In this information age, there are a good number of online business opportunities you can venture into right at home in Nigeria.
Going into internet business opportunities is a great move that comes with a lot of benefits and one of the easiest ways to be self-employed that require a very low capital to start.
But the little problem most people face is figuring out what is the best online business ideas in Nigeria to start are.
You might have read about affiliate marketing and sales, or somebody mentioned Jumia commission from a discussion. And, maybe you have always wanted to write and publish books, and also read stories about writers earning millions.
So, how would you go about choosing the right online business opportunities in Nigeria that would be in line with your interest and start earning money?
The good news! Is that, we are alive in the most informative age today and at the most ideal time in human history to set out your own internet business.
Never before are the obstacles for starting an internet business is so low, with Startup costs very low. The most important thing required is having access to a computer with internet.
We have access to resources and tools that didn’t exist some few years back, the social media and video sharing sites are some few examples.
In this article, we’re going to discuss the top 7 online business opportunities you can start at your convenience in Nigeria with low start-up cost.
To begin, it is imperative to know there are two forms of online business; which are the product and services based business.
- The product based online business is one where you’re selling products or goods online to customers. E-marketplace and e-commerce stores are good examples of a product-based online business. This type of business takes several weeks or months to grow traffic and gain loyal customers to start making sales.
- Service online businesses are the platform you exchange your services for money and earn more than a daytime job. The advantage of this type of business is that you start earning money almost immediately. Examples of service based online businesses are online virtual assistants, ghostwriting, and language translators.
BENEFITS OF ONLINE BUSINESS
- Low startup costs: Most online business opportunities require a very minimal cost for setting up your own business platform once you have the expertise. For example, creating a blog
- Can be run from anywhere in the world: no need of bank loan to rent a shop or set up an office space for your business. All you need is an internet enabled device to be connected all the times
- Can be run part-time: this is one of the great benefits of online business. You can either set it up alongside your current job or have it on a full-time. With this advantage, you run the business at your own pace and quality.
- No staff required: no need for additional staff, as you can easily run things on your own that does not require too much tasking.
- A route for employment: instead of continuous searching for jobs that are not available, starting an internet business provides a means to enjoy what you love doing while earning money.
Online Business Opportunities In Nigeria
Since we have more understanding of why starting an online business is such an excellent idea, it is time we look at the top 7 Online Business Opportunities In Nigeria with low start-up cost.
1. Freelance Writing
The term freelance simply means someone who sells his services to employers without a long-term contract or obligations. Those who rendered services are referred Freelancers, who are skilled people for hire, and willing to sell their expertise to the highest price.
Writing is one of the easiest and quickest ways to earn money online. The writing can cover a wide range of topics, including essays, articles, movie reviews, music articles, stories and a whole lot more.
The interesting thing is that you don’t need a Masters in English or journalism experience to be successful. In fact, having too much knowledge can actually get in your way of making money as a freelance writer.
What you have to do to get clients are samples of your previous writing work. And that means you’ll need to create some if you don’t have any. One of the simple ways to build a portfolio to present to clients is writing articles for sites like Constant Content and EzineArticles.
On those sites, their editors are strict, so that means your writing should be readable as they only approve well-written work. There’s another way to showcase your writing work by using Google trend and search for a trending topic.
Ideally, it should be something you find interesting, but that’s not an absolute requirement here. The next step is to create your own content on that same topic, sign up for a free WordPress account and start publishing articles.
You can as well post the written content on your social media account like Linkedin, Facebook, Google+, Pinterest, and Twitter. Add the social links to your freelance profile. With this, you can continue building your writing portfolio and attracts more attention.
The key to being successful as a freelance writer is to focus on one particular niche, the advantage of focusing on a single topic is when you continue to write on the same topic for minutes, hours, and every year will eventually make you an expert on such topic.
Because you will build up a lot of experience and career capital through deliberate practice. This is how you can become so good that potential clients can’t just ignore you.
What’s the cost of starting a freelance writing business?
Freelance writing is a service-based business with very low start-up costs. All you need is your writing skill and an internet enabled device most preferably a computer.
