As world economies tumble because of the ripple effects of the global crash in the price of crude oil, many individuals are steady looking for what small business ideas to start up. While there are several thousands of ideas to pick from, it is extremely crucial for new entrepreneurs to maximise their first tryout at entrepreneurship by starting a business that is profitable.
What profitable small business ideas for beginners can you start? What should beginners pay more attention to when trying to start up a new business?
For already successful existing entrepreneurs, knowing what to venture into, or not, is a luxury that experience has afforded them. But for new entrepreneurs, the risk of losing all of one’s investments is very realistic.
Before you start up a small business in Nigeria, India, or anywhere else in the world, you need to be darn sure that the small business idea is scaleable, and has high potentials for both profitability and growth.
1). Personal Shopper:
The fast-growth of Instagram has led to the rapid proliferation of personal shoppers. They setup Instagram accounts, flaunt highly trendy fashion collections by mostly rocking them themselves, and help people asking questions on how to get them, acquire them.
These personal shoppers have used the fashion rave of the Instagram platform to carve a niche for themselves, where they earn good profits from styling prospects without leaving their environs.
2). Event Planner:
Before a large event occurs, an event planner is usually consulted. Event planners handle everything from drawing up a good event plan, to organising the event staffs that will make the event turn out, a success.
In Nigeria and many other countries in the world, thousands of events happen everyday. These widespread spontaneous gatherings pose a great opportunity to individuals talented at successfully organising small get-togethers. With a focus on a much larger picture, these same individuals can grow successful event management businesses.
3). Home-Based Food Canteen:
From home, you could start an on-demand food service for businesses and people living in your local vicinity. Most workers don’t get to have breakfast before rushing off to work. A lot of people also find it stressful preparing meals during the day.
With these daily meal problems, the potential for an on-demand meal service grows even larger. You could open a small canteen outside your home for people in your environs to visit for a meal, and you could also deliver meals to white collar folks at their various places of work.
See Also: How To Pick The Right Bank For Your Small Business
4). Errand Service:
Time is too precious to everyone, and waits for no man or woman. With a lot of people tied up in hectic busy schedules during the week, you could set up an errand service to cater to the other tasks they would love to have completed at home or wherever, whenever they’re too engrossed in work to make out time.
Offering a great service, would make your customers talk about you to their fellow colleagues at work. This word of mouth gesture, would slowly grow your business, till you can’t handle it anymore alone.
Errand servicing is a great small business idea for potential entrepreneurs.
5). Computer & Mobile Phone Maintenance & Repairs:
With an electronic world rapidly taking over, the demand for computer and phone servicing experts is on the rise. When most individual’s mobile devices or computers develop issues, they send it to a repairer to fix. These individuals usually have a lot on their plates to handle, and so, sometimes delegate the work to other people.
With the right mobile and computer engineering skills, you could setup a maintenance centre. You can groom your knowledge and skills by undergoing further advanced trainings from centres like New Horizons and NIIT.
6). Cleaning Service:
Large organisations like banks, hospitals, hotels, and more require the services of really good cleaners. Further more, they prefer to outsource the cleaning services to professional cleaning agencies so they can be constantly assured of a neat environment to carry out their daily operations.
With thousands of plastic bottles, nylons, newspapers, and more been constantly tossed into the street, trash cans, and several other places daily, picking for example, plastic bottles to sell to recycling plants, can prove to be a profitable business.
There’s a detailed article on how to start a lucrative plastic recycling business here.
Hire a few people to pickup these recyclables daily, and you could have a good business running in no time.
8). Social Media Consultant:
While many businesses have social media pages, how many are truly driving great user engagements? As a social media consultant, you could help these businesses handle their social media the right way, increase their customer base, and also grow their revenues.
With every successful business you satisfy, your client base would grow faster through word of mouth, and you’d end up a top earner.
9). Online Store:
You could start up an online store to sell various products. Make sure the items you sell are truly needed by people. Before you start, you’d need to do a detailed feasibility study on the e-commerce sector you’re venturing into.
You can setup your online store quickly with Wordpress. Starting for as low as only $3.95 per month, anyone can follow this link to create a WordPress site in minutes for a really cheap rate (this low price is only through my link). In addition to the low pricing, you will receive a free website domain (a $15 value), a free site builder, and a 30-days money-back guarantee through my Bluehost link if you purchase, at least, 12 months of web hosting.
You can find the real cost it takes to launch an e-commerce business in Nigeria here, and here are also 10 e-commerce marketing strategies that work.
It’s important you understand the online market ecosystem well, before you take a dive.
Media websites, newspapers, and other media outlets are constantly looking for creative individuals that can churn out great content that connects emotionally with their readers. If you have a great portfolio showing the creative contents you’ve written, you can send a pitch to various media outlets to see if you could get a chance to write for them.
Over time, you’d finally get a gig, and as you write for several media platforms, your reputation and fee as a copywriter rises.
11). Home Day Care:
While parents are off to work, they need a trusted individual to take really good care of their kids in their absence. You could take advantage of this problem and start a home day care service right in your sitting room.
Connect with various mothers in your neighbourhood, build a reputation as a loving and charming woman, and mothers would feel a lot more comfortable leaving their kids in your hands during the day.
As your day-care grows, you could someday setup in a larger, more adequate space to expand your business, and subsequently, your revenues.
See Also: 6 Profitable Home Based Business Ideas You Can Start Today In Nigeria
12). Online Retail Consultant:
Online retail consultants show e-commerce businesses how to start, run, and grow their online stores. They work hard to ensure their client’s online store(s) succeeds, and do everything to increase their revenues at the lowest cost possible.
If you’ve sometime worked for an e-commerce company, or previously ran an e-commerce business, working as a consultant, would be a great way to earn some income.
13). Career Coach:
Many individuals need guidance in their life endeavors. It could be about making the right job choices, picking the right college degree to earn, or even picking the right spouse. As a career and life coach, you’d help your clients achieve their full potential, and become the best of themselves they can be.
14). Accounting, Tax Preparation, & Bookkeeping:
Every business must prepare it’s books for an audit, at least once every year. As a professional accountant/auditor, you could offer a cheaper low cost alternative to business owners looking to prepare their tax statements. The larger the number of clients you’re able to secure, the higher your revenue figures.
With the wide clamour for agricultural development in Africa, now seems to be a good time to get involved. Governments are also creating easy access to agricultural loans.
Related: How To Access And Get Agric Loans In Nigeria
First do a deep research on the various aspects of agriculture, pick a profitable niche, then build up from there.
As your farm produce and general agricultural products mature for harvest, you can use the methods written in this article here to sell your agricultural farm products.