There are many emerging business opportunities in Nigeria at this time. Most average Nigerians do not know this. A lot of these businesses can also be started with little or no capital.
In this article, you will discover six (6) best and highly profitable emerging business opportunities in Nigeria that you can start.
Ensure you read this guide till the end and TAKE ACTION.
6 Most Promising Emerging Business Opportunities in Nigeria
One of the most lucrative emerging business opportunities in Nigeria that most people do not know about is Copywriting. Meanwhile, copywriting is a learnable and a highly profitable skill that can be traded for cash. This is what makes it one of the emerging business opportunities in Nigeria. In the world of digital marketing, copywriters are always in high demand.
What is Copywriting?
Copywriting is the art of writing to persuade people to take an action, usually to buy a product or service. It is the power to persuade people using written words. This piece of writing is called “copy”.
Every business needs the service of a copywriter in order to generate more profit. For instance, if only one out of one hundred people buy a product or service of a company, the work of a copywriter is to write “copies” that will increase sales from one out of one hundred to maybe five (5) out of one hundred. This is five (5) times more sales.
The most interesting part of this is that copywriting can be learnt. Anyone can do it, even university dropouts. One of the most successful copywriters today, Dan Lok, never graduated from the university, yet he makes millions from it. However, this is not to encourage mediocrity but to let you know that anyone can do this.
If you have ever read any piece of article online or offline that convinced you to take an action, there is a good chance it was written by a copywriter.
What You Need to Become an Outstanding Copywriter
- Learn from a Mentor
- Practice! Practice!! Practice!!!
- Monetize the skill
- Keep Practicing
Learn from a Mentor
Every successful businessman or woman learnt from a mentor. Copywriting is not an exception. To succeed in copywriting, you need a mentor. Some of the greatest copywriters of all time are Gary Halbert, David Ogilvy, Alan Jacques, and Dan Lok. One thing common to all of them is that they all had mentors.
Practice! Practice!! Practice!!!
You are what you consistently do. Therefore, if you want to be a copywriter, write consistently. Nothing good comes easy. If you really want to be an outstanding copywriter, you have to practice copywriting consistently. This is the secret of all successful copywriters. It is not enough to take a course on copywriting. Therefore, you have to practice on your own. Practice makes you perfect.
Monetize your skill
After taking a course on copywriting with a mentor, you have to monetize your skill. As a beginner copywriter, you can monetize your newly acquired copywriting skill by starting as a freelance copywriter.
A freelance copywriter is a copywriter who is an independent contractor. This means that individual persons or organizations hire you to write “copy” for them. There are different freelance websites you can start your freelance journey from. Some of them are, Fiverr, Upwork, Freelancer.com, HireWriters, etc.
Practice is a necessity in copywriting. Therefore, practice makes a copywriter but consistent practice makes a better copywriter. So keep practicing.
Dropshipping is one of the emerging business opportunities in Nigeria right now. It is still an untapped business idea that many people are not aware of. It is a business model that is not yet saturated therefore it is easily scalable.
What is Dropshipping?
In simple terms, dropshipping is a business that involves creating an online store (a website) and listing products for sale on it. Therefore, when people place an order and make payment, you will contact a seller who will deliver the product to the buyer.
For instance, most dropshippers in Nigeria partner with Aliexpress. Therefore, when customers make orders from a dropshipper’s website, the dropshipper will give the details of the customer to Aliexpress who will in turn deliver the goods to the customer.
A dropshipper is like a middle man between a seller and a buyer. He collects orders from customers online and pays the seller to deliver the ordered goods to the customer. He makes profit from the price difference.
That is what dropshipping is all about.
3. Graphics designing
Graphics designing is also one of the highly profitable emerging business opportunities in Nigeria. A lot of individuals and companies are always in need of graphics designers.
Therefore, graphics designing is the creation of visual concepts by graphics designers using software in order to communicate ideas, inform, educate or even entertain. Graphic designers use computer software like CorelDraw, Photoshop and even Canva.
How to Become a Graphic Designer…
- Take a course on Graphics Design
- Monetize your skill
Take a Course on Graphics Design
There are lots of graphics design courses online that you can take to start a career as a graphics designer. Also, there are computer institutes and business centers that offer graphics design tutorial. You just have to look for the best for you and enroll.
It is true that practice makes perfection. What makes an outstanding graphics designer is consistent practice. The more you practice, the better designer you become.
Monetize your skill
After series of practice, the next step is to monetize your graphics designing skills. You can start by making designs for friends and families for money. Moreover, you can monetize your graphics designing skills as a freelancer. Freelancers are independent contractors who trade their skills for cash.
4. Video editing
One of the most lucrative and profitable emerging business opportunities in Nigeria is video editing. Video editing involves using computer or mobile video editing software to edit videos for publishing.
There are lots of “Youtubers” who need video editors to edit their videos before posting online. This is a good chance for you to make money. Moreover, a lot of individuals and companies are always in need of video editors for their video editing works.
