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Best Small Business ideas

Are you an entrepreneur looking for the best small business ideas for 2013? Do you need a list of business ideas for beginners or startup business ideas with low investment? Do you want to quit your job this year and start a business? Then please read on because this article is for you.

I once wrote an article on how to make a million dollars fast and how to start a business with no money. So i this article, I will be revealing the best small business ideas, best franchises opportunities, new startup business ideas, home based business ideas for students and who wish to take the entrepreneurial bull by the horn this year. This list of entrepreneurial ideas will prove useful to all entrepreneurs; regardless of the available start up capital.

An entrepreneur with a startup business capital of $1,000 or less can take advantage of the business opportunities list here just as the entrepreneur with a million dollar startup capital. The only difference between these two classes of entrepreneurs will be their level of play. So don’t be deterred by the magnitude of startup capital at hand; after all, Rome was not built in a day.

Before I list my best small business ideas for the year, I want to clearly state that this list does not in any way replace the need for you to do a feasibility study and come up with a winning business plan, so take note. Also bear in mind that this list does not in any way minimize the business challenges involved with starting a business; neither does it make the entrepreneurial process easier, nor does it eliminate the risk of business failure.

  Who will Benefit Most from these Proven Successful Small Business Ideas

  • Men
  • Young people
  • Entrepreneurs
  • Women and House wives or Moms
  • Kids and Teens
  • College students
  • Employees and Civil servants
  • Retirees

  A useful advice for those seeking the top small business ideas for 2013

In as much as I have taken pain to prepare this list, I want to point out an honest truth and that truth is this:

“There is nothing like the best business idea or opportunity. There is nothing like the best business environment or business plan, you just have to work with what you have and understand it to the core.”

The truth is that you can find success in any industry or sector you choose. All you need is to understand your customer’s need and add a little innovation to your business. So whether you are searching for internet business ideas, good work from home low capital business ideas or manufacturing business ideas; you will surely find this article useful. I think I have said it all; it’s up to you now to either accept the reality or continue to chase shadows. So if you are still ready for something new; then read on as I share with you 50 great startup business ideas for the year.

How to Create or Choose the Best Small Business Ideas

 Top 50 List of Best Small Business ideas: Startup Business ideas for 2013

  • Start an internet business

Best Online Business ideas – Do you intending starting an internet business or a brick and mortar? Well, regardless of the industry you intend breaking into or the business idea you have your sleeves; it is advisable you build an internet company around it. Putting your business on the web is probably the best venture ever. Why? The reason is because the internet is still a rapidly growing trend, thus making an online business a hot one. All you need to start your own internet business is just a little innovation on your already existing idea. Jeff Bezos did it with Amazon, by putting a bookstore on the web. You can do the same.

  • Start a food retail or wholesale business

Food retail business is one business I am passionate about; especially staple foods. Why? The reason is because humans must eat to survive. Regardless of the economic condition, or your personal financial situation; you must eat. With an ever growing demand for food worldwide, propelled by a rapidly bursting population; the food business is something you should start today.

  • Green business ideas

Green Business ideas – The green business industry is a rapidly growing trend. Just as the internet was a fast growing trend in the 80s, the green business is the next wave of trend that will create millionaires and billionaires. In fact, this is an innovative hot business opportunity with a future potential. With a increase in eco-consciousness and the need to conserve energy; you definitely need to go green now before it’s too late. You can practically venture into the industry in any capacity; from retailing energy bulbs, solar panel and installation, inverters and power generators, etc.

  • Start a cleaning business

How to start a janitorial business – You can start a cleaning business in any capacity ranging from carpet cleaning, floor cleaning, roof cleaning, office cleaning, foreclosed properties cleaning, home cleaning, etc. You can also operate this business on a part time basis.

  • Start a poultry business

How to start a poultry farm business – The poultry business itself is a broad niche. You may decide to focus on Domestic fowls or hen, ducks, quails, turkeys, guinea fowls, peacocks, etc. You may also decide to go into operating an incubator or hatchery, poultry feed production and retailing, egg production, etc.

  • Start a catering business

How to start a catering business from home – As a caterer, you can choose to go into full scale catering services alongside event planning services or you may decide to specialize on food cooking, snacks baking or cakes, barbeque preparation, etc.

Service Business ideas

Industry Based Business Ideas

Regional Business ideas

Gender Based Business ideas

 Skill Acquisition

Top 50 List of Best Small Business ideas: Startup Business ideas for 2013

Small Scale Business Opportunities

Five Conditions That Makes a Business Opportunity Feasible

What makes a business opportunity feasible? How do i identify a good business idea or opportunity? How can i determine the profitability of a business venture before investing in it? I advice you read on to find out.

Everyday, I come across entrepreneurs who are so excited because they have just thought up a new business idea or discovered a business opportunity with massive potential. Being an entrepreneur and investor, I am often privileged to have a sneak preview of business investment opportunities before they are launched or made public.

Sometimes, I am given the opportunity to invest in such businesses. Now how do I know the right business opportunity to invest in? What benchmark do I use to analyze the potentials of a business opportunity? What makes a business opportunity feasible? How do I know if my business idea is viable? If you are willing learn the secrets to finding feasible business opportunities, then read on.

In this article, I am going to highlight five factors you can use as a yardstick to know if the business opportunity you are pursuing is feasible. The five factor I am about to highlight does not in any way replace the need for a detailed feasibility study. To know the preliminary feasibility or viability of your proposed business opportunity, the checklist below will help you.

  Five Conditions That Make a Business Opportunity Feasible

1.  Real demand

The first condition that makes a business opportunity viable is market demand. Your business idea or opportunity must have real market demand. Your business opportunity must either satisfy a need or solve a problem.

2.  Good return on investment

The next condition that makes a business opportunity feasible is the ROI. Any business opportunity you intend to pursue must show a strong possibility of yielding a good return on investment. Moreover, all a business is meant to do is to either satisfy a need or solve a problem for a profit.

3.  Competitive

The third condition that makes a business opportunity feasible is its competitiveness. Except your business idea is the first of its kind, there is bound to be competition. If your business idea or opportunity is not competitive, just forget it because it will never stand a chance.

4.  Meet the objectives of the entrepreneur

This point is very clear and easy to understand. Before ever starting a business, there are certain aims and objectives you intend to achieve using that business as leverage. For a business opportunity to be viable, it must meet your objective.

5.  The competence of the entrepreneur and his team

Lastly, the most important factor that makes a business opportunity worth pursuing is the competence of the entrepreneur and his business management team. A business opportunity will only be feasible if it is backed by a strong business team. I say this because I have seen good and solid business opportunity fail to breakthrough because of the incompetence of the team.

In conclusion, these are the five conditions I use to determine the preliminary feasibility of any business opportunity I intend to take advantage of and I hope they will serve you as well.

How to Analyze or Assess Small Business Investment Opportunities

How do you analyze a small business opportunity? How do you differentiate good small business investment opportunities from bad ones? How do you assess a business opportunity to know if it’s worth pursuing? These three questions will be thrashed out in this article.

“There are no bad business and investment opportunities, but there are bad entrepreneurs and investors.” – Rich Dad

Savvy entrepreneurs know that not all business opportunity that appears viable on the outside is really viable. It takes a trained or experienced eye to tell a good business opportunity from a bad one. So today, I will be sharing a checklist that will help you analyze or assess a business opportunity.  If you are ready to learn, then below are six checklists to analyzing or assessing a business investment opportunity.

 How to Analyze or Assess Small Business Investment Opportunities

1.    Industry and Market

The industry and market of the proposed business plays a vital role in helping you decide if a business opportunity is worth pursuing or investing in. You can analyze the market or industrial situation by asking yourself or the promoter the following questions:

  • Does a market exist for the business idea?
  • What is the size of the market?
  • What is the growth rate of the industry?

These questions will help you gain a further insight into the nature of business opportunity you intend pursuing. It will also help you know if the promoting entrepreneur did his/her homework properly.

