Nigeria is a rich country that has thousands of business opportunities for citizens to explore. Although we all know the popular businesses that can be seen around us, there are still a lot of untapped businesses that people have yet to infiltrate. If you are a potential entrepreneur looking forward to owning your own business, there’s something you should know. It is important for you to start with any of these highly profitable hidden business opportunities in Nigeria that we will be listing in subsequent paragraphs.
15 Profitable Hidden Business Opportunities in Nigeria
Looking for a not-so-popular business opportunity? You’re in the right place. Here is a list of the top 15 highly profitable hidden business opportunities in Nigeria:
1. Women’s Martial Arts Academy
The demand for self-defence skills among young Nigerian girls has skyrocketed in the past few years. Ladies are now interested in martial arts like kickboxing, karate, and boxing so that they can protect themselves when the need arises. This opportunity presents a remarkable business idea: opening a Women’s Martial Arts Academy.
With a capital as low as 500,000 Naira, this highly profitable hidden business opportunity in Nigeria can be brought to life, as it aligns with both societal demands and modern trends. When you offer self-defence training and empower young women to defend themselves, you’re not just addressing a societal demand but also building a profitable business opportunity that needs just minimal capital.
Through custom classes and workshops, you can raise a community of physically empowered ladies while gaining from the profitability of this business idea in Nigeria.
2. PC and laptop maintenance services
It is no news that today’s world has been digitalized. Most people now own computers and laptops either for office or personal use. With computers being a staple in many homes in Nigeria, there will always be the need for maintenance and troubleshooting of these gadgets.
If you’re competent at handling and maintaining PCs and laptops, from software problems to technical issues like parts cleaning and reinstallation, then you possess a valuable skill that can be turned into a lucrative small-scale business in Nigeria. When you offer trustworthy and professional IT support, you simply help individuals and businesses to keep their vital devices running smoothly.
Establishing a PC and laptop maintenance service is an attainable business idea in Nigeria. You can just start by posting ads about your services on different online platforms or distributing eye-catching flyers to inform people about your services.
As the demand for your service grows, you may try expanding your team by employing more computer specialists to help you. However, this should be a long-term goal.
3. App development
Although this business is often overlooked due to its complexity, app development will forever present a fertile ground for embarking on small-scale projects in Nigeria. In a tech-driven world where mobile apps have become critical to our day-to-day lives, you will be doing yourself good by tapping into this industry.
Instead of saturating the already existing programming market, just focus on developing different applications that address the genuine needs of the everyday Nigerian. This approach guarantees your creations stay unique and offer great value that catches user attention and commitment. When you create an app, market it until it becomes very popular before you sell it off to the highest bidder.
Don’t forget, that it’s the quality and usability of a mobile app that foster its success, not the mere number of product offerings. When you strike a balance between innovation and functionality, you’re bound to deliver solutions that genuinely improve user experiences.
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4. Clothing printing venture
In the current Nigerian trend-conscious terrain, custom-designed clothing items featuring images, phrases, and abstract visuals enjoy massive popularity, especially among the youth demographic. From matching couple tees to printing striking statements, the allure of unique prints on clothes is undeniable.
Undertaking this venture involves acquiring specialised printing equipment for clothes, which will serve as the initial investment. You can then purchase bulk T-shirts without any prints to streamline your production costs. Once you have these two ready, you can swing into action.
Note that you must be skilled in any image editing software before you proceed to start with this business. However, if you are not competent in that aspect, you can outsource it to a specialist. Lastly, it is important for you to leverage social media platforms like Viber, Instagram, and Telegram to advertise your business and boost sales.
This business is one of the highly profitable hidden business opportunities in Nigeria that you can jump on if you want to make a lot of money.
5. Intimacy store
With the rate at which society is getting more exposed, intimacy stores are now one of the highly profitable hidden business opportunities in Nigeria. If you want to embark on a journey of entrepreneurship with consistent and reliable income, then you should definitely try this business out.
