In choosing to do business, you must be sure that what you are offering is needed by the vast majority of people in order to make adequate profit. If you chose to go into a business where demand is very low, lose out in the long run is very high. There are areas where demand is really high and going into such areas would guarantee you profits.
1. Sports wear: Nigerians are crazy about sports especially football. A lot of people support one football club side or the other in Europe, South America, Africa, etc and they are ready to buy their jerseys, souvenirs, fez caps, key holders, balloons, etc. They also buy wears named after their sports idols like Lionel Messi, Cristiano Ronaldo, Kaka, Neyman, Kanu Nwankwo, Didier Drogba, Fernando Torres, Pele, Diego Maradona, Usain Bolt, etc. Tap into this great market and be sure to make a lot of profit.
2. Building materials: Just like clothing and food, shelter is an essential requirement in life. People are also building houses everyday.
3. Bookshop: Primary, secondary and tertiary institutions all need books. People seeking for information also buy books. So book selling is a good business to go into.
4. Stocks: Trading in stocks of established and reliable companies is also a good thing to do. It is a long term investment which would guarantee your retirement. You can buy stocks with the money you know you can conveniently lose and it wouldn’t affect your entire future. Keep increasing them from time to time and you will really make it big when their values appreciate. Warrant Buffet is one of the richest men in the world today because of his wise investments in stocks.
5. Cosmetics: Women are ready to spend any amount to make themselves look nice and appreciated by men. Going into cosmetics is a sure way to make profits.
6. Soft drinks: Almost everybody needs them to quench thirst especially during sunny days and also for all kinds of parties – birthdays, wedding, naming ceremonies, sports, send-forth in schools, church harvest, etc.
7. Electrical appliances: These are needed in towns and rural areas where there is electricity. The demand for electric bulbs, cables, sockets, switches, extension boxes, reading lamps, electric bells, etc is very high; and having a place to meet the customers’ demand for them is sure to make you rich.
8. Computer Accessories: Computers are needed in virtually every sphere of life and would continue to be needed as long as new software are developed everyday. People need laptops, desktops, flash drives, joysticks, speakers, DVD ROM, CD ROM, keyboards, mousse, memory slots, computer games, etc to perform one task or the other. A lot of people are becoming computer-literate even in the developing world, leading to an increase in the demand for computers and their accessories. You can really make good money here.
Just think of some other things people need and which they are ready to spend a fortune to get. Look around you and think of things people find difficult to get in your environment because only very few persons are selling them. Go into providing them if the demand for them is high.
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