2.   Length of the window of opportunity

Another point to consider when analyzing a business opportunity is its length of window. What I mean by length of window is this;

  • how long can the business opportunity or investment remain accessible?
  • Will the business investment remain open and accessible while you try to raise the required investment capital?

Based on my experience as an entrepreneur, I know that some good business opportunities come with a short access time frame, meaning they won’t be available for too long.

It is important to know the length of window of an investment because the investment might not still be open by the time you’ve rounded up the required capital for its exploitation. Examples of business opportunities with short window length are contract opportunities, where there are bidders and a stipulated time of contract execution.

3.    Entrepreneur’s motivation and competence

The third thing to consider when assessing a business opportunity is the entrepreneurs’ or promoter’s motivation and competence. The competence factor is a critical criterion you must scrutinize carefully especially if you are investing in someone else business opportunity. The entrepreneur must be highly motivated, competent and experienced in game of entrepreneurship.

“An average person with average talents and average ambition can outstrip the most brilliant genius in our society; if that person has clear focused goals.” – Mary Kay Ash

Never invest in a startup where the promoting entrepreneur assigns himself huge salary. Never invest in a business venture where the entrepreneur’s primary objective or motivation is just to make money. Making money from a business idea or opportunity is something every entrepreneur loves but my point is; it shouldn’t be a primary motivation.

How to Analyze or Assess Small Business Investment Opportunities

4.    The Business Management team

“Business and investing are team sports.” – Rich Dad

The fourth thing to look out for when analyzing a business investment opportunity is the business management team. If you are the facilitator or originator of the business idea or opportunity, then you can decide or choose the business management team to bring on board. But if you are simply investing in someone else’s idea, then you have to assess the strength and weakness of the business management team.

“We need leaders, who add value to the people and the organization they lead; who work for the benefit of others and not just for their own personal gain. Leaders who inspire and motivate, not intimidate and manipulate; who live with people to know their problems in order to solve them and who follow a moral compass that points in the right directions regardless of the trends.” – Mary Kay Ash

To be on the safe side of any business or investment opportunity, you must think and analyze the business investment like a Venture Capitalist; otherwise called VCs. VCs prefer a strong team and an average product to a weak team and an excellent product. This is the major reason why most brilliant business ideas don’t get funded.

5.   Capital, man power and technological requirements

Another issue you must analyze with respect to a business opportunity is the capital, man power and technological requirements. These three principals are very important especially when you want to assess the risk to reward ratio of a business or investment opportunity. They form the basis of business and investment risk analysis. If the requirement to pursue the business opportunity is extremely high with respect to the profit potential, then it’s not worth pursuing.

6.    Economic Environment

The last on my checklist for analyzing business or investment opportunities is the economic environment where the business opportunity exists or is intended to be pursued. When assessing the economic environment, you must also take into consideration the fiscal or monetary policy of that environment or country, political situation and government’s policy.

“You are a product of your environment. So choose the environment that will best develop you toward your objective. Analyze your life in terms of its environment. Are the things around you helping you towards success? Or are they holding you back? – W. Clement Stone

This is important because some business and investment opportunities are favored by certain economic environments while others are not. For instance, some businesses thrive well in a socialist system of government, while others do well in environments where capitalism is the norm.

As a final note, these are my six checklists for analyzing or assessing a business investment opportunity. Though there are other factors to consider while carrying out a business opportunity analysis, these six checklists will give you a strong insight into any business or investment opportunity.

Project BareFoot: How I Found the Best Business Opportunity to Start

For the past days, I have been critically thinking hard, trying to come up with a good business idea. If you have read my last update on Project BareFoot; then you probably will be aware of the fact that I have came up with a list of business ideas based on my present skills, hobbies and talent. Now for those who are not aware what the Project BareFoot is; I will brief you about it. Project BareFoot is a personal challenge I set for myself to start a business from scratch in a space of nine months and I am currently pursuing the goal.

                “Never invest in a business you can’t understand.” – Warren Buffett

Now like I said earlier, I have made a list of my skills, hobbies and talents; and even went a step further to come up with some business ideas. All this processes was my little attempt to create a business idea; and I succeeded in creating multiple business ideas. But savvy entrepreneurs know that a wonderful business idea does not translate to a wonderful business opportunity; so I know I still have a lot of work to do.

                “A Startup business idea is just another idea. But an idea backed by a strong feasibility study, a thorough business plan and a smart business management team is no longer an idea. It’s now a solid business opportunity worth pursuing.” – Ajaero Tony Martins

After making a list of possible businesses I could start, I went a step further to ascertain their viability. After days and nights of thinking and researching; I have finally found a business opportunity worth pursuing. Now due to legal restrictions, I will not be able to spill the full details of the opportunity but I want you to know that this business idea of mine is a product of a combination of my skills. However, how I came up with this idea is not rocket science; I explained everything in the last update.

As I write this now, I am currently working on my business plan; while trying to figure out how to raise capital for my venture. I will update you on my progress in my forthcoming article.

                Events that have shaped the “Project BareFoot”

One of the reasons I took on this project is to help you practically understand the processes it takes to build a business. I am doing this to proof that building a successful business is not rocket science; it’s just common sense. On the flipside, I want to state categorically that in the process of starting a business; there will always be obstacles because nothing good comes easy.

                “Things never go smoothly.” – Jeff Bezos

I started Project BareFoot with a clear focus and energy; but as I write this, I am struggling to stay focused because I am being hit by unforeseen problems from all angles. Within a space of just a week, my family got into a really deep mess but we remained unshaken. Problems also popped up from my business and to cap it all, I was almost on the verge of losing one of my important business accounts. But thank God it never happened.

I have always been an advocate of the need to have a contingency plan; both in business and life. However, the truth is that you can never be too prepared for most problems because they come when you least expect. But regardless of how tough the situation you are in; I have just one piece of advice for you: “never take your eyes off your goal; never forget the purpose why you took the first step towards that project you are pursuing.”

Web Based Business Ideas

What are the best web based business ideas for 2013? It is no longer news that the world is filled with business opportunities and startup business ideas but unfortunately; not everyone can see such opportunities. In the article, I will be highlighting 20 web based business services I subscribe to and how to start a business around them. If you are ready to learn; then read on.

This article will be revealing a list of web based business ideas and opportunities you can start with little or no money. These web based services are tailored to the needs of internet entrepreneurs. Profit is the purpose of every online business owner and to achieve that, web entrepreneurs are willing to spend their hard earned cash.

Building an online business is quite easy because most of the business process can be outsourced for next to nothing; and this is where you come in. You provide certain services for online businesses and you get paid for it. Of all the service businesses online; the twenty listed below are the hottest service business opportunities on the internet, with respect to demand and profitability.

 What does it take to start a web based services business?

To build a successful business online around service provision; you need nothing but specialized knowledge or skill and thorough understanding of how the internet works. Your overhead can be kept low by operating your business from home. In fact, providing business services on the internet can be started from home with zero capital. All you need is core expertise and you are good to go. You can get such expertise by attending seminars and workshops, reading books and practicing on your own.

Growing an online service business is quite easy because of the ease of referral; and the automation of several processes. Marketing your business expertise online is quite cheap and can even be done for free; if you know how to go about it.

 20 Profitable Web Based Services Business Ideas and Opportunities You can Start with No Money in 2013

1.  Programming Services

With the growing demand for software, applications and plugins; offering programming services is definitely a business to beat because of the steady demand. But a downside to offering programming service is that it requires specialized knowledge that doesn’t come easy. If you are patient enough to learn the ropes of programming; you are sure of a steady supply of contracts. Remember that Larry Page, Bill Gates, Larry Ellison and Mark Zuckerberg started out as programmers.

