12 Profitable Businesses that fetches Higher Income as a side hustle

15 Profitable Businesses that fetches Higher Income as a side hustle – It’s a recent trend to want to evade the normal 9am-5pm Job. Such Jobs could be Taxing and Strength-sapping yet not accompanied by a Great Pay. Almost everyone wants to Follow Passion in the sense of it or more honestly, boost their income to aid their comfort and coziness.

It’s a Beautiful thing to have a Means of Passive Income.

Active Income are no longer Sustaining.

But the journey to establishing a Side Business that can accrue Passive Income is one requiring much Sacrifice, Commitment and Dedication.

If you can hit it right, you’ll be glad you did. Think of the Steady Stream of Flow of Income. You can’t afford to miss this.

12 Profitable Businesses that fetches Higher Income as a side hustle

Let’s examine a few of these lucrative businesses that can generate a Passive Income for you.

1. TRANSPORTATION BUSINESS

Movement is one of the Inevitable Activities of Human Existence.

Everyday, People move from place to place.

An intra-city or inter-city transportation company is a Great idea.

Transportation Platforms like Uber, Taxify or the other available ride sharing platforms are open for enrollment and you can earn money, working only when you want.

Research has shown that an Average Uber driver earns about N75,000 – N100,000 a week. An average Toyota Corolla is good for this business because it is cost-effective and fuel-efficient.

Also, the parts are very affordable in case of repairs.

Depending on the Car dealer, Toyota Corolla costs approximately N1.3 million for a Nigerian-used one and the directly imported one cost about N2 million or less.

It is not Compulsory to drive it yourself; you can give it out on hire purchase to a driver. You both will agree to a Total Sum and the driver would pay you in installments until it accumulates.

This is a preferred method. It ensures that the driver takes extreme care of the vehicle and it motivates the driver to put in his best into the business since he knows that upon completion of the total cumulative sum, the vehicle would be his.

If you can’t meet up with the needed funds for a Car, you can consider getting a tricycle (Keke Napep) which costs below N1 million for a brand new one.

2. POULTRY FARMING

The Major Consumed Protein in the Country today is that which comes from Poultry that is, chicken, turkey and eggs. This gives you an idea of the vastness of the market for poultry products.

There are numerous business opportunities in poultry farming that anyone can venture into.

They include:

-Rearing of broilers for meat production 

With adequate marketing plan, you don’t need to only rely on festive seasons’ sales. You can produce and under special agreement, supply to restaurants, hotels and even to the local market.

-Rearing of layers for egg production

You can buy layers day-old chicks from a reliable hatchery. It is economical and less capital-intensive.

The Eggs can be sold on Wholesale or Retail.

-Setting up a hatchery

Poultry hatcheries are set up to produce chicks of several breeds for sale by the artificial incubation of eggs. Most broilers and layers farmers source their day-old chicks from hatcheries.

Perfect Ways of Raising BUSINESS CAPITAL that will enable you start your business now

A large hatchery can produce thousands of chicks on a daily basis.

-Setting up a poultry feed milling plant

Good Poultry farmers don’t compromise on the quality and quantity of feed that they give to their birds, as it has major impact on the growth and egg yield of the birds. Hence, this is a potential booming market.

-Setting up a cold room for storage & sales of frozen poultry meat.

-Veterinary services for poultry farms.

-Sales and distribution of poultry feeds.

You don’t need so much.

Necessary Tools needed are: –

Brooders – for providing heat for the birds;

Crates – for collecting and storing eggs;

Perch – used in deep litter system to provide resting places for the birds;

Drinkers – Used to provide drinking water for the birds;

Feeders – used to provide feeds for the birds and

Miscellaneous tools like wheel barrows, shovel, buckets, scoops, saws, hammers, rakes, etc.

3. BARBING SALON

Depending on the kind of service rendered and location, Most men in Nigeria spend within #300 – #1000 weekly as they go to a barbershop to cut their hair or shave their beard.

This business has a ready market and is easy to set up with a moderate startup cost. With a capital of N300,000 to N500,000 you can set up a good salon.

Get a business space in a residential area where people can easily access.

Furnish your space – install a good television, wall mirrors, standing fans, wall cabinet for keeping cosmetics and some equipment, sound system, rotating leather chairs, chairs for waiting customers, cover clothes, towels etc.

Get all other necessary equipment & materials – The equipment you need for your barbershop include: combs, good clippers, hand gloves, brushes, dusters, and cosmetics like hair relaxers, hair sprays and dyes, aftershave, towel warmers, etc.

Get a good power source – If there is no reliable electricity in that area, then you would need an alternative source of power. A Generator.

