Whiles some think that being an entrepreneur is for those with capital and hence when the topic of entrepreneurship comes up usually count themselves out. However, entrepreneurship is for everyone who is willing to become one. There are many ways you can raise capital for your business in Ghana which I will be talking in my next article. The most important thing is to have an idea, and Limitless Motivation has helped with 30 different profitable business ideas in Ghana.
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Below are 30 Profitable Business Ideas In Ghana.
1. Mobile Phone and Computer Accessories
Mobile Phone and Computer Accessories: We are currently living in a tech-driven world that the use of mobile phones and computers have become a first-class necessity. with so much advancement in mobile technology, mobile phones are no longer only useful for making and receiving calls but can be used for other purposes, like an office on the go, conferences on the go, distance learning, money transfers and remote working are all possible because of mobile phones and laptops.
These has therefore created a ready market for mobile and computer-related accessories globally and even in Ghana. With a starting capital of GHC10,000, you can start a computer and mobile phone accessory business. Start by obtaining a good location with consistent traffic, then choose a supplier where you would source your products, then you can now market your business using word of mouth and social media to draw in customers and announce your presence in the mobile phone and accessories industry.
2. Mobile Phone and Laptop Repairs
Mobile Phone and Laptop Repairs: Research has revealed that mobile phone and laptop repair business is a very lucrative one because since there is a large number of people using mobile phones and laptops in case they have a technical problem with their gadgets they will surely have to repair them. You have the opportunity to specialize in either software or hardware repairs or even both aspects.
The most important part of this business is to first and foremost obtain the necessary training and skills. There are a lot of online resources and Youtube videos to help you to perfect your craft. Otherwise, if you don’t have the knack for repairing things you can hire a repair technician who will work for you. After settling on your idea, the next thing to do is to set up a workstation or workshop and acquire some of the equipment which you will use to do the repairs. Equipment such as soldering iron, brush, battery tester, screwdrivers, laptop, software applications, and inventory for parts replacements
One advantage of this business is that, it is not too capital intensive, yet profitable if managed well. For example, repairs of products like iPhones, iPods, MacBooks really fetch more money. I remember I had a problem with my MacBook and before they repaired the laptop I was expected to pay about GHC100 for a diagnostic test to find out what the problem was before they could go on with the repairs.
3. Gym Business
Gym Business: The health and fitness industry over the last decade has seen so much growth. With fitness enthusiasts of all ages, races, and gender aiming to maintain a healthy body because of its immense benefits. The fitness message has been well driven home that it is now very normal for an individual or family to have a personal trainer. Resultantly, creating a career and business opportunity for those willing to take advantage of the bodybuilding wave.
Notwithstanding, the fact that the fitness industry is highly competitive and capital intensive, one can still make a good profit if the right strategies are put in place. Some of strategies that will come in handy once you decide to start your gym business is; using the membership by subscription approach, use social media particularly Instagram to generate and maintain customers. With Instagram you must have the mentality that every post you make is to retain an old customer and bring in a new customer. You can build other streams of income with the business apart from membership subscription. Like hosting a fitness event and selling tickets, sell low-cost brand accessories, food supplements, and meal plans, etc.
4. Website Design and Maintenance
Website Design and Maintenance: Our world today is highly tech-driven where “content” is king and for companies to remain in business and out bit their competition they must establish an online presence. Block and brick offices are increasingly becoming obsolete in this 21st century. As such graphic designers, videographers and photographers are some of the most sought-after professionals in this era. Whiles some corporations have their own IT and social media department, others outsource these services. Thus operating a website design and maintenance business in Ghana where most companies outsource this service is a good business. Your company will be in charge of designing the website of its clients and ensuring that its user-friendly, SEO strategies, web hosting and maintenance of the site to ensure that all the information on the page is well displayed.
5. Sports Betting Agency and Football Viewing Centre
Sports Betting Agency and Football Viewing Centre: Sports betting is gradually gaining dominance in the lottery industry as sport particularly football enthusiasts are taking advantage of their love for the game to make some extra cash on the side. Additionally, for the fact that cable TV subscription is expensive, most football lovers are not able to enjoy these sports in the comfort of their homes hence are compelled to patronise viewing centres. Even, the ones that do have cable subscriptions at home prefer to watch from viewing centres because of the fun it is to watch with like-minded people in a very charged atmosphere. These are some of the equipments you would have to acquire in order to start your business; DSTV or any cable TV subscription, high definition 72inches LED TV, high definitions speakers, a spacious room with air conditioning, stand by generator, ample parking space, drinks, and snacks shop.
