At Nigeria Online Business, we have been enlightening Nigerians on different earning opportunities that can bring about financial freedom. In today’s post, we are going to be revealing to you some business opportunities that can
earn you at least A million Naira before 2020 runs out.
If you are ready, read on.
1 Onion Products:
According to fact fish, Nigeria is the eight largest producer of onion in the world and produces about 4.3% of the onion produced globally. This translates into billions of naira for those that know how to utilize the opportunities that lies in onion.
I will show you 2 very important onion opportunities that can earn you a million naira in 2020.
First I will start with onion seeds: I know not a lot of people knows about what onion seeds are, these are very tiny seeds that are planted to get onion. They are much smaller than tomatoes seeds.
Onion seeds are mostly available for purchase between the months of august and September in the northern part of the country.
The unfortunate part of it is that most of the farmers that will need those onion seeds for dry season farming of onion are still battling with their farms and in most cases are church rat broke because of the expenses on their farms.
So, around this period (august – September), if you buy and store this onion seed for about a period of 2 months, the price can double up to 5 folds or more. I mean an investment of N250k in these seeds can yield over 1 million naira in profit.
Secondly, under onion products I will also discuss about onion itself
Onion stored during the months of august and September also doubles about 8 folds during December. Onions are abundantly available during august – September, so they are very inexpensive.
If you took a typical case study in 2019, onion that was selling for between N2800 to N3500 per bag in august in most northern states that produces onion went up to N28, 000 or above in most other parts of the country that dont produce onion in December. This means that, a 250k investment will translate to over one million Naira in profit.
2. Sweet Potato Chips Production:
This business requires very little startup capital. The major raw material which is sweet potato is very inexpensive. What you require to get started are: wide frying pan, oil, iron drainer, vinegar and other spices, slicer and packaging. The package can be a white leather that have a seal and a little paper inserted for contact details and bulk buyers.
Let’s do some basic analysis. Cost of production per pack is N15, selling cost to hawkers and other resell outlets is N35. Profit per pack is N20. Let’s say you have 20 hawkers that sells 20 packs each daily and 20 supply stores that sells an average of 10 daily. This will translate to 20 packs x 20 hackers = 400 x 20 profit = N8000 naira profit daily from the hawkers.
From the supply stores: 20 stores x 10 packs each = 200 x N20 profit = N4000 profit daily from the supply stores.
N8000 + N4000 = N12, 000 daily profit x 30 = N360,000 monthly. If you multiply by the remaining 10 months in 2018 we have N3.6 million naira.
3. Local Drink Production
These drinks can be any of the local drinks that are In high demand. They can range from “kunun aya, Ginger Zobo, Soy Milk” etc. you can also start in a very little way, you can borrow coolers, pots, big bowls etc and then buy your own gradually.
If you master the production this drinks, the profit per bottle depending on the form of packaging can range between N30- N70.
If your profit per bottle is N30 make your goal targeting 5 distribution outlets that can sell up to 30 bottles of the drink daily. This will amount to 150 bottles daily.
150 bottles multiply by 30 = N4500 daily x 30= N135, 000. If you multiply N135, 000 by remaining 10 months in 2020 =1, 350, 000.
There are many ways to make N1, 000, 000 in 2018, above are just a few out of the so many others.
While some people will jump and start acting on the outline in this post, others will prefer to make excuses. In whatever category you fall in, thank you for reading this post and we hope that this or any other post on Nigeria Online Business will soon change your life.
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