You can also sell some products in the barbershop – like aftershave, shampoo, hair and body creams, perfumes, shaving sticks and powders, etc

4. TUTORING

Tutoring is one of the businesses that one can venture into and be sure of almost not spending a dime.

All you need to started is Knowledge!

Be knowledgeable in any subject and show a mastery of that subject and you’re good to go.

You can use your home premises and teach kids around your locality or offer private home lessons.

As a tutor, you can earn as much as ₦30,000 monthly by teaching a single student in the comfort of his/her home.

Envisage the Income when you have more kids.

5. SPORTS VIEWING CENTRES

Nigerians Men love football and most football matches take place during the weekends or evenings.

Hence, this is a perfect business for people to make money.

You basically need a space or shop, the price may vary depending on location, and 2 – 5 television sets that are big enough to see. You will also need a generator, chairs and DSTV subscription.

Sports viewing centres charge between N150 and N300 depending on the location and importance of the match.

If you have a space that comfortably takes 100 people, you will be making from N15,000 to N30,000 every time there is a football match.

6. PHONES, LAPTOPS and ACCESSORIES SHOP

Phones are among the fastest selling products in the market. Mobile and electronic accessories such as pouches, chargers, USB cables, HDMI cables, earphones and more, can be sourced on Alibaba, Ali Express, etc.

The more you buy, the lower the price. And they are light so shipping won’t be a burden.

You can resell and make much profit.

Many chargers and phone cases sold for N1,500 to N2,000 online are bought on international e-commerce sites for less than N500. You can sell them physically, via social media channels, or through e-commerce websites.

7. RESTAURANT/BUKA

A Restaurant must be Well Set, in a Clean Environment, Of Good Quality and known to serve High Standard Meals

The Capital for this Business can vary depending on your scope of business and target customers. If your potential customers would be high-income level customers, you can set up an eatery, but if you wish to serve low and medium income customers, then you could simply set up a small roadside “buka”

The basic materials you’ll need for this business include: cooking pots, plates, spoons, trays, bowls, knives, catering trays and food boxes, coolers, chopping boards, oven, serving utensils, catering plates and glass racks, table decorations, table top accessories, linens and table coverings, uniforms for cooks and waitresses, hand gloves, refrigerator, garbage bags for dirty linen, micro wave, deep freezers, mixers, delivery van, blenders, cooling vans, rolling carts, dispensers, foil etc.

Other catches include providing catering services at ceremonies, mobile catering services, home delivery services, etc.

8. POS PAYMENTS

If you live in a place where banks aren’t many or the ATM rarely works, you are at an advantage.

You can handle e-payments for people and make some good money. You can charge between N100 and N500 per transaction and gradually make a lot of money from the teeming population.

9. MAKEUP ARTIST

Makeup artists earn between N3,000 and N200,000 or more, depending on the occasion. You don’t necessarily need to have a shop in the early stages as you can utilize the social media to showcase your skills and gradually build your business.

You will need to invest in a good camera phone or a small digital camera so you can post great pictures of your work online.

You can also add the sale of basic and medicated cosmetics like creams, make-up items and beauty products.

10. ONLINE ADVERTISING AGENCY

Many Companies and businesses in Nigeria are taking their businesses online to leverage the massive community of Nigerian internet users and market their products.

This influx has created another business opportunity in Nigeria for good digital marketing experts.

You can setup your own online advertising agency today and make millions.

Build up a Strong Presence on any of the social media platforms and you could quickly be approached by major brands that sell products or services related to the type of content you share.

If you have hundreds of thousands of followers, you can easily charge anywhere from N15,000 – N100,000 per post or more.

Research has shown that Lasisi Elenu and Maraji charge within N500,000 and N2m per post.

11. FREELANCE WRITING

Freelance writing is one of the best low cost business ideas to venture into because it literally requires an investment of almost N0.

However, great writing skills and enough time to spend on the internet looking for writing gigs is required.

Some freelance writers who write for international clients get paid as high as $150 to $2000 per article.

The Fascinating part of this business is that you can offer your writing, proofreading, and editing services from the comfort of your home, working only after work and leveraging the power of the internet.

12. PHOTOGRAPHY

Photography is a big thing in Nigeria. Everywhere around you, is an event every other day and this says much of how often the services of a photographer is needed.

You can become a mobile photographer by offering your services at weddings, birthdays, photo-shoots, and other events without even owning a studio or having expensive equipment.

Photographers charge N200 – N500 to take pictures at events and charge more if it is a photoshoot session.

You basically need a good camera (which may cost N50,000 – N500,000), a camera bag, lenses, memory card, photo printer, photo editing software, etc

To Know is One thing. To Do is Another.

Take Actions with this Knowledge.

Build a Passive Income Today.