Starting a business from home is appealing, mainly due to its low startup cost, flexibility, and better work-life balance. While there are multiple benefits to starting a business from home in Nigeria, a survey showed that 50% of businesses fail in the first five years. Choosing the right business is crucial to increasing the chances of your home-based business succeeding.
This post discusses the top 15 businesses you can start from home in Nigeria. We also list businesses best suited for students and stay-at-home moms. We highlight the skills and resources needed to start the business, the target audience, the necessary capital, potential earnings, and tips for success in the Nigerian market.
Top 15 Home-Based Business Ideas in Nigeria
1. Recycling Business
The recycling industry in Nigeria is rapidly growing as more people become aware of its profitability and environmental benefits. Recycling businesses collect and sort recyclable materials like plastics, paper, and metals for resale.
- Required Skills and Resources: The primary skills needed to start a recycling business are identifying recyclable materials and relevant sorting techniques. In addition to these skills, you also need weighing equipment (scales) and access to storage space. Starting a recycling business with Scrapays helps simplify the process.
- Target Audience: One advantage of recycling is that your Target audience is extensive; from Children to adults, businesses, construction sites, mechanics, etc., the list is endless.
- Market Demand: In 2021, the MD of the Lagos Waste Management Authority (LAWMA) stated that the value of the recycling economy in Lagos alone was N18 billion; the plastic recycling market is also estimated to reach 3.4M tonnes in 2030. This shows the current and increasing demand for recycling.
- Startup Costs and Potential Earnings: Costs may vary depending on the scale of operations. With Scrapays, you can start a recycling business with as little as 80,000, and dedicated agents make an average of 200,000/Month.
- Tips for Success in the Nigerian Market: To grow your recycling business, build relationships with waste producers like businesses and construction engineers overseeing sites, mechanics, schools, churches, etc., in your location. You should also educate members of the community on the benefits of recycling. Promote your business through social media platforms, WhatsApp, and local gatherings like CDA meetings.
Start Your Recycling Business With Scrapays Today.
2. Online Tutoring and E-Learning Services
Since the COVID-19 pandemic, there has been an increase in the acceptance of online education. (NC-SARA) reported a 93% growth in student enrollment in online classes. It has been estimated that global investment in online education will reach $350 billion by 2025.
As this trend continues, you can start an online tutoring and e-learning services business from home.
- Required Skills and Resources: You must have a strong understanding of your subject matter and good communication skills. You can host classes on Zoom or Google Meet or even upload them to YouTube.
- Target Audience and Market Demand: Students, professionals seeking further education, and parents looking for extra lessons for their wards.
- Startup Costs and Potential Earnings: There are relatively low initial costs. You only need a video recorder (you can start with your phone or a laptop with a webcam) and internet access. Depending on the existing demand and your level of expertise, you can charge anywhere from 5,000 to 10,000 naira per session.
- Tips for Success: To attract students, offer free sample classes, ask students for video testimonials, aggressively market online, and set up a referral program.
3. Setup an E-commerce Store
According to Statistica, the number of visitors to online marketplaces grew constantly, exceeding 242 million in 2020, and Nigerians have a very positive attitude towards online shopping.
Setting up an online store with platforms such as Jumia, Konga, and Jiji is easy. You can sell various products, from fashion items and electronics to handcrafted hats and beads.
- Required Skills and Resources: Basic knowledge of your selected online platform ( you can learn easily from YouTube), product sourcing, and inventory management.
- Target Audience and Market Demand: Your target audience will depend on the Item you’re selling. While selling products that resonate with the younger audience is tempting, you should consider purchasing power. Choose a target audience thats active online and can also buy your products.
- Startup Costs and Potential Earnings: Startup costs and earnings depend on the product you decide to sell, the model you adopt, and other operational expenses such as marketing, data, etc.
- Tips for Success: Ensure customer satisfaction, aggressively market your product online, and establish a customer loyalty scheme and referral program.
4. Freelance Writing
Freelance writing involves writing directly for clients rather than as a company staff member. The increasing importance of content marketing, coupled with the relatively lower cost of engaging a freelancer compared to a full-time staff member, among other reasons, drives the growing demand for freelance writers.
- Required Skills and Resources: The core skills needed to be a freelance writer are a knack for research, creativity, and excellent writing skills. Essential digital marketing skills are also a plus. To start, you only need a laptop and the internet.
- Target Audience and Market Demand: Businesses of all sizes, Prominent individuals, non-profit organizations, content creation agencies, etc.
- Startup Costs and Potential Earnings: Startup costs include training, data, and a laptop – this cost ranges from less than 50,000 Naira (if you already have a laptop and writing skills) to hundreds of thousands (if you’re starting from scratch). Earnings depend mainly on your clientele and skill – while some writers charge as high as 20 Naira/Word, others charge as low as 2 Naira/Word.
