3 Online Business Ideas in NigeriaAugust 23, 2022 2022-08-23 19:13
3 Online Business Ideas in Nigeria
Table of Content
- Introduction to 3 online business ideas
- Table of contents
- Here are some online business ideas in Nigeria.
- More information
- FREQUENTLY ASKED QUESTIONS
- What online business can I be good in?
- How much do I need to start an online business?
- Do I have time and resources for an online business?
- Who needs my business?
- Where is the best location for my online business ideas?
- What Payment methods can I use?
- Do I need any Technical know-how?
- What Contents do I need?
Introduction to 3 online business ideas
Today we will be looking at 3 online business ideas that can support you main income , you might have a full-time job and you want to make some extra cash or you are unemployed and don’t know what to do, well I can help you utilize your time profitable. Considering these online business ideas is the way to go in NIGERIA. If you are open to new ideas, I believe that I can present to you some online business ideas to supplement your finances. With the way things are going in Nigeria, it will be wise to have an online business in place because most people spend their time on the internet.
When we are through with this article, I will show you how to start an online business with low or many capital. You will be better informed.
Table of contents
- Affiliate marketing
- Online Videos
- Social media marketing
- Flip domains and websites
- Start a mini web hosting business
- Online shop or drop shipping
- Web Design
- Teaching an online course
- More information
The internet gives you a level playing field. No one on the internet care who you are, how connected you are, who your father is, how rich you are or where you come from. It is about what you have to offer.
According to various research and established statistics, people are spending more time on the internet than anywhere else. Billions of people around the world use the internet every day. people want
• Information about, who, why, when, how
• location for goods and services and
• how to get access to such desired goods and services via online business.
This cuts across all ages That opens up a big marketplace and opportunity to reach them, your potential buyers or subscribers with your business here are some other contents you can read on online business in Nigeria
Here are some online business ideas in Nigeria.
blogging is top of the best online businesses to start in Nigeria. This online business is such that anyone can start and make money from it. Starting a blog help people who need information and entertainment on the go. the modern generation doesn’t read newspapers or magazines, that’s the old school they are being replaced by blogs.
Starting up a blog, unlike starting up a regular newspaper or magazine is capital effective, easy to maintain, and requires little expenses such as running costs.
Blogging is all about information sharing
If you are well knowledgeable about a particular topic and you want to share it, you can start a blog and make money. Whether it is news politics, entertainment news, celebrity gossip, business, sport, technology, reviews, food, health etc.
Once you start having frequent visitors on your blog, that means that your blog is the go-to place for information, then you can start making money with it from Google Adsense, Affiliate marketing, Product advertisement, and much more.
growing your audience will be tough, but if you are motivated you will be making over $1000 a month
Creating a blog is easy and it should not take you much time to create one. Use a self-hosted blog site, that way you can customize it, host it and get paid for it.
Getting a Domain name should cost you will cost you little capital. Hosting your blog could be monthly or yearly. But its always advisable to pay for a year upfront
2. Affiliate marketing
This is a very profitable online business. This is one of the best legitimate online businesses in Nigeria. Affiliate marketing is all about referring people to buy a product or service for a commission and you do not need to have any product physically.
Just by recommending products to people and getting paid for your effort. You are given a link that you share with your audience.
Confused, let me explain.
Company A wants to sell their products online but doesn’t know how. That is where you come in. on your website or channel you help them advertise their product for a commission. easy rite. Imagine company A want to sell wristwatches at N50k and your commission is 10% that means you get N5k for each person who buys via you’re the link on your website or channel. Let’s assume you recommend the product, You share your links and 1000 people buy the wristwatch, that is N5K X 1000 people which is equal to N5 MILLION NAIRA. That right, cool money
The Affiliate marketing market is worth billions of dollars INDUSTRY,
Nigeria is still a growing market in that aspect.
To become a successful affiliate marketer, you will need to target a genre, for a particular product or industry in a particular location. Then create a niche blog about that product or industry and recommend their products.
There are lots and lots affiliate marketing networks that you can join and start making money by promoting the company’s products. Examples are
Aliexpress affiliate and more.
Another very profitable online business in Nigeria is freelancing.
Freelancing is all about working from home. If you have any skillset that is in demand, you can become a freelancer and make good money.
This online business is very good for students and those who have part-time time businesses. It is a very lucrative online business., Freelancers can make money in a $1 billion industry Many skills are much sought after. It could be article writing, graphic design, typing and proofreading, language translation, desktop publishing, code programming, video editing, and social media skills etc, the list goes on.
freelancing jobs are as follow
• People Per Hour and many more.
4. Online Videos
Online Video business also known as V blogging another way anyone can venture into and make money from. Have you heard about YouTube? Am sure that you have. YouTube gives you access to content like music video, some comedy skits, and football highlights which IS V blogging is all about.
Do you know that YouTube is the second most used website on the internet after Google Yes, YouTube is used by people worldwide. YouTube is all about video sharing. Only videos. If you have a passion for making videos about a particular product or subject or location, then you can start creating them and uploading them on YouTube. There are some areas you can create videos it and money. For example
• comedy skit,
• short movies,
• talk shows,
• football reviews/previews.
• DIY life hacks video games preview and reviews,
• Entertainment news,
• politics, tutorial, fashion.
Build your audience and you can start making money from it via Google AdSense, Affiliate marketing, etc.
If you are looking for online businesses in Nigeria that you can start with little or no capital, then try V Blogging.
