24+ Lucrative Online Business Ideas In Nigeria And Africa
The internet is an enormous equalizer in the business world especially with its impact in levelling the economic field. It has made starting a business an easy task and almost anyone can start a business without worrying about a physical store or capital. All you need are a smartphone, computer, a working internet connection and knowledge on what you want to do.
The internet has become the new marketplace where everyone can sell their expertise and knowledge to business owners or individuals. Yet, it keeps growing daily and the opportunities are endless. People need more services online and at the same time, this creates opportunities for business-related individuals.
So, if you’re looking to start an online business in Nigeria or elsewhere in Africa, here are 24+ lucrative online business ideas in Nigeria and Africa to start today:
1). Social Media Management:
Managing social media pages for small firms or large firm is a great lucrative online business. Most business owners do not know how to use content to achieve their various business goals. As a social media manager, it is your duty to create and schedule their contents and also to ensure that the contents help achieve their business goals.
Social media management requires you to gain some skills, but is a business you can start even from home.
2). SEO Consultancy:
SEO consultancy is a lucrative online business idea that has to do with educating business owners about the usefulness and importance of search engine optimization and also setting up their website SEOs to enable them to rank highly on search engines.
For you to stay on the radar, you need to hone your Search engine optimization skills regularly because the ranking algorithms will always change.
3). Small Business Consultancy:
Consultants help business owners achieve success through their knowledge and experience. As a small business consultant, you can help both new business owners and old ones. A business consultant helps business owners keep up and also helps them with a good start.
You must demonstrate expertise through your experience, skill, and content.
Telecoaching is the act of offering help, advice, guidance, support through virtual personal coaching. You put your knowledge and expertise into use by offering specific help in a specific area.
A coach should be intentional about his or her brand. People often trust someone who demonstrates expertise with a track record to show for it.
5). Web Development:
Web developers are those responsible for the visual user interface of a website. They are problem solvers with creative solutions. Web developers build eye-friendly easy to use websites for small and large business owners. They put their creative and technical skills to use for business owners and firms.
As a web developer, it is important to undergo continuous training so as to keep yourself updated. It also helps to have a website of your own.
6). Virtual Teaching:
Virtual teaching involves teaching people via digital means irrespective of distance barriers. This can be a one-on-one interaction on Skype or multiple class discussions on Zoom or Google meet. It can also be a prerecorded video of the teacher teaching a particular subject or concept.
By the way, it is important to demonstrate expertise via your social media pages. You can also share awesome reviews that your students share with you.
7). Graphics Design:
Graphics designers creatively visualize concepts and contents for individuals or corporate bodies. They visualize contents to communicate, captivate, entertain, inform, educate or inspire the audience.
You can offer your graphics design service to organisations and individuals for a fee per project. Even better, you can partner with web developers and ad agencies to design their projects for them.
8). Technical Writing:
Technical writers are experts who write technical manuals on machines. They convey the scientific results in written contents in an appropriate manner.
Technical writers that have background knowledge in sciences are at an advantage as prior knowledge will help them write top-notch technical content.
9). Resume And Cover Letter Writing:
Resumes and cover letter writing is a professional type of writing that involves creating compelling curriculum vitae and cover letters that employers want to read.
A lot of people now seek the services of professional resume writers, because they need their resumes to be in the best shape possible. As an expert, you can help people review their curriculum vitae or help them write it from scratch.
You need to consistently show others review from your former clients. Showing them reviews of people that had got their desired jobs from your written resume will make others trust you and it will also earn you returning clients.
10). Start A Podcast:
Podcast listenership and followership keep increasing daily because it is a medium that allows people to learn while they go about their daily lives. Starting a podcast now will allow you to capitalize on this lucrative online business.
You can start a podcast by talking about things that you are knowledgeable and passionate about. You can also invite friends or experts to discuss topics together.
The larger your audience, the greater the profit. You should try as much as possible to add a little humour so your audience can stay glued.
11). Start A YouTube Channel:
This lucrative online business is about using your creative communication skills through visual media to build a following and make some money on your YouTube Channel. Your content would have to be educative, entertaining and informative, depending on your selected niche.
12). App Development:
A lucrative online business idea is mobile application development. An app developer creates mobile applications for smartphones.
As an app developer, you can create mobile apps for yourself or help a business owner create mobile apps for their businesses.
Before you can start developing mobile apps, you need to know how to program applications for largely android and IOS devices
Whether you’re developing apps for yourself, brands or businesses, you could earn a consistent remarkable income.
13). Network Marketing:
If you have a knack for marketing and can flawlessly convince people to buy products or join your network, network marketing might just be the best option for you.
