Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos – Related to Lucrative Business Ideas Suitable for Lagos Territory are; Profitable business ideas for Lagos, small scale business ideas in Lagos, hot business in Lagos, lucrative business to start in Lagos, fast growing businesses in Lagos, transportation business in Lagos. Here are Profitable Business Ideas Suitable for Lagos Territory.
As a matter of fact, my research revealed that a lot of you left your towns and villages and relocated to Lagos for greener pastures, yet you find it difficult to make up your mind on which line of business to take up or a combination of business lines to take up. This article is aimed at highlighting to you what and which businesses that are viable in the Lagos Territory Nigeria. Click here
Profitable Business Ideas Suitable for Lagos Territory
Table of Contents
As a Business Man/Woman: What you should know about Lagos.
Logos is a state and a city located in the south western geopolitical zone of Nigeria. Lagos is both a city and a state and of the same name – Lagos. As a state it has 20 local government areas. By population, it’s the largest city in Nigeria, and the largest in African and by that becomes one of the fastest growing cities in the world. The city is made up two major area components; Lagos Island and Lagos Mainland.
Lagos Mainland is where over 60% of the residents live. It’s the cheapest part of Lagos suitable for profitable businesses. That is where the normal hustle and bustle business activities flourish, with a high level concentration of fun activities that keep life going well. Towns here include, Ebute-Meta, Surulere, Yaba and Ikeja the state Capital. Ikeja is better planned than other parts of the mainland.
Lagos Island is an upscale part of Lagos city where the timbers and calibres and the political juggernauts in Nigeria like to live. Towns here include Lekki, Banana Island, Victoria Garden City and others.
The composition of Lagos is that of a cosmopolitan city with so many urban and rural sub-urban cities. This is why many business ideas are listed here.
Over 200 Business Ideas for Lagos
Why did I go this length to describe this city?
I have done this to elucidate and arouse your interest in Lagos and what it can offer as a commercial city. Lagos is Nicknamed centre of Excellence. That is to say, a place where people do well in live. If you want to do well here, read through all I have put in this post and you will be an excellent man/woman.
As a matter of fact, class differences also generate types of businesses and in fact differential prising. So make your choice in business location and type of business.
Some of the businesses require low capital while others require large sum for capital. Part of the need for capital is also determined by whether you want to be a retailer, wholesaler, distributor or just a business agent. As we noted above, the part of Lagos where you laate your business also influences the level of business inputs and outputs. Covered in this study are also businesses for importers, exporters, clearing agents, manufacturers’ representative, and foreign company agents.
Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos
(1) Real Estate
Land is expensive in many parts of Lagos especially in the Island, cost of building is also high, therefore, house/office rent is high in Lagos generally.
Because of these, land or property owners make a lot of money from the sale of their houses, shops and undeveloped land. So if today you acquire whatever real estate you can, you could sell in future or make use of.
Now related to this one compound business idea is a whole lot of other businesses – House Agency, Estate Management Services, Estate Consultants, Estate service providers, estate builders , and more.
Building Material Sales- Considering the level of real estate development going on in all parts of Lagos, selling building materials is also a very good business.
(2) Auto dealership
Everybody knows that with the population and level of business activities in Lagos, residents of Lagos have one of the highest disposable income in the country. Nearly everybody in Lagos has a car.
Lagos is sea logged with all the Nigeria’s operating sea ports. These ports feed the auto dealers shops. This means auto-dealer business is good in Lagos. Automobiles include cars, Power bikes and the
likes.
Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos
If you have the capital why not join this business. You will require an average of N300,000,000 to start this business in Lagos.
(3) Construction
Lagos is the old Federal capital of Nigeria. This gave rise to concentration of government agencies and private companies in Lagos. Consequently, residential, office and commercial housing estates are always being constructed. Therefore, the construction industry is a key sector to invest in Lagos up till now.
These are in addition to the infrastructure – road expansions – construction work which the Government carries on all the time.
Complete Full Marks Consultants Limited will help you incorporate your construction company in 7 days. Click here to contact it or e-mail to [email protected]
(4) Merchandise
Buying and selling of tangible goods, consumables and non-consumables is common in every street and corner of Lagos. In addition are many malls, plazas and local daily and weekly markets that support the flourishing retail sector by providing business owners with the choice locations to market their goods. The idea here is that you have good and enough places to market your wares on daily basis. Among these merchandise are:
Fruit Marts – This is a big business here as many people patronise these dealers. The health knowledge about fruit these days promotes this market.
