Top Business Opportunities In Lagos And How To Clinch Them

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Lagos is stuffed with business alternatives. If you can also make it in Lagos, you can also make it wherever in Nigeria.

… I wish to get up within the metropolis that doesn’t sleep…. If I could make it there, I do know I could make it wherever…

This outdated Ballad by Frank Sinatra about New York usually makes me consider Lagos, the business alternatives and different issues people see after they head in direction of the large metropolis of bustling lights and stressed spirits.

Most individuals take a look at Lagos and see a metropolis with endless visitors, impatient and busy residents, crushing inhabitants and an over-saturation of business ideas and so they’ll be proper. But with massive populations and large metropolis existence come massive business alternatives that if carried out correctly are positive to be moneymakers.

See Also: Online business ideas to start from home and become rich.

Top Business Opportunities In Lagos

Idea 1: Flexible Transportation Service

This is likely one of the business alternatives that irrespective of what number of gamers now we have, there can by no means be sufficient. In a metropolis like Lagos, cabs, automobile rent providers, buses are a dime a dozen but by no means sufficient.

People are on the transfer and with growing concern for his or her safety, they might somewhat financial institution on transportation service they’ll belief and might develop acquainted with.

Most individuals I do know would somewhat persist with a service that may get them from their properties to the workplace, the membership, the market with out making them jittery about value or their security.

See Also: Business ideas to start with 100K in Nigeria that will make you millions.

Consider: A Neighborhood/Estate Cab Service

Most Lagos commuters, (who’re inquisitive about providers like these) dwell in organized estates. Not very many of those estates include a cab service. At finest there is perhaps a automobile rent park simply exterior the property gates.

If you have an interest in transportation business, then you definitely may contemplate offering a service that provides a variety of providers reminiscent of pickups from dwelling, all-day service, workplace/ faculty pick-ups with 24-hour availability in addition to versatile fee choices e.g. Transfer, POS, and so on. You may contemplate the a number of passenger choice the place youthful commuters heading in the identical path could break up the fare.

To get began chances are you’ll wish to distribute flyers inside the property about your providers. Start by putting up a friendship with the safety guards on the gatehouse – nothing conjures up belief like an advert or endorsement by males in uniform.

Also distribute your fliers at colleges, church buildings, and mini-marts. These areas are family-friendly, heat and will certainly mark you out as protected.

For an additional contact, observe who runs the busiest grocery/ important product business and can also be fast to supply up data (okay I’ll say it as it’s the neighborhood gossip!)- have her distribute your flyer by providing the inducement of a free experience to the market or wherever she/he picks up provides.

See Also: 100 Profitable business ideas for aspiring entrepreneurs and investors to start now.

Startup Capital Required: Under N1m

Buy a clear used automobile wherever from N500,000 (5 hundred thousand Naira). Sites like Cheki provide a variety of vehicles at numerous prices. There are automobile sellers who additionally carry pre-used vehicles. Another good place to look is in mechanic workshops. Some automobile house owners seeking to promote usually contain their mechanic in a remaining tune-up and in spreading the phrase.

You would additionally must put money into flyers- this could value wherever from N3,000 to N5,000.

Ensure that your papers are so as earlier than you hit the highway and in the event you can afford it take a metropolis tour per week earlier than you begin (you are able to do this through Broad Rapid Transit [BRT]). This will enable you estimate the gap and gasoline you may cowl and wish in your busiest days. Also, take trip to seek out out the taxi fares round to numerous locations and make yours comparatively aggressive.

See Also: Service-based business ideas to start for entrepreneurs.

Business Opportunities

Tip: It is essential to have a superb data of vehicles and metropolis routes. Start off with a automobile or two and take into consideration the price of fueling and paying drivers. Even in the event you drive your self, make sure you pay your self and reinvest the remainder of your income in increasing the business.

If you’ll provide a 24-hour service, make sure that you do the groundwork of recruiting trusted drivers.

Idea 2: Ticketing And Booking Services

Just assume… It’s a Friday, the premiere of Star Wars holds tonight and tickets are offered out fully by Monday. But there’s a catch you’ve got fifteen tickets. What are the probabilities you can promote all fifteen in an hour? Fat! In reality, I’d say the probabilities are 15 in 15!