2.   Web Copywriting

Web copywriting is a service business you can start today and begin to make money because of insufficient copywriters on ground. Affiliate marketers and info product marketers will be your major clients because they are always on the look out for possible ways to increase the clickthrough rate, subscription rate and conversion rate of their websites. If you have a passion for playing with words; then you can start a web based business offering web copywriting services.

3.  Virtual Assistant

The next web based service business opportunity you can start today is to provide virtual assistance to web entrepreneurs. Your duty will be to carry out assigned tasks that your client considers cumbersome or not-too-relevant.

4.   Web Design

Web design is an online service business that has been around for quite long; yet, the market is not saturated. With an ever growing demand for websites, forums and blogs; the momentum for web design services will never die down.

The most exciting fact about offering web design services is that you don’t need to know how to design a website or blog; all you need to do is to master the automated web design software made available online and you are in business.

5.  Blog Installation

Blogging is the latest craze online. Every Dick and Harry now maintains a blog; and a lot more people desire to own one or two but unfortunately, not many people understand the technicality involved with installing a blog and they are not willing to learn it. If you are good at blog installation; then you can offer it as a service and I bet that you will smile to the bank daily.

6.  Search Engine Positioning

The battle to be on the first page of Google is getting hotter by the day. Companies are now paying huge sums of money to search engine positioning experts to help increase their pagerank. Do you know how to get a web page to rank in the top ten search results of Google? If yes, then you have a money minting skill on hand. Aside providing search engine optimization services; you can actually build a successful business around this single service, big time.

20 Profitable Web Based Services Business Ideas and Opportunities You can Start with No Money in 2013

7.  Social Media Consultancy

As the craze for social media content increases; so also does the competition for social media attention by big company increases, thereby increasing the need for social media marketers. Do you know how to make a content go viral on social media? Can you build a strong brand presence on social media? Have you mastered the intricacies of social networking? Then become a social media consultant and you are in for cool cash.

8.  Web Promotion

There are hundreds of millions of websites on the internet; and each of these websites seeks publicity. You can start a business as a web promotion expert and make money online. If you can effectively promote a website without spending much on advertising; you have a good business on hand.

9.  Ebook Cover Design

Ebook publishing is on the rise; so also is the demand for quality eye catching ebook covers or product covers. The good thing about starting an ebook cover design business is that you don’t need to have knowledge of graphic design or Photoshop. The process of creating an ebook cover is now automated with the use of ebook cover design software.

10.  Ghost Writing

One of the most outsourced online business processes is content creation and written content happens to be one of them. In fact, ghost writing as a service business is so broad that you can fill it all. Do you have a passion for writing? Then start a business offering ghost writing services to individuals and companies. You specialize on guest blogging for clients, article writing, ebook writing or freelance writing.

11.  Proofreading

Do you have an eye for spotting grammatical errors? If yes, then you can make money online by offering proofreading services to online publishers.

12.  Internet Press Release Services

The demand for free publicity will always be on the increase as long as there’s competition in business. Imagine getting on the front page or home page of a high traffic media website without spending a dime; that’s the power of press releases. If you are good at writing press releases and also submitting them; then you are in business.

13.   Website Appraisal

Just as businesses are bought and sold offline; so also are websites bought and sold online. You can become a website valuation expert and offer appraisal services to website developers (virtual real estate developers).

14.  Website Critique

Are you good at website optimization? Can you help internet business owners increase their conversion rate simply by overhauling a website? Then you can critique websites for cash. I know several entrepreneurs that have built successful online business by offering landing pages and squeeze page makeovers. You can do the same.

20 Profitable Web Based Services Business Ideas and Opportunities You can Start with No Money in 2013

15.  Blogger to WordPress services

Most blogs are hosted on Google’s free blogging platform Blogger; but bloggers are switching over to WordPress because of its usability and features. The only fear of moving from one blogging platform to another is that you may lose your content and pagerank. Most bloggers don’t want to go through this nightmare, so the reliance on blogger to WordPress service providers. If you can switch from blogger to WordPress and vice versa without a loss of pagerank or content; then you have a profitable business on hand.

16.  Web Development

Web development goes beyond web design; it encompasses website critique, forum installation, ecommerce site development and specialized website building. This is a profitable business opportunity; though it’s capital and time intensive, it’s a guaranteed money maker.

17.  Joint Venture Brokering

You can start a web business around offering joint venture brokerage services. If you have the capacity to link product creators with marketers in any niche; I don’t see anything that stops you from starting a joint venture brokerage business.

18.   Lead Generation Services

Do you know how to generate leads online? Then you can help businesses build their mailing lists. Most internet marketers attest to the fact that the money is in the list and they are willing to do anything to have this list. You can start a lead generation business and charge either per lead or on a bulk basis (per 1,000 lead).

19.  Niche Research services

One of the best web based business services to offer is a niche research service. This is a business that requires you to spot online trends and niches before the rest of the crowd discovers such. It also entails digging deep to discover ignored or overlooked niches. If you are well grounded in online business research; then you can start a business online researching upcoming trends and niches, and selling these business trends to internet entrepreneurs and investors.

20.   Software/Script Installation services

The last web based business service you can offer internet business owners for cash is software/script installation. Most people desire to start a social networking site, forum, ebookstore and so on but they don’t know how to go about it.

Some of these entrepreneurs have even taken a bold step ahead to purchase the necessary software or script needed to power their desired site; but they don’t know how to go about the installation. I have seen several small businesses that charge $97 for installations that don’t take more that 20 minutes to implement. If offering script installation service thrills you; then you can learn the rudiments of script installation.

As a final note, I want it to sink into your skill that you can become a successful entrepreneur simply by taking advantage of any of the web based service business opportunities listed above. All you need is the right knowledge, the right marketing skill and determination. Once these three keys are locked in synergy; the sky will be your starting point.

15 Profitable Business services (B2B) You can Start with No Money

What are the best B2B business ideas for 2013? One of the most important keys to starting a business successfully is capital. However, one of the best low cost; yet profitable business opportunities any entrepreneur can tap into is a service business. Most aspiring entrepreneurs shy away from service businesses; even though it is the easiest to start because it requires specialized knowledge or skill.

In this article, I will be highlighting 15 business to business services you can start right away with little capital. I got the inspiration to write this article by analyzing the business services I have utilized or paid for over the years; I am talking about services you can offer to businesses and entrepreneurs alike. The startup capital of a service business is usually low because of the little overhead required to start.

You can start a service business right from home; with little or no inventory and operational cost. The 15 business services listed below are highly profitable because they increase the bottom line of businesses and entrepreneurs will pay anything just to see an increase in sales and profit. If you are interested in starting a business to business service, then please read on.

 What does it take to start a business to business service?

The answer is not much. You can start with as little as $0 capital and grow with sweat equity. You can start a service business from home as a self employed to keep your expenses low; and run lean until you begin to turn in profits. Then you can consider renting an office space and hiring employees.

The most important thing you need to start a service business is specialized knowledge or skill; because this is what your client will be paying for. So therefore, you must be an expert at something. Being an expert at something or having a specialized skill doesn’t require you be a college graduate.

You can acquire the necessary skills by attending seminars, workshops or apprenticing with an established expert. After honing your skill, you then proceed to gain some real life experience. Aside these, you are good to go with your service business. Having said all this, below are 15 business services you can start with little or no money.

  23 Business services (B2B) You can Start with No Money in 2013

1.   Business consultancy

Are you an experienced entrepreneur or business owner? Do you know what it takes to start a business, build a business, run a business and grow a business? Then you can start a business consultancy outfit. You can help businesses or entrepreneurs get off the ground by offering business advice and guidance. You can also assist employees transit into entrepreneurs.

2.   Small business advisory service

If you are well grounded with the metrics of running a business on a lean budget, raising venture capital and growing a business; then you can become a small business advisor to startup entrepreneurs. How about becoming a small business coach? Don’t fret, small business coaching services is a business that has been in existence for long and those in it are reaping the rewards but it’s never too late to get in.

