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7 Profitable home businesses you can start in Nigeria in 2020

Why is home business working for many people today? The Internet and IT!

In the past, if you want to start a business you think of commercial office space or physical shop, going to the workplace every day, showcasing your products at a physical location, etc. But with the rise of the Internet, starting a business became much easier as what you need is a phone and Internet connection!

With the rise of home businesses and remote works, more people are discovering ways to pursue their entrepreneurial dreams with their headquarters at home. Today, technology has offered us more flexibility on how and where we work; be it at a dedicated office or workplace, or home-based businesses which come in a variety of forms. 

Starting a home business is much easier!

Even if it is physical goods that you sell, you can just convert a spare room into a mini-warehouse for products, while your business is run completely online. But in general, you can start these types of businesses using your available space and also, means.

Advantages of home businesses

  1. Low overhead costs (you don’t worry about warehousing fees, space or shop rent, costs of going to work every day, etc.).
  2. The option to sell products or services locally or internationally. You can reach more customers from the comfort of your home.
  3. Flexible work/life balance, which is ideal if you’re a stay-at-home parent or a retiree, for example. You choose your most convenient time to work or rest.
  4. You can create a family business where your relations or your spouse or friends can chip in ideas as needed.

Disadvantages of home businesses

There are also some disadvantages of home businesses but they are not going to stop you. Every type of business has challenges.

For example, working from home offers you a lot of freedom, but it can also get very lonely, especially if you are that type that enjoys being around other people most of the time.

Profitable home business ideas

Although there so many businesses you can start from home, the following are some of the most lucrative businesses you can do from home and still have chances of making a huge income.

Poultry Farming

Thousands of chickens and eggs are consumed in Nigeria on a daily basis. Even with the availability of poultry products in the market, demand is still high poultry products.

Many people in this country have grown small poultry farms to large ones generating tens of millions every year.

Former president Obasanjo owns one of the biggest poultry farms in Africa. Well, you don’t have to compare yours with that of Obasanjo especially if you don’t have the resources he has. But you can start at your own capacity.

To start a poultry farm, all you need is a small space in your backyard and small start-up capital. With time and as you make profits or raise more money, you can expand your poultry farm business.

Online freelancing

Freelancing has is working for many people in Nigeria already. With freelancing websites such as Fiverr, Upwork, Amazon Mechanical Turk, justfrom5k.com, and a host of others, you should utilize your skills to make money online.

Soft skills such as writing, data analysis, data entry, data scraping, web developments, virtual assistance jobs, and lots of others can fetch you some money online.

To get started freelancing online, sign up on any freelancing website of your choice, advertise the skills you are quite good at and you will have your clients contacting you to execute jobs or projects for them for a fee. If you don’t have any skills, you can learn online using YouTube or Google. 

Tip: Here are some of the most profitable freelancing gigs/skills to sell.

Selling at online marketplaces

With so many products to choose from, you can sign up at online marketplaces such as Konga, Jumia, Jiji, DealDey, eBay, Amazon and several others to start selling.

First, you have to identify the profitable products to sell, take pictures and videos of the products and post them on the marketplace.

An alternative way is to own an e-commerce store/website of your own where you sell your own products.

If you need an e-commerce website of your own, contact me and I will build that for you at affordable price.

Baking/pastry business

This works everywhere. If you can make cakes and small chops, you have a good business already.

The kids on the street, teenagers, and even adults all need something to crunch in their leisure.

You can start by making cupcakes, chin-chin, buns, and pies.

Maintain proper hygiene, make sure your products taste great as these are things that will help your business boom. It will surprise you how much you will expand in just a few months if you make the right product.

Aside from the retail sales, you could eventually become a supplier to children parties, picnics, and some light events. People celebrate birthdays every day; just think about having to supply cakes for all birthdays around you.

Baking/Pastry Making is a good business that has a very good yield and returns.

Bead making

Fashion is something that evolves all the time, it speaks volume to the visual and attracts. Most people want to look good, not just by the clothes they wear but also by the accessories they put on to complement the dressing. Bead and wirework making is one of the most lucrative small businesses these days.

People rock beads or handmade necklaces all the time especially to ceremonies, many ladies even wear waist beads mostly to check their weight or for fashion. So, every lady and even guys in your vicinity is a potential customer already.

Fish farming

Fish farming like poultry is another profitable business you can start at home. The demand for fish is high and not only will you be rearing the fishes for others, but you also will be the supplier of fishes in your meals.

You start by building fish ponds, tap or concrete lake, fertilizing the lake. Then put the fingerlings in the habitable pond water, and feed them until they’re mature enough for selling.

Tip: Catfish farming is the most common fish farming in Nigeria.

You can start this business on a small-scale with as little as N50,000 by setting up your own fish pond using a 1000 litres open plastic container.

Dropshipping

Dropshipping is another business you can start and run from your home. How it works is you set up an online platform where you advertise products.

These products are sold by a third-party.

When someone places an order for any of the products, you purchase the item from a third-party and have it shipped directly to the customer.

Conclusion

Of course, the businesses discussed so far are not the only ones you can do from your home. There are a host of others and all you need is determination, the right business thinking and getting started.

You can choose from any of the above mentioned and start helping yourself either as a side hustle or a full-time business.

Alternatively, see how to make money online from anywhere, from things like blogging, social media, affiliate marketing, etc.

Have question or comment? Drop them in the comment box below.

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