Running a business in nigeria is hard in today regime. If you have been there and still hanging around, you will understand how heat of maintaining a business has become and if you are new, the chances of making it will be low because newbie cannot survive with economic hardship. It's easy to start a business but maintenance and running cost is the problem in this country.
I've you ever been in a situation wey you dey think which business to do with money wey just enter your hand?Like better money enter your hand but you don't know what business to do with it.
I want to tell you all 4 correct businesses wey you fit use am do wey go yield better profit at the end.
1: Fish farming or Poultry farming: The demand for food product na constant thing. As the population dey grow na so the demand for food too they increase. You can start with a plastic tank or tarpaulin for the fish farming. You can also rent ponds from people. There are people that have ponds they rent out for fish farming purpose . The profit in fish farming is huge. Na my parent business be this so I know what they make from it.
There is something about fish farming you need to know and the main people who run them will not tell you. Fish business is of two types, there are people that goes into rearing fingalings, feed them until they reach the target kg before they are out for sale which you just explaind but the loss you will encounter in this one is deadly especially if you are not expert or have experience. Sometimes is not about the fish having sickness, there is high rate of cannibalism in fishing farming where the fish eat there self. They do that a lot when they found others are sick, they eat them in less than 24 hours before you come for check up and some also die naturally.
Instead of buying fingerlings from scratch and rear, it's better you go into hatching business. This is where you have your own fish pond, mate the male sperms with the female eggs and they produce fingerlings after some days. You can sell them to people who buy to feed until maturity. The loss been a hatcher is far minimum than the fish farming itself and it's more lucrative without doing much. Think twice before you venture into fish farming my brother.
2: Mobile money AKA POS business: money dey for pos business, no look am say e no dey. Just get a good location and the place busy. Pos business provides convenience to a lot of people that don't want go through bank hassle. I am among the first people who started the POS business before it became a global thing 😃. I made a lot of money, and I am still doing it.
The first challenge of this business is that it's already saturated, meaning you will make less profits if you are starting in a new location but if you have a busy area and no any available, you may make more profit but it's rare these that you will pass through any street or corner without seeing a POS business.
Another challenge with this one is that you will likely get scam by some people if you are not smart ahead of them, you need to have 3 eyes to succeed in POS business because there are possibilities of collecting fake cash deposit, fake transfer, fake alert and even getting rob if your location isn't secure area.
3: online business( E-commerce) With the increase social media engagement, starting online store by selling various products is very lucrative. You fit sell shoes, clothes or anyone of your choice. The reason I love this one, you don't need to rent a physical store, people go dey see your product online. Just make sure say your product are of good qualities and deliver to your customer on time.
Online business no dy work for Naija, you should said drop shipping instead. Drop shipping is buying stuff from e-commerce and then bring them to Nigeria to sell. Many of the vendors we have on Instagram, whatsapp, Snapchat and tiktok are into drop shipping and they make money from them.