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5 Untapped Business Ideas & Opportunities In Nigeria

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Untapped Business Ideas & Opportunities In Nigeria

Untapped Business Ideas & Opportunities In Nigeria - ESY MEDIA
Untapped Business Ideas & Opportunities In Nigeria

Starting a business has always being a top priority for me. But, most importantly, starting a profitable business is the main thing. I can’t imagine myself starting a business with low income yield.

I know for sure that there are many business ideas to kick-start.  But I needed to do something different. Not entirely different though, but a business that is not saturated.

So, in 2015 I was positioned in my room with the thought of untapped business ideas and opportunities in Nigeria. I quickly opened my Google app and searched for untapped business ideas and Google kept pushing business ideas to its SERPs. I needed ­untapped business ideas.

 To most persons starting a business is a dream to which they hold in high esteem just like me back in 2015. To start and become millionaires like the other entrepreneurs they have heard, read or watched on TV Stations.

Sadly, there is not one business opportunity that has not being tapped. Every business opportunity has opportunity has being explore or someone is doing a business similar to what you are trying to do. But there is good news.

There is a hidden benefit in competitions, which most persons tries to shy-away or probably are not aware.

To say a bit, a competitive market helps you to understand that a market is profitable. It will help to save you from risk of venturing into an unknown market – not knowing the customer base of the market or probably cost you money to invest in conducting a market research.

Having said all these, are there untapped business ideas and opportunities in Nigeria? The answer is yes. They are business niche very profitable, yet with low participation as seen below.

Untapped Business Ideas & Opportunities In Nigeria

1. Waste & Sanitation Management

Waste management -Untapped business idea in Nigeria - ESY MEDIA

Waste can be found in large quantities across the 36 in Nigeria including the capital city, yet there is no proper management. Globally, there is around 11 billion tons of waste is being collected and makes a whopping revenue of $410 billion. Although the business looks not lucrative and this is one reason why it has being abandoned.

Every human, even the dirtiest person in our society want a clean environment. But the problem is who to clean it.

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So, if you can competently, collect and recycle waste from homes, then, you are miles away from become a very successful entrepreneur.

To start this business, develop a business name, get it registered, then, you can start collect waste. You can start from your neighborhood – talk to friends and family of your new business. Once they see how committed you are to the business, they will help advertise you to their friends.

I know the fear of most intending entrepreneurs is what to do with the waste materials. But there are many products that can be obtained from recycling waste products some of which include slippers, roofing sheets, plastic and broken bottles, and lot more.

Now you may be asking how to recycle the waste products to get these by-products. The truth is, you need not involve yourself in recycling as a small starter. So, what you need to do is locate companies that have the recycling plants and agree to supply them with the waste products. That is it!

Also, another way to get yourself involved in this business is to get people to help you pick up these waste products from your clients homes.

My friend Precious used this method. He wasn’t ready to get his hands dirty. He employed young boys who do the pickup and at the end of the month, he pays them as employee.

In whatever way you choose to run the business, just know that it is very profitable – because you will charge your clients for helping them dispose their waste and still sell the waste materials. And of cause you should know that getting the waste isn’t an issue.

2. Website Flipping

 Website Flipping - Untapped business idea - ESY MEDIA

I was exposed to this business opportunity in 2017. I had just finished from a business seminar and started a conversation with the guy sited by my right hand. Then did I discovered that people websites and resale them for huge amount.

Website Flipping is a very lucrative untapped business idea. Most ­digi-preneurs have built for themselves million naira companies from website flipping.

So, what is website flipping?

Website flipping means buying and selling websites. It is a practice whereby you build a website from the scratch and sell it to interested buyer.

To understand how profitable this business is you must examine it from the perceptive that a website is fast becoming, if not already seen as an integral part of every business.

So, you can decide to venture into this profitable niche. Getting buyers for your website is not very much an issue, because there are platforms where you can list your website to get interested buyers.

If you are interested in this business, here are platforms you can list your website for sale (Click on any of them to access the website); Flippa, trademysite, afternic, Freemarket, Digital Point Forum, Web Hosting Talk, Website Broker.

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3. Employee Training

Employee Training- Untapped Business idea for Nigerian -ESY MEDIA

It is not a new thing that our educational institutions are not able to properly equip students with the requisite know to fit into the labor market. Thus, the demand for continues employees training is high.

Productivity starts from the mindset. Majority of employees are not well oriented with the right mindset to work with. So, you can decide create more professional courses that will carter for the teeming need of the society.

Take for instance, what The Write House does.

You simply need to find out areas in which employees are lacking and see how you can solve the problem. It could be to training them on customer attendance or how to handle money.

4. Organic Farming Business

Organic Farming - ESY MEDIA

Agricultural products are still in high demand both locally and international. The truth is, we are yet to fully develop our agricultural sector notwithstanding the money being pump in by the different governments.

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Even though Nigeria is recognized as a top-notch producer of some crops, when it comes to organic, it’s still very uncultivated.

If agriculture is what you love doing, you should consider organic farming. Start cultivating vegetables, livestock, crops and other organic products.

Interestingly you can get a loan to finance the project, if you don’t have enough capital.

5. Alternative Energy for Homes

Alternative Energy - ESY MEDIA

Business opportunities exist profitably, by providing solutions to the unmet need of the people. The more needs you are able to meet, the more money you make.

And it is obvious that since 2005 when the power sector was privatized till date, the private individuals involve in the distribution of power has failed to live up to it responsibility. This, has paved way for alternative energy for home.

The average power supply in Nigeria is 3, 851 MW according to the Electricity Generating Companies., which is far below what required.

Consequently, alternative source of electricity is a very profitable business in Nigeria. this sources of electricity comes in different form for home usage; Solar Power, Wind Energy, Biofuels, Biomass Energy and lot more.

Many Nigerian entrepreneurs have take to this great opportunity by establishing a solar energy companies for our comfort.

This business may require a huge capital startup to put the necessary machinery in place. You can always start from somewhere.

I once worked with a company that specialized in the installation of solar / inverter systems for home and office use. As at that time, all the company does is to print enough flyers, and we as staffers will set out a day to distribute the flyers.

Sometimes, we write unsolicited proposals for companies, governmental bodies for the installation of solar systems.

Before a month runs out, we get tones of jobs waiting for us.

The truth is, most Nigerians that can afford these alternative sources are willing to invest in it. With the look of things, electricity will continue to be an issue in Nigeria, because the government has no laid down plan to curb it.

Conclusion

Don’t be among the many Nigerians that have decided to cluster a segment of the market. Explore other options. And the untapped business ideas present here are worth venturing into.

Further, you may want to check out our guide on how to Start a business in Nigeria and the benefits of registering your business.

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Helping Entrepreneurs, SMEs to grow and scale their businesses. WhatsApp: +234(0)9025411894

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