6. Daycare Business
Daycare Business: Daycare business is also another lucrative business venture you can consider investing in in Ghana. In this 21st century the corporate world is not only a place for men, but women too. We are currently in the era where women have equally become breadwinners of their family and hence the need for then to actively participate in the labor market.
A daycare service allows parents particularly mothers to quickly resume their corporate duties after delivery without worries. Daycare service has become a necessity for most homes that they are compelled to patronise your services. Thus, if you have the love for children and the desire commercialise this hobby, then this business is perfect for you. To start up this kind of business the first thing to do is obtain the appropriate license. There may be a series of requirements like physical space, health and education ,training requirement you will be expected to meet before you can be granted the license.
In Ghana under the children’s Act 560, all daycare centres are expected to register with either the metro, municipal or district assembly social welfare office before operating. After obtaining your license, the next thing to do is to conduct a feasibility study and market research. Look at some of the already existing day care centres in your locality and analyze their services, what are they doing and not doing, and how different is your service going to be from theirs. Thirdly, you may obtain your logistics (eg. Toys, mats, blankets, children utensils, plates, and chairs among others) based on the number of school children you plan to admit. And then decide on whether you are going to hire more staffs, whether you will provide feeding services or not, your opening and closing hours. Last but not the least, you have to ensure you come up with an attractive name and catchy slogan or philosophy. And don’t forget to insure your day care.
7. Dry cleaning and Laundry Business
Dry cleaning and Laundry Business: Because of time constraints, now a days most workers and business owners prefer to have their laundries done for them with the aim of saving time. Laundry and dry cleaning business in Ghana was initially very popular on university campuses, but is currently spreading across to all parts of the country. Starting up a laundry and dry cleaning business is not a daunting task, if you have no idea about laundry you can take some training a minimum of one week should be enough to learn how to wash and iron different fabrics, folding and packaging and record keeping. Usually a client is expected to drop of his\her clothes and then later pick them up after cleaning.
Nevertheless, some laundry businesses also offer delivery and pick-up services. Offering delivery services can also boost up your business and add to your customer base. Unless you plan to operate your laundry and dry cleaning business from home, you would have to obtain a good location for your business. And then the associated equipment and suppliers such as washing machines, washing detergents, standby generator, water and electricity, hangers tags, ironing boards, irons, mini van or motorcycle etc. From this type of business you make money by charging a piece of cloth or in kilos depending on whichever works for you.
8. Car wash business
Car wash business: Car washing bays will always be in demand, and in the case of Ghana due to the presence of many untarred roads car owners are compelled to always wash their cars just by travelling few kilometres, making car-washing business a very profitable venture in Ghana. One advantage about this business is that with little capital you can be able to start operating. The most important thing is to get a good location with high traffic for the business and stable water supply using water tanks or borehole. You can also offer offsite services where some of your workers to go and wash clients cars at their chosen location. Another upside about this business is that you can convert it into a multiple stream of income centre. By selling snacks drinks, and other chewables.
9. Equipment and car services
Equipment and car services: For the fact some times it is economically more rational to rent equipment than own them, many people tend to rent gadgets and others particularly if it’s for a one time usage. Your rental service can range from renting out chairs, canopies, loudspeakers, ladder, to very sophisticated equipment like fork lift, concrete mixer, mowing machine, brick mould and even tractors and cars. It all depends on you start up capital, because some of these equipment are expensive. Better still you can start with low cost equipment and expand to expensive ones with time. The most important thing is to establish a name as a rental agency.
10. Second hand clothing Business
Second hand clothing Business: Second hand clothing business locally known as bend down boutique in Ghana, is another profitable business venture in Ghana. Because of its affordability the average Ghana prefers to buy their clothes from second hand clothing shops than a boutiques. There are varieties of clothes you can specialize in. Either female or male clothes, unisex clothes, baby and children clothes. It all depends on the market availability in the area where you want to set up your business and you start up capital.
11. Driving for Uber
Driving for Uber: Over the past couple of years, uber seems to be dominating the short distance transportation market in Ghana. Some drivers who were formerly operating as taxi drivers switched to become uber drivers because of its profitability and the constant availability of customers. Another advantage of uber is that it allows you to use your private car for commercial gains without any compromise. Some prefer to offer uber services after their day jobs and on weekends whiles other operate on a full time basis. Another option with uber is you can provide your vehicle for the service and not having to drive yourself.