With such busy schedules, individuals usually don’t come round to guide tickets early. Whether it’s leisure like film tickets, live performance tickets, comedy reveals, and so on. or life-style and journey like flight tickets, spa offers, restaurant bookings, something could be reserved for these within the fast-paced life-style of Lagos. You can purchase tickets at giveaway costs and resell at a revenue.

See Also: Profitable home-based business ideas to invest in. 

Consider: An All Ticket Service Provider

Start an internet site only for tickets and change into a acknowledged vendor for service suppliers (who’re on the lookout for free publicity on any platform anyway).

Publicize your web site through social media because the last-minute ticket place. People can pay just a little further for saving them the last-minute stress or worse disappointment of not seeing that film or attending that live performance.

Tip: For locations the place it applies, provide the additional service of sending their identify forward so they’re greeted on the door by identify and led to their seats or cubicles. This means together with reservation in your service.

Running this as a one-man operation could also be enjoyable at first however as you develop you’ll want extra legs, eyes and voices.

Startup Capital Required: Under N50okay

Start with low-cost film tickets. Premier tickets often value N2,000 at most. Ten will value you about N20,000. Once the tickets promote out, contemplate promoting yours on numerous buying and selling websites for about N2,500 to N2,800. You’ll require regular entry to the web and telephone.  Then re-invest in different tickets.

Business Opportunities

Tips: Consider making the venue of the occasion your decide up level for the tickets in any other case, the added contact of a supply service would assist your service unfold by phrase of mouth

Idea three: Errand Service

This is likely one of the many business alternatives that has not been tapped. After a tedious week, most city-based working dad and mom barely have sufficient time to bond with their kids, get entangled in non secular exercise and put together for the following week.

Running private errands are merely out of the query and whereas one may purpose that housekeepers and maids exist for this, there are households whose errands are too subtle or who would somewhat not have live-in employees however could be grateful if their itinerary could be freed up to allow them to give attention to extra vital features of their lives.

I pay for consolation. We all want our vitality and I’ll take any alternative that saves me stress even when I solely must pay just a little further.

See Also: 14 Small business ideas for entrepreneurs in Nigeria.

Consider: A Pay As You Go Home Manager/Assistant Service

Errands on this service would naturally take wherever from just a few hours to half a day or a full day. You may do something from drafting out the itinerary to selecting up grocery and the mail or dropping off packages or individuals at numerous locations or petty monetary transactions and so on. 

Startup Capital: Zero to N200okay

Personal expertise at customer support and private helping will come in useful. While advice and referral is your finest guess in this kind of service. You may want to begin out by utilizing the property service technique in concept 1. 

Business Opportunities

Tip: Consider investing in a bike fitted with a carrying case. This will reduce down your transportation time and overhead and canopy most errand sorts. As you develop, chances are you’ll discover that you might want to make use of private assistants in your business and put money into different automobile sorts.

It can also be essential to keep in mind that other than the price of transportation you’re being paid in your time, effectivity and worth of service. Ensure that you just depart a superb impression. Nothing ensures a name again like constructive suggestions to your shopper from a 3rd occasion.

See Also: Top business ideas for stay-at-home-mom in Nigeria.

Idea four: Event Planning

Well that’s what everybody calls it, even those that simply embellish.

The massive metropolis is filled with events- kids are born, kids flip landmark ages, they get into faculty, they graduate, they get married, write books, attain enormous achievements, have fun holidays, have fun their dad and mom, ship off their dad and mom in model.

Here in Lagos, every little thing is a purpose to have fun however with these busy schedules and restricted data nearly everyone seems to be on the lookout for somebody to inform them the right way to have fun and that is the place precise occasion planning is available in to play. This also can give start to different business alternatives.

Consider: An All Event Solution Provider Service

Catering to occasions is like placing collectively a jigsaw puzzle. First, you could have a transparent image of the occasion from begin to end after which work with purchasers’ funds to create one of the best match.

To do that, you might want to have the contact data and a brokerage settlement with a lot of occasion distributors in numerous classes. From meals, drinks, and aesthetics to internet hosting, location and leisure.

Gathering assets like these takes years of planning and expertise and trust-building, however it’s important to start out someplace. 

Startup Capital: Zero to N50okay

While I subscribe to brief internships, most occasion planners are often cautious of the potential for stolen clientele and aiding future competitors. I’ve a good friend who began her occasion profession by attending as many as she may. At every occasion, she’ll strike up a dialog with a vendor or two then playing cards would trade fingers. Her card launched her as an occasion dealer.

