Do you need out-of-the-box ideas that will thrive in Lagos Nigeria? If YES, here are 50 best small business ideas in Lagos you can start with low capital in 2020.
Nigeria is a developing country so there is always a lot of room for new businesses to grow and thrive there especially when the ideas are fresh and brilliant.
Unfortunately, many entrepreneurs in Nigeria are lazy when it comes to brainstorming business ideas – they just look at what other people are doing, then copy their business ideas. Before long, the Business model becomes thrash because everybody is doing the same thing, and supply becomes extremely higher than demand.
This is one reason why many new businesses collapse within three to five years in Nigeria. If you want a business that can grow overtime, or at least earn you a sizable amount of profit before it gets hijacked by business copycats, you must look for out-of-the-box business ideas; business ideas that are relatively new and highly profitable.
To give you a head start, we’ve come up with 50 out-of-the box business ideas that you can startup in Lagos, one of the most populated cities in Nigeria.
50 Best Small Business ideas & Opportunities in Lagos for 2020
1. Healthy Fast Food Restaurant: The fit- fam trend is gaining ground all over the world and Lagosians are catching up on the trend fast too. A lot of people understand the importance of living a healthy life but unfortunately there are too many fast foods and restaurants serving unhealthy, junk food in Lagos.
You can set up a restaurant that serves only healthy meals – you know, like gluten-free snacks made with coconut flour or almond flour, low-fat meals, low-carb meals, and other healthy recipes. A lot of people who are on diets can easily enjoy healthy, guilt-free treats at your restaurant.
2. Pet Boarding: There are many people who own dogs as pets in Lagos but there are no pet boarding facilities. People who need to travel usually need a place to keep their pets until they return so that they don’t starve, and can be well monitored. You can earn a lot of money from setting up one of such facilities in Lagos.
3. Mobile Hair Salon: The traffic and hassles of moving around Lagos can be very discouraging for people who need to visit the salon to get their hair done, you could set up a mobile hair salon that would be fully fitted with all the tools and equipment needed for such services, then go around providing these services to people who would prefer to get their hair done in the comfort of their homes.
4. Yoga Studio: Another good idea is to set up a yoga studio. Yoga is a fitness exercise that is gaining increasing popularity all over the world. Yoga has a lot of benefits as it promotes fitness, and reduces depression and other mental diseases. A lot of Lagosians would love the idea of having a yoga studio that they can visit for yoga exercises.
5. Tiny Houses: If there is one problem that people living in Lagos have, it is the problem of accommodation. Accommodation is very expensive in Lagos due to the large number of people living in the city. You can bring the growing tiny houses trend into Lagos as a way to solve the accommodation problem in the city.
Tiny houses are small-sized houses, sometimes built on trailer wheels and fitted with basic facilities to make the occupants comfortable. A tiny house estate or a tiny house settlement can go a long way in fixing the accommodation problems in the city.
6. Food Sharing: Another expensive item in Lagos is food. Most of the food items being sold in Lagos are imported from neighboring towns and villages because there are few farmers in Lagos. A food sharing service can help to reduce the money that people have to spend on feeding in Lagos.
How this works is that you would have to get people who are interested in food sharing, gather the money together, and then visit those neighboring towns and cities where food items are sold for cheap so that your customers can buy in bulk, and share the food items amongst themselves.
It’s cheaper to purchase food items this way than buying from retailers who also buy from the same source and would have added some extra money so that they can make profits.
7. Meat and Vegetable Delivery: You can start a meat and vegetable door-to-door delivery service. With this service, you can make it easier for people to access fresh fruits, vegetables, and meat from the comfort of their homes.
8. Fruit Basket Delivery: This service also caters to the growing enthusiasm for fitness and healthy living in Lagos, and all over Nigeria.
Many people now understand the importance of eating fruits, making their own natural fruit juice and smoothies instead of carbonated and sugar-packed drinks. You can start selling fruits with a fruit basket delivery service that allows people access to fresh fruits conveniently, and at affordable rates.
9. Addiction Counseling Services: There are many peoples suffering from drug and alcohol addiction in Lagos, with no idea on how to get help. In developed countries, there are many addiction counseling centers where people can get help and recovery from addiction but there are hardly any such help centers in Lagos. You can consider setting up one and make profit from it.
10. Dropshipping: If you are looking to jump on the online business trend but cannot afford the funds to purchase stock, you can consider using the dropshipping model. You can set up your own online store, and search for items that you can sell on platforms like Konga, Jumia, JiJi, OLX, etc.
Add a little amount to the cost price as your profit, and then when you get a customer to purchase the item from your own store, you simply deduct your profits, and give the Jumia or Konga seller the buyer’s address so that they can ship directly to your customer as though you were the original seller. This is a business model that is widely used in developed countries, and you can make good profits from it.
11. Virtual Reality Center: Virtual reality centers are gaming centers that have games that seem real to the player. For instance, the player might be playing a game about driving a speed boat, but the way the game is set up, it would look and feel as though they were really on water driving a speed boat.
