₦airaland Forum

Invest in the following;

1. Commuter transportation (moving commuters from one place to another within a major city like Lagos)

2. Dry Cleaning business

3. Retailing (dealing with consumer products like mobile phones, laptops, groceries, fashion accessories and several others)

4. Education services (You could set up a nursery/primary school, a tutorial center, computer training center etc)

5. Reselling diesel

6. Setting up a restaurant or fast food eatery

7. Real Estate Agency

Why not try blogging. It's rewarding on the long term and is inexpensive.

phuck_NL:
Here we go with sentiments again. Ogini?
It is called feasibility studies. Ya digg. The mandarin and other chinese languages are not beneficial to anyone in Nigeria so why will Nigerians pay to learn it.
Aside from the Ibos that do import businesses in china, i don't think anyone in Nigeria really cares about the language.
French and spanish wey dey more appealing, people no pay for, na mandarin dem go dey pay for?
No sentiments abeg. @ Poster, don't waste your time juh.

At least that is your opinion

Location definitely if your preferred place of residence is Lagos should be; Ikeja (Toyin Street and environs, Awolowo way etc). Yaba and Surulere are other places to consider as well especially Tejuosho, Ojuelegba road and environs.

You should also target areas with a lot of beauty salons and parlours because they are typically your main market.

Busy streets and bus stops in commercial areas are also good places to locate a beauty/cosmetic shop.

As for getting a brand source and beauty consultant I will advise you to use free classified adverts to reach them like; www.nairalist.com, www.gbogbo.com or even asking same question as a comment on my blog as i receive business inclined visitors on a daily basis located at: http://www.lagosbusinesses..com

Good luck.

@Fhemmy and chuksab you only need a feasibilty study for a business that isn't proven not one like recharge cards reselling which has proven itself beyond doubt, instead you should be asking him if he has done his home work on a marketing or sales plan as this is critical to making him overcome competition.

@Poster

Depends on so many things however here are some options open to you;

1. Raising money from family and friends is likely to be your best bet

2. Church members, support groups and village associations is another option

3. Micro-finance institutions are also another option

4. You could start a co-operative society where each member makes a daily, weekly or monthly contribution to a pool. Many businesses have been started by people who used this method.

5. Work part-time as a teacher, marketer or any other short term work for a while then gather your savings together after say 3 months or more

Poster don't download any e-book from any body.

Now like I said you could either pursue fast moving products like fizzy drinks, noodles, clothing, mobile phones, recharge cards and a lot more but remember that competition and location are very important factors to consider when dealing in fast moving products.

You could also consider making your own products like snacks especially cakes (if you are a very good baker) or you could partner with someone who has a shop to sell any of these products while offering some part of your profit as commission.

@ Uchek and abhosts

Don't misrepresent another person's views, he only said I don't think people will be willing to pay besides he says he stands to be corrected meaning that he isn't negatively minded nor has he said the business will fail.

@ Poster,

Personally both places are ideal places to start something of that kind considering that they have a number of highbrow towns and cities with folks who would want to learn as many international languages as possible (not forgetting that chinese is one of the official languages of the United Nations).

I'll advise you to choose prestigious private schools especially secondary schools where extra curricular activities are considered a very important aspect of student mind and social development. Offer your programme as a weekly or bi-weekly activity which the parents interested in will pay say N 8000 per term. If you can sign up 5 schools with enrolment of 30 students per school then we are talking N 1.2 million a term or N 400,000 a month.

Do some research yourself in order to verify my claims.

Good luck

Certainly it is possible here are some options;

1. As a web publisher writing articles on your own blog/website, you can write about things that valuable and informative to people that will find such things useful. For instance, Samson of http://www.lagos-nigeria-real-estate-advisor.com makes money from writing about real estate business in Lagos Nigeria on his website. He has signed up for adsense and since his website is theme based most of the adverts on it are relevant to his readers hence people are more readily disposed to clicking on them which means money for him.

2. Writing as a network blogger/member writer on a number of blog networks such as hubpages, squiddo and ehow depending on where you live can also fetch you money as you write high quality and very informative articles.

