Ways you can make cool cash in this season of cash drought in Nigeria
What are the best fast money making business ideas that can make you become rich? What is the best simple money making business ideas to start from home? Well, this article is an answer to these questions.
As this year draws to an end, you need to position yourself properly because there are a lot of income opportunities available that can take you to whole new level. Whether you are an entrepreneur or investor, you will surely find this compilation valuable. So without wasting your time, below are 30 best money making business ideas that can make you become rich.
P.S: This article only contains researched information, so it is expected that youconduct your own feasibility study and write a business plan or you can talk to a competent business consultant.
- Event and party planning
If you have been complimented on your parties, you might be good enough to be a party planner. Many people who are throwing parties will desperately need your service. Let them know you can handle everything from invitations to the catering, from the entertainment to cleaning up afterwards, from the wine shopping’s to decorations.
The best places to herald your services would be in the entertainment section of most of the daily newspaper. I will recommend some soft sell magazine, because placing an advert in some of these magazines will surely go a long way in getting some customers. Generally, this work goes for a flat fee, depending upon the size of the party. From N15,000 to N200,000. Think of what you are going to make in a year if you are doing at least 2 parties in a month.
- Biography Writing
A lot of writers are going to be instant Millionaires this year and even next. I checked my record and discovered that a lot of Nigeria Business men, CEOs, Politicians are going to be 40, 45, 50, 55, 60, 65, 70, 75, and 80 years. If you have a passion for writing, you can target their birthdays, fix a date for the lunching and you are good to go. Some of them have a lot of companies and friends that are ready to donate to the lunching of the book. So what are you waiting for to target a Nigerian Millionaire today and be an instant millionaire.
- Computer class instructor
Computers have become part of everyone’s life, not only in the workplace, but in the home as well. They are part of our jobs and also part of our entertainment. You can check the computer book section of a bookstore near you and use the knowledge you have gained to teach others how to begin using a computer; how to use it more efficiently, how to get more out of it, or how to use specific software programs.
This type of class can be offered through your home but you might also consider contacting a local computer retailer and offer to conduct the classes in his/her store. This would bring traffic into the store that is specifically interested in his product as well as give you access to a variety of machines and software to demonstrate with.
- Photography Business
All of us have seen professional photographers at sporting events. We may have used the service of professional for a wedding. But what about the local Pee Wee soccer league or the neighborhood blocks party. Most people enjoy good pictures, but most people don’t have the knowledge or experience to take good pictures consistently.
If you enjoy using a camera, whether it still camera or a video camera, there is money to be made with it. Perhaps the easiest way to begin is to take the camera to a local youth sporting event and begin taking pictures. Be sure to have inexpensive brochures available explaining to the proud parent where they can order actions shots of their own little super stars in action. A few big weekends of that type of freelance work will let you see how big this market can be.
- Selling educational materials
Selling educational materials is a big business today. Pencils, Exercise books, recommended textbooks, graphical tables, and drawing equipment are some of the materials students cannot do without on a daily basis. People who locate their shops near these schools are bound to make a lot of money. If you can get your shop near any of these schools, you are bound to make a lot of money.
If you don’t have enough money to rent a shop, you can get a table and display some of your ware or you can get an umbrella or canopy. Make sure you know the relevant materials that are in demand in this environment; your success in this business is directly related to your ability to sell at a price that is very competitive.
- Pure water business
Do you have a fridge, freezer or you live close to cold rooms; then you can start a pure water business. It is true that millions of people are in the business today, but there is still room for one more person who is still passionate to make it in the business. Markets, schools churches mosques football matches playground and parties are some of the places you can get good business. Other ways of making money is by targeting very big events, securing a stand, rent a freezer and you will make some money.
- Printing and selling GSM recharge card vouchers
Printing GSM recharge vouchers could equally mean printing money. We all know that GSM recharge cards are the fastest selling product today in the country today. Imagine that you are the one producing GSM recharge vouchers that are used in your locality. I don’t know how many GSM subscribers are living in your area but I am sure Nigeria has over 40 million subscribers.
