Underrated Businesses That Generates Stable Income
We all aspire to be an entrepreneur and most importantly be our own boss. But we lack foresight or better still our ideas do not match what we presently have as capital.
To start a business, capital is required, the size now depends on that which we want to venture into. As a low income earners, we can look into starting a business that requires low capital, especially in the space of the so-called underrated businesses.
Our problem is we normally believe such kind of business gives low return, but I will tell you that is just a myth. We will look into five possible underrated businesses but are worthwhile.
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5. Palm Wine
Palm wine business is very lucrative business and also one of the most underrated businesses in Nigeria. Palm wine business may sound so crazy to some people but the truth is that it generate millions of naira on regular basis.
Do it very well and you can become a millionaire in palm wine business in Nigeria. Palm wine tapping in Nigeria especially in Igboland where it is most popular is considered an art. It requires a specialized skill set to pull if off, still, the tappers are not rich simply because they are not doing the palm wine business the right way.
In Nigeria, apart from foreign drinks and other technologically brewed drinks such as beer of various types, there are other drinks that commands respects but none equals palm wine when it comes to value and respect in an occasion or during gathering among friends for a drink.
Palm wine is highly priced and is very scarce, so much that sometimes, a ceremony that are supposed to be carried out with palm wine most times get other wines as a replacement because of the unavailability of the original palm wine. A gallon of unadulterated palm wine is sold for N1,000 in the village and can go for as much as N2,500 in the city. That means 10 gallons a day could fetch you between N10,000 to 25,000 daily depending on where you sold it. Since this is in high demand, you are guaranteed to sell all as soon as they come. In a month you could be making N300,000 to N750,000.