5 small businesses that are lucrative

5 small businesses that are lucrative

This article is targeting the best 5 small businesses that are lucrative around us today in the present world.

Today, there are many businesses that you can start with little capital around the world that are very lucrative. They can yield results in just a few months of starting out. 

5 small businesses that are lucrative

With the advent of technology, it is now easier to reach a wider range of audience and prospective customers. 

There are over a thousand business ideas that you can start with relatively low capital that give you profits in folds in just a few months of starting out. 

 

If  you:

  • are a student and looking for small scale businesses that you can venture into
  • are a 9-5 worker that needs an extra source of income 
  • are a stay at home mum looking for ways to add extra income to support the household 
  • are unemployed and want to start a low income business that can grow to be relatively large in a short time 
  • want streams of incomes from various small scale business opportunities 

 

If you happen to find yourself in any of the categories listed above, then this article is for you. So, sit back and read along. 

In this article, we will be highlighting for you 5 small businesses that are lucrative in the world right now.

 

5 small businesses that are lucrative 

  1. Fast food business 
  2. Airtime / Data vendor 
  3. Okrika business 
  4. Dropshipping 
  5. Cake baking. 

 

1. Fast foods business

Today, fast food is a saviour in the lives of many 9-5 / office workers in the world as they tend to solve the hunger issues that many may be battling while still in office. 

 

Fast foods like snacks (sausages, egg rolls, pies, shawarma, doughnuts, etc), drinks like minerals, soya milk tend to offer a temporary satisfaction before finally getting home to eat their preferred meals. 

 

5 small businesses that are lucrative
Fast foods

 

You may even decide to take it a step further by eventually setting up an eatery or canteen and making proper foods with it as many may want to eat actual or proper food.

 

An icing on the cake would be to offer delivery services of your foods. In no time, you’d be their number one goto customers when they need your services.

 

With just little capital, you can start up your fast food business, and when it begins to grow, you may now eventually upgrade to an eatery 

How much do I need to start up fast food business? 

On a small scale level, and depending on the type of fast food you want to venture, nothing less than & ₦10,000 to ₦30,000 is enough to kick-start your fast food business.

 

2. Airtime / Data vendor business

Another business on the rise is airtime /data vendor services today. Many people that have started this business are really making enough daily on this business and living their best life. 

You may decide to build a blog /app for it yourself, if you can or have the grace to do so, or get any blog/app offering such services and you are good to go.

With just little capital, in fact with just ₦2, 000, you can start your data vendor business and when you eventually grow in the business, you can now decide to build or create your own blog/app for such services.

 

5 small businesses that are lucrative
Vtu/Data business

 

Another interesting service this blog/app offers is the ability to fund cable TV subscriptions as well. This is a practical example of killing two birds with one stone. 

 

How much do I need to start a airtime/Data vendor business? 

This indeed remains one of the small scale business opportunities you can start with the lowest capital you could ever imagine.

Apparently, capital as low as ₦2,000 is enough to kick-start your data vendor business.

3. Okrika business

Okrika business as it is fondly called today has been in existence for a few decades back. People tend to overlook this business because they did not have an idea of how much they could make selling fairly used wares. 

It usually ranges from selling fairly used cloths, shoes, cardigans, pullovers, etc.

Previous research done by our team shows this business is one of the most lucrative business ideas in the world. 

5 small businesses that are lucrative
Okrika business

 

Reason being that you can actually sell grade cloths at a relatively low price compared to new cloths, and taking the current economy situation of the world, this will actually ease people’s spending on wears.

4. Dropshipping

Dropshipping  is one of the most lucrative businesses (that is digitally run) in the world as of today. In our of previous articles, we discussed extensively how Dropshipping can be practiced and how lucrative it is to venture into it.

 

5 small businesses that are lucrative
Dropshipping business

 

What makes the business unique and less capital-inclined is that it doesn’t require physical space to fix your your wares or products as it’s basically an online shopping business.

5. Cake Baking

Is there any occasion(whether big or small) that doesn’t need a cake? Whether big or small one? None. This shows the importance and high demands of cake bakers in the world. There’s no day there isn’t any form of celebration: birthdays, promotions, weddings, anniversaries, house warmings. 

 

5 small businesses that are lucrative
Cake baking

 

You can actually learn cake baking in less than three months, in fact less than that if you are a fast learner. 

 

Conclusion 

As carefully explained above, the business ideas that are very lucrative which actually small scale are all available at our disposals now and how to run each have been carefully designed for you. 

 If you feel you need more insight or help in starting any of the above business, you can reach out to us in the comment section or write to us for further assistance. 

 

Pamilerin Ajala

Pamilerin Adetunji Ajala is a competent content writer with vast knowledge in content management, web development and graphics design. He studied Computer Engineering at Federal Polytechnic, Ede.

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