You can start your own recharge card printing business. The printer cost N38, 000; you can start with Pins from N20,000. You can print and sell recharge vouchers in the values of allMTN, GLOBACOM, STARCOMS and AIRTEL cards. You can never run out of recharge cards or experience scarcity.
- Homemade bread and setting up a bakery
The amount require to set up a Bakery is directly related to the cash at hand, if you want to start small you can get a small parcel of about half a plot or a full plot of land and build a clay oven, it will cost you about N400, 000 to start, while it will cost between N4, 000,000 to N5, 000,000 or more to start on a large scale.
- Setting up a security company
Setting up a security venture is a very lucrative business, to a lot of people, setting up a security company is a capital-intensive project. A lot of people have been scared away from attempting to set up one because of this mind-set and mentality. It is very possible to start or set up a security company with little or no capital. Multinationals pay as much as N65,000 per security officer and the security company collects N15,000 while they pay N50,000 to the security officer.
- Television and Radio production
Nigeria currently has over 140 TV Stations and 200 radio station spread across the Country. There are different types of shows on our Television and Radio; such as current affairs, news, sports programme, Automobile, Information Technology, Telecommunications, Shoppers Guide, Maritime Television, Politics, Aviation, Finance, Insurance, Cultural dances, Personality Profile, Educational Programmes, Musicals, Fashions, Construction, Oil Industry, Religion, Hospitality and Tourism, Real Estate, Dating Game Show, Agriculture, Women Empowerment Programmes,, School Quiz Competition, Teenage Programmes and so on.
It is imperative to tailor your show towards your professional background, orientation and finally interest. Nigeria movie industry is not making money like when it started 16 years ago as TV and Radio production is now more lucrative as TV and Radio producers now rake in Million of naira from sponsorship fee.
- Real Estate Business
The boom in property sector is already showing in the high cost of cement, even property stocks on the exchange are smelling-hot. This emerging wealth is sure to simmer in to the hands of both the medium and small income earners. It is now glaring that in the face of increased cost of land and property in the real estate sector, there is actually a big opportunity for many who know the secrets of getting it cheap when others are still ignorant and selling high thereafter.
After all, that is what real estate is all about, except for the intelligence you need to acquire in order to play in the market rightly. As a new entrant into the industry, all you need to do is be the link between the buyer and the seller; and you are entitled to a particular commission.
- Website designing
Website designers are always in demand by corporate organizations, government agencies NGOs as they are willing to pay big to get their website designed. Some of them are also looking for website developers because some of them need to update the information on their sites. Make sure you don’t price yourself too cheap and make sure you get the required training. A website designing course can take a week or two; if you can browse the net very well, there is a lot of FREE software online that can guide you step-by-step on how to design a website.
- Setting up an NGO
Setting up an NGO strongly depends on the nature and character of the NGO. However, you must make sure you follow your passion; be it taking care of children, old people, environment, or solving social economic problem etc. All you need to do is to start with the little you have; starting with your immediate environment. Let all the corporate organizations and individual in your vicinity know what you are doing.
You don’t even need an office; you can start from your house, look for credible people to work with especially influential individual, who can assist you to raise money through their friends. Millions of dollars are budgeted yearly for NGO in Nigeria by foreign donor agencies but such funds are returned to those foreign agencies at the end of their financial year.
- Stock brokerage
Stock brokerage business is a profitable business. Like every other money making venture. It has its own challenges. This is because the market is not stagnant, prices of stocks move upward and downward. In Nigeria, stock brokerage business has not been fully exploited. This is because we are only dealing on equities and not on derivatives. Once you have made up your mind, you don’t need an office; just look for a reputable stock broking firm to work with. The more clients you can convince to invest their money in the stock market, the more money you’ll make.
- Make money as a registered independent petroleum marketer with NNPC
This is the foremost and mother of all the other oil and gas businesses because it provides you with an expansive area to play in this business. For instance, as registered petroleum marketer with NNPC, you can access the following opportunities:
- Own Depots
- Own filling stations
- Import/Export petroleum products
- Retail kerosene
However, to become a registered independent Petroleum marketer with NNPC, the starting point is the Department of Petroleum Resources (DPR), the regulatory arm of the petroleum Industry and find out their requirement and what area you want to engage in, either as a depot owner or filling station owner. And once you are able to meet the requirement, you will be given a license for storage and sales.
