10 Lucrative Online Business Ideas in Nigeria
You’re probably wondering what the fuss is about lucrative online business ideas? Why is everyone talking about doing business online? Well, here’s something to hold onto. Online business ideas come with several amazing advantages to SMEs.
To be honest, this era is the easiest there has ever been to run a business. This is because the internet has provided us with amazing tools at our disposal to facilitate business. In this post, we will discuss ten lucrative online business ideas that you can take up in Nigeria. Before that, here are some reasons why you should run an online business.
Why run an online business?
If you are used to the idea of brick-and-mortar, then the idea of taking a business online may not appeal to you. However, when you consider the benefits that accrue from online business, you will quickly make the switch.
Low startup cost
You don’t need a huge fortune to kick start your online business. The idea is to begin small and grow the business. Several pieces of tech will help you get the work done cheaper and faster. Asides from being cheap to startup and run, the ROI is always on the high side.
One of the major contributors to the high cost of starting up brick-and-mortar businesses is location. With online businesses, this isn’t an issue as your real estate is online. This means that you can scale up your business very quickly without bothering about expanding a physical structure. When you run an online business, you are not restricted to a certain location. Your reach extends to the rest of the world.
Many people want to start businesses but don’t have the time because they are committed to a 9 – 5 job. With an online business, this is the least of your worries. It gives you so much time on your hands to do many other things. Wouldn’t you just love the idea of waking up or hanging out anytime you want to?
Lucrative online business ideas in Nigeria
By now, you must be itching to know what lucrative online business ideas exist in Nigeria. Allow us to fuel your passion with a few interesting and profitable ideas you can consider.
You must have guessed this business will top our list. Why shouldn’t it? Blogging is a great idea if you love to put your thoughts down in black and white.
The good news here is that you can blog about anything. Make sure that you write to suit your audience and not yourself. Monetise your blog and find several ways to promote your content like social media. The more you can connect to your audience, the more loyal they will be.
People hardly want to carry around printed material because they are too bulky. Many Nigerians have hundreds of e-books on smartphones and other devices. This is another lucrative online business idea for writers.
Even if you can’t write, you can learn to design and publish e-books. This way, you will still put yourself in line to make some cool cash. There are several platforms to market e-books, including Amazon.
One of the amazing things about this business is that you don’t need a dime to start. The whole idea revolves around promoting the products that other businesses sell. Simply sign up to get your affiliate link and publish it on different platforms.
When a person makes a purchase using your link, you get a commission. To get the best of this business, create some content around the products—post such content on social media and YouTube. Several big companies are seeking affiliate marketers for their products.
How can we discuss lucrative online business ideas without mentioning web design? Many businesses are moving online and need help with building websites. You can take advantage of this need to make some money.
Sign up to different freelance websites to publicize your services. You can bid for jobs from home and grow your web design business.
Social media marketing
As someone said, social media is the new oil. Companies need social media managers to help them run social media campaigns to boost their brands. This is where you come in.
You don’t have to do much. Simply understand how social media works and come up with strategies to boost brand awareness online.
Many people don’t understand the idea behind forex trading. But many people make a lot of money from the comfort of their homes through this means. All you need is a computer with an internet connection. Before you begin, learn the ropes from a successful trader. Soon, you’d be growing your income by trading forex.
Vlogging is the same as blogging only with videos instead of articles. The most popular way to vlog is to run a YouTube channel. Do you know that you can make thousands of dollars each year through this means? Simply choose your niche and grow your number of subscribers. Consistency is critical as with other lucrative online business ideas.
You must be wondering how it is possible to be a fitness instructor online. It’s pretty simple. If you are a fitness buff, start a page teaching about fitness and provide fitness routines to your followers. You can even schedule weekly or daily live sessions. Soon, you’d be consulting for top shots who need a fitness trainer.
Mobile app design
In the same way, website design is becoming popular; mobile app design is also stealing the market. So many people make use of smartphones these days. Logically, businesses are seeking developers to create apps for their businesses. You can become their plug while growing your revenue.
Become an influencer
We sure can’t discuss lucrative online business ideas in Nigeria without mentioning this idea. There are influencers on different platforms, and you can become one. Choose a niche and start to produce content in this regard. With consistency, you’d grow your audience, and then the big companies will come for you. Soon, you’d be earning in six and seven figures from posting ads on your page.
These are just a few lucrative online business ideas in Nigeria. What ideas do you think we left out? Share them with us in the comments section.