Top 10 Businesses you need to consider if you planning to start your own business or invest in Ghana
December 02, 2020TheHourMake1.Open a Bar/Club and Grill Business
Opening a bar and grill business can be fascinating at the same time worthwhile especially if you position your bar and grill business in strategic locations where you can easily attract socialites and people who love night life.
Ghana people always hangout in bars makes it one of those businesses that is in high demand and it is also profitable. Bar and grill business is one of the businesses that an entrepreneur can successfully start in the corner of a busy street without breaking the bank for cash.
2.Car Dealership Business
One thriving business that an aspiring entrepreneur or investor can start in Ghana is car dealership. Operators in the car dealership industry sell and buy both brand new and used cars and they may fall in any of the following niche area; brick and mortar car dealership, online used cars dealership, locally produced car dealership, imported car dealership, luxury car dealership business and multi – brand and multi – maker car dealership.
The automotive industry in Ghana with reference to used cars dealership is indeed flourishing because more and more consumers are becoming aware of the need to cut unnecessary spending as it relates to purchasing cars.
3.Open/Supply Beauty and Cosmetics Products
There are avalanches of beauty products that are seen on the shelves in stores all around Ghana. These products have various uses and they meet the requirements of folks in different ways. It is important to point out that beauty supply business is one the businesses that can’t go out of fashion simply because of the role it plays in the society.
Depending on the scale you want to start, the startup capital for this type of business can be considered to be moderate. As a matter of fact, you can start your own beauty supply store and then grow it big within a short period of time by re-investing your profits back to the business.
4.Construction Company/Real Estate
Though an expensive sector to break into, the real estate business in Ghana is, as is the case in most countries, very lucrative. Following the discovery of oil in the Western part of Ghana, the nucleus of development and industrialization is gradually shifting towards the region. So, you will probably make more money as a real estate investor if you focus on the oil-rich region.
A construction company is yet another thriving business that can be started in Ghana. Starting a construction business is capital intensive simply because of the type of heavy-duty equipment that are required to carry out a construction project and also the cost of managing a large workforce.
Despite the fact that the construction industry requires huge startup capital, the industry is highly profitable especially if you have the expertise and capacity to deliver good quality the jobs. The major clients for construction companies are governments and the private sector.
5. Daycare services
Taxi business will always make you money as people never stop moving around. You are assured to ferry clients from point A to point B throughout the week and even weekends. Thanks to technology, apps like Uber and Bolt have made it easy for one to register as a Taxi driver.
You only need a little capital to buy yourself a car or even get to rent one and you are good to go. The best thing about using these apps is that they can help build your rating as a driver. The higher you are rated, the more people would want to use your vehicle.
7.Setup a Retirement Home and Pension Plan Firm
There is a very large market for retirement and pension plan firms in Ghana due to the fact that employees and business owners both from the private sector and the public sector will one day retire and they would need a retirement plan to fall to.
The Retirement and Pension Plans industry is made up of private and public pension funds that provide retirement saving and income benefits. Plans are based on defined benefit and exclude defined contribution. Revenue in this industry refers to total contributions plus net investment income or losses, while establishments refer to the number of funds.
8. Hosting/Event planning
9.Start Hair Extension Production Factory
It is a known fact that hair extensions and similar products are used in all parts of Ghana and of course those that are in the business of producing these products, are known to generate sales year in year out if the business is well – managed.
As a matter of fact, economic downturn hardly affects the usage of hair extensions and similar products simply because it is a commodity that plays a major role in the beauty world. This is no wonder the production of hair extensions et al have continued to soar high.
10.Setup Medical Hospital/Clinic Company
Another highly thriving business that can be started in Ghana especially if you are a medical doctor is a medical clinic/hospital. Medical clinic or hospital provide surgical and nonsurgical diagnostic and medical treatment to inpatients with medical conditions.
In general, hospitals maintain inpatient beds and usually provide other services such as outpatient services, operating room services and pharmacy services. There is indeed a very large market for hospital (healthcare service) providers in Ghana.
