A plot of land is a small area of land, particularly one that has been measured or designated for a certain use, like the construction of a house or the cultivation of vegetables. A plot of land is typically 18 meters by 36 meters (meters), which converts to 60 feet by 120 feet (Feet) and 648 square meters. I’s an area that has been marked out.
According to Nigeria’s land divisions, a plot that is 100 feet by 50 feet is ideal for building a house. A hectare is a plot of land that is 100 m x 100 m (328 ft x 328 ft) in size. 50 by 100 refers to 50 feet by 100 feet, which is equivalent to 15 meters by 30 meters and 450 square meters for a rectangular property. Due to the access road, it is somewhat less than what is commonly referred to as 1/8 of an acre. Plots do not have fixed measurements.
Plot sizes range from more than an acre to as little as an eighth of an acre. It often depends on the area. A common unit of measurement used by land sellers, an acre, is about equal in size to a regular football field.
Businesses are exclusively focused on creating goods or services to sell, filling a certain societal need, and making a profit. Businesses put a lot of effort into making a profit, but they also care about society needs and achieving shared objectives. Businesses are made up of people cooperating to achieve shared objectives as well as the needs of society. A business is an occupation or trade that involves buying and selling goods and services in an effort to turn a profit.
Farming is a prime example of a business. An organization or enterprising entity engaging in commercial, industrial, or professional activity is referred to as a business. Businesses can be for-profit corporations or charitable institutions. Making a living or earning money through the production of goods or the purchase and sale of goods is known as business.
There are several businesses one can do but having just a plot of land or not having enough funds to purchase more than one plot of land looks like a major limitation. But in this article, we would be giving you ten businesses or business ideas you can start on just a plot of land and get as much return on investment – ROI
1. Poultry Farming
Today, poultry farming is a big industry divided into a number of businesses, such as hatcheries, pullet farms for the production of meat, or farms for the production of eggs. Along with farming, the poultry business offers good employment opportunities. Raising domesticated birds for their meat or eggs, such as chickens, turkeys, emus, ducks, and geese, is known as poultry farming. Commercial poultry farming, according to industry operators, is also quite profitable. They claim that raising poultry has several advantages.
According to experts, this is another factor in why many farmers want to engage in this industry. To ensure successful poultry farming; Make sure the birds are housed properly and healthily. The poultry housing system and fencing alternatives are the most crucial things to think about. Up to 40% of your ability to succeed in poultry farming is determined by your strategy for housing the birds. The most crucial goal for your business is to have a robust housing system. Although owning a chicken farm can be incredibly labor-intensive, it can also be very rewarding. Poultry farming has already shown that it can be extremely profitable. Starting a small chicken farm could be a terrific source of income for your family if you have the necessary space and experience.
In the current Nigeria market environment, poultry farming is one of the agribusiness sectors with the fastest growth and highest profitability. Additionally, starting a poultry business is the smartest move for anyone looking to launch a lucrative agribusiness career in Nigeria.
2. Food Business/Restaurant
Any company, venture, or undertaking that involves the handling of food is considered a food business. This comprises for-profit, nonprofit, philanthropic, and communal organizations. Food is, as we all know, our most basic requirement. We can avoid purchasing new clothing, but it will be difficult to avoid hunger. The food industry is one of the most lucrative industries in the world because of this. The food and beverage industry is becoming more popular when compared to other industries like retail and fashion. Meatless vegan and vegetarian dishes made with vegetables, pulses, and legumes, sauce-based cuisines like curries, soups, and chillies, as well as other foods with inexpensive basic ingredients like pizza and pasta, have the largest profit margins overall. One of the most lucrative small business ventures to launch with little capital is a food business. The food industry is arguably the most flourishing industry in Nigeria as a result of the expansion of the foodie and gourmet culture around Nigeria. However, raising capital to launch a firm might be challenging if you don’t have the appropriate idea, particularly in these times. All around the world, the food industry is one that never goes out of style. A restaurant is a place of business that prepares and provides customers with food and beverages.
Although many restaurants also provide take-out and delivery options, meals are often served and consumed on the premises.
