There are many unique business ideas in Nigeria. Here in this article I will share with you five (5) best unique business ideas in Nigeria that you can begin with little startup capital. These businesses I will share with you are very profitable but not known by most Nigerians. Therefore, ensure you read through and take action. Remember nothing changes until you take action.
Now let’s roll…
5 Unique Business Ideas in Nigeria with Little Startup Capital
1. AFFILIATE MARKETING
Perhaps you have heard about affiliate marketing before or maybe you haven’t. Affiliate Marketing is a business that involves marketing other people’s products online or offline and getting paid a certain percentage of the profit made.
Affiliate Marketing is different from network marketing or multi-level marketing. I like to call it an introvert’s business because you can do it without having to talk to people one on one. It is for both introverts and extroverts, even if you have zero marketing experience.
Assuming a product sells for N20,000 and the affiliate commission is 50%, if you make just five (5) sales in a week your income would be 10,000 x 5 sales = N50,000. That’s a huge profit. Affiliate commissions are always high in most cases. For instance, this company will pay you $65 if you refer a customer who buys from them. That’s the beauty of affiliate marketing. You can be in Nigeria and be an affiliate for different companies all over the world.
Let me share this with you…
HOW TO START AFFILIATE MARKETING AND MAKE LOTS OF MONEY
- Do your research
- Decide on a niche
- Join an affiliate network
- Start promoting
I will not leave you in the dark. I will explain the points above in details.
Do your research
The first step of every successful business is research. You need to study about the business you want to go into before you dive into it. Toyin Omotosho, a very successful internet marketer, created a free video training where he explains affiliate marketing. Click here to see the video.
Decide on a Niche
A niche is an aspect of affiliate marketing you want to be promoting. There are many niches in affiliate marketing which include education niche, automobile niche, finance niche, weight loss niche, beauty niche, furniture niche, software niche, and many others. In fact, there is always an affiliate program for any kind of niche you decide to choose.
If you are just starting out as an affiliate marketer, choosing a niche may seem difficult but don’t worry because as time goes on, you will find out that your niche will come to you naturally.
Join an Affiliate Network
An Affiliate Network is a company you partner with to promote their offers. There are many networks you can register with like Expertnaire, JVZoo, Warriorplus, Commission Junction, Grammarly, etc. However, some international affiliate networks require that you have a website before you can join them. Click here to learn how to create one easily by yourself, without the help of any programmer.
After joining an affiliate network and getting approved, the next step is to start promoting.
This is where it gets interesting…
Let me walk you through the steps to promote affiliate products…
HOW TO PROMOTE AFFILIATE PRODUCTS AND MAKE LOTS OF PROFIT
I have outlined below four (4) ways you can promote affiliate products and make lots of money from it. The third method is my favourite.
- Free advertising
- Paid advertising
- Create a YouTube channel
I guess it’s getting more interesting…
I will explain them one by one… Keep reading.
From the name, free advertising, you know it is a form of advertisement you are not paying for. The free advertising method involves telling people one on one about the affiliate products you are trying to promote. You can do this by chatting up your friends online, asking them to buy your offer or posting the products on your Facebook wall. I personally consider this method as the least effective among the four.
This method involves running paid advertisements online in order to send traffic (people) to the offer you are promoting. This method is more effective than free advertising method because you can reach thousands and millions of people with it depending on your budget. It involves running Facebook ads, Instagram ads, Google ads, Bing ads, etc.
The paid method is an automated process. This means that you set up a buying and selling process that runs itself. To make this method work, you have to set up what I call “a sales funnel”.
A sales funnel is an automated process that you set up for your potential buyers to go through to buy your offer. You don’t just run an advert directly to what you are selling. It is important that you capture the email addresses of these potential buyers in order to do a follow up on them. That is why we are setting up the funnel.
What make up a sales funnel are: an advert, a pre-sell article, a landing page, a thank you page and a sales page. This video explains it more.
