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What Business Can I Start With 50k In Nigeria

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What Business Can I Start With 50k In Nigeria

There are many people who want to start their own business, but they’re afraid to start because they don’t have enough money. This article is written to inform you of the several profitable businesses you can start with little capital.

We’ve spent a lot of time studying business trends in Nigeria to give you a comprehensive list of businesses that require little money to start for as low as #50,000.

There are three fundamental principles guiding the businesses we share below are

  • The first is that the cost of acquiring a customer is low, which means that growth is fast, and it can be sustained by making frequent small sales.
  • The second is that the cost of servicing each customer is also small, since in most cases you’re selling something that’s quite affordable. 
  • The third is that it’s easy to get started because there are no large upfront costs.

Business you can start with 50k?

  1. Noodle Stand
  2. Soap Production
  3. Perfume Oil Stand
  4. Thrift Shop
  5. Popcorn Production
  6. Mini-Importation Business
  7. Catering
  8. Recharge Card Selling
  9. Baking Business
  10. Tutorial Business
  11. Jewellery Business
  12. Dry Cleaning
  13. Fashion Designing Business
  14. Snack Selling
  15. Shawarma/Barbecue Business
  16. Pedicure and Manicure Business
  17. Hair/Barbing Business
  18. Conclusion

Noodles Stand

The noodles stand business is a lucrative business in several parts of Nigeria. The seed capital required for this business is very minimal and there are almost no upfront barriers to entry. To get started, all you need is an ideal location, a cooking stand, a pot, and a gas cooker or kerosene stove. Local, state, and federal laws are light, and there are few regulations.

Soap Production

Soap is a product that everyone uses. In fact, nearly three-quarters of Nigerian households have a bar of soap in every bathroom. Think about the soap we generally use; we buy it, use it as expected and as long as it is safe for us to use, we will continue to make purchases. This means that as a manufacturer, you can enjoy a never-ending stream of customers coming to your store for your product. Soap production is an amazing business idea that can provide income and opportunities for you in Nigeria.

Requirements

 A molding machine

A cutting machine

A trimming machine

Necessary chemicals and substances

Perfume Oil Business

Perfume is one of the few luxury products that people gladly spend money on because if you give people an opportunity to smell fantastic, they’ll pay for it. This is the idea behind the perfume business that some Nigerian entrepreneurs are already trying out. 

The perfume industry is a simple market because it appeals to our senses and emotion, this makes it very good for self-employment. There are lots of suppliers selling all kinds of fragrances, so start by getting in touch with 2 or 3. As you talk with them, you’ll quickly realize which ones know their business and which ones don’t. 

A new entrant into the industry will have a way easier time making money if you can find ways to create awareness around your perfumes.

Thrift Shop

Thrift cloth selling is an industry that has been in existence for a long time. It costs almost nothing to set up a thrift cloth selling business in most parts of Nigeria. Thrift cloth makes for good business ideas because people are always looking for ways to save on what they spend on their clothing. It doesn’t matter the monetary value of the clothing they buy, but more so on how much they can get out of it or how long it will last before they need them replaced.

In Nigeria, there are people that get up to N300, 000 a month from that business. What makes it possible is the rise of social media and Facebook groups.

Popcorn Production

The popcorn business in which you can invest just 50k to start is one of the best business ideas in Nigeria because popcorn is one of the most consumed snacks in Nigeria. It’s tasteful, affordable, and convenient for everyone. 

If you want to sell, you need to be located strategically for the customers coming out of the subway. 

Mini-Importation Business

Selling imported goods directly to consumers is an interesting business in Nigeria. The benefits it offers are enormous, especially when you have little or no money. 

With mini-importation, you can always become an importer of items of your choice especially if you have knowledge of the best places to source the items. Your advantage is that you will not be relying on the stock of any particular brand or on stock from a particular place, you can buy from anywhere in the world. Importation business is one of the most flexible businesses that you can venture into because you are not restricted by set hours or targets to meet.

