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Tuesday, March 20, 2012

5 Small Business Ideas in Nigeria with little Start-up Capital

There are many small businesses one can start in Nigeria for less than N100k and the list can run into hundreds and possibly thousands but for anyone looking to make a start, I will recommend these 5 ideas. They are not too hard to set up and offer some really cool money making opportunities.

Blogging

While you are not guaranteed millions of naira from blogging in a short time, you can certainly make a lot of money over time usually in small amounts coming every few days, then weeks, then months and so on. Some people make just under a few thousands a month, some tens of thousands a month while others might make hundreds of thousands. It depends on so many factors but the main ones are; niche, amount of traffic and level of competition. But blogging is one business you can start today in Nigeria for less than N100k

Laptop Business

There are many opportunities within this niche for one to make money. You can be involved in buying and selling laptops, accessories, parts or even repairs of laptops.

Travel and Tour services

In big cities all over the world many people travel for leisure and business, but not every one of them has knowledge and information about how to find great travel arrangements that will save them money or time. That leads to an opportunity to be a travel agent, supplying services to potential travelers and making some really cool commission for one self in the process.

Boutique Business

Selling clothes will never die as a business. People who understand the clothing industry and make every effort to bridge the gap between needs and supply in Nigeria are going to make some really cool money for themselves eventually.

Lunch delivery

In big offices and commercial areas people must have lunch during office hours. Not everybody can go to fast foods and most people only go to roadside eateries for lunch for lack of better. Beating the competition to it can really make a difference by providing a middle ground, make your food cheaper than fast foods but of high quality. 

Saturday, March 10, 2012

Start a Digital Photography Business in Nigeria

A digital photography business is one which involves the commercial taking of pictures and photo shots for different people. Such shots could include passport photos, full length photos and portraits among others.
This business as an SME business is especially suitable for people seeking part time income such as students, workers who do not earn much or small scale businessmen looking to spread their tentacles.

For as little as N 15,000 one can start a digital photography business taking shots of people at social events such as weddings, parties, conferences among other social gatherings or in very busy places such as universities and other institutions of higher learning or in commercial areas like business districts of the Lagos metropolis (Yaba especially Tejuosho, CMS, Ikeja among others).

Equipments needed for a digital photography business include;

1. A digital Camera or maybe two or more possibly
2. A printer
3. A photo studio
4. One or two computers
5. Lighting sets
6. Other studio equipments

Note that you do not need all these to start except the digital camera which must be of good quality. You could be flexible about the business if you have little funds charging customers the fees for snapping them but going elsewhere to print your shots if you do not have the resources to start with all the equipments.

Hiring workers

As a small start up entrepreneur you could be your only employee, however if you which to combine your full time job with this business you may need to employ a clerk who of course should be trust worthy. Ideal candidates for this job would be young school leavers seeking to occupy themselves with work. Salary range could be N 10,000 to N 20,000 monthly.

Labour requirement is not stringent as a clerk who doubles as an assistant and apprentice can be employed to serve or attend to customers in your absence although more hands might become necessary as the business grows.

Challenges faced in this business

Like all businesses that run on electricity, the poor state of electricity supply is a major challenge any person thinking of doing this business will face. The use of generators is a must if you are going to run the business especially when you have many orders to contend with. Another problem might also be location as most digital photography businesses that do well are usually situated in easy to locate and accessible places where a lot of first time customers can work in for their jobs. Getting to pay rent in such places isn’t mean stuff.

Opportunities in this business

Many businesses have brands that need promotion. The digital revolution has also ensured that nobody considers using the cameras of the 1980s and 90s. People want to look better than their real selves and one way to do this is to improve on the quality of photos with hi definition digital cameras. Also there will always be the need to submit documents for official purposes hence people would naturally want to upload or print their pictures.

