Topic: Suitable business ideas - page 2. (Read 408 times)

You for just carry this your topic as reply go this thread; Four Lucrative businesses you can start in Nigeria because as I read your thread I remember say we dun discuss something similar recently wey concern businesses wey person for do for the country. Me I no too believe physical business because I no too see money for the thing although e dey every presentable based on the country wey we dey wey people go like know wetin you dey do to get the kind money wey you dey spend especially when you dey loud in your spending and when you no fit show dem any better physical business, dem go automatically think say you be illegal person as a yahoo boy or other illegal business and e fit put you for trouble. Apart from this I no see any other reason to engage in physical business if you dey do online and e dey pay you, just for just invest more into other online business and secretly be making your money.


Guess who your patronizers go dey mostly be, na yahoo boys because the average Nigerian no fit buy boutique cloths. Na only yahoo boys and some tech legit internet hustlers wey dey patronized boutique business because things too cost for dat side. Wetin you go see #20k for outside fit be #50k for boutique and this boys no dey price dem but just buy am and na wetin make boutique owners keep on increasing price. So although the business dey recreative but e go take time from you to run as you no need put person for the shop or dem go fall am for you. This days sales boy no dey trusted again as everybody dun open eye. Him fit dey your shop open e own so focusing on internet business is still the surest way of hustling provided say the hustle legit and you can defend where the money is coming from and also maintain low key life so people no go too dey shuku eye for your business.

The truth be say, if you wan run multiple streams of income, that one no be problem. The major problem be say, make you get a steady stream of income way the money big for you to fit diversify to another source of revenue or business. Because starting a new business get ups and downs, you fit start a new business now then suddenly you don dey run into losses, so in a bid to still keep that new business going, one steady stream suppose dey by the corner to always stand as a leverage.

Another matter be say, no be everybody Sabi the technique and ideas to run two business one time. Because that thing needs patience, understanding and focus to fit keep your head straight for the business.
So I feel say the idea to get multiple streams good oh, but na few people go fit run am

I think a topic related to this has exited before I guess where many people listed the kinds of business they have ventured into and are also good for people who want to start any. Most times when we come across such topic or thread we don't need as well to further in creating similar topic it makes looks very messy and unclean, most of them could be filtered out as a repeated content.

Ops I most commend you for this thread sake of say most of people dey try look for business were them go do,  as alternatives,  this thread will help a lot of the local board members to share ideas and experiences on various available businesses and their capital demands and location suitability and the rest of what have you,  have read almost all the comments made on this thread,  but I am yet to see some kind suggestion that are practicable and applicable to our current economic conditions and locations.

Yet also we must try to put eyes on businesses that can easily be licensed to avoid running into trouble when the business eventually picks up because the government will always come for you if you running an unlicensed business,  so you have to be prepared for that,  most people that are running a physical business are suffering from the over taxation and government interferences due to unlicensed operations.

This is the motivation needed to begin a business cause!!! But then before deciding a business option to go for; there are underlying questions you need to answer that will help you reach a business idea destination quicker.

1. What does your community lack? (Community here means what is unavailable in your immediate environment); If you solve this, you have an idea of what type of business to do or to start up.

2. Are there willing buyers for what your community lack? Like, do people buy those products from else where ??

3. How much will it cost you to make what your community lack available for purchase? Will it be small scale, medium scale or large scale? What will be your profit margin if you endeavor into the business

Finding answers to the 3 questions above are very vital before you determine your business idea.

For example; in my neighborhood; there is no football viewing center, you have to take bike worth 200 naira to the nearest viewing centers, and most times there are always no seat for clients; we have to watch while standing; with good capital; starting up a viewing center powered with solar; with cheap fees will mean i have an abundant of market to sell; with profit only realizable on a long term package.

You can share your contributions too

Me I no go fit put eye for this business oo . Even to run all the shop business wey you go come dey pay rent dey tire me. In fact some business dey, wey be say you no go fit pay their rent after the initial rent expire and boutique na number for that level. So me I no see boutique business as business oo, for me e no follow. If na that frozen foods now, that one make sense. In fact, any business wey be about food especially cooked food na better business if you fit manage am and give am time.

This your business thread is a welcome ideas because there are people who wish to own a business but doesn't no the particular business to venture into but perhaps this thread it can serve as a guide or suggestions platform were people that is business oriented could advise or give suggestions. So to me boutique business is actually a lucrative business but finance needs to be considered because to open a standard boutique requires 2 to 3 million if not more than that so is advisable going for the one that's well suitable with your pocket.

You get better business initiatives for way u don map out for here, and we as person no where we get experience and which one way go Favour us more, this boutique business and POS nah one thing way get plenty competition, and this one nah base on say people notice say eh hey plenty customers way they come for and per say dem they get better gain from inside, but when I been take time study the two business, I notice say business no be just Watin person go rush enter, man need study Watin they involve for the business and Watin and Watin u need to carry start an and how to carry meet up with competition, before you go come think of capital to carry start am.

