Lucrative Business to start in Lagos

Starting a Lucrative Business in Lagos is always a problem, mostly when you have little capital. My friend Tunde stared his POS business in Ajah with N50,000 and as of today that N50,000 have helped him to earn over N2 million within a space of one year.

I know most of what I will tell you here will sound crazy but they are fact. I started my Barbing salon business with N150,000 and as of today I earn such amount with a month and even more.

Not only that, it has helped me to employ up to 3 workers working for me and I’m trying to start up a new branch in Lekki.

In fact, most of the businesses which I will be pointing out here, can be started without capital and you will still earn lots of profits from it, mostly if you have a handwork or skill.

As we all know that Lagos is among the most popular start in Nigeria, starting a business in such economic hug is always something create as you will have chances of getting more customers to your business of services.

READ ALSO: Business to start with 30k in Port Harcourt

I know a student that graduated in LASU last year that’s currently earning over 500k monthly from the business he started with less than 300k,, I don’t need to mention the business because I’m going to point it out later in this post, follow me.

Top 8 Lucrative Business to start in Lagos

Imagine a guy that started a barbing salon business with just 100k in Lekki is earning 800k to N1 million per month wow!

How he was able to pull off such customers is what I’m unable to imagine. Let check this, the guy told me that he is even earning less compared to other barbers that barb celebrities in that same city.

He charge 5k per hair cut and he told me that he do barb nothing less than 10 persons per day and that’s when their is no customers.

Sometimes he do earn up to 2 million per month depending on how many customers he get that month.

If your plan is to start up any business the first thing you need to look deep into is the business location, are they the type of person that will always need your services or patronize your business these and more are things you need to look into.

However, let point out the businesses that are very profitable in Lagos Nigeria;

• POS Business

This is actually one of the most lucrative business which many people are doing to earn. Though most individuals use as their side hustle. Starting a POS business is very easy.

Visit your preferred bank, request for POS machine from the marketing department, get your POS and umbrella and chair look for a busy place that’s far from bank but close to market and start transaction cash for people.

Someone like Ihedi during his live video on Facebook said that he started his POS business in his state with just $50,000 and today he already have over 1.7 million naira in his account by just doing POS business.

You can also add this business to your main business. For example if you own a supper market you can be using the POS to perform transaction for your business as that will help you earn more money.

The best location for POS business is road side, beside market or area far away from any bank, yes.

But, if you are a student or someone that intend to use this as a side hustle you can always go to work when you are back in the evening you can set up your umbrella and start performing transactions for people.

• Selling food stuffs

Without any doubt, this is another good business you can start in Lagos and earn huge profits in return. Due to the population in this state marketing food stuffs become easier than you may think of.

People eat everyday, and that makes it easy for your to earn more since it’s on demand stuffs, their will always be people to patronize you. Either you are selling raw food or cooked one earning from this business is as easy as you may think of.

I know a woman that sells raw food stuffs in Lagos that is earning over 2 million naira per month, this is a fact and not a joke. She usually go to villages in northern Nigeria and buy raw foods in large quantity and be marketing to people in Lagos.

Since she do buy in large quantity from local villages making enough profits in the city of lagos becomes easier.

If you know how to cool very well you can start selling cooked foods to, majority of single men hardly cook at home, in fact they prefer eating outside from the food vendor than spending money cooking.

They mostly see cooking as a waste of time and energy. You can be cooking in large quantity advertise your business if you have enough customers you can even be cooking foods in large quantity and be selling to those big guys that don’t know how to cook.

I know a family that none of the family members knew how to cook as they where not trained for such, they have no option than to depends on buying in large quantity from the best food vendor close to them and stuck in the freezer.

• Selling farm produce

This is one of the most underrated business in Nigeria, and majority of big guys are avoiding it, why? Because they will have to be entering villages meeting local farmers and be buying farm produce from them.

