Though daily income businesses may not really be the best businesses to think of, but as a beginner that doesn’t have much cash/capital at hand, there may be need to think about startup businesses that bring daily income in Nigeria.
This is because you may not really have much cash at hand as a beginner, and your business is still new; so you may really need to have that daily income flow to keep you abreast in your business and other personal needs of yours.
What Are Daily Income Businesses?
Daily income businesses are those businesses that bring sure profits to the owner on every day that he runs the business. This means that there is a high possibility that the owner will always realize a certain amount of profit in any day he goes out for the business.
Daily income business makes it possible for the owner to know the nature of income flow in their business within a little period of time, and be able to define their fate especially in a new business.
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List Of Start-up Businesses That Bring Daily Income in Nigeria
If you have been searching for start-up businesses that bring daily income in Nigeria, here are few of them that can answer your question:
- Food Business
- Transport Business
- Car Wash Business
- Barbing/Salon Business
- Football Viewing Center
Food business is one of the best businesses that bring sure daily income to your table.
The business involves cooking all sorts of desired meals for people that eat outside their house, it’s a kind of mini restaurant business.
You may decide to focus on fast foods like preparing indomie noddles and the rest, or even combine many other menus like rice, beans, fufu, and many more.
Though it is always better and mature if you are able to get a shop for this business, but the interesting thing is that you can still do this business perfectly even if you don’t have a shop.
It is no doubt that this business can change your financial status if you are able to get a nice location for it. In this regard, it would be nice to let you know that food business mostly do well in the cities or any type of busy places, where commercial activities are going on.
Though food business is really very stressful, but must surely pay you off if situated in a favourable environment.
Transport business is a sure daily income business in Nigeria, and seems to be the easiest to startup.
Once you are able to get your medium of transportation, either a taxi, buss, tricycle (Ke-ke na Pepe) or even a motorcycle, then you are good to go.
One thing about this transport business is that many people neglect it a lot, many people think it’s a business for the less privileged or the uneducated ones, but the truth is that the business has changed many People’s lives even some graduates.
You should always know that some startup businesses are always a way of raising more capital for better businesses; so someone doing transport business may not really be planning to remain permanently in the business, as they can switch to their dream business at any time they are able to make up to the amount of capital they need.
To give you a surprise, I have interviewed many tricycle riders, and discovered that they make not less than N3,000 every day. So don’t you think such income would really be of help to raising capital for a better business?
I know of a graduate that was doing Okada work because he had no job, and no capital for any business. It was through the Okada that he raised capital for his electronics business which he is running successfully till today.
Car Wash Business
This is another daily income business that seems not to require a lot of capital to startup. Once you are able to secure your position, and get source of water supply; I guess you are good to go.
One interesting thing about this business is that once set up, you may may be making your income daily without having to spend on anything, especially if you are making use of free/natural water that you don’t have to buy.
The only thing you may need to buy is just your detergent which you may even use to wash many cars before exhausting a particular volume of it.
Location also matters a lot in car was business. It may really be a very lucrative business if situated in the city, where there are a lot of cars or car owners.
Salon business is one of the most lucrative businesses that bring daily income in Nigeria. One interesting thing about this business is that it requires skills, no one can easily jump into the business without having to learn how to barb, though you can still employ a barber if you don’t have the skills.
This is one of the businesses that people always neglect without knowing that serious minded barbers are making cool money from the business. It may not really be a business of the less privileged as many people may think; many big guys are really doing well in the business, it just depends on your ability to add swag or value to your own barbing business.
Football Viewing Center
Any business targeted at the youths is always a lucrative one; though anyone can be a lover of sports, but the number of youths that are die-hard fans of sports are really overwhelming. You may be surprised that one may decide to spend the last money in his hand, just to satisfy his passion for sports.
More interestingly, there are now a lot of football clubs out there, of which there must be at least one football match everyday; and hope you know that there are fans that can never skip watching a football match in a day?
This is to show you that football viewing center provides highly unexpected income on daily basis.
Advantages of Daily Income Business For Startups In Nigeria
The advantages of daily income business in Nigeria can not really be overemphasized. It has a lot of positive impacts on startups especially if there is no enough cash/capital at hand.
- It helps a beginner to know if the business is worth doing
A daily income business will help a starter to easily descern within a short period of time, whether the business would be a successful one or not, so that he will not have to waste all his time and efforts should it not be favourable to them.
- It motivates the owner
As a beginner who just started a small business, the major thing that will be ringing in their mind is “profit”. They will desperately be expecting to see start seeing profit within a little period of time, because that’s really the major reason for the business.
