20 Best Online Businesses in Nigeria and Their Profitability / How to Start
Online business has become one of the moving trains in today’s world. When you hit the phrase ‘online business’, on any of the search engines. You will find different ways that you can do business online.
But, we are more concerned with those online businesses that Nigerians can start and run without hitches.
With the shortage of jobs and a massive increase in the population of Nigeria. You can be sure that there will always be unemployment.
On the other side, there are many opportunities that you can tap from and start making money. This is why this article is written. It will help you to know some of these opportunities available at your disposal.
Do you need to register your online business?
There is no straight answer to this question because most of these businesses will be run from your home. This means you can start without officially registering your business.
But, to expand and enjoy some credibility with your clients and other businesses, you need to register your business. The Corporate Affairs Commission is the right place to go.
Top 20 Best Online Businesses in Nigeria and Their Profitability
Here are the online businesses. Kindly make your choice.
1. Professional Blogging
Blogging has become one of the easiest online businesses to start in Nigeria. This is because we practically leave in the information age. You can start a blog within 10 minutes. Grow its readership and start making money.
The basic thing about blogging business is for you to know your niche and patiently build readership around that niche.
Many successful bloggers today are making profits from their blogs. How much you make will be determined by how much you are ready to put into making your blog successful.
Remember this, the more readers your blog attracts, the more money you could make.
2. Freelance writing
Freelance writing is another easy online business that you can start right from your home. What you do as a freelance writer is to provide articles, blog posts, marketing copy, etc. to clients.
For you to succeed as a freelance writer, you need to develop your writing skills, market yourself to clients and get jobs from them.
To get started, you need a computer and access to the internet.
3. Freelance programming
Freelance services do not apply only to writers. Those who love to code programs can also provide their services to clients in exchange for money.
If you are a web designer, application developer, you can make a lot of money from freelancing your service. The amount you may make from your freelance programming business will depend on the complexity of the job at hand.
4. Selling products
The internet is open to anyone that has a good product to sell. You can start your e-commerce site. You can sell any product to customers directly.
Examples of things that you can sell on the internet include tangible products like clothes, wristwatches, and intangible products like images, tutorial lessons.
5. Managing social media profiles
If you are a social media expert, you can use this skill to manage the social media profiles of businesses and corporate individuals that may not have the time to do run their social media account.
This is lucrative because you are going to use your skills to promote their brands and market their company’s products or services.
If you are good at attracting readers on Facebook, Linked In, Twitter, etc. then you are good to go.
6. Virtual Assistance
A lot of companies need to provide support to their customers. While some may want to run it by themselves. You can provide this service for clients that may want to outsource this part of their business.
You can become an independent contractor to companies, helping them to run some administrative duties remotely.
7. Domain Reseller
This is one lucrative business that can make millions for you. A lot of companies, website owners that want to own a particular domain may reach out to you if you have registered the domain.
You can think of a domain name that has the potential of being sold, register it and then wait for buyers to come over.
It may shock you to know that some domains cost millions. This means that if you own a unique domain, you can sell it to any client that may want to use the domain.
8. Online tutoring
The internet created easy access to information. You can use it to start an online tutoring session. Your students will subscribe to your tutorials. The good part of it is that you can fully automate the process.
If you are an expert in math, physics, English, programming, etc. you can give tutorials to those that may be looking to learn the skills.
This can give you access to passive income in the long run.
9. Selling E-course/Webinar
E-course is another online business that you can start in Nigeria. If you are an expert in anything that may interest others to learn, then you can prepare a course guiding them on the steps to learn it.
The good side is that you only need a good laptop or desktop with a webcam and access to the internet to run this business.
It cost you less to nothing to start selling an e-course or webinar on the internet.
10. Selling Photos
Do you have a good camera and like taking pictures? Are you good at graphic design? You can get good photos and graphic design collections. Create a website for it and start selling the images.
If you do not want to own a website, there are popular photo selling platforms like Getty Image, Istock Photos, etc. that you can sell your images to.
11. Selling E-books
E-book selling is another lucrative online business that you can start in Nigeria. As people are now comfortable with buying e-books online, you can find a solution to problems and start selling this information in the form of e-books.
This can give you a passive income stream.
You should always remember that your e-book should solve a problem that the reader is looking for ways to solve.
When you have written the book, edited, and proofread it, then you can package it and start selling on your website or use an e-book selling platform like Amazon to sell your e-book.
12. Affiliate Marketing
Affiliate marketing business is another lucrative online business that can make money for you. A lot of businesses are ready to share part of their earnings with you if you would help them to get more clients and customers.
Affiliate marketing can be run on your website, blog, social media accounts, etc. The more customers you can get to your registered company, the more money you will make. WAEC result
Video blogging popularly known as V-blog is a new way that you can make money online. Can you imagine how much the popular videos on YouTube are making for the owners of those channels?
If you love shooting videos that people would love to watch, then you start your own video blogging business.
Set up a YouTube channel and start uploading your videos for people to watch.
14. Forex trading
Before the advent of the internet, it was not easy for people to trade foreign exchange (forex). But today, right from the comfort of your home, you can trade forex and make money for yourself.
The forex trading business is open to all Nigerians.
Giving an honest answer to questions is one way you can earn money online. Starting a survey business is very easy. Although it may not be that profitable when compared to other online businesses listed in this post.
Another challenge that Nigerians are experiencing is how to receive their earnings from the popular survey sites (most only pay through PayPal).
Survey business should be taken as a side hustle rather than a full-time business because the pay may not be as expected.
16. Creating Apps
If you are good at application development, then you have a good opportunity to start making money online.
You can create good working apps that will solve a simple problem and start making money online.
When you hit the internet there is every possibility that you may have come across an app that is making money for its developers.
Dropshipping is another online business that is becoming popular. You practically do not need to own the products. All you need to do is to become the middle man between the producers and the final buyers of the products.
This means it is either you create your website or use a popular platform to run your dropshipping business.
When customers order goods, the manufacturer will deliver the product while you will take a commission from each sale.
18. Sell on Jumia
You can start selling products on Jumia which is one of the Poplar eCommerce platforms in Nigeria.
This is very easy to start. You can mass import goods from manufactures across the globe and then set up your Jumia sellers account and start selling.
19. Sell on Konga
Just as it is with Jumia, so it is with Konga. You can sell your products on Konga with ease. You do not need to stress yourself.
When orders are made, your business is to make sure you have it in stock. Konga will deliver it to the customers.
20. Sell on Amazon
Amazon is home to many people entrepreneurs. You can leverage Amazon’s powerful platform and start selling your digital products.
If you have a book that you just finished, you can upload it on Amazon and start making sales.
All you need is to sign up with Amazon and you are good to go.
The secret to online business is your ability to market your service or products effectively. If you can consistently brand yourself, then you will make a lot of money.
Starting an online business hasn’t been this easy. You can start yours today and see how much you can learn and earn.
If you are a student or recent graduate, you can lay your hand on one or two of these online businesses and start making money.