The idea of starting a lucrative business is a very tasking one because you are burdened with making sure you make profits and not run losses.
Lagos State is a megacity, where many businesses thrive effortlessly; a reason the state is called the economic nerve of Nigeria. It might also interest you to note that there are many untapped business opportunities around us with so much profit, which many or rather some individuals underestimate.
If you want to start a business in Lagos, and you do not have ‘plenty of money, then this piece is just for you. The businesses listed here have been proven to have started (by numerous people) with less than 200,000naira. However, this is not an exhaustive list, and this is in no way a promise that your business will be profitable.
It is also pertinent to note that there should not be a rush into the business because you possess the required capital, you need to make sure you are solving a problem, you need to consider business ideas around your passion, make vigorous research on your market and know your competition level, also not forgetting that your location plays a crucial role to keep the initial investment capital low yet sustainable.
Having the above-mentioned in mind, it is essential that we bring to your notice, small but very sustainable businesses with mouth-watering profits which you possibly looked with common eyes. These businesses can be started with N200,000 or even less. They are:
1. Car wash business
Car wash business can produce profits, I mean lots of money for you, depending on your plan and business ideas, and most importantly, your location.
This business should be given maximum concentration, your location is very important because accessibility to water supply should not be ignored. This business can be done anywhere in the country, it is not limited to Lagos city only.
State what someone who wants to start this business needs.
2. POS (point-of-sales) business
POS business in Nigeria is becoming increasingly popular, as a result of the low risk involved in establishing this business. However, this business requires a lot of liquidity, which means you have to have a lot of cash to give people when they make transactions.
It might interest you to note that point of sale business offers services like withdrawal and transfer of funds. To make more money or diversify interests, you might also consider airtime sales regardless of the service provider, and bill payments like DSTV OR GOTV.
POS businesses are now popular because due to long queues in banks and ATM stands, people prefer to patronise agents for commission rather than travelling to banks or ATMs.
The very little token they pay as a commission is a key to this business. This business requires getting your POS machine, a very busy location and a smartphone to easily view and access your bank transactions.
3. Production and sales of organic skincare
The trend of people wanting or rather, desiring to look fairer and natural, gave rise to the demand for organic products. It might interest you to know that the global organic skin care products market is projected to triple in the near future.
The high-rising demand for an organic body lotion for face creams is expected to drive growth, so why not tap into this market segment if you have the skills or are interested in learning?
It is a profitable one because not just the youths this time, but people, in general, are more conscious of their looks and are searching for every possible means to improve them.
4. Digital marketing business
Generally speaking, digital marketing is online marketing efforts or assets such as email marketing, social media marketing, pay-per-click advertising and blogging; they help introduce people to the company and pitch them to buy goods or services.
Nowadays, many businesses are interested in hiring people who can do any or all of the above for them.
It is clear that a digital marketing agency business is a business you can start with 200,000 nairas or rather, become a digital marketing expert freelancer if you have the skills or are ready to acquire them.
5. Perfume business
Perfume business is a very lucrative business which one can start with N200,000. Many people have ventured into this business because of the high demand for perfumes and perfume oils.
If you have the skill to make perfumes or perfume oils, why not venture into this business as a full-timer.
Yes, you need industrial chemistry knowledge to start this business, but the good news is that you can learn from successful people in the sector or industry, then prepare for your unique packaging and marketing of your perfume to the right audience like people who like to smell really nice and good.
All you need to get started is create a business plan for the perfume business, create new scents, purchase your choice of bottles then create your brand and start selling as well as giving out samples to potential customers.
This list is in no way exhaustive, there are many more businesses and opportunities that are available to small business owners, especially in Lagos. Watch this space for more business updates.
