304

Starting an online business can be a great way to make money and be your own boss in Nigeria. 

But with so many different business ideas out there, it can be hard to know where to start. That’s where this blog post comes in. It puts together some of the best low-cost online business ideas with high profits. 

We also provide you with learning resources and tools so that you can equip yourself with all the skills to succeed and build a thriving business. So whether you’re looking to start a side hustle or a full-time business, these low-cost online business ideas are a great place to start. 

Now, let’s begin.

1. Backlinks building

Backlinks are one of Google’s most important ranking signals. 

Getting as many of them as possible can help you rank any website on Google, improving search visibility. You can make good money by providing this service to SEO professionals and businesses.

And the good thing is this is a low-competition niche and so you’re sure to cash out big time.

Use our expert link building guide to learn how to build quality backlinks. We recommend prioritizing Adsy and press releases.

2. Content marketing

Content marketing costs about 60 percent less than traditional marketing and generates three times as many leads. Several brands are looking for ways to leverage their channel to boost search visibility, build relationships and generate leads.

If you can demonstrate to brands how you can help them achieve this, then you might be on your way to building a thriving content marketing agency.

Use insights from these resources to deliver effective content marketing campaigns:

• Best content marketing strategies for dentists
• How to create compelling content
• Top content market strategies for HVAC contractors

3. Affiliate marketing

Many brands are willing to pay huge commissions to anyone that helps them get customers. And this is what affiliate marketing is all about. It’s a huge industry with over $17 billion global market size. So, you’ll have a slice of this pie if you can help SaaS businesses get new customers. 

A lot of online resources can put you on the right footing. And you might want to begin with this.

4. Sales leads generation

Businesses need a steady stream of leads to stay above the water.

You can start this online business idea if you can guarantee them this. Use a compelling copy and clear value proposition to onboard your first clients. When you do, focus on growing their website traffic. Then use online tools like Collect Chat to convert the web visitors into leads.

Use this tactic with other lead generation strategies to scale your clients’ leads.

5. Search engine optimization

SEO is one of the most sought-after online marketing services. If you are good at this, then you’d make a lot of profits monthly. However, you’d need to show a solid portfolio to get clients. So, we recommend building this up before diving in deeply.

Use our resources on advanced SEO strategies to add to your knowledge.

• Advanced HVAC SEO strategy
• Surfer SEO review
• SEO strategies for dentists
• Is Surfer SEO good?

6. Social media management

Start a social media agency to help brands manage their accounts, gain a share of voice, improve customer engagement, and drive sales. It’s one of the most profitable low-cost online business ideas, but very competitive. So, you’d need to roll up yourselves to land clients.

Use Sendible to streamline your processes and deliver value to clients.

7. Virtual assistance

As a Virtual Assistant, you’d work remotely with companies and individuals, providing them with administrative, customer service, or marketing tasks, like data entry, calls handling, and social media.

You can find VA jobs on Fiverr and Upwork. Alternatively, create your virtual assistant service websites and promote them to reach prospects directly.

8. Email marketing

Email marketing is one of the most cost-effective channels. 

Consider this idea if you know how to use it to generate, nurture and convert leads, upsell customers to drive repeat businesses, and boost customer retention. Also, take online Udemy courses on email automation to learn how to deliver consistently exceptional email campaigns:

Here are our top picks:

• Email Marketing Masterclass: Start and Grow Your Email List 
• Marketing Automation: Automate Your Business and Grow Sales
• Digital Marketing: Complete Marketing Automation Course

9. Website design

Another solid low-cost online business idea for those that want to work from home. 

You can begin with WordPress. The content management system powers 810 million websites worldwide, about 43 percent of all websites. So, the demand for WordPress sites is high, and it’s also more straightforward than designing a new website from scratch.

10. Domain name flipping

This business idea is about registering a domain and reselling it for a higher cost. It’s one of the most profitable online businesses, especially if you deal with niche sites. However, this business requires some capital to start, but the gains far outweigh the investment.

Use these online Udemy courses to build a thriving domain name flipping service.

11. Content writing

A solid business idea for those that can write very well.

To start this business, you only need a laptop, a reliable internet connection, and a premium Grammarly subscription. This niche is competitive but financially rewarding. Therefore, you may need a strong portfolio to stand out. We recommend that you begin your gig searches with content marketing teams.

They can guarantee you steady jobs.

12. Dropshipping 

Dropshipping is a $221.3 billion industry.

Analysts project that the number will reach $931.9 billion in 2030, more than twice the current Austrian GDP, the EU’s tenth-largest economy.  So, the future looks promising for people in this business. 

