Finding exactly what to buy and sell is one of the first problems that many would-be entrepreneurs encounter in their quest to find a means to make money through trading..
A lot of people will say money is the first problem to start a business, but as much as money is key, getting the idea of the right thing that sells and would always sell is much more important.
There are lots of people with thousands of naira in their accounts today, who are constantly going online to see, what exactly they can do with the money, so getting the right product or service that is needed is the first hurdle to cross when searching for a good business.
By putting the environmental factors, the Political, and sociocultural norms in a business environment into consideration, here are 5 things that will always sell in Nigeria, come what may.
1. Food: As a student back then, once I withdraw my monthly stipends from banks, the very first thing I do is to head to the market to stock my food buckets, and there are thousands of people like me around the country, who do that weekly or monthly, once they get any money or collect Salaries.
- Food is unarguably the no 1 basic necessity of life. It is the real fuel that drives existence and has become what no one can do without.
It doesn’t want to understand that there is recession in town or you’re broke. You either borrow to get food to eat or you beg.
There is no just anyway you will boycott buying foods except one who is ready to die of hunger, and as such, food remains world no 1 thing, that humans and animals think about each day.
Going into food related businesses is sure a right way to go. And you can never go wrong with one. READ MORE ABOUT FOOD BUSINESS HERE
Just study your environment, know exactly what kind of food services you can provide and you will continue being relevant in the area.
Examples of food related services are as follows.
- Raw foodstuff Retailing in Neighborhood or Market – Look for Farmers that are willing to sell their Agro products and take them to places where these food commodities are highly needed or scarce. E.g Buying Yam from Benue or Niger State and transporting them to Lagos to resell. No matter how small, you will see little gains.
- Cooked food Vendor for schools, factories, or on streets. As long as people move around and population keep increasing, you may be in this business for decades, doing well. I have friends whose mothers are food vendors that were always first to pay school fees and enjoy better care than many. Others are Manufacturing of food and beverages, pure water factory, frozen foods, selling and grinding of pepper, selling vegetables, palmoil retailing, daily needs food grocery store, retailing packaged brand food items, selling of fruits and beverages etc.
The most interesting thing about all of the above food businesses is that you can start some with just N50,000 and others with N300,000. Think about this, do your research and go for it.
2. Health Related Products: Health they say, is wealth. It is wealth to the healthy and also to the one providing healthy services. Everyday, there are millions of people globally searching for the right drugs or health related products to put them back into shape or let them forget their health worries.
This put Healthcare industry one one of the most patronized industries after food.
We are in world where a lot of things are threatening our existence on this space called Earth, and many people wouldn’t mind spending their last kobo to ensure they get healed, hence health business is growing hugely.
From tablets to body fitness products, to cream for skin problems to tons of herbs products for sexual enhancements, people are making lots of thousands daily from the healthcare industry and you can be part of them too.
I know there are hundreds of people around us who will pay any amount to get the best weight reducing drug or tea, as I write.
Many have bought many that didn’t work. And If you know any one that works, then you are sure in money. Just keep advertising on social media and go to big places like campuses, religious centres, and show them testimonies from those who have used it and how they never stopped thanking you for being a life saver. You will sure have many willing to try yours.
Other products you can sell easily are those treatment herbs or drugs for Arthritis, Blood pressure – these are nightmare for many old folks.
Another is Pimples – oh this one can mess up your confidence and pretty face. As I write, some can spare N5000 to buy one cream that will heal every and they can become reseller.
Research today and know what works better and you will be rolling in money.
See this related post: How to make Small money Online in Nigeria – My Experience
3. Clothes: The Fashion industry is a big one, world over and it generates over a million dollars revenues to operators of those in the sector.
I once advertised some chiffon tops for my cousin on Nairland in 2016, from the bale of Okrika she bought and we had callers from as far as Bayelsa states, PH, Abuja who we sent all the choices to, from Lagos and even after moving to a bigger business, we still get calls almost weekly if those clothes are still available.
People change Jobs, and get office works daily, they are always in need of office clothes in numbers, you can be providing this service.
New born mothers are always buying clothes for their babies as they grow in sizes, you can specialize in this kind of clothes. You can sell new or fairly used.
Above all, Nigerians love partying, there is almost no weekend especially on Saturdays where more than 1000 guests are not putting on clothes they are just wearing for the first time.
There are many party uniform wears like Ankara, Lace in what Yoruba calls “And-Co or Aso Egbejoda”. A single fabric seller can supply all.
So, clothing business is indeed a lucrative one especially if you are well located and connected. After all everyone wants to look good.
4. Gadgets: Since the communication industry has been liberalized in Nigeria, that gave everyone access to having a phone, to communicate with others, and as such mobile phones have become one of those most patronized Items in Nigeria.
Everyday people get tired of their old phones because of adverts of a new Iphone this or that, or Androids that they see.
Some want another smaller phone.
Some people are too careless, they spoil their phones easily or get it lost, and because they can’t risk being blank, getting urgent replacement is the next option.
An Igbo business man came to my phone repairer friend one day, he was getting unease and started asking if the phone is repairable or not, or he should go and buy another one because he is already loosing some business deals because of the faulty phone.
That’s how important phones are to many people, if not all.
Today, even a jobless graduate will buy N50,000 worth of mobile phone and when it gets damaged, he or she will find means to beg uncles or parents to get a replacement.
Like phones, there are other gadgets especially phone accessories that people buy daily, such as headphones, chargers, USB cables, earpiece, bluetooth, casein, desktop chargers, etc. You can try selling phone accessories too.
Another popular gadget people use alot is laptop. Oh, Laptop selling is another cool business. You can buy 5 laptops at N50,000 each and sell one at N60,000. Making ten thousand on a unit product is such a cool business. All you need is marketing to the right people, especially students and office people. You can grow steadily in this business. I have made cool money here too. Check for the article in case you missed it
5. Housing Items: Everyday we all come from a home and get dispersed into the street in search of our daily breads and at dusks we are all heading home to keep our head, or to get some rest.
Home is part of man and no matter where how comfortable outside might be, there is always something that will be telling you that it is time to go home.
So, making a good home is the business of many. Everything you see in a building from construction to finishing shows businesses of lots of people.
Few things you can sell for home builders are; planks, roofing sheets, iron rods, cements, curtains, rugs, carpets, plumbing materials, furniture, kitchen utensils, gardening tools, electronics, etc.
And because people move from homes to homes, cities to cities, the need for most of these items is becoming an everyday thing, hence you will always have new buyers..
You can easily research more on any of this and begin your journey into the business world.
I hope this is a bit helpful?
For more business related issues like this, especially for study materials that explain these in details, contact us at Naijalocals for more.