5. Mini Importation Business
Another business that is one of the most lucrative emerging business opportunities in Nigeria is Mini Importation business. It is also called E-Commerce business. This business is highly profitable if it is done the right way.
What is Mini Importation Business?
Mini Importation is a business model that involves importing goods from other countries like China at extremely cheap prices and selling them at high prices here in Nigeria. Most Nigerian mini importers import from Chinese websites like 1688.com, Alibaba and Aliexpress. It is one of the most profitable emerging business opportunities in Nigeria today.
How to Start Mini Importation Business in Nigeria
There are steps one must take to start a profitable mini importation business in Nigeria. They are:
- Decide on a niche
- Source for products
- Buy from a trusted supplier
- Pay for the products
- Product Delivery
- Start Selling
Let me explain further…
Decide on a Niche
A mini importation niche is an aspect of mini importation you want to go into. Deciding on a niche is always the first step to every successful business. One cannot be a jack of all trade in mini importation business. You have to be specific on the type of products you want to be importing. This is why you need to decide on a niche. Therefore, the particular type of product you focus on is your niche.
For instance, you can focus on importing and selling health related products. Also, you may decide to focus only on importing electronic gadgets. It is generally recommended to import hot selling products. Hot selling products are products that are in high demand. They are products that people are always looking for and will pay any amount to get. Watch this video to learn more about choosing hot selling products.
Source for Products
Sourcing for products means to determine where you will import from. There are lots of E-Commerce companies one can import from online. Some of the reputable companies one can import goods from are Amazon, Alibaba, Aliexpress, and 1688.com. However, sourcing for products is a crucial step in mini importation business. You have to determine where to buy quality goods at the lowest price possible.
Buy from a trusted supplier
After determining the best company to buy from, the next step is to buy the products from that trusted company (supplier) you chose. Before you buy, you have to check for ratings and reviews about the products in order to be sure that they are of good quality.
Pay for the Products
After payment, your goods will be shipped to you depending on the method of delivery you choose. However, the delivery method you choose will determine how long your goods will take to arrive. There is an option of free delivery and there is an option of premium (paid) delivery.
Free delivery of your products will most likely take a long time. However, a lot of people go for the premium delivery because it is the fastest form of delivery.
The next step after your products are delivered to you is to start selling. There are many ways to sell products. You can sell offline and you can sell online or you can combine both. One of the best ways to sell mini importation products is to sell online.
However, it is advisable to learn from an expert who will also double as a mentor. One of the most successful mini importers in Nigeria created a course that he titled The Perfect E-Commerce Business where he shared how to start a profitable mini importation business and make 10x profit.
Blogging is one of the emerging business opportunities in Nigeria today. Although blogging is practiced by a good number of people, yet most people have not fully discovered how lucrative it is. Have you ever wondered why most bloggers are full time bloggers? That is because they do not need any job anymore. Linda Ikeji, one of the most successful bloggers in Nigeria, made all her fortune through blogging.
What is Blogging?
Blogging simply means writing articles (blog posts) that solve people’s problems on your website (blog). People have problems (needs) definitely and they go online to search for a piece of information that solves their problem or addresses their needs.
These needs vary. It could be a need to have access to news (on a news blog) or it may be a need to read a review about a particular product (on a product review blog). There are other different types of blogs out there. However, the aim of all blogs, whatever the type, is to solve people’s problems and “minister” to their needs.
It is in solving people’s problems and ministering to their needs that a blogger makes money. A blogger gives value and earns money from it.
Click HERE to access a full course on blogging that will certainly help you kick start your blogging career from making nothing to making at least 250k a month.
How to Start Blogging and Become Successful
You can become a successful blogger if you put your mind to it. I will share with you the step by step guide to start a blog that will make you money.
Step 1: Setting up your blog
- Choose a niche
- Get a domain name
- Buy a web hosting plan
- Install WordPress (Recommended)
- Customize your blog
- Download necessary plugins
- Index your blog
Step 2: After setting up the Blog
- Do keyword research
- Start posting contents (articles)
- Monetize the blog
Let me explain these steps further to you…
Step 1: Setting up your blog
Decide on a niche
Blogging requires that you are specific about what you want to be blogging about. You cannot be blogging about everything or nothing in particular. No. You must have a focus. Therefore this focus is called a niche. It is a specific aspect you want to be blogging about. There are different blog niches like news, politics, finance, relationship, health and fitness, weight loss, automobile, software, pets, and so many others.
However, you have to do a little research to know whether the niche you are choosing is profitable.
For instance, if you are a news blogger, you can monetize your blog by charging people to place adverts on your blog. This is a highly profitable blog monetization method. This is what people like Linda Ikeji uses to make her fortune.
Also, when deciding your niche, choose the one that aligns with your passion and cannot get tired of writing about. This will really help your blog in the future.
