Poster,

I'm glad you asked this question here is a detailed explanation on what e-business is about and how it could be set up

http://lagosbusinesses..com/2009/10/starting-web-business-in-nigeria.html

fuke:

This is not get rich quick, no wonder people have not responded well.

Whether we like it or not we will get back there. Good write up pal.

Even if it were people might still not respond well. It's about interest in the topic.

@Poster,

I bet this business will not be an all comers affair personally I don't see myself doing it.

Poster,

Only get rich quick scams offer such potential in less than thirty days (Nov. 24 to Dec.25). Be careful

Poster,

To answer your question i would say yes. Take for instance the game, shoprite, park n shop and some other minors in their league like at Yaba where I reside there is one Tonyson supermarket that is doing really fine.

I have come to know that supermarkets thrive mostly in middle class and upper middle class neighbourhoods or densely populated areas. So if you are thinking of setting one up you already have some hints.

Poster,

Excuse me but what is so lucrative about businesses that have high competition? Are you aware that competition is very high in those niches you mentioned?

mamagee,

if you are serious about this then stop insulting people who have made contributions. You asked for advice and that is what you are getting whether satisfactory or not.

Your question by the way doesn't help matters there are too many businesses to start in Nigeria and as far as I am concerned the best business to start is relative.

I write about businesses in Lagos Nigeria visit my blog lagosbusinesses..com for more details.

Poster,

You could visit my blog I write about business ideas and opportunities available in lagos Nigeria.

The blog is located at lagosbusinesses..com

Poster

Try your hands on reselling fast moving products like drinks, stationery and snacks. of course there are many more things you could start with that amount including recharge cards which you have mentioned.

My comment

highly competitive with low margins but there is the possibility of quick sales.

Easy to set up with little capital and low risks compared to many other micro businesses.

Poster

Here is my own selection of investments

1. Discount Houses can help you invest your money in treasury bills
2. Stock brokerage firms usually run various investment schemes
3. Insurance companies with their annuity programs
4. Other asset management companies

Poster to reply you

I know that a lot of boutique owners in Lagos source their wares from wholesalers based in Idumota, Balogun and Apongbo markets.

If you are interested in the business like you say I'll advice you to visit these markets and conduct your own research.

Here is an interesting read on this topic: http://lagosbusinesses..com/2009/10/starting-web-business-in-nigeria.html

Poster my humble submission,

with that amount you should invest in reselling fast moving products because of the stable nature of such ventures plus the returns.

Personally if I had that amount and the choice of what business to start I would consider any of the following;

1. Reselling consumables (everyday items for consumption)
2. Reselling recharge cards
3. You could set up a bar with flexible options of serving pepper soup and suya as well

This is just my contribution. You may also consider rendering a commercial service instead as this will cost you less in terms of outlay and over head costs.

Also with that amount you can set up a mini cyber cafe with say 5 systems and possibly break even within 8 months depending on the level of patronage and overhead costs.

Since they want a safe and stable investments they should choose sectors that offer relatively stable climate and in which they have both technical and financial muscle to pull. They may want to consider;

Option A They could invest in Nigeria's transportation sector depending on how much they have;

1. Importing used toyota, mitsubishi cars etc.
2. Importing motorcycles from Asia
3. They could set up their own vehicle leasing company
4. Their own commuter bus scheme like the BFS, BRT and LAGBUS schemes
5. Haulage business
6. Overseas Shipping from Asia to Lagos and
7. courier services

Option B They could invest in our finance industry

1. Their own micro finance bank

Option C Real Estate

1. Building and selling mini estates
2. Building Luxury Apartments mainly for expatriates
3. Building Tenement Houses in Highbrow Lagos or Port Harcourt

Option D I.T and Telecomms

1. An ISP to rival those dominating the sector
2. Become distributors of fast moving laptops, mobile phones, plasma TVs, DVDs and other electronic gadgets
3. They could also sell Ipods, watches, fashion accessories from Japan, Italy, France or the UK

Option E Petroleum marketing

1. Set up filling stations
2. Import and Supply diesel, kerosine and petrol


The list is endless there are still many more to cover.