Catering

Most people will say you need to have a lot of capital to start a catering business, but starting it is possible with very little capital. If you can cook, all you have to do is to leverage your existing network to help you get the word out there about your business because the industry is highly based on referrals. You also do not have to own any cooking equipment, you can always rent them.

Recharge Card Selling

Selling recharge cards is a really good business to start in Nigeria. It’s also very easy to do, however, it’s highly competitive. You can basically recharge any Nigerian network and make money off the difference between the selling price and the markup price. 

Baking Business

The baking business is one of my favorite businesses in Nigeria. If you bake donuts, sell pastries or bread at the right price in the right location, then your pastry profits are guaranteed.

Tutorial Business

Anytime that you can come up with a distinctive and better strategy, you have a potential blockbuster business on your hands. A tutorial business is a business with a very strong competitive advantage because you are selling what you know, which is highly unreplicable.

Jewellery Business

Making jewelry is one of the businesses that are better to start with little capital. The whole process of buying the raw materials, refining them, and making jewelry out of them can be done even in your backyard.

The necklace, bracelet, earrings among others are unique and easy to sell. 

Dry Cleaning

Dry cleaning is a service that is easily available almost everywhere, because most people usually do not have the time or patience to have things dry cleaned, hence this business idea. 

It is a business that is simple to understand, easy to master, highly profitable & rewarding. It involves both fetching and delivery. It involves cleaning, folding, and ironing clothes that customers bring to you for cleaning or just dry cleaning. The business will also involve buying equipment like machines, hangers, bags, etc. You can start with washing manually, then upgrade as you make more profits. The business requires no technical knowledge because the entire process of the business can be understood by anyone who understands how to organize and connect things together.

Fashion Designing Business

Fashion designing is a great business in Nigeria that you can start with a few thousand Naira from home. The major expense in operating the business is the creation and purchase of fabrics and other materials which you can get through your local fabric supplier. 

Some essential tools for a fashion designer include a sketchbook, measuring tape, sharp scissors, a swiss blade, cutting board, 2cm Bordeaux pencils, water-soluble markers, or colored pencils. A lightbox for tracing tables is very important too in order for you to trace out your pattern on the material being used so that, when traced out you can cut with evenness all the way around.

Snack Selling

Snack selling is the act of acquiring ‘competent’ equipment for frying snacks (yam donuts, plantain or potato chips, etc) to sell at schools, workplaces, supermarkets, and even car parks. Snack selling is one sure way of making money in Nigeria without the struggle. To start a snack selling business, you can actually begin with little money depending on what kind of snack you’ve chosen to sell.

Shawarma/Barbecue Business

The shawarma business in Nigeria is a huge one. It is just an amazing opportunity for anyone willing to take the risk. The main challenge you will face when dealing with shawarma is maintaining its quality. You have to keep your meat fresh all the time so that you can ensure top quality when it comes to taste.

Pedicure and Manicure Business

Skincare has now become one of the best business ideas you can start with 50k now. It takes almost no investment. The only thing it needs is some technical knowledge, equipment, and good knowledge of available products you can sell to customers.

Pedicure business is not just for ladies alone, guys can actually do it too, more men are now becoming interested in getting their feet beautified.

You can start with just an internet café, beauty salon, hotel/hostel, conference center, guest house, or just even your house.

Hair/Barbing Business

The barbing salon business is one of the best small business ideas for anyone who wants to start a business with little capital, also it gives you the advantage of giving people employment. The equipment needed for this business can be bought with #50,000, and you can easily master the art of cutting hair. 

Conclusion

You don’t need much money to start a business, but you do need to be persistent, focused, and creative. If you have the right business, the right market, and the right price, you will make money in Nigeria because we have the largest consumer market in Africa.

Lastly, the best business success stories are companies that start with little capital but achieve dramatic growth through positive word-of-mouth effects.

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