Grocery – As you know, people must eat. This business is lucrative – all food stuff. I know of many women who only come to the road junctions by 5.00pm every day to sell their wares and they still do well.
Shoes Retail shops – Everybody tends to have shoes now unlike the Nigeria former president’s childhood days. With the population of Lagos everywhere is market. So you can sell in front of your house or rent a shop or join one of the markets around.
Hair Care Products – You know it that looking look is a good business, especially in Lagos and other big towns where girls fake a lot of their personalities.
Tailoring Materials shops – Fashion design is the order of the day and all of that is being done with tailoring materials. You can start small or big depending on your capital.
Cosmetics shops – This is among the beauty business, looking good. The business is doing well here. The fact that has remained constant in our survey is that everywhere is market in Lagos including the frontage of your home.
As a matter of fact, what I’m saying is that these businesses flourish so much in Lagos. You can start one today. Make it a retail, wholesale or distributive business, you will make it.
(5) Corporate Event Management/Planning Services
Many events take place in Lagos on a daily or even weekly basis – wedding ceremonies both traditional and English, naming ceremonies, title taking ceremonies, Official functions, receptions, seminars etc. This means that renting out event spaces like halls, gardens or parks is a lucrative business.
You would notice about three types of business here – the ownership of these event spaces, the management of these event spaces, event planning, consultants and other associated service providers. You can get a niche out of these and invest here.
(6) Hotels and guest houses
People travel from all over Nigeria and the whole world to Lagos and transact business with the Federal government, Lagos State Government, corporate organisations and individuals and must stay somewhere for their short stay. A territory like Lagos requires a variety of hotels, guest houses, Inns etc. for the visitors.
Lagos of today offers variety of accommodation options ranging from the Boutique hotel, guest houses to cheap hotel-motels. Yet more are needed.
Profitable Business Ideas Suitable for Lagos Territory
(7) Restaurants and Bars:
Lagos’s hospitality industry is booming now.
In this business are included the following:
- Snacks Shops – cakes, meat pies etc and drinks.
- Fast food joints – smoked fish joints, Suya joints, tea/coffee joints etc.
- Soft Drink Retail business – retail and wholesale, plus a combination in fast food joints
- Beverage Retail business – Wines, cocktails, class denoted wines etc.
- Garden Bars – Provides assorted items amongst these listed above. Just a combination of many.
Yea! You can start yours this year. Find location, rent or lease and develop, use and make money.
(8) Interior Decoration
Most hotels, residential buildings, offices and restaurants in Lagos are interior designed and decorated by interior decorators to look classy. So you can join this class of business men and women. Associated with this are:
- Suppliers of Bed Sheets, duvet etc. – this could be a line of business for somebody. Supplying to Estate managers, hotels and households etc.
- Window blinds – another element of interior decoration for office, hotels and other.
- Furniture – Chairs, tables, cabinets etc. are all part of interior beauty.
- Others. – Electrical fittings and fancies, artifacts etc. are all part of the interior decoration business.
These are some of the business lines you can start right ahead.
Over 200 Business Ideas for Lagos
(9) Security installations and related Services
Big organisations – public and private need security protection for live, and property.
With the population of Lagos, we know that the public security provisions are not enough. So, there are a lot of private security outfits in this city. Yet, they are not enough.
I see many retired security officers from the Army, Police and other paramilitary organisations looking for what to do.
Legalise Your Business:
Take these steps to legalise your new business or regularise your existing businesses.