Nairaland is hardly the place to market a seminar considering also that you sound like you want to do us a favour.

Next time offer something valuable before trying to market a service. In addition might I also say money is a by product of productively engaging people in solving their problems.

Poster,

A very good and legitimate business to pursue online is blogging.

It is free and easy to start and is a form of real estate except that it is internet based and lacks physical structures

why not invest your time, money, knowledge and efforts into blogging

WEALTHYGUY

Be specific about the info you want. Do you want to learn more about affiliate marketing or do you simply want more posts?

For as little as $2500 you can start this business dealing in second hand cars.

Like someone rightly mentioned you can go places with it more on car dealership is available at my blog at:

http://lagosbusinesses..com/2009/09/sme-businesses-in-lagos-nigeria-part-1b.html

Very true indeed but affiliate marketing is for back-end visitors.

So if you have a website or blog that receives regular visitors than it will be good of you to promote another person's product to them.

However for first time visitors PPC is best.

Personally I'll advice you to invest in very basic fast moving products. I have a number of articles you might find useful on my blog www.lagosbusinesses..com

@Unclebros

I have an interesting article written on the subject of dry cleaning you could add some of the ideas I wrote in this article with the one you already have.

http://lagosbusinesses..com/2009/09/profitable-smes-in-lagos-nigeria-part.html

cheers and good luck.

Those of you lamenting and cursing, you violated a fundamental rule of investment which is not to risk money you can't afford to lose. Another mistake many of you made was to have invested without a strategy or exit plan.

Personally I have lost money too from the stock market but that is in very small amounts since I use an effective stock market strategy in cost Averaging.

The stock market offers the best return on any form of investment on the long term (I'm talking 20 or more years). Invest for the long term and short term woes will not bother you.

@saridon p

Don't mind that clown that wants to teach you forex.

If you wish to get a return on your idle funds from Nigeria, then you have several options,

If you are not very risk averse

1. You could pick a money market instrument like Treasury bills or fixed deposit and allow the interest compound with time.

2. You could also pick stocks to invest in as most of them are now very affordable and offer promise of stable returns for the medium to long term

If you are risk Averse

1. Try setting up an eatery in a commercial or densely populated part of Lagos

2. You could start a car dealership

woman wetin concern jazz with currency transaction?

wake up to reality you were duped because you were not vigilant.

My name is Paul and I own

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I also write about business opportunities in Lagos Nigeria at my blog: lagosbusinesses..com

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Which of the two would you prefer to work on the Island while living on the mainland or to work and live on the mainland?

The university environment being an academic one with a large number of people can have many thriving businesses for instance you could try;

1. selling stationery

2. purchase a fairly used photo-copier which you could rent out

3. Buy and resell recharge cards

4. Prepare special spiral bound tutorials in difficult courses

5. Sell soft drinks

6. Purchase a small printer for between =N= 13,000 and =N= 18,000 and ink for =N= 2000 print at =N= 10 per page

Among others

Well guess what everybody. Selling recharge cards is a highly competitive business not of course forgetting that margins are very low.

But someone has smartly said that it is a business of volumes, so the more you sell the more profit you make. By the way are you aware that for every N 10,000 worth of cards you sell your profit is between N 150 to N 600 (depending on the network and denomination).

so for those who think it is highly lucrative think again because sales volume is the way to go if you hope to smile to the bank and that is if your competitors are asleep

Well time has proved many sceptics and critics of the BRT scheme wrong. For instance, most Lagosian using the scheme agree that it so far is the most laudible of all transportation initiatives as explained in this post http://lagosbusinesses..com/2009/09/how-has-brt-improved-business-in-lagos.html

jude4new:
you can get traffic through article marketing and that is the best way to get traffic

Sorry bro, article marketing isn't the best way to get traffic to your blog. Search Engine Optimization is the way to go. At least my own blog has been attracting most of its traffic from search engines.

Would that include car accessories? Also you failed to leave your contact information. Also try and be specific about the kind of information you need.

My blog is lagosbusinesses..com.

On this blog I discuss challenges and opportunities affecting business in Lagos Nigeria.