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|'Hot-Cake' Business Opportunities in Nigeria by Seun(m): 9:12pm On Sep 05, 2005|
In the late 90s, the desktop publishing business was thriving; people were setting up "business centers" which were basically desktop publishing centers with a photocopying machine or two thrown in. These "business centers" started springing up everywhere and secondary school leavers and students on break started going for "computer training" to be able to work in these business centers and make extra money for themselves. (I remember being used as a graphic designer for one distressed business center during holidays; I only got paid 300 naira for 3 weeks of full-time work!)
A few years ago, the cyber-cafe business started moving like hot cake in Nigeria. To make your multiple millions, all you needed to do was to subscribe a Satellite Internet service (V-SAT), buy some fairly used computers, rent a small shop in any remote town with a thriving educational or business community, and start a cyber-cafe (Internet cafe). This was like printing money at a rate of 150 to 200 naira per hour per computer per day! After a while, it became too competitive (especially in Lagos) and cyber-cafes started to fizzle and close up, especially those with low quality PCs and unreliable networks.
Then as the GSM revolution swept the country, the phone voucher distribution and call center businesses became the new hot businesses in town. Now we have a situation where every other trader with a shop - including barbers, restaurant owners, and what have you - either sells recharge vouchers or runs a call center business. It has not completely fizzled out, however. Those who have accumulated enough capital to become major distributors of these phone vouchers are still making a a lot of money.
These 'hot cake' business opportunities are/were:
- Available to small businessmen in Nigeria with no special training.
- Highly profitable for those that ventured early into the business.
Do you know of any other business opportunities like this? Can you predict business opportunities that will be as hot as these ones in the near future? Business opportunities that will be available to Nigerian entrepreneurs who have only about 200,000 - 2 million naira startup capital?
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Ka: 12:19am On Sep 06, 2005|
Hard to say. Perhaps when the power sector reforms take off properly, the hot cake venture will be making money by 'selling' electricity. A typical electricity 'seller' will have his shop where you go and charge your key with a certain amount of credit, then plug the 'charged' key into your pay-as-you-go meter so that you get so many units of electricity.
Or perhaps the power sector reforms won't take off, and the hot cake venture will be building battery-inverter combos so that people can have get power from batteries that have been charged elsewhere (e.g. at a petrol station) without the fumes and noise that you'd get from a generator.
Or maybe the rising prices of fuel will mean that the hot cake venture will be the manufacture and maintenance of solar ovens.
Or maybe some enterprising soul will set up an electronic fund transfer network (like a local Western Union) so that the hot cake venture will be acting as a retail outlet for the electronic transfer of funds.
Or with high speed wireless internet access on the horizon, perhaps the hot cake venture will be roadside cybercafes (where one man and his laptop offer you internet access for an hour).
Who knows... the possibilities are endless!
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Seun(m): 12:53am On Sep 06, 2005|
Ka, your posts are packed with information as usual.
Website design/development and hosting can be a pretty sweet business for someone who is:
- Basically a good businessman, and
- Technically savvy enough to manage simple web-based software, or
- At least smart enough to recognize and hire competent website developers and system admiistrators.
- Has a few hundred thousand naira in the above case, and a means of making online payments.
- Able to organize Internet access for self or (in case 3) for staff.
The beauty of the hosting (and domain name) business is that people hardly ever change their web hosts unless your customer support is really bad. For example, I've been hosting my sites with the same company since March 2004, and the effort involved in switching to a new host is enough to make me stay even if I'm a bit unhappy at times. However, small time webmasters and failed businesses may fail to pay up after the first year.
The website design and development business can also be quite sweet, especially if you're able to deal cut contracts with large companies. Companies, especially, prefer to get their website design, development, domain name and even hosting from the same company so minimize their stress. They are also willing to pay much more than it actually costs to get the job done if you're using interns or young university or polytechnic graduates, especially those on NYSC.
Domain name reselling only becomes lucrative when you have a very large number of clients, because it costs you more money to purchase each additional domain ordered. However, once a domain is set up it requires zero maintenance, so a one person operation can easily accumulate hundreds or thousands of customers if software is used to automate all tasks. People will only contact you when you screw them the way Registerfly has decided to treat me.