3.  Feasibility study and research services

You can build a business around conducting feasibility study and research for entrepreneurs. Not every entrepreneur is willing to undergo the stress of conducting a feasibility study on their business idea or opportunity; so they will gladly pay someone to do the dirty work on their behalf.

4.  Business plan writing services

Just like the case of feasibility research; most entrepreneurs avoid the dirty work of writing a business plan. In fact, most entrepreneurs don’t even know how to write a business plan that has the capacity to attract investors and they are not willing to commit time to learn it. If you can satisfy this need; you have a business on hand.

5.  Business opportunity research

I have a couple of friends who started a business opportunity research services and they are doing well in this business. All they do is to keep an eye on forthcoming trends, needs or business opportunities; prepare a plan around it and sell it to major corporations. Sometimes, they come up with product ideas and business ideas with market potential; then they sell such ideas to major corporations to develop. If such activity interests you, then you can start a business opportunity research service business.

6.  Brand consultancy and management

Do you have expertise in branding? Then you can start a business advising small business how to build a brand or increase their brand awareness. You can also offer brand management consultancy services to big firms if you can market yourself to them.

7.  Logo Design

Logo design service demand is on the rise. With small business looking for possible avenues to set themselves apart from competition; having a unique eye catching logo is definite one way to achieve that. Can you design eye catching logos; then get into the logo design service business. You can even partner with a brand consultant or marketing consultant to get more business.

23 Business services (B2B) You can Start with No Money in 2013

8.  Marketing consultancy

Can you show me a cost effective way to increase my customer base by 30% – 70% or more? If yes, then you have a business on hand. You can position yourself as a professional marketing consultant and show small business owners how to attract customers and increase sales for a fee.

9.  Social media consultancy

The world is going social media crazy. Do you know how to generate traffic and improve brand awareness on social networking sites like Facebook, Twitter and LinkedIn? Then you can become a social media consultant and make money for yourself.

10.Employee recruitment services

Human resource management is one of the many business processes that are now being outsourced. Business owners are now concentrating on their core; they don’t want to be bugged down by the process of employee recruitment and staff handling. You can step in and solve this problem by starting your own employee recruitment firm.

11.Bookkeeping services

Are you good with numbers? Is balancing the books something you are passionate about? Are you good at accounting? Then nothing stops you from starting a bookkeeping service business.

12.  Press release writing services

Free publicity is something every business owner desire but unfortunately; only few know how to get it. If you are good at writing press releases that’s sure of getting published, why don’t you charge business owners a fee to help them increase brand awareness via public media.

13.  Startup venture capital brokerage

Raising capital is one of the business challenges entrepreneurs dread most but unfortunately; it’s a nightmare we can’t run away from. If you can position yourself as a middleman or broker; linking up startup entrepreneurs with venture capitalists and angel investors, then you are in business. You make money in this business by charging a percentage of the total money raised by the entrepreneur. Some smart entrepreneurs have even taken this business idea online (CrowdFunding), you can do the same.

14.  Printing services

This business is well known and may look common, but it still remains profitable. You can start a business printing business cards, brochures, flyers, posters and catalogues for small businesses.

15.  Event management

Most small business owners love being part of summits, expos and tradeshows but they just don’t know how to go about it or how to package their product and services at such shows. This need creates a vacuum for smart entrepreneurs who have an eye for business event packaging.

  Other Business to Business Services you can start in 2013

16.  Employee performance evaluation service

17.  Virtual assistant

18.   Copywriting services

19.   Business name registration services

How to Start a Used Bookstore Business from Scratch and Succeed

Are you in search of a good business opportunity to invest your money? Do you want to learn the intricacies of starting and running a used bookstore business? Then read on as I reveal the exact steps to starting a used bookstore business from scratch successfully.

Before I divulge the step by step approach to starting a used bookstore business; I want to make it clear that the principles of building a business remains the same globally and to succeed in business, you must obey its principles.

And one of such principles of starting a business is carrying out a detailed research on your business idea and drawing up a business plan based of your feasibility study. Once these two keys are in place; you have got a head start. The following articles below will provide with the necessary information needed to conduct a feasibility study and write a business plan.

                5 Reasons Why You Must Conduct Feasibility Study before Starting a business

                3 Differences between a Feasibility Study and a Business Plan.

                How to Carryout Feasibility Study on Any Business Idea

                Business Plan Outline: How to Write a Business Plan That Attracts Investors

                A Complete Sample Business Plan Format and Outline You Can Use As a Guide

                How to Start a Used Bookstore Business from Scratch and Succeed

                Why You Should Start a Used Bookstore Business

Operating a used book store is a like owning a recycling center; not too glamorous until you take a look at the owner’s bank account.

This is an ideal “absentee-owner” type of business, or a small investment type business for someone to start part-time while holding down a regular, full time job. The type of person “best-suited” to run a successful used book store, is a man or woman who loves to read, has collected books over the years and enjoys associating with people of similar interests.

Start-up business risks average high, with the average time period needed to become firmly established, about 3 years. After that “becoming established” stage however, you should be able to enjoy ownership of a business without extreme market fluctuations, plus an income close to $50,000 per year or more.

                Market and Location Analysis for a Used Bookstore Business

Ideally, a used bookstore business will need a market population of at least 50,000 persons to support it. Try to locate your used bookstore in a high traffic area, as near as possible to a college or university campus. Something to bear in mind is the shopping habits of the average used book buyer: First, he is a browser. He notices your shop, drops in and begins looking around to see what kind of books you have available. If he spots something that really interests him, he’ll probably buy then and there. If not, he’ll be back-dropping in to browse whenever he’s in the area; provided you made him feel comfortable the first time he was in your bookstore.

Shopping Malls are excellent locations for used bookstores. Location near other or “new” bookstores is also very good because if the buyer doesn’t find what he wants in the “other” bookstores, he’ll check your store. Grocery store shopping centers are generally poor locations for bookstores of any kind.

It’s important that there be a lot of casual strollers in your location area, and that you encourage these people to drop in and browse around.

                How to Promote your Used Bookstore Business

If you want the entire front of your store to be a show window; take pains to arrange your window display in an uncluttered manner, showing the kinds of books you have. However, a window display is not really necessary; more important is a window for the passersby to see into your bookstore.

At any rate, if you do go with a window display, keep it low; never more than 36 inches high leaving a lot of room for people passing to see in your bookstore and notice the people browsing through your books. I know of one successful owner of a used bookstore who had members of his family, relatives and friends, purposely “browsing” through his bookstore, just to project that kind of image for the store.

                How to Brand your Used Bookstore

Once you have your store location selected; paint the entire interior in a dark, warm color, such as mahogany. Install a lighter shade of indoor/outdoor carpet throughout. The lighting should be indirect, and somewhat subdued to give the store a warm feeling.

Locate your checkout counter parallel to one of the side walls. You don’t want it blocking or guarding the easy entry or exit from your bookstore. You want your customers to feel comfortable just visiting your store. In other words, do everything you can to encourage the browser because it’s proven time and time again that the browsers are the book buyers. Allow the people to come and do generally as they please; to pick up thumb through the books that interest them; to read them and “fall in love” with them. These will be your real book buyers.

Your book shelves should run along each side wall and across the back of the store. Don’t build them more than six feet high. Partition these shelves into sections about four feet wide and at the top of each section; place a sign indicating the general subject matter of the books to be found in that section.

Paper the walls of your store, from the top of your book shelves to the ceiling with posters, colorful and descriptive travel posters, broad way show billboards, concert posters and full color dust jackets from books that are perennially popular.

                How to Arrange Books in your Bookstore

The next thing is to build or buy half shelves, tables and revolving racks for more books. The half shelves about 4 feet wide by 4 feet high and similar to book cases in your home; should be located at right angles to your wall shelves, and in the rear of your store. The tables should be about 3 feet wide by 4 feet long, and about 30 inches high. These also should be located at right angles to your wall shelves, but closer to the front of your store. A revolving wire rack, to hold currently popular or specially featured books, and located at the front of your bookstore, will be a special extra merchandising effort that’ll really pay off in sales of your books.

