IFE OGUNFUWA writes on low-cost
businesses for entrepreneurs
There are many business ideas with money-
making potential but in view of the volatile
economy, experts advise entrepreneurs to
invest in businesses that require low
investment capital.
They note that online businesses are
gradually taking over those that solely
operate in brick and mortar stores. They
advise that for people who are
contemplating starting a business online
with little capital, there are some viable
options to choose from.
Commercial cleaning services
Though in the informal sector, commercial
cleaning service is currently gaining ground
and many young people, even graduates,
are actively working in that area.
Graduates who are unable to directly
perform the cleaning tasks employ others
as part-time workers.
A business consultant, Mr. Tunde
Babatope, says corporate and residential
cleaning services can be offered in the
areas of fumigation, carpet cleaning,
furniture cleaning, wall washing, floor
cleaning, draperies cleaning, water, smoke,
and fire damage restoration and general
laundry.
He says, “These services under this
business may not have international
attraction but will enjoy patronage in an
urban setting. Though services are
rendered offline, having an online presence
will help build a strong brand.
“You can also write quality content which
will border on ways to maintain a clean
environment and remove tough stains.
Write weekly newsletters and send to
subscribers’ emails. Operate active social
media accounts and participate in group
discussions. You can earn additional
income by selling cleaning tools either
online or offline.”
E-books retailing
E-books are gaining popularity. With the
major improvements in digital technology
and wide use of digital tools, e-books are
becoming more relevant than the print
format.
Babatope explains that there are many
reasons for writing and selling e-books.
He adds, “You can write and offer them for
free as an incentive to people who sign up
to your mailing list. You can also write e-
books for profit or to share your
experiences and professionalism on a
subject matter. They are easy to write and
publish. You can either write the books
yourself or be a reseller of bestselling
copies. However, the most difficult part is
marketing.
“Due to the growing competition in the e-
books retailing business, having a copy
with interesting content is important. The
quality of the content will determine the
ability to sell.”
Online coach
Sourcing for clients and building a strong
brand in consultancy services have moved
an inch further into the online platform.
One-on-one traditional coaching is
gradually becoming a thing of the past
with industry experts and professionals
offering online coaching services.
Babatope says consultant and career
coaches are getting more recognition by
engaging their followers on social media
platform through thought-provoking
articles and live videos on Facebook,
webinars, podcasts and Twitter, among
others.
He says, “Design your website and enrich it
with interesting content in different
formats like video, articles, illustrations
and pictures. There can also be interesting
games that will engage visitors and endear
them to your website. The initial cost of
offering online coaching services will
include the cost of the website design and
subsequent Internet subscription.
“You will need to have in-depth knowledge
in your area of expertise, be able to
motivate others and give objective and
constructive feedback. You can either
communicate with your client through
email, Skype or over the phone.”

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