POSAKOSA1:

DANGOTE is a thieving bastard. I don't think that anyone should buy his goods.

POSAKOSA1:

Thank him for stealing your money------ more greases to your elbow.

muffins:

Dangote is going broke, first he tries to marry Yaradua's daughter to resurrect his falling business, now he's trying a new product, wow, what a thief!!

Silly comments from silly people the height of foolishness.

@Edikan don't be silly making lose in one year is not enough reason for a bank to be termed the worst bank in Nigeria.

What about the other years when the bank single handedly cleared off its bad and non performing loans and internal fraud that at the time would have led to the closure of other banks (1997-99)?

UBA is a good bank they are just having a temporary crisis that's all.

@ Ajanlekoko,

Well said you have demonstrated your knowledge of the topic which is very correct.

@ poster,

It is not right to ask which is better because that implies both are for everyone which is not true. Some people cannot work under others while some would rather be employed by someone else so neither of the two is better. But they both have attractive qualities like;

Self Employment

Advantages

1. Potential for building a never ending stream of income even after retirement

2. Freedom to work according to one's initiative

3. Life long enterprise that may write the founder's name in gold

4. Becoming a job creator and wealth distributor

Disadvantages

1. Involves a lot of risk

2. It is usually a case of a loner not getting far as your little resources will slow you down than ought to

3. In the event of failure you risk losing your personal belongings and property


Paid Employment

Advantages

1. Job Security

2. Income stability

3. Predictable work life

4. Flexibility with running a side business

Disadvantages

1. You are only paid for your efforts and unlike the entrepreneur, your brilliant ideas only receive commendation and little or no real monetary rewards.

2. You will simply be helping another man create wealth for himself while you make do with your wages which might be meager

Think of it as a case of not having your cake and eating it.

@ Poster,

I am not sure of what you mean by how to invest in blogging and what it is you exactly want but blogging can be done with little or no money.

For as little as nothing you can blog for free and use third party advertisement such as adsense using google's blogging software - blogger (www..com) or one from wordpress. The draw back here is that you have limited control over the blog's functions and features.

For a small investment a number of web hosting companies will charge you to help set up your blog.

Your investment will mainly be time you spend writing, marketing and promoting your blog, plus efforts and may be minor expenses for your internet connection or hosting fees.

If you still want to learn more about running a web publishing business like blogging read this article
http://lagosbusinesses..com/2009/10/starting-web-business-in-nigeria.html on my blog.

Actually you can start an online biz with next to nothing.

For instance blogging is a good business you can start at no cost best of all it pays off on the long run but requires a lot of commitment.

@ Poster,

Source please.

Also note that you said daily revenue from ads is $3273 which should actually be the maximum amount the website could make from daily ad revenue assuming all the ads are clicked at least once.

That value you mentioned is merely an estimate of the earning power of nairaland assuming all its daily page views translate to ad clicks (100% CTR)

@Poster

I absolutely agree with you.

Most service based businesses do not need capital (funds) to start.

However, capital in the form of knowledge, skills work experience etc are important.

Poster here is a list you could try out from;

1. If you have good writing skills write as a freelancer for web publishers there are many of such writing opportunities on the internet at places such as Helium, squiddo and hubpages (google get paid to write)

2. You could go into reselling of recharge cards especially the lower denominations (100, 150, 200 and so on)

3. If you are female, try buying and reselling affordable fashion accessories to girls like earrings, bangles, lipsticks, sandals, handbags, slippers even undies and cream. (There is a ready made market in any higher institution for this)

4. You could also sell handouts to your course mates. If you are better at a course than most people you could prepare your own lecture notes were you simplify difficult aspects of a course and sell same to your course mates or students from other departments having same problem

5. You could also engage in part time teaching in any tutorial center for jambites or O level students. You could also organise home teaching

6. If you have good marketing skills help traders find customers especially those who sell electronics in nearby markets and get a commission for your efforts.

The list is endless but here are just a few to pick from.

Clothing and fashion wares are less expensive from dubai

Electronics and electronic gadgets that sell really fast in Lagos;

1. Television Sets especially flat screens

2. DVD players

3. Mobile phones with mp3 players and other multimedia features

4. Speakers and headsets