The idea of starting a business can be exciting and liberating. There are thousands of ideas that any individual can start, and with proper planning, develop into a successful business.
In this article, we are talking about the best businesses that bring daily income and the cost of starting them. The feeling that we can have some amount of money going into our account every day can be liberating. It gives us a sense of freedom and less worry.
Below are the top 11 businesses that you can start today, and with planning, and preparation can succeed.
Money Merchant
A money Merchant is like a human ATM. They give you cash and debit it from your account. It saves you the trip of going to the ATM because money merchants are much closer to us.
They are no surprise by the high rise of money merchants. It is because they solve a problem, time-wasting. The ease of just going to a money merchant just next to your house to get cash is amazing. You don’t have to take transport to an ATM and spend hours in the queue.
You can start a money merchant business with as low as ten thousand Naira just using your phone to receive transfers. You can later upgrade up to a POS machine so customers can use their debit card.
Selling Used Goods
When it comes to used goods, there is an endless supply and also an endless demand. The phone, computer, and house old electronics market have seen a rise in demand in Nigeria these years, and demand keeps increasing.
If you plan to step into this pool of high demand, there are a few things you have to note that will give you an edge in the market.
Quality and Branding. These are the things that can make you stand out from the rest of your competitors. Assuring your customers that your product is used but still very much ok is very important. It will give them peace of mind and will want to do business with you.
You can start with almost any amount of money. If you don’t have one, you can sell the stuff you don’t need anymore, then use the money to buy more used goods and resell them.
Hair Salon
If you are going to start a hair salon, then start it the right way. It means getting all the necessary equipment and space to start your business.
You don’t have to get expensive equipment to start a hair salon, male or female. All you need are the necessities.
To start a salon assuming you already have a space to use. For males, you need around N50,000, and for females, you will need about 70 thousand. If you want a unisex salon, then N100,000 should be enough to start then you will upgrade later.
Restaurant Business
Now this one business (Click here to see how to register a business in Nigeria) that doesn’t seem to go out of need. More food vendors are starting every day, and demands keep increasing every.
Just like a business that brings daily income, a restaurant business’s start-up costs can range from N50,000 to about N5 million, and even more than that.
The goal is to find out what kind of food you want to sell, then look at the capital you have in hand. But remember when it comes to a restaurant business, branding is everything, it can take a small food business to another level of sales.
Transportation
Starting a transportation business in Nigeria can be very lucrative, and they are no shortage of people who want to move from one place to another. Transportation in a country like Nigeria varies in type, and picking the one that fits you is important.
Starting a transportation business can cost you anywhere from 200,000 upwards depending on,
- Mode of transportation
- duration of transportation
- type of vehicle for transportation
In Nigeria, a ordinary bike man with one motorcycle draws in about N5000 daily, or a normal seven-seater bus traveling from Kaduna to Lagos can make about N65000 daily, So it depends on you and your budget. You can decide to buy a car, a long bus, maybe if you have so much money for a plane.
ECommerce:
If you think there is no way to make money from home or a small office with just your laptop and an idea, thinking again.
With the number of internet users increasing every year, they have no better time for eCommerce.
ECommerce in Nigeria is at a current valuation of 12 billion dollars and is projected to reach 75 billion dollars by 2025, which is more than a 400% increase in just five years.
To start an e-commerce business you need little to no money at all. You need,
- A website, you don’t need to know how to develop one, with WordPress and Woocommerce plugin anyone can build a eCommerce site.
- An idea on a product you want to develop, can be a digital product or physical product.
- A Brand Name, (Branding your business makes it look more attractive)
- A particular niche ( your idea needs to focus on a particular niche, this will help you know who your audience is)
- Some online marketing skills.
Freelancing:
When it comes to freelancing, it is all about skills. What skills do you have? In this current age of the internet, you can freelance almost any skill online, all you need is to know what you are good at or try to get good at a skill, and people will pay you if you can get the job done.
- Web design and development
- Graphic design
- Content Writing
- Digital Marketing
- Software developer
- Social media Management
- Voice over skill
- Photography
- Teaching
- Internet researching
- Virtual Assitant
And they are many more. All you have to do is just pick one then master it.
Dry Cleaning
These might seem like an odd business to some people, but dry cleaning is a money maker. People are always trying to do less and earn more, trying to see how they could always save time so they can focus on something important.
Most single guys and girls that work full-time don’t have time to do these properly.
This is where you come in. If you can assure people that you can help save time, then you are in business. You have to understand one thing, you are not just in the dry cleaning business, you are in the time-saving business.
Starting a dry cleaning business can cost you about N70,000, with little to no equipment, and over N1,000,000 with amazing equipment that can make your work easier.
Car Washing
With so many people going to work very early in the and coming back late at night, most of them don’t just have the time or energy to wash their car and the truth is everybody wants to drive a clean car always.
The average cost of washing a car ranges from N500 – N2500, depending on your location. A single car wash business in a good location and excellent service can earn N15,000 – N60,000 daily.
The startup cost, if you already have a space can cost about N350,000 with little to no equipment, and over millions of naira with amazing equipment that can make your work easier.
Haulage and Courier
This kind of business has to be done smartly because it entails a lot of logistics.
In simple terms, this business is all about carrying goods from one place to another. The distance is up to you. Many courier and haulage businesses have started over the years, but you can start your own small business and still make a lot of money daily from it.
For example, you cant wish to help all deliver food from local restaurants to the people in your community. You can use a bike or a car witch ever one you want.
If you have a lot of capital, you can start transporting goods from one community, state, or country to another.
Sport Viewing center
A country like Nigeria that has a high number of Football fans, sport viewing centers will always be popular. This is because people don’t go there because they have TVs or satellite cable at home. They go there for social fellowship with themselves.
The only wish is that some of these local viewing centers should upgrade themselves.
To start you will need a satellite cable that has the right channels showing these games, space, and chairs. The average cost per person to view is N100 – N500.
Author
Abbey Johnson has a Masters degree as an engineer and has over 3 years of teaching and research experience. He is happiest when on a bike and is also interested in electric energy and computer Science.