5. Social media marketing
On the internet, most people are on one social media site or multiple sites at the same time hence we have a larger ready market. Social media. Like YouTube, Twitter, Instagram, LinkedIn, Snapchat Facebook, etc.
It has been proven that companies that have good social marketing strategies have increased their sales by over 100%. Social media marketing is all about selling the product to potential buyers or subscribers. The downside of social media marketing is that larger business to run ads on such social media sites while small businesses struggle to keep up.
You will make a lot of money helping small businesses use social media to reach their potential customers
6. Flip domains and websites
This online business is all about buying and reselling domain names or websites.
For this to work, you must have an understanding of web designing and optimization.
Now website and domain flipping is all about marketing the popularity of a website hence marketing the amount of online traffic to the site to would-be buyers who need a readymade traffic-enhanced website
Buying existing domains with good prospects is a good idea. You can keep them and resale them. You can also build websites and run them for some time in order to build up the site and increase its popularity and traffic then resale it for profit. It will take time but it is very profitable in the end.
Here are places you can flip domains and websites at sites like Flippa, Sedo and more.
Flippa is the most popular site to use to flip domains or websites
7. Start a mini web hosting business
A lot of businesses, organization, and individuals are looking to bring their products or ideas out there online. most small time businesses don’t have an online presence, hence they cannot utilize the full potential of being online.
To build a website, you need a little technical knowhow-how about a web host. Then you can scout potential clients to help them advertise their business online.
To run a mini web hosting business, you will need a very good computer, an internet connection, and a big server. In the case of a server, you rent to rent one because you can afford to buy a server and run it.
8. Online shop or drop shipping
This is one of the easiest ways to make money online all you need is an online shop and you are good to go. In Nigeria, the biggest online shops are Jumia and Konga.
You don’t have to have all the products with you. You just need to know what you want to sell, the age class you want to sell to, and the location where such products will thrive best in. you can then create an online shop, and showcase your products You can also source products from different people and sell them online.
In dropshipping, you can still sell products online even If you do not have the money to buy products or run a warehouse all you have to do is create an online shop. Look for major suppliers of products that you want to sell, and copy their inventory. Display this on your online shop and watch customers make orders.
You can use site like WooCommerce and Shopify to Create an online shop
9. Web Design
The demand for new websites for new or existing businesses can’t be over-emphasized. There are billions of websites created on the internet and millions more are being added each month. In Nigeria, website design is a thriving business as more businesses and organizations look to have an online presence in order to use the internet to sell their product.
To be a web designer, you need to have a knowledge of coding and programming. learning web designing coding and programming online is almost free these days.
With web designing, you can create a website for your business, for small-scale businesses or companies and advertise it on social media. Practicing your skills will lead to better customers and greater returns
10. Teaching online course
Can you teach? can you impart knowledge, are u audible and clear, do you have mastery on a particular subject or topic or even skill, then creating an online course is your best bet to making money online. Whether it is writing skills, web designs, business management, how to play instrument, how to cook. People are willing to learn online more than ever before.
You can make money per topic, per download and per subscribers
The two biggest sites that enable you to make and sell courses are Udemy.com and Teachable.com
The advantages of having and running an online business are as follows
- Online business is also cheaper to maintain.
- It opens up big possibilities and gives you a bigger reach than regular business
- ready market in place
- you are your own boss.
- Your identity is secure
- The product sells itself.
Things needed to start an online business in Nigeria
- Little or much Capital depending on the nature of the business.
- A very reliable Internet connection
- Laptop or personal computer or a mobile phone
- A very reliable Power supply
- The Business location could be your office or the comfort of your home.
- Payment options
- Logistics. this entails the use of despatch riders, postal services or shipping.
There are so many ways of making online you can also see this video for further information you can also check out this link https://studentmajor.com/business-ideas-for-students/
FREQUENTLY ASKED QUESTIONS
What online business can I be good in?
- You need to know your strengths and ability to follow through with the business. This also has to do with available capital or lack of, and other factors. This is a very important first step towards having and running an online business in Nigeria.
How much do I need to start an online business?
- Capital plays a very big role in your online business goal. In some cases, some online business just needs technical know-how and little capital to start, while others require a sizable investment to get the business off the ground.
Do I have time and resources for an online business?
- You cannot expect to start an online business without taking into consideration the time you need to dedicate to the online business be it funding to keep the business running or payment for logistics.
Who needs my business?
- Before creating an online business, you need to research your target audience, the age range, location that your online business can grow in and you need to make sure that your business is filling in a gap. You need to also know how to also bring products to customers via you for a commission.
Where is the best location for my online business ideas?
- Having the knowledge about your target audience is key. And knowing the location of your target market is another key. In this way you can prepare better for the market
What Payment methods can I use?
The best payment options available are bank transfer, payment merchants like Paypal, skrill, or Netteller, and even through cryptocurrency.
Do I need any Technical know-how?
Web designing for example need a basic knowledge of coding and programming. Creating an online cooking video needs a skillset in cooking etc. to run a successful online business, you can learn a course or a skill to make your online business work.
What Contents do I need?
To drive traffic to your online business, you need to be creative about your content, mission goal, delivery, and payment, the goal is to make it as simple and as seamless as possible
Making money online is very profitable if you are dedicated and motivated
Be it blogging, v blogging, Affiliate marketing, creating Online Videos, Flipping domains, and websites, etc, one can make a sizable income with low capital or medium capital. Most of all one needs a functional computer and a very good internet connection in order to make it. A lot of planning goes into making money online and running the business. Also knowing your target audience will go a long way in achieving your goal, filling in a gap for a need will be the deciding factor in your business.