Suitable business ideas

[Su-asa]

This business ideas nah better ones and e go good make some of us way get the money to take start am run the business so that we we/them go fit make this money.
Like for me I buy some cabs them put for road about 3 of them so that at least we something go fit dey enter the pocket ones ones, for all these businesses way you mentioned so some of them get risk but that one mean anything just as long as say we go fit risk our money for Bitcoin watin be physical business way we no go for do, no matter say I never invest for Bitcoin but I just use that one for example for those way done already invest.

[1715462363]

1715462363

[Egii Nna]

I was just thinking about the situation of the country, how to survive and how I can expand my stream of income and a lot of ideas came into my head so I decided to make this thread... the aim of which is to share and also see opinion for the benefit of all.

Well, I do not need to tell you all that maintaining one stream of income is not safe especially in a country like ours where people are under-employed and our currency is depreciating daily. Good enough, many of us in this forum are engaged in one thing or the other that generate income, leveraging the power of the internet. However, I feel many of us have not been able to also create physical businesses that will play complementary roles to this "internet money".

So this thread have been created so we all can suggest and discuss different business ideas that those of us in this culture of internet can venture into, that will not stop our activities on the internet yet can enable us generate considerable income to complement what we are already doing.

First business idea I find great is boutique business. Clothing is one thing that is booming and have high demand. If you open a boutique, you can create your mini office within the boutique and doing your internet stuffs while still monitoring the business.

Another business idea that entered my mind was frozen foods. This is another line of business that is of high demand and the goods are not perishable as they remain frozen and preserved. With this, you can still run your package while observing your business.

Let me stop here while others give their suggestions as well and as we continue the discussion, more ideas will come.

WE MUST MAKE THIS MONEY.

Actually, clothing is in high demand in the market. I believe that, but based on my perspective, when thinking about business, I usually think of solutions and ways in which, if I am creating a business, it brings a chance of employment to many others, most especially the youths and the graduates.

That is why I came up with the food stuff business because food is also in high demand because everyone eats daily; some even eat more than once a day. If you enrol in the food stuff business, you will create job opportunities for others because you are not going to be the only one that will take care of all the affairs of the shop; you must have an accountant, distributor, and others. So with that, you have created job opportunities, and at the same time, you have your business at hand.

[Asiska02]

Good enough, many of us in this forum are engaged in one thing or the other that generate income, leveraging the power of the internet. However, I feel many of us have not been able to also create physical businesses that will play complementary roles to this "internet money".

Those that are yet to find a business to invest and leverage their source of income (internet money) into a physical business can’t be blamed for it entirely. It is not easy to get an idea of a good business, then maintaining and managing the business is also another tussle you need to have mapped out before starting. The thought of it and the risk involve can make one not diversify their source into that for now.

First business idea I find great is boutique business. Clothing is one thing that is booming and have high demand. If you open a boutique, you can create your mini office within the boutique and doing your internet stuffs while still monitoring the business.

This looks like a very good business and can be start up in many places since the demand for clothing is high now. The best thing to do is to situate the business in a place that it is more demanding. I have not thought of this business to be a lucrative one not until now, it just needs to be managed well to be able to keep the business alive for a long time.

Another business idea that entered my mind was frozen foods. This is another line of business that is of high demand and the goods are not perishable as they remain frozen and preserved. With this, you can still run your package while observing your business.

Hmmm, this business idea is not that convincing to go into because of the state of power sector in the country. Without enough supply of electricity, frozen foods can easily get spoilt and will be a huge loss on the business. If you’ve found a solution to have a constant supply of electricity, that will be a great business to go into. Another setback about frozen foods is that Nigerians don’t really fancy frozen foods imported unlike the ones from here, so you should know how to distinguish yours from imported ones.

[Samlucky O]

Op you just got my mind. Although similar thread like this has been discussed before. link==> https://bitcointalk.org/index.php?topic=5466767.msg62844174#msg62844174 but we go still throw more light on am. Of a truth one need to get other side hustle to back this crypto journey up. Because we can't put all our egg in one basket.

For me agriculture is one of the most lucrative business to adventure. If you check the rate at which price of goods dey skyrocket you go know say agriculture na the mother of the Nation. Because people can't do without food. Clothing business you mentioned is just once in while that people buys cloth, but can't do without food. Example of such business is:

(1) cassava farming: if you check out our country, you go notice say Nigeria get big land mass for farming, but due to technology advancement people dey shile away from farming and e dey lucurative. Now 1 paint of garri don reach #1700 some places na #1800. To hire land no cost for the rural area. You fit hire land of 80 to 100k and also employ people we go work am. plant cassava all through before 5 to 6 month. you fit get like 10x of wetting you Cary invest am.

(2) yam farming: another one na yarm farming. Those benue people can relate what am saying. Every benue man thinking na yam farming. Although no be every person from benue but you ft find someone wey fit help you run am. or better still you fit buy yam in bulk from benue dey supply to your location.

