Underrated business ideas that can make you a millionaire in no time

Hey, we're not here to advertise one of those get-rich-quick schemes, so don't think you'll suddenly become a millionaire overnight.

Being rich in Nigeria requires hard work, but the good news is that you can turn your fortune around if you're ready to get to work.

There are so many underrated businesses you can start today that can build you solid wealth within a short period. Here, let's review 5 of them.

You'll be surprised how some of these business ideas have been staring you in the face for a long time.

POS Services

ALSO READ: 10 profitable businesses you can start as a student in Nigeria

I know what's on your mind - “common POS? Besides, there are now too many operators in every neighbourhood.” Well, if they're not making money, they'd have closed up. If you can strategize well, you'd be surprised how easy it is to hack this business.

Simply get somewhere with high foot traffic and site your business. Be polite to customers and ensure you always have cash to deliver. You'll be surprised at how quickly your customer base can grow; of course, you know that more customers equals more money.

Daycare

These days, the trend of bringing a cousin or niece to babysit newborns is quickly declining despite more women choosing the professional line. That leaves a vacuum that you can cash out from.

The good thing about this one is that you don't need any capital. If you love to take care of children, this one's for you. Go to banks and other professional settings to advertise your business. You'll be surprised by how many mums are looking for someone to care for their children while at work.

Cleaning business

This one is pretty obvious, right? It doesn't even cost much to start and run. But guess what? There's always someone in your neighbourhood looking for someone who can professionally clean their home or office. You probably already have most of the things you need to start this one.

ALSO READ 10 businesses you can start with ₦50k

Waste collection

If you live in an urban area, you'd definitely want to try this one. The estates and big houses in your neighbourhood are constantly looking for someone who can handle basic tasks for them. Put your marketing skills into action.

Negotiate with them about helping them throw away their dirt from time to time. Imagine getting monthly pay from 100 flats for something as simple as collecting waste. It can quickly accumulate into something huge.

Electrical repair

If you can, please learn electrical repair. Electrical issues happen almost every time, and when they do, they always require urgent attention. So, people always demand skilled labour in this field.

Depending on how skilled you are, you can be charging up to 20k for minor repairs. Multiply that by how many jobs you can land in a month and see what you've been missing.

There are so many more, from recyclers to gadget engineers. It just boils down to your skill and marketing ability. You'll be surprised by how quickly these businesses can grow once you start.