What Business Can I Start With 5K In Nigeria?
What business can I start with 5K in Nigeria as a student that would guarantee daily income is one of the most asked questions by many people who do not have enough capital to start a full fledge business.
Unarguably, 5,000 Naira is a paltry business startup capital but there’re still some businesses you can start with as low as 5K, 10K, 50K, etc. depending on your financial strength and still make an income of about 3,000 Naira daily and above.
Therefore, if you’re looking for what business you can start with 5k in Nigeria as a student that would make daily income, this article is for you.
Without much ado, let’s discuss the cheapest businesses you can start with as little as 5k to 10k in Nigeria, and make daily income even as a student.
Top 20 Businesses You Can Start With 5K In Nigeria
Here is the list of cheapest profitable hot business ideas you can start with little or no capital online or offline and make daily income in Nigeria.
1. House Cleaning Services
This is one of the cheapest businesses you can start with little or no capital in Nigeria and make a decent daily income for yourself.
All you need to start a house cleaning service is to buy house cleaning materials like the mob, bucket, broom, detergents, and other necessary house cleaning equipment.
The next step is to create awareness of your services to your target customers by every possible means available.
As the business progresses, you can now consider renting a shop and make the business more professional by getting a Business name and registering it, getting a uniform, get a business card, and so on.
2. Snail Farming
This is another highly profitable business you can start with as little as 5,000 Naira to 10, 000 and make a decent income from it within a short period of time.
All you need is to set up a conducive place where you would rear the snails and then source for snails and start rearing them.
However, endeavor to firstly source for your potential customers so as not to get stranded when you want to sell them.
Also bear in mind that this business would take a couple of months before you make a profit from it but the profit margin is very overwhelming.
3. Bulk SMS
Bulk SMS is one of the online businesses you can start with 5K or less in Nigeria and make a decent daily income from it.
All you need is to, first of all, write a very compelling business proposal and present it to Institutions and organizations who would likely need Bulk SMS to communicate to their large members from time to time eg, Churches, Schools, business establishments, etc.
Thereafter, you would have to look for cheap online Bulk SMS service providers and create an account with them after which you fund your wallet and start rendering Bulk SMS services to your customers.
Trust me, the profit margin in Bulk SMS business is overwhelming especially if you have a large number of customers.
4. Recharge Card Printing Business
Recharge card printing business is one of the most lucrative and cheapest business anyone can start even as a student with 5,000 Naira to 10,000 Naira capital and make good daily income daily from it.
In today’s world, almost everyone has a mobile phone which creates enough room for massive sales if you start the business.
All you need to start a Recharge Card Printing business is to buy recharge card pins from verified dealers and then buy an A4 paper which you would be using to print the recharge cards.
As you progress in the business, you may then decide to buy a printer and a generator set which you would be using to print the recharge cards from the comfort of your home or shop.
5. Create And Sell Digital Courses (Ebooks)
Creating and selling ebooks is one of the cheapest and most lucrative online businesses to start with little or