Are you a fresh or unemployed graduate thinking of which business to start? There are lucrative small businesses that could earn you money, as the job market is highly competitive. Even if you’re perfectly qualified for a position, there is no guarantee that you will get it. Instead of waiting around for your dream job, you may also consider trying your hands at one of the many business opportunities available. If you’re a graduate looking to start a business, you may consider the following business ideas.
Here are 15 lucrative small businesses you could venture into.
As a University graduate, there are chances that you are particularly good in one or two subjects. You will make a lot of money by offering to teach others who are having problems with those subjects. To start a tutoring business, one necessity you must possess is passion. You must love teaching to see tutoring as a less stressful and interesting job. You could also be an online tutor as there are websites that offer such services. A tutor earns about N50, 000 to N120, 000 a month
Graphics Arts Design Services:
If you have a passion for creative design and you are very good at it, you can start a graphic design business. You can offer your services to those who want to beautify their research, reports, and presentations. You can also make an additional income by designing banners and flyers for events and business advertising as well as designing creative greeting and invitation cards for parties and events. Do you have what it takes to help others become professional graphic designers? Ask yourself this question before you take the bold step. A graphic designer earns in the range of N100, 000-N150, 000 or higher as the business grows.
Personal fitness trainer:
There is increasing global awareness of the multiple health benefits of keeping fit. Most people are not doing this because of time, while some see going to the gym as tedious and stressful, and would gladly pay a fitness trainer to work with them in their homes. Personal training services are enjoying great demand because they provide a convenient way for people to get one-on-one fitness training. A fitness trainer can coach you online or come to your home. In both ways, a fitness trainer earns about N15,000- 30,000 per individual for an agreed number of sessions per month. Fitness coaches for celebrities make more money than this. So the better your training skill, the more sought after you are.
You can start rendering your services as a hairstylist or professional barber. Everyone loves to look good, and good hair care is one of the factors that can improve one’s overall appearance. You would make cool cash off your neighbor and friends by starting this business. A hair or barbing saloon business is just one of the sub-sectors of the fashion and beauty care industry. Fashion is never static; it is an ever-changing industry. When it comes to fashion, hair, and beauty, the trend is the name of the game. A part-time hairstylist earns about N5, 000- N10, 000 per individual. A full-time hairstylist earns about N20,000- N50,000 per month. No good barber charges less than N500 per cut. Imagine having 15 customers per week, which is potentially 37,500 per week.
Virtual Assistance services:
A lot of busy professionals would not mind getting extra help reading their emails, responding to inquiries, and organizing meetings and tasks. For some, the extra help comes in the form of a secretary or personal assistant. But the recent lockdown has more and more people considering virtual options such as a virtual assistant that would work from home. You can become a virtual assistant and offer such services as long as you have a computer and an excellent internet connection. The potential income range is N50,000-N250,000
If you can drive and have access to a vehicle, you can venture into providing transport services. Everyone needs transportation to and from their destinations, especially those without a vehicle. Most people do not like public transport and would want to book a private ride. Transportation is one of the oldest businesses in the world and cannot go extinct because people will always need to move around. A rideshare driver earns in the range of N50, 000-N120, 000 per week, depending on the number of hours dedicated to it each week.
You can make money as a part-time chef or by making pre-packaged meals for sale. Food is one thing that will never cease to be in demand as long as people are in existence, which leads to the consistent demand for food. One of the greatest advantages of this business is that it is mobile, and you tend to sell faster because you are taking the food right to the doorsteps of your customers. Income range: N20,000-N70,000 per month.
If you do not have money or time to go to a professional sewing school, then you can look for free or affordable sewing courses online that will help. Tailoring is one business that brings good money, especially if you’re good at it. The estimated income range for a tailor is N10,000- N30,000 per month as a starter.
Buying and selling online:
This has become one of the big money spinners in the digital age. The challenge comes in offering something unique that stands out from other products in the marketplace. You can also post photos of products online with product descriptions to make it easier for people to choose and purchase. A starter earns about N10,000- N30,000 monthly.
An affiliate marketer promotes the products and services of other companies, and by so doing, earns a commission from sales made. You will need a good knowledge of web marketing, copywriting, and pay-per-click marketing. You can also write and post blogs of places you have been to as well as posting product reviews. The estimate range an affiliate marketer can earn is N100,000- N 2,000,000 monthly.
Photography and Videography:
You could start making money from shooting weddings, parties, and events. You do not need a popular or even the most expensive camera or high-priced attachments and equipment to become a photographer and start making money from it. A simple camera will suit the purpose perfectly. The photography business makes between N150,000- N300,000 depending on the number of jobs. A starter earns about N30,000-N60,000 monthly. Videography makes an estimated range of N20,000- N500,000.
Many people, especially youths, love parties, so you can make decent money if you know how to get the best deejays and party people to events. You can also organize shows for celebrity singers and entertainers. A starter earns about N20,000- N40,000 per party/month. A major party promoter earns about N2,000,000- N4,000,000 per month.
Dance and music classes:
If you’re good at dancing or play any musical instrument well, you could become a music or dance instructor. Entrepreneurs who have built their businesses around entertainment can attest that this is a booming industry. Entertainment TV shows, beauty pageants, award shows, etc. can be widely watched all over the world just like soccer. The estimated income range for a dancer is N50,000- N150,000 monthly. A musical instrument instructor makes about N30,000- N50,000 per person.
Property searching services:
You could offer this service to people looking for accommodation, land, or any type of property. You need to search for vacant houses and list them on your website for easy reach and contact since we are in a digital era. However, you’ll need to create awareness for your website by printing flyers and telling as many people as you can. About 82% of properties are sold through real estate agents and brokers, so this is a huge opportunity. A property agent gets 10% of the amount paid for a property. For example, if you rent a house that’s about N450,000 per annum, the agent gets N45,000 (10%) of the sum as the middleman.
Building mobile applications:
Many businesses and individuals are hiring people to build mobile applications for them. If you have programming skills, you can build mobile apps and publish them. Developing an app ranges from N350,000- N1,000,000 per app.
These and many more are lucrative businesses you can start instead of waiting for a job to become available. Build and learn a skill to become the next CEO. After you’ve chosen a skill and acquired it, use a good marketing strategy to advertise your skill, and watch as your business grows.