TOP 4 BUSINESS OPPORTUNITIES WHERE YOU ARE

TOP 4 BUSINESS OPPORTUNITIES WHERE YOU ARE

Here comes big business opportunities that if done properly are sure to be moneymakers. Here are a few ideas:

IDEA 1: FLEXIBLE TRANSPORTATION SERVICE: Cabs, car hire services, buses are a dime a dozen yet never enough. People are on the move and with increasing concern for their security, they would rather bank on transportation service they can trust and can grow familiar with. Most people I know would rather stick with a service that can get them from their homes to the office, the club, the market without making them jittery about cost or their safety.

CONSIDER: A Neighborhood/Estate Cab Service Most commuters, (who are interested in services like these) live in organized estates. Not very many of these estates come with a cab service. At best there might be a car hire park just outside the estate gates. If you are interested in transportation business, then you might consider providing a service that offers a wide range of services such as pick ups from home, all day service, office/ school pick-ups with 24 hour availability as well as flexible payment options e.g. Transfer, POS, etc. You may also consider the multiple passenger option where younger commuters heading in the same direction may split the fare. To get started you may want to distribute flyers within the estate about your services. Start by striking up a friendship with the security guards at the gate house – nothing inspires trust like an advert or endorsement by men in uniform.

Also distribute your fliers at Schools, churches and mini marts. These location are family friendly, warm and will definitely mark you out as safe. For an extra touch, observe who runs the busiest grocery/ essential product business and is also quick to offer up information (okay I’ll say it as it is-the neighborhood gossip!)- have her distribute your flyer by offering the incentive of a free ride to the market or wherever she/he picks up supplies.

STARTUP CAPITAL REQUIRED: Under N1m Buy a clean used car anywhere from N500,000 (five hundred thousand Naira). Sites like Cheki offer a range of cars at various costs. There are car dealers who also carry pre-used cars. Another good place to look is in Mechanic workshops. Some car owners looking to sell often involve their mechanic in a final tune up and in spreading the word.

You would also need to invest in flyers- this should cost anywhere from N3,000 to N5,000.

Ensure that your papers are in order before you hit the road and if you can afford it take a city tour a week before you start (you can do this via Broad Rapid Transit [BRT]). This will help you estimate the distance and fuel you might cover and need on your busiest days. Also take time out to find out the taxi fares around to various destination and make yours comparatively competitive.

TIP: It is crucial to have a good knowledge of cars and city routes. Start off with a car or two and take into account the cost of fueling and paying drivers. Even if you drive yourself, ensure you pay yourself and reinvest the rest of your income in expanding the business.

If you will offer a 24-hour service ensure that you do the ground work of recruiting trusted drivers.

IDEA 2: TICKETING AND BOOKING SERVICES: booking of flight ticket, show ticket, movies ticket, etc. Just think… It’s a Friday, the premiere of Star Wars holds tonight and tickets are sold out completely by Monday. But there’s a catch you have fifteen tickets. What are the chances that you can sell all fifteen in an hour? Fat! In fact I’d say the chances are 15 in 15! With such busy schedules, people often don’t come around to book tickets early. Whether it is entertainment like movie tickets, concert tickets, comedy shows etc. or lifestyle and travel like flight tickets, spa deals, restaurant bookings, anything can be reserved for those in the fast paced life style. You can buy tickets at giveaway prices and resell at a profit.

CONSIDER: An all Ticket Service Provider Start a website just for tickets and become a recognized vendor for service providers (who are looking for free exposure on any platform anyway). Publicize your site via social media as the last minute ticket place. People will pay a little extra for saving them the last minute stress or worse disappointment of not seeing that movie or attending that concert.

TIP: For places where it applies, offer the extra service of sending their name ahead so they are greeted at the door by name and led to their seats or booths. This means including reservation in your service.

Running this as a one-man operation may be fun at first but as you expand you’ll need more legs, eyes and voices.

STARTUP CAPITAL REQUIRED: Under N50k Start with cheap movie tickets. Premier tickets usually cost N2,000 at most. Ten will cost you about N20,000. Once the tickets sell out, consider selling yours on various trading sites for about N2,500 to N2,800. You’ll require steady access to the internet and phone. Then re-invest in other tickets.

TIPS: Consider making the venue of the event your pick up point for the tickets other wise, the added touch of a delivery service would help your service spread by word of mouth.

IDEA 3: ERRAND SERVICE: After a tedious week, most city based working parents barely have enough time to bond with their children, get involved in religious activity and prepare for the next week. Running personal errands are simply out of the question and while one might reason that house keepers and maids exist for this, there are households whose errands are too sophisticated or who would rather not have live in staff but would be grateful if their itinerary can be freed up so they can focus on more important aspects of their lives.

CONSIDER: A Pay as you go Home manager/ Assistant service Errands on this service would naturally take anywhere from a few hours to half a day or a full day. You could do anything from drafting out the itinerary to picking up grocery and the mail or dropping off packages or people at various destinations or petty financial transactions etc.

STARTUP CAPITAL: Zero to N200k Personal experience at customer service and personal assisting will come in handy. While recommendation and referral is your best bet in this type of service (this should be both ways). You may also wish to start out by using the estate service method in idea 1.

TIP: Consider investing in a Motorbike fitted with a carrying case. This will cut down your transportation time and overhead and cover most errand types. As you expand, you may find that you need to employ personal assistants for your business and invest in other vehicle types.

It is also crucial to remember that apart from the cost of transportation you are being paid for your time, efficiency and value of service. Ensure that you leave a good impression. Nothing ensures a call back like positive feedback to your client from a third party.

IDEA 4: EVENT PLANNING: Well that’s what everyone calls it, even those who just decorate. The big city is full of events- children are born, children turn land mark ages, they get into school, they graduate, they get married, write books, attain huge achievements, celebrate holidays, celebrate their parents, send off their parents in style. Here in Lagos, everything is a reason to celebrate but with those busy schedules and limited knowledge almost everyone is looking for someone to tell them how to celebrate and this is where actual event planning comes in to play.

CONSIDER: An all event solution provider service Catering to events is like putting together a jigsaw puzzle. First you must have a clear picture of the event from start to finish, then work with clients’ budget to create the best fit. To do this you need to have the contact information and a brokerage agreement with a number of event vendors in various categories. From food, drinks and aesthetics to hosting, location and entertainment. Gathering resources like these takes years of planning and experience and trust building but it is essential to start somewhere.

 STARTUP CAPITAL: Zero to N50k While I subscribe to short internships. Most event planners are usually wary of the possibility of stolen clientele and aiding future competition. I have a friend who started her event career by attending as many as she could. At each event, she’ll strike up a conversation with a vendor or two then cards would exchange hands. Her card introduced her as an event broker.

The constant keeping in touch and first hand knowledge of their work meant she could determine what vendor was right for what event. She will then offer them the job for a percentage of their fee while collecting her fixed fee from the clients.

TIP: Appearance is key. Allow your clients see you in all elements from posh to hands-on without appearing hassled. You might want to invest in a good car. Clients are often always undecided and impatient. Your job is to be the calming and reassuring force in the storm.