So, with a business that brings reasonable income on daily basis, a beginner would really be motivated to push forward towards the business.
- It helps a beginner to know how to adjust in his business
Since the business brings daily income, the owner would actually be able to track when his business has started going backward. For instance, let’s assume they used to make N3,000 as profit on daily basis; if the daily profit drops below N3,000, they will actually be able to know and study the causes inorder to fix them right.
Must I Go For Daily Income Business?
Seeing the advantages of daily income businesses in Nigeria, one may actually be tempted to think that they are only the type of businesses that are ideal.
But I can actually tell you that you must not go for daily income business; you can venture into any business as long as it’s genuine and its profit assured. It doesn’t really matter how long it takes to bring the profit.
So if you really have enough cash or capital with you, and may not be seriously in need of little cash for your needs within the little period of setting up your business, I think there may not be need bothering whether it’s a daily income business or not.
Who Should Go For Daily Income Business?
Most businesses that bring daily income in Nigeria are small or startup businesses; though there may actually be some large scale businesses that also bring daily income in Nigeria.
Thinking about who should go for daily income business in Nigeria, I would really say that anybody can actually go for the business; but it is mostly advantageous to a beginner who doesn’t have enough cash or capital with them yet.
If you know you don’t have enough money to take care of your needs for a little period of time without touching the money from your business, then it would be wise to go for daily income businesses, so you may easily make use of the daily profit to sort out your needs whenever there is need.
To explain this better, let’s assume that you invested the little and the whole money you had in a business that would bring profit in two months interval of time. Then what if you happen to have urgent needs that require little cash to be sorted, before the two months that you are hoping for profit?
I think you would really be frustrated even while you have a business. But one that has a daily income business can easily dip their hands on the little cash he has already gathered from his business, to sort out his needs.
So this analysis means that daily income business may be a great option for one that is yet to be financially strong or stable
Raising Capital With Daily Income Business in Nigeria
Just as I have pointed out before, most people go into daily income businesses just to raise more capital to upgrade to a larger business. So daily income business would really offer a great opportunity for raising capital for larger businesses.
This is why I said you should not feel bad doing any form of business as long as you are just doing it to raise capital. If it is not your dream business, you shouldn’t really be bothered since you are not doing it as your permanent business.
All you need to do is just to device a means and strategy of saving enough money for your dream business, within a little period of time. Your ability to save enough money very fast determines how long you would stay in the small business, and how fast you would be able to upgrade to your dream business.
Be passionately about the business
Though it may not really be your dream business, but the mistake you may make is failing to develop passion for the business.
Passion brings drive and energy towards the success of any business. If you are not passionate about the business, you may actually find it difficult to discover the best way to make out the best out of the business.
You really need to love the business for you to succeed in it; the more love and passion you have for the business, the more you will be able to pull that force of attraction for business success.
Don’t Neglect The Business
This is one of the worst mistakes that many people make while striving to raise capital from small businesses.
Because they think it’s not their dream businesses, some of them always neglect their startup business, thinking they don’t worth their time. But the truth is that if you neglect any business, the business will definitely neglect you.
But if you see the business as the true means through which you will raise your capital, giving it the best time it needs from you; definitely such business will never disappoint you.
It Needs Your Dedication
Dedication is all about being committed to what you do, majorly for the sake of success. For you to make the best you need out of that small business, there is need you put in all your best in it; your mind, your spirit, and your soul.
Think about the business all the time, your discussions should be more of the business, your researches should be more of the business, your improvements should be more of the business.
Discipline Yourself To Save
Since you are always getting your profits on daily basis, it would really be wise if you are as well dropping some savings on daily basis.
Just find the best means that works for you, towards keeping part of your daily income as savings. It could be through saving in pigeon hole, saving in the hands of any savings agency, or any other genuine means.
Let’s assume you are making N3,000 as daily profit in that small business; why not decide to be saving at least N1,500 every day? I think that would really help you to gather enough capital for your dream business within a little period of time.
Dreaming to start up your dream business but doesn’t have enough capital for that, there may not really be need to bother so much as you can actually raise your capital through some startup businesses that bring daily income in Nigeria.
Though these businesses are called small/startup businesses, most of them are actually lucrative even more than you think.
Sometimes, it is not always right to see Loan as the only option for raising capital for your dream business, as you can actually raise your capital in peace through some daily income businesses you can do here in Nigeria.
Just think about any these daily income businesses as discussed here in this article, as they are actually capable of giving you the type of income or capital you never imagine.