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The best and profitable online businesses to start in Nigeria in 2020

3 monitors in Nigeria serving to do online businesses with a dark blue city behind
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With the changes that the world experiences right now, one can see that the normal startup business needs more than just a physical store.

More often than not, businessmen seek the help of social media so that they could promote their products and services.

That way, they could reach out to more people. Word of mouth also helps in this scenario especially through the usage of online advertisements.

Of course, a person, while not directly needing the service or product offered, could suggest it to someone who needs it.

That said, if you plan on investing in a business, you need to do research first. You need to know if the demand for your product or service is high.

RELATED: DIFFERENT WAYS HOW TO MAKE MONEY ONLINE FOR BEGINNERS

Also, having an online business means that most of your transactions would go through an online portal. Of course, not online businesses involve selling products or offering services.

Online businesses or jobs like blogging would let you earn through the traffic that you have on your site. In this article, the various examples of best online businesses in Nigeria would be discussed.

Here is a list of the best online businesses in Nigeria:

Blogging

As mentioned above, blogging has now taken the internet by storm. A lot of people do blogs and earn by uploading various content.

To generate traffic in their weblog, they have to upload some interesting content.

Bloggers normally take some videos of their travels, review products, cook recipes, talk about different topics, and many more. Some of them even do live-streaming.

Gamers normally do this by live-streaming themselves while playing a particular game.

For console gaming, they ask their viewers and followers for suggestions on the game that they want to be featured in the stream.

Role-Playing Games take the lead most of the time but first-person shooting games also make the cut.

Strategy games wherein the blogger go head-to-head with other players or fighting games where they fight one-on-one with another player.

Some bloggers upload their videos on streaming sites and when the views of the video reach a certain amount, they earn some money from it.

They also ask for donations from their viewers so that they can provide better content in their videos.

Affiliate Marketing

Doing this online business means that you also need to create a blog. Why?

Because you will use the blog to promote the products that you want to sell.

The good thing about this is that you do not need a product on-hand.

All you need to do is to promote it and every sale that you make, you earn a commission from it. That is how you earn from affiliate marketing.

Aside from promoting the product, if the seller sends you a product, they can also request you to do a review about it. Y

ou then will record yourself while unboxing the product, making comments about the product and practically using the product.

This means you will show your viewers how the product works and how can it help the people in their daily lives.

By doing a review of the product, convincing people to purchase it will be easier.

Of course, your review should be honest so that you can recommend the product without any issues.

Once done, sales of the product should begin coming in and you get paid through a commission of the sales.

Freelancing

To become a freelancer, you need to have a specific skillset for specific jobs.

If you check online for freelancing jobs and websites, you will see that a great number of people earn good money here and the people who post a job online get what they want.

Of course, you need to know what you can do; what skills you have that can attract employers to hire you.

Experienced workers think that because they have been working at an office for many years, getting a freelance job would be easy.

Freelancing does not work that way. You can have 50 years of work experience under your belt but it would still not matter to employers.

What they want is that you can get the job done through your skillset. That said, the freelancer must not take jobs that they could not do or not have the skills to complete it.

In freelancing, one does not need to be paid for a fixed salary. If you know what you can do and excel in the skill that you have, you can ask for higher pay. Never undersell yourself.

Online Videos

As mentioned in one of the entries above, uploading videos online also provides good pay.

Of course, it depends on the content that you have on your videos. If you can create multiple content, then you can even create multiple accounts and earn from each one.

However, focusing on one video channel should be enough as long as you place interesting content in it.

Making online videos is our top choise in the best and profitable online businesses to start in Nigeria in 2020 list.

Some people take videos of themselves detailing their daily lives as if starring in a reality show.

Others upload videos of them cooking foods. One interesting topic that one can see in streaming sites right now is people who live in their 4×4 vans.

They make videos showing how they build their tiny homes inside their van. If you think that they live in it as a recreational vehicle, think again.

Some of them live in their vans full-time. They work freelance jobs while on the road, earn money through their videos and travel around the country. Lots of earning opportunities there, right?

Social Media Marketing

If you always use your phone or laptop to log in to your favorite social media site, why don’t you use it as a way to earn cash?

A lot of business owners could not squeeze time in their busy schedules to go online and promote their products and services.