12. Tomatoes Farming
Tomatoes Farming: Research has shown that there is a deficit in local tomatoes supply to the local demand in Ghana. As such, the country imports tomatoes from some of its neigbhouring countries like Burkina Faso, and sometimes from Europe. Whiles this deficit may be as a result of climate conditions, it is still not impossible to cultivate a profitable tomatoes farm. All you need to do is to put in the required work and create the necessary weather conditions needed for the crop to yield. Thanks to the advancement in agricultural technology such as green house farming that, any form of climatic conditions can be created. The following are the basic steps you need to take in other to start a tomatoes business; 1) Obtain cultivable landsite, 2) Prepare the land, 3) Choose the tomatoes seed type you want to plant 4) Planting 5) fertilizer application and weed control 6) Harvest and marketing.
13. Furniture Production
Furniture Production: Another good business opportunity you may want to consider is furniture production. There is always a demand for furniture, being it office chairs or tables, school desks, king or queen size beds, student desks, or household furniture. Either you have the skills and you would like to go into commercial production or you can partner or hire someone to do the production.
14. Home and Office Cleaning Services
Home and Office Cleaning Services: Because of time constraints and busy work schedules corporations and people are more willing to outsources maintenance services and domestic chores like cleaning from outside. Whiles you may want to specialize in providing either domestic or office cleaning services, it is also possible to provide both services. Starting a cleaning agency does not require too much technical knowledge and hence can be done by anyone willing and having a passion for it. You have the liberty to operate on part-time basis or full-time basis, work yourself, or hire others to work for you while you manage them and provide the cleaning equipment and customers.
15. Poultry Farming
Poultry Farming: Poultry farming has remained a profitable business venture for those willing to put in the work and be dedicated to their business. The demand for poultry products in all of its forms has been on the increase in Ghana. Poultry products constitute a major source of protein for many Ghanaian families either in the form of meat or eggs. One because of its affordability and secondly for its taste. If you are interested in making some extra money then poultry farming is one of the options you have. All you need to do is decide on which type of poultry bird you want to invest in, either broilers, layers, or cockerels, then choose your location and you can start your poultry farm business. The advantages of this business is include, less capital is involved to start, the most important thing is start to with the little capital you have over time you can expand the business. It also does not require that much of a space, if managed well you can be certain of high returns in a short time span.
16. Rice Farming
Rice Farming: It is common knowledge that rice is the most consumed staple food in the world, Ghana is no exception. Whiles it’s the favourite food of many Ghanaians the country still imports a significant amount of its rice from other countries. However, the government has recently passed a bill to place a quota on rice importation, leaving an obligatory percentage for local producers to supply. Although, rice production is capital intensive and entails a lot of work, it is also very profitable if done right. To start rice cultivation the first thing to chose is your seed, since there are myriad varieties of rice. Next, you choose a suitable land, best should be a water logged area, thirdly you have to prepare the land and choose your method of plantation. The rest will include fertilization, pest and weed control, and water management until you harvest.
17. Event planning
Event planning: Event planning and MC-ing a program has become a huge business opportunity in Ghana. The success of an event involves a lot of work and can be quite exhaustive hence many people, particularly soon-to-be couples prefer to pay to have them assisted in planning and staging their weddings and other ceremonies. Event planning includes budgeting, site selection, acquiring necessary permits, arranging decor, event security, all geared toward the objective that all attendees to the program have a good time.
18. Travel Consultancy
Travel Consultancy: Travel agency belongs to one of less tapped business agencies in Ghana. If you are someone who enjoys travelling and have travelled a lot, then helping others to have awesome travel experiences is a good business opportunity for you. Whiles flight booking and hotel reservations are mostly the obvious services of a travel agency. Your services would range from flight and hotel booking, honeymoon trips, excursions to sometimes visa acquisition for your clients. The trick to the success of this business is that you would have to offer real value in terms of travel experience that your clients will prefer to book flights and travel services with you other than doing it themselves. An upside to this business is that it is not capital intensive and also inexpensive to run.
18.Pure water/ Sachet Water Production and Distribution
Pure water/ Sachet Water Production and Distribution: Pure water production and distribution is also another profitable business venture in Ghana. There is always ready market for water and with some extra work you can be able to capture your appropriate customer base. As always, start by registering your business, obtaining the appropriate license, selecting a good location, acquiring all the necessary equipment, and hiring your staff if the need be.
