.jpeg "Top business to start in Nigeria with low capital") |
| Credited by the Nigerian Guardian |
Top Business In Nigeria
For top business to start in Nigeria, the busiest and most vibrant time of the year for everyone in Nigeria- the 'Ember' months- is here again.
While many workers look forward to the extra work-free days they enjoy in this season, small business owners or entrepreneurs see it as a time for more work, more sales and more profits.
The shopping, outings, family get-together and activities such as weddings, funerals, launchings, convocations, carnivals, etc, that are usually tied to this period, present a unique opportunity that smart entrepreneurs can capitalize on to make more money in Nigeria.
There are types of businesses that you can quickly do it and make money during this season and make money without paying a dime to rent shop.
Top Lucrative Business To Start In Nigeria
1. Hamper Business
Hampers are gifts packs that are usually given to or exchanged between families, clients, friends, colleagues, customers, etc.
Or simply put, hampers could be said to be a gift pack given to someone you want to show appreciation to.
Hampers are usually given during Christmas and New Year celebrations though some people also approach hamper business people during Easter period.
Any one can go into hamper business during the festive season as long as they all know the people to approach who would patronize them and they can be creative about it.
How to Start Hamper Business
1. You must contact customers again so that they won't get snatched by competitors if you are in the business over the years.
2. You must have done your leg-work properly if you are not in the business before and you want to make quick money during the festive season.
3. Get an order before you go into the business.
4. If you want to sell hampers for high profit this Christmas, you should have started to talk to potential customers, be it families, church members, pastors, office heads, etc-anybody that you know that would be interested in giving out hampers to people.
5. Step out some where with your hamper packs and show it to people that they may buy or that you can convince them to buy it after seeing your packaging.
6. You must buy consumable or non-consumable items so cheap from the popular international market.
7. You need to buy plastic containers or baskets for packaging of hampers, not cane baskets because it is not good. It can easily break because of its age long tradition.
8. You must check the expiry date of all items you are buying.
9.Use only consumable products that have at least one more year before their expiry dates because some hamper recipients sometimes don't get to finish using the items in their hamper until middle of the following year.
Where to Buy Items So Cheap
You can buy items cheap from Mushim Market, Idumota Market, Lagos state, Ogunpa Market, Agbeni Market, Dugbe. But for those who reside outside Lagos or Ibadan, I don't know where they can make their own purchase, but you can always ask around.
Two Categories Of Possible Hamper Items
It depends on the customers'choice, hampers can be categorized in two ways: Consumable or Non consumable Hampers.
For consumable items, you could package fruit drinks, beverages(milk, chocolate drinks, etc), cereals(rice flakes, corn flakes, coco pop, oats), wine(white wine, red wine, champagne, etc), cookies, biscuits, chocolate, groundnut oil, nuts(groundnut, cashew nut), butter, jam, prawn crackers, pastas, canned food( baked beans, geisha, sardines, sweet corn, corned beef, hot dog), etc.
And non Consumable items include toiletries, air fresheners, household cleaning sprays, toothpicks, serviettes, branded towels, bed sheets, mugs, calendars, diaries, branded pens, etc.
But you should know that most people package consumables for hampers though it still depends on who is receiving the hamper or the purpose of the hampers. Hampers can also have a mix of both varieties.
How Much Needed To Start
It depends on the cost of consumable and non consumable items you buy cheap and other plastic containers or baskets used for packaging of hampers.
In some past years in 2010s, you can start with N50,000 or zero capital, but today in 2023/24, I say sorry because the cost of consumable and non consumable items has gone up double or triple that your average customers can not afford that hamper package for N50,000 or N100,000 per hamper, depending on type of package you sell.
That means that it may require that you should start with N500,000 if you want to sell more than packages.
I just imagine. Or I just guess. In past time, hamper package was sold for N5000, later N10,000 and later N20,000. But today I am not sure.
Only the rich or corporate offices, successful businessesmen can afford it for N30,000, N50,000 or more, depending on how qualified your packages are.
2. Christmas Decorations Business
Everyone can take advantage of the festive season to make money. There are some things that one wouldn't make good sales selling during the first 10 months of the year but from November, people begin to demand for them and there are some things that only sell during festive periods. One of such is Christmas decorations.
Christmas decorations range from the Christmas tree, Christmas lightnings, Christmas caps, and other sorts of Christmas decorations.
Where To Buy Christmas Decorations Cheaply
When you get to the market, you would see all sorts of decorations you can buy and resell. The best place to buy them cheaply is Idumota Market in Lagos. You can buy and sell at offices, churches, supply shops or supermarkets, etc.
How to Get People to Buy Your Christmas decorations
For example, you can buy the Christmas cap and wear it and whenever you are going and once anyone says they like your cap, you simply tell them thank you and let them that you are selling and if they would be interested in buying.
Whether you have a car or not, you can place yourself at strategic place on streets or a good location that people can easily see you.
How Much Needed to Start
I believe that in 2023/24, things may not be too expensive in the market. So, with N20,000, N30,000, or N50,000, you can start if you want big. Once you sell, go and buy more. But ensure that you buy attractive things that people can not resist it or would love and want to buy.
Remember that after Christmas, people are not likely to buy decorations again, so limit your buying. If you want to do this business, you are advised to start around November.
3. Rice Bags And Groundnut Oil Sales
It is a norm that most companies give out rice and groundnut oil as a show of appreciation to their employees during the Christmas period.
If you are familiar with such companies, you can easily write a proposal to them that you would love to supply them the bags of rice and oil they would be giving out to their employees.
But if you know that it is very likely they have someone who has already been doing that for them, you should offer them a deal so attractive that they would be willing to drop their former customer for you.