It involves selling to customers without physically holding inventory. Instead, the manufacturers or suppliers deliver to them after they have checked out from your site. You’d need an eCommerce store to run this business, which could require little investment.  

Check out these cheap dropshipping courses on Udemy.

13. Publish an eBook

Amazon said KDP authors have earned over $1.1 billion through the program.

So, you can earn a lot of money publishing eBooks on Amazon. However, this is a game of numbers. So, publish as many valuable eBooks as possible. Additionally, use off-Amazon channels like social media, a landing page, and Google paid search to promote your eBooks.

Email works too.

14. Online courses

Online courses are another financially rewarding online business idea.

Udemy is a viable option to begin with. Alternatively, you could run your online course website. This would provide you with greater control over your students, revenue, and marketing. However, this route would be more expensive.

15. NFTs 

This business model allows you to sell unique art in a digital format.

NFTs are in high demand as they help art lovers establish secure ownership of an original digital asset. Beeple sold his The First 5000 Days NFT for $69 million. Also, Nonfungible.com reported over $15 billion in sales on the Ethereum blockchain in 2021, up from $69 million the previous year. 

These numbers show how profitable this business could be.  

16. Blogging 

You can earn money from blogging through third-party ads.

Also, brands could reach out for guest or sponsored posts, which are also good revenue sources. This model is financially rewarding if you’re consistent and patient to wait for the results. For a starter, pick a niche you’re passionate about and then strive to deliver valuable content.

17. Data entry

This job involves entering information or updating records in a database.

It’s a business you can start without any specialized skills. The best places to begin are Fiverr and Upwork. However, the job is competitive and you might need to roll up your sleeves to stand out here. 

18. Sales agency

Several businesses struggle with closing their leads.

And they may be willing to pay reasonably for this service. Consider this business if this is something you can easily pull off. It’s financially rewarding and the competition is low, especially for high-ticket closers.

Also, you don’t need an office space for this, you can run the business remotely.

19. Video editing

The demand for video editors is encouraging.

So, you might not need to struggle much to make a living in this niche, especially if you have a solid portfolio and sound customer referral strategy. Fiverr and Upwork remain the best place to begin your job hunt. But we recommend exploring options outside these channels to improve your chances.

You can approach businesses, music studios, and social media content creators with offers to edit their videos. However, ensure to get any of these video editing training from Udemy before taking the step. 

20. Voiceover services

Ideal if you wish to explore a career as a voice-over artist.

This service is financially rewarding, especially for those with competitively priced offerings. Use Fiverr and Upwork to find gigs. Also, you could benefit from having a website. It lets you negotiate your rate and handle your marketing and branding.  

21. Translation services

Consider this option if you write and speak more than one language.

Use Fiverr and Upwork alongside translation service marketplaces like Language Marketplace, LocHub, and Localistar to find people looking for this service. Also, create your website to reach more people.

22. Graphic designing

Graphic design is a huge market worth about $45 billion.

The United States alone accounts for nearly 30 percent, making it one of the largest markets for graphic designers in the world. These guys make an average of $28.83 hourly, over $20 more than the federally mandated minimum wage in the U.S.

23. Vlogging

You’d need to invest in a vlogging kit to start this business, which could be substantial.

However, YouTube, the most popular vlogging platform, has over 2.1 billion monthly users, signaling huge opportunities for vloggers. Also, Google is not greedy with its ad revenue-sharing formula. They give up to 68 percent of the revenue, so you are sure to reap from this investment and build a thriving career.

We highly recommend this Udemy course for aspiring YouTubers. Over 178,700 students have enrolled in this course, which is a testament to its quality and value. 

24. Media buying

Despite the social media revolution, traditional advertising channels such as billboards, TV, and radio commercials have remained resilient.

For instance, the global billboard and outdoor advertising market is projected to reach nearly $68 billion in 2023, up from $65.45 billion the previous year. Also, the global TV and radio advertising market grew from $407.41 billion to $431.1 billion within the same period.

You can make a living from this as a media buyer. It involves analyzing target demographics, developing media buying strategies, negotiating rates with media outlets, monitoring performance, and optimizing budget to maximize brand exposure and reach.

25. PPC services

Businesses will spend over $65 billion in 2023 advertising on Facebook alone. 

This is huge. And when you factor in ad spending for other platforms like Google, Twitter, and Pinterest, then you’ll have a clearer picture of how much people are willing to put into PPC to promote their brands.

