15 Hot Business Ideas – These hot business ideas should get your entrepreneurial profits flowing and set you off on your merry way to startup success.
Here are Hot Business Ideas you might find interesting.
1. GOAT FARMING BUSINESS
The goat farming has been rearing since ancient times.
Generally, goat farming means raising goats for harvesting milk, meat, and fibre.
Nowadays, goat farming has become a hot business.
A Goat is a small ruminant reared in various parts of the world. Mostly in African countries, including Nigeria, Ghana, Togo etc goats are kept by farmers and families for domestic and commercial purposes.
Goat meat is very popular throughout the country and has a great demand in local restaurants, hotels and the head sells like hot cake in canteens.
Due to the high demand for goat meat and other products, there are great opportunities for establishing a commercial goat farming business.
You can get wool, leather, meat, and manure from your goat business. By the time you sell 6-10 goats, you have gotten back the capital for the business and the rest becomes your profit. There is always room for expanding your farm.
GESTATION period in goats lasts from one to 150 days, a goat farmer said, adding that goats attain market size that is fully mature between eight and 12 months, but could get up to 18 months if not properly fed.
Goat farming is a good agricultural business. Apart from housing, the cost of stocking is less capital intensive than cattle, and can bring good returns on investments with full understanding of the market.
2. DOG BREEDING BUSINESS
Dog breeding is the practice of mating selected dogs with the intention of maintaining or producing specific qualities and characteristics.
When dogs reproduce without such human intervention, their offspring’s characteristics are determined by natural selection, while “dog breeding” refers specifically to the artificial selection of dogs, in which dogs are intentionally bred by their owners.
If you have experience in dog breeding and want to produce quality dogs that enhance their breeds, then starting a dog breeding business might be a rewarding opportunity, Dog breeding can be a profitable business.
If you are a lover of a four-legged animal, starting a dog business will be easier for you.
A healthy dog can live for 10 to 12 years. Think of how much money a single female dog will make you if you care for it well.
The gestation period is between 58 to 65 days (2 months and a few days) and it can give birth to as many as 10 – 15 healthy puppies.
3. RESTAURANT BUSINESS
A restaurant is a business establishment which prepares and serves food and drink to customers in return for money, either paid before the meal, after the meal, or with a running tab. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services.
People go to restaurants to spend some memorable moments with friends and family while enjoying food. Still, many entrepreneurs either abruptly close their restaurant business or they are not satisfied with its performance.
Most of them fail because they do not adhere to some basics of operating a restaurant business and end up losing their customers to the competitors.
A majority of restaurant owners wrongly believe that if a restaurant serves good quality food, then that is enough to run a lucrative business.
Good quality of products or services is something basic. Beside the quality offerings, you need to turn your restaurant business into a brand that people can trust.
Many restaurants fail to explore their full business potential. Several surveys have found that the failure rate in the restaurant industry is actually very high.
The demand for prepared foods in many African towns and cities is massive and no one restaurant or fast-food chain may be able to satisfy the market.
4. TRANSPORTATION BUSINESS
In today’s world, The transportation business touches far more of our lives. When you think of transportation businesses, you might think specifically about taxi companies, bus services or car rentals, but there are so many other options that you might not be considering. Any time you’ve rented a car, bike, or limousine you’ve interacted with a transportation business. There are also other businesses like shipping, importing, exporting, transportation services for seniors, taxi services, and more.
In addition to food, clothing and shelter, transportation is one of the most important needs of man.
People use the road to move from home to office, school, market, business places, meetings, village, religious events in fact the list is long.
One of the businesses that require little effort being put in place regarding marketing is the transportation business. The demand is high and on a daily basis. Your prospective customers are always looking for you to transport them.
5. LAUNDRY SERVICE BUSINESS
Laundry business popularly referred to as dry cleaning business involves the washing, drying and ironing of clothes and other textile materials for individuals or companies. It is a very profitable low risk business anyone can do for profit. You can start small and grow.
Every year and between work, family, school, travel, and other social engagements, life can get very busy.
Commercial Laundry Service is an innovation that can save us both time and stress at an affordable price.
Laundry business is one of the lucrative business ideas in Nigeria that you can tap into its high profit rate. There will always be prospective customers in this business especially if you manage your customer relations well.
6. POULTRY FARMING BUSINESS
poultry farming, raising of birds domestically or commercially, primarily for meat and eggs but also for feathers.
On hearing about poultry farms, chicken and eggs quickly come to mind.
However, poultry farming can be defined as the process of raising various domestic birds like chicken, turkey, emu, ducks, geese, etc. for their eggs, meat, or even their feathers.
Poultry is one of the food items that never recedes in demand.
7. WATER PRODUCTION BUSINESS
Water is one of the highest consumables in demand worldwide, and its importance is beyond human imagination.
Pure water or bottled water is in high demand in homes, schools, institutions, offices, churches, hospitals, public gatherings, etc. As long as you can find humans there, water is needed. So, if you can meet the demand for clean and affordable drinking water, this business idea is for you.
No one is an enemy of water as it is essential to life. Medical Doctors suggest that you must consume at least 8 glasses or 2.5 litres of water in a day. Take note that it is at least, obviously more can be taken in a day.
Bottled water or pure water business is portably packaging water in a bottle or sachet for human consumption. It is done through the process of water purification and portable packaging. The process includes different steps like setting up a factory and investing in purification equipment.
The business is very lucrative be it in the rainy or dry season, water business sells.
8. PALM OIL BUSINESS
Palm oil is an edible vegetable oil derived from the fruit of palm trees and it is reddish in colour. It is a native oil with rich components found in Nigeria and some parts of Africa. Palm oil can thicken when you store it in a cool place for a long time.