Pharmacy: Because of how important and delicate our health is, pharmacy has become one of the most profitable business ventures in the health industry. Are you are trained pharmacist or an entrepreneur with an interest in setting up your own pharmacy? If yes, then Ghana is the place for you make that investment, the private pharmaceutical industry in Ghana has seen so much growth over the past couple of years and there is still room for new pharmacy shops to enter the market given the continuous increase in the country’s population. To begin your pharmaceutical journey in Ghana, the first thing to do is to register your business and obtain the appropriate license. You can then choose your location, acquire all the necessary equipment and decide on your suppliers, either from local suppliers or from foreign suppliers. If the financial burden is too high you can also outsource some funds from the bank by presenting your business proposal to them.
20. Printing Press and Graphic designing
Printing Press and Graphic designing: The demand for business cards, brochures, screen printing t-shirts, and documents among others in commercial quantity is high in Ghana. Hence operating a printing press either from home, a shop or online is a good business opportunity in Ghana. Running a printing and designing firm requires the use of some specialised equipment and software which will depend on the types of printing and designing services you would want to offer. Do your research and understand which services are best in demand and then acquire your equipment accordingly. Locating your printing shop around offices or schools would give you a head start in the business and ensure that you always have customers. You can take advantage of your location to print souvenirs and customised designs for your clients.
21. Start a Private School
Start a Private School: Given that public schools cannot be able to fully exhaust all eligible Ghanaian students, the government has given room for private individuals to set up schools to help cater for the excess demand. Secondly for the fact that the quality of educational training offered in public schools has been deteriorating over the years, parents are resorting to private schools in the quest of providing quality education for their children. This has therefore created a ready and huge market for private school owners in Ghana.
22. Bakery services
Bakery services: Ghanaians are high consumers of baked foods, ranging from baked bread, meat pie, cakes, and other varieties of baked snacks. You can decide to operate a general bakery, where you bake a variety of foods or a specialized bakery that produces only one type of baked food. For example, running a bread or cake bakery, which are equally profitable niches in Ghana. Either you plan to operate the business yourself or hire someone it is very important that you or your workers have the appropriate training and skill for baking. In this type of business taste is king and taste is what would determine whether you will be sold out of your products or not. Ensure you have great recipes for your business and remain creative with your services. Whichever type of bakery you decide to run you would need the following basic materials; oven, mixers, dough proofer, bakeware, refrigerator, racks and baking sheets, flour sifters sinks, trays and wood top work tables.
23. Photography and Vidoegraphy
Photography and Vidoegraphy: In this era of social media and digital marketing, starting a photography and video editing business is a good way to add a second income or main income stream to your bank account. Whiles many have a limited scope of photography to only include wedding photo shoots, taking shots at wedding ceremonies, baby showers and other outdoor ceremonies, photography actually has many other sides to it. Spanning from stock photography, real estate photography, pet photography, glamour pictures, product pictures, food images, to the famous paparazzi. Study the market and decide on the area of your specialization. Also if you have several years of experience under your belt and the necessary equipment you can offer photography training courses and lessons to others for a fee. As a photographer your camera is one of your greatest asset so make sure you invest in the a good and quality camera. You can refer to Youtube videos and other online resources to help you get started. Emmanuel Ohene Kofi and Kobby Blay are some exemplary Ghanaian photographers you can also follow.
24. Metal Scrap Trading
Metal Scrap Trading: Of recent times metal scrap vending and recycling has become a huge business opportunity in Ghana. Although many may consider it as dirty and demeaning, others have built fortunes out of it. Whiles it may look easy to start, scrap business has some twist to it that it is very important to learn the trade before starting. You must be acquainted with the different types of metals, majorly ferrous metals and nonferrous metals. Since each type of mental is priced differently. Ferrous metals contains iron whiles non-ferrous metals do not contain iron. The magnet is there to help you determine which is which, metals that contain iron are ferromagnetic thus they get attracted to magnets the opposite is true for non ferrous metals.
You must also keep track of metal prices, because the there are constantly changing. After learning the trade the next thing to do to set your business in motion is to purchase or rent a vehicle for your operation, tricycles can be a good vehicle option. Then map out your scrap collecting route and dumpsite if the need be. Lastly, market and advertise your new business.
