Breaking News
Translate

10 lucrative small business ideas you can start now

As much as money is important to start any business, the most important thing is creativity. Many big companies today started from somewhere. If they can do it, it is never impossible for you too.

With the little or no capital in your possession, you can still do something. Entrepreneurship is not a profession, it is a mindset.

Here are some small business ideas for serious entrepreneurs:

1. Mobile food

Just as the name implies. Mobile food is an alternative to starting a brick and mortar restaurant. It requires you moving your delicious delicacies from one point to another to sell to customers.

You will be responsible for selling breakfast and/or lunch to the working populace in your targeted area. Speaking of selecting a targeted area, make sure it is a working or a busy environment because that will guarantee your success. So before getting started spy round your city to identify the most suitable location for your business.

2. Start subscription services business:

Another idea is to set up a subscription service business where people can subscribe for a regular supply of a particular product or service. You can also supply it to your subscribers on a regular basis.

Your success in this kind of business will require you to build a large subscriber base.

People can subscribe to a monthly supply of health products, beauty products, pet care, vehicle maintenance, machine maintenance, fitness services, and courses and so on.

To make subscription easy for interested people, you can set up a website for the business and highlight all the features and the details customers need to know about the services.

The website also will help you to take your business beyond your location, which means more customers and more customers more money right?

3. Piggy banking service:

Cultivating a saving culture is very important for many people these days. Therefore, you can set up a piggy banking service with a website or a mobile application that allows people to save money remotely and get it after a short period, preferably with interests.

You can also introduce some terms and policy to encourage savings such as restricting them from withdrawing their savings for a certain duration of time. Thinking if what you stand to gain from this kind of business? You can benefits from it in two ways and they are:

  • By lending out the money to anyone who is looking for a loan opportunity and add interest to the actual amount you are giving out.
  • By investing the money on other profitable business. However, you will need to be a good investor to leverage this and avoid getting into trouble.

4. Speech writing service:

Have you ever been praised for your eloquence before? And people have told you they like the way you write? Maybe it is time to start earning with that skill.

There are top personalities in search of a speechwriter. If your budget can afford, hire some good speech writers to compensate for your weakness (if any) and to also handle workloads.

You can also set up a website for your business to reach out to more prospects. Or set up a website that will connect speech writers with clients and commission from the payment of any job the writers executed.

5. Labour squads

Organising labour squads is a very lucrative business opportunity for any desperate entrepreneur who has no fund to start a business. It is a type of business you can get started with an empty pocket. All you have to do is to recruit employees on behalf of employers and earn a commission from employees and service charges from the employers.

This business opportunity is also known as a recruitment agency.

6. Start pet boarding/working

There are many people who own pets in major cities in Nigeria but there is no pet boarding in most of these cities.

People who need to travel usually need a place to keep their pets until they return so that they don’t starve and can be well monitored. You can set up a place like this and earn your money right away.

7. Memberships website:

A membership site is one of the best fruitful online business for info-pruners or professional who love to educate people. If you have a knowledge of something and you want to monetize that knowledge online then, you should create a membership site, so that you can sell your skill to your website subscribers.

What is a membership site?

A membership site is an educational website with exclusive content only available to its premium members. The best thing about this business is that you don’t need a warehouse or shop to get started. All you have to do is to set up your website and make sure it is users friendly.

Who membership site is suitable for?

A membership site is suitable for someone with an exclusive skill and knowledge and ready to share it with people in exchange for money. But your main aim in creating a membership site shouldn’t be money. It should be the wiliness to help people acquire new skills and boost their career. By doing so, the students will happily pay any amount you may charge.

Here are some hot niches that people are eager to learn and pay for;

  • Make money online
    Web designing
    Personal training
    Graphic designing
    Cooking
    Academic coaching and more

8. Digital marketing agency

If you have knowledge of online marketing or digital marketing skills then here is an opportunity for you. If you don’t have the knowledge yourself but competent in setting up the agency and employ specialists, you can also leverage this business opportunity.

Digital marketing is one of the most used strategy in marketing nowadays. The world has gone global internet-wise. As many people are switching to internet likewise, business too.

Most of these business owners aren’t digital marketing expert. So they need someone, group of people and company to help them out and that person may happen to be you or your company. Therefore, if you want to invest in businesses that definitely make you profits, then consider digital marketing agency.

9. Ecommerce

Do you operate an offline store? Why not operate an online version of it. If you are planning to sell things, remove the cost of renting a building or shop. Leverage the internet instead.  Sell your products online.

Negotiate with a bike man or any other affordable delivery company to help you deliver your orders.

You can also invest in dropshipping. In this case, you do not need any monetary commitment. You are like an intermediary. Post pictures of products from a seller and get contacted by interested buyers.

Negotiate beforehand with the seller on how so that when you receive an order (payment should be more than normal price), you pay the seller the actual price pocketing your own gain and instruct the seller to ship to the buyer.

10. Mobile hair salon

The traffic and hassles of moving around busy cities can be very discouraging for people who need to visit the salon to get their hair done.

You can set up a mobile hair salon that would be fully fitted with all the tools and equipment needed for such services.

Then go round providing these services to people who need would prefer to get their hair done in the comfort of their homes.

Summary

All of the small business ideas listed above are profitable business opportunities. Which one of these businesses are you going to start? Is it?

  • Mobile food
  • Subscription service business
    Piggybanking service
    Organizing labour squads
    Speech writing service
    Pet boarding
    Membership site
    Digital marketing agency
    Ecommerce
    Mobile hair salon

There you have it all. Money is important to start a business, but creative matters more.

Vanguard News Nigeria.

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!