In locating your half shelves and tables down the middle of your bookstore, stagger them; one 3 feet from the wall shelves, the next one 6 feet out, then 4 feet and so on. This will allow people to be “seen” in your bookstore; cut down on the appearance of a formal or military layout, and project a more casual atmosphere for browsing and this is precisely what you want. This kind of arrangement will cost you some space, but it will be worth it with increased traffic.

Another merchandising idea that works very well is a couple of revolving wire racks on wheels. These you push outside and position near the entrance to your bookstore. You can feature popular paperbacks, and a few oversize hard cover books with bright, flashy colors in these racks.

                How to Run a Used Bookstore Successfully

Your store hours should match those of your neighbors. In fact, you can jump off to a quick start by opening a half hour earlier than your neighbors. Use his opening half hour to take care of paperwork and get yourself organized for the day. When the early shoppers see you’re open early, they’ll begin coming into your bookstore to “browse and kill time” while they wait for the other stores to open.

                How to Hire Employees for your Used Bookstore Business

If you cannot be there to “open the store,” then hire part time help. The best arrangement is house wives or college students in 4 hour shifts at the minimum wage. First off, write out a list of duties you want each clerk to perform while he’s on shift. In addition to taking care of sales transactions, you might want him to do some stocking, dusting, cleaning, sorting and pricing.

Regardless, you’ll have fewer problems and enjoy bigger profits if you formally write these shift duties out, post them as job requirements, and explain them when you interview for hired help. Look for, and try to hire only book lovers who are personable, outgoing, and have some sort of business aptitude. You can then train these people in all phases of your operation, with the thought in mind that they will run the store in your absence, and eventually be your store manager. The best way to find such people is by talking with your customers, observing which might be willing to work for you, and which of them might best fulfill your needs.

How to Market your Used Bookstore Business

You’ll need an outside sign for your bookstore; preferably one that hangs right angles to the flow of traffic in front of your store. Many successful used bookstores utilize hand-carved wooden signs, while others display painted signs with calligraphic lettering. By all means, spend the extra hundred dollars or so to have spotlights installed on your bookstore front; focusing on your bookstore signs. Backlit plastic signs just don’t create the comfortable image necessary for the success of a good used bookstore.

                How to Advertise your Used Bookstore

Newspaper or broadcast advertising will be much more expensive than it’s worth. Your best bet is to create a comfortable feeling and open invitation for browsers, price your stock fairly, concentrate on personal service; and let word of mouth advertising and time do the rest.

Even so, you should run an ad in the yellow pages and in the college paper, and from time to time, special sales ads in your local shopping papers. Inexpensive flyers inviting people in to exchange books, or to just browse, can be printed at your local quick print shop and handed out or placed under the windshields of cars in the larger shopping center parking lots. Advertising and special sales during holiday periods such as Christmas, Mother’s Day and Father’s Day are generally quite effective in bringing new customers into your store.

                More Tips for Successfully Starting a Used Bookstore

How to find used books for your bookstore

Most used book store entrepreneurs use their own book collections as start-up inventory base. In addition, talk to as many neighbors, friends and relatives as possible for the donation of books. Then start making the rounds of all the garage sales and flea markets. You should have at least 10,000 books in stock when you open for business and that’s a lot of books. Search for books to sell; those you can buy for 25 cents or less in all thrift shops, Goodwill stores and Salvation Army outlets. Church bazaars and estate sales also sometimes provide you with almost “complete” libraries.

You might place a small ad in your newspaper announcing that you’re looking for good used books to buy. Generally, you evaluate a book according to the price you think you can get it for in your store. Then you subtract two thirds of that total and offer that as your buying price. Always separate the books you feel certain you can sell from those you aren’t sure about.

It’s going to take awhile for you to become proficient as a book buyer but with practice and some experience, you’ll quickly develop the intuition you need to realize a profit on every book you buy. Always flip through the pages of each individual book and be sure of its condition before you quote a price. In many instances you’ll also find that out of a box of 25 books, you’re only interested in buying 10. The seller will generally want to get rid of his books now and for a couple of dollars more than your bid price on the 10 books you want, he will let you have all 25 of them. This is like a windfall to you because you can always use the unwanted books as leader items or extras to generate traffic during two-for-one sales; all books on a certain table for just a nickel each; or your choice of free books for everyone coming in to browse on certain days.

You should carry hardcover as well as paperback books. Pay no more than 25% of new price for a mint condition hardcover book and buy only those you are certain can be sold in your store. Pay no more than 10% of the new price for a mint condition used paperback and steer clear of the hard-core sexually oriented books.

Visit the libraries and book stores in your area. Observe what people are interested in reading and what they’re checking out or buying. Stock your store with these kinds of books. Below is a listing of the kinds or types of books you should consider stocking in your used books store:

                Types of Books you should stock in your Used Bookstore

Business books:                                These should include books on leadership, marketing, entrepreneurship, career advancement, time management and people management.

How-to-Books:                 These should include all the self-help and self improvement manuals you can find; mail order, auto repair, carpentry, business opportunities, metalwork, home building, gardening, and small business startup.

Cook Books:                       You’ll probably be surprised at how many people buy books relating to the culinary arts. A well stocked cookbook section will mean definite profits for you. Forget about books on dieting, home economics, and etiquette; these just don’t do well in used book stores.

Special interest books:                  Watch and listen to the people of your area. Be on the lookout for people into World War, history, aviation, sports perfection, movies and just plain old book collectors.

Paperbacks:                       Women’s romance, science fiction, mysteries, and historical novels are all good movers currently enjoying an upsurge in popularity and sales. These will be the “best movers” in your inventory, so develop good sources of supply, and price them for fast sales.

Building and maintaining your inventory, while continuing to rapidly turn that inventory over, can be handled in a number of different ways. It’s not a good idea for you to exchange two or three of your customer’s books for one of yours. There’s always a variance in price, plus you may not want the type of books your customer is offering to trade.

The most feasible plan seems to be to give the customer a credit line for each book you buy from him. Simply have a supply of business cards promoting your store, printed at your local quick print shop. On the back of the card, have them print something along these lines:

“The bearer of this card is entitled to _______________ cents credit on 50% of the listed price of any book at Ye Olden Book Store/s/ Your Signature.“

Then when someone brings in a couple of books to sell, you pay him in credit, marking in the amount and signing your name on the card. An easier way might be to have your signature printed on the cards when you order them; you or your clerk would simply fill in the credit amount, and emboss the card with a notary-type embosser.

Usually, you allow 20 to 25 cents for mint condition paperbacks and about one quarter of your selling price for hardbacks. Always make sure the customer understands that regardless of how many ”credit chits” he has, the credit chits can only pay for half the purchase price. This of course, is to protect your cash-flow from running out.

Many used book stores add to their income potential by adding tape cassette lending libraries. These are real money makers with a kind of service tat lends out “books on tape” and special learning programs where portion of the rental fee applies to the purchase of the original tape cassette.

Many great used bookstores add to their income by running mail order book selling operations in addition to the retail business. This is natural, either for a retail operator wanting to expand his market or a mail order operator wanting to increase his income.

                Startup Investment for starting a used bookstore business

1,000 to 1,500 square foot bookstore

Rent (1st and last month’s)                          $1,000 – $2,000

Utility and deposits………….                        $50 – $300

Insurance (1st Quarter Payment)…….    $100 – $200

Licenses and permits……………….            $50 – $250

Inventory……………………….                       $2,500 – $5,000

Shelving and remodeling…………….         $2,000 – $5,000

Misc (Decorating, checkout counter, cash register, supplies……..$1,000 – $1,500

Legal and Accounting……………….            $600 – $1,200

Advertising and signs……………….            $1,000 – $3,500

TOTAL…………………………..                        $8,250 – $18,950

OPERATING CAPITAL………………..           $5,000 – $12,000

Entrepreneur should have enough operating capital in reserve to not only keep the store operating for the first year, without counting on anticipated profit but also enough for unseen emergencies without having to count upon income from the store to see him through.

