There are fast moving businesses in Nigeria and there are businesses in Nigeria that are slow. The fast business in Nigeria always makes profits fast thus making it easy to expand the business and make the passionate entrepreneur a millionaire. This is why many Nigerians today love business ideas that move fast and they want to start such business ideas because they know that it will yield them fast return in no time.
So today, I am going to be sharing with you the top ten fast businesses in Nigeria that you can start with little or large capital to make good profits. Are you ready?
What is a Fast Business?
Fast moving business is a business idea that moves fast based on the high demand for its products or services. Fast moving businesses can be capital intensive (require huge capital to start) and they can require a small capital to start. It depends on the kind of fast business an entrepreneur wants to start, how big he or she wants the business to be, and the capital available at hand.
Top Fast-Moving Business Ideas in Nigeria
Here are the top fast business ideas in Nigeria to start today.
1. Soft Drinks Business
This business idea is a fast business in Nigeria. And it moves fast due to the fact that people or humans cannot do without fluids. Due to the hot climate in Nigeria, there is a constant need for hydration and we must always drink lots of water or soft drinks to replace our lost glucose. In fact, it is only during the rainy season the consumption of water or soft drinks reduces.
Another reason why the soft drinks and pure water business is a fast business idea in Nigeria is that these fluids are also in high demand at parties and ceremonies to welcome guests. Think of it. There are no parties you attend today and you will not be entertained with drinks. These reasons are the reasons you will never make losses in this fast business as long as you are in the right location.
You can start a drinks business with low capital if you just want to sell to consumers directly or you can start a drinks business with high capital if you want to sell your drinks wholesale. Read our article on how to start soft drinks business in Nigeria.
2. Foodstuffs Business
This is another fast business in Nigeria due to the undeniable need for every food. No one can survive without food and due to this foodstuff business has become a lucrative business in Nigeria. The business is so fast that you can sell all the foodstuffs you have within the fastest time. In fact, if you want to start a business today that can get you back the money invested in three to six months foodstuff business is the business you should start.
To start a foodstuff business you will need capital and the capital needed ranges from how much you can afford to start with to millions of Naira. Read our article on how to start a foodstuff business in Nigeria for more tips on this.
3. Provision Store Business
A provision store is also the same as a grocery store. A provision store business is also a fast business in Nigeria because it deals with the needs of Nigerians. In a provision store business, you will sell toiletries like soap, toothbrushes, perfume, foods like spaghetti, fashion items like shoes, bags, and other important items that it is impossible to leave without.
The grocery store business is so fast in Nigeria that you can start making money from it even from the first day of business. And if you are serious about it and you continue to keep proper records and accounts you can start opening branches sooner than you expect. You can start a small-scale or a large-scale provision store business depending on the capital you have at hand.
Provision store business is a business idea in Nigeria that is very fast but it is not a business for a lazy person. Read our guide on how to start a provision store business in Nigeria.
4. Phone Accessories Business
About 80% of Nigeria’s population uses mobile phones and due to this the mobile phone industry or sector has now become a multi-million naira industry. In fact, the huge demand for phones by Nigerians increases daily and this has caused a corresponding demand for phone accessories. Except at one point or the other these phones do not need accessories like a charger, earphones, phone casings, and more.
The phone business is a fast business in Nigeria because many Nigerians cherish phones and phone accessories. They will go to any extent to use good phones and phone accessories. To start this business idea in Nigeria you need a minimum capital of ₦300,000. You can start by buying your phone accessories from the Alaba market to sell to your customers in your area. Read this article on how to start phone accessories business in Nigeria.
5. Recharge Card Business
Recharge card business is a fast business in Nigeria due to the huge population of Nigerians using phones that need to make calls. You can sell virtual recharge cards or data at cheaper rates to attract customers in this profitable business. To start a lucrative recharge card business you will need capital to sell recharge cards at wholesale.
You can start a wholesale recharge card business in Nigeria with ₦50,000 – ₦100,000. The recharge card business is a profitable business idea in Nigeria if you are also at the right location selling your recharge cards. For example; major junctions or bus stops in your area. Check out our post on how to start recharge card printing business in Nigeria.
6. Egg Distribution Business
Due to Nigeria’s huge population and the high demand for quality nutrients egg business has become a fast business in Nigeria. With a small capital, you can start an egg business to start selling eggs to homes and other food businesses around you. To start an egg distribution business in Nigeria you need to look for local poultry around you and start buying eggs from them to resell.
Or you can simply start your own layer poultry farm strictly for the purpose of selling eggs. On a good day depending on the capital invested into your egg business you can make ₦5,000 – ₦20,000 daily. I have written a detailed article on this you can simply read it if you are really interested in this fast business idea. Read our article on how to start egg business in Nigeria.
7. Cosmetics Business
Do you know that according to Nigeria’s latest estimated population women are more than men? Asides from this, more of this female population are youths, young girls, or ladies. These young girls want to look beautiful. They want their skin and hair to glow. So this means that there is a high demand for cosmetics in Nigeria thus the need for the cosmetics business.
Cosmetics business is a fast business idea in Nigeria because there is always a constant need for cosmetic products in Nigeria. To start a cosmetics business in Nigeria you need capital. This capital will be used for your cosmetic products and equipment, and to rent a shop. Read our article on how to start cosmetics business in Nigeria.
8. Wig and Attachment Business
This is another fast business in Nigeria due to the current fashion trends in Nigeria and the world. We all know Nigeria moves with America and the UK when it comes to fashion trends. With the new changes when it comes to women’s fashion, there has been a huge demand for wigs and attachments. You can start a wig business in Nigeria today with a small capital or a big capital and start making profits fast.
The wig business is a fast business idea in Nigeria for single women or married women. Read our article on how to start a hair extension business in Nigeria.
9. Restaurant Business
This is another food business in Nigeria that moves fast. If you have a restaurant in a busy state like Lagos you will always make money day in and day out. To start a restaurant business in Nigeria you need a huge capital except you want a mama put business instead. This capital will be needed to buy foodstuffs, cooking equipment and to pay for your shop rent.
Starting a restaurant business can be very tasking and this is because the taste of food and quality of service must always remain the best. If you are not strict on your taste and customer service customers will not patronize you. When you are starting your restaurant business it is very important you get your location right so that you will continue to have a huge flow of customers.
To get your location right you have to make sure your restaurant business is located at a major road or bus stop. Read our post on how to start a restaurant business in Nigeria.
10. Laundry Business
The laundry business is a top fast-moving business in Nigeria too. Due to the very busy schedules, many Nigerians have and the current working-class population. There has been an increase in this service-rendering business in Nigeria. You can start a professional laundry business from your home if you do not have enough capital to rent a shop. To start a laundry business you need capital.
This capital you need depends on whether you want to start a small-scale or large-scale laundry business in Nigeria. How much you can also charge per cloth depends on the kind of cloth. For example; the amount you charge for washing a bed sheet can never be the same as the amount you charge for washing a t-shirt. Read this article on how to start a laundry business in Nigeria.
Starting a fast business in Nigeria is easy, however, it is not easy to sustain the businesses as these fast businesses need continuous attention. You can also run these fast businesses for a while just to make some money and later close the business. It is totally up to you. But, I will advise you to continue running the business especially if the fast business idea is a business that you are passionate about.