- Jan 15, 2018
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16 Businesses to Start in Nigeria with 10k, 20k, 30k, 40k, 50k Naira
On this article I will show you a list of lucrative businesses you can start in Nigeria with less than ₦50,000 and make reasonable amount of money from it if done properly.
Based on my recent research, this businesses are the profitable business one can venture into with the above mentioned capital and expect good income from it.
Nigeria is a well strong economical country, just that it’s not been well manage by our government, but still people are becoming millionaires every day from their personal businesses. Many millionaires in Nigeria today started with small amount of money as beginners and today they have become the big names to be mentioned all over Africa when it comes to business.
You can also startup something now and become a great business man or woman tomorrow, remember a journey of a thousand miles they say begins from a step.
I find personal business more comfortable and profitable, I don’t really know why but I just like business and being self-employed. Some Nigerians are so scared of own business but the fact remain that my kind of people who want to setup something for their selves are more than those who want to work under someone till their old age. So if you are someone like me who love having his/her own business then this article is for you, just read on carefully as i show you some businesses you can start in Nigeria with as low as ₦10,000, ₦20,000 , ₦30,000 , ₦40,000.
The current situation of the country has prompt many Nigerians to start their own business. Many people have wondered if one can really start up a business in Nigeria with such amount of money? The answer is YES you can. But my question is what can you do?.
Yes it has a lot to do with what you can do and how determine you can be, some people will finish reading this post and still can’t find any business they can start, so it all depend on what one can do to make it in life.
Profitable Businesses You Can Start With 10k 20k 30k 40k In Nigeria
1. Selling of bottled drink or bottled water:
selling of bottle drinks and water is a very lucrative business, because it's every day consumption product, if you are in a very populated state or cities like Lagos then you can consider this business. You can start this business with just ₦10,000 or less.
Requirements : get a space in a busy area like commercial bus terminal, buy a big cooler, an umbrella, iced block, a small signboard to write buy minerals and cold water here. You can even include recharge card sales to it, the ₦10,000 is sure of covering both, the bottled drink and water will given to you on credit.
2. Popcorn Production Business
People buy snacks ever now and then, and popcorn is one of the most selling snacks, because people eat it in their home, along the road, in their shops, vehicle and even in the cinemas. Staring popcorn business doesn’t required a shop to get started, in most cases it only required an exposed environment. Popcorn business has no gender discrimination and if you get the right tools for popcorn, the business is totally stress free, also you can be making good amount of money daily if you are in a busy location.
Requirements : Buy a popcorn machine, Corn, Butter, Groundnut oil, Sugar, Salt, Flavor nylon, Powdered milk, a busy road, commercial bus terminal or market.
You don’t need to rent a shop, you can partner with someone in his/her shop since you won’t be disturbing them or you can get an umbrella, clean up any free space in a busy area and start your business. In some cases you may be required to pay some token amount to the local government council to start your business in some area. It will not be more than ₦2,000.
A small popcorn machine costs ₦8,000 , umbrella costs ₦3,000, a bag of corn ₦5,000
How To Make A Popcorn
Take 3 tablespoons of oil, ½ teaspoon of salt, ½ cup of popping corn, 3 tablespoons of butter melted in a large, heavy-bottomed saucepan, add the oil, salt or sugar and popping corn. Turn the heat to medium, cover the pot with a lid left slightly ajar, and shake once or twice. The corn kernels will begin to pop within a minute or two. Once the popping slows to an almost stop, remove the pot from the heat. Transfer the popcorn to a large serving bowl and drizzle with melted butter, tossing well to combine. Add more butter or salt if preferred, add powdered milk.
You can carry out this as a practical at home before moving in to business, so you can get mastered to it very well.
3. Sales of DVD/CD Business
selling of DVD plate is a very lucrative business in Nigeria, people buy music and movies everyday. If you don’t like Nigeria movies I am sure you like American movies, how about India, Chinese and Philippines movies? This is a money splitting business but many people thought there is no money there.
Do you know how much those movies you buy for ₦150 are been sold to the retailers? In case you don’t know, their wholesales price is ₦25 each in Alaba market.
Now those guys sell these movies for ₦150 to people, definitely making ₦125 on every CD they sale. Let assume he was able to sold to 40 people daily, that is ₦125×40 = ₦5,000 and his capital for this is ₦1,000. This is to say that the person you do buy CD from is making ₦5,000 daily and ₦150,000 monthly. Some people will ask how is it possible for him to sell 40 movies daily? Now let me explain to you how.