(3) fish farming: fish farming na another business idea. People dey always fear say fish go fit survive? Yes depending on how serious you dey about the business you fit hire a special person for the job if you know no am, from there you go learn am come dey handle yourself.

(4) poultry farming: poultry farming na another thing too, e dey bring money like mad. If you buy broilers with adiquate feeding before 3 months you don make your money.

(5) pig farming: pig na one of the most expensive livestock for Nigeria. At least each one is not less than 50k to 150k depending on the size. Dem dey dey fast to grow before 4 months e don grow. Procedure to go about am, with the lease capital you fit buy male and female matured ones allow them to mate and reproduce at least e dey born 4-5-6 to 7 piglet so if you allow them to grow dey fit still reproduce and full everywhere you don becomes millionaire.

(6) pepper farming: just like other once, apply the same procedure find land plant pepper make e grow. You go dey supply pepper to market people or them find you come house.

(7) Dog breeding: this one na another investment for people wey get the eye. at least different species of dog and their prices. So you fit just buy one female expensive brid then hire a hire a male to cross brid am. If I'm born you know how much one go give you na. Mean while you fit keep one small male to grow sothat you no go pay money to cross brid again.

(8 ) plantain plantation: this one need a large portion of land o. Where you go plant enough plantain, w no dey tay wey plantain dey grow before you know na steady you go they harvest. At least each one go fit give you not less than 3k depending on how big e dey. And one good thing about am be say you no need to dey buy feed na just natural no fertilizer except you wan use fertilizer.

Note: this businesses is not for everybody.

All this thing I list here no forbid you to do other business like pos, car wash, boutique and many others just in addition to wetting you ask.

[Judith87403]

I like this thread because it gives the opportunity for people that has interest on starting up a business but doesn't have any ideal business to venture into but through this topic someone could be suggested on the kind of business that would be of a beneficial to them.

But however when we discuss about suitable business ideas and after getting the particular business what needs to be considered is environment because in times of business environment is one of the factor that determines the inflow of profits, so it is advice able after getting a business plan to go for a visibility study to no what the people on that environment normally preferred before establishing it to avoid crash.

Because in most cases people failed to do a thorough examination about environment before starting a business which will seriously affect them in the time to come, in my business school days we call it environment factors of failure in business.

[CryptSafe]

OP this initiative is a good one to attempt. While one is busy here with activities, one can have other side business going on to fetch them streams of income as you have said. Aside these businesses you have mentioned, there are other businesses one can venture into like the Agriculture sector such as poultry and fish farming is quite conducive. Although the both have a specific period which much task comes up but not as often and frequently. You can just open your mini farm with at least 1million or less to start with then as time goes on, what you have to do on daily basis is feed them and a little daily routine. You can have time to do your daily task here without much distraction. You can as well put up a calendar or a reminder to note your daily activities so as to accommodate but exercise.

[Y3shot]

Having in mind of business plan is a good one , in life it is always good for people to have more source of income especially when this business are physical.  If you take a look at the lifestyle of the billionaires around us , this are people who have physical business that is generating good amount of money for them, it is rare to become very financially stable by only depending on a particular type of job.

Having a business mindset is very good for the future, it is a way of creating more stream of income, their are lot of businesses people can go into just according to their interests.

[DubemIfedigbo001]

One very lucrative business that I know and have practiced is fish business. There are  many ways of practicing it, you can train by yourself, and sell off when they're mature and marketable. This requires a lot of attention, skills and labour and you should have your own pumping machine, pelleting machine and training environment as renting these as a startup will  drain your capital. You also need to avoid over stocking. Stock less, feed them well and you'll make good gains during sales. Processing the fishes by yourself yields better gains cos the price is higher when processed.

Another pattern is to be a middle man in the sales, like you get information when trainers are balling their ponds, go and buy already trained fishes for lesser amounts and sell off to restaurants, beer parlors, market women and hotels at higher prices and make your gains almost immediately. This is surely less stressful as compared to training fishes by yourself. You can even process it and  sell for maximum dividends. You need good capital for this method.

The third approach I'll mention is buying from fishermen, especially the ones in remote villages. This is very much profit oriented as they catch it in good numbers and are happy to sell it off immediately and see the cash without waiting to sell off to market women little by little. You can even buy from the fishermen and resell it there to other people who buy in smaller units. You can as well buy fishing nets and give to the boys and when fishes are caught, instead of buying it, you get your share and maximize your profits.

There are lots of market strategies in this business, but let me stop here cos too much of points sometimes confuses the student. You can learn more on the field of practice.   Shalom!!

[Frankolala]

The business that has being in my mind that I am planning to setup but I am waiting for the right time when my capital is ready is a bet shop. I have studied the youths in Nigeria and even in my area, they believe more in gambling to have extra cash, especially the lazy ones that can't hustle on their own.

Having a bet shop will give you massive income because after the setup what you will only spend money on daily is fuel to run the shop daily. Omo if una see how people dey full bet shop even when hardship like this dey, you go dey wonder whether e easy to win. And the fact is that boys are cashing out daily from sportsbet. Even as fuel cost bet shop dey on generator steady.

