Top 5 Lucrative Business Ideas in Lagos To Start in 2023
Profitable business in Lagos
A lucrative business is best defined as one that employs small capital and fetches the sole proprietor heaps of profit, Lagos is one of the busiest and most-populated states in Nigeria, bagging a population count of about 10 million. It is believed that the honeycomb, or rather, money comb sits right at the center of the state. It is also one of the states with a constantly culminating cost of living.
Lucrative business in Lagos with small capital
Most entrepreneurs that fall into the category of sole-proprietors usually would want a lucrative business in Lagos with small capital. And in a city like Lagos, there are indeed a lot of them available. Not everyone may be able to afford the risks and financial investments a big business requires, so here, we will be looking at a few of the small and lucrative ones
Such person could venture into blogging, which is more of an online job. Most jobs that are done online usually come as the most lucrative businesses in Lagos, so, that’s why a huge number of Nigeria’s population are into it. There’s freelancing, you-tube videoing, bitcoin trading, etc. These jobs fetch profit quickly and are also very lucrative.
Food and Confectionary Delivery
Another very lucrative business in Lagos with small capital is the fast food business. The state is a very busy place, and so, to beat issues like traffic and road jam, most workers leave their houses at very early hours of the door, consequently skipping breakfast.
So, to cover for their skipped meals, they’d go fast foods and other confectionaries rich in sugar and necessary nutrients. So, for someone with the culinary skills of a chef, this could come as one very profitable business in Lagos. You might not need to get a shop that bears your business name. The current fad now is that of orders and deliveries. Just ensure that you develop your social media page to the maximum, and get people to know what you do!
Car Wash Business
The car wash business is another lucrative businesses in Lagos. Workers like bankers who leave their work place by eight or nine o’clock at night, and then, leave around four o’clock the next morning seldom have time to give their cars scrubs. This is one role that an enthusiastic job seeker could fill in.
All you need do is charge fees that they’d no doubt pay, and then, get the work done! This business is also another lucrative business in Lagos with small capital. All you just need money for is a scrub, spray tube, and a car wash detergent. Then, you adding a little bit of deodorant to your client’s car might go a long way to help you!
Buy Online and Resell at Higher Prices
This is a business idea that can be carried out by anyone just because it is a very lucrative business in Lagos with small capital. Recently I was struck by a lot of people who made a lot of money by buying the products on Alibaba, 1688 etc. and reselling it to fellow Lagosians and Nigerians on Jiji.com, Jumia.com, konga.com at a higher price.
The mechanism explored is, in some ways, very simple but at the same time effective given that it has been successful: They identify a series of products that large retailers sell at very low prices (like phone accessories, shoes, clothes, bags etc.) and carefully do the market analysis to ensure that the product is a very scarce product in the Lagos market in such a way that once the products are imported, it will be purchased by people using the scarcity mentality on the people.
You could use this mechanism in reverse: by participating in web auctions, in fact, you can grab products at bargain prices and resell them to your acquaintances (or even on other private sales sites like Jumia) by increasing the price. In this way, your research work is enhanced and you can start what is a real business with very little money.
See Also: Business you can start with 50k in Nigeria
Most Lucrative business ideas in Lagos
So, consequently, an entrepreneur with enough capital is open to this lucrative business idea in Lagos.
Real Estate Business
This business remains one very profitable business in Lagos. The state seemingly has more people than the houses available, and that explains why the plots of land and houses in it come at very high prices. So, what real estate managers do is that they build houses, and sell them. Or preferably, depending on which benefits them the most, they could rent them out to interested people.
You might need a lot of capital and corporate funds to start this, but once you amass all you need to begin, you can be sure of making cool cash. However, before delving into this business, ensure you have all it takes to be a real and also, one of the best estate managers available. SEE HOW TO MAKE MONEY AS A REAL ESTATE AGENT IN NIGERIA
See Also: Mini importation business in Nigeria – Step by Step Guide
So, if you are on the search for a lucrative or profitable business ideas in Lagos, you might want to try any of the ones listed above. They’d be sure to fetch you a lot of profit!. If this post was helpful to you don’t forget to share it to your family and friends using the share buttons on this post.