By Smart Emmanuel
The following are some striving businesses with high turnover during the on-going recession in Nigeria.
1 Food business: Either raw or prepared food, you must make sales all the time. No matter how broke a person is, when his or her belly needs refill (hunger) such a person will find a way to get food to eat. Research has shown that food sellers don’t go without sales under any condition. For example, garri is a popular consumable in almost all households in Nigeria therefore; sellers of garri will always make sales no matter the condition or situation of the economy. Other examples are bread, rice, beans, semovita, yam and more..
2 Transportation: As the country goes dip into recession, many car owners are seeking alternatives by taking public transportation, making that sector more bubbly with patronage. The best time to go into transport business is now. Also, you can get a car and register it with Uber and get someone to drive it for you if you cannot do it yourself. The last time I checked, an average Uber driver in Nigeria makes between N150 to 200 thousand Naira or more in a month.
3 Dry Cleaning Business: People look good without season. Therefore no matter the meltdown, people manage to spend some money on washing and ironing of their cloths. Setting up laundry business is a good idea since it is not capital intensive to setup if you want to start small.
4 Coaching /Tutoring: This is the time to take on teaching as a part time or full time profession. You can start home teaching of students and adults and get paid. You don’t need much money to start, all you need is word of mouth, start with your neighbourhood.
5 Repair services: If you know how to fix cars- body work, engine, electrical work etc, you will always make money because Nigerians treat their cars like babies, no matter how low they are on cash, they will always raise money to fix their cars or make them look good. Repair services are recession proof. These also include plumbing, AC repairs, Electronic fixing, phone repairing and many more.
6 Hair Salon: If you know how to make hair or barb, just go ahead and set up and start making money immediately. An average man cut his hair once in a week in Lagos for example, while ladies make their hair every time at least once or twice a month. Recession or not, this ritual is regular. So take advantage of this.