I know a woman that base in Ogun State that is doing this business in Lagos and she is earning good burk monthly. How does she do it? She always go to different villages buying farm produce from the local farmer at cheaper rate and come to Lagos and be selling at a moderate price and earn her profits.

There are several agricultural produce you can be buying from local farmers such as; Yam, banana, plantain, rice, pepper, veritable, and much more. These are on demand product that you don’t need to start looking for customers do start buying from you.

In fact to sell more faster you can be making yours less cheaper and you will still be earning your gain.

As that will enable you to be selling out quick while you bring in new ones. Better still, you can look for people already doing the business start buying in large quantity from the village and the selling to them and still be making your gain.

Makinging 2 million monthly from this kind of business is very possible. I know a woman earning more than that, she usually buy carry at a cheaper price in East and take it to Lagos and start selling at a moderate price and she will still earn times 2 of her capital.

• Second hand clothing Okirika sale

You don’t need to be surprise to see this because it’s among the most viable business you can easily start in lagos and be sure of earning good profits in return.

You can be buying okirika in large quantity take it to any lagos market, you don’t even need a shop, you just need a place to be drop your market you will see how people will be rushing it.

For instance, their is a woman selling Okirika in am area in Ajah, she makes nothing less than 500k monthly, I was surprised when she told me that during an interview with her.

She said that she do earn even more during festival period mostly Christmas. Some people do not have enough money to buy xmass cloth for their children and buying UK used or Okirika will be the best option.

Will I say, people patronize them more than those selling new cloths! I think so because people are always fighting over the market once the woman arrive it it.

However this business is not only profitable in Lagos, you can still move to other states and start it but, based on experience you will sell more faster and make more gain in Lagos than in any part of Nigeria due to population in Lagos state.

• Selling of phone accessories

I know you are reading this article with the help of your mobile phone, when any of it parts spoilt you will still look for any phone accessories store close to you to buy and fix your phone.

Check the popular of people in Lagos and you will see that 90% are making use of mobile phone daily and their is no how it won’t be having issue.

You can start this business with at least 500k and you will be sure of making 50k profits weekly depends on your business strategy. For instance, when I was selling phone accessories in Alaba International market I’m earning 20k daily but how was I’m be able to be earning such daily income?

Firstly before I started the business I went on 3 month skill acquisition training where I learnt how to repair phones, after the three month training I move back to Lagos state and start my business.

I’m charging them for accessories and also for repairing of the phone in case if the phone have fault and helps me earn high daily.

• Selling fresh fruits

Fruits are among the major sources if mineral in our body, selling fresh fruits will not only help you earn more money with will help you make people live more long, than then drinking alcohol always.

You can be going to then villages and be buying fruits like Orange, water mellon, You can always order about from countries that produce it not just that you can also be selling freshly squeezed fruit juice and you will still be earning profits.

I know a woman selling smoothie in lagos that’s earning good amount of money on a daily bases, you self check most of these ladies selling smoothie around you, you will see how they are selling and making profits with little to no stress.

• Laundry business

In a recent interview granted by Gehgeh in August 2024, a Young Businessman said; “I make 100k daily from my Laundry Business” I was surprised to hear that, in fact the young man said most time he earn more higher depends on how he works that day.

Starting a laundry business is very easy and anyone can easily start it. Once you have your pressing iron, washing machine and other stuffs you are good to go.

• Selling foot wears

Even if you have small capital you can start selling foots wears in your area to earn good profits in return you can be selling shoes, robber slippers and more depending on your financial capability.

You will even earn more selling female foot wear only if you have small capital like 50k, but if you want to start with above 1 million you can go for both male and female go for male only as you will learn more profits with that.

Conclusion

I have been able to show you trending business you can start in Lagos and be sure of earning high profits in return. I also state the range of the capital that you can invest in most of this business and you will be sure of high daily or weekly income.

However, I believe the information I just share with you will not only help you in starting your business but will serve as a light into your financial success.

I wish you good luck in your business journey.