What is a Lucrative Business?
Lucrative refers to an investment or activity that is profitable.
Lucrative Business Ideas In South Africa
Best Lucrative Business Ideas to Start in South Africa:
1. Offer Catering Service
Launching a catering business may be the perfect business idea for you. You can cook from home and cater to other local events. This is a lucrative business idea that you don’t need a huge capital base to start.
2. Start a Palm Oil Storage Business
By storing palm oil and reselling it during the off-peak seasons, you can make a lot of money. Buy palm oil between February and April, when the price of palm kernel drops. Then resell it in July for a profit of 50-60%.
3. Transport Business
Many organizations in Nigeria need transportation but cannot afford to buy vehicles. Buying a bus (or several buses), can make you the go-to transportation service.
Schools, religious organizations, and non-profits could outsource their transportation and logistics to you.
4. Establish a Security Agency
Security is not the sole responsibility of the government. The need for excellent security services in South Africa is on the rise. You can set up an agency, recruit professionals or become a bodyguard. Another option is to import and sell security products.
5. Invest in Property
Property investment takes more upfront capital than some other business ideas in South Africa. But if you have the capital, you should look into purchasing land or property in South Africa.
The returns can be as much as 100%-200% profit when you resell the property. You can also lease office buildings or homes and make a reasonable passive income each month.