- Some of the essential components of a successful restaurant include;
- A strong sense of brand identity,
- Hiring and motivating staff,
- Creating a positive work environment, becoming familiar with profit and loss statements,
- Developing a menu that is profitable,
and knowing how to market your best-selling dishes.
Restaurant management is challenging.
Which likely explains why 60% of restaurants fail during their first year. Moreover, only 80% of eateries survive past 4.
They frequently do this as a result of ignoring some or all of the warning indicators that a restaurant is in trouble or by committing a number of errors. Simply put, restaurant operations are a variety of tasks that are completed in a restaurant in order to manage the functioning of the establishment. All tasks related to food preparation, customer service, cleaning, acquiring raw supplies, bookkeeping, reporting, etc. are included in this.
Being a restaurant owner is a great way to grow as a person. People are sure to flock to your restaurant if it offers something special to them. You get to meet new people every day because you will be establishing a reputation for yourself as a restaurant owner.
3. Shop or Block of Shops
You can build, erect or buy a shop or block of shops for personal use or for rent. Shops can serve a variety of purposes. There are many kinds of shops that you could decide to choose from, including;
- Hairdressing salon, barbing salon,
- Laundry shops, tailoring or fashion designing shop,
spa shop, massage shop,
- Jewelry shop, cloth and accessories retail shop,
- Provision store, foodstuffs store,
- Mobile phones and accessories shop, Computer repair, Cosmetic store,
- Perfume store, Stationery and books store,
- Thrift store, IT hardware store,
- Auto Spare parts store, Office space,
- Organic food shop, ice-cream shop,
- Medical store, Florist shop,
- Tattoo parlor, Electronics store,
- Pharmacy or drugstore, kitchenware and other ware store,
- Kids store etc.
A laundry shop can go alongside with a hairdressing salon and maybe a cloth retail store in one place and so on
4. Supermarket (Medium)
A supermarket is a self-service store with various food, drink, and household goods options divided into categories. While this type of store is bigger and has a wider variety of products than older grocery stores, it is smaller and offers a smaller selection of goods than a hypermarket or big-box market. Fresh meat, produce, dairy, deli foods, baked goods, and other commodities are frequently available in the supermarket. Additionally, shelf space is set aside for canned and packaged goods as well as a variety of non-food items like pet supplies, cookware, and cleaning supplies. Some supermarkets also carry other commonly used household goods including alcohol (where legal), medications, and apparel, in addition to a considerably greater selection of non-food items like DVDs, toys, sporting goods, and holiday decorations (e.g., Christmas wrapping paper in December).
The typical supermarket takes up a sizable amount of space on one level of the building.
To be handy for customers, it is typically located close to a residential neighborhood. The availability of a wide range of products under one roof, all at reasonable rates, is the main draw. Other benefits include the simplicity of parking and, frequently, the comfort of extended store hours—sometimes 24 hours a day. Supermarkets frequently spend a lot of money on advertising, generally in newspapers. Additionally, they offer sophisticated product displays within the stores.
5. Livestock Farm;
Simply put, raising domestic livestock or farm animals for their meat and other products is known as livestock farming (milk, eggs, leather, etc.). Systems for raising livestock yield milk and meat for human consumption. Important dietary components, especially protein, are offered by the milk and meat. Producing livestock can help sustainably manage rangelands, protect wildlife, and improve soil fertility, nitrogen cycling, and soil moisture retention. Although homesteaders with small plots of land won’t be able to rear cattle, beef cattle are thought to be the most profitable livestock and the easiest to raise for profit. Whether you want beef or dairy cattle, they need a lot of good-quality grass, extra hay, fresh water, space to graze, and medical attention from a veterinarian. Farm animals, with the exception of poultry, are called livestock. In our nation, the term “creatures used in agriculture” often refers to cattle, sheep, pigs, goats, horses, donkeys, and mules; in other countries, it may refer to different animals like buffalo, oxen, llamas, or camels.
Certainly, raising cattle is a profitable industry on both a large and small scale. The demand for livestock products is rising quickly and is anticipated to continue doing so. The most typical method farmers profit from their land is probably through their livestock. And while animals have a few more costs and a larger overhead, their net income is typically very high.