- Tips for Success: Build a robust portfolio, write consistently on professional platforms like Linkedin, maintain a professional blog on journal sites like Medium, and sign up on freelance platforms like Fiverr or Upwork to get access to clients.
5. Food Prep and Catering Services
You can start a food preparation and catering business from your home kitchen. With a population of over 200 million and over 60 million actively working, starting a food prep business could be profitable.
- Required Skills and Resources: Good culinary skills and understanding of food safety regulations.
- Target Audience and Market Demand: Busy professionals, students, events, and households needing home-cooked meals or catering services.
- Startup Costs and Potential Earnings: Depending on the scale, initial costs can range from 50,000 to 200,000 naira. Profits vary, but the number of restaurants in Nigeria proves this business is profitable.
- Tips for Success: Offer a menu that caters to popular tastes, promote on social media platforms, and ensure timely delivery.
6. Virtual Assistant Services
A virtual assistant is an independent contractor who provides administrative services like scheduling, email management, and customer service to clients (businesses or individuals) while operating outside the client’s office, usually from home.
- Required Skills and Resources: Strong organizational skills and Microsoft Office and Google Workspace knowledge.
- Target Audience and Market Demand: Busy professionals, entrepreneurs, and companies or brands looking to outsource remote administrative support.
- Startup Costs and Potential Earnings: You will need a computer and reliable internet access. According to a Glassdoor survey, VAs earn an average of 220k/Month.
- Tips for Success: Develop a solid online presence on LinkedIn and promote your VA services on social media. You can create accounts on freelancing platforms like Upwork or Fiverr and communicate well with clients.
7. Translation and Interpretation Services
Statistica reports that in 2020, there were over 1 million international migrants in Nigeria, Highlighting a demand for translation services. You can offer translation services for businesses that serve foreign clients or expatriates in Nigeria if you can speak more than one language—local, e.g., Yoruba, Igbo, Hausa, etc., or foreign, like French, Spanish, and Mandarin.
- Required Skills: Fluent reading and writing ability in multiple languages is the core required skill. Secondary skills include marketing and content creation to promote your business.
- Target Audience: Businesses looking to expand their global reach or with primarily foreign customers, such as Chinese restaurants. Non-English-speaking expatriates in Nigeria are aslo a target audience.
- Startup Costs and Potential Earnings: You will need a computer and good internet access. Potential earnings depend on demand, skill level, and clientele.
- Tips for Success: Build a solid online portfolio, invest heavily in content creation, seek partnership agreements with businesses and travel agencies that regularly interact with foreigners, and attend cultural integration events as regularly as possible.
Stay-at-Home Mom Business Ideas
8. Handmade Crafts and Artisanal Products:
As a mom, if you enjoy crafting, you should consider selling handmade jewelry, fashion accessories, or home décor items.
- Required Skills and Resources: The basic skills needed are creativity and dexterity. The resources required vary depending on the selected products but are generally essential tools like beads, needles, threads, etc.
- Target Audience and Market Demand: Nigerians appreciate unique, handmade items; target craft enthusiasts and fashion-forward customers.
- Startup Costs and Potential Earnings: Startup costs typically range from 20,000 to 50,000 naira for materials. Depending on how well you market your products, earnings can range from 50,000 to 200,000 per Month.
- Tips for Success: Use social media platforms like Instagram to showcase your work and collaborate with local stores to stock your items.
9. Online Fitness Coaching (Pre/Post-natal Fitness)
You can provide fitness coaching for pregnant or post-natal women through online platforms.
- Required Skills: Fitness training certifications, knowledge of prenatal and post-natal health.
- Target Audience: Pregnant women and new mothers.
- Startup Costs and Potential Earnings: Typically low startup costs, you’ll need a good internet connection and workout equipment. Earnings can vary between 30,000 to 150,000 monthly.
- Tips for Success: Promote yourself on social media platforms. Share testimonials and personal stories as a mother to build trust and connection.
10. Child Care and Day Care Services
As a stay-at-home mom, you already care for your child(ren). You can consider offering childcare services for working parents in your community or place of worship.
- Required Skills: Childcare experience, patience, and a safe environment for the children.
- Target Audience and Market Demand: Working parents with young children.
- Startup Costs and Potential Costs: Starting costs are minimal. You’ll need toys, educational materials, and safety equipment. Potential earnings can be from 30,000 to 100,000 naira monthly.
- Tips for Success: You can start by speaking to parents in your neighborhood, using local advertising, and even using word of mouth.
Business Ideas Students Can Start From Home
11. Social Media Influencer and Content Creator
As a student interested in storytelling and content creation, you can create and share engaging content on platforms like Instagram or TikTok.
- Required Skills: Creativity, communication, and social media management.