As the era of intimate products in Nigeria is fast approaching and the high demand for its products, you can jump on this trend and gain from it. In fact, once you start your intimate toy shop, you will find a lot of people who will become loyal patrons in no time.
Establishing this hidden business opportunity in your city, if the state government permits, can be a great way to earn cool cash, especially in regions with little competition. Your first step to bringing this to life is securing a convenient location, ideally far away from childcare centres and schools.
Thereafter, you can equip your shop with standard store fixtures, including the appropriate shelving and a standard cash register. Once this is set up, proceed to display all your intimacy products on the shelves and advertise your goods online and offline. An attentive and knowledgeable intimacy vendor is crucial, given that so many clients may have different questions, need guidance, or seek anonymity.
6. Dog training
In Nigeria today, pets have become the beloved guardians of families and their property. Hence, the demand for dog training is slowly growing. Pet owners don’t just long for protective companions but also for obedient and well-behaved pets. As a dog trainer, your goal is to facilitate a harmonious connection between owners and pets by equipping dogs with well-behaved and joyful behaviour so that they can be great companions.
If you are passionate about nurturing well-mannered dogs, then you can establish a dog training business in Nigeria to bring you fulfilment. However, to bring this to reality, you must be an expert in dog training. Special talents and knowledge are required to train dogs from their natural wild instincts to disciplined and well-behaved behaviour.
Customers of this business look out for reassurance, and a tutor that has the right certifications to validate their training skills. So having these qualities is crucial. You must take and complete certified dog training courses to establish your credibility and gain the trust of your clients.
When it comes to dog training, acquiring clients is not as difficult as it may seem, as many dog owners are searching for trainers to help them teach their dogs good behaviours. Satisfied clients typically spread positive feedback, thereby building your reputation and extending your customer base.
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7. Refurbishing iPhones
The charm of Apple devices is something that no one can explain and it continues to fascinate the Nigerian population. Amidst this surge of “Apple addiction,” sits a profitable business opportunity for you in Nigeria. You can enter the small-scale business of iPhone refurbishment.
With the appetite for this highly-coveted gadget ever-growing in Nigeria, the potential to provide for the needs of people who can not afford a new one is high. This is where you come in by providing refurbished models.
If you still don’t understand what this business is all about, “refurbished” simply means a phone that has already been used but got restored by Apple. Start by getting the right connection to import this kind of phone in bulk. You can then resell it to Nigerians at a price cheaper than the actual price of new iPhones.
Note that the competition within this business is fierce, so you must craft a standout reputation and trustworthy brand identity. Use the power of social media to promote and advertise your business.
8. Photo and video equipment rental
In a world where camera equipment has become very expensive, so many aspiring photographers and videographers can’t fulfil their dreams due to cost. This pressing need opens the door for you to offer rental services for different kinds of photo and video equipment.
Organising this kind of business in Nigeria is pretty straightforward. All you have to do is invest in a wide range of quality equipment, such as high-end cameras, video cameras, tripods, and lighting gear.
At first, you can start small and look for customers interested in renting any of these gears for a reduced fee. As your business grows, and becomes more profitable, you can consider expanding.
To further simplify your operations, consider establishing a devoted rental studio. This simply involves renting a space, equipping this space with numerous gear, and hiring experts to offer extra services like video filming and editing.
With commitment and a devotion to quality, you’ll be able to help Nigerians capture their special moments at affordable cost.
9. Commercial cleaning services
Commercial cleaning services are currently one of the highly profitable hidden business opportunities in Nigeria. The best part is that this lucrative small business opportunity has minimal expertise requirements while offering you swift returns.
The demand for house cleaning, especially amongst the middle and rich class in Nigeria, and growth prospect is so high. So this is something to jump on before the space becomes saturated.
You can start by employing a few cleaners for the job. Thereafter, leverage social media to advertise your cleaning services and get customers. Usually, satisfied customers will recommend you to their family and friends.