6. Photo Studio
A workspace created expressly with taking pictures in mind is known as a photography studio. A studio will typically have a well-lit area with a plain background to enable the taking of pictures in an area without distracting external light sources. According to Farren, one of the most cutthroat industries is photography. “In order to make a reasonable life, you must be a very successful businessperson.
If you get off to the right start, you’ll arrive far more swiftly. If you have the correct tools, writing a business plan doesn’t have to be a difficult effort. If you work hard, starting your own photography business is a terrific opportunity to add a second or primary source of income. Despite the fierce competition in the photographic market, many business owners have been successful in securing a stable livelihood. To succeed in photography, as in most creative undertakings, you must strike a balance between your love of the art and practical business knowledge. Both natural talent and a knack for marketing are necessary to start and expand your firm. One of the most crucial elements in success, according to a photographer we spoke with, is the ability “to advertise oneself.” You should constantly be working to advance your trade, your product, and your personal branding, web marketing, and interpersonal skills.
7. Snooker and Pool Business (with/or) Bar
This business is perfect for you if you need an additional source of money. When marketing is done well, the snooker table industry as a niche model has potential. Pool (snooker) game centers were once well-liked, and with clever branding and some creativity, they could become so once more. Basically, snooker is a fun game with a number of health advantages. It’s also a fantastic way to unwind and a fantastic pastime.
After work, working-class people frequently play snooker. It’s basically a terrific way to unwind, chill out, and connect with pals. Snooker is more popular with men than with women. However, women are also included. It’s a fun game for smart people. Any leisure or entertainment-related activity is in high demand in Nigeria right now.
This business fits the bill well. It’s easy; you just buy a table, put it in a convenient spot where people can use it, and you pay as they play. As the game progresses, you gain money. The good news is that you don’t have to be present constantly. This can go alongside with a bar or native food restaurant like isiewu, nkwobi and the likes of them.
Or you decide to do the bar and native food restaurant as a separate business.
8. Viewing Center
Nigerians enjoy sports, hence this industry is quite lucrative (especially in urban areas). At least eight out of ten Nigerians enjoy watching sports, primarily football, and five of these eight individuals visit local football viewing venues in Nigeria to watch the game with friends. Purchase a suitable location with room for growth, such as a building. If the area is open, such as a football field, you might need to hire a carpenter to create a tent shed out of zinc. Make sure the structure is large enough to hold a lot of people (say 100 to 300 seating capacity). Before deducting costs and excluding revenue from beverages and other refreshments, a regular-sized viewing center that can seat 50 to 100 people and display an average of 4 matches per day can make upwards of N56,000 over a busy weekend during the football season.
9. Special Farming (Farming High-Value Crops)
The term “specialist farm” refers to a farm where at least 50% of the farm’s revenue comes from a single enterprise, such as crops, cattle, dairy products, poultry, etc. For this farming, specialized market channels and stable economic conditions are required. You can start a particular agricultural business, such as hydroponically growing high-value crops, beekeeping, snail farming, prawn or shrimp farms, fish ponds, exotic flowers, herbs, or high-value crops.
10. Block Industry and/or Car Wash
Nigeria’s block industry is lucrative because it is a key component of home construction. Unlike wealthy nations where buildings are constructed using various elements like iron, concrete, wood, or even plastic. Setting up a plant to mass produce blocks of varied sizes is what the block industry is all about. selling to those who are constructing homes or to contractors managing other types of construction projects. The two types of cement bricks are solid and hollow. By renting, leasing, or acquiring land on a new or developing site, you can launch a block industry. Depending on what you can afford, it might be a plot or even more.
It is best if this land is not located near a swamp or other body of water because it may degrade the quality of your block. By dividing the land, you can either decide to open the carwash concurrently with this enterprise or separately. One of the numerous benefits of having a car wash that appeals to new business owners the most is the quantity of profit that can be made. While larger luxury vehicle washes can bring in owners more than 500,000 and beyond per month, smaller self-service car washes typically make just over 100,000 per month in profit.
Depending on how big you want to start, the business can be run by one person or several. Making N500k a month in the car wash industry is as simple as playing a game of poker since it is so lucrative.
No specific social class is excluded from the business.
In conclusion, many of these businesses would work better depending on your location and start up fund.