12. Website Rentals: Website rental is a growing trend in the Online business community. Many small business owners love the idea of owning a business website but they have no idea about how to manage a website, and sometimes, they don’t have the time to do it. Such people can rent pre-set up websites within their niche that they can use for their businesses and pay a fraction of what it would cost to fully own and manage the website.
13. Arable Land Rentals: Urban farming is gaining popularity all over the world. A lot of people are embracing the idea of growing their own foods because it’s guaranteed to be fresh and organic. However, since there are usually limited spaces for gardening in urban centers, they rent small portions of gardening space from people who have large pieces of arable lands.
If you have a large piece of land in a strategic part of Lagos, you can make money from it by renting it out to people who are interested in gardening. This will help you make some cool cash until you are ready to start.
14. Piggybanking Services: Cultivating a savings culture is very important for many people. You can set up a piggybanking service with a mobile application or a website that allows people save money remotely, and get it after a short while, preferably with interests. You could also introduce some kind of penalty for early withdrawals as a way of enforcing savings discipline.
15. Home Schooling Service Provider: Over the past few years, young school children have become the target for kidnappers in Lagos. However, parents cannot stop taking their children to school because education is important but many parents would gladly embrace the idea of home schooling their kids, where they can be well monitored, protected and taught on a personal level.
You can create a home schooling service with a network of teachers who can teach students remotely via the internet, or visit their homes to provide one-on-one teaching services.
16. Themed Bars and Restaurants: In developed countries, there are themed bars where people of like-minds or people that share the same interests can meet, hang out together and network.
For instance, there are gay bars, or lesbian bars that are strictly for people who have the same sexuality. Homosexual bars are banned in Nigeria but you can set up bars for bankers, doctors, expatriates, ladies, engineers, and so on so that people who share the same interests can hang out together.
17. Coffee Shops: This is not really strange but there are very few of such centers in Lagos. You can set up coffee shops where people can come and hangout or even work during the day.
18. Shared/Co-working Space: Many people are choosing to work remotely in Lagos, and the number of freelancers are increasing. There are not enough co-working spaces to satisfy the growing number of freelancers in Nigeria. This is one business idea you can also look into.
19. Spa Retreat Centers: There are spas in Lagos but hardly any retreat spa centers with accommodation and other facilities that can allow people spend the night, or a few days relaxing at the spa.
20. Nanny Services for New Moms: Most new moms, especially first time moms, hardly know how to take care of their new babies themselves. The usual custom in Nigeria is for the mother of the groom or bride to come around after the baby is born, and help to care for the child until the mother is able to do so on her own.
Parents can find it more convenient to hire a nanny who would help them look after their babies and perform delicate chores like bath the baby; massage the baby, and so on. This can be a helpful solution for couples whose parents have passed, or whose parents are employed or too busy to help them care for their babies the traditional way.
21. Pre-owned Wedding Dresses: Most brides have no use for their wedding dresses after the wedding. You can start a service that buys off wedding dresses from such brides, and sell it at discounted rates to brides looking to buy wedding dresses on a budget.
23. Maternity Wear Rentals: Many pregnant women have to buy new dresses when they are pregnant. You can start a maternity wear rental service, or a business that deals in selling pre-owned maternity wears to mothers who cannot afford to buy new ones.
24. Dance Studio: Dancing is an important culture in Nigeria. Every year, a new dance style is introduced into the Nigerian entertainment scene. You can set up a dance studio where people can learn some of the new dance trends, or where couples looking to get married can enroll for dance lessons so that they can put up a good show on their big day.
25. Senior Care Services: There are facilities for senior citizens in developed countries, where the aged can live and have access to healthcare and welfare services. There are hardly any such facilities for senior citizens in Lagos.
26. Freelance Writing: Many Lagosians are still unaware that they can make money from the comfort of their homes simply by writing for bloggers, book publishers, and internet marketers. If you are looking for an internet-based business idea that would fetch you good money, this is one business idea to consider.
27. Amazon Kindle Publishing: Another online-based business idea that many are unaware could fetch them a lot of money is Amazon Kindle Publishing. You can write books on diverse topics of interest, and earn money from publishing these books for sale on Amazon Kindle publishing platform.
28. Animations Expert: Still on internet-based business ideas that would keep you from doing what everyone else is doing in Lagos, and earn impressive income in a unique way, you can consider providing animation services. If you are good with graphics and animations, you can register on online platforms like Freelancer and Fiverr, and earn top dollars for providing animation services to people from all over the world without leaving your home.
29. Room Rentals (Air b‘n’b): If you are familiar with business trends on the international scene, you would have heard about Air b ‘n’ b, a platform that allows you to rent a bedroom, or space that you are not using within your home out to tourists and short-term visitors.
This service allows you to turn your home into a short-term bed and breakfast, and make money from living spaces that you are not using. We don’t have Air b ‘n’ b in Lagos yet so you can consider introducing something like that since many tourists and foreign business people visit Lagos.