There you go. Three hot-cake businesses for the Internet-savvy Nigerian businessman.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by IAH(f): 8:16am On Sep 06, 2005|
Don't forget businesses like making Pure-water, making "Topevita, Jidevita, Seunvita"(all those Eruku Oshodi Choco) were once hot cake businesses in Nigeria. I don't think they were very profitable though. Fast-food joints is becoming hot-cake too.
Then there was a time people were doing that stupid pyramid thing,if you would call that a business.
But for the future, since credit card has just landed, I think the few people that get a CC might start providing credit card payment solutions for the many people that won't be given one by the banks. But if the banks give it easily then this is not feasible.
More Nigerians will soon move to selling things online. It might become hot-cake too. Especially for Nigerians living abroad. You know, Nigerians like Janded things, your site might be their one-stop shop to pick up their designer wears and the assurance is there that it's straight from Jand/Yankee.
We can even have our own indigenous bidding site, Nigeria-ebay in the future.(dreams. hehehehe, na thieves go full the site)
What about mobile-phone content provider? I don't really know about this one but it's really HOT here.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by kazey(m): 11:29am On Sep 06, 2005|
Well online solutions to Nigerians, especially when it comes to online retail outlets would take a really long time before it becomes a place of abode. People have to fill their belly first (affects consistent sales). Poverty, E-literacy and Unemployment state of Nigeria wouldnt let that happen currently, but maybe in the future.
Mobile content providing, is a hot cake, here too. But in Nigeria, the providers make it so hard with their policies to implement a solution. Their charges is way too much....... Besides what would you be providing on the low scale angle? Ringtones, wall papers, and games?? hmm I dont see, Nigerians spending money changing ringtones regularly. Besides even downloading java games and changing them once they get tired of it.
The future is the future. You can only predict, and it might be wrong. thats just the way I see it.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by layi(m): 11:41am On Sep 06, 2005|
Some structures are needed before some IT-biz dreams could be acheived in nigeria. Poverty&Internet illiteracy reigns supreme.
b2c websites may not pay in the nearest future. But i see hope for b2b sites. Offer free stuffs, use viral marketing and get a large database/mailing list. Use your mailing list (backend) for Adverts and you could make millions.
I believe anywebmaster with about 500,000 emaillist or at least 5000 daily traffic (homebased nigerians) would make lots of money from the big companies (Adverts/endorsements from MTN, Cocacola etc).
Apart from IT biz. The power sector does not look redeemable at the moment. Capitalize on this shortfall and get people hook on your alternative. heres what i mean. Make Fans, pressing iron etc that run on batteries only and you could make millions.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by EzehM(m): 4:56pm On Sep 09, 2005|
Expensive, but surely something to look into - WiMAX
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Seun(m): 5:13pm On Sep 09, 2005|
WIMAX is a technology and not a business. It will be used by ISPs to lower the cost of Internet Access in the country. I do not see a small businessman being able to enter this kind of business.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by EzehM(m): 6:06pm On Sep 09, 2005|
You are right WiMAX is a technology, a technology that can however lead to the conception of business prospects, just like other technological concepts before it. Expensive yes.... Maybe..
|Re: 'Hot-Cake' Business Opportunities in Nigeria by psyche(f): 5:12pm On Sep 14, 2005|
There is a new internet solution that might help grow small and medium sized organizations that do not need corporate internet access. SOHOs will particularly benefit from this innovation, it is called IP Wireless and a test run is currently going on in Lagos to determine its efficacy. I can envision a time when u only need 2 computers to run a mobile cybercafe- mobile in the sense that the modems are small and portable, and u can move up north with it and practically settle anywhere.
methinks this will be the best, so guys look out for it.....so to answer seuns question, with N200,000 this innovation will help u open very small cybercafes (2-3systems) and u can have these in as many locations as u want. An aunts garage, a kiosk just around the corner etc...u name it..even a laptop under an umbrella where the phone calls are being made and guess what...u can make money on internet calls from skype or yahoo for free and you will be charging you customers.
i see the whole thing playing out right now... i hope u do too
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Bizkid(m): 3:10am On Sep 26, 2005|
There is a company rolling out wireless hotspots in lagos. My friend owns the company. It is a Wi-Fi hot spots and all you need do is buy a voucher to access internet via a wi-fi laptop.
