There is no better time to start a lucrative small business by the side than now. In our hands are unprecedented opportunities to excel in anything we throw ourselves into and give ourselves the chance to grow. Some of the lucrative business ideas shared here have made a multi-millionaire of the people who dared to launch.
The markets are underserved, meaning you too can succeed if you do your best whatever it takes.
Lucrative business ideas to check out
Here is the list of the most lucrative business ideas you must consider if you think of creating one.
1. Restaurant business
This one is always my number one, not because I love food but because I have seen women who started with nothing became everything. The secret to success in this business is not just the ability to cook well but also passion and great business ethics and strategies.
Though there are many restaurants and eateries in your area, it doesn’t stop more people from opening a business. Just provide high quality but affordable food, and you will see a line up of people come for your food. Who knows? You might meet someone who can market your restaurant to her network of acquaintances and spread the news like a wildfire.
2. Uniform sewing
If you love beautiful styles and fashionable stitches like me, you will not mind owning a sewing machine. Learning is all it takes to bring out the designs in your head.
Some people have started this business out of a passion for it. If you still need to improve your skills, go to a fashion school in your state. You can look at a corporate organisation, make a sample of uniforms that beats what they are wearing and within budget. You might get considered for the next contract bid.
Some banks, logistics, oil companies wear uniform on particular day or days in a week. Try offering sample designs they won’t resist. It doesn’t end with these groups of companies. Many workers from different sectors wear uniforms a lot of the time. Some of them may need more than two uniforms a week. If you consider this business, why don’t you step up and promote yourself as one who can make and supply them with quality uniforms?
3. Web design agencies
The online business presence has come to stay, and this niche will continue to grow. This means business owners will need websites where you can go in. All you need is a good laptop, excellent web design skills, and business acumen in reaching potential clients. If you are like me, who know a little about web design but like to go into this business, you would have to improve your skills. Invest and sharpen your skills in some online courses.
When you’ve come to a confident level of skillset for professional web designing, then start helping those around you create websites they would love so they can refer you to more people. Millions of small businesses are springing up. Be among those who help them create a great website.
4. Dry cleaning business
These days, traffic is creating even more opportunity for businesses. The exhaustive nature of the city has made this business one of the fastest-growing in the country. People are left with little time to attend to more important responsibilities, so they outsource this aspect of their chores.
If you can put money together to get a washing machine, understand the detergent that works better with every fabric, and iron well, you are ready. This business is in high demand, and I know how much we spend on laundry alone every month. If you can go from office to office in your car, you can get good patronage.
If you can speak different languages or have excellent Mathematics knowledge, there are many opportunities to teach people this essential knowledge. Pick your chosen subject and visit websites where teachers are needed. Some platforms can connect you with students worldwide, which will make you earn income from the comfort of your home. All you need is a good hold on the subject of your choice, computer, internet and you are good to go.
6. Recruitment agency
This is one of the most promising lucrative business ideas. The problem of unemployment is never going away soon as more fresh graduates enter the labour market year in and out. You can build a recruitment firm or become an agent for those in desperate search of jobs. You can become the bridge that connects people to the careers of their dreams.
You can start by cooperating with one or two companies and recruit people for them so you can have a reference point. Your recruitment agency has the potential to grow and expand if you are good at finding the right people for specific job functions.
7. Importation of clothes or shoes
Wardrobe essentials call for specific clothes and shoes for different occasion. For example, if your target is professional ladies, invest in imported goods that meet their professional looks. Think about their basic workday wears such as suits, gowns, shirts, skirts, trousers and accessories.
From time to time, ladies most especially like to change their wardrobes. They may need new ones quarterly or every six months. If you can take advantage of social media and showcase stylish, trendy, classy, but affordable, people will look for you.
The same applies to shoes. If your targets are professionals, invest in quality shoes that will last them and stand the test of time. I am a lover of quality shoes, and I love those who make them available to me at a reasonable price.
8. Retail Stores
You can start this business depending on your neighbourhood, gap and knowledge of what sells. Having a basic understanding of groceries and home needs, you can serve the average person’s daily life. You can start with what you have and, in the process, add more stuff on request.
However small you start, once you solve many customers’ problems, you will begin to generate substantial revenues. One way to grow is to ask what you would like us to consider adding to the store—monitor and take note of the unmet request.