And most of these businesses can’t do this themselves and are often willing to hire an expert to help them maximize their budget. You can position yourself as such to make a living from PPC.

This career path can be very profitable if you can deliver a pay-per-click (PPC) campaign that achieves outstanding results.

And this all-in-one Udemy course is just right for you.

26. Customer review services

It is possible to build a monthly agency that generates over four figures in revenue by providing quality customer reviews and star-rating services to businesses. Many people are willing to pay a premium for this service, and the competition is relatively low. 

Therefore, moving into this market now can give you a significant first-mover advantage.

27. Customer survey services

Helping businesses run customer surveys could be financially rewarding. 

A lot of brands would want to know more about their customers, their challenges using the products, and the areas they think the product needs improvement. You can make a living providing these insights for businesses. However, you’ll need a solid proposal to get their buy-in.

And the good thing is this is another low-competition niche.

28. Business plan writing

The average professional business plan writer or consultant earns between $2,000 and $25,000 per project. This can be a very lucrative career, as it allows you to work remotely and avoid overhead costs. 

Fiverr and Upwork are great places to start looking for clients, but it is important to also have your website to establish your brand and market your services.

29. Competitive intelligence

It’s always hard for businesses to sit and watch competitors taking away most of the customers and putting out impressive sales numbers. You can build a good business by providing them insights into what these people do behind the scenes to stay ahead of them.

These could be the keywords they are targeting on Google, where they get their backlinks, their ad targeting audience, and their marketing strategies.

Take any of these competitive intelligence courses to master the art.

30. Video animation

The global animation market was $394.6 billion in 2022. 

Analysts expect this number to grow to $528.8 billion by 2023. So, animators have a promising future. A solid portfolio is one of the keys to making it big in this niche. And you can begin by listing your service on Fiverr and Upwork. Also, have your website boost your reach.

31. Influencer marketing

Influencer marketing has grown into a $21.1 billion industry. 

Also, in a survey, 82 percent of respondents plan to have a dedicated influencer marketing budget, while sixty-seven hope to increase their budgets within the next 12 months.

You can start this business if you have a large social media following and can influence your audience for a brand. People in this field earn between $195 and over $1,800 per post on Instagram, which is substantial to lead a comfortable life.

32. Landscape design

This business involves the planning, re-arranging, and designing of the features of an area of land for aesthetic or practical reasons. 

Landscape designers in the U.S.A. earn $19 to $35 hourly, on average. This option is recommended for those with at least a diploma in Landscape Design and proficiency in computer-aided design. Professional certification courses may also be required to demonstrate credibility and expertise.

33. Product designs

This job is about coming up with new product designs that meet consumers’ needs. 

It also involves creating digital or print drawings. Consider this career path if you can spot opportunities for new products, analyze how a new product meets customers’ expectations, and use 3D modeling software to design products and components.  

We recommend this course for intending product designers.

34. PR services

A lot of businesses will kill to go viral. 

Some of them won’t mind paying your price if you can guarantee them placements on several main stream media outlets. That’s what this business is about. The good thing is it’s easy to start. However, you’d need to know how to write compelling press releases. Or, you can outsource it.

To begin, create a business website with a clear, persuasive value proposition. 

Next, sign up on distribution services, like 24-7 Press Release, it can get your PR to over 5,000 media outlets and about 30,000 journalists. And finally, pitch your services to businesses, marketers, and SEO professionals.

35. eCommerce marketing

eCommerce has seen steady growth over the years. 

However, the competition in this spacing is quite daunting. You can offer to help these brands increase sales, retain existing customers, and drive repeat purchases, while they focus on running the business. You will build a successful career in this field if you can exceed their expectations.

This Udemy course can help you add to whatever you know about eCommerce marketing.

Final thoughts on low-cost online business ideas

Many low-cost online business ideas can be started with little to no money. By following the tips in this blog post, you can increase your chances of success and start making money online.

Here are a few key points to remember:

• Choose a business idea that you are passionate about
• Use our recommended learning resources to improve your knowledge
• Do your research and create a business plan.
• Set up your website or online store.
• Market your business and start selling/

With hard work and dedication, you can achieve success with your online business.

Here are some additional resources that you may find helpful:

• Collect Chat Review: How It Helps Us Convert Web Traffic to Leads
• How We Use Surfer SEO to Rank On Google
• How Marketing Miner Helps Us Plan Data-Driven Marketing
• How to Grow Your Social Media Audience With Sendible
• How Loyalzoo Helps Us Build Loyal Customers

FAQs