- Set up a micro finance bank
The micro finance, regulatory and supervisory framework for Nigeria was introduced to galvanize and empowers the poor and vulnerable people by increasing their access to factors of production. To get started, Micro finance Banks would be required to be well capitalized, technically sound and orientated towards lending based on the cash flow and character of clients.
The micro finance bank provides for two categories of MFBs. Credibility would be another major issue for the emerging micro finance banks. Depositors would need solid assurance of the safety of their funds, just as the MFB operators would by the same token require some form of guarantee of repayment of their credits.
- Party equipment rentals
Renting party equipment has become big business particularly in many big cities. Canopies, chairs, stage platform, ice block, drums, cooking utensils, table cloth and other party equipment are in hot demand by party organizers. There is hardly a weekend when parties are not held.
Your initial step is to find out fees charged for items and for how long. Then you should investigate the cost of making or buying some of these items. How much you make is directly related to the number of customers you have. A dozen of plastic chairs is being rented out at the rate of between N300 to N400 per dozen, while double canopies goes for N800 each
- Haulage Contractor
Haulage includes using trucks and Lorries to convey goods from one point to the other. The movement could be within a city. During conveyance, goods are accompanied by owners. In most cases, truck owners do not go scavenging for loads. They leave their Truck/Lorries to transport companies while haulage contractors obtain trucks from transport companies to convey goods.
As an entrepreneur, your role is that of a haulage contractor. Take note, Truck owners welcome contracts that are long term compared to one-off. Let your mark-up be minimal, but you will double your income from payment for goods collected on return trip. Depending on the number of trips and the number of vehicle used, you can earn above N100,000 per month.
- Generator importation and sales
PHCN’s problems began with the total neglect of the industry by the then military government between 1980 and 1999. The near collapse of the industry was due to the poor funding by the government, mismanagement of the utility, corruption, poor service delivery and load shedding, use of substandard materials, electricity theft, poor revenue drive and non-payment of bills by consumers, technical and non-technical losses.
You can import any brand of generator into the Country. If you don’t have money, banks are ready to assist would be investors. Just make sure you provide a good after sales service to your customers
- Yam flour production
Processed yam flour is a simple devise for the preservation of yam and making them available at our meals table all year round. Besides, it enhances the storage process and the movement of the product. The preservation process may be supplemented with the usage of chemical preservative, which are common in Nigeria markets. Yam flour is processed through grinding, drying, parboiling, drying and pulverization process. I visited a Company that produces Yam flour recently; I waited for 2hours before I could collect my pack just because they can’t meet the demand
30 Best Fast Money Making Business ideas that can Make You Become Rich
Do you want to sell foreign product in Nigeria? If yes, then franchising is for you. A Franchise is an agreement or license between two parties, which gives a person or group of persons (The franchisee) the rights to market a product or service using the trademark of another business (the franchisor). Both franchisor and the franchisee have a strong vested interest in the success of the brand and keeping the customer happy.
Today, Franchising is available to service businesses, manufacturers, retailers, wholesalers, and even professionals services in the medical health care, fast food and beverages hospitality, educational services, training management, business support, estate management, health, beauty and so on.
- Flour milling
The consumption of bread and other bakery products such as biscuits, chin-chin, gala, meat pie, among others have created a huge market for the wheat flour industry, and it is continually expanding by the day. These items have come to be accepted as part of our dietary need either as food or as snacks, which is taken in between meals. Flour milling is not however restricted to wheat processing alone, several Nigerians cereals and tuber crops are being milled and preserved to powdery flavor, so as to enhance their industry uses and preserve their shelf life for domestic purposes.
These include the corn flour, cassava flour, millet flour etc. Processing them into flour and bagging them therefore holds great prospects, considering the fact that these agricultural raw materials are locally sourced. Flour enjoys extensive usage in the bakery, brewing, confectionery, pharmaceutical as well as the food processing sectors of the economy.
- Road haulage transport business
Transport business in Nigeria is as old as the nation itself and there is no doubt that those in the business have been known to have contributed in no small way to the economic development of the country. Transport plays an important role in most business activities. Efficient transport is an essential component in the production and distribution process; commonly referred to as supply chain logistics.