At the same time, you must have done your homework properly so that you won't be cheating yourself.
Go to the market, compare the prices of good rice and groundnut oil and do a proposal to the company.
Buy Bags Of Rice Directly From Rice Importers
The wisest thing you can do when you want to buy largest quantity of rice at the cheapest price is to buy it directly from rice Importers or from the major distributors to the importers.
Many of them are strategically located within the big markets and you do not need to do elaborate market research before you know that they are the ones that offer the best bargains.
From such people, you can also negotiate for discounts, depending on the quantity that you buy. By the middle of the year up till the end of September, your proposal to the companies ought to have been concluded
And when you get the nod from one or two companies, buy the rice early-- if possible before the end of October-- to avoid the hike in price of this commodity in December.
Where to Buy Groundnut Oil Cheaply
As for the groundnut oil, Mushim and Idumota Markets in Lagos are the best places to shop for them.
The good thing about rice and groundnut oil is that you can always resell them at a profit even if you do not get an order from a company to supply them these commodities at Christmas.
But ensure you do not buy products that are soon to expire or have expired.
If you do your calculations carefully, there is no way you will not make a nice profit this Christmas period and go back to your regular business or job in January.
4. Foodstuffs Business
Customers plan to spend money on foodstuffs for festive activities such as funerals, launchings convocations carnivals, weddings, children party,etc.
That will give you the opportunity to start and make quick money.
How to Start Foodstuffs Business
1. Get your conception first
2. Look for a good and marketable environment
3. Get your stocks ready for cheap prices
4. Take your stocks to end customers and offer them cheap in comparison to the market price.
Things Needed to Start Foodstuffs Business
1. Financing
2. Two government plastic containers, one table, two benches, nylons,
3. Stocks ready
4. Shop at a conspicuous junction
How Much Needed to Start Foodstuffs Business
It depends on what you have because there is no amount you cannot start the business with. You can have small capital or large capital, depending on what you have, what type of shop you want to rent or set up your own and how many quantities you want to buy cheap.
Where to Buy The Foodstuffs Cheaply To Make Good Profit
At Seme market or Oja-Odon market if you don't go there because of too far distance from your home or because of stress on the road or because of transport cost.
5. Men And Women's Wears Business
Many people would love to look for new fashion, new wears, for the festive activities.
They would love to spend money on wears/dresses to wear a new look in their physical appearance for the festive activities. That will give you the opportunity to walk in.
So if you are fashionable or you love to admire beautiful dressing and dresses, then this business may be for you.
How to Start Men And Women's Wears Business
1. You must be a fashion freak or fashion sense.
2. Get your financial capacity
3. Get your shop, your wheelbarrow at a conspicuous junction
4. Go import your stocks from USA, UK, China or buy your stocks cheaper from Mandilas Market Jankara Market, Idumagbo Market, on the Island.
But be careful because not all are importers you can get so cheaper. Some among people who are not importer can take advantage of your ignorance of the market structure.
Be careful not to deal with a wrong person when it come to the imported market you want to buy cheap for a quality.
6. Decorating Event Centres Business
Decorating is gradually becoming a part of our everryday life. There is hardly any event, great or small, that you won't see the input of a decorator.
This is simple because we love good things, we appreciate beautiful things, and we love style and taste.
This is why you have to join the millions of Nigerians who are already in that industry to earn some hundred thousands or millions in this Ember season.
Yes. But decoration is not easy as ABC because you need some levels of skill, you need some sense of colour combination techniques; you need some tools and most importantly, you need to start from some where.
How To Start Decoration Event Centres Business
1. Get apprenticeship from decorated expert, mentor or consultant.
2. Develop your mindset and I-can-do attitude
3. Improve your skill, your color combination techniques further than what you can learn from your master.
4. Get your tools for decorating clients.
5. Get people to know about your decoration business.
6. Or partner with a decorator to do the job for you at a discount you would like to share with them if you don't have decorating materials at home or don't have money to fund the tools or if you don't know anything about decorations as soon as you get a job.
7. Strategically develop yourrelationship with event decorators, cake designers, wedding dress designers, DJ's, all those that are into rental services.
Try to mingle with them and get to know them, because they are a good source for business.
How Much The client Will Be Charged Per Decoration
To get an idea of prices to charge, go to any already established event decorators , tell them you are planning an event coming soon, propose a date to them, ask them what they will charge you to decorate the event, either a hall or canopys in an open field, they will tell you the price.
Try to negotiate and ask them what the decorations will entail. From there, you have an idea of how much is priced. You need to visit as many decorators as possible to ascertain this fact.
Also because you have friends and loved ones who sometimes organise events, you can begin to tell them in advance that you are into decorations of any kind of events and that you will give them a very good discount.
Basically, the amount of materials you will need for that decoration and your service charge is what informs what you charge per job. Also the nature of the event also plays an important role in what you charge.
For instance, to decorate a wedding reception venue may cost from N25,000 if local people or 50,000 or 100,000 if average people to 2.5 million or more if rich people. And to decorate a birthday party venue may cost from N15,000 to 1.5 million or more, so on and so forth.
So, the client determines what you charge, the venue itself determines what you charge, the materials the client chooses to use also determines what you charge. So there are some of the things to consider before charging a client.
Final Thoughts
We have top business in Nigeria you can start with low capital as we mentioned it to you above. But decide or choose which one you want to start or you decide to risk and start the business.
I hope you enjoy this article? Any comments? You are most welcome to drop your comment here and we want to hear from you above there this article.
Business lovers
Related Posts
How to Import Rainy-Season Items In Nigeria And Make Millions As An Entrepreneur
Tags
#top business. #low capital. #nigeria
No comments:
Post a Comment