Starting a Blog is still among the top online business opportunities that have been around for a while and still a very profitable online business idea in Nigeria and with much potential as ever.
When going into blogging make sure you start a blog on something that people actually want to read about. For instance its way easier to monetize a blog about poultry feeds or fish farming than it is to make money from a blog about gossip and entertainment news.
You should also have it in mind to blog about something you’re really passionate about to make it easier for you to constantly update and publish quality content on your blog.
Learning how to blog isn’t all that difficult. You can choose to use a free WordPress or Blogger.com account to get started. If you can invest more money, register a domain name, get a cheap Nigeria web hosting service. Install WordPress and kick off your blogging career in no time.
One of the common misperceptions about blogging is that you need to write these long, thought-provoking and motivational posts that will make people stop and start thinking about the topic.
Your blog doesn’t need to be such to gain search traffic. You will grow more search traffic and make more money if you focus on providing solutions to your readers to solve whatever problems they’re searching for.
Help them find a cool new product or service they didn’t know about. So, when it comes to blogging you don’t necessarily need to create those super long articles all the time.
A blog can be as visual as you like too i.e. blogging on videos, photography, and craft content. There are successful vloggers in Nigeria earning money with less writing.
What is the cost of starting a blog in Nigeria?
Using a Nigerian web hosting company (QServers), the price goes like this:
Hosting – N350 Per Month (N4200 Per year)
Domain Name (.com.ng) – (N1000 to register for a year, and N1000 for renewal)
Premium WordPress Theme – ($20 varies)
Estimated Cost Total: N5200 + $20.
3. Search Engine Optimization (SEO) Business
You can earn money online by providing search engine optimization services to individual clients and businesses if you have any moderate SEO skill to improve sites ranking.
There is a huge demand for SEO experts who can provide technical advice, recommendation and to help website owners to improve their PageRank on search engines.
You can approach SEO online business from different angles. The first thing is to build your skill on SEO, and the best way to that is to create your own website on a specific niche you want to target.
This will allow you to learn both the basic and advance SEO like Keyword research, Link building, on-page SEO techniques, and understanding how search engines work. The next step for you is target potential clients to sell your service.
And how are you going to get clients?
I would say have a case study to show evidence that you can get results. And which you already have through your website. There’s no better way to promote yourself to potential clients than through the result you have achieved
However, you will need to rank for keywords and phrases people are actually searching for. Not for some random super long tail phrase or keywords, anyone can rank for.
But what if you don’t have any results to show for?
I would suggest doing SEO for free for a number of semi-competitive keyword phrases for a small business. Perhaps, ranking for 5-10 keyword phrases at most.
Working for free might not sound ideal, but doing it has two main advantages:
- Building up your portfolio of ranking keywords.
- Once you rank for a small business for free, they will gladly refer to you and they will have no issue to hire you for a bigger job with pay. Thereby getting your first client.
With this under your belt, you can now show that you can get credible results and testimonials from previous clients.
What is the cost of starting an SEO business?
All you need is SEO skills and computer with internet connection.
4. Website Design and Development
Website design and development is one of the most lucrative internet business opportunities in Nigeria you can start with a small capital. As a web designer, you can earn tons of money online through website development for businesses and clients.
The fact that every business that wants to get known online and to reach out to wider audience needs to have a website makes the website development skill a very sought-after job and you can hardly fall short of clients.
The only obstacle for this online business is the learning curve for web design, so if you have a passion for design, you have to get started with this career right away.
Reaching out to clients and companies as a web developer is easier because your work does the advertising for you. This is so, because, your work can be seen by a lot of web visitors who visited the website you previously built for a client.
Depending on the agreement, you can place your brand name on the footer region of the website or website theme you designed for a client. This simple gesture will get you tons of businesses vying for your service.
There are many free and paid online courses you can enroll as an amateur web developer to start a website development course depending on your budget.
Here, we have listed some free and paid online website development courses;
Websites for learning free website design programme:
list of paid website development courses online;
What is the cost of starting a web development business in Nigeria?
The only cost is the learning fee for the website development courses. Once you have acquired the right knowledge, you can jump straight into business.
