Businesses that are into buying and selling of goods are always looking for that particular product that just flies off the shelves. Even with slim margins, fast moving goods helps the turnover and eventually, profitability for an ongoing business. We want to showcase a few products/sectors that are currently fast moving as business and start up ideas.
- Farming & Food
At the top of our list is food. You cannot go wrong with selling food either in the raw or cooked form. Food is a basic human need and the current global situation has seen a spiked up demand for food. These are indeed good times for farmers, food processors, food vendors and even restaurants that do takeaways. The rise of delivery and logistics set ups to aid online transactions has really helped the growth of the food industry in Nigeria.
- Pharmaceutical & Healthcare Products
This category of products are another critical human need. A healthy populace is a productive one. With the rise of Covid-19 and spiked up demand for sanitizers and immune boosting drugs and supplements, businesses in this sector have seen sustained demand for the products. We have also witnessed growth in very modern and well stocked pharmacies in newly built shopping malls that attract a lot of people around the country. This is definitely one hot sector to be in now.
Some people would be a little shocked to see water business in this list. However, the water business in Nigeria has really matured and shown consistent growth. A visit to any big store or even small neighborhood shop will provide evidence of the volumes of drinking water sold on a daily basis. Two factors have actually driven this growth; first is the lack of pipe borne treated water pumped to homes, second is population growth that has led to new dwelling areas not covered by central water schemes. These two factors have been exploited by water businesses like CWAY, Nestle etc. that have invested in water dispensers and distribution systems around the country. However, there is still room for new entrants in both the bottled and packaged water sectors.
- Cleaning Products
Cleaning products like bleach, detergents, hand sanitizers, paper towels, toilet paper etc. have also experienced spikes in demand. There is greater awareness on the need for such products now. This singular fact would help drive and sustain future demand for such cleaning products. There are many players in this sector currently, but its still a good sector to be in. You are basically guaranteed sales once you can produce and sell.