Top 4 Small Businesses That Can Make You a Millionaire in Nigeria

Top 4 Small Businesses That Can Make You a Millionaire in Nigeria
Image Credit: Udeozochibuzo Blog

Every business owner expects his business to generate huge returns –probably in multiples of millions. Thousands of businesses can earn you millions but in many cases, this depends on your capital layout, the business type, the business location and other business circumstances.

Some businesses have grown substantially in Nigeria and the result of this is great wealth for those running them. In this article, we have come up with some of the small businesses that can yield you millions of naira.

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Car Washing

This business is cool and easy to run but it requires shrewd management and decision-making so as to yield profit on a continuous basis. To get started with this business, it’s not necessary that you be a washerman. Just get a viable location for the business and ensure there is a source of sufficient water. After pooling your businesses resources together, just employ some washermen –depending on what you can afford to pay and the number of customers you have at hand. Constructively, ensure this kind of business is located in a city especially where white-collar professionals are many.

READ ALSO:4 Reasons for the Failure of a Business

Rice Farming

No Nigerian will contradict the fact that rice is the most-consumed food staple in Nigeria. Due to heavy consumption, the demand for rice in Nigeria is relatively larger than its supply. Currently, rice is one of the most dominant import products in Nigeria simply because the domestic production of rice is not encouraging. If you can channel your investment into large-scale rice farming, you surely have the chance to make quick turnover and become one of Nigeria’s millionaires.
Sale and Distribution of Construction Materials

Day by day, people build houses and regarding this, the demand for construction materials will forever increase. Setting up this business does not really require huge capital. All you need is to secure a location for your business and then get a vehicle to help deliver construction materials such as cement to customers.
Estate Management

Estate management is a great source of substantial profit and it is one of the businesses that have produced Nigerian millionaires. You could think of earning big by dealing in landed properties because landed properties are assets that will appreciate over time.

Candidly, estate management is one of the few businesses that rarely generate losses because the better a place, region or city develops, the higher the value its landed properties command.


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