5. Ebook Publishing
Self-publishing has come a long way to where it is today. Unlike the traditional publishing, where you have to sell your manuscript and copyright © to a book publishing company, buying rights from you (the author) is how book publishers have traditionally acquired books.
Usually, you have to get an agent to represent you and negotiate the deal with the book publishing company and in return get a percentage of any money earned from the book sale.
The process of traditional book publishing does not support every aspiring author and it is discouraging because you have limited rights over the book and sales earning.
But with self-publishing, you have complete control of your book and earning.
All you need to do is to directly publish your book/ e-book on the Amazon’s Kindle Direct Publishing platform (KDP), which allows people to upload their own books to the Amazon marketplace you can also create an account on Createspace to self-publish your work.
There are many authors in Nigerian earning big from publishing right from their homes. You can write about fiction, poems, stories, novels and books about real-life experiences. Self-publishing gives the freedom of having all the rights and sales money from the book.
What is the cost of Ebook publishing in Nigeria?
If you’re going to be self-publishing, you have to allocate money for editing, which may not be necessary if you have friends and family who could help out with the editing work for you.
You will also need to hire a graphic designer to produce a beautiful design or illustration for the book cover to give it that professional look of quality.
After launching and uploading the book online, the next step is marketing and promotion. You may have to spend money on marketing to reach a larger audience.
6. Affiliate Marketing
Affiliate marketing is one of the simple internet business opportunities with a potentially 100% passive income.
This internet business is about selling products on a commission basis for a range of companies, including major brand names and businesses providing services.
You don’t handle packing or shipping there’s no need to buy stock, and the best part of the business is you never have to deal with customer service issues.
The cornerstone of affiliate marketing is about setting up a website that is focused on a specific niche. You have to research on semi-competitive keywords for that niche, with the aim of ranking high on Google for those keywords.
Your site visitors may click on the referral links, and if they make any purchase through your referral links, you get paid a commission.
In essence, you will be promoting other people’s businesses and get paid for referring customers to buy their products and services. As internet-based businesses go, affiliate marketing has huge income potential.
As mentioned earlier, once it is built up properly the income can be almost 100% passive.
In Nigeria, there are many affiliate marketing businesses you can start today, the most common ones are Jumia and Konga affiliates, others are Nigeria based web hosting companies and travel agencies affiliate, Nigerian affiliate programmes paid in naira directly to your bank account.
You can as well earn money from foreign affiliate marketing platforms, a few examples are the Amazon, Getreponse, Grammarly, Fiverr and a host of foreign web hosting companies E.g Hostgator. These foreign affiliates do pay in dollars and you must have Payoneer or PayPal account to receive payment.
Note: affiliate marketing is not restricted to website owners alone.
You can also run affiliate marketing ads on a social media platform if you have a large following on your personal social media account.
I have come across people earning money with having 2000 – 3000 followers on their Instagram page running affiliate marketing ads.
What is the cost of starting affiliate marketing in Nigeria?
If you are going to sell affiliate product through a website, you will have to allocate money for setting a website and web hosting.
Running affiliate marketing ads on a social media platform is absolutely free once you have a high number of followers to make sales.
7. YouTube videos
According to recent stats, people now watch more videos on YouTube than searches on Google. Making money online from YouTube is a great business idea you can start looking into in Nigeria.
With the introduced YouTube Partner Program you can profit from making and uploading videos. You will gain a percentage of advertising revenue collected per 10,000 views.
How much money you can earn depends on how many views and subscribers your channel gets.
Using YouTube, you can produce a wide variety of video content, if you got the talent or skill of producing entertainment videos, tutorials, product reviews, cooking, gaming, meme, educational, Q&A, and unboxing videos.
It is time to make the best out of what you have of value and start publishing video content today. There are many Nigeria YouTubers who have made YouTube their career and earning tons of money from it.
You can also make your own money from YouTube once you have original content and creative with video editing.
What does it cost running a YouTube channel in Nigeria?
Virtually all you need is an internet enabled device for uploading videos, and a digital camera or a phone with a good camera for recording videos.
There are many online business opportunities in Nigeria and some are becoming much more viable each passing day. we will continue to update this post to reveal the best ways of making money in Nigeria.