Get a domain name
A domain name is the name you want your blog to be called. For example, www.adexreviews.online is the domain name of this website. You are the one who will decide what name you want your blog to be called. Once you buy a domain name, the blog will be active online automatically and no one else can buy it again as long as it is active.
I recommend getting your domain name from Bluehost. They offer a free domain name for the first year if you buy a hosting plan from them.
Use the free tool below to check if the domain name you want to use is available.
Buy a web hosting plan
A website host is an online server that houses your blog (domain name). Once you buy a domain name, your blog will be active automatically. However, without a hosting plan it won’t work. A hosting plan is the house where your blog and all its contents live. For instance, a desktop computer has a Central Processing Unit (CPU). Inside this CPU is where your files are stored. This is exactly how a website (blog) works too.
Your hosting plan is the CPU of your blog. It stores all the contents of your blog. Your blog (domain name) needs a house (hosting) to come alive. That is why you need to buy a hosting plan. Click here to buy a hosting plan.
Install WordPress (Recommended)
I recommend using WordPress for your blogging platform. WordPress on your blog is like Microsoft Windows on your laptop computer. We use WordPress to type, edit posts, and control the look of the blog. It is the most recommended blogging platform worldwide because it is easy to use.
It is also specially designed for blogging. Bluehost hosting plan comes with pre-installed WordPress. All you have to do is sign in to your hosting account after paying then click on WordPress to install it. Alternatively, you can download it and install it manually.
Customize your blog
To customize your blog, you have to install a theme. WordPress comes with some pre-installed themes you can choose from. If you do not like any of the pre-installed themes, you can download a theme of your choice online and install it. A theme is what gives your blog a good look.
Download necessary plugins
One of the most important plugins that is “a must have” for all bloggers is Yoast SEO plugin. This plugin guides you in writing blog posts that are search engine friendly. In other words, it will help you write posts that will rank high in Google search results.
Index your blog
This is a very important aspect of setting up your blog. Indexing is what makes search engines like Google and Bing find anything you post on your website. You only need to index your blog once then anytime you post anything, Google will easily find it.
Watch this video guide on how to index your blog.
Step 2: After setting up the Blog
Do keyword research
After setting up your blog, the next crucial step is to do keyword research. Keyword research means topic research. You have to do a research about the topics people are searching for on the internet, based on the niche you chose. As a blogger, you do not just write what you want, rather you write about what people are searching for to solve their problems and that is where the real money is.
For instance, if you write an article about how to buy a phone online, you are solving the problems of people who don’t know how to buy a phone online. Therefore, if you are an affiliate for a phone company like Konga, you will leave your affiliate link somewhere in the post for your readers to click to buy. If they buy, you get paid your own affiliate commission.
When you are doing keyword research, always look for low competition keywords. It will help your blog to rank faster in search engines.
Also, you can use this tool to begin your keyword research
Start Posting Contents (articles)
After you have done your keyword research, the next step is to start writing blog posts based on the research you have done. When starting out, post as many good contents as you can and ensure they are well optimized for search engines. If you have no time to write or you do not know how to go about it, you can hire a freelance writer to write your blog articles for you. Click here to hire a freelance blog post writer.
However, while writing blog posts ensure that you optimize them well for search engines. This is called Search Engine Optimization (SEO). Every blog post must be optimized properly for search engines. This book will teach you about how to optimize your posts to rank well on Google. Click here to get a copy of the book.
Monetize the blog
You can monetize your blog in these ways:
- Affiliate Marketing: This is one of the most profitable ways to make money from a blog. Affiliate marketing has to do with promoting other people’s products (with your blog) and getting paid a certain commission for it. Whenever you post articles that have your affiliate links on your blog and people click to make a purchase, you get paid. Read more about affiliate marketing HERE.
- Google Adsense: When you register for the Google Adsense program, Google will place advertisements on your blog and pay you when people click on them. Ensure you do not deliberately click on those adverts yourself to make more money. Your blog will get penalized by Google for it.
- Selling your own digital products: If you have digital or physical products to sell, you can advertise them on your website for people to buy.
- Selling advertising spaces: When you have a huge number of people visiting your blog monthly, you can apportion certain columns or pages to people who want to advertise their own businesses on your blog and you will charge them for it. This method pays a lot.
Frequently Asked Questions
What is the fastest growing business in Nigeria?
The fastest growing business in Nigeria is internet business (Digital Marketing).
What businesses are in high demand in Nigeria?
Copywriting, E-Commerce, Real estate, Cryptocurrency.
What is the most profitable business in Nigeria?
There are several profitable businesses in Nigeria. The most profitable business depends on the time and effort you are willing to dedicate to it. However, Mini Importation, Copywriting, Affiliate Marketing and Blogging are highly profitable businesses.
What is the best business to start in Nigeria?
The best business to start in Nigeria is Digital Marketing.
There are lots of emerging business opportunities in Nigeria today. Here are the best six (6). Take action now and start a business because the earlier the better.
What do you think are emerging business opportunities in Nigeria today? Comment below.
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