Over the weekend, I visited the well-known Commerce Honest Market in Lagos to talk with merchants — and actually, the numbers I heard might make anybody rethink their 9-5 job.
Many of those enterprise house owners are pulling in a lot cash each week, they may simply earn a spot on Forbes’ wealthy record if anybody paid shut consideration.
But, they function quietly behind market stalls, warehouses, and bulk outlets, constructing multi-million naira companies with out the noise.
For many who might not know, the Lagos Commerce Honest Advanced isn’t your common avenue market. It’s a large industrial hub positioned alongside the Lagos-Badagry Expressway, residence to numerous enterprise associations and hundreds of entrepreneurs.
It has grown over time to change into considered one of West Africa’s largest commerce facilities, attracting wholesale and retail patrons from throughout Nigeria and neighboring nations like Ghana, Togo, and Benin.
The complicated is a metropolis by itself — all the pieces you want, from home items to magnificence merchandise, vogue, electronics, auto elements, and even meals objects, is offered right here at extremely reasonably priced costs.
However behind the busy stalls and bustling walkways lies a choose group of companies which have turned bizarre merchandise into money-making machines.
If you happen to’ve ever puzzled what’s actually occurring behind these market gates, listed here are six companies at Commerce Honest Market the place entrepreneurs are quietly cashing out massive time:
1. Jewellery and Equipment
The jewellery commerce is likely one of the most worthwhile ventures at Commerce Honest. Stroll via the market and also you’ll discover shops stacked with costume jewellery, sterling silver, gold-plated equipment, and all the pieces in between.
Merchants import in bulk from China, India, and Dubai, and promote to retailers, on-line distributors, and particular person clients at a revenue margin that may generally hit 80-100%.
Throughout festive intervals and wedding ceremony seasons, many jewellery sellers report tens of millions in weekly gross sales.
2. Cosmetics and Magnificence Merchandise
Magnificence by no means goes out of favor — and the cosmetics sector proves it daily. From skincare merchandise to make-up, perfumes, and sweetness instruments, Commerce Honest is a one-stop vacation spot for magnificence enterprise house owners.
Many merchants right here import instantly from worldwide suppliers, which supplies them an edge in pricing and selection.
A few of the largest cosmetics sellers in Nigeria run their enterprise out of Commerce Honest, supplying magnificence outlets, spas, and on-line distributors nationwide.
3. Hair Extensions and Wigs
The hair enterprise is one other goldmine at Commerce Honest. The demand for human hair extensions, artificial wigs, closures, and frontals is large, and merchants right here have carved out a powerful area of interest supplying high quality hair at wholesale costs.
Many sellers import container a great deal of hair merchandise month-to-month and distribute them throughout the nation. For a few of these merchants, every day gross sales run into tens of millions of naira, particularly once they provide in bulk to salon house owners, hair influencers, and sweetness retailers.
4. Perfumes and Fragrances
One other booming enterprise at Commerce Honest is the fragrance commerce. Merchants promote all the pieces from oil-based Arabian fragrances to designer-inspired scents at wholesale charges.
Many merchants supply their merchandise instantly from Dubai and Egypt, reducing out middlemen and maximizing income.
On a great week, a fragrance seller can promote hundreds of items to clients who come to the market particularly for bulk perfume procuring.
Style is likely one of the oldest and most worthwhile companies in Commerce Honest. Merchants right here import clothes, sneakers, purses, and equipment in massive portions, promoting each wholesale and retail.
The margins are enticing — for instance, a sneaker bought for ₦6,500 in bulk can simply be offered for ₦12,000 or extra.
Many clothes merchants provide boutiques throughout Nigeria, turning over tens of millions in month-to-month gross sales with out counting on social media adverts or influencer advertising and marketing.
6. Tyres and Auto Components
One of many lesser-known money-making companies in Commerce Honest is the tyre and auto elements enterprise. Hidden behind the thrill of vogue and sweetness, tyre sellers run extremely profitable ventures supplying automobile, truck, and bike tyres in bulk.
Many import instantly from China, Turkey, and Europe, promoting to mechanics, transport firms, and retailers throughout the nation.
Some tyre merchants flip over tens of tens of millions month-to-month, because of the fixed demand for auto elements in Nigeria’s rising transportation sector.
If you happen to’re seeking to begin a enterprise or put money into a worthwhile enterprise, this market is proof that wealth could be in-built probably the most sudden locations — all it takes is technique, entry to the appropriate merchandise, and the hustle to make it occur.
