Ever thought of some Unexplored Business Prospects & Ideas and wonder if its a viable venture? Everyone aspires to launch their own company and reach the billionaire or millionaire status.
Lots of entrepreneurs and hopefuls (students and career individuals) are still unsure of what company concept to launch for maximum profit with the least amount of competition in a market as competitive as Nigeria.
What are some unexplored business sectors and prospects in Nigeria that a businessperson might potentially profit from? This piece delves deeply into a few of those lucrative business prospects that are yet unexplored in Nigeria.
1. Waste & Sanitation Management
Approximately 11 billion tons of waste materials are collected globally each year, generating a staggering $410 billion in income. The potential to become one of Nigeria’s wealthiest entrepreneurs is immense if you come from a less developed nation like Nigeria and gather and recycle waste from people’s homes.
Everyone wants a clean environment because of increased knowledge of hygiene, yet no one wants to clear the filth.
Numerous goods, such as plastic and broken bottles, wine cork panels, roofing sheets, slippers, and many more, may be made from recycled waste materials.
You don’t have to be in charge of recycling if you own a small business; all you have to do is find a way to transport your waste goods to companies who have recycling facilities; you’ll get compensated for it. It’s just a matter of time until you get your hands dirty and explore this unexplored business opportunity.
2. Food Truck/Container Business
One other mostly unexplored business concept in Nigeria is a working-class-only food container company. Nowadays, very few people take the time to cook for themselves or eat at restaurants because they are too busy. For most consumers, your food container company provides a solution since it delivers meals to them. You would have to stay in areas with plenty of traffic and stock up on food that is likely to be consumed by most people. In order to set your business concept apart from the typical restaurant vendors, I advise you to concentrate mostly on offering light breakfast items, such as tea, coffee, and snacks, which employees may grab on their way to work.
3. Organic Farming Business
Nigeria is an agrarian nation that has historically been among the world’s top producers of various crops, but unlike other African nations, it has not yet reached its full potential in terms of farming and agriculture. Organized organic farming is relatively new in the nation, having been practiced for less than ten years.
Put on your pajamas, get outside, and grow vegetables, crops, milk, or any other daily need product. Before long, people will see you on the front cover of business publications with a number of millionaires and billionaires, since there is a huge demand for organic food around the world. The government’s backing of organic farming, in the form of agricultural grants and subsidies for interested entrepreneurs, is by far its greatest feature.
4. Alternative Energy for Homes
The average electricity supply in Nigeria is 3, 851 MW, which is far less than what Nigerians need, according to data from the Electricity Generating Companies. Since the whole industry was privatized in 2005, those private companies are now alone in charge of ensuring that over 180 million Nigerians have access to power, a task at which they have manifestly failed.
Homes may employ a variety of alternative energy sources, including biomass energy, solar power, biofuels, wind energy, and many more. Because the Nigerian energy supply situation does not appear to be getting better anytime soon, this is the perfect opportunity for outstanding entrepreneurs who have what it takes to pull off this kind of business venture to profit from the poor leadership and governance in this nation. Though this concept requires a lot more funding than others, the market is easily available and has more potential than you may think.
Ready to download a business for your rare idea?
Look at these below and download what suits your business.
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