For the boutique, you gat first study the area way u need open am before you rent shop for their, no be everyone they move market and places way they move market u need check out the price of shop rent and the money way u get for hand to carry start am, if u rent shop how much go remain to carry arrange the place then buy goods, then you need be the kind person way fit get better eye for Watin other go like, no be just to go market to carry any and any how thing full shop base on the type of things way u ur self they like. If you fit figure out this one’s them and u get better capital to use start am u fit enter am, but for boutique business packaging and connection they really help boast am fast fast, come add how u carry they market ur place.

Then for POS most people they see am say nah one kind easy and money making business, but if u check am well, bro u need small skill to successfully run am, u need get mind to fit they challenge and open eye for some people way they carry wayo come make some kind withdrawal, fake alert, counterfeit, some people way they manipulate ATM card carry make empty card successfully for withdrawal way be say the money no go later land, u need learn how to carry they pass all this temptation, so that u fit no run enter lose, the way the business carry they bring money nah so u fit take lose money.


Me for now all business nah better one nah just for person to check the one way him fit handle, I see agriculture as one good one way fit benefit person well, if u put am into better hand and u study am well especially for this fish farm kind of stuff and to train broiler and other species way fit survive, they give better profit.

This boutique business nah the kind of business way go need about N2 million or N3 million to take start am and you Know say this kind of business the common men no go fit do am because you go need huge capital, as things take they coast for the country, even the shop too join, even if you use N1 million take start, your shop go they like say nothing they inside so imagine say you they buy the cloths for Lagos, you go spend big money for transportation, N1 million nah small money to use do boutique business unless you won sell fake things.
Although the boutique business nah good business to do, as we done already they enter the season way cloths go move markets ( Christmas period), despite the economy situation people still they buy new clothes (like them talk say life nah packaging and nah true), and this boutique business, no get stress you fit they do your internet stuffs for one side of your shop or you even employee somebody to work for you.

The frozen foods business nah another good idea as even the common man and woman fit do am because you fit even use N300k or lesser amount of money take start the business and food nah one thing way they move market because at all at all man must wack, if meat no they fish go they.

You coming up with this thread is a very good idea, as it gives room for people to discuss alternative source of income, which is very important in this our present hard economy wey we get for we country, and a wake up call for people not to put all eggs inside one basket (i.e rely on just only one source of income). Because on the contrary, that boutique na one better business to venture into, and likewise P.O.S and Barbing salon or Beauty shop na another good business wey if you go into it, at least you are rest assured to have enough time for yourself and forum to fit dey meet up your post count. Because from the little savings I have been able to generate from this forum, I have been able to use it open small P.O.S business & employed someone wey dey fetch me the least every day, and there is nothing as good as getting small small money every day.

Many bitcoiners are using their opportunity well by creating different investments in different locations in the country if you don't know,  just that they will not tell you that they are the owner of such companies for security reasons. Some of them are into gas and oil business which I know very well

Not by mouth OP, but you need to work hard before you will be able to get such amount of money to establish those businesses you mentioned here because, they require a big capital to start a boutique business in my area. For you to get a shop here to start a boutique business you have to pay millions to get the shop, and you need huge amount of money to furniture the place before storing clothes to sell and it will cost you close to billionaire but you will surely recover from your expenditure when you establish the business.
What is in my mind now, if I have the opportunity to get this money , I will go into exporter because there are some products in Nigeria you can export to other countries and start making millions monthly, and the new controller custom officer has came out public on human right and television to promised Nigeria youths to go into exporter that they will  do everything possible to encourage them.

This nah correct idea you bring here but comma dey dis business. Firstly, for this kind business to thrive, you go gats dey area where steady light dey show else you don run loss be that o. You know say the issue of light nah big one for naija. E get some areas wey never use eye see light and if you wan dey use Gen dey keep am cold, you no how much fuel dey cost. Abi you wan use gas cylinder dey do am? That no healthy na.
 Secondly, if you no dey area wey big men full, that business go choke. Why I tok so? With the way hunger don dey land, the average man go reason to fill him stomach before him go reason chicken or even fish as the case maybe. Frozen food business nah confam one but if the right tins no dey in place, nah better liability you dey bring give yourself because if means no dey to keep am cool, nah to sell below the price to avoid goods getting spoiled.

I was just thinking about the situation of the country, how to survive and how I can expand my stream of income and a lot of ideas came into my head so I decided to make this thread... the aim of which is to share and also see opinion for the benefit of all.

Well, I do not need to tell you all that maintaining one stream of income is not safe especially in a country like ours where people are under-employed and our currency is depreciating daily. Good enough, many of us in this forum are engaged in one thing or the other that generate income, leveraging the power of the internet. However, I feel many of us have not been able to also create physical businesses that will play complementary roles to this "internet money".

So this thread have been created so we all can suggest and discuss different business ideas that those of us in this culture of internet can venture into, that will not stop our activities on the internet yet can enable us generate considerable income to complement what we are already doing.

First business idea I find great is boutique business. Clothing is one thing that is booming and have high demand. If you open a boutique, you can create your mini office within the boutique and doing your internet stuffs while still monitoring the business.

Another business idea that entered my mind was frozen foods. This is another line of business that is of high demand and the goods are not perishable as they remain frozen and preserved. With this, you can still run your package while observing your business.

Let me stop here while others give their suggestions as well and as we continue the discussion, more ideas will come.

WE MUST MAKE THIS MONEY.