Enugu state is home to superb cities like Nsukka, Enugu, Agwu, and Agbani among others. The state is one of the industrious states in Nigeria’s southeast geopolitical zone in Nigeria.
This article covers 20 lucrative business ideas in Enugu state for investors who are looking for investment opportunities in the state.
Palm Oil Production
Palm oil production is one of the businesses that is peculiar to the eastern part of Nigeria. If you don’t have the capital to start palm oil production, another way you can come in is by palm oil distribution.
What the distribution means is that you liaise with a palm oil production factory, and buy in small or large quantities, depending on your financial strength.
With NGN300, 000 capital, you can start palm oil distribution. Buy and keep during raining season and sell during the off-season.
Note: Learn the tricks involved in the palm oil business like the storage methods before venturing into it. You could incur losses if you failed to follow the storage procedures.
Enugu State is blessed with arable land suitable for the cultivation of many types of crops. You can focus on farm produce like yam, garri among others.
The local food industry in Enugu State is another lucrative business idea. There are already restaurants in different parts of the state.
Nevertheless, the interesting thing is that there is room for everyone interested to thrive, as long as they can be very exceptional in the conduct of the business. Therefore, ensure you have a clean restaurant with different meals that is of high quality.
Sales of Farm produce
There are various ways to become an active stakeholder in agriculture. You can be part of the system without having to be a farmer or owning a farm at all.
How? Simply by going into the business of selling farm produce. This involves buying directly from farmers
Your job is to ensure consumers easily get the farm produce, and you would make your money. Establish direct links with farmers you can be buying fresh foods directly from their farms once they are harvested, and sell them for good profits to consumers in the city.
The market is there already in the state, and you must ensure you are well equipped with appropriate knowledge if you want to find success in second-hand products like refrigerators, washing machines, shoes, clothes and bags can easily fly.
There are certain businesses that revolve around expertise in certain sets of skills. One of such is electronic repairs.
If you already have a good understanding of how to repair electronics, you can go ahead to set up an electronic repair shop in Enugu State.
It is important to ensure your store is located in a visible place, and you can even take advantage of the strength of social media to pull in more customers from different parts of the state.
If you sell lovely brand new clothes that are still affordable, they will patronize you. It will be easy for them to even help recommend your boutique to their friends too.
You don’t have to limit yourself to just clothes alone. You can sell good shoes too, as well as stuff like belts and ties
If you don’t have to wait for a huge capital to start a fashion designing business. If you have the necessary equipment, you are good to go.
To start on a large scale, if you have the capital, purchase sewing machines and other equipment, rent a shop and leverage social media to attract customers by running discounts.
Another method to make money from fashion designing is by setting up a fashion design institute (school) to train youngsters who are interested in learning a skill.
Though capital intensive, selling electronics is very profitable. Don’t forget that numerous people today are greatly interested in different types of gadgets. You can run this business in a busy commercial hub in the state capital.
There are tons of vehicles being driven in Enugu State, and many of them develop different faults every now and then. Thus, the services of good mechanics are always needed and important.
If you want to run and operate this all by yourself from the scratch, it is expedient that you have the necessary skills first.
If you have big money to splash on this venture, you can actually decide to get a large space and put in place a structure where you just have to be the one managing the place, while others are working for you.
With a large area, you can put in place adequate security measures that guarantee the security of the vehicles.
Recharge Card Business
Despite the online recharge on banking apps, recharge card business is still a lucrative business.
Many people recharge their phones, buy data for business purposes or pleasure. Many others recharge their phones so they can always make business calls or hear from their loved ones.
This is a good business idea, and you can operate here in line with your capital. You can start small and expand, or go big (by manufacturing the cards yourself) with huge capital.
You can run a mini supermarket that attends to the needs of the people. Your customers could come around to buy products to attend to their immediate needs.
The fact that it is a mini supermarket means that you can control the resources you are appropriating as your capital. If you want to start small, you can start by getting products in small pieces. As you grow, you can utilize your profit for expansion.
It is recommended that before you start a bakery business, you should take time to learn from some people with experience. As you know more about its unique operations, you will be able to draw your own business plan that can guide you towards success in the business.
It is necessary to add that if you want to stand out, then you should ensure that you put a lot of effort into your bakery products. Make quality and sweet things, and customers would willingly patronize you.
Haulage business is capital intensive and profitable. You can liaise with manufacturing companies to move their goods to their destination points across the country.
Dry Cleaning Business
A lot of folks don’t like washing their clothes, and many don’t even have much time. Since only a few people are able to get a washing machine, the call point is usually operators of dry cleaning services.
If you have sufficient resources, you can decide to go big with this business. Get a large space with several equipment and workers, and you can expect good profit with a nice structure in place.
Car Wash Business
You can also consider running a business that revolves around washing vehicles for profit. There are different reasons why vehicle owners don’t have time to wash their vehicles themselves, smart investors can take advantage of this opportunity.
You can also run an internet-based business in Enugu State. You must have adequate technical skills though.
E-commerce, according to The Future of Customer Engagement and Experience, involves buying and selling of products or goods on the internet and the transfer of money and data to complete the sales.
Security is not good enough in different parts of Enugu State. There are cases of car thefts and mischievous thieves breaking into the houses of unsuspecting victims. The Nigerian government has failed woefully, as such wealthy individuals are ready to pay millions to secure their property.
Even businesses are eager to have their premises secured. You have to ensure you obtain the necessary approvals from relevant authorities.
You can decide to focus on offering security at events. You can also sell security equipment like CCTV cameras and the rest.
Sales of Building Materials
There is rapid development going on in different parts of the state. Different types of structures are being erected to suit different needs.
There are continuous constructions of residential buildings and offices. You can jump into this industry as you position yourself to run a business that revolves around the sales of building materials.
In recent times, real estate companies like PWAN and others are growing penetrating the real estate sector in Enugu State.
If you check some global millionaires, you discover real estate played a big role in making them very rich.
One of the investments that doesn’t depreciate is real estate investing. Real estate investing continues to grow in Enugu and its environs. You will be amazed at the return on investment a good venture will fetch you.
Caution: Be wary of fraudulent land owners and fake documents.
Challenges of Doing Business in Enugu State
Are there challenges in doing business in Enugu State? Of course yes! Prominent challenges include:
- Absence of adequate infrastructure
- Poor Power Supply
- Bad Security
- Absence of adequate Governmental Support
- Poor road network in the rural areas
Despite these challenges, you don’t have to be discouraged, since there are already many people running different successful businesses in Enugu State for many years.
You can put your hands on any of the business opportunities highlighted in this article, and conduct due diligence before jumping right in.
- Enugu State Government