Nigerians no doubt are business oriented people. We love business more than anything else. No matter the kind of job someone has, they will definitely have a side business added to it.
I know a lot of folks who work in blue chip companies, but they still have businesses on the other side. That is because businesses thrive in Nigeria.
Nigeria is highly populated. So any kind of business you do will surely succeed if you are ready to make a living for yourself.
Sometimes though, people don’t get to have patience for the business they just started. They fail to understand that successful businesses require patience.
There are a lot of businesses that are really profitable in Nigeria. I am going to list them from the most to the least.
All of them are lucrative, if you apply simple market strategy and good customer relation to it. Customer relation is very vital for a business to thrive.
Below are the 5 businesses I know that really do well in the Nigerian economy:
- Restaurant Business/Eatery: No matter the situation, good or bad, come rain or shine people must eat! It only requires passion, without passion you can’t operate a restaurant or an eatery. It has so many advantages too. You get to meet new people every day while you are making your money! I know because my mom once had a restaurant, and I really enjoyed working with her after I finished my secondary school and waiting for my WAEC result.
- Women Clothing and Accessories: Women clothing, accessories have proven to be a real business venture over the years. Every woman likes to look always. What you require is good location and good customer relation which matters a lot, more so you are dealing with women.
- Academic Books and Stationary: This is another money spinner; people who trade in this business are busy round the year! There is always demand for books and stationary from schools, companies and even from the government. Sometimes if you are lucky, you get a contract to supply a whole local government area. It requires diligence, honesty and good time management.
- Frozen Foods/Poultry: This is definitely among my top 5 businesses that thrive in Nigeria. It is a consumable business; people buy either in small or large quantity too. Also in this business, if you are smart enough, you should be able to get contract to supply to eateries, restaurants and big hotels. In fact I should say it’s my number one good business venture.
- Household Paints: This is a business people rarely talk about, but believe me it is very profitable. People build houses every day. What is needed is good site or location. Having good client or customer relation is also important in this business. It is another business where you can be lucky to get contracts to supply to building contractors or individuals too! As far as I’m concerned it has no season, because houses are built anytime of the year, which means you will be making money all year round!
So the above is my own idea of businesses that is really worth spending money on. But then again, you must be ready to work hard to achieve your aim of making money.
There is need for good financing too, even though there are businesses you can start with little capital.
Like I said earlier, it requires patience and determination to achieve any success in life more so, you don’t want to be jumping from business to business every year!
Do you have your own idea of businesses that thrive in Nigeria? Please share!
Image Credit: CBN