The most important thing is to distinguish yourself from other scrap collectors and recyclers. The fact that you are collecting or gathering scraps doesn’t mean that you cannot look neat, it’s all about adding some class to your business. Nothing stops you from investing in acquiring some overalls and pairs of safety boots, and other protective gears for your operation, thus yourself and your worker, should you hire others to join you in working. Since working with scrap metals is dangerous and can be poisonous for your health.
25. Real Estate
Real Estate business encompasses a whole lot. Whether you build houses and sell them, or rent them, lease or rent an office space, buying properties like houses and lands and reselling them or being a real estate photographer is all part of the real estate business. The only challenge may be that it is capital intensive, however if you take the risk and invest in real estate wisely you will make good profit. Since the business has many aspects to it, it is very import to have clarity on what you actually want to do as a real estate entrepreneur.
26. Computer School and IT training Centre
Computer School and IT training Centre: While having computer skills is a necessity for survival in the corporate world in this 21st century. Not many, particularly, young people are fortunate to have access to a personal computer, hence creating the market for computer schools and IT training centre. In your computer school, you can offer basic training services like typing lessons, Microsoft office package training, to advanced training like coding and computer programming. And whiles setting up a computer school and IT training centre may be capital intensive, nothing stops you from starting small. You can start with 10 or 15 desktop computers and expand as the business grows.
27. Electrical Service and Electrical Supplies
Electrical Service and Electrical Supplies: Whiles the human body runs on oxygen, without which it would be impossible to function. The same way the economy of a country runs on electric power without which it will be impossible to function to its full potential. The electrical industry presents diverse opportunity to entrepreneurs spanning from the wholesale and retail of electrical sockets, switches, plugs, electric wire, air conditioners, to their productions, electrification, electronic appliances repairs, generator assembling, and gaming pc assembling among others. The electrical industry is of the lucrative industries in Ghana, hence if interests you to invest in the electrical industry, you ha a variety of niches to choose from.
Cosmetics: We currently in an era where much attention is given to body image like never before. The demand for different cosmetic products from all races, gender and ages is ever increasing, as a result there has been so much technological advancement and growth in the cosmetic industry. The cosmetic industry is a vast one raging from beauty salons, beauty spa, anti-aging clinics, cosmetic shop, aromatherapy to hair salons. If you have an interest in starting a cosmetic business it is very important to study the market and narrow down on a specific niche.
Either beauty salon and selling of beauty products or (and) anti-aging clinic. It all depends on your interest and your capital. In Ghana, cosmetic shops and beauty salons are the most popular ones. You can decide to do something similar and give a unique tweak to it or something totally new. After settling on your idea the next thing to do is choose a suitable location for your business. And then you can focus on how to get your supplies either from a local firm or from a foreign supplier.
29. Oil and Gas
Oil and Gas: About a decade ago, Ghana discovered oil in commercial quantity and since then has created an opportunity for those willing to invest in the oil and gas sector. The oil and gas industry entails, exploration, extraction, refining transporting to distribution, and marketing of oil products. Depending on your capital and interest you can specialize in any of the above-mentioned niches. Liquified Petroleum Gas (LPG) station\retailing, filling Station, kerosene retailing, petroleum haulage and logistics company. While there is quite some risk involved in investing in the oil and gas industry, it actually very lucrative and worth taking the risk.
30. Hotel and Hostel business
Hotel and Hostel business: Another business opportunity worth investing in is running a hotel or building a student hostel. For the purposes of business travels, holiday vacation, and entertainment among other reasons people turn to use hotel facilities, as one of the most convenient means of accommodation. Likewise, students in search of privacy, comfort, and quality services nowadays prefer private hostel accommodations than university hall accommodations. This has therefore created a ready market for hotel and private hostel investors.
Again there are different types of hotel such as airport hotels, bed and breakfast hotels, business hotels, condo hotels, and casino hotels among others. Depending on where your interest lies you can invest in the hospitality industry and you are sure to make some good profit. Irrespective of the type of hotel you invest in there are some general principles or basic rules that will help guarantee your success. These principles include; ensure to have an efficient working staff, quality service, attending to customers 24\7, quick response and feedback to complaints lastly ensure you maintain a beautiful and serene atmosphere.
It is my desire that you succeed at your businesses, so before I wrap up I will leave you with this. Anyone can start a business, but not everyone succeeds at their businesses. It matters a lot how you sell your product and how well you manage your expenses and revenue.