Ondo state is one of the 36 states in Nigeria, it is located in the Western part of the country and it was created on the 3rd of February, 1976. Akure is the largest city in the state and it is the state capital. Other notable towns in the state are Owo, Ore, Ondo town, Okitipupa and Akoko. The nick name of Ondo state is ‘The Sunshine State’.
Ondo state shares borders with Ekiti state, Edo state, Kogi state, Ogun state, Osun state and the Atlantic ocean. The major ethnic group in Ondo state is the Yoruba tribe. Ijaw people in Ilaje and some people of Edo decent are minority ethnic groups in Ondo state. The languages that are generally spoken in the state are English and Yoruba.
The sources of Income for people in Ondo state are farming, fishing, hospitality, service industry, transportation, arts and crafts and trade and commerce. Ondo state is notable for the production of the following crops; Banana, Plantain, Yam, Cassava, Palm Kernel, Kola nut, Cocoa, Rubber, Orange, Mango, Pears, and varieties of vegetables and fruits, et al. The state is also blessed with one of the richest forests in Nigeria landscape. Ondo state also has large deposit of crude oil hence it is considered to be among the oil and gas producing states in Nigeria.
Now let us quickly consider the top ten business opportunities available in Ondo state;
10 Small Business Investment Opportunities in Ondo State
Table of Content
1. Mechanized Farming
Ondo state can boast of having one of the most fertile farming lands in Nigeria; hence farmers struggle less to cultivate their crops. There are several Agric plantations that you can start in Ondo state with the aid of tractors and other machines for farming. The truth is that, if you start your banana, plantain or cocoa plantation in any part of Ondo state, you are sure of making good returns on your investment. Most food merchants travel to Ondo to buy their agric produce and they transport it to other parts of the country.
2. Timber Merchant
Ondo state is one of the hotspot for timber merchants in Nigeria simply because they get varieties of trees that are suitable for furniture making, construction and paper making. So, if you are looking for a thriving and profitable business to start in Ondo state, then you should consider going into logging business. But before you launch this type of business, you must secure the required license from both the Federal government of Nigeria and the Ondo state government. You can visit any government office to make enquiries on how to secure the required license.
3. Daycare and School Business
Daycare and School business is yet another thriving business an entrepreneur can setup in Ondo state. There are loads of working class parents who need the service of a daycare centre for their children. Hence, all you need to do is to ensure that you follow due process to get your school and daycare registered under the government, and also ensure that you locate the business in a place that people can locate easily.
4. Food Processing Business
There are several fruits and crops that are cultivated in Ondo state on a large scale hence the state is highly suitable for industries like Food Processing Plant. If you are interested in the food industry, then you should consider establishing your own food processing plant in Ondo state. Just ensure that you conduct your feasibility studies to be sure of the type of food to process.
5. Restaurant and Bar
Restaurant and bar is yet another viable and highly profitable business an entrepreneur can establish in Ondo state. If you have ever traveled by road via Lagos – Benin expressway, then you would realize how booming restaurant business is in Ondo state- especially in Ore. So, if you are interested in food business, then you can consider setting up your own standard restaurant and bar in Ore, Ondo state. No doubt you are going to make huge profits from this business especially if it is located in an area prone to vehicular traffic.
6. Motel Business
Motel business is one of the businesses that an entrepreneur can successfully start in Ondo state and recoup his or her money within the shortest time possible. Loads of travelers sometimes prefer to break their journey in Ondo and then continue the following day. Therefore, all you need is to build a motel along the areas where travelers can easily access and you will have loads of customers.
7. Mobile Phones, Computers and Accessories Shop
Another easy to setup but yet highly profitable business to establish in Ondo state is mobile phones, computers and accessories shop. The market for this type of goods is large in Ondo state. The bottom line is that you must ensure that you choose a good location for your shop. You can as well add the sale of recharge cards of various telecommunication companies in Nigeria and their SIM card as well.
8. Auto Mechanic Workshop
Auto mechanic workshop is another highly thriving business an entrepreneur can establish in Ondo state. The truth is that loads of transporters and even private car owners ply Ondo state and sometimes they might need the service of a mechanic once their car breakdown. So ensure that you position your auto mechanic workshop close to a major road and you won’t struggle to attract customers.
9. Petrol Filling Station
Although petrol filling station requires huge startup capital, but the truth remains that it is one of the coolest ways to make money. If you have the financial capacity and you are looking towards starting a business in Ondo state, then you should consider starting your own petrol filling station.
10. Satellite TV Merchant
The Broadcasting Organization of Nigeria (BON) has announced that the country will be going on digital TV throughout the federation in 2015. One of the ways to position for this opportunity is to become a satellite TV merchant in Ondo state. All you need is to rent an office, and then negotiate with Satellite TV companies like Mulitchoice®, StarTimes®, DaarSat® and Consat® et al to be their agent in Ondo state.
There you have it; the top ten business opportunities in Ondo state.