No how the economy hard people must still gamble because gambling no be compulsory say you use big money stake your bet. This business is easy and stress free, I have never seen any bet shop that the owner sits there and run the business by themselves, instead they do employ someone to be in charge and they come once or twice a week to check on how the business is moving and take account.

As person wey dey into internet hustle, base on steady light wey must dey your bet shop, you fit use one side do your office wey you go dey use run your bitcointalk matters. Na for even bet shop many people wey no get money to pay charge their phone dey go charge phone. With this business, you know that electric power supply wouldn't be a challenge for you to login to the forum and carry out your daily activities and learning.

Bet shop and soft work and your money dey pile up. The funny thing is that the rate of new gamblers is increasing everyday.

[CryptSafe]

As person wey dey into internet hustle, base on steady light wey must dey your bet shop, you fit use one side do your office wey you go dey use run your bitcointalk matters. Na for even bet shop many people wey no get money to pay charge their phone dey go charge phone. With this business, you know that electric power supply wouldn't be a challenge for you to login to the forum and carry out your daily activities and learning.

Bet shop and soft work and your money dey pile up. The funny thing is that the rate of new gamblers is increasing everyday.

You see one thing with this hustle: steady light and internet supply. Since e be say the bet shop dey get steady power supply and internet, that one go make sense for you because you go just dey for your office dey do your work jejely and to dey supervise your workers dem too. Your presence, too go make sense for your office because e go dey make dem do things right why i dey talk so na say e get the complain wey person been make here say agent wey dem employ for bet shop carry customer  win money run and as e be now dem still dey find the agent to get their win but dem never see am. Your presence go put fear for their body to do so, too you go dey work with ease for here as well.

[Mayor of ogba]

Op, I like this thread way you open like this because people dey share ideas for businesses way person fit do for Naija.  Before person go starts business make that person check how the country dey and way tin people way dey the country go fit use their money buy so that in go know the kind of business to start. With the condition way Naija dey now "eatery" business go move market more more now.
Why I say eatery business go move market for Naija na because hunger way dey this our Naija no be small tin and to get a good pay job for this country na war. Most money way some girls and boys dey make na, na to use am chop food and make hunger no kill person. The hope way the common man gets for Naija na to see money to use chop food every day as we dey hope a better Naija go come one day.

Op, the frozen food business idea way you shared na good one because e dey for the type of business way Naija people go need to buy every day to feed their families.

[Pi-network314159]

Another business apart from this one's you mentioned na to also buy canopy and plastic chairs for hire. If na person wey dey into music, person fit buy speaker and other sound systems, come organise some group of boys wey sabi play instrument like highlife and DJ/mc, sothat them fit dey hire your crew for party like wedding ceremony, birthday party, child dedication, traditional marriage, burial ceremony etc. Because Nigeria na one kind contry wey like enjoyment and party. And if them sabi you well well you go dey get show. If you no get the skill find people wey go do am better for you. Also buy materials for event center decorations.

If your money reach to buy bus. Them fit they hire am for movement or if you get any opportunity to put am for company too, Dem go dey pay you every month bus price dey ranging from 15k to 20k per day times am buy 30days. You go see how much you go dey get. For me na business to render service I see say e dey more profitable than buy and sell.

Another one na barbing saloon. Buy the tools find person wey go dey Barb dey pay you per week, like that you go dey see money steady.

Loaning na another business wey people dey carry get money well well but e dey come with risk to pay back. But you ft make am lucrative by involving the police sothat any body wey wan borrow money go sign undertaking or go borrow with collateral. Just like any other cooperative organization wey dey borrow money, how them dey do am be say if you borrow like 100k in one month the person fit return you with 140k. Some na 130k. Emagine say na 1m Dem wan borrow from you dem go payback 1.3 or 1.4m in a month or two. And if you check the demand of loan dey high for Nigeria due to inflation. Many people get business idea wey dem fit use one month blow but based on say money no dey dem no ft execute am. So na the little I ft add.

[adultcrypto]

Another business apart from this one's you mentioned na to also buy canopy and plastic chairs for hire. If na person wey dey into music, person fit buy speaker and other sound systems, come organise some group of boys wey sabi play instrument like highlife and DJ/mc, sothat them fit dey hire your crew for party like wedding ceremony, birthday party, child dedication, traditional marriage, burial ceremony etc. Because Nigeria na one kind contry wey like enjoyment and party. And if them sabi you well well you go dey get show. If you no get the skill find people wey go do am better for you. Also buy materials for event center decorations.

This is another cool business rate never caught my attention. It is easy to start and just requires little publicity since the materials are already branded. Just one or two occasions and the brand will already become popular. The materials are not perishable and when damaged, there is usually a rule that requires it be replaced. You don't need a shop for this as the materials can be kept in your house from where it could be rented. This reduces the cost of running the business.

I don't know how long it will take to recover ones investment as that depends entirely on many factors such as location of business, competitors,  and publicity factors. But whatever the case may be, it is a good business.