11 Lucrative business opportunities in Lagos: Best businesses that are thriving in Lagos

Welcome to Topschools.com.ng, the topic is "11 Lucrative business opportunities in Lagos: Best businesses that are thriving in Lagos"

There are many business opportunities in Lagos, see below for how to make money in Lagos State.

In this article, I will show you how to make money in Lagos considering all the available business opportunities we have there. Stay tuned.

How to make money in Lagos

Let us take a brief look at Lagos: Lagos is among the 36 states that make up the Federal Republic of Nigeria. It was created on 27th May 1967 and it is the smallest state in Nigeria, as it occupies an area of 3577 square kilometres, of which 22% consists of lagoons and creeks.

Lagos state shares boundaries on the North and East with Ogun state. On the West it is bordered by the Republic of Benin, while on the south it stretches 180km along the coast of the Atlantic Ocean. Ikeja is the capital city.

Ironically, Lagos being the smallest state has taken the number one spot as the most densely populated state in Nigeria, and the most popular in Africa. As a result, the state is the home of industrialization with numerous business opportunities for investors.

A lot of people visit Lagos on daily basis for one business or the other. The oil industries also help bring more expatriates into the state. This has gone a long way to create lucrative business opportunities in Lagos state. 

However, you may wonder if there are still business opportunities in Lagos for you to key into. As a result, you may find yourself asking questions such as: what are the business opportunities in Lagos? It is guaranteed that you are not the only one asking this question. Someone else might be asking to know how to make money in Lagos, as well as about the emerging business opportunities in Nigeria. 

This post is conscientiously written to answer the questions you have in mind about the lucrative business opportunities in Lagos. It will also bring to bare the best businesses that are thriving in Lagos. 

Restaurant/Fast food business 

Anyone who have been to Lagos can attest to the fact that a greater number of people living there hardly have time for themselves. This is because most of them are working class who will leave their homes as early as 5am and return anytime from 9pm. As a result, they depend on restaurant and fast food vendors for the replenishing of their energy. That is the reason food business is one of the lucrative business opportunities in Lagos you should key into. 

Aside the working class factor, human beings cannot just survive without food. Also, the reason restaurant is one of the lucrative business opportunities in Lagos is because there are people who don't joke with their dieting, hence they can't starve themselves because they are not at their homes. As a result the food vendors are always the first point of call. So, any level of food business you want to start from, you can be sure of huge patronage. 

Hotels business

Another lucrative business opportunity in Lagos you should consider is the hotel business. Lagos is the most busiest state in Nigeria and many people visits the state on daily basis to transact one business or the other and for events. 

Hotels are where they always resort  to in order to spend their night in the state safely. Sometimes these hotels are used to hold major events or concerts in the state. So it is indeed a lucrative business opportunity in Lagos you can start looking into, if your financial stand is strong enough.

Transport/Taxi business

Some of the inhabitants of Lagos state do not own their vehicles, while some that have may sometimes opt for public transport because of the unfriendly nature of traffic. So they depend on public transport system to catch up with their daily activities. This has made transport business one of the lucrative business opportunities in Lagos. 

Another area of transport is the haulage. As Lagos is a business hub, manufacturers and importers are always moving their goods and you can charge between 10 - 300k per trip, depending on the distance. But you must always ensure that your vehicle is in good condition.

Real Estate

One of the challenges faced in Lagos is insufficient accommodation. Landed properties do not depreciate in a hurry, rather they appreciate as days passes by. Investors who buy, develop and sell landed properties earn more money than you can imagine. That is the reason real estate is the fourth on our list of the most lucrative business opportunities in Lagos.

Mobile phone vending and repair outlet

Mobile phone vending is one of the businesses with very high rate of patronage. If you ask anybody that sales mobile phones in the computer village, you will be shocked at the profit they make on phone sales. Some people don't even use one phone for more than one year without changing. 

•  SEE ALSO: How to Make Money in Uyo, Akwa Ibom

Many people from other states come into Lagos to get their phones either for further retailing or private use. So you can start making money through selling of smart phones. You can add other accessories for gadgets to your list. Knowing how to repair phones and other gadgets is another factor with huge financial returns. That is the reason it is included here as one of the lucrative business opportunities in Lagos. 

Cosmetics and Jewelry

Lagosians do not take chances when it comes to looking good. As a result, most of them, especially ladies and artists spend huge money on jewelry and cosmetics. So, it is one of the lucrative business opportunities in Lagos where you can look into and change your financial status.

Boutique business

Boutique business is one business that is undoubtedly very lucrative. So far you have quality and trending materials to satisfy your customers, then you will certainly make it big in the business. 

Hair styling salon

Still on looking good, here is another lucrative business opportunity in Lagos you should invest in. Most of our ladies visits the salon more than once in a week, for one service or the other. So you can be sure of patronage. 

Also, if your financially status is buoyant to the point of opening a unisex salon, you will gain more because men too, are keen on looking good! 

Fitness/Gym center

In Lagos, a good number of people are interested in keeping fit, hence visiting the gym is common practice. If you can open a gym centre, you will make good fortune from the business. 

Some gyms charge monthly fee between 10k to 40k, depending on the equipment they have and location. To compete fairly, you may reduce your price a little bit in order to capture the hearts of the people. You can start a gym centre with few equipment while you keep procuring others gradually. This business requires a reasonable capital to start. Lagos Island is best fit for this business.

Laundry/ dry cleaning business

Some clothes just require the professional services of dry cleaners. You may not realize this until you have materials like agbada or other materials that you will suffer just to wash and iron them. 

This is the reason people who are into dry cleaning business are making it big if they can satisfy their customers and as at when due. So it is however one of the lucrative business opportunities in Lagos that is also thriving. 

Cleaning business

Both government and nongovernmental establishments in Lagos request for the services of cleaners. Also, some people do not have the luxury of time for cleaning their apartment especially the expatriates and top businessmen. 

This has caused some cleaning companies to spring up in different parts of Lagos. You can start your own company. Ensure that you have the basic equipment for a start. You will not be disappointed as this is one of the lucrative business opportunities in Lagos which is also thriving. 

Now that you have known where to invest your money, go ahead and start making more money. The top is where you belong. See you at the top. 

Do well to let us know your views in the comments section below. 

Good luck.