Your ultimate guide to top lucrative business ideas in Ghana: unemployment has now become so popular causing a lot of people to be unemployed. And that is why entrepreneurship become the saving grace in Ghana.
So, you might have been thinking about what to do with your time and money as a student or you have been asking what are the best profitable small business ideas in Ghana you should do to earn money online in Ghana.
Well you are in the right place at the right time because here you will find out about some of the best lucrative business in Ghana that will be suitable for whatever position you find yourself in, and the best part is that some of these businesses are pocket friendly because you can start them with little or no money.
Top lucrative business ideas in Ghana to start in 2021
Here are the list of the best profitable business ideas in Ghana you can start with little or no capital:
Blogging is considered to be one of the, if not the best lucrative business ideas in United States one can get started with little funds and earn huge amounts of cash within a short period of time.
You just have to choose a profitable niche and also where your passion lies to be able to sustain the business. With just a laptop and a good internet connection you can start a blog.
To create a successful blog that generates huge amounts of money, you’ll need a domain name and a self-hosted server like Bluehost. After launching your blog, you can then create and publish your articles.
Real estate business
Investing in real estate is one of the best business ideas in the United States, and according to Robert Kiyosaki, a real estate tycoon, ”the real estate business is the road to take”.
Can you guess why?
Every entrepreneur dreams to retire one day and be financially free. That can only be possible if you build passive numerous income streams like real estate.
These are passive income sources that you can make money from even when you’re asleep.
Barbing salon is a profitable small business ideas in Ghana that can fetch you lots of income when properly handled.
Basically, a barbing salon is a shop or apartment where people visit to have their haircuts or perform other activities such as hair treatment, dying of hair, dreading and other beauty related services.
Barbing saloon business has long been in existence, but many Ghanaian youths don’t have an insight knowledge of how profitable this barbing salon business is.
interestingly, what makes a barbing salon business to stand out amidst other business is that, irrespective of the economy situation, an ideal barber shop will receive a potential customer on a daily basis because human hair grows daily and is in constant need of grooming and maintenance.
Most Barbing salons are run on a small and medium scale, although they can as well be run on a large scale depending on your initial startup capital. How profitable a barbing salon business in Ghana will be and how much you will make as the owner depends on some variables.
These include the location of your barbershop, quality of shop & services, number of hours put into the work, publicity, cost per head for haircuts, among others.
There’s no doubt the salon business is a lucrative business opportunities in Ghana one can start and make money.to startup.
There is a straightforward process that you need to follow in order to start your Dropshipping business:
- The first thing that you need to do is that find a supplier such as Amazon, Flipkart, Snapdeal, etc and tie up with them
- Build up your e-commerce website and prepare a list from what you want to sell from these suppliers
- Promote your website on social media networking sites such as Facebook or Twitter, or other online marketing channels
- Once you receive orders from the customers, place the order with suppliers and ask them to deliver the products to the address of the customer.
Peer-to-peer lending platform
Nowadays people need loans either to sort out unwanted personal issues such as car accidents, health issues etc or to help finance their various businesses which can not be solved by depending on savings cash at hand.
We all knows that going to the bank to seek for loans can be bothersome, not only will you queue in line waiting for your turn, but you also have to provide collateral in the form of a house, land etc before they offer you loans.
Creating a peer-to-peer lending platform or should I say a loan lending platform that can give loans without collateral but with affordable interest rates is one of the, if not the best business ideas in Ghana you can consider starting at the moment.
Tutoring is one of the best small business ideas in Ghana you can think of doing. If you know multiple languages, excelled at a certain subject in school, or are good at explaining concepts in a way that is easy to understand, consider starting a tutoring business in Ghana.
Tutoring here doesn’t just mean giving private classes to school children that are lagging in their studies, it also means teaching people about basic things like the musical instruments, computer knowledge, how to blog , how to do catering and decorations and hairstyling and anything you feel you can teach people.
You can tutor almost anywhere. You can tutor online via video, such as on Zoom. You can go to your clients’ homes or they can come to your home. Or you can meet in a coffee shop or a library.
