It
is becoming increasingly difficult to make ends meet with just one
income source. Thus more and more people are investigating the
possibilities of starting their own extra income home business. Most
of these part time endeavors are started and operated from the
comfort of their home.
Before
you start: the first thing you must do however is some basic market
research. Find out for yourself, first-hand, just how many people
will be interested in your proposed products or services, and would
be willing to stand in line and pay money for it.
This
is known as defining your market and identifying your prospective
customers. If after checking around telling people about your ideas,
with a whole lot of people over a period between 1 – 3 weeks, you
get the idea that these people would be paying customers; your next
effort should be directly towards the “detailing” of your
business plan.
IF
CRAFTING A BUSINESS PLAN WILL NOT LET YOU KICK-START A BUSINESS, I
WILL TRY AS MUCH AS POSSIBLE TO GIVE A STEP BY STEP GUIDE TO WRITING
A BUSINESS PLAN AND ALSO GIVE YOU SAMPLE OF A BUSINESS PLAN I
DEVELOPED.
The
more precise and detailed your plan covering all the basis related to
how you will do everything that you needs to be done- the easier is
going to be for you to attain success. Such a plan show your start-up
investment needs, your advertising plans, your product costs and
procedures, your sales program, and how your time would be allocated.
Too
often enthusiastic and ambitious entrepreneurs jump in on an extra
income project and suddenly find that the costs are beyond their
abilities and the time requirements are more than they can meet.
It
pays to lay it all out on paper before you get involved, the clearer
you can “see” everything before you start the better your chances
for success.
Have
you always wanted to become your own boss and take control of your
time, work at home using your spare room/space, backyard or your one
room apartment as an office and residential but never had a clue of
money making ideas to pursue your dream? You do not have to wait for
manners to fall from heaven before you take first step to financial
liberty, just one of these money-making idea can be your blueprint
for success. The list is not exhaustive but I believed you can pick
an interest in one or two of the businesses listed
- CONSULTANCY SERVICES: - This is the foremost of the small businesses one could ever think of; one can basically consult on almost anything and everything. Just think of any special skill in your possession and pronto, you can make a reasonable income from it. E.g. marriage counseling, business consult, legal consult, property consultancy, educational consults media consultant, etc. One do not have to possess any capital to start consulting, just some contacts on your phone, email addresses and referrals from family and friends, you are good to go.
- RESTAURANT: - No matter how poor people may be, food still remains the number one basic necessities of life before clothing and shelter. If you can do it right, it’s one of the surest way to crossing the poverty line. If you are still in doubt, please visit Equal Right in Somolu, Amala Sonola in ogba Aguda, Ewa-Agonyin palace in Unilag etc. With a capital between N50K – N100k, you should be making a residual income from it.
- FASHION AND TAILORING SERVICES: - From time immemorial fashion business has been dynamic and ever present. From Paris to New-York, Milan to Lagos, Beijing to Joburg, fashion statements defies national/ethnic boundaries. Different occasions demand special outfits, one easily take advantage of the trend in fashion consciousness of the people to earn a decent living. See https://www.facebook.com/bazzancouture?ref=hl
- REAL ESTATE AGENCY: - By finding properties for prospective clients, you perform a valuable service for both landlords and tenants. Advertise that you have listings available for houses, apartments, flats, rooms, offices, etc. You can either charge a one-time fee for finding accommodations or work on a commission. In this line of business, capital or professional qualification is not really required as a start-up, just have the right information.
- RENTAL BUSINESS: This has mushroomed into an attractive new business opportunity. People like to borrow, do-it-yourself rent professional equipment. Many people are doing well these days by acting as rental agents for all manner of things - power tools, trucks, cars, electric generators, etc.
- LAUNDRY/IRONING SERVICE /CLOTHES CLEANING: Everyone has dirty clothes for laundry and ironing, but many of us do not have the time to do it all, this is where you would come in and make money by doing all the laundry, especially areas where power supply is erratic. If your backyard is large enough to store all the clothes, sort the clothes and start making money, then this business could just be for you. With a capital between N20K – N100K this business could turn you to a millionaire over a period of time.
- HOUSE CLEANING SERVICE: Many home-owners and apartment dwellers will welcome help at "house cleaning'. Charge a flat fee for the amount of work that must be done. Make arrangements with firms that provide workers for washing windows, cleaning carpets, washing walls, painting, etc. and collect a commission from them. Tell your friends and family who are moving to a new house or changing offices, with the help of flyers or handbills you could reach out to a large audience.
- MAKE AND SELL CUSTOMIZED JEWELLERIES AND BEADS: Home-made costume jewellery sells, sell directly to jewellery outlets, gift shops, hairdressers shops, clothes boutiques, and by direct mail. It is possible to start with limited capital of N5K- N20k.
- GAME CENTERS: The game center concept is good both for those who have jobs and those who want full time involvement. A game centre is a place where people mostly young come to play computer basic games like play station, Nintendo, Atari, etc. You will also provide avenues for refreshments like ice cream, snails drinks etc. Gaming centers charge customers who come to their centers between N100.00 – N500.00 depending on the area, and the types of customers you are dealing with. If you start small, you can make between N5k – N20k per day. There is a classical game center at Mende by Maryland, it is built with a portal cabin and looks beautiful as well.
- FISH FARMING: If you have been contemplating on a small business and haven’t heard about fish farming, then you are missing something. Over the years, quite a few people have made fortunes from fish farming; as the population is swelling and protein needs are far outstripping the available supply, fish meal is always a winner if done well. Fish farming is a sure bet business if you put the right structures in place. More and more people like fish due to its low cholesterol protein, All you need do is to get a space, buy or construct tanks, buy finger lings for between N10 to N20 and feed them for 4 to 6 months, then sell from between N1500 to N2000 depending on weight and size. But you need to have a basic knowledge of fish farming to start this.
- WEBSITE DEVELOPMENT: Experience, training or licensing may be needed. Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. But lately we have seen ready tools on some hosting site like wordpress, ipage, simplesite and so on, on this hosting site are ready tools for even the novice in web design. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design--is it wild and contemporary, meaning brilliant colors and fun graphics? Or will more classic colors like black, navy blue and maroon is more appropriate? Many small businesses in Nigeria does not have a web presence, even the bigger corporations only possess a web banner or billboard, you can propose an interactive website to small businesses at a cheaper rate of say N10k or more and start building your client lists from there. This business requires little or no capital to start.
- DAY CARE: If you are the type that naturally loves kids around, this is an opportunity for you to tap into. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in this part of the world as the task of professional career seems to be more demanding. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a home based childcare business can get off and running immediately. If you are living in at least a 3bedroom apartment and there is