The fixed maintaining in contact and firsthand data of their work meant she may decide what vendor was proper for what occasion. She will then provide them the job for a proportion of their payment whereas accumulating her mounted payment from the purchasers.

Tip: Appearance is essential. Allow your purchasers to see you in all components from posh to hands-on with out showing hassled. You may wish to put money into a superb automobile. Clients are sometimes all the time undecided and impatient. Your job is to be the calming and reassuring pressure within the storm.

See Also: Creative business ideas for fresh graduates in Nigeria.

Idea 5: Graphics Designing/ Content Strategist

People at the moment are understanding the significance of publicity and appreciating social media. Brands have now realized the significance of digital marketing. Digital advertising and marketing is completed via the creation of digital content material which could be pictures, movies, articles, infographics, and so on. Even for organizations which can be nonetheless sleeping and do not need a web-based presence, the fliers they print after they wish to manage occasions nonetheless must be designed by a graphic designer.

When younger individuals write to me asking for recommendation on business alternatives or concepts they’ll put money into, that is the place I all the time level them to.

Consider: Running An Advertising Agency

You must be artistic, have a free spirit, know the right way to use graphic design instruments and perceive social media. There are numerous on-line assets the place you possibly can research and be taught totally free. It will take time initially to be taught.

Start constructing your social presence, showcase your designs in your web page and begin reaching out to influencers, organisations, and so on. You can provide your providers totally free to individuals who have massive followership in trade for credit score in your designs. That approach, extra individuals can see your design.

Startup Capital: Zero to N100okay

This requires little to no capital so long as you’re artistic. You will want a laptop computer and web entry. Get acquainted with platforms like Canva and different free platforms.

Tip: You should leverage social media. Use your social media web page to show your work and don’t be afraid to succeed in out to individuals. Always be able to be taught and search avenues to develop your self.

Market your business on social media. Make positive to succeed in out to manufacturers. Most corporations are prepared to pay in the event you can ship in your promise of giving their model the proper look.

Idea 6: Online Tutoring/Offline Tutoring

If you’re educated in a sure subject, educate it. Knowledge is the brand new gold. These days, persons are always looking for data, are desirous to be taught and self develop themselves.

This is likely one of the business alternatives that may be tapped into. Here, you aren’t spending a lot. The data you’ve got is what’s vital; that’s what you’re imparting to your audience.

First, consider what you possibly can educate individuals and get on platforms that let you educate your data.

Social media turns out to be useful in advertising and marketing this business alternative, however individuals must get to know you and your skills first. Therefore, get on the market and converse extra about your area of interest, so individuals could be assured that your onion.

See Also: Business funding opportunities for aspiring entrepreneurs to grow their businesses.

Consider: Online tutoring

This requires little to no capital.  You will want a laptop computer, web entry, and up-to-date data within the space you’re tutoring. This is essential!

You must acquaint your self with on-line tutoring platforms; join as a tutor, develop a course module, add and start to promote.  Ensure to create a distinct segment and promote your self nicely on social media.

Consider: Start Your Offline Coaching Centre

This would require a head to head and private interplay together with your college students. Of course, you should be tutoring within the space you’re expert in.

initially, organising a centre might be costly. You could wish to organize to satisfy together with your college students in a co-working area like ReDahlia Workspaces. This approach, your reserving is predicated on the variety of hours you employ. Asides saving you money, utilizing ReDahlia Workspaces additionally make you seem skilled as towards assembly your purchasers in your house.

Tip: Always be forward in your subject. Update your data frequently. Look out for brand spanking new developments in your area of interest.

General Tip: Once you’ve got decided the kind of business you wish to put money into, guarantee to prepare a business plan, develop a business model and structure your business.

Do you want to join the league of famous entrepreneurs across the globe? Contact us today to tell your brand story.

The submit Top Business Opportunities In Lagos And How To Clinch Them appeared first on Entrepreneurs In Nigeria.

Durodola Bolaji

A network marketer, entrepreneur and investor, I am happily married with kids. I reside in Ibadan and run a company in Northern side of Nigeria. I am currently earning passive income working from the comfort of my home using the Internet, email, and the telephone with an incredible sense of security and peace of mind. I've been earning a full-time income from home online since 2014, mostly within the network marketing and direct sales industry, and in recent years.

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