                Monthly Operating Costs for a Used Bookstore

Payroll………………………..            $1,500 – $2,500

Owner/manager salary……….    $1,000 – $2,000

Rent/lease……………………..       $ 600 – $1,000

Advertising……………………         $ 500 to $ 1,000

Depreciation……………………      $ 100 – $150

Utilities and phone……………….                $ 150 – $300

Printing and stationery………….$ 100 – $200

Shipping costs………………….      $ 100 – $150

Insurance………………………        $50 – $100

Maintenance…………………….    $50 – $100

Miscellaneous…………………..    $100 – $150

Total Operating Costs………………………….$4,200 – $7,650

ANTICIPATED SALES……………….$5,000 – $8,500

NET PROFIT BEFORE TAXES………….$800 – $850

PROFORMA ANNUAL INCOME (B/T)…….$9,600 – $30,000

A word of caution: Though you must project an open, comfortable invitation to browsers and would-be book buyers, you must also inconspicuously guard against shoplifters and outright thieves. The best is to place mirrors strategically throughout the store so you can see your customers from the checkout desk at all times.

Smaller and more expensive books should be kept up front so that you can see them and what your customers are doing with them, without seeming to be guarding them. There are a number of theft prevention gadgets and devices available but even more important is alert hired help that can keep an eye on the customers without making them feel they’re being watched.

The risks of starting a used book store are high for the dreamer unaware that it’s just another retail business and should be handled as such. Well organized and intelligently-operated used book stores are very stable and they provide a very comfortable income for the owner-operator willing to persist through the start-up period.

This can be the kind of business you’ve always dreamed of owning but you’ll have to have the patience to let it grow and the perseverance to see it through to its ultimate success. With these thoughts in mind, the sky will be your starting point.

The Best Business Opportunity with High Return on Investment

What are the best business opportunities in 2013 with the highest return on investment? Which business opportunity has the potential for rapid growth? Which business opportunity has the potential to help me become a billionaire like Bill Gates, Larry Ellison or Warren Buffett? If any of these questions best describe your thoughts, then please read on.

Most aspiring entrepreneurs are usually confused when it comes to starting a business because they can’t figure out the best business opportunity to invest in. Just recently, I got an email from a reader on this business blog and this was the reader’s message.

“Respected Sir, how are you? This is (name withheld) from London, United Kingdom. Now I am doing MBA and ACA as well. Sir, I am very interested in business but I am very confused about the field. Which field is more suitable for business, for growth? Would you like to suggest me something? Thanking you.”

I receive such emails on a daily basis so I decided to do a piece in reply to this email. What’s the best business opportunity with the highest returns on investment? Well, you are going to find out soon.

In this article, I am going to explain in detail the best business opportunity and how to find such opportunities. If you are an aspiring entrepreneur or an employee with a strong desire to start a business? If you are looking for a business opportunity that will help you make a million dollars or become a millionaire, then please read on because this article is for you.

  What are the best business opportunities with the highest returns on investment?

Well, before I reveal to you the best business opportunity of the moment; I want you to take a careful look at the list below.

1.            1900 – Andrew Carnegie made his money from steel – $475 million

2.            1910 – John D. Rockefeller became a billionaire in oil – $1.4 billion

3.            1920 – Henry Ford became a billionaire in the auto industry – $1 billion

4.            1940 – Howard Hughes became a billionaire with military aircrafts, contract, tools and movies – $1.5billion

5.            1957 – J. Paul Getty became a billionaire in oil – $1 billion

6.            1962 – Henry Ross Perot became a billionaire with EDS – $3.8 billion

7.            1970 – Sam Walton took retailing giant Wal-Mart public and became a billionaire – $22 billion

8.            1980 – Ron Perelman made fortune as a Wall Street deal maker – $3.8 billion

9.            1990 – Jerry Yang founded Yahoo! – $3.7 billion

10.          2008 – Aliko Dangote became the richest black man in the world as a manufacturer – $3.3 billion

11.          2010 – Mark Zuckerberg became a billionaire with FaceBook.com – $6 billion

Some of the successful entrepreneurs mentioned in the list above were school drop out billionaires. Is this list exhausted, my answer is no. Oprah Winfrey became the richest black woman in the world with television show productions. J, K. Rowling joined the billionaires list with her book “Harry Potter Series.”

Debbi Field’s became a multi millionaire selling cookies; and Mary Kay Ash became a billionaire with her company “Mary Kay Cosmetics. Rupert Murdoch and Ted Turner became billionaires by running their own cable network channel company; “Fox Broadcasting Corporation” and “CNN” respectively. I will advice you read the article below to further understand the point I am trying to buttress.

Now what’s the best business opportunity? My answer to the question above is this: “The best business opportunity with the highest returns on investment does not exist.” Are you surprised? Please don’t be. I know you might be expecting me to make a list of businesses ranging from oil and gas to web based businesses. I am sorry to disappoint you because there is no stipulated best business opportunity with respect to the illustrations I cited above.

However, there’s a contradictory twist to my answer. I believe the best business opportunity exists but you have to create it or make it a reality yourself. Now what am I trying to stress? The point I am trying to stress is that becoming a successful entrepreneur does not depend on the business opportunity; it depends on you. So if you successfully go through the entrepreneurial process, you will find your own best business opportunity.

  How do you Find or Choose the Best Business Opportunity

Well, instead of telling you to start an oil and gas supply business or an internet business; I am going to reveal to you five criterions to creating your own best business opportunity. If you are still willing to learn, then below are five criterions to choosing, creating or finding your own best business opportunity.

1.   Your Entrepreneurial Mindset

The first key to successfully creating or finding the best business opportunity is you because building a successful business starts with you, the entrepreneur. Are you in the right mindset? Do you have what it takes to build a successful business?

I listed the entrepreneurial mindset here because it the fundamental key to starting, building and growing a business. The state of your mindset will determine how far you will go in the entrepreneurial process of building a business. Choosing the best business opportunity begins with you answering the following personal questions.

                What is your risk bearing capacity?

                Are you prepared to face business challenges?

                Are you prepared to handle business failures?

                What’s you perception towards making mistakes in business and life?

These are the type of questions you need to ask yourself before starting a business because these questions will reveal your mental preparedness for the entrepreneurial journey at hand. I definitely can’t explain in details how to develop your entrepreneurial mindset but I believe the following articles will help.

2.   Your Startup Capital

The startup capital you have access to, is another factor that will determine the best business opportunity for you. The best business opportunity for an entrepreneur with access to a $1,000 business startup capital will be quite different from that of an entrepreneur with a million dollars in startup capital.

The entrepreneur with a $1,000 startup capital may consider starting a blog while the entrepreneur with the million dollar capital will feel that starting an oil and gas distribution business or a manufacturing firm will be the best bet. So take note that your startup capital is a predominant factor when seeking the best business opportunity.

3.  Your Business Team

The competence of the business management team you have on board will determine the best business opportunity to pursue. If your business team has a track record of successes; then raising capital to pursue big projects will be a piece of cake. But if you are a solo entrepreneur, then your best business opportunity will be quite different.

4.   Your Business Plan

If you have the right plan, coupled with the right team and the right mindset; then you can pursue mega projects. But an entrepreneur who lacks the orientation of the use of a business plan will just bootstrapped his or her business on a shoestring budget. The extensiveness of both your personal and business plan will determine the kind of business opportunity you will pursue.

5.   Your Business Idea

Lastly, the best business opportunity varies from entrepreneur to entrepreneur based on the ideology of the entrepreneur and the prevailing circumstances. Your best business opportunity may differ from mine based on prevailing circumstances such as trend, your passion, hobby, skill, geographical terrain, demographics, psychographics, demand, supply, economic policy, etc.

