I will be discussing the top 5 businesses to start that make 1 million Naira monthly in this article.
Do you want to be your own boss by starting a small business that can earn you six figures income monthly? If you’re nodding your head right now, just know that this article is for you.
Gone are those days that I was in your shoe finding some business to start after graduating from university. It was not that tough. I am going to show you some business ideas that I tried which gave me the most shocking monthly income.
Let’s dive in.
- Fitness and wellness center
- Mobile car wash and detailing services
- Printing and branding services
- Fishery business
- Bakery business
- Let’s pick these to pieces.
Fitness and wellness center
If you’re looking for a highly profitable business idea that can generate at least a million naira monthly, consider establishing a fitness and wellness center in your area.
Fitness center which is popularly known as gym center in Nigeria today is a very lucrative business that can earn you passive income monthly.
To start a fitness business is simple and straightforward. To get started, you need to register your business name with the Corporate Affairs Commission (CAC) this will cost you nothing less than 80,000 naira.
After purchasing your CAC, take the bold courage to buy or lease an open apartment for your gym business.
Moving forward, you will need to get some gyming equipment, furnish your shop and develop marketing strategies.
When I wanted to start this business in 2018, I moved to a university area in Ogun state, and my greatest surprise, I had More than 50 members in the first week.
The very key to this business is good gym instructors, equipment, and proper branding.
I am very sure within some months if you take up this business, you will earn over 1 million monthly.
Car wash business
Is there any car wash in your area? They are. Do you know how much they earn monthly?
Let me open your eyes to this today. An average car wash center earns nothing less than 900,000 naira monthly.
This is a business you can start with low capital and set up. What you just need is to get the necessary equipment and a standby borehole for the successful running of the business.
Printing and branding services
Starting printing and branding services are considered lucrative in Nigeria. To start this business, you must have an in-depth knowledge of digital designing such as flyer, poster, cards and other types of design making.
This business requires huge capital for set up. For a start you will need 2,000,000. This amount will cover shop renting, housing, equipment and advertisements.
The fishery business according to the 2023 index report is the second largest fast-growing business following the poultry business. This business is very lucrative and requires a large setup like others.
With a fishery business, all you need is to create your artificial river, buy fingerlings and start rearing.
Once your fishes are mature, you can then sell it for commercial consumption. I am very sure, with the right skill and application, you should be able to earn a million dollars monthly.
A bakery business is a type of food service establishment that specializes in the production and sale of baked goods, such as bread, pastries, cakes, and other baked items. This type of business is highly lucrative depending on the niche you decide to work on.
Here in Lagos, the fast-selling bakery business is bread baking.
You can start your baking business and I assure you that within 3 months you will earn more than a million naira.
To achieve this great feat, you will need to buy some pieces of equipment to hasten everything. This equipment includes; oven, mixers, baking pans, refrigeration equipment, packaging materials, and a lot more.
What business can I start with one million naira in Nigeria?
The only business you can start with one million naira is the poultry business.
This business is very lucrative with a marginal return of 2,000,000 naira monthly. If you’re ready to start, read more about how to start a poultry business.