15 of the Best Small Business Ideas to Start In 2022
Looking for small business ideas to start in 2022 and beyond? Here’s a list to choose from.
Why start a business? Simple answer! Unemployment is not abating. The impact of Covid-19 is still heavy and factories are either closing down or down scaling operations..
Consumer spending is also lowering. However, people still need some goods and services to get by. So there exists big opportunities for individuals providing basic solutions at this period.
And in this post, I shall be discussing some of the best small business ideas anyone can do to make money in 2022.] and even beyond.
15 Best Small Business Ideas to Start in 2022
Here, in no particular order is my list of 15 of the Best Businesses you can do this 2022.
#1. Sale of Building Materials
Look all around you; what do you see? Ongoing construction of houses of all types. Residential accommodation, offices, markets, condos, etc.
All over Nigeria, there are new development areas that are increasingly attracting real estate projects.
Key in and start supplying building materials. You can’t go wrong with building materials business.
There are a variety of materials you can sell to this ready market. Here are just a few of the lucrative ones you can start selling quickly.
2. Sand and gravels
3. Roofing sheets
4. Locks and keys
5. Plumbing materials
6. Aluminum works
7. Pop (Plaster of Paris)
8. Iron rod
A lot of materials go into building projects. Hence, building materials market is very wide; you can’t do everything.
So decide on any one which you are passionate about and can easily learn if you have no experience. Spend a few months to understand the tricks before you set up. Then watch your business and money grow.
#2. Start a Block Industry
Block industry business will never go out of fashion. Reason is not far fetched. Just as we highlighted above, building construction is on the rise. It will continue to be due to growing population and increasing urbanization.
Blocks are very key material used for almost all types of construction project.
You can start small and scale. Luckily the equipment can be produced locally. This business can fetch you a million Naira every month in profit if you do it very well. The artisans by the road side are doing it and making money. Ask them.
In this other article, I show you how you can start a block industry in quick steps. Go read it.
#3. Start An Online Business
For a very long time in post pandemic global economy, online businesses will continue to thrive. Indeed, the world wide web is the new store front.
Thus any business that is not online will likely not survive. And if you can’t take your proposed business online, perhaps you should forget about trying at all.
Social distancing occasioned by the impact of Covid-19 pandemic is forcing businesses to go online. And as this continue to happen, the demand for business to business b2b solutions will continue to rise.
So if you are considering to start in a business in 2022, look at the services you can render on solutions you can provide for businesses online. There are many of such services. However, a good number of them requires some form of skills.
The first step therefore will be to develop a high demand skill, then create your business around it and offer it online. Having acquired the skills, below are some of the top online businesses you start or services you can render using your newly acquired skills.
Online Courses and coaching
Sell something online using your own website, marketplaces or the social media
Discover the tools for designing cards, t-shirts, letter heads, logos, etc and offer these services to businesses and individuals alike
Web Development –
as many businesses go online, they will need good websites to launch their presence. Be the one to design and build their websites. Fortunately, you can learn web design in few days or weeks. There are also a lot of free resources available online that you can study to get you started.
5. Build a Niche website –
A niche website is one which produces content on a specialty area. People are always looking for information. You will always get readers if your subject is interesting and content is engaging.
Produce engaging content, cultivate an audience or following and monetize with the many monetization options available.
Your content can be in form of text (blogs, membership site, forum, etc) or video (Youtube, etc). Being a content creator opens you up to a lot of opportunities. You can become an influencer and begin to get endorsement requests by big companies.
4. Mobile Phone Cases and Covers
Money do grow in unusual places. Phone cases is one such unusual fields where you can plant money.
You know why? According to statista, there are about 15 billion mobile devices in the world and it is projected to grow to 18.22 billion by 2025. These devices are used by over 6 billion people world wide.
The majority of people who buy mobile devices must surely buy phone cases and covers. Phones cases make it easier the carry the phones, offers protection from scratches and damages, as well as make them more desirable to carry about.
Phone cases and covers are thus, the most common and very high in demand phone accessories. The other is phone battery and screen protector.
Just selling of cases and covers is capable of earning you money in seven figures. The margins on mobile device covers may be low, so you will need to sell in large volumes. To do this, set up your shop in a busy street or very close to the market.
Use the opportunities offered by e-commerce platforms to sell to customers beyond your immediate environment. Those with some money to invest may consider entering into a contract manufacturing agreement with factories in China.
