Sunday, 23 June 2019

Three Simple Lucrative Business that yields high return

         


  The saying that gold is precious to those who know the value is now exchanged with the fact that gold is precious to those who make use of it, knowledge is not enough but simplicity and applicability. So if you can venture in to one of  this business with positive mindset, I believe that at the end, you will smile to the bank.  Listed here are three simple and lucrative businesses that you can start today with little or
no capital.

            1.       Ice Block Business

This business is a very simple one and involves the production of ice blocks in marketable quantities. This business is easy to start and manage. The only major challenge is to have a standby generator that can carry 2-3 deep freezers.
Ice block business flourishes both in towns and villages especially where there is an incessant power failure. The most sales are done in the morning when customers come to buy the products for their daily business. The water is poured in metal cylindrical containers and forms strong sustainable ice within 12-20 hours with constant power supply. This business is ideal for unemployed youths, housewives, retired civil servants and others.


                    Market/Competition
Ice block business is springing up  everywhere by the day but ice block is still in high demand. Customers that provide the market include hawkers, eating joints, drink dealers and others. Price, location and accessibility of distribution point are good marketing strategies for the business. 

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                     Income
A block of ice costs about N40, N80 while a bag of ice costs around N250, N300. A small scale ice block dealer rakes in about N3,500, N6, 000 daily.

                    Management
Requires minimal labour and management and could be done conveniently by the owner.

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     2.    Restaurant Business

The large size of the Nigerian population aids the viability of the restaurant business. Moreover, the increasing need for the people to get to work early in the morning and close late in the evening has  the patronage of restaurants. The category of restaurants we are considering here are those for local food.

                Market/Competition
Every restaurant has its own unique share. Naturally, the location of each restaurant automatically brings its market.
The key success factors here are tasty meals, cleanliness, courteous services, relatively cheap price, creativity and comfortable environment.                       
                         Material/Machinery

To have a decent small-scare restaurant, one requires the following: accommodation, fridge/freezers, tables and chairs, cutlery, plates, cooking utensils, gas cooker/stoves, television, fans and a standby generator.
                    Management
Apart from the manager, 4 other staff are required to cook, serve and wash plates and dishes.
Training/ Skill Requirement
Basic cooking knowledge and managerial skills.

                   

              3.    Day care Business


Following the increasing percentage of Woking class parents,  there is an equivalent increase in the demand for nannies, and child minders. How ever for the fear of safety if babies are left at home with nannies, parents are seeking alternative to home caring, to prefer a common place where children (babies and toddlers) can interact with others, hence the emergency of daycare centers. Though very lucrative, but this risk is high.
             
               Market Competition

Patronage is done mostly by working class parents or single working mothers. The degree of patronage depends on locations. Locating on high brow area will mean that the target is the top segment of the society who are willing to pay more if the service is good. Generally, if well managed and publicized, the patronage will be high.
                    Management
Depending on the number of the kids, 2 or more hands will be needed and having an auxiliary nurse will be a plus .

                  Legal Requirement

Its activities are limited to just Child Caring, there may not be much problem with the laws of the land. How ever, it will be necessary to get the necessary approval if the centre is upgrading to Nursery/Primary Education.

              Training Requirement
To start off this business,there is need to recruit experienced hands. As the day care progresses.
 



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