There are many long term businesses one can operate in Nigeria and still make a profit. These businesses are mostly concrete and can effectively be a good source of income for the person who is investing. Most of these businesses are related to real estate, investment trading, as well as collecting objects of value. These businesses can be started with as little as 50-100 thousand Naira and can appreciate over time in value, with ROI of more than 200%.
It is true that 2020 and the virus scare changed a lot, but these businesses can stand the test of time. This is because they satisfy and fill some important areas of our lives, and guarantee actual value.
In no particular order, I'll be listing these businesses so as to talk about them in detail. This list is also a matter of personal preference, market value, market size, based on how they are on-demand, and how lucrative they can be. I will also mention that they are however high risk, the high-profit margin is quite often proportionate to the risk. And you can invest in these 3 long term businesses in 2020.
Art Collecting
Art collecting is buying and storing artworks so as to resell when they appreciate in value over time. Although it is mostly for the mega-rich, it is important to know that any average person can get into the businesses by simply investing when it is affordable and progress from there. It is very lucrative and one can start with as low as 50 thousand. Since its long term, it is advisable to make your research especially about the artist and his market value. Like trading currency, it is also advisable to buy when it is affordable and resell when it has increased in price. But a lot of factors could determine this, some you can control, and some you can’t. So it makes it risky, and high yield. However you can purchase an artist’s work today and he will become a global phenomenon tomorrow, relative to his/her reception in the art community.
A little Tip though. Become a friend to the artist, it can help you purchase at a lower rate than from Art stores. You can get lucky within the first five years if one of the artists you purchased their works become big. So it is also advisable to buy from different artists. Furthermore, it is important you buy works that you genuinely like, so it can motivate you to keep it for that long. Don’t just buy from the artist because you think it’s good business. There are many places to buy art from bourgeoning artist like Instagram and exhibitions hosted for galleries for promising young artists. Watch closely and very carefully, you can never get it wrong.
Gold trading
Gold is one of the most valuable precious stones on earth and is being sorted for its multipurpose uses. It is used by central banks to back their fiats, and in the luxury industry for aesthetic purposes among other uses. You can key into these billion dollars industry by buying as little as 100usd. Gold is a tangible asset and easy to store. You can buy Gold from the area where it is a bit affordable and abundant. But beware of fake and fraudsters, so it is advisable to buy from recognizable dealers to be safe. Like buying art, it is risky, but with proper research, you will be safe.
Real Estate.
Investing in real estate is very lucrative and like the above-mentioned businesses can be risky too. But real estate has many facets. I’m interested in the business of purchasing affordable land in a semi-remote area close to development and resell when it is okay too and has probably increased in value. This is the simplest and oldest form of real estate business. That is, buying and selling the land itself. Be very careful to purchase the land from the real owners of the property. Do your research for a lot of scammers are out there looking for who to deceive. If you can get this right, you will surely be making a profit within two years.
Finally, there are many other tangible assets to buy, that guarantees good ROI. These are means to earn and let your money grow over time. It is also for people who have patience. Always Remember, it is Gold, Land, and Art, at the basic level, then you climb.