Photographing has become a fast growing business in Ghana because events and ceremonies occur on a daily basis and people who hold or attend those ceremonies would love to take photos and keep them as memories.
Just because photographing has become a trending business in Ghana doesn’t mean a person who ventures into the business wouldn’t be able to make it, it only takes persistence , hardwork and commitment for a person to succeed, so just know that you will definitely be patronized by people in this lucrative business.
To start a photography business in Ghana is quite simple cause you can get started with just a camera, camera bag, memory card etc. Without owning a studio or other equipment, then, sale your services at weddings, Photoshop, birthdays and other events and grow gradually.
This business is hot trending both in Ghana and in diaspora. Who doesn’t like this line of business, very lucrative business ideas in Ghana you can start with low capital and earn huge amounts of money within a short time.
We depends a lot on transportation in anything we do in other to avoid being late either for work, church, occasion or any other activities. There are tons of transportation line of business you can choose from.
What makes this business lucrative is that over 70% of Ghanaian population depends or make use of these public transport daily between home and work and also between one city and another.
The need for transportation service is extremely high and according to statistics, the total number of registered vehicles is over 5 million in Ghana.
Since Ghana as a country is populated by over 30,000 number of individuals and up to 60% of individuals depends on transports daily, isn’t it economically wise to tap into this profitable business ideas in Ghana?
These are the rules to follow before starting this transportation business in Ghana;
- Decide which line of transportation you would like to begin with
- Obtain your vehicle either through hire-purchase, lease or an outright buy
- Chi your location and the routes that earns quick money
- Grow your business by either driving it yourself or higher a professional driver.
Sewing and Alteration Specialist
If you enjoy sewing, you might like a business specializing in altering or repairing garments. While you don’t need a specific degree or training, you’ll need a certain level of skill to get started with this one.
However, if you’re already great at sewing, an alteration business in Ghana could be a great fit. People will always need clothing hemmed and buttons mended, and you could be the person to do it.
Sewing and alteration It’s a perfect home-based business opportunity in Ghana, designed for those who loves sewing.
If you have a sewing machine and a good iron, you’re halfway there, you can start by offering simple services like those mentioned above and expand your repertoire to dressmaking and design as you build a customer base and demand.
Mobile wallet payment app
Learning how to create a mobile wallet payment app and upload it online via Google play store for people to install and download is one of the best business ideas in Ghana you can start with low capital.
Cash is a huge part of the business transaction in Ghana. People are more comfortable using cash than other payment methods. Until now. The growth of mobile payment solutions is ripe for extreme growth.
A significant portion of the population have smartphones, and rely on them to communicate, do research, and watch entertainment.
This business ideas would require a decent amount of startup capital, however, because this is directed for business in Ghana, there is a wealth of programmers and coders that one would have access to. Making the startup costs lower, and more reasonable.
This business idea in Ghana is not revolutionary, has already been done, but there is high demand for this. Many of the reports show the importance for small businesses to create websites for their stores. With this comes the need for web designers to help them as not all small business owners want to do this themselves.
This startup would be low-cost as you would only need some web designing skills and a computer to execute. Next, you can begin by approaching every local business in your town to see if you can help them or you can create a profile at Fiverr get paid when you offer a service to people.
If there’s one thing people always need, it’s food. That’s why opening a small grocery store can be a profitable small business ideas in Ghana especially if you live in a city with little competition.
Food is one of the basic needs of man. So, with the boom in the economy and increasing spending power, people prefer to shop at those small grocery retail stores, where they are treated to large shopping aisles with products stacked neatly on the shelves instead of going to the supermarket.
Such retail establishments sell food and items that are uncommon or not carried by bigger stores. The products for daily needs like dairy, cereals, pulses, meat, cleaning items, and more are arranged orderly with their price tags and salespeople on their toes.
Gym house or personal training business
Each year, millions of people, including those with obesity levels or those suffering from different illnesses joins gyms to get fit and lose weight. There’s a high demand for gym and fitness centres.
If you’re into some aspect of fitness, opening a gym/fitness centre or starting a personal training business could be a great small business ideas in Ghana.