As a new entrant into the business of Haulage business, you can decide to buy a Trailer or more and station it with any of those multinational companies. They will maintain your Trailer for you, employ a driver for you. At the end of every month, all you need to do is to go there and collect your cheque; they pay between N400, 000 to N600,000 on a Trailer every month. Before you can be part of this, you need to register with them as a contractor or fall under another contractor in their fleet. Secondly, you may decide to be an independent operator to some of the big companies in the Country, they will give you a way bill; it might be 10 to 15 trips.
- Create an e-book
If you have some special and extensive knowledge about a particular hobby, activity or skill, then put it to use and write about it. Maybe you know several different ways to tie knots. Maybe you are really good at making homemade Christmas decorations. Maybe you have extensive knowledge about taking care of a sick loved one. Or maybe you know some special tricks in preparing meals for large or small families. You can sell an e-book over and over again. If you only make 50 cents per sell; 10,000 downloads of your book will make you $5,000.
- Get paid to decorate
Imagine having a rewarding, high-paying job that lets you use your creativity to make homes and businesses more beautiful and comfortable. Welcome to the world of interior decorating. There are few jobs that offer so many benefits.
As an interior decorator, you will have the satisfaction of making your vision a reality. You will meet interesting people, and because many people who hire interior decorators are wealthy, you will likely spend time in many beautiful homes. If you start your own interior decorating business, you will enjoy the freedom of being your own boss and could earn N50,000,000 or more per year.
- Start your own bottled water business
Bottled water is extremely popular these days. That is why starting up a home-based bottled water business may prove to be a lucrative venture. Purchase all the necessary equipment and designate a room in your house for this project. Start small and just work your way up as your bottled water business clientele grows.
- Start a food business
Owning a food business is the first step for many entrepreneurs to the world self-employment. A food business can mean any of a number of business ventures, from temporary food stands to catering companies. Depending on which type of food business you plan to own, you will have different investment levels. If you run a temporary food stand, very few funds are needed to get started. If you plan to run a restaurant or even a high class catering business, quite a bit of capital is needed to get started.
- Become a manufacturer representative
If you are a top seller and have years of experience under your belt, going independent as a manufacturer’s representative may be your ticket to sales success. If you like to sell and yearn to be out on your own, the life of a manufacturer’s representative, also known as an independent sales rep may be for you. Experienced salespeople tell us being a manufacturer’s representative is the graduate level of selling, offering potentially higher earnings and freedom from company politics.
- Aluminum door and window manufacturing
Manufacturing aluminum storm windows and doors is a relatively simple process that can even be conducted right from a well-equipped home based workshop. This business start-up will appeal to entrepreneurs with some construction and mechanical aptitude. Once again, aluminum storm windows and doors are easy to manufacture as the material required is referred to as extrusions. It is a simple process of cutting the window framing rails to length, wrapping the glass in a rubber gasket, and attaching the rails that are screw-fastened in the corners.
- Employment and career publications
Starting a desktop publishing business that specializes in producing a monthly employment and career guide newspaper is a fantastic new business venture to set in motion. The paper can be distributed throughout the community free of charge and supported by charging companies advertising fees to list their employment and career opportunities in the paper.
Additionally, the paper should also include useful information and tips for readers on subjects and topics pertaining to securing gainful employment. The tips could include information, such as how to prepare for a job interview, ten secrets to a winning résumé and more.
- Internet trainer
Believe it or not, there are still lots of folk; including many senior citizens and retirees who don’t have a clue how to access the internet or where to go once they are on it. If you’re a tech whiz and you like nothing better than tinkering online; then you can teach these individuals learn how to navigate the information superhighway with ease as an internet trainer.
You will give seminars, workshops, day-long courses or provide one-on-one assistance at senior centers and in individuals’ homes. And you can teach the basics or tailor your programs to the specific types of internet use your clients want to know.
In conclusion, these are the top best 30 money making business ides that can make you become rich. You don’t even need to invest in all, just select one of the businesses listed above and concentrate on it. Success will surely be yours.