From small beginnings, your business will grow and then, you can expand by developing a website that offers cleaning supplies and regular household products. It is possible to diversify your services and include petty things like plumbing and wiring. One good thing about commercial cleaning services is that it is very easy to start and grow
10. Event planning
Event planning focuses on organising conferences, meetings, weddings, birthday parties and various fun-filled gatherings. This profession is a modern and profitable one, offering practical assistance to individuals and companies in need of meticulously planned and organized events.
As an expert event planner, you play a key role in orchestrating quality experiences, with success in this business hinged on your capacity to take care of your diverse customer requirements and steer through unexpected challenges with composure.
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11. Food Truck/Container Business
Another hidden business opportunity in Nigeria is the food container business that covers only the needs of the working class. Since most people are too busy working these days, only a few take the time to cook homemade meals before heading for work. So you’d definitely have a lot of workers to feed on a daily basis through your food truck business. Note that in order to run this business efficiently, you have to stock up on different foods that the majority of people would love to eat and position your business in high-traffic areas.
12. Organic Farming Business
Unlike many African countries, Nigeria still struggles to fully realize its farming potential, despite being known for its fertile land. In fact, Nigeria has a track record of being one of the world-leading producers of crops like cocoa, cashews, and even soybeans. With organic farming in an organized manner still somewhat new in the country, you can dominate farming with this style of farming.
All over the world, organic produce is in high demand, so head out into the field and start farming. You can decide to start with a small portion of land and expand as the demand for your crops gets higher.
13. Beekeeping and honey production
Beekeeping and honey production is one business that offers great potential for young people in Nigeria aiming for small-scale agricultural possibilities. Essentially, this venture offers you a considerable income stream, whether sought as a primary business or as a side hustle.
The business of beekeeping and honey production is a profitable project that needs limited capital and fundamental skills, with a very straightforward product marketing process. Since honey is in high demand in Nigeria (especially amongst the older demographic), it will be practically impossible to lack customers.
Beekeeping’s appeal majorly lies in its plainness and sustainability. With the correct equipment and adequate beekeeping knowledge, you can establish and sustain beehives for your honey production business. This process will not just connect you with nature but also provide you with a dependable income source.
Marketing honey is very easy. Honey’s natural allure and vast health benefits make it very attractive to consumers. Whether it is sold locally or through various digital channels, the need for honey is consistent, which makes this business even more appealing.
14. Waste & Sanitation Management
Billions of rubbish are amassed globally each year, yielding an incredible $410 billion in revenue. So, this is a motivation for you to dive into waste collection in Nigeria. There is a possibility of becoming one of the wealthiest entrepreneurs in Nigeria just by gathering and recycling waste from people’s households.
As a small business owner who is into waste & sanitation management, you do not even need to be in charge of the recycling process. All you have to do is find a way to collect and deliver waste items to companies that already have recycling plants, and you will get paid for it. So, if you’re ready to get your hands filthy, waste management is one of the highly profitable hidden business opportunities in Nigeria.
15. Security & Tracking Services
You can sell, fix, and install CCTV cameras, stun guns, pepper spray, GPS trackers, lasers, car trackers, alarm systems, mobile trackers, as well as other security devices and make a lot of money from it. This business is particularly successful in affluent societies and places with high crime rates.
The benefits of urbanization are numerous. Unlike bouncer and security services, where you have to do everything physically, machines perform everything here. This business has the potential to generate millions of Naira per month.
Note that to start this business, you should already have a basic understanding of how security & tracking services work and the appropriate credentials to back up that claim.
What Business Can I Start in Nigeria in 2023?
There is a wide range of business opportunities you can start in Nigeria in 2023. Some of these businesses include event planning, freelance writing, social media management, graphic design, online tuition, and many others. The goal is to determine your abilities and passion and then find a niche in which you can put value.
Closing Thoughts
As far as entrepreneurship is concerned, there are numerous highly profitable hidden business opportunities in Nigeria so it is impossible to run out of business ideas. Now that we’ve listed the top 15 hidden businesses that you can try, it is important to understand that you should strive to have a basic understanding of the business you want to venture into. When you do this, it becomes very easy for you to navigate your way through the intricacies and demands of this business in the Nigerian market.