Many Nigerians are finding it difficult to start a lucrative business with a little capital, they tend to see that you must have about a million naira before you can start up a business of your own. If you fall into this category then you are mistaken, there are thousand and one businesses you can start in Nigeria with 50,000 naira and still make a lot of gain from it.
In this blog post, I’d give you the list of businesses you can start with 50K in Nigeria.
List of Businesses That You Can Start With ₦50,000 In Nigeria
The first thing you need before starting a business is determination, the passion you use in running a business will determine how far you will go.
Below are the businesses that doesn’t require more than ₦50,000 as capital.
Selling Of Clothes
This is one of the lucrative business that many people don’t know about, clothing is one of the basic needs of humans hence the need for clothing is unlimited. The clothing business does not require much capital to start with, let’s say you can start a clothing business with just ₦50,000.
With this amount you can buy cheap wears in some major market and in return sell them to your customers for a higher price.
How To Sell
- Monitor and get use to the best and available method that’s in your environment.
Know your target customers and get a shop close to them.
- Nobody will like to buy a low quality clothes hence you have to make sure that the clothes you’re selling off is durable.
Snail Farming Business
Snail farming is another lucrative business you can start in Nigeria.
The cost of rearing snails is very low and will not cost you more than ₦50,000 for a start, all you need is to buy baby-snails, rear them in a good environment, feed them with healthy feed that will enhance their growth. After that, you sell them and earn more than you invested.
In this business, you can decide to rear them in a small, medium or large scale it depends on you. You have to put into consideration the number of people that are into the snail rearing business in your locality before drafting out your strategies on how to make you sales.
Selling Of Beverages
You can start up a beaverage business with a little amount of money, selling of beverages is a business whereby you sell soft drinks such as carbonated drinks (mirinda, pepsi, Coca Cola, fanta), water, coffee, soda etcetera.
Selling of beverages shouldn’t be neglected because it has a high demand.
Most people can’t stay for a whole day without taking some beaverages, so as someone who is thinking of starting a business you need to have that as an option and probably start yours.
Poultry Farm Business
Poultry farming is a very lucrative business in Nigeria, you can start a poultry farm business with just a little amount of money.
Poultry farming is a business that can yield you profit in a little amount of time. The poultry product such as chickens and turkeys are highly consumed in our societies.
70% of people in the world today make use of eggs directly or indirectly on a daily basis. Meals served in hotels, eateries, restaurants, home and bakery have a good amount of poultry products used in it.
I have written a detailed guide on how to start a fish farm business in Nigeria, do well to check it out.
POS is service that enables people to make withdrawal without the stress of going to the bank, you can make fast withdrawal and deposit from the comfort of your environment with a POS.
In recent years, POS has become one of the most lucrative business people can indulge in without breaking the bank. Many people don’t like making transactions in the bank due to the procedures carried out by the bank.
POS is faster and less stressful than Banks, that is why some people prefer POS than banks.
You can generate more cash with that little amount of money in your account by getting a POS machine from any POS distributor of your choice, then you start up your own POS business.
In a POS business, you charge your a customer a certain percentage for every transaction they make. POS business is lucrative and rapidly growing as people carry out transactions daily.
Fish Farm Business
Fishes are consumed all over the world by many individuals.
The need for fishes can never be over emphasizesd, the rate to succeed in fish farming is high, you can purchase fingerlings from a reliable juvenile and rear them in a natural or artificial pond.
In this business it is easy for customers to get to you because the rate of demand is very high and it gives you more time to do other things since it may not necessarily require your full time and it is not time consuming, also it do not have a fixed price so you can sell in any price suitable for you.
I wrote a tutorial on how to start a fish farm business, do well to check it out.
Selling Of Building Materials
Business grow and prosper by ideas irrespective of the amount of capital you have.
Building material business is a good business you can start in Nigeria everybody wants to own a building for him or herself either for business, hospitality, housing etc. For this reason, building material sellers are highly needed and important in our society. You can start by selling some building materials like paints, painting equipments, furnishing tools, shovels etc. All you need before starting this business is to make proper enquiry and survey if the environment you’re planning to start the business is suitable, you need to have a good site, proper understanding and management with capital.
You can start a building material business with as little as ₦50,000. Many people have a wrong notion that you need millions before you can start a building material business.
Building materials are in high demand hence selling your goods and making profit is is easy.
Airtime Printing Business
Many people move from one place to another searching and looking for jobs while there are many ways to make money.
Recharge cards printing business is lucrative and does not require a large amount of time and money before you start. About 70% of people in Nigeria make use of mobile phones and normally make use of airtime on a daily basis, all you need is to be trained and registered, starting this business requires a printer. You can also decide to print in a large-scale so that you’d be able to sell it to other retailers.
Recharge card printing business do not have a season or time in which you can sell.
As a whole seller, each single copy has the profit of ₦10. If you print 500 copies of airtime in a day, after sales, you can be able realize a profit of about ₦5,000.
With time, you can be printing up to 2000 airtime per day then you sell it out to many retailers which can fetch you up to ₦20,000 in a day.
This is one of the most shunned business in hence there is a low competition in the business which will make you stand out easily.
Selling Of Electrical Appliances
Selling of electrical appliances is another untapped business in Nigeria that you can start with ₦50,000.
The need for electrical appliances is endless, we live in a world where electricity has become a necessity in our daily lives hence the tools are in high demand.
As an electrical appliance seller, you can advertise your product to companies, banks and homes. You can enhance it with providing services such as repairing of spoilt electronics.
Laundry And Dry Cleaning Business
I know someone who has gained a lot from this business, you can open a shop and offer laundry and dry cleaning services, this business is lucrative because people many find it difficult to wash and iron their clothes due to their busy day hence the need a laundry man to do their laundries for them. This business only requires a washing machine, the interesting thing is that you don’t really need a shop as you do it from the comfort of your home.
Ice Block Business
The weather in Nigeria is normally cold and some places don’t have access to electricity hence the only way to get chill drinks and water is by purchasing an ice block. The demand for ice block is high as traders who sell in retail to buy it to Kee their drinks chill. Ice blocks has a wide range of sales ranging from homes, shops and even organizations.
Final Thoughts On List Of Businesses You Can Start With 50,000 In Nigeria
There are a lot of business you can start with 50,000 naira in Nigeria, you can choose from the ones stated above or make further research on the one that suits you.