 Unbranded tissue paper business
You may have not heard about this business before. This is one of the untapped, lucrative and easy to start businesses in Nigeria. What’s the unbranded tissue paper business, you may wonder? The business involves buying unbranded tissue paper from producers, and wholesalers, and reselling it to retailers, and final consumers.
Some companies produce tissue papers without branding them. They sell them like that to traders who resell them to people. Some companies produce to save costs; while some have no time for branding. When you see unbranded tissue paper, they have no name, no label on them, only the nylon wrapper for packaging.
How do people go about this kind of business? If you want to start as a retailer, and you have like N50, 000 as your capital, take your pen and paper to write down the names of businesses and people who need tissue paper. Hotels, boarding schools, restaurants, bars, households should be on your list.
Do some price checkings around to have an idea of how much they buy tissue paper. Gather a good number of customers, and market the business to them. Go to the market to find out how much they sell unbranded tissue paper to the resellers. The more you buy, the better the price. If you are in Lagos, you can find unbranded tissue paper sellers at Trade Fair Market and Balogun Market.
Now, you market the unbranded tissue paper to your customers–that you can be selling tissue paper to them at cheap rates than what they buy around. Once they place an order, you go to the market to buy the products.
You can brand your tissue paper before selling it. It makes people take your business more serious and the perceived value of your products will increase too. Nothing difficult about tissue paper branding.
After you have come up with the name you want to give your tissue paper, head to a printing house, and tell them you need paper labels for tissue paper. They will come up with different designs. Pick the one you are satisfied with. Get the labels printed and put them on your products. Start selling to customers who want to buy. Simple.
Also, you will tell them to always reach out to you anytime they need supplies. You are in business, if they don’t call you, you can simply dial their lines to find out if they need supply.
Do you need any assistance with starting this business? Reach out to me, please.
2 Unbranded serviette paper business
This is another untapped business in Nigeria. The business of unbranded serviette paper is similar to unbranded tissue paper. Mostly same customers and the same method of selling. Though, restaurants and food canteens buy more serviette paper than tissue paper.
You can buy serviette paper to resell at the same places where the tissue paper is sold. You can also be a wholesaler selling to retailers who want to resell. This requires more capital than N50, 000.
3 Barbering cosmetics and equipment business
To date, the barbering cosmetics and equipment business is among the untapped businesses in Nigeria. The business involves the selling of barbering equipment like–hair clippers, sterilizers, towel warmers, trimmers, shavers, nose trimmers, neck paper and barbering cosmetics like–powder, aftershave, hair cream, shampoo, conditioner, oil to barbers, resellers and final consumers.
Barbers cannot do without their equipment and cosmetics to deliver excellent services to customers. They need clippers and trimmers to cut the hair, combs for combing, powder for shaving and dusting, and aftershave to apply after a haircut. Some of these things are consumables.
If you are looking for an untapped business to start, you can consider this one. It takes some learning to stay profitable in the business. If you have a passion for it, you can learn anything.
The business moves well in the markets where large numbers of people come to buy products because they think it’s cheaper to buy in an open market. However, you can have a shop on a busy road too and target barbers to patronize you.
The importers and wholesalers of barbering cosmetics and equipment are located in Lagos Island Market, Arena Market and Trade Fair Market. These are the markets you can buy products from at profitable rates.
Barbering tools and cosmetics businesses are among those businesses that I know about very well. I can assist you in starting, and growing the business. Do you need help? Reach out to me.
4 Concrete casting business
I bet you don’t know about this business. What is the concrete casting business? The business does casting of lintels, pillars, deckings, and floors. Concrete is sharp sand and granite that is bonded with cement and water using mixing machines or hands. The process of making the concrete is called casting.
Everywhere you go in Nigeria, you will see new buildings springing up. In cities, people don’t build bungalows again. After spending millions of naira to acquire land, building of something of low value in returns like a bungalow is a no no. Economically, it doesn’t make sense.
People erect buildings with storeys now–up to 20 storeys. Gone are the days when the hired bricklayers are still going to be in charge of casting. Now, the concrete casting businesses do the casting and make work to be fast and smooth. From deckings to lintels, concrete casting businesses do the job.
It requires a huge amount of capital to start this business in Nigeria because of some essential tools you need to kickstart. However, they can be borrowed. It’s better to own them to speed up the work. You need at least a concrete mixing machine, a mini truck to convey the machine and workers to the site, and some experience labourers.
The mixing machine is used to mix concrete. Some of your experienced labourers will be operating the machine; while the remaining ones will be collecting concrete from labourers and pouring and laying it in the appropriate place to ensure that the concrete is properly cast. The rest of the workers will be conveying concrete with the iron pan on their heads to where it’s needed. Yours is just to supervise.
Later, you can choose a supervisor among your workers while you stay at home or market your business to site engineers, real estate companies, and individuals who will need your service someday.
You get paid per project. The amount you charge depends on how big the project is, and the number of labourers you are mobilizing to the site. Proper calculations have to be done here in order not to be in losses.
I know a man who started this business some time ago. He is doing very well today. He has achieved most of the things men do in this life. He started humbly–he used to be a site labourer. He thought about the business one day. He raised money for the mixing machine, and rent a truck to convey workers till he was able to buy his own. But today, he doesn’t visit the site where they work. Supervisors do the work.
This is another untapped business to look into if you want to make serious money in Nigeria.
5 Mobile cleaning business
Really, it doesn’t take much to start this untapped and lucrative business of mobile cleaning anywhere in Nigeria. The business thrives more in the city. This is what the mobile cleaning business does: you help people to clean their apartments one time or at intervals.
People are too busy to carry out some tasks for themselves these days. When they rent new apartments, they like them to be cleaned for them. When they start to live in the apartment, they want someone or a business who will be coming once a month or in two months to sweep the house, clean the windows, clean the chairs and make everywhere to be free of dust.
You can start this business with a little capital. You need to employ at least one person to do the cleaning jobs together. As time goes on, you can increase the number of your workers and you supervise only. You don’t even have to be at the place when they are doing the cleaning. You get paid 50% to 70% upfront before starting the job.
This business can be later upgraded to a full-blown cleaning company that have offer cleaning services to corporate organizations. Check online, you will see stories of people who began humbly like this and later turned things up and become successful.
Wrapping things up
Finally, you’ve made it to the end of the post. Unbranded tissue paper business, barbering equipment and cosmetics business, mobile cleaning business, unbranded serviette paper business, and concrete casting business are among the untapped and lucrative businesses in Nigeria.
You can pick any one of them to start today. However, there are so many other untapped business ideas in Nigeria. I just cover five out of them here to make things easy to read and implement. Among them, there are ones that require very little capital to start; and some that need a huge amount of capital.
What do you think about these businesses? I would really love to hear from you.
Do you have suggestions or contrary opinions? Please, leave them in the comment tab below. Also, do not hesitate to reach out to me if you need any assistance.