DO YOUR
CAC DOCUMENTATIONS
CAC DOCUMENTATIONS
SPCIFICATIONS
FOR NEW & EXISTING ORGANISATIONS
FOR NEW & EXISTING ORGANISATIONS
|
NAME
SEARCH AND RESERVATION |
NEW
COMPANIES AND ENTERPRISES |
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INCORPORATION
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NEW
COMPANIES, INCORPORATED TRUSTEES – NGO, CLUBS, CHURCHES, MEETINGS AND ASSSOCIATIONS. |
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REGISTRATION
OF BUSINESS NAME |
NEW
BUSINESS NAMES, ENTERPRISES AND PARTNERSHIPS |
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DOMESTICATION
OF FOREIGN COMPANIES |
FOR OLD
AND NEW FOREIGN COMPANIES |
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POST
INCORPORATION DOCUMENTATIONS |
(1)FILLING
OF ANNUAL RETURNS FOR ALL ENTITIES – PRIVATE, PUBLIC (PLC) ETC (2) CHANGE
OF DIRECTORS, TRUSTEES, PARTNERS, SECRETARIES ETC, (3)CHANGE
IN SHARE HOLDING RATIOS, (4) CHNGE
IN REGISTERED ADDRESS, (5) CHANGE OF NAME, (6)CHANGE
IN AUTHORISED SHARE CAPITAL, (7) CHANGE
IN MEMORANDUM AND ARTILE OF ASSOCIATIONS, (8) CHANGE IN NGO/CLUB/CHURCHES CONSTITUTIONS,
(9) LIQUIDATION
PROCESSES, (10) CONVERSION
FROM LIMITED CO, PLC, UNLIMITED CO. TO ANY OTHER TYPE, (11)
REPLACEMENT OF LOST DOCMENTS – CERTIFIED TRU COPY |
(10) Tourism Related businesses:
Lagos can boast of possession of about 60% of Nigeria’s tourist attractions ranging from antiquities, to current designed recreation centres. Remember the ancient city of Badagri, the atlantic Bar Beach and all it holds.
These are to care for all who visit Lagos and its environs. Such businesses that will take such care include:
- Travel Agency Business: There is an international airport here, so you get engaged on all the services of the travel agents which include securing and reservation of air tickets. Visit karisa Travel Agency Limited for your travel and tours services.
- Car Hire/shuttle and hotel reservation Services are some of such services
- Tourists Errand Services – These are those who help tourist find their ways. Inluded are freelance travel agents.
Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos
(11) Family Care/Cottage Businesses
These type of businesses take care of the families or are done in the family premises;
Mother and father leave house so early and come back late, and are worn out for the day. They will need you to:
- Provide Private Tutoring for their young school children
- Baby sitter/Nanny – are also needed.
- House Keeping: Related to the above is house keeping business. This can be full time or part time as long as you are above 18 years of age.
- Cleaning Services – residential or at commercial places including corporate and government office.
- Cooking Services – privately or corporately. So you can cook for families or cook for occasions, events and be paid for your services.
(12) ICT Businesses
Everything today is electronically done or what is call e-product/e-services. Just get involved in one by undergoing a training.
- Car Tracking Services – is an e-service outfit. In a big town like this a lot of car theft go on now and then. Car tracker will help you recover your car.
- Computer Sales, Installation & Repairs – This will also include computer accessories. Computer, whether a desktop, laptop or tablet is prone to break-downs and damages sometimes or due for replacement due to technology change or design.
- Mobile phone and accessories – you know that these do a lot of e-transactions and communications. Everybody and every job is now on e-transactions. My dear join one.
- Call Recharge Cards – associated with all e-services is this which will translate into communication call units or data units. You can produce, wholesale or resale. Population is the market. There is market here for it.
(13) Fashion and Beauty Businesses:
Spa & Beauty Services-: You can also start your own spa or beauty parlour where people can get a massage and relax after the days labour.
Fashion Design – This is part of beauty business. If you know how to design with local fabrics in a big town like this, you will soon be a millionaire.
Included here, even though may have been classified somewhere else are hair care salon shops and products, Perfume business, boutiques business etc.
Profitable Business Ideas Suitable for Lagos Territory – (14) Consultancy Services:
- Data & Statistical Services – This is a special type of consultancy services. This is a service for conducting researches, surveys and interviews for ministries, agencies and companies. A large city like Lagos would need so many consultants like this.
- Become a Business Plan Writer – Many business persons know the importance of writing a business plan before starting any business. You can start a business plan writing business for investors who want to borrow from the bank or other financial institutions.
- Foreign Language Teacher – A special skilled job. If you can teach a foreign language there is nothing stopping you from starting a foreign language coaching class even beside your resident. There are also many expatriates in Lagos that wouldn’t mind paying you to teach them some of the Nigerian languages to enhance their better communication.
- Public Relation Agency – You can also start a public relations agency business. You will be serving as a spokesman or image maker for companies and even politicians.