These factories are there to produce items that on your brand. You may get creative by giving them peculiar designs that will make you stand out among the competition.
#5. Become a Virtual Assistant
At the basic level, a virtual assistant is one who provides routine services for a company remotely. But the type of services such remote workers render is becoming more complex in nature. Thus, we have virtual assistance who provide a wide range of services from administrative, to more creative and technical assignments.
So if you have a skill like digital marketing, book keeping, keyboarding, etc., you are good to set up a virtual assistant business and begin to render such services to companies, small business owners, wealthy individuals and even consultants.
Some common assignments for Virtual Assistants include: administrative work, scheduling and managing appointment, data entry, sales research, content creation, social media posting, etc.
Since you are an independent contractor so to say, you can work with a multiple of customers without breaching any rule. Therefore, the amount of money you make is only a function of your strength and how you are able to organize your business.
The good thing about being a virtual assistant is that you can work for any entity in any part of the world without leaving your bedroom.
All you need is your skill, laptop and data subscriptions.
If you are looking for a home based business to start that doesn’t require you to invest so much in terms of capital, then consider becoming a virtual assistant.
#6. Interior Designing
Interior design is everything that is done to enhance the aesthetics of the inside of a building. It is about making maximum use of space, creating colours, textures and patterns to make a home desirable, comfortable and healthier to occupy.
This work range from the choice cottons, to furnishings, lighting, painting, wall decors, bedding, etc.
Become an interior designer in 2022. You will not regret doing so. The reason is that many people, particularly the upper income class are becoming more classy in taste when it comes to how their homes are set up.
Skilled interior designers and decorators are in high demand. Your clients are the ultra rich class, high networth individuals, corporate organizations and hotel operators, resorts and more.
If you are good at designs or are interested in the developing the skill, consider specializing in interior design. It’s a high in demand skill that can fetch you a lot of money.
#7. App Developer
App development is hot and those who have the skill are in high demand. Acquire the skill and set up your development agency or firm in 2022.
There’s an app for virtually everything. But more are still needed. There are millions of software or apps yet to be created as human and business problems keep replicating itself.
Therefore any good app to provides sufficient solutions to a problem, even if there are already existing apps in that area, will sell.
One good thing is that you need not be a tech nerd to develop apps. There are cheap courses you can take online to get started. Therefore, if you have ever dreamed of setting up your own software company, this is time to do so.
The key is to do your research, understand business or people’s pain point and find a solution. If you are one with a business background, can you develop tools that solves a problem, improve a process or enhance a service.
The opportunity in app development is very wide and only limited by your creativity. And certainly software development is one of the best businesses to start anytime.
#8. Digital Event Planning
The management program put in place by health authorities all over the world to manage and curtail the spread of Covid-19 did not just redefine the way events are held. It disrupted it. Particularly for corporate events.
Companies now hold meetings, training sessions, conference online using tools like Zoom. But it’s getting more interesting as a new industry is gradually emerging. Institutions increasingly hold events online and this will continue to be so well into the future.
In some countries, company laws are have either been reviewed or undergoing review to incorporate electronic meetings. This means that companies are now free to hold board meetings and general meetings online.
Position yourself as one with digital event planning and management skills that is capable of providing solutions to make these events successful. And you are in big business.
#9. Become a Health and Wellness Coach
I doubt if there’s anybody that doesn’t want to be healthier.
Even corporate organizations pay attention to this. Some encourage their staff to enroll in programmes that show them how to live healthier and smarter.
Living a healthy lifestyle may look simple: eat right, sleep well and exercise enough, But for most people, it’s a tough call to develop and keep to a programme.
This is where Health and Wellness Coaches come in. They provide professional support to help their clients achieve specific health goals.
Health goals can can be varied depending on individual’s needs: keeping fit, loosing wealth, managing stress and generally improving energy and so on.
It’s a big industry that keep expanding. And as a wellness coach you will be doing a whole lot of things to help your client achieve their goals. Teaching, guiding, recommending and selling supplements, guiding them in physical exercise are some of the regular services you may be providing.
#10. Tailoring Services
Tailors make dresses and they are very important in the fashion industry. However, good tailors are hard to find.
Big fashion houses, individuals, schools, etc., are always looking for good tailors to work with. Become a good tailor, set up as an independent contractor and see your business blossom. You must first get very good training. It’s your work that will speak for you.
