It's no news that companies and industries are few in Nigeria. Let's not talk about what that's the case. The Ministries, departments and agencies are all filled up. Getting a job in Nigeria is as difficult as the biblical horse passing through the eye of a needle.

Owning your franchise is a sure way to financial freedom and possibly an employer of labour. As a business owner, you get to see all your brilliant ideas come alive, you're able to work at your own pace and give it your best shot while at it. In Africa's most populated country, you are bound to make a profit no matter what business you venture into as there is a ready market for almost everything.

Below are 4 Trending Businesses in Nigeria, their Requirements, Pros and Cons.

1. Catering/food business;

Who can resist a mouth-watering, appetizing, good looking dish? No one. Are you an average cook? Up your skills with the thousands of videos on YouTube.

Startup/Requirements

To run a food business, you can start with your kitchen in your house before you move on to a physical store. Have a smartphone to take nice pictures and cool short videos, or download photo and video editing apps. These would serve as your means of advertising what you do.

Advertise steadily on your social media handles.

Let people know what options are open to them. Get bowls of different sizes which would be used for packaging, draw up a menu and possibly make an e flier. You can choose to make a few stickers with your business name on them and stick them on your food bowls before delivery. All of this can be accomplished with as little as 30k

Pros 

• You always have a variety of food to eat as you won't always take everything you prepare.
• Your services would always be in demand.
• You work in your comfort zone.

Cons

• Fluctuating food prices could sometimes make you run at a loss.
• Hazards of cooking can't be done away with.
• You'd be in a constant struggle to satisfy the different preferences/palates of clients.

2. Pos business

This is like being in charge of a mini bank. A POS stand/kiosk is a common sight in today's Nigeria. You can withdraw, deposit, send, or receive money using a POS. Utility bills can also be paid with POS alongside airtime recharge, cable TV and data subscription. Before you open a POS outlet, you need to have an existing business that is duly registered with the corporate affairs commission and has been existing for at least 1 year.

   Startup/requirements

 With as low as 50,000 Naira, you can own your own post business. Pick a bank that works best for you, get the details of their requirements, fill them out and wait for approval. Some banks give out their pos machines free of charge while others lease. Once you get approved, you can begin. Wondering how you would make a profit?

Your profit comes from the commission people pay for your services. A token of that commission goes to the bank while the rest is yours.

Be sure to locate your kiosk or stand at a strategic point such as a market, busy bus stop or junction, motor park etc

    Pros

• An infinite number of customers
• Daily profit of 7-10,000 is sure

   Cons

• Makes you susceptible to thieves and armed robbery.
• Also, make you a target for credit/debit alert fraud.  Click here to read about how you can identify fake/genuine credit alerts.

3. Poultry farming

This is one aspect of farming that is yet to be fully explored. Eggs and chicken are always in demand. You can dive into this and make a huge profit from it. Below is a fair estimate of what it would take to start up a poultry farm with 50 birds(broilers).

   Startup/requirements

To startup, you need a large sized coop that would allow for natural behaviour for the birds.

Also required is feed. Starters are given to the birds for the first 5 weeks and finishers are given till the birds are mature enough to be killed or sold.

Drugs are also necessary if you are to be successful in this venture. The birds would need certain multivitamins, antibiotics and vaccinations to keep healthy.

All of this can be accomplished with about One hundred and fifty thousand Naira.

Your profit after the sale can be as much as 60 to a hundred thousand depending on how much you sell each bird.

Pros 

• Birds and eggs are in constant demand.
• The business is profitable.

Cons

• It requires a lot of effort and not so little capital to start up.
• Birds are delicate animals and require constant care.
• Disease spread fast among them and as such, seemingly minor illnesses can result in huge losses.

4. Laundry service

Washing and ironing is a chore that many people hate to do and would be glad to have someone do it for them at a fee. People would always need the services of a laundryman or woman, you can decide to engage in this business after carefully weighing the pros and cons and looking at the start-up requirements.

  Startup/requirements

To startup, you need to have your outlet that should be located in a very populated area. Depending on how much you have to start with you can decide to use your house in the interim.

Next, you'd have to get a washing machine, with about 50 thousand Naira, you should get a good one. I would not recommend using your hands to wash, but if a washing machine is out of your reach and you think your hands can do the job, why not. Next on your purchase list is a pressing iron, very important. A good steam iron can be gotten for as low as 18 thousand Naira. If you already have one, good for you.  A pressing board is not necessary as you would find out that a wide table works better. Then, of course, bleach, soaps, detergents and stain removers should be purchased and you can get a reasonable quantity to start with for as low as 10 thousand Naira.

So depending on how much you have, dry-cleaning is a good business that is sure to yield profit.

Pros

• There is a ready market for your service.

Cons

• It requires hard work.

Whichever of these businesses you choose to run, SmartSMSSolutions can help you take your business to the next level with our top-notch bulk SMS service. We offer mobile marketing campaigns that ease communication between you and your customers or clients.

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