Network marketing involves selling products on behalf of manufacturers and convincing people to register under you as retailers too.
Once you can generate a strong downline, you’ll earn a steady flow of income because you’ll get commissions from all sales made by everyone in your network.
This online business idea which mostly starts as a hobby for most people is getting more popular on a daily basis.
If you love writing, owning a blog can be a great fit. As an upcoming or professional writer, you need to be consistent and offer value on your blog, so that you can have a massive audience.
Some ways to earn an income blogging are to sell online courses, sell advert spots, sponsored posts, offer professional services, and much more.
15). Become A Virtual Assistant:
Virtual assistants are people with great organizational skills and the ability to manage tasks effectively. They also have basic administrative skills like inputting data, answering phone calls, making travel arrangements, responding to emails, and much more.
16. Proofreading And Editing Services:
This lucrative online business idea has to do with editing web content, documents, and books for individual or corporate bodies. The proofreader will help individuals or corporate bodies dot their i’s and cross their t’s while at it. In fact, proofreading is not limited to content written in the English language. If you are fluent in other languages, you can edit content written in other languages.
A proofreader must express themselves in text fluently so that clients can trust their skill and content.
Dropshipping is a lucrative online business idea that involves selling products without owning a stock or warehouse. The only thing to focus on as the seller is to find customers and network with third-party vendors. Once the seller finds customers, the dropshipper sends the goods directly to the customer.
All the same, you need to make good use of your social media pages for advertisement.
Sharing your client’s reviews on your social media pages will boost your credibility.
18). Financial Consultancy:
If you are good with numbers, you can start an online business as a financial consultant. A financial consultant helps individuals and business owners make informed decisions as regards their finances. As a financial consultant, it is your role to help clients develop budgets and expense trackers.
For this online business idea, it is important to have a good knowledge of finance.
A financial consultant should have experience and proven expertise with positive results.
19). Newsletter Service:
Newsletter service involves sending out valuable emails to people for businesses and brands. The content of the mail could be educating, entertaining, or informative, but is aimed at leading the target audience to convert.
You can monetize your newsletter by asking subscribers to pay a certain fee before joining. More so, you can decide to make it free while you sell your other services to them as your network increases.
Spice up your content with a little humour or your personal story, people will read more as people love humour and interesting gists.
20). Travel Consultancy:
Travel consultants help individuals, families, groups or organisations find the best travel options. They come up with suggestions for vacations or any other functions while the clients make their choices.
In some cases, the clients give details while the consultant comes up with a location.
A broad travel experience and knowledge of different places around the world is a good show of expertise that will help build trust.
Photography has been around for decades and people have always made money from it, especially as a traditional physical job. Today, the narrative has changed. Anyone with the right skills can now start a photography business with or without a camera.
However, for quality output, you need a standard camera, a laptop computer for editing and a digital portfolio.
22). Software Development:
Software development is a highly lucrative tech-based business. It involves developing software tools and applications for mobile phones, computers and other related gadgets.
To excel in software development, you need an in-depth knowledge of programming. Once you’ve acquired the requisite skills, you can create software tools for tech companies.
23). Affiliate Marketing:
People with huge followers and a standard online presence can convert their large followership into money by being an affiliate marketer.
Whether you’re a website owner or a social media influencer, if you have a wide reach and can influence them, you can earn money as an affiliate marketer.
All you need to do is work with ad networks and brands in your chosen niche, put up their products or links on your platforms and use great copyrighting to sell to your network for a commission on every successful sale.
24). Ebook Writing:
If you’re a creative writer, this is a lucrative online business idea for you. You can write interesting ebooks on any topic of your choice. The book might be business-related, a memoir, a self-help book, etc.
But what matters is that it has value to offer. After publication, you leave it to a distribution company to see to the marketing and distribution process.
To make it easier, you could publish your works on ebook platforms such as Amazon, Okadabooks and others. Once this is done, you can make money for as long as the book remains available for sale.
25). Forex Trading:
Forex trading is the act of trading currency online. It is generally said that forex is highly risky, but with knowledge, consistency, extensive demo trading, and the ability to predict trends, you could build a successful business.
Unlike traditional trade, forex trading is done online from wherever your comfort zone is.
To Sum It Up
To sum it up, starting an online business can be lucrative and exciting, as it can offer financial independence and security if done right. But before you start an online business in Nigeria, Africa, or anywhere else around the world, you should gather as much information as possible about the niche you want to start one in and be certain that it is best suited for your current skillset and time to execute successfully.
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What are your thoughts on these lucrative online business ideas that you can start in Nigeria or anywhere else in Africa? Let me know by leaving a comment below.