Do you know that those movies have season 1 season 2 season 3 even season 11? one particular person can buy from 1 to 5 if it's up to, because no one want to watch half movie, this means one person can spend up to ₦1,250 buying from season 1 to season 5. That same person might see another interesting movie and decide to include it.
Now if the seller is in a very busy place he will have more than 20 customers daily and sell more than 50 CDs daily.
Having a shop or just an open permanent space in a very busy road is very important in this business though you can also hulk it, your customers will always come to you for new interesting movies especially if you are kind to them. This is a very lucrative business and it doesn’t required a huge start up capital, with less than ₦10,000 you can start this business.
4. Downloading Of Music / Games To Phones & Flashing Of Phones Business
Do you have a laptop? If yes, this is the right time to make good use of it. people want to have the latest music audio or video on their phones outside downloading, phones get infected with viruses every day, there is no way a virus infected phone owner would not want to flash the phone in other to work well again, this is where you comes in, you can do phone flashing, music and games downloading, and app downloading also together at the same time and this business doesn’t required a shop.
You can start this right in the front of your house by bringing our your table, chair and your laptop, get two speakers and connect them to your laptop, get a plain board and write ” Download Musics, Games, Bible, Quran, & Flash Your Phone Here”. Just watch how people will be waking you up in the morning with their phones. The business is always moving no mater what location you are because phone are being used every where.
If you have no competitor in you location you can be charging #2,500 for just phone flashing and #500 and more for games, music, bible and quran downloading. This business doesn’t require you to buy or resell anything, you are just making the money to yourself without buying any thing. If you don’t have a laptop then you can get one from our warehouse for as low as 20k , our warehouse is located at W3-09 Nigerian Army Shopping Arena, Bolade Bus Stop, Oshodi, Lagos State.
5. Selling Of Mobile Phones.
People buy phone every day and will still buy tomorrow and will continue to buy, With #50,000 you can start phone business in Lagos. There are Uk used untested android and blackberry phones you can buy at Ladipo market, Mushin, Lagos State at the rate of #500 each.
When you get home buy the battery yourself because they don’t come with good batteries, and test all of them, it will surprise you that they are all going to work. I bought samsung galaxy s5 at #500 and am still enjoying it till today, a lot of people are begin me to sell it to them for 30k but I like the phone and don’t want to sell it. I also bought techno pad g9 which I use to update some time.
ALSO READ :- 5 COOL TIPS FOR BUYING ANDROID TABLETS FOR RESALE.
You can start this business right from the front of you house or at any busy road or even busy railway if you are in Lagos. Just get a table and a carton to arrange them on just as those guy at Ikeja does, and you can start your business, sell them for any amount you wish, but I advice you sell them at a cheap price also, so you can sell them quickly.
Those guys along the road in computer village sell their as untested also at the rate of 1,500 Naira, just for them to sell faster. You can also make yours cheap so you can sell faster in no mater your location but some could worth very good amount of money even more than 20k, so it better you sell according to their worth.
6. Phone Accessories Business
Phone accessories are phone stuffs like phone chargers, air pies, USB drive, memory card etc.
people have issues with their phone accessories every day mostly chargers. This business is very lucrative if you are in a busy location. starting this business is not costly, you can start this business with 20,000 naira. You must have bought charger or ear pies before, this is to say people are buying it always due improper making of chargers this days, people run into one problem or the other with their chargers, and required them to get new, because they can’t throw their phone away.
If you are ready for this business you can partner in shop with any body that sell phones, or even if you are in Lagos and close to computer village you can take them to any free space and arrange your phone accessories, there are millions of people going to computer village every days.
7. FastFood Business
I know you eat, and you know I also eat. But do you know it not all the time we feel like cooking or even have the time to? Even if you prepare your breakfast by yourself, how about launch? will you go with your cooking stuffs to the office? This is why restaurant and fast food joints will never runs down. You can set up a mini restaurant with 20k to 50k and start making money from it. You can even deliver to companies at the break time in saving them the stress and time going out to look for food by bringing it to them at the office, they will so much appreciate you while you make your money.
8. Dry Cleaning Business
For me, I don’t like giving dry cleaners my cloths till the day I bought ADAGBA, oh my my, when I put it inside the water, I didn’t know where to start the washing from, I was confuse about it and just went to dry it, I thought I have escape the problem till I wanted to iron it, mehn it was not a good experience at all because I ended up running with it to the nearest dry cleaner. when I get there I was having in mind that the dry cleaner will iron it for me so I go with it, to my surprise dry cleaner told me to come back next week for it that they have a lot of work at hand, that is how I open mouth but do I have any other choice? No.
