There is a lot of business ideas in Nigeria you can venture into as a startup. The country has a lot of untapped resources and you will always find a market based on the population of the country. Nevertheless, here are 5 business ideas in Nigeria you can start in 2019.
Reusable bags are in high demand as people are becoming more and more aware of the waste produced in their homes. People are attracted to using reusable bags because they want to contribute towards reducing plastic waste. So if you want to create a brand around the preservation of environment then reusable bags is a great business idea. Market research indicates that the sales of reusable bags have been steadily increasing as more people are trying to minimize plastic waste. You can innovate something like mesh bags which can be utilized for storing toys and other such essentials.
If you adopt such ideas which are centered around social awareness then you must show your customer that they will be making a huge environmental impact with a simple change. Your marketing strategy must be focused on lowering plastic based and saving marine life. You must show your customers that your product is the solution to these issues and that they must strive for a change by taking action.
Phone Case Startup
According to market research, by 2025 the phone accessories industry will be worth approximately $121.72 billion. In the phone accessories industry, phone cases are a hot trend. Phone case niche is growing at a remarkable pace and you must tap this potential. According to the same research, approximately 20.5% of the phone accessories industry is accommodated by phone cases. Therefore phone cases is a very profitable niche.
You can integrate drop shipping with this business idea and start targeting different customer segments. You can position your brand around certain customer segments and your phone cases designs must reflect similar branding.
Around 141 million smartwatches were sold worldwide in 2018. The market estimate shows that smartwatches sales in 2019 are going to generate a revenue of $53.2 billion. Smartwatches are a hot trend as more and more people are attracted to them due to the convenience and flexibility they have to offer. Hence, they are a very innovative business idea.
The best part about smartwatches niche is that you can embed drop shipping with them. You should identify profitable customer groups and their desired features. Then start offering those features in your smartwatches. For instance, you can offer smartwatches with GPS, 4K resolution, facial recognition, etc.
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Home Security Systems
According to crime statistics, a home burglary is reported every 18 seconds. Home security systems give people a sense of security and make communities safer. Within the home security market, home security cameras are a very popular business niche. Their sales and demand have been increasing exponentially since 2013.
You should position your branding around safety and reliability, create a customized website which promotes your home security systems. You also can sell your home security products through this website and you can also choose to monetize it.
Social Media Management
Social media is a very effective way of marketing that every business needs but only a few know how to implement it effectively. If you have a knack for social media and know how to build an audience online then this is a perfect business opportunity for you. You can approach specific clients who need your help with building a digital audience or you can make a website which promotes your social media management services.