Here is an image of a sales funnel
The advert will contain captivating text called an ad copy and an image. The pre-sell article is an article specially and professionally written to make potential buyers have “a foretaste” of what they are buying. The landing page is where you tell them to sign up for your offer with their name and email address.
The thank you page is where they are congratulated for signing up. Finally, the sales page is where they buy your offer. Click here to sign up for a free trial of a software that helps you create landing pages, thank you pages and capture your customers’ email addresses. You can use the software free for 30 days. To do this effectively, especially as a beginner, you may need to hire a copywriter to help you out.
This method can generate monthly recurring revenue for you if you do it the right way. It involves posting articles that solve people’s problems on your website (blog) and placing your affiliate links within those articles. This way, as long as your blog posts are online, your affiliate income will keep flowing in. However, it will require you to have a website of your own.
Creating a website is easier than ever now. All you need is to buy a domain name and a hosting plan and your blog will be online. This guide will teach you how to create a website/blog by yourself. Click here to see the guide.
Create a YouTube Channel
Starting a YouTube channel and creating video contents that solve people’s problems on YouTube is another great way to make money from affiliate marketing. You do not need so many subscribers to start this method. All you have to do is create problem solving videos and place your affiliate links right at the top of the description box for your viewers to click and make a purchase.
I wrote more in detail about how to start a YouTube channel that makes you money. Click here to see the article. Moreover, here is a video training that reveals how to start a YouTube channel and turn it into a money making machine.
I have covered quite a lot on Affiliate Marketing. Now let’s go to the next point of unique business ideas in Nigeria with low startup capital…
2. MINI IMPORTATION BUSINESS (E-COMMERCE)
Mini importation business is a business you can start with just N20,000. But first, let me tell you what mini importation business is.
Mini importation, one of the unique business ideas in Nigeria, 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 mini importation business. That’s an INSANE profit margin. But it’s true.
It is a business anyone can do. An interesting fact to note also is that you do not have to travel out of the country start mini importation business. 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 from E-Commerce companies like Alibaba or 1688.com 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. It is this same importation strategy that online retail companies in Nigeria like Jumia and Konga use.
Jonathan Melody, one of the most successful mini importers in Nigeria who is making 7 figures from his business, 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. Click here to see the special video training he created.
Another successful mini importer in Nigeria is Patrick Ogidi. He has also trained thousands of people in the business. However, he knows the right way to do it and he is willing to show you the right way to scaling E-Commerce business. He has also created a free video training that he titled “The Smart E-Commerce”. Click here to see the free video.
These two (2) video trainings will launch you into what you need to get started with E-Commerce business.
Blogging is surely one of the unique business ideas in Nigeria. A lot of people do not know this. When you are just starting out as a blogger, it will require more of your time than your money but it will surely pay off. It entails writing articles that solve people’s problems on your website (blog).
Perhaps you are thinking “oh I don’t know how to write well”. Don’t worry, relax your mind. There are freelance writers who are more than willing to write for you at a little price. Moreover, you can learn how to blog.
Blogging has a potential of making you millions monthly. If you are tired of your 9 to 5 job and you really want to make a difference in your life, you cannot go wrong with blogging.
Let me show you the ever dynamic steps to start blogging for money…
How to Start a Blog That Makes You Money Even If You Are a Total “JJC”
- Choose a niche
- Create the blog
- Do keyword research
- Post quality contents
- Monetize the blog
Choose a Niche
A niche is a specific aspect you want to blog about. There are several profitable niches which include finance, relationship, health and fitness, weight loss, automobile, software, and many others.
Create a Blog
It is very easy to create a blog. To create a blog, all you have to do is get a domain name, buy a hosting plan, download WordPress, and customize your new site. I wrote an in-depth article that will guide you on how to create a blog. Click here to see the article.
Do Keyword Research
After setting up your website (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. As a blogger, you do not just write what you want, rather you write to solve other people’s problems and that is where the real money is.
When you are doing keyword research, always look for low competition keywords. It will help your blog to rank faster in search engines.