30. Internet Security Consultant: Another lucrative idea is to provide internet security services to business organizations to secure their internet based operations and keep their business websites, company accounts, and online transactions from being compromised by hackers.
31. OEM Manufacturing/Private Labeling Services: Most people who need private labeling services in Nigeria look to China. Private labeling service is a business model that involves providing manufacturing services to businesses so that they don’t have to go through the stress, or bear the costs of production, but the products would be branded as though it was manufactured by the seller.
If you can afford equipment for manufacturing products that are in high demand in Nigeria like soaps, detergents, toothpastes, and so on, you can start a private labeling service for businesses looking to build their own brands in Nigeria.
32. Homemade Food Sales and Delivery: There are hundreds of bachelors and people who are too busy to cook their own meals in Lagos. You can set up a business that involves cooking and delivering food and soups to these groups of people so that they don’t have to eat at fast food restaurants all the time.
33. Niche Ecommerce Store: Another smart idea is to create a niche e-commerce store that specializes in selling a specific type of product. For instance, you can create an eCommerce store for drug and health product sellers, fabric sellers, lingerie sellers, and so on. There are many niche ecommerce store ideas that nobody has explored yet in Lagos.
34. Business Matching Services: Another lucrative business idea is to set up a business matching service. You know how in the past, people used the trade by barter system to get items that they want because the hard currency system wasn’t in place at the time, well, that system is back.
Here, business owners who require a service are linked up with other business owners who can provide the service without taking cash – payments are in the form of service exchange. You can start a service like this, and help business owners in Lagos to reduce the costs of doing business.
35. Personal Trainer: There are few personal fitness trainers in Lagos. This is another business that allows you to benefit from the growing enthusiasm for health and fitness in Lagos.
36. Personal Concierge: You can set up a network of personal concierges. You can dispatch these concierges to work for clients who need their services for a short while. Personal concierges help their clients to run errands, and complete tasks that they are unable to handle themselves. You can think of a personal concierge like a personal assistant.
37. Finishing/Etiquette School: You can set up a finishing school that teaches etiquette lessons such as personal etiquette, business etiquette, health etiquette, fashion etiquette, and so on.
38. Packing and Moving Services: Most people in Lagos have to struggle with packing, unpacking and arranging their stuffs when moving from one location to another.
You can set up a business that deals in providing packing and moving services to people who are trying to move from one house or office space to another, so that it would be easier for them to do so.
39. Cryptocurrency Trading: The cryptocurrency investment trend is growing all over the world. An American celebrity recently made $5 million dollars from cryptocurrency investment. This is a business that can bring you impressive profits if you are smart enough to handle it.
40. Food truck: Instead of opening a brick and mortar restaurant, you can consider setting up a mobile food truck to sell lunch or breakfast to the working populace in Lagos.
41. Drone Manufacturing/Sales: Drones are highly versatile – they can be used in Engineering sites to take photos of sites or areas where humans cannot safely reach, they can be used to take selfies and live recordings on social media for social media lovers, they can be used to fight crime remotely, and perform several other important tasks. You can start manufacturing and selling drones to people who require these gadgets in Lagos.
42. Subscription Service Business: Another idea is to set up a subscription service business where people can subscribe for regular supply of a particular product or service, and you can supply it to the subscribers on a regular basis. People can subscribe to a monthly supply of heath products, beauty products, vehicle maintenance products, and so on.
43. No-waste Toiletries: No-waste toiletries are gaining popularity all over the world as they are environment-friendly, and cheaper. You can set up a store that sells no-waste toiletries in Lagos to sell things like menstrual cups, cloth diapers, and other no-waste toiletries.
44. Product Photography Services: A lot of people sell their goods and services online nowadays, and these goods have to be presented in an appealing way online.
You can set up a product photography business that deals in product photography and presentation.
45. E-waste: E-waste is another smart out-of-the-box business idea for the city of Lagos. E-wastes services can help to reduce pollution in Lagos, and help you earn some money too.
46. Maid Hookup Services: The era when under aged children and underprivileged foreigners where used as maids in Nigeria is fast coming to an end. It has now become illegal to employ these categories of people as maids. You can set up a service that employs qualified people as maids, and help them find job placements in the homes of people who need maids to help them with their household chores.
47. Cruise Shipping Services: There is a sea in Lagos that links other parts of the world, but quite shockingly, there are no cruise shipping services in Lagos. A lot of people enjoy going on a cruise trip and you can be the first person to set up such a business in Lagos.
48. Vehicle Flipping Service: Another idea is to set up a service that links vehicle owners together. People can easily exchange vehicles that they have grown tired of with other people, without having to go through the stress of buying and selling their cars.
49. Social Media Manager: You can provide social media management services to companies who have social media accounts that they are not able to manage by themselves.
50. Crowdfunding Platforms: Lastly, you can consider setting up a crowdfunding platform where people with smart business ideas can raise the funds that they need to finance their business ideas.