Just last month they bought two buses from Cotonou, and now delivering cloths to their clients, how amazing.
You can start this business right from your home with small capital like 50k. If you don’t have money then use you hand for the washing and iron them, I am sure you have a pressing iron already. If you have money to invest, then you can get a washing machine and start doing it right in your home till you are able to raise cash for store rent.
9. Fish Fingerlings Production Business
Have you seen catfish before? the baby of catfish is called fingerlings. If you are a person that like agriculture such as farming, then you can venture into this business as it very lucrative but it required some skills. There are places to acquire the skill in most cases it cost you nothing. The process of producing fingerlings is easy, the only important thing is getting buyers ready before production.
This business is lucrative, you can make up to 50,000 Naira in your first production that spend just 4,000 Naira on. fingerlings farming is very lucrative.
10. Recharge Card Distribution Business
Even without money you can start this business if you have a bulk seller that trust you. This business is the act of buying and distributing recharge cards from producers to retailers, you are the middle man here. You can start this business with 50k if you don’t have a recharge card producer that can give you to supply and pay back after supply. You will need a bicycle for movement in other to be saving transportation cost.
11. Shawama/Barbecue Business
This is another business you can start with small amount and be making some cool cash daily, shawama is consumed daily. Some people like eating barbecue or shawama while drinking in beer parlor and also like buying for their family. The right place for this business is a front of beer parlor, or club.
You can start shawama or barbecue business with as low as 20k.
12. Live Stock Poultry Business
Agriculture product are expensive in Nigeria because business men don’t face it. You can do poultry farming right in your backyard. You can buy a big cage that can contain up to 10 chickens, and in just 5 months you can start selling them for 3,000 naira each specially in season of celebration. with 30000 you can start this business comfortably and there is no too much stress on it.
13. Mini Importation Business
Nigeria depend on importation, it is a shucking thing that Nigeria import matches and tooth picks, but we can’t do without them, so since we are not ready to produce them we have to keep importing this stuffs. There are so many items out there to import that will interest Nigerians. On interview with a Nigerian importer, he stated that importation business is lucrative and every Nigerian who know how to go about it is sure of being a millionaire in nearest future.
According to him, he noted that importation business can be started with #20,000 to #50,000 and be sure of making #150,000 monthly, if importing the right products. You can start importation business while you are in Nigeria, Alaba International Market is the answer, go on alibaba and search for a cheap item of $2 – $3 and import 10 pies of it. Hiding camera,s fancy phone cases, Bluetooth speakers and some other stuff like this are best for mini importation. You can meet with retailers to supply them in wholesale price when they arrived, or sell them online on olx, jumia, konga or jiji.
14. Plantain Chips Business
This is what I enjoy eating mostly when I am travelling, people eat this every day, it a chips that is commonly every where.You can start this business as a company by packaging it in advance way and putting label on it just as the once you see in Lagos. If you are doing it the right way you will get retailers coming to buy from you every day to resell. You can start producing your own and sell to those guys selling along express and people selling in shop. You can start this business with 50k
15. Iced Block Production Business
Nigeria electricity condition is getting worst every day and people need cold drinks and water, you can be of help and make money with this. Iike you already have a freezer you can start producing iced block and sell to people who are selling drinks and water. The only important thing this business requires is a freezer and Better generator with water.
16. Production Of Candle Business
I don’t know more about this but my research shows it a lucrative business that has no stress, and with 50k you can start this business comfortably. With poor power supply in the country, there is no doubt that production of candlestick is still a money-spinner. A sizable group of Nigerians rely solely on candle to battle the erratic power supply. With #10,000 you can have a candle mould, which produces 16 candle sticks at a time and go about 50 times a day translating into 800 per day. This is a situation when you are starting with #20,000 to #25,000.
According to my recent research, to produce 16 pieces of candle does not take more than 10 minutes, all you need to do melt the wax, put in your mould, in 5 minutes after, put in another wax, which you must have melted, while the previous one congeals and you go on and on.
The requirements to start this business are Wax #1,000, mold cost #30,000, Thread #1,000, Packaging Nylons #1,500, heat source #600, Bowl, Ceiling Machine #2,000 and logistics.
This are the profitable business to start with 10,000 – 50,000 Naira in Nigeria, feel free to leave your question or request with the comment box.