Tolite22: DAY 1

Small Business Idea #1 - Primary and Secondary Education

Education is a very lucrative industry because it is a basic need for many people. Parents want the best for their children and know that education is the only way to guarantee their survival and success in the future. Even poor families in Nigeria are making huge sacrificies to send their children to school. For many of these people, education could be their only bridge out of poverty.

The problem is private schools in Nigeria are often too expensive and the quality of education in government-owned schools is too poor to make any useful impact. Is there really a way to provide primary and secondary education to millions of poor and middle class children in Nigeria and still make a profit?

It appears there is. In Ghana and Kenya, there is a trend of low-cost private primary schools targeted at children of low and middle income parents. For less than $1 (160 Naira) a day as school fees, both Omega Schools (Ghana) and Bridge International Schools (Kenya) provide school uniforms and lunch in addition to tuition. This sounded impossible to me the first time I stumbled on it. 160 Naira as school fees?

As I type these words, Omega and Bridge International schools have enrolled thousands of poor children in both countries and business is booming! I would be much surprised if these low-cost private school chains do not start up in Nigeria very soon. They are cheap to start and run, very profitable, target a large and ignored market (poor people) and, above all, they solve a very serious social problem.

Further reading
To find out more about how you can start something in the education business, I strongly recommend the following information-packed articles:

The business of Education in Africa – 7 lucrative opportunities you can exploit in this huge and growing market - http://www.smallstarter.com/browse-ideas/education-and-training/7-education-and-training-business-ideas-for-africans

$5 School Fees – How this private school makes money from teaching poor kids in Kenya - http://www.smallstarter.com/get-inspired/bridge-academies-kenya

Amazing! How this low-cost private school chain is educating poor children for profit in Ghana - http://www.smallstarter.com/get-inspired/omega-schools-ghana

What do you think about this small business idea? Let's ask, share and brainstorm. You'd be amazed at what we could come up with.

See you tomorrow with another interesting business idea!

Treasure103: Op thanks for this info. I have #500k and I live in Abuja. What business do u think I can do with that,renting shops here are so expensive,paying for any how shop may not work becos of demolition here and there. Thanks n waiting for your response.

emmaliver: it wont be easy to start up.

1mic_cza: Please Tolite can we chat?? Ma email is mimixlnt@gmail.com. If you are on bb, my pin's 217f42bd

Tolite22: DAY 3

Small Business Idea #3 - Human and Cargo Transport (by road)

Across the world, there are two major factors responsible for the growth of road transportation - a large/growing population and increasing economic activities.

Nigeria's population (currently at over 170 million) is the largest in Africa and is projected to grow to 250 million by 2040. According to a recent Reuters article (see link below), over 11,000 new children are born in Nigeria every single day. The larger the population, the higher the volume of physical human movement. People are always on the move - going to the office, school, business, market, recreation etc. (Sorry, I forgot to mention 'hustling').

Whether it's daily commute to work or long distance travel (such as interstate), the number of people moving around everyday in Nigeria is astounding! The number of motorcycles (although banned in several cities), taxi cabs and buses is increasing to cater to the growing demand for road transportation. This demand is so high that the government alone will be unable to handle the current and future levels. There is more than enough room for entrepreneurs and private businesses to 'help'.

Although GDP (Gross Domestic Product) is the usual way to measure the size of a country's economy, I personally do not think that it makes any sense to the common man. So, how can you visibly notice the fast rising level of economic activities in Nigeria? I like to look at the number of haulage trucks carrying goods within and outside Lagos. Agricultural products, imported goods from Apapa ports, construction materials (wood, steel rods, sand, cemnet blocks and aggregate), food, petroleum products and several other goods that are transported across Nigeria everyday are a huge and growing opportunity for entrepreneurs to enter the business of transporting goods across Nigeria.

Road transport is the cheapest and easiest way to enter the transport business in Nigeria. All the other options are not ripe for the picking for various reasons: Air transport is capital intensive and out of reach for many (small scale) entrepreneurs. Water transport is picking up but is still a poorly developed means of transportation in Nigeria. Rail? Let's not even go there.

On a final note, I have the following advice for anyone who fancies the road transport business in Nigeria:

- The transport business is not as capital intensive as many people think. Start with one motorcycle, one taxi, one bus or one truck. Start small but dream big.
- Devise a win-win strategy that will help to keep your drivers in check (drivers are crucial to the success of any road transport business and can make or wreck it!)
- You can either hire a driver and pay him a daily/weekly/monthly salary or you could ask for a minimum return at the end of every day.
- Hire/Purchase Agreements seem to work as the best arrangement between vehicle owners and drivers
- If you can afford it, install a tracking device/equipment on your vehicles. It's usually worth the investment.
- Vehicle insurance and regular maintenance are some of the most important aspects of the road transport business that are often taken for granted. Don't make the same mistake.
- Police, FRSC and all sorts of federal, state and local government revenue-collecting agencies can frustrate your road transport business. Make sure you get all the necessary permits, tickets and licenses.

To find more information about human and cargo transportation, I would recommend that you read the following articles:

Moving people around - 5 Profitable businesses you can start to solve Africa’s human transportation problems http://www.smallstarter.com/browse-ideas/transport-and-logistics/human-transport-business-in-africa

Trucking and Haulage: How to make money from Africa’s large and expanding transport market http://www.smallstarter.com/browse-ideas/transport-and-logistics/trucking-and-haulage

Reuters Article - Will Nigerian boom babies feed prosperity or entrench poverty? http://www.reuters.com/article/2013/04/09/us-africa-summit-population-idUSBRE9380DH20130409

I hope you found this small business idea useful and informative. Any thoughts or suggestions? Please share...