From general fitness coaching to becoming an instructor, to personal training, to opening your own gym, there are plenty of options in the fitness sphere, depending on where your interests lie. After all, the best business ideas for you will be the ones that play to your strengths.
To be profitable, a gym model typically revolves around several key revenue streams. The most basic is the gym membership does or fees. You can also earn extra money by offering fitness classes, juice bars, tanning salons, renting space to personal trainers.
Digital marketing/advertising agency
Digital marketing is a lucrative business ideas in Ghana one can start with low capital. Nowadays, there’s huge demand for digital marketing services, online marketing, internet advertising…whatever you call it.
The number of businesses that move their operations online is increasing day by day and so does the competition. More competition means more demand for digital marketing services.
What is a digital marketing
Digital marketing is the promotion of brands to connect with potential customers using the internet and other forms of digital communication. This includes not only email, social media, and web-based advertising, but also text and multimedia messages as a marketing channel.
The main work of advertising agency is to create, plan and handle advertisement and promotional requirement of client. Agency needs to arrange placement for the advertisement on a commission basis. Advertisement agency is one of the best business ideas for the beginners in Ghana.
There’s always demand for creative handmade jewelry. I’ve seen not just one, but several people, build a successful jewelry business out of their home. And today there are seemingly unlimited venues for selling your jewelry.
You can sell your jewelry through an online marketplace. Some people get started selling at craft fairs and flea markets. I’ve seen other people sell through jewelry shops.
Jewelry retailers will look for a significant discount to retail, such as 50% or more. Initially merchants may only take your product on consignment – which means they don’t pay you or take ownership until the jewelry actually sells.
Whatever sales approach you take I would recommend you also support it with your own website and marketing efforts, including building an email list and a social media presence. This will help you develop repeat customers, add new customers by word of mouth and build credibility.
Other trending business in Ghana you should consider starting
Mobile phone repair/ accessories/ recharge
Ghana will have nearly 20 million smartphone users by the end of 2022. Further, this figure will grow exponentially as more brands and cheaper variants enter the market.
Consequently, the demand for outlets and persons who offer repairs of mobile phones is expected to increase manifold. You can also sell accessories and credit recharge (airtime) to earn more money.
Website to App Conversion Company
With the rise of the smartphone and higher bandwidths of internet being available, there is growing demand to convert their website or web apps into native mobile applications. This is not an easy process, so this business idea for India would make it easy for the business owners.
If you already have knowledge of coding and how to make apps, this would be a low-cost business ideas As well, with the significant amount of programmers one has access to, it would not be hard to find a partner for this business idea to keep things low cost.
If you are someone who keeps a track of the market and knows what’s happening around with the finance, private equity business is one of the most lucrative business ideas in Ghana.
With growing investors and a wide range of direct funds, investment firms are now a big hit among both equity companies and customers. To execute, you would begin by building a safe secure platform where users can create a profile, upload their money and earn interest on the go.
As a student, you can try cosmetics business because it is also a fast selling and trending business in Ghana and because you are in an environment with a lot of young people it is your best bet.
But going into this business will also require you to go into deep research about the business so that you can acquire more knowledge. Because the business is broad.
There are those who focus on sale of skin care products and there are also those who go into home service pedicure and manicure or even massage. You can
get yourself started in this venture by looking through the internet or YouTube.
Be it any wedding, event, or any formal get together, caterers are in high demand these days. If you have excellent interpersonal skills and you can work under pressure along with managing your staff, a catering business can fetch you a decent amount of money.
However, you need to be experienced as there are many big shots already in this field. For becoming a renowned caterer, you need to be an all-rounder, that is being good in staff management, aware of different serving recipes, different cuisines, and all the trendy culinary that is being liked by people according to the gathering.
Business ideas in Ghana: conclusion
No matter what type of business (online or offline) you would like to start or how much money you have to invest, we are sure that, at least, a few ideas from our list of business ideas in Ghana will match your criteria.
Just remember that the idea alone is not enough. It takes hard work. You have to show passion, persistence, and dedication to overcome all challenges as they arise. If you do, there’s nothing that can stop you from joining the ranks of successful entrepreneurs and business people from all around the world.