The way to make money from skype is for all the cybercafes to run skype and allow people to make internet calls to other cafes. The problem with this is people must know the skype ids of the participating cafes.
although this problem can be overcome by basically publishing the ids and details on each shop and update it daily.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by otokx(m): 10:17am On Oct 27, 2005|
so whats all the noise about WIMAX?
|Re: 'Hot-Cake' Business Opportunities in Nigeria by jclord(f): 12:11am On Mar 18, 2006|
Let me add my 2cents.
How about thinking globally when you are thinking of markets. Don't just limit youself to one country. For example Vonage, which is an internet phone company in the US will pay anyone to sign people up for their internet phone service. You don't have to live in the US to be able to market this product you just have to understand internet marketing. How about selling products to home sick Nigerians living in Europe, the Americas and Australia?
|Re: 'Hot-Cake' Business Opportunities in Nigeria by olisaeloka: 3:26pm On Mar 20, 2006|
Right now online business seems to be taking over due to the fact that the world is fast becoming a global village.We do not have to see ourselves before a transaction is sealed. It will take some time to elaborate.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by diyobdw(f): 5:24pm On Mar 21, 2006|
Freelance serivces and Home businesses soon be a "hot cake" because;
-It's internet based (which is now becoming readliy affordable)
-low starting capital (PC telephone & internet access)
-online payment alternatives is spurting by the day in nigeria.
-Home delivery now getting more popular
Not just easier but more effective to deal online!!
Also job-seekers get prepared!! Info.Tech rules the next generation.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by haywhy(m): 4:04pm On Apr 13, 2006|
Well, i am a resident of the UK, so i think internet business should be promoted in NIGERIA. It is verry difficult to purchase MTN,GLO,V MOBILE, vouchers from here and home shopping on net is what people are crazy about here due to the convenience. Sometimes i use NETICASH.com but now they are bleeping up and rechargenigeria.com doesn't allow paypal accounts and others like VISA, MASTER CARD etc May God help us ooooooo cos i don't know what to do
|Re: 'Hot-Cake' Business Opportunities in Nigeria by diyobdw(f): 4:09pm On Apr 13, 2006|
welcome to nairaland haywhy
|Re: 'Hot-Cake' Business Opportunities in Nigeria by haywhy(m): 3:33pm On Apr 24, 2006|
It sounds ike agood business but getting peope to join is a great task as there a re lots of similar business here in britain. Anyway, i will like to know here to purchase MTN,, vouchers on the net as prepaid nigeria & neticash are bleeping up
|Re: 'Hot-Cake' Business Opportunities in Nigeria by gbadex1(m): 1:04pm On May 02, 2006|
@Bizkid, and everyone else:
i've got skype. does it mean i can make phone calls to other people who don't have skype? i mean like, i can make phone calls but to non-skype users maybe like a landline or something up in UK or US?
|Re: 'Hot-Cake' Business Opportunities in Nigeria by neticash(m): 7:28pm On May 11, 2006|
HAYWHY, We'd just like to apologise for whatever you might have experienced, but we'd like you to know that our service has been fully operational since we had our formal launch in September '05 and whatever you might have been experiencing while buying the PIns was not down to NETICASH but the actual provider of the service SWAP Associates Nigeria.
You see, when the Recharge PIN's are sold out, and you try to buy one, you will get the message "your payment was not successful" regardless of whether there are funds in your account or not.
So this is what happened and we are continually working with our partners so that service delivery can be 100% by educating them on how the payment service works, so that they can keep their stock levels up.
So any questions, send us an email.
Alternatively, if it's about the PINs send an email to email@example.com
|Re: 'Hot-Cake' Business Opportunities in Nigeria by walemuse(m): 6:46pm On May 17, 2006|
Red bricks business using clay is a multi-millionaira business.Red clay abounds in the South-western part of Nigeria.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by didisky(m): 8:02pm On May 23, 2006|
I want to go into recharge card biz. Can you tell me how to go about it?