There are online tools that can help you with your keyword research. Some of them are KWFinder and SEMRush. SEMRush has a very large database of keywords because it pulls data from all over the world. You can sign up for KWFinder free trial here or sign up for SEMRush free trial here.
Also, you can use the free search tool below to begin your keyword research. It will give you access to a 7-day free trial.
Post Quality Contents
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 quality 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 contents 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.
Monetize the Blog
This is the interesting part. You can monetize your blog by registering with PPC or CPC sites. PPC means Pay Per Click and CPC means Cost Per Click. They are advertising companies that place advertisements on your blog and pay you for it. However, to fulfill the requirements of some of these advertisers, your blog must have enough monthly visitors. Some PPC programs you can register for include Google Adsense Program, Media vine and so on.
However, this is not the only way to monetize your blog. You can accept guest posts on your blog and charge them a little fee for it. In addition to that, you can monetize your blog by selling physical or digital products. Another very profitable way to monetize your blog is through Affiliate Marketing.
Affiliate marketing through blogging is very profitable. It gives you recurring revenue monthly as long as you keep getting visitors to your blog. Write posts that solve people’s problems and use that opportunity to sell whatever affiliate product you want to sell.
Note: I recommend that you take a course on blogging if you are a total beginner. It’s not bad to buy paid courses online. The best investment you can ever make is the one you invest in yourself. You are the one who can make “you” money.
Here is a full training course created by a former secondary school teacher who is now a successful blogger and internet marketer about how to start a blog that makes you between N250,000 to N2.5m + per month. Click here to see the training.
4. SELLING DIGITAL COURSES
Back in those days there was nothing like “online courses” Today, with the advent of the internet, selling digital courses online has made a lot of people self made millionaires. The projected value of the global e-learning market is expected to rise to $275 billion by 2022. That is how fast the e-learning industry is growing.
Digital courses can be in form of eBooks, videos, or CDs. It involves packaging your knowledge about a particular topic in written or video formats and selling them online. However, if you want to really make money from it don’t just package something that will bore people.
Nobody will buy a boring course about a boring topic. People have problems and they will pay any amount to get solutions to their problems. There are many topics you can create digital courses about. For example, you can create courses on “How to lose weight” or “How to make money online”. People are constantly looking for topics like that therefore it has a huge potential of making you money.
Interestingly, even if you do not know how to write well, there are people who have written about those topics and will give you license to sell them and keep 100% of the profit. This is called white label.
Jonathan Melody has a video training about how to start selling digital courses. He titled the video Information Business Machine. Click here to see the video.
Copywriting is more than a business. It is a learnable skill that can keep generating money for you. Moreover, it is a form of writing used to persuade people to take an action.
In addition to that, it is also a high income skill that is in high demand all over the world. If you are looking for unique business ideas in Nigeria, you cannot go wrong with copywriting.
Every business needs the service of a copywriter to take it to the next level. As a Nigerian looking for unique business ideas that will cost you little startup capital, you should learn copywriting because it will surely make you a full time living.
HOW TO BECOME A COPYWRITER
There are few steps to take on how to become a copywriter who makes a lot of money. They are:
- Take a copywriting course
- Get yourself a mentor
- Monetize your copywriting skill
Take a Copywriting Course
If you are new to copywriting, I recommend that you take a course on copywriting. Copywriting is not academic writing so you can learn it in a short period of time. You can start by getting this Copywriting eBook. Also, you can sign up for Fiverr copywriting course or Foreign Copywriting Initiative.
Get Yourself a Mentor
A mentor is a guide. Look for someone online or offline to model. You do not have to be where your mentor is to learn from them. There are many copywriters you can follow on YouTube like Dan Lok and Alex Cattoni.
Practice makes perfection. The more you practice the art of copywriting, the better copywriter you will become.
Monetize Your Copywriting Skill
Here are the five (5) unique business ideas in Nigeria you can start with little investment. These lucrative and unique business ideas are not known to many. Take advantage of this opportunity and start something today.
Now, it’s over to you. What do you think? Comment below!
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