This is where you go in. You can get hired by them and do the promotion for them.

best online businesses in Nigeria blackboard with white words online marketing

Of course, you will need to generate and create leads for this to work.

This means simply posting on a social media site would not work. One should create a dedicated page for the product and use the page to promote it.

They can also join social media groups that talk about the product that they are promoting. Using social media is a surefire way to increase sales.

Creating and/or buying websites then reselling them

Buy and sell does not only pertain to products. If you have created a website with a specific niche and have generated high traffic in it, you can then sell the website to businessmen who need a website so that they can sell their products online.

Of course, you will only sell your website to someone who has the niche as the site itself.

For example, your website should promote confectionery and sweets then sell it to businessmen whose business is related to the aforementioned subjects.

You can also make a blog about a certain product or service then sell them using the technique above.

If you do not have the time to create your own website, search the Internet for sites up for sale.

Tweak it a little bit then sell it after a few months or even a year. For sure, the price of the website has gone high because of the changes you made on it.

You should make a profit from this by earning at least more than half of the website’s price when you first purchased it.

Web Hosting

For this one, you will need an ultra-fast computer and use it as your server or rent a much larger server.

One can earn in this type of business through business owners that need something for their websites to go online.

Once you have the setup above, you can talk to businessmen and tell them that your server will host their websites so that their products and services could go online.

Web hositng is our second choise in the best and profitable online businesses to start in Nigeria in 2020 list.

You need to be tech-savvy for this online business since you will maintain your client’s website 24/7.

You will fix any issues in your server and make sure that your connection to the Internet will never be interrupted.

When a website goes down, it limits the number of people who can visit it so it will become a loss of sales for your client.

That said, keep your equipment well-maintained so that you can take more than one client to host.

Do drop-shipping or open an online shop

If you would check the web right now, you will see a multitude of online shops. Each has different products up for sale.

You can see those big online shops that have branches/online shops all over the world and you will notice some smaller online shops that cater to the location where the business started then once it received the exposure that it needs, it can go worldwide.

Products from these online shops vary from clothes, gadgets, power tools, almost everything under the sun In fact, one does not need to go to a physical store anymore.

All they need to do is to go online, search for the item they need, make the order, proceed to checkout to pay for it, and wait for the item to arrive at their homes.

Now, if you do not have the product to sell, you can do drop shipping instead.

You just need to create a blank online shop, find a supplier of the items that you want to sell, clone their inventory then place it on your online shop.

Once a customer makes an order, this order directly goes to the supplier. They will ship the item to the customer and you will get the payment for it.

Website Designing

A lot of people design websites as a hobby. They even do this as an experiment or as a project in school.

People who could not create websites can use these designers’ skills to have a website of their own.

The paygrade for this type of business/job is quite high since the skills to create a website takes years to perfect. Designers get paid handsomely after each project.

Of course, the time to complete a project is relative. It would depend on the design of the website itself and the purpose of the site itself.

Needless to say, one must have a high proficiency in coding and programming to create websites.

Some people just read books or watch tutorials and through constant practice, they begin creating websites of their own and when they become really good at this, they begin offering their services either at an office or through freelance jobs.

Digital Products

Ever seen e-books for sale? That is a digital product for sale right there. If you can create

  • Apps
  • Downloadable content
  • Software

among other things, then you can sell them to investors.

Now, if you have the means then you can manage the whole thing while getting finances from the usage of your product. Most social media sites and apps work this way.

Of course, some apps get sold to companies with the same niche. These apps would then become a part of their business and the creator of the apps will get paid for the app itself.

Selling your own products is our third choise in the best and profitable online businesses to start in Nigeria in 2020 list.

Content writers have all the means to create e-books then they can sell them for a high price.

These e-books have various content; from how-tos to romance novels to science-fiction short stories.

They can upload a small part of the book then for the reader to read it all, they need to purchase it.

Teaching Online

Since a lot of people turn to the Internet for information, people with skills became online teachers.

What they teach depends on their knowledge and skill. Most online teachers help train people in learning a different language. Others become tutors for children.

Best online businesses in Nigeria Conslusion

This list about the 11 best online businesses in Nigeria could go on and on. Check this list for the one that you know you can do and start earning today!