The best business opportunity for someone in Nigeria or China will differ from that of someone in United States, Canada or India. And most importantly, I listed the “startup business ideas” last because it is the least important necessity to starting a business. Remember, the world is filled with brilliant, million dollar ideas but the world lack savvy entrepreneurs.

An average business idea with the right mindset, a strong business management team and the right business plan will outperform an excellent million dollar idea with a poor mindset and a weak management team. So when analyzing a business opportunity, make sure you do your preliminary feasibility study. Also make sure that the right combinations are in place and when contemplating on the best business opportunity to take advantage of; take into consideration these five criterion and I will see you at the top.

Business Opportunities in Nigeria

What are the best investment opportunities in Nigeria? Are you in search for small business ideas in Nigeria? Then read on as i share with you a detailed list of 15 fastest growing small business opportunities in Nigeria for 2013.

For quite sometime now, my email box has been filled with request from fellow Nigerian entrepreneurs asking for the fastest growing business opportunities in Nigeria which they can invest in. Before I proceed with any detailed explanation, I want to state clearly that there are untapped small scale business opportunities in every industry both in Nigeria and all over the world; you just need to dig deeper to find such niches.

Now for those landing on this blog for the first time, i think it is important i introduce myself briefly. Business Opportunities in NigeriaI am Ajaero Tony Martins (+2348022628615); an entrepreneur and investor, with a passion to share my knowledge and also learn from others. I own the biggest business blog in Nigeria and probably the fastest growing entrepreneurship blog in the world.

While there are untapped business opportunities in every industry, this article will be pointing out the fastest growing business opportunities in Nigeria. If you are non-Nigerian or you’re a Nigerian in Diaspora wishing to start a business in Nigeria; then you will find this list of fastest growing business opportunities in Nigeria very useful.

A lot of things have been said about my country Nigeria and her harsh business terrain. If you are a non-Nigerian entrepreneur or a Nigerian in Diaspora; then this is my take about starting or doing business in Nigeria. If you are an experienced serial entrepreneur or an entrepreneur with guts; then you should know that one of the best places to invest your money and build a business is in a developing terrain.

Nigeria is a developing country and one of the best places to invest or build a business is in a developing environment. Though the risk is high, so also is the reward. Like I said; if you are an entrepreneur with guts to take on business challenges like Richard Branson; then this article is for you.

If you are hungry for entrepreneurial ideas and information; then sit back, grab a cup of coffee and read on as I present with you a detailed list of 15 fastest growing small business ideas and opportunities in Nigeria.

    15 Fastest Growing Small Business Opportunities in Nigeria for 2013

Before I begin listing the fastest growing business opportunities in Nigeria; let me tell you how I came about this list.

Sometime ago, I handed out a task to some members of my strategic business team and that task was to research and get a detailed report on the fastest growing business opportunities in Nigeria with moderate risk and strong profit potential within a defined time frame. After several weeks of painstaking research, my business team reported back to me with an in-depth list of 500 Hottest Business Opportunities in Nigeria for 2013.

Well; if you must know why I mandated such task to be carried out, then I am going to spill it. As at the time of this writing, I am currently developing a strategic diversification plan with my business team and we are looking at the various options of business opportunities available.

So while I am not going to tell you the specific industry i will be breaking into; I am going to share with you a short extract from my list of 15+ fastest growing business opportunities in Nigeria, as researched by my team.

What if You Don’t Have the Money or Capital to Start a Business?

Now i know Nigerians are enterprising and industrious, but the inability to access the necessary funds or capital is what is holding back most Nigerians. The Federal Government went a step ahead to initiate a programme called “YouWin” and to be sincere, i really laud this proactive measure.

But the problem is that YouWin can’t finance everybody’s business; you must learn to raise money on your own without going to the bank. So in response to this, i wrote an article that reveals 100 Alternative Ways to Finance a Business Without Going to the Bank.

So without wasting your time, below is a brief extract of the fastest growing small business opportunities in Nigeria.

    15 Fastest Growing Small Business Opportunities in Nigeria for 2013

Agricultural Sector

1.            Catfish and Poultry Farming

The first of the fastest growing business opportunities in Nigeria is catfish farming. The primary reason I listed catfish farming as one of the fastest business opportunities in Nigeria is because it’s an emerging industry that hasn’t reached its peak or full potential. The major players in this business are usually regional players. What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.

So all you need to do is look for a region with a growing demand that haven’t been covered by a major player and situate your business there. As for poultry farming, the ban imposed by the federal government of Nigeria with respect to the importation of live or frozen poultry birds has only helped explode the demand. Snail farming is also another under-exploited money maker.

When accessing any of these business opportunities listed above, you must note three important facts. One, food is one of the basic necessities of man, thus making catfish, snail and poultry farming a huge potential. Two is that the population in Nigeria is estimated to be over 150 million and growing so that entails a growing demand for food. Three is that even if the local market with 150 million Nigerians gets saturated (which I strongly doubt as this niche is still in its adolescent phase), there’s still a growing demand for catfish all over the world. So do your own in-depth analysis and put your money to work.

However, you are free to use our own analysis and research on How to Start a Poultry Farm.

Textiles Sector

2.            Importation of wears

Importation of clothes (designer wears) into Nigeria is another fast growing business opportunity you can tap into but I must warn you; you will be breaking the law if you engage in this business because there’s a ban by the federal government on the importation of wears. I listed this business opportunity for those who have the entrepreneurial guts to take calculated risk.

Update: The ban on importation has been lifted by the federal government of Nigeria.

Another reason I listed the importation of wears as one of the fastest growing business opportunities in Nigeria is because the ban cut short its supply thereby leaving a gap of demand that can only be filled by brave entrepreneurs. Please don’t assume I am trying to hype you or something; I am a player in this line majoring mainly in men designer wears which is imported from China and India. I source corporate wears from Hong Kong because of the quality of their finished product. Enough said.

3.            Sewing of specialized uniforms

If you don’t have the entrepreneurial guts to go into the importation of wears; then you can set up a small scale textile firm that will specialize in sewing uniforms. The demand for uniforms is on the increase in Nigeria; from the crèche to the labor market, uniforms are highly in demand but it’s advisable you do your own detailed research before venturing into the business.

Transportation Sector

4.            Inland water way transport

Inland water way transport is one of the fastest growing business opportunities in Nigeria. In fact, I believe the niche is still untapped because I am yet to see a modern commercial boat or ferry service system in Nigeria. Though there are a few operators in this industry; I am yet to see the modern facilities being used by the developed countries.

Another reason inland water way transport business proves viable is because population in states such as Lagos, Ogun state and Rivers is rapidly on the rise thereby resulting in the congestion of roads. Since the roads are becoming heavily congested; the next means of transportation the inhabitants of these heavily populated states will resort to is water transport. With proper planning, a good management team and adequate funding, you can break into this untapped industry and carve a niche for your business.

5.            Haulage and logistics

Haulage and logistics is another fastest growing business opportunity in Nigeria. Though it’s considered a risky business; you can breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics.

6.            Outsourced bus service

This is similar to haulage and logistics but the cargo in this case is humans. I am not talking about the regular road transport bus service; in fact, I don’t think I have seen the idea for this business been utilized by anyone.

Now in this case, you are providing transportation services to firms and corporate entities. Some corporate organizations can’t afford an in-house transport system for its executives and staff, so this is where you come in. You provide the cars or buses, provide the drivers and you are paid on a monthly bases or contract bases for the use of your transport services.

Another area of target is schools. Most schools would like to provide transport facilities for their students but they can’t afford it and this is where you come in. You provide a bus service system and send out a proposal to schools to use your bus services. Just imagine 20 or more young schools jointly using your student bus service system and you will catch the vision of this idea.