See you tomorrow!

Tolite22: DAY 3

Small Business Idea #3 - Human and Cargo Transport (by road)

Across the world, there are two major factors responsible for the growth of road transportation - a large/growing population and increasing economic activities.

Nigeria's population (currently at over 170 million) is the largest in Africa and is projected to grow to 250 million by 2040. According to a recent Reuters article (see link below), over 11,000 new children are born in Nigeria every single day. The larger the population, the higher the volume of physical human movement. People are always on the move - going to the office, school, business, market, recreation etc. (Sorry, I forgot to mention 'hustling').

Whether it's daily commute to work or long distance travel (such as interstate), the number of people moving around everyday in Nigeria is astounding! The number of motorcycles (although banned in several cities), taxi cabs and buses is increasing to cater to the growing demand for road transportation. This demand is so high that the government alone will be unable to handle the current and future levels. There is more than enough room for entrepreneurs and private businesses to 'help'.

Although GDP (Gross Domestic Product) is the usual way to measure the size of a country's economy, I personally do not think that it makes any sense to the common man. So, how can you visibly notice the fast rising level of economic activities in Nigeria? I like to look at the number of haulage trucks carrying goods within and outside Lagos. Agricultural products, imported goods from Apapa ports, construction materials (wood, steel rods, sand, cemnet blocks and aggregate), food, petroleum products and several other goods that are transported across Nigeria everyday are a huge and growing opportunity for entrepreneurs to enter the business of transporting goods across Nigeria.

Road transport is the cheapest and easiest way to enter the transport business in Nigeria. All the other options are not ripe for the picking for various reasons: Air transport is capital intensive and out of reach for many (small scale) entrepreneurs. Water transport is picking up but is still a poorly developed means of transportation in Nigeria. Rail? Let's not even go there.

On a final note, I have the following advice for anyone who fancies the road transport business in Nigeria:

- The transport business is not as capital intensive as many people think. Start with one motorcycle, one taxi, one bus or one truck. Start small but dream big.
- Devise a win-win strategy that will help to keep your drivers in check (drivers are crucial to the success of any road transport business and can make or wreck it!)
- You can either hire a driver and pay him a daily/weekly/monthly salary or you could ask for a minimum return at the end of every day.
- Hire/Purchase Agreements seem to work as the best arrangement between vehicle owners and drivers
- If you can afford it, install a tracking device/equipment on your vehicles. It's usually worth the investment.
- Vehicle insurance and regular maintenance are some of the most important aspects of the road transport business that are often taken for granted. Don't make the same mistake.
- Police, FRSC and all sorts of federal, state and local government revenue-collecting agencies can frustrate your road transport business. Make sure you get all the necessary permits, tickets and licenses.

To find more information about human and cargo transportation, I would recommend that you read the following articles:

Moving people around - 5 Profitable businesses you can start to solve Africa’s human transportation problems http://www.smallstarter.com/browse-ideas/transport-and-logistics/human-transport-business-in-africa

Trucking and Haulage: How to make money from Africa’s large and expanding transport market http://www.smallstarter.com/browse-ideas/transport-and-logistics/trucking-and-haulage

Reuters Article - Will Nigerian boom babies feed prosperity or entrench poverty? http://www.reuters.com/article/2013/04/09/us-africa-summit-population-idUSBRE9380DH2013040o9

I hope you found this small business idea useful and informative. Any thoughts or suggestions? Please share... lp

See you tomorrow!

emmaliver: plz tell me about installling d trackin device

popoboy:

Op you must have a special eye to see people like me reading silently. Just wanted to encourage you to keep up the gud work. Maybe i may see an interesting business idea to tap into since am resigning from this silly job by Jan.

Tolite22:

Brilliant question! I should have said something about this when I started this thread.

Technically, small businesses are defined by their size (number of employees). Typically, any business that has between 1 (self-employed) and 50 employees qualifies to be called a small business.

However, you and I know that there are one-man 'briefcase' businesses in Nigeria that control billions of naira. As a result, personally, I think the term is very subjective. A business with N500k in startup capital may seem like a big business to you but to a bank manager or oil worker, it's just small.

I thought I should answer the question from both technical and 'real life' perspectives so you get the full picture.

I hope this explanation helps??

Tolite22:

Brilliant question! I should have said something about this when I started this thread.

Technically, small businesses are defined by their size (number of employees). Typically, any business that has between 1 (self-employed) and 50 employees qualifies to be called a small business.

However, you and I know that there are one-man 'briefcase' businesses in Nigeria that control billions of naira. As a result, personally, I think the term is very subjective. A business with N500k in startup capital may seem like a big business to you but to a bank manager or oil worker, it's just small.

I thought I should answer the question from both technical and 'real life' perspectives so you get the full picture.

I hope this explanation helps??

dvdami:

Seems we are in d same ship. Also resigning frm ds silly job by Jan. Can we share some thoughts together? I hav sent u a PM.

Treasure103: Op thanks for this info. I have #500k and I live in Abuja. What business do u think I can do with that,renting shops here are so expensive,paying for any how shop may not work becos of demolition here and there. Thanks n waiting for your response.

francababy:
Since you are a lady, if you have any of beauty, fair skin, big booty or good breast, then you can start ashawo business. I heard it is very profitable in Abuja. You will not need up to N500k to start

francababy:
Since you are a lady, if you have any of beauty, fair skin, big booty or good breast, then you can start ashawo business. I heard it is very profitable in Abuja. You will not need up to N500k to start