By Ejiofor Toochi
Starting a business requires thorough planning, and capital. Another key element is choosing the right location. A well-chosen location helps the business connect with a larger customer base, and in turn, drive profitability.
Ikeja, the ever busy capital of Lagos State, is a good location for entrepreneurs looking to start profitable businesses. It attracts both local and international businesses seeking to tap into the area’s economic potential.
In this article, IkejaBird has compiled some of the most profitable areas in Ikeja to establish a business, and why these locations are ideal for entrepreneurs.
Ikeja GRA (Government Reserved Area)
Ikeja GRA is a high-end neighborhood in Ikeja, originally a residential area for government officials but has evolved to accommodate more commercial ventures. Given the affluent residents, workers, and visitors in Ikeja GRA, businesses that cater to high-income individuals, such as upscale restaurants, lounges, and luxury retail stores, can flourish. The area boasts top hotels like Marriott, Radisson Blu, and Sheraton, as well as renowned restaurants and attractions like the Ikeja Golf Club. By targeting the wealthier population in Ikeja GRA, businesses can enjoy profitability.
Allen Avenue
Allen Avenue is another strategic location for business owners aspiring to achieve profitability. The area accommodates a diverse range of medium and small-scale businesses, ranging from electronic stores to fast-food outlets, nightclubs, banks, supermarkets, fashion retail and beauty parlors, and more. The area is characterized by lots of business activities and caters to day and night economies.
Computer Village
This is the most popular and largest gadget hub located in the heart of Ikeja. It is a magnet for tech enthusiasts and retailers, attracting thousands of customers daily. Many people visit the area for tech services, such as buying and selling, repairs, software installations, and maintenance. What makes the area good for business is that it is visited by people of different income levels, and has a high foot traffic, giving access to potential customers. Starting a business that caters to people’s needs, such as an eatery, will attract tons of customers.
Alausa
Alausa is the seat of the Lagos State Government and houses the state secretariat, making it a prime location for businesses that cater to professionals and government workers. This includes businesses that deal in office supplies, supermarkets, coffee shops, and eateries, to mention a few. The area is known for its structured environment and relative calm compared to busier parts of Ikeja, making it a good spot for service-based businesses.
Airport Road
Airport Road is a great location for business due to its strategic location and proximity to Murtala Muhammed International Airport. The road experiences heavy traffic from both local and international travelers. Businesses that thrive along Airport Road include hospitality services like hotels and guest houses, as many travelers need short-term accommodation near the airport. Additionally, businesses such as restaurants, cafes, car rentals, office spaces will be profitable in these areas.
Maryland
Maryland is a profitable area for business because it combines residential and commercial spaces, attracting middle-to-high-income earners. Maryland Mall, a key landmark, draws significant foot traffic as a popular shopping and entertainment spot. This makes it ideal for retail stores, restaurants, cinemas, and services like fitness centers and co-working spaces. Its central location also ensures easy access for customers, boosting the potential for business growth and profitability.
Awolowo Way
Awolowo Way connects major areas like Opebi, Oregun, Allen, and Toyin Street. It leads to popular spots such as Computer Village and Ikeja City Mall. With a mix of traders, shops, and street hawkers, Awolowo Way is one of Ikeja’s busiest and most vibrant commercial areas, making it a good area for businesses. The road is lined with complexes, shops, and street vendors, offering a wide range of products, from second-hand phones to wigs and cold drinks.
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