- Target Audience and Market Demand: Small or medium-scale businesses, brands, and companies looking for influencers to promote their products.
- Startup Costs and Potential Earnings: Startup costs can be high if you need to buy the required equipment, but you can explore leasing or renting options. Profits vary between 50,000 and 500,000 naira per campaign, depending on your audience’s reach.
12. Web Development and Design
Websites quickly become necessary for businesses, organizations, and individuals wanting to be taken seriously. As a student, you can learn to develop websites and start a website design business from home.
- Required Skills: Knowledge of web development languages like HTML, CSS, and JavaScript.
- Target Audience and Market Demand: Established and growing businesses, Non-profit organizations, prominent individuals, etc.
- Startup Costs and Potential Earnings: Training (Free on YouTube or paid sites like Udemy), a computer, and reliable internet access. Earnings vary from 50,000 naira to 500,000 per project.
- Tips for Success: Build a strong portfolio. You can take some free gigs to build your reputation and get testimonials.
13. Photography and Video Editing
You can provide photography and video editing services for events or content creators.
- Required Skills: Photography, Videography, and editing skills using software like Adobe Premiere Pro and Final Cut Pro, or start by learning a relatively easy-to-learn software like CapCut.
- Target Audience: Event planners, content creators, small businesses, and individuals seeking professional visual content.
- Startup Costs and Potential Earnings: Startup costs are moderate; you’ll need a good camera, lighting equipment, and editing software. Earnings can vary between 50,000 to 300,000 per project, depending on the client and scope of work.
14. Graphic Design and Illustration
As a graphic designer, you will create visuals for businesses and brands, including logos, brochures, and social media content.
- Required Skills and Resources: Proficiency in using design software like Adobe Photoshop or Illustrator is essential.
- Target Audience and Market Demand: Small businesses, startups, and content creators who need good design work to promote their products or services.
- Startup Costs and Potential Earnings: Getting a good computer and access to software licenses is essential. These can cost between 100,000 and 300,000 naira. You can earn from 10,000 to 50,000 naira or even higher per project as a designer.
- Tips for Success: Build a strong portfolio on Behance, network with other creatives, and constantly update your skills with online tutorials.
15. Digital Marketing
Help businesses grow their online presence through social media management, SEO, and paid ad campaigns.
- Required Skills and Resources: Understand marketing strategies, SEO, and social media platforms. Online tools like Google Analytics are essential.
- Target Audience and Market Demand: Small to medium-scale businesses looking to boost their online presence.
- Startup Costs and Potential Earnings: Costs depend on the tools you want to invest but typically range from 100,000 to 500,000 naira. And your earnings can vary from 50,000 to 200,000 naira per client.
- Tips for Success: Build a strong portfolio by offering services at a discount or even for free in exchange for recommendations and testimonials when starting.
D. Tips for Success in a Home-Based Business
- Create a dedicated workspace: To improve productivity, set up a dedicated workspace in your home. This will help you stay organized and minimize distractions during working hours.
- Develop a routine and set boundaries: Create a consistent work routine and communicate your work hours to family members. This helps maintain a healthy work-life balance.
- Continuous learning and skill improvement: Keep learning by taking online courses, attending workshops, reading industry-related books, etc. Improving your skills will allow you to offer better services and stay competitive
- 4. Networking and building professional relationships: Join business communities, both online and offline, to network with like-minded individuals, leading to collaborations, partnerships, and business referrals.
- 5. Leveraging social media and online marketing: Use social media platforms like Instagram, Facebook, and LinkedIn to promote your business and engage with potential clients.
Common Challenges of Starting a Business from Home and How to Overcome Them
- Distractions and Reduced Productivity: Working from home comes with several distractions. To stay productive, establish a routine, use productivity tools like To-do lists, and set clear boundaries between work and personal time.
- Managing finances and cash flow: Budgeting is crucial for a home-based business. Keep track of expenses and revenues, and save for unforeseen expenses or slow business periods.
- Overcoming isolation and staying motivated: Running a home business can be isolating. Stay motivated, set clear goals, and celebrate small wins.
Conclusion
The home-based business ideas discussed in this article span various industries, from recycling and tutoring to digital marketing and e-commerce. These ventures provide a flexible and profitable opportunity to start earning from the comfort of your home.
Among these, recycling stands out as a profitable home-based business that is also very easy to start. With Scrapays, it’s easy to get started and start earning.
We recommend you start a recycling business with scrapays because;
- You need less than 100k to start.
- We’ll give you the tech, training, and assets you need to start.
- Anyone can do this business, irrespective of skill or experience level.
- Very low barrier to entry.
- We offer continuous support, so you’re not alone.
- The recycling business has very low risk, and our business development team will help reduce the risk further.
- You can start in less than 7 days.
- Our agents make an average of 200k/Month,
Start your recycling business today by becoming a Scrapays agent.