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Ndipe(m): 11:19am On Feb 19, 2007|
Does anybody know the cost involved in setting up a cybercafe in Naija? How lucrative is the project? 100 Naira an hour with just 30 computers would average about 20 thousand naira a a day, and 400 thousand naira a month in 20 days. The rest of the days, I would just call off, or have an assistant manage the biz for me.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by getukudo(m): 1:26pm On Feb 19, 2007|
The PHCN has come up with the Pay As You Go card, which i think is better. I think it will also be a great way of making great cash too, as they will be distributors willing to sell this cards and individuals too. Its therefore another "Hot Cake business coming into Nigeria".
Well most Nigerians find it difficult to believe this kind of business, but people are really making money out this new way of making money. E.g Google Adwords and Clickbank, the power of this two internet giants has made easy for people to go online and make cool money, this is no "Yahoo Yahoo"[i][/i] but a cool way of making money online. To learn more about this business i recommend Wade Wingers book [url=http://Google Profits
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Sunnyoo(m): 5:46pm On Mar 17, 2007|
Most of us Nigerians like to join the band wagon, that is, any business Mr. A is into oh I want to do it too. You realise that after a while because too many people are into it, the business is no more lucrative and people now start to close shop.
You can see most of the business you mention that were Hot Cake a while ago, does not stand the taste of time any more.
I would rather suggest that we leave Hot Cake business and look inward to establish a small business that can grow over time. The amount of N200,000 to N2m is enough to start a private Nursery & Primary school that can grow to a big business in less that five years. Knowing very well that the birth rate in this country is high, at such children will continue to go to school.
Investment in shares is another long term business that is more profitable, thanks for the awareness that Nigerian Stock Exchange have created in this area. And making sure that the companies listed are those that are standing the taste of times. Imagine you investing up to N2m in shares for one year, you are bound to realise a lot of money from Dividends, Bonus and even increase in share prices.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by gmcln(m): 9:37pm On Mar 21, 2007|
With the amount of waste in out post harvest agricultural products, we need to invest in Agro-processing. Like Tomato into tomato paste, sauce. Cassava into cassava starch, cassava donut or cake. Peanut into peanut butter etc. With a population of 140 million,
you can see that a lot of money can be made in this sector.
See link for more info
|Re: 'Hot-Cake' Business Opportunities in Nigeria by gmcln(m): 9:45pm On Mar 21, 2007|
Sorry, text should read .
|Re: 'Hot-Cake' Business Opportunities in Nigeria by Normal(m): 6:36pm On Aug 14, 2007|
Hmmm welcome to this forum
|Re: 'Hot-Cake' Business Opportunities in Nigeria by webcrawlla(m): 6:51pm On Aug 14, 2007|
Personally, I love businesses that are web based. Although there are so many other businesses you can do offline, but I love internet business.
Business opportunities that are hot in Nigeria includes; courier service agents (like Fedex, DHL etc), home delivery services, vehicle towing services (for overheated vehicles on the 3rd Mainland bridge, especially in the morning and evening), internet service provider for fast food joints and so on. Am sure a whole lot more exist. It only require research.
As for me, its internet marketing and nothing more.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by bignero: 7:06pm On Aug 17, 2007|
@webcrawler and @ seun
pls could u give me details on what a digital studio is anwhat its all about,also i need info on internet consulting aswell as a group known as firstname.lastname@example.org. thanx a lot.
|Re: 'Hot-Cake' Business Opportunities in Nigeria by lucabrasi(m): 11:52pm On Apr 21, 2008|
schools,either primary,secondary school(i.e private)are hot cake businesses,also a levels and private coaching centres, once you have quality staffs who know what they r doing plus a science graduate can easily multi task in 1 or more science subjects and once u have your building sorted and the furniture and logistics,the only raw materia you need are teachers and the money will roll in as long as students make good grades, word of mouth is enough to fill a school up without adverts
|Re: 'Hot-Cake' Business Opportunities in Nigeria by zelaws: 6:54pm On Apr 22, 2008|
one major problem in nigeria is power. the power sector has witnessed no improvement since the return to democracy.
most nigerian depend on power generators for electricity. this gens make noise and in some area not permited late in the night
There is another power generating devices that is gradually locating its place in the power generating arena. it eject no smoke and noise . i heard an ad calling people to come for training on the making of the device. it is the 'alternator'. watch out for this next hot cake business in nigeria.
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