We have seen some major setbacks in some rural areas in Nigeria due to the few opportunities available in those regions. Despite all of these setbacks, there are still major business opportunities available in those regions.
In this article, I’ll reveal 2(two) lucrative businesses you can start from rural areas in Nigeria at a very low budget and still make a lot of profit doing that.
This article is going to be lengthy and informative, you can bookmark this page so you can continue reading just in case you couldn’t finish reading.
To cut the story short, let us dive into the 5 lucrative businesses you can start from rural areas in Nigeria.
5 Lucrative Businesses You Can Start From Rural Areas In Nigeria
The transportation business is booming every day and a lot of people are keying into this business due to the high tendencies of profit-making.
This same business is very lucrative even in rural areas. We know that most of these rural areas are having little or no access to major roads or even good roads. But that is not our discussion in this article today. Our major focus is all about the possibilities. We believe that if you’re a business-minded individual then you can harness this opportunity and make a living out of it while you’re still solving problems in these areas.
For you to start the transportation business, you need startup capital to buy a transportation truck or a means of towing farm produce from the farmland to the market.
If you’re on a high budget, you can buy the entire harvest from the farmers and take them to the urban region of the country where demand for food products is very high.
But that is not our major concern right now. In this article, we want to assume that you’re not having any start-up capital but you’re having the mindset of being successful in this line of business.
If you’re in the category of people who have no start-up capital, I’ll try as much as possible to make this business feasible and achievable even with little or no start-up cash.
So the question is how do we achieve this?
First and foremost, you need to do feasibility research on the following
How Good Or Bad Is The Road
Some farmlands are having bad roods which can only be assessable by foot. If you find yourself in such kind of condition then you need to find some little capital to pay labourers to manually move the harvested products to a place with an accessible road where you can use a towing van to move the products.
How much Is The Cost Of The Harvest
Each and every farmer has his or her own price and how much they’re willing to sell their harvest. The price of the products is determined by how much they spent during the planting season. So when you’ve got the price they want to sell then bid for those prices. Take pictures of these food items and create a cost breakdown sheet so that you won’t forget the price of the products.
The data you stored will help you to determine your profit margin and how much you’ll be selling your products to wholesalers or final consumers.
After having all the pictures, you can then go ahead to Facebook and create a Facebook account and set up a Facebook page that fully describes the service and product you sell.
You can now run Facebook ads to reach people closer to the region of your business. People can pay for the products based on the price tag of the product. once you’ve gathered all the money, you can then take out your profit, the farmers money and the cost for paying the van that will transport the farm products to the destination of your buyers or customers.
Hair Cut Business
The hair Cut Business is one of the most lucrative businesses you can start in the rural area of Nigeria. Businesses like that need little startup capital and some great talent.
Since the price of things is subsidised in the rural region of Nigeria, get some of the things you need to start up your business.
But before you go ahead and start the hair cut business, you need to consider the following;
- Place Of Business
- Barbing Kits
Place Of Business
When establishing a barbing saloon in a rural area in Nigeria, you need to ensure that your place of business is located in a busy place like that market where a lot of people gather. By strategically establishing your business there you can reach a lot of people.
Electricity has been a major challenge in Nigeria for over 10 decades now, but thanks to technology. You can now have your own electricity powered by solar energy. This source of power is a little bit expensive but affordable. This will save you money from buying petroleum to power your generator all the time.
As of the time of writing this article, a complete solar panel and battery cost from 300,000 Naira to 500,000 Naira depending on the amount of power you’ll be needing.
Your barbing kits are very important, they are the tools that will enable you to function well at your place of work. Make sure you have that ready at all times.
We believe that you have gotten some ideas of how you can run a successful business from a rural area in Nigeria and still make a good profit. These ideas are well known but how you manage it is what matters a lot. Anyone can do this and still make money from it without being a genius or a business school graduate.
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Thank you for reading