(15) Sports Related Businesses
- Viewing Centre or Sports Lounge – As a Smart investor you can spice up your sports lounge where people can come and watch football matches and relax with their friends at the same time. A good business, if you combine it with some element of Wine bar.
- Politics (Adverts, Campaign Manager & Image Consultant) – You can start this for electoral period which is just around the corner You can help politicians organize campaigns and rallies or even act as an image consultant to help boost the profile of political candidates.
Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos
(16) Academic Businesses
There are many opportunities here.
- Open a School: Primary or Secondary is a good market here. With good location and efficient teachers and administration, your school will grow to an international standard very soon.
- Crèche/ Daycare -: If you can not afford a full school scheme as described above with a crèche attached, you can start child day-care centre where parents can keep their children while they are at work.
- Book shops – Make it big or small. You can start by selling to your pupils and students and grow from there.
- Children Education materials – This is a special segment of the bookshop business. These are materials associated with children training, eg. Play toys, drawing materials, pictures etc.
Profitable Business Ideas Suitable for Lagos Territory – (17) General Services/Businesses:
Check out these opportunities too.
- Dry Cleaning – Some people work 24/7 for 30 days of the month, and as such can’t take care of their laundry. This is why dry cleaning services are one of the trending businesses in Nigeria right now. If you can spice your own dry cleaning service a little bit by offering home/office pick-up and delivery services to your clients, you will wine a big market share in this service industry.
- Firewood/Charcoal business – In the families, these come handy when cooking gas and kerosene become very scarce. It’s commonly a business in the sub-burb towns.
- Gift Shops – Gifts distribute happiness. You will be distributing happiness trading on gift item.
- Newspaper Vendor Business – Be a vendor of regular newspaper or special publications like sports magazines or religious publications.
- Music and Video Shops – These shops assist people with current and modern music and films. In a high density populated town like Lagos, this business will flourish very well especially among the youth.
(18) Health Related Businesses:
There are three aspect you can take up here.
- Private Hospital – With due certifications and adequate professionals in place you can start a hospital here. The population is growing yearly, and so the demand of health facilities, especially where as we all know the public health facilities are not always sufficient.
- Medical Stores – Please I don’t mean patent medicine store. If that is what you like, you can go ahead, I know that I will never patronise you. I mean medical store manned by trained medical personnel. It’s really a big market here, with the growth of the town especially in all the local government areas of Lagos state.
- A Pharmacy – Retail or wholesale is very good here. I see a lot of pharmacists who now own their pharmaceutical stores and they are doing well.
(19) Baby Care Businesses:
I just want to create this as a different group of business notwithstanding that they could be added to some of the groups already discussed. I’m doing this to give them the prominence they require.
- Baby Care Wares: These range from Napkins, Baby Oil, Baby Foods, Baby Soap, to Diapers. Others include, Baby Beddings – Baby Pillows and Baby Mattress, Baby Furniture -Baby Cot, Baby Crib, Baby Gear- Baby Walkers, Baby Cradle, Feeding Set – Baby Feeding Bottle and Baby Bib – a big business for pregnant and nursing mothers.
- Children Play Toy Business – these are type of toys that children use both at school and at home. It’s a good business trading on these.
Profitable Business Ideas Suitable for Lagos Territory/Over 200 Business Ideas for Lagos
(20) Lagos Oriented Type of Businesses:
The peculiarity of Lagos due to its population and nearness to see shore has given rise to some of these type of services I have classified here.
- Tokumbo Goods from the Wharf – imported second hand house wares, kitchen wares, electronics etc. are bought from the wharf in bulk at take-away prises. Some of them repaired while some are on buy and repair. I know those who have trained their families from this business.
- Import/Export Businesses – It’s simple to learn and join this business just because you are living in Lagos and see people who do these things. If you have this dream, with little academic knowledge you could begin this business. We can help you make contacts.
- Clearing Agent – this is a big business anywhere there is a sea port, and Lagos is not an exception. Just like the Import and export business above, you can become one today if you want.
- Transportation Service – I make this peculiar because of the population of Lagos and the level of business activities in it. Bus drivers, Bus conducting, taxi driving and shuttle buses/cars are big businesses in Lagos unlike in other cities of Nigeria. You may decide to join one today. I don’t like talking about bike riders and tricycle (Keke) driving business. Suite yourself.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