A lot of people know palm oil to be used for cooking. Beside using palm oil for cooking, it is also used in making all variety of things such as: soda soap, toilet soap, margarine, body cream and cosmetics.
The popular sector to make cool money is the oil business, yes palm oil business this time around, and not only the oil and gas sector.
The palm oil business is one of the lucrative businesses in Nigeria because of its diverse usefulness and the huge profit involved. In Nigeria and some other African countries, palm oil is one of the essential needs for cooking most meals. The interesting part is that every part of the palm tree (fruits, leaves, trunks, and sap) is used for different things.
9. FISH FARMING BUSINESS
The fish farming system is the system in which fishes are reared for sales or for consumption. In other words, Fish farming is an act of rearing fish for commercial purposes.
Over the years, fish farming has become a lucrative business in the agricultural sector of the world.
Commercial fish farming has already been established as a profitable business venture throughout the world. Fish is a great source of food and protein.
The demand and price of fish and fish related products are also increasing rapidly, in accordance with rapid population growth. This is the main reason for increasing this business around the world.
Almost all countries around the world are somehow suitable for fish farming business. But the countries with coastal areas are very suitable for this business.
The fish farming business is very lucrative and you can be successful if you are determined and can also employ the right strategies in the business.
10. PRINTING PRESS BUSINESS
Starting a Printing Press is also one of the most profitable business ideas in Nigeria and some other countries too. Some businesses will naturally sell themselves because of the fact that they will always be needed in the society.
Schools, government organisations, private sectors and individuals will always have a need to make use of a printing press service.
Operating a printing business requires a few specialised pieces of equipment, and can be operated as a home-based, storefront or online business. Printing businesses can be specialised and cater to different needs.
Types of printing businesses include vinyl sign printing, screen-printing t-shirts, printing of business cards, brochures and documents, election ballots.
Know what type of printing you want to specialise in and plan accordingly.
11. REAL ESTATE BUSINESS
Real estate is a property (consisting of land or buildings) or a huge collection of properties. On the other side, the real estate business is the process of buying, selling, or renting a property, building, home, or land.
Real estate agents assist homeowners, businesses and investors buy and sell all four types of properties.
People are always in need of residential apartments, office buildings, and commercial outlets. They look to either buy or rent buildings and structures of their choice, and they sometimes need to consult a real estate agent or expert before making their choices.
However, In order to be successful in this industry, you should have good knowledge and information in this industry.
12. CAR WASH BUSINESS
There are millions of cars on roads, most if not all of them need cleaning, and the majority of car owners are working-class citizens who barely have time to wash their cars, which is where the car wash business owners come in.
Car wash business, if well set up, organised and managed, can yield you a lot of revenue and create jobs for others.
Photography is the art, application, and practice of creating durable images by recording light, either electronically by means of an image sensor, or chemically by means of a light-sensitive material such as photographic film.
The photography market is competitive, many photography business owners have been able to find their niche and build a sustainable career. Like most creative endeavours, you need to balance your passion for photography with real business skills in order to be successful.
Starting a photography business allows you to make money using a skill you already enjoy, but it’s important to have a solid plan and realistic goals.
There’s no doubt that photography is a great career – you can earn a good living, make your own hours and travel to exotic places.
Best of all, you’ll make people happy. Whether you’re capturing priceless moments for families or nailing the client’s brief, photos are a precious commodity.
14. LESSON/TUTORIAL CENTRE
Having a tutorial Centre is one of the profitable businesses, mostly in Nigeria.
People who have extra tutorship have the advantage of being ahead of their peers in exam preparation and planning. Every student and parent wants success in different examinations they write.
A tutorial Centre could cater for professional and non-professional exams and also exams like the WASSCE, NECO, GCE, JAMB, university aptitude tests, TOEFL, A-Grade, IELTS, to mention a few, or professional examinations like ICAN, ICMP, CCNA, ORACLE, RICS, GMAT, etc. as well as foreign language tutoring.
15. FREELANCE WRITER
A freelance writer is someone who gets paid to perform writing work.
It’s that simple.
Where people get confused is that freelance writing is a blanket term that covers a ton of different types of writing.
Some examples of freelance writing, including:
– Email writing
– Business to Business writing
You can make money in countless different ways (affiliate marketing, selling your own products, selling digital information, selling ad spaces, advertising networks like GoogleAdsense, sponsored posts, and many more).
All you’ll ever need is a smartphone, or laptop, and an internet connection.
More businesses are discovering how much opportunity an online presence creates. If you want to work as a freelancer, Web design is one hot skill in high demand.
Creating a business around web design skills is one of the business ideas that youths can get involved in.
Brands capitalised on people’s heavy reliance on web-based solutions to offer their products online, hence, creating their business website.
Many businesses still prefer to hire a qualified and competent web designer to build and manage their websites. As a result, many web design jobs are and will continue to be available.
Did you know that you can build professional, visually – appealing websites without having to learn to code? Web designers are not only responsible for building a website, but also the functions and smooth running of it.
The business of designing websites has numerous advantages among which are: can easily be done from home or anywhere you have Internet access, it is highly demanded, no specific educational requirements are needed and its flexibility.
Having a website means customers are always able to find you – anytime, anywhere. Even outside of business hours, your website continues to find and secure new customers. It offers the user convenience as they can access the information they need in the comfort of their own home, with no added pressure to buy.
At its simplest, a website provides a quick and easy way of communicating information between buyers and sellers. You can list your opening hours, contact information, show images of your location or products, and use contact forms to facilitate enquiries from potential customers or feedback from existing ones. You can even upload promotional videos to really engage your customers and sell your business in an effective and cost efficient way.
This is also a good way to promote your social media channels and build up a community with your customers.