Once you develop the reputation as a tailor that makes good clothes, keep to terms and deliver on time; customers will continue to seek your services.
And the best part is that you may not even need so much money to start. Your most expensive investment is probably a quality sewing machine, then a shop in a location that is easily accessible. Other equipment you need are relatively cheap to get. This include scissors, measuring tape, pressing iron, pattern paper and perhaps, mannequins. You may need mannequins to display ready made clothes or showcase your designs.
#11. Car Wash and Detailing
Car wash and detailing is one of the very lucrative small business ideas that will never go out of fashion. The demand for good car wash services will always be there.
You may need some investment in a space and equipment. But the amount you spend is a function of how sophisticated your car wash is.
The good thing is that, whether it is a basic or a sophisticated set up, you will always have patronage. What really matters is how you serve your customers.
Read our guide on how to start a car wash business for more details about this business.
#12. Dry Cleaning
Laundry and dry cleaning services is very high in demand. The demand will not drop soon because people are getting busier. Women, particularly housewives who hitherto manage the laundry at homes are also getting busier with work and business. Many of them are becoming bread winners.
What does this means? More and more people are patronizing dry cleaners. Dry cleaning business is about setting up a facility to wash, dry and iron clothes for individuals and even organizations. It’s a big business but one you can start at a small scale and grow to large size.
Build your reputation by delivering clean jobs and on time. You will become the go to dry cleaner in your neighborhood.
It’s easy to start. Get a washing machine, pressing table, pressing iron. a few stain removing chemical, hangers, etc’., and you are in business. You’re storefront or shop must be neatly set out to give your clients comfort.
Add home collection and delivery service for premium customers.
Closely related to dry cleaning is home cleaning services. You can add this to your service offering and help upwardly mobile or busy individuals clean their homes, offices and workplaces. Home Cleaning in itself and you can be successful at it if you learn the tricks to do it properly
#13. Dog Breeding
If you love pets or understand a little about animal husbandry; then breeding and selling dogs is one of the small business ideas that you can comfortably start.
Dog is said to be man’s oldest and longest friend. People keep dogs for many reasons: as pets, companion, or for security.
Find out the breed of dogs that people demand most, breed them, sell as puppies or train to maturity before selling.
You will have to spend some time to understand the market before you venture into dog breeding. Apart from wealthy individuals and other classes of people with discretionary income to spend, your customers will include pet stores, private security companies and public agencies.
Baking is a subset of the larger food industry. And the food industry is a big one, generating about 8 trillion US dollars in revenue in 2020.
You can cut in the pie by learning to bake and opening your own baking business.
A baking business make a variety of snacks like cakes, cup cakes, cookies, brownies, pies, muffins, bread and pastries.
As you can see, it is a wide sector and you cannot offer everything. So niche down and specialize in one or two aspects.
Some specialize in cake making, others do bread. There others who specialize in pastries and so on. Decide on a niche, develop your competencies and offer the best the market can get.
#15. Sale of Perfume Oil
One of the profitable small businesses anyone can easily do and with small amount of initial investment is the sale of perfume oil.
As a matter of fact, this business is trending. The attraction is in the little capital required to start and the huge profit margin per sale.
Perfume oil or frangrances are blended essential oil, diluted with propylene glycol. Some people say they are undiluted perfumes, Whichever, you consider it, the fact is that perfume oil smell very nice and last long on the body.
The business is in buying these frangrances in wholesale and retailing to end users. The profit margin on one bottle can go as far as 50%; or more.
The come in small bottles and sell for between N500 to N1,000. So they are affordable and customer can pick as many packs as he can afford.
These blended scents are most imported from Dubai or Saudi Arabia. They are repackaged in smaller bottles and sold to middle men who now retail to end users.
With as small as N20,000 you can start this business by buying from importers and retailing at more than 50% profits. How much you can sell is only limited by how well you can market your products.
There are quite a lot of small business ideas you explore in 2022 and even beyond. Some you can do as side hustle; combining it with your regular job or major business. Some you can grow to become your major business.
Identify one that meets your expectations, do your research. plan and raise the necessary funding before you start.
If you need to develop a business plan on any of the businesses listed here or any business at all, contact us. We can help you write a business plan you can use to attract bank loans, investors and debt capital.
Buchi creates content and leads the Team at Stalwart Investment Partners; a business development and investment consultancy firm. He provides strategic advisory to help SME's, small business owners and HNI's grow profitable business and make informed investing decisions.