Learning the basics about the business

1. Ensure that you have great picture taking skills. Customers will certainly mess you up if you render them poor services.
2. Service delivery is king in this business as many obscure photography businesses are thriving thanks to the effect of word of mouth and referrals from satisfied customers.
3. Where and when to get new photo materials must be clearly noted because failure to do this might mean running behind schedule on jobs given to you.
4. You could find out more about this business when you research into the

opportunities and requirements.

In conclusion digital photography although not offering the same opportunities as more lucrative SME ventures can be a stepping stone towards other related businesses that offer bigger and more promising rewards.

How to make money in Nigeria - Writing Articles

I often come across questions by people who want to know how they can make money online in Nigeria by writing articles on some Nigerian websites. Many people would want to have this information for various reasons; job seekers who want to have a source of income, workers looking for an additional source of income and writers looking for new ways to improve their profession.

One thing I must say is that it is not a get rich quick scheme and so don’t expect to make a lot of money overnight. Secondly, if you are a poor writer don’t waste your time trying to make income from writing because your work will be flagged. Thirdly let me also say that people with a doubtful mindset towards making money online have already failed even before they set out.

Now to the gist of this article, I have been writing online since 2009 and although I was aware of making money by writing articles online but back then I wasn’t doing it to make money and even if I wanted to I still had poor knowledge of what to do. Now the situation is different, I make money writing articles and it is on a part time basis.

Let me set the ball rolling. I have been a member since 2009 of Hubpages. In case you don't know Hubpages is a revenue sharing website that uses adsense, amazon and its own in house ad program to display contextual adverts on every published webpage on its site under a 60-40 sharing formula. Members will have their webpages displayed 60% of the time with adsense or other adverting programs bearing their accounts with the remaining 40% going to hubpages. The main advantage with hubpages is that it is regarded by search engines as an authority website and for that reason webpages can easily be indexed by search engines.

Another place to write for money is elance, although I am new to it, elance offers a highly competitive writing environment both for writers and clients who have to bid for contracts. Income generated from here varies from $5 per article to any amount the client can afford to pay. There are different other arrangements by which one can make money such as being paid per word or per hour. The choice is really between client and writer. The website owners charge a commission on every deal and there is no contextual advertisement like adsense or others.

Also blogging is another way to make money online from writing articles in Nigeria. In Nigeria, the most common and most affordable way to blog is to use google’s blogger program just as you can see with this blog. It offers users a chance to build web traffic and monetize that traffic thereby making money from contextual advertising which is what I do on this blog as one of my income streams.

Finally, the art of money making is not a day’s job. It needs time to mature and of course wisdom to make it but when it starts happening, it can be a fulfilling experience.

To learn more about websites that pay good money to Nigerian writers, how to get started and more contact me (paulonwueme@gmail.com, 0803 206 4106, BB Pin: 235AB9BC)

Wednesday, March 7, 2012

5 Small Home Business Ideas in Nigeria

For people who have retired from work and are looking for something to do for a living or unemployed people in search of business ideas and opportunities, obviously there are many advantages of having a small home business and here are 5 simple small home business ideas they can pursue in Nigeria to make ends meet.

Selling Recharge Cards

This is probably the most common and preferred business ideas many people can start from home. If you happen to live in a big and busy neighbourhood you could start selling recharge cards for a living from home. Sales margin is low but volume sales is common in this line of business. For every say N10,000 sale you make, your cut may be N500 or N600 depending on the denomination and network. That means if you sell say N30,000 you will be making let’s say N1800 per day.

Tailoring

This is a simple business to handle from home and it is profitable as well since you are most likely to be paid for your time and effort or skill. Just a simple sowing machine and tailoring skills are all you need to start.

Selling Ice blocks and Soft drinks

I know a housewife who makes a living by selling iceblocks and soft drinks to people who go and hawk them. She is making some really nice money from it because she sells from home and does not incur any overhead costs.

Home Made Snacks

How about selling some home made snacks and cookies to supermarkets and small shops in your area. This is just a starting point. You could make as much as N50,000 sometimes even more in a month.

Hair dressing

This is especially possible if you live in an estate where the females dread going to the expensive salon down town.