Information and Communication Technology

When it comes to ICT, I will say Nigeria is lagging behind when compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news. ICT is still an emerging trend that hasn’t reached its peak so a lot of opportunities exist for both local and foreign investors. I won’t go into the capital intensive business opportunities that exist in the ICT sector; rather, I will stick with small and medium scale business opportunities.

7.            Cyber Café

The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still on the high side when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs. This business can be started either on a small, medium or large scale but I will prefer a large scale because size can be a competitive edge for you in this business as customers won’t like to be kept waiting.

Customers of this industry want speed and efficient service and most importantly; they want to be sure to find a vacant computer system anytime they want to surf the web without having to wait in line. If you can get a good location; provide speedy internet access and provide complementary services; you are in for a breakthrough.

8.            E-Services

Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that hasn’t fully been tapped. Under the umbrella of providing e-services; you can find the following fast growing business opportunities: E-payment, bulk Sms services, web design and hosting, database management services, e-portal management, etc.

    15 Fastest Growing Small Business Ideas in Nigeria for 2013

Education

The need for education is on the increase and the burden to provide quality education is getting heavier for the government to bear thereby, leaving room for private and institutional investors. The following are ways you can tap into the potential opportunity.

9.            Schools

A lot of institutional and private investors have gone into building quality schools and providing quality education but the potential has not been reached. With a population of over 150 million Nigerians, where 65% are below 40; there’s still untapped potential in this niche.

You can access this business opportunity from different entry levels. You can tap into this niche by providing either crèche, primary, secondary or tertiary education but all entry levels holds strong potential. Please carry out your own analysis before investing in any level of this business opportunity.

10.          Seminars

Not everyone loves being educated within four walls of school. Some prefer street smart education or high speed learning and that’s where you come in. You can set up a seminar company that organizes coaching services according to the current needs and trends of the society.

11.          Training centers

Specialized training or educational centers is another fast growing yet untapped business opportunity in Nigeria. Examples of specialized learning centers are Leadership training schools, entrepreneurial centers, training centre for the gifted and physically challenged, training centre for hobbies and crafts, etc.

12.          Tutorial centers

With the proliferation of academic and professional exams, tutorial centers have joined the list of fastest growing business opportunities in Nigeria. You can access this business opportunity by choosing or specializing on a training need. You can focus your proposed tutorial centre on any of the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview training, etc.

         15 Fastest Growing Small Business Opportunities in Nigeria for 2013

Green Energy and Technology

With a global increase in the awareness of environmental degradation and its hazard, the world has resorted to finding an alternative “green energy.” Nigeria is not left out in this global awareness that has created massive opportunities for smart entrepreneurs and investors. If you feel green is the next business trend on board, then below are the fastest growing business opportunities in the green energy and technology sector of Nigeria.

13.          Waste management

With an increased awareness in the need for environmental conservation; opportunity has popped up in Nigeria in the area of waste management. When analyzing the waste management business opportunity, I observed that two factors are responsible for the potential in the business and you must make sure these two factors are in place before deciding on an area of service.

One is a bursting population and the second is a strong environmental policy and its enforcement. So far, two states in Nigeria that has taken the lead with respect to these two factors and these states are Lagos and Imo state. But I believe great potential still lie in other states of Nigeria. Do your own personal research before venturing into this industry.

14.          Waste recycling

The next fastest growing business, yet untapped business opportunity in Nigeria is waste recycling. I don’t need to expatiate on this as the details are clear. You can venture into either bottle and can recycling or nylon recycling. You can even embark on a waste to green (manure) project as Nigeria has a huge demand for organic and inorganic fertilizer.

15.          Alternative power

The last but not the least of the fastest growing business opportunities in Nigeria is alternative power supply. In recent times; Nigeria has seen an explosive increase in the demand of power supply thus creating an avenue for smart entrepreneurs to capitalize on. Solar energy, Wind energy and bio energy are some of the alternative power supply system that are currently making waves in the country but the present alternative power supply service providers cannot meet up the demand thereby leaving room for other creative investors. With a good plan, adequate capital and a strong business team; you can break into this niche.

As a final note, I want you to know that of the numerous small business ideas, opportunities and potentials available in my country Nigeria, I believe the ones listed above are potential money makers but I emphasize you do your own feasibility study before investing a dime in any of these business opportunities.

  More Business Opportunities and Small Business Ideas in Nigeria for 2013

Business Franchise Opportunities: 19 Questions to Answer before Buying a Franchise

In recent times, franchise businesses such as Wendy's, Pizza Hut, Burger King and McDonald's are booming. The entrepreneurs setting up franchise ideas and businesses have really discovered a gold mine and they are really promoting the idea vigorously.

Now buying a franchise is buying a business, so capital is going to be involved. Buying a business franchise is a good alternative to building a business from scratch. Buying a business franchise can give you a degree of security, and in some cases, sure-fire profits. Business analysis surveys show that less than 20 percent of all franchised businesses fail. This is in contrast with a 60 to 80 percent failure rate for all new businesses started each year.

In this article, I want to take you through a checklist of questions you must answer before buying a business franchise; so that you won't bite your finger in regret after buying a business franchise.

Some business franchises are very good. They treat both the franchisor and the franchisee well. Others are one sided. But most of them are total rip offs because they make you pay ten to fifty times the actual value of the business idea, equipment, or whatever it is they are trying to get you to buy.

Before buying a business franchise, you should examine everything carefully; from the documents and paper work to the product. In fact, scrutinize everything. To help you out, I have prepared a list of questions you should ask and answer satisfactorily before buying a business franchise.

Nevertheless, Information regarding specific business franchising opportunities and ideas can be found in the franchising directories, which are generally available at the local library. Often there will be a notice posted in franchise outlets themselves.

You can also purchase business books and guides that will help and give you more insight in buying and building a successful business franchise. Without wasting your time, below are 19 critical questions you must answer before buying a business franchise.

                Business Franchise Opportunities: 19 Critical Questions to Answer before Buying a Franchise

 

1.            Has your attorney examined the business franchise contract, discussed it with you, and do you both approve it without any hesitation?

2.            Does the business franchise require you to do anything or take any step that is illegal, questionable or risky in your city, state or country?

3.            Does the business franchise give you an undivided territory for the duration of the franchise period, or can the franchisor sell a second franchise in your territory?

4              Is your business franchisor linked in any way with any other franchise company operating related products or services?

5.            If your answer to the above question is yes, what is your guard against the second franchising company?

6.            Under what conditions can you end the franchise contract, and at what cost will it be to you?

7.            If you sell your business franchise, will you be compensated for your helpfulness or will it be a loss to you?

8.            How many years has the company offering you the business franchise been in operation?

9.            Does the company offering you this business franchise have a status for honesty and fair dealing among its franchisees?

10.          Has the business franchisor shown any confirmed figures indicating exact profit of one or more of its members, and have you personally checked the figures with these franchisees?

                Business Franchise Opportunities: 19 Critical Questions to Answer before Buying a Franchise

 

11.          Will the franchisor provide you with a business management training program, an employee training program, public relations and advertising program, credit facilities and merchandising ideas?

12.          If needed, will the franchisor help you in finding a fitting business location?

13.          Is the franchising company strongly financed so that it can carry out its stipulated plans?

14.          Does the franchisor have an experienced business management team?

15.          What can the franchisor do for you that you cannot do for yourself?

16.          Has the franchisor scrutinized you carefully enough to be certain that you can successfully operate a business and generate profit for both of you?

17.          Does your state have a law regulating the sale of business franchises?

18.          If yes, has the franchisor complied with that law to your satisfaction?

19.          How much equity capital will you need to purchase the business franchise and operate it until your income equals your expenses?

If you can answer these questions satisfactorily, then you are on your way to buying a good business franchise. But if you are in doubt with any of these points, be sure to check it out and know the answers before you invest or sign anything.

If you can afford the capital involved in buying a business franchise, statistics are on your side. You are now armed with some CAUTION, STOP and GO signs!