Looking for the most profitable business ideas in Ghana? You have come to the right place. With the high rate of unemployment in the country, the best decision you can ever take is to start a business. By doing so, you'd need business ideas by learning from either a mentor or online. In this article, we are going list some of the most lucrative business ideas to start in Ghana.
What are the most profitable business ideas in Ghana? What makes a business profitable? There are businesses to start in Ghana even with no or little capital. However, to start a lucrative business, you will need at least GHC100. Continue reading to discover all the lucrative and profitable business ideas in the country.
What to consider when starting a business in Ghana
Capital
One of the most important things to consider when starting a business is capital and finance. It is almost impossible to start a business without capital. Knowing the cost of starting a business in Ghana should be one of your first priority in Ghana.
Competition
It is also important you know how competitive the business is. You should know your competitors and what they are doing. This will help you to come out with an excellent strategy plan to overcome them.
Location of the business
Location influence customers a lot. Knowing where to locate your business is number one target. For instance, you can't plan to sell pork, and be planning to open the shop around mosque or Muslim community.
Knowledge
Once you have come out with the type of business to start, it is important you have gained the required knowledge and expertise to start that business. This can be done through thorough research.
Technology
Technology should be one of the important things to consider when starting a business in today's world. No matter the type of business it is, technology will come into play.
Whether it is pig farm, sales, or plant and machinery, you would definitely need software to monitor the business.
List of Most Profitable Business Ideas in Ghana
Below is a list of most profitable business ideas to consider in Ghana
- Poultry farming
- Vegetable farming
- Uber/Tricycle driver
- Mobile money agent
- Snail farming
- Barbering Shop
- Food and Drinks
- Drug/Pharmacy Shop
- Phone Accessories
- Make-up artist
- Microfinance
- Real Estate Business
- Fish Farming
- Liquid Soap Production
- Drop Shipping
Poultry farming is number one in our list. It's one of the most lucrative jobs to consider going into. With minimal income, you can acquire land, structures to house the fowls, agro-inputs such as feeds, and other medications, day old chicks and farm helps.
Adequate security, a clean environment and a comfortable lightening system is good for the chicks. Within no time you can make decent income through the animals' products such as meat, eggs and fertilizer.
Vegetable farming refers to the growth of vegetable crops for human consumption. Vegetables consumption is on the rise in the country with the prices increasing daily. Vegetable farming is is a booming business in Ghana. You can make decent money just by growing vegetables for sale.
Most vegetables crops like onions, garden eggs, tomatoes and pepper require no experience, however, a little knowledge in agriculture gives you advantage.
3. Uber/Tricycle driver
In Ghana, you can also earn decent money by working as a Taxi or Tricycle driver (also called Mahama cambu or Aboboya).
You can buy yourself a Taxi with little capital or even rent one. Tricycle is a booming business and can give you decent money. I personally know someone who earns more than ¢100 a day as a Tricycle driver. Thanks to technology, apps like Uber and Bolt have made it easy to register as a Taxi driver in Ghana.
It is no secret that mobile money business is one of the most lucrative jobs to make money in Ghana. Considering working as a mobile money agent is one of the best business ideas in the country.
According to several reports, most mobile money agents make between ¢500 - ¢3,000 per month. This is the average salary of most government staff in the country.
Making decent money as a Mobile money agent depends on your physical location, customers and your starting capital. To start running a mobile money business, all you need is a business certificate, and then apply for the mobile money SIM. It takes less than three months to get the Sim.
You may not like snail, but consider keeping them for business. You will only need a small space to farm snails.
Snail farming is profitable considering their meat and cosmetics use. Snail farming is becoming a popular business in Ghana due to the profit. It doe not require much capital to start. It takes less than 16 months for a snail to mature.
You can also venture into barbering to earn money in Ghana.
You'll need a well-furnished shop and some few skilled workers, and you're good to go.
In Ghana, most barbers charge between ¢5 - ¢20 per each person. This means that you can earn more than ¢150 per day depending on your location.
7. Food and Drinks
We cannot talk about business without mentioning food and drinks. Food and drinks business is one of the most profitable business in Ghana. This can take the form of restaurants and small beverage making business.
Restaurants and catering services are one of the most lucrative business in the world today. You can earn decent income by starting food and drinks business.
To successfully run over-the-counter medicine store or licensed chemical store in Ghana, you have to get the necessary licensing from the Pharmacy Council of Ghana.
You may also be requested to pay a non refundable fee of GH¢500.00 to the Pharmacy Council of Ghana.You'll also need an experienced pharmacist to operate the shop.
Selling phone accessories is best for those interested in retail or wholesale distribution. You can start selling phone accessories such as earphones, batteries, phone covers and chargers.
To do this, you'll need a shop, and a shop attendant. The location of the shop should be closer to a populated area such as the market or car station so as to have enough customers.
It's no secret that make-up is one of the most profitable business ideas in Ghana.Many women want to look good when in public, and therefore there's a high demand for make-up. You can make a living by working as a make-up artist.
Despite the fact that most women do their make-up themselves, some are not experts in this. Here, there are two options, either you invest in someone who is a make-up artist or you start selling the products. Whichever way it is you would still earn money from the business.
The truth is that Microfinance requires a lot of money to start. But once you're able to establish one, you will make decent profit. You can start Microfinance business in the form of "susu collection".
Features of Microfinance business
- The start-up capital is high
- You will need professional finance team to manage your loans portfolios
- Effective debt recovery system will be needed
Real estate investment is another lucrative business to start in Ghana. The business needs a lot of money though.
There are a couple of individuals who have become rich in Ghana as a result of real estate investment.
Another area to consider is liquid soap business. Liquid soap is needed in our various homes especially in the kitchen. In Ghana, almost every household needs liquid soap.
Liquid soap is one the demand in the Ghanaian market. So there will always be profit in the business.
All you have to do is to get some basic training which is available at vocational centres. There are some non-governmental organizations who even train women for free.
Fish is one of the most cooked proteinous food in Ghana. Most Ghanaians love to eat fish. Other even prefer fish to meat.
Fish Farming is one of the lucrative business in Ghana. Fish farming may not require a lot of energy and capital to run as most people think. With just a little space and pond at the back of your garden, you can start with the little capital.
This is another business to consider when planning to start a business in Ghana. Drop Shipping is an e-commerce business where you sell goods that you do not own.
Features of Drop Shipping business
- It is an internet business
- You will need an online store
- You get commission any time you advertise someone's goods
Conclusion
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