You are currently in town and you need business ideas in Abuja. Trust me you are not alone. Here is a complete guide that will give you profitable business ideas in Abuja. Therefore, ensure you read this article to the end and come back to thank me later because you will be glad you did.
Business ideas do not easily come by but when they come like this you have to grab them and take action immediately.
In this article, you are going to discover five (5) profitable business ideas in Abuja to keep you rolling.
Top 5 Awesome Business Ideas in Abuja, Nigeria
- Affiliate Marketing
- Cryptocurrency Trading
- Real Estate
Ever heard about E-Commerce business? It is also called Mini Importation business. This is what comes to mind when you hear about big companies like Jumia, Konga, Amazon and Alibaba. But the truth is, you do not have to start an E-Commerce business big time like any of those companies. With as little as N20,000 you can start an E-Commerce business.
Lest I forget, E-Commerce is a business model whereby you import goods at very cheap prices from countries like China or USA and sell them here in Nigeria at the price of your choice. I’ve heard people make up to 1,500% Return On Investment (ROI) in E-Commerce business. That’s an INSANE profit margin. But it’s true.
E-Commerce is a business anyone can do. An interesting thing to know also is that you do not have to travel out of the country to import anything. That would be time wasting. Technology has made our lives so easy. Just with your personal computer or your mobile phone, you can order for goods and watch it get delivered to your doorstep here in Nigeria. You don’t even have to be a “Lagosian” to do this. You only need a traceable address anywhere in the country to get started.
This business model will be good in a place like Abuja where there is a good flow of cash.
What you need to get started with E-Commerce business
E-Commerce business is scalable but I won’t lie to you, you need a mentor to get started if you are new to it. Not every mini importer is successful and this is because they lack mentorship. According to John Crosby, “Mentoring is a brain to pick, an ear to listen, and a push in the right direction”. Get a mentor who is successful in the business already and is willing to show you the exact strategies he/she used to become successful.
Jonathan Melody, one of the most successful mini importers in Nigeria who is making 7 figures from his business, will make a good mentor. He created a free video training that he calls The Perfect E-Commerce Business. In the video, he shared how he started E-Commerce business the wrong way and later found the right way that is working for him now through a mentor. Also, he has trained over 5,000 people in the business.
Another successful mini importer in Nigeria is Patrick Ogidi. I am certain he will make a good mentor also because he has trained thousands of people. He knows the right way to do it and he is willing to show anyone who is interested the right way to scaling E-Commerce business. He has also created a free video training that he titled the Smart E-Commerce.
These two (2) video trainings will launch you into what you need to get started with E-Commerce business.
Another thing you need to get started is capital. With as little as N20,000 you can start an E-Commerce business in Abuja. This is one of the best business ideas in Abuja.
2. AFFILIATE MARKETING
Affiliate marketing is a business model that involves marketing other people’s products and getting paid a certain commission when a sale is made. People tend to undermine the power of affiliate marketing but they do not know that one can make millions from it if it is done in a right way. Affiliate Marketing is NOT a multi level marketing business whereby you go from house to house knocking people’s doors, telling them to buy some drugs. NO, IT IS NOT.
It is a business model that allows you to make money legitimately without leaving your house. All you need is a computer and an internet connection.
This is how Affiliate Marketing works…
a. Decide on a niche
A niche is an aspect of Affiliate Marketing that one can specialize in. You can decide to specialize in the software niche, automobile niche, finance niche, romance niche, relationship niche, or even weight loss niche. The list is endless. There are many more niches out there.
b. Join an affiliate network
The next step is to join an affiliate network. An affiliate network or company is a company that involves four (4) parties: The seller, the affiliate, the customer or buyer and the company itself. The seller owns the product to be sold, the affiliate finds a way to market the product. When a customer buys the product, the affiliate marketer gets paid his or her own commission. For instance, if a product sells for N20,000 at a commission rate of 50%, if an affiliate successfully refers 10 customers that buys in a day, his commission will be N10,000 x 10 customers = N100,000 in just a day.
I know you might say, “I don’t like any business that involves referring people” Well, me too. The truth is you can do this without opening your mouth to speak to anyone.
This brings me to this question…
How do I promote Affiliate Products?
I will share with you four (4) ways to do this
i. Free advertising
This is the least effective method of the four methods I will reveal to you. It is the kind of advertising you do through word of mouth or to your social media friends. That is why it is called free advertising.
ii. Paid Advertising
Paid advertising is a more effective way of advertising affiliate products. You pay Facebook, Instagram, Google or Bing some amount of money to put your advert in front of as many people as possible. You can potentially reach thousands or even millions of people with this method.
It will require you to set up an automated process a customer will go through to buy the product you are marketing. This automated process is called a sales funnel.
A sales funnel consists of an advertisement your audience will see, the advert leads them to a page called the landing page. The landing page is where they will input their name and email address. This page will then lead them to another page called a thank you page congratulating them of their decision to get your offer. Afterwards, the thank you page will lead them to the sales page where they will make the purchase.
The reason for this seemingly long process is to get the customer’s contact so that you can do a follow up on them.
iii. Website Content
Affiliate Marketing can be done through website contents also. By this I mean making money through blogging. This method will require you to have a website of your own. It will take up to 6 months to 1 year to start seeing good results with this method but if you endure and do it the right way, your revenue will exceed the other two methods above. To learn more about this read this article.
iv. YouTube Content
Creating YouTube videos is another massive affiliate marketing strategy that works so well. Create quality video contents that solve people’s problems based on the niche you decided earlier, and then place your affiliate link at the top of the description box. Remember to tell your viewers to take an action by clicking on your link to make a purchase of whatever you are promoting. By the way, an affiliate link is a unique link that you are given by your affiliate network. This link is used to track where the sale came from.
Are there Affiliate Networks in Nigeria?
The simple answer is YES, there are many of them. Some of them are:
3. CRYPTOCURRENCY TRADING
A Cryptocurrency is a digital coin. It is not physical, therefore it is meant to be transferred among people virtually. However, cryptocurrency trading is the buying and selling of digital coins. There are more than 2,000 cryptocurrencies in existence as at January 2020, Bitcoin which is the leader among them. Other popular cryptocurrencies are Ethereum, Ripple, Litecoin, and Lumen.
As at 2018, the CBN stated that “dealers and investors in any kind of crypto currency in Nigeria are not protected by law”. However, now the story has changed. The Federal Government has finally legalized it and even declared it as “alternative investment opportunities for the investing public”. This is because they have finally seen a huge potential in it.
The earlier one starts a business, the better and easier it gets. There are many cryptocurrency trading platforms you can begin with. These include, but not limited to, Luno, and Quidax. These platforms will accord you the privilege to open a cryptocurrency wallet with them and start trading.
However, I strongly recommend you to be properly guided before diving into it. If you are just starting out, you will need a mentor to guide you and show you how it is done.
4. REAL ESTATE
Real Estate is the general term for the buying, selling or leasing of lands, houses, shops and any property that can be built on a land.
This is one of the highest paying businesses you can start in Abuja. Real estate is one of the good business ideas in Abuja because high profiled people live there. Consequently, investment in properties is bound to sell well. You need capital to start this business but if you have no capital, you can begin as a realtor. Realtors are affiliates of real estate companies. You can also call a realtor a real estate agent.
When you refer somebody to buy a piece of property as a realtor, you get paid a certain commission. Interestingly, it is free to become a realtor. In addition to that, real estate companies do organize free seminars and workshops for their realtors in order to fast track their success. There is a lot of money in the real estate business therefore, your commissions as a realtor will be pretty high also. You can become a realtor by signing up online with some real estate companies like Landwey, and EUC homes
Freelancing simply means turning your skills into cash. A freelancer is a self employed person hired to carry out specific assignments. It is a great way to sell your skills for money. There are many freelance websites where you can start from. Fiverr, Freelancer.com and Upwork are great places to begin from. All you have to do is register for free, setup your profile and start selling your skills. Copywriting and Graphics Design are some of the skills that are in very high demand. You do not have to be where the buyer is to carry out any task. You will carry out all tasks online.
Interestingly, you don’t have to do the jobs yourself if you feel you do not have the relevant skills. You can get a job on Fiverr and outsource it to another freelancer on freelancer.com and still profit from it.
Every business takes time and effort to start yielding profit. Any business that promises overnight success is no business at all. You are looking for business ideas in Abuja and there they are: E-Commerce or mini importation business, Affiliate Marketing, Cryptocurrency Trading, Real Estate, and Freelancing. Make sure you don’t just read, take action and start something today. In the words of Winston Churchhill, “The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty”. Therefore, the earlier you start that business the better and easier for you.
What do you think? Let me know in the comments. I wish you all the best!