Profitable businesses in Ghana.
First off, We welcome everyone to today’s post. Today, we look at the trendiest top 10 most profitable businesses in Ghana.
The good news about these profit ideas is that whichever one you decide to try will make you 10 times richer irrespective of the funds invested.
Our candid advice to a lot of Ghanaian investors and entrepreneurs is that they should carry out proper quality business research before they invest their capital into any kind of business. This will help them invest wisely.
A quality business research will also arm you with the right type of knowledge that allows you make effective plans to achieve maximum success.
By the time you are done reading this wonderful guide, you will have learnt ways by which you can also join the train of setting up a business in Ghana while still enjoying its great benefits.
Some of its offers include eradication and reduction of the poverty rate, helps to make revenue for you, positive contribution to the growth of the economic growth of the country and humanity, meeting the needs of diverse people, and providing employment to the masses.
10 MOST PROFITABLE BUSINESSES IN GHANA
Do you want to quit your present job?
Are you a new graduate who is looking for smart business ideas to jumpstart your passive cash flow?
Are you looking for a good side hustle? Or Are you a potential investor?
Not to worry, you will find this article very useful because it highlights and gives you a proper business revelation on the most profitable businesses, investments in Ghana you can start right away.
The hottest types of investment with huge ROI (return of investment) are:
1. OPENING EATERIES AND RESTAURANT BUSINESS
Starting and running restaurant and eateries is one of the hottest profitable businesses in Ghana. Man will always need food to survive.
Busy schedules and demanding jobs now make preparing your own meals almost impossible. This has led to an increase in high demand for food every day.
With the right business plan , positive and right skill coupled with proper management, you can be more than sure of making millions from owning or running an eatery. There are different categories of eateries in Ghana. They include:
Fine dining restaurants
mobile food vendors,
Roadside food vendors popularly known as bukas and Restaurants.
You need to carry out research to discover which one of these you can afford to invest in and then go ahead to invest in it without fear. All kinds of eateries are very lucrative as far as you do the best management practices.
2. RUNNING AN HOSPITALITY AND HOTEL BUSINESS
Investing in hospitality and hotel business is a capital intensive business but if properly managed will yield profits in huge numbers that surpasses initial cost of investments.
Hotels can generate revenue through varieties of ways like rentals of hall for events; providing catering service alongside hall renting for different events, costs of suites and rooms, and from sale of liquor and cigarette amongst many others.
The best recipe for succeeding in hotel business is cleanliness, affordable services, good management good customer relation and proper monitoring.
3. REAL ESTATE TRADING
Owning properties like lands and houses is a sure path to wealth in all parts of the world. It was and is still is one of the convenient, smartest and reliable forms of investment.
Because properties grow in appreciation of value every day in Ghana.
If by today, you purchase a piece of land or building and decide to sell it tomorrow, you are likely to make two times its original cost and even if you decide to sell later, you will be selling at a profit rate of over two hundred per cent.
Every new and old investor is often encouraged to buy properties, because they can never depreciate in value.
Real estate remains one of the most profitable business ideas in all parts of Ghana.
4. OWNING OR RUNNING PRIVATE SCHOOLS
The poor management of government owned schools in the federal republic of Ghana has encouraged the fast rise of countless private schools at levels of education.
Parents and guardians generally have a “thing” for privately owned schools because of the evidence of decadence of morals, good teaching delivery and government negligence of majority of its schools.
Owning or running a private school requires you possess a lot of professionalism and expertise as the school foundation must be one that meets good educational standards that are of high quality and still meet the expectations of parents who pay so much in their bid to get their children educated.
Private schools that are runned by individuals with passion will yield high returns on investment for its owners and unless the federal government of Ghana urgently tends to the poor state of facilities of education in Ghana, a lot of private schools owners will forever be in business.
5. RUNNING AN ECOMMERCE OR ONLINE STORE
We live in the 21 century; a period where there is a huge development of technology. The internet has made a lot of young and old Ghanaians millionaires (especially through blogging). We have seen online shopping malls like Jumia.com, Konga.com, PayPorte.com, jiji.ng rise and prevailed against all odds.
Many of these sites are still surprisingly in business.
E-commerce is also one of the most profitable businesses in Ghana.
We have heard and seen a lot of people make big bucks from building and running their own blogs and other freelancing sites such as fiver.com.
In fact the richest blogger in Africa named Linda ifeoma ikeji is a Nigerian.
The internet has also recorded Ghanaians doing digital marketing and making good money online. A good platform with huge SEO will fetch you big money that will slowly turn your blog or website into an empire.
6. MEDIA AND ENTERTAINMENT BUSINESS
It is not new that Ghana has been and is still the home of Africa entertainment.
The biggest and trendiest artist, television and on-air personalities as well as a good number of legendary film makers in Africa are actually Ghanaians.
This industry has paved way for the creation of employment opportunities and has generated so much profit for its starters.
One can invest hugely in the music or film industry by building radio stations, studios, TV stations and music or film academies.
7. TRY OUT EXPORTATION BUSINESS
A lot of consumers still people prefer to buy “fairly used items” that are genuine than most “Brand new items” that are totally fake. This has enlarged the huge market potential for second hand goods.
Vehicle spare parts that are second hand have a large market in Ghana.
But it would be wise to decide the kind of products you want to sell before investing in fairly used products.
The available options include phones, laptops, gadgets, clothes, shoes, other electrical devices and car spare parts.
We recommend Investors to carry out deep market research with feasibility studies, plan carefully and consistently work smart and hard to achieve good ROI (return on their investments). Importation is one of the most profitable businesses in Ghana.
8. AGRICULTURAL BUSINESS
Agriculture is a virgin opportunity, one of the most profitable businesses in agribusiness.
Ghanaians in their craze for “white collar jobs” have abandoned agriculture for far too long, with many heavily investing their hard earned cash on the oil and gas sector.
This leaves a lot of investors to simply invest their money on oil.
The result of this is an undeveloped country looking up to these for progress and development.
This is the major reason why many are still lost even in a nation blessed with rich diverse natural resources.
The farming industry remains the best young profitable business idea one can start in Ghana with little cash and still make huge chunks of money.
Since every new government fails to diversify the economy by investing heavily and boosting the agricultural sector, new and old private investors are encouraged to plunge into this gold mine.
The higher number of agricultural products like chicken , fish and rice are imported from other countries because the constant production and supply of these products by local farmers are insufficient.
As a smart investor, you can diversify your investment on other branches of agriculture that guarantee maximum profits.
Some other aspects of agric in Ghana to invest include: poultry farming which attracts lots of investors because of its high profitability; rice and cassava farming (most consumed staple food) in the country; snail farming, fishery, piggery and farming cattle’s..
9. OIL AND GAS INVESTMENT
It would interest you to know that our dear country Ghana is rated as one of the biggest producers of oil in Africa as a continent.
This has provided and will continue to be one of the most lucrative business opportunities for our government and entrepreneurs alike.
Refining, producing and selling petroleum products can be quite capital intensive but it is a very lucrative business that has made a lot of serious entrepreneurs’ millionaires in Ghana today.
No money invested in this business is a waste. You can invest by distributing kerosene, diesel, to wholesalers or decide to own one, two, three or more petrol filing stations.
This market is a hot niche amongst the top 10 most profitable businesses in Ghana.
10. TRANSPORT BUSINESS
Transporting people and practicing haulage has been in existence for a very long period of time.
Today, the most common type of transportation evident in Ghana is the road transportation. Many individuals need to move around to tend to their respective businesses.
There can be no trade without people moving about as money and other primary things are needed to sustain man.
Road transportation is convenient to a lot of people because it is readily available, flexible and cheap. When we talk about profitable businesses, we talk about transportation.
To rake in millions as an investor, you can:
Decide to invest in intra city or inter city transportation by road in cities like Kumasi, Accra, transporting residents from one part of the city to another can make you a lot of money on a daily basis because of the ever increasing population.
Transport traders with their goods and services from one part of the country to another.
The listed above are the 10 Most Profitable Businesses And Investment Opportunities In Ghana one can Do, You have decide for yourself…