If you’re willing to take the risk in light of Nigeria’s current economic situation, starting your own business is the way to go. If you want to start a business in Nigeria, Lagos is the best and largest city to do so.
It’s a massive metropolis, home to over 20 million people of countless ethnicities. In addition to a highly conducive environment, Lagos also has excellent infrastructure to back up its business community.
There is an abundance of promising opportunities for budding business owners to put their money. You wouldn’t be wrong in calling Lagos the “city for hustlers,” as nearly everyone there does something for money or to survive.
It is possible to advance one’s career later in life, either by actively seeking employment or by taking advantage of a populace that is likely to have many unmet needs.
In my opinion, Lagos State is the epicenter of Nigeria’s business community.
In this article, we will go over the top 10 business ideas in Lagos.
These are some of the most promising areas for new ventures in Lagos:
First, a Catering Company That Provides Food
Any Lagos resident with the necessary skills can easily launch this successful enterprise. If you don’t have a lot of cash on hand, you can still make this happen. You could start selling food items on the web. If you want to sell food online, one of the first things you’ll need to do is create a menu you can share on various networking sites. When customers prepay for their meals, you can use that money to buy the ingredients and get to work on the meal. It’s best to put up your menu the day before you plan to cook. In this way, you can avoid grousing about money. To get going, one must initiate action.
Alternatively, you could start buying and selling raw food items, as well as selling cooked food to people in the surrounding areas, to diversify your food service investment portfolio. You might as well take the next logical step and open your own eatery. The answer lies in determining what level of ease you feel in either scenario.
Keep in mind that the vast majority of Lagosians fall into the working class. Because of this, they have almost no time to shop for and cook their own food. The question now is, what? You should make the most of this possibility.
You could start your own food delivery service.
Table of Contents
1.Organizing a Function
Have you been sneering at those who organize events? Or perhaps you don’t think it’s worth the effort. I’m about to burst your bubbles. Planning an event does not require a large investment. To get started, you won’t need a large sum of money. In Lagos, “Owambe” is the most common term for celebrations, and the locals take their Owambe very seriously.
A day without a party is just another day in Lagos. Who, exactly, do you think is behind the scenes orchestrating these shenanigans? Possibly, your best guess is as good as mine. One more promising industry is event planning. Helping others organize their special occasions is a viable business opportunity.
Not many people enjoy the process of planning. It’s something you can start doing and quickly see financial rewards from.
2. Childcare Centers
We all know that the vast majority of Lagosians are working class, and that means that many working mothers will require child care while they are at the office.
An excellent, modern daycare that caters to the needs of working parents is within your reach. No caring parent would ever put their child in a daycare that wasn’t up to par, for obvious reasons (ren).
3. Fashionable Enterprise
Regardless of one’s socioeconomic status, everyone dresses in some fashion. Everyone from the working class to college students to the wealthy to the poor wears clothes. People in a city like Lagos buy clothes frequently, so this company should do well. Location is everything when it comes to running a business. You have the option of opening a brick-and-mortar store or starting a mobile clothing business.
I also think it’s not a bad idea to try my hand at tailoring. You might strike it lucky and land a contract with one of the many brand-new schools that will need to purchase uniforms. Additionally, many people today opt for ready-made garments rather than visiting tailors because of the high likelihood of being let down in some way. You can make the garments yourself, or you can hire tailors to do it.
4. Household services
One can start a variety of businesses providing domestic services in Lagos, including catering, gardening, child care, personal services, transportation, cleaning, and more.
In the bustling city of Lagos, one can find a wide variety of service providers. Wow, if only you had the intelligence to see it that way. For example, more and more Nigerians rely on generators because of the erratic power supply in their country. In other words, as time goes on, they will inevitably require the assistance of a generator repair professional.
Possibilities can be found at any time
5. Washing Cars
Have you noticed how many cars are on the roads in Lagos? Some roads aren’t in the best of shape, either. Unfortunately, most car owners just don’t have the time to wash their vehicles themselves, so they contemplate going to a car wash instead.
One of the best businesses to launch in Lagos is a car washing service. Also, a gas station would be a great partner. It will facilitate the process and reduce fatigue
6. Laundry and dry cleaning
A lot of people in Lagos just don’t have the time to wash and dry their clothes. The middle class and working class are potential customers for your dry cleaning services.
You are free to include any additional terms you find acceptable. Make it a goal to ensure the ease and satisfaction of your clientele.
7. Selling Hair Products and Cosmetics
Lagosians are known for being on trend and fashion conscious, making hairstyling and cosmetics sales a lucrative business idea.
You can open a welcoming unisex saloon that caters to the desires of both sexes. Then you’d have the opportunity to sell cosmetics to a wide variety of customers.
It’s an excellent commercial plan for a city like Lagos.
8. The Bar Industry
After a long, stressful day in the office and the gridlock of Lagos’s roads, it’s no surprise that many people look forward to kicking back and relaxing.
Since you run a bar, you may be able to help with this massive issue. By providing them with a quiet place to unwind, you will be satisfying a basic desire on their part.
It’s up to you to decide what kinds of services you want to provide. If you don’t have a lot of money to spare, you can choose to start out on a small scale.
9. Real Estate
Similar to how there is a large population of people who do not hold any sort of professional designation in Lagos State, there is also a large population of people who do. Another industry that has reached the pinnacle of success in Lagos is the real estate market.
Real estate agents are essential in Lagos because of the city’s persistent housing shortage.
Your financial stability would allow you to offer serviced apartments. Place the apartment complexes where reliable electricity is available. Therefore, it won’t be hard to find people who are enthusiastic about it.
Finishing Up
In Lagos, there is a plethora of opportunity for entrepreneurship. However, these select few have shown to be highly profitable with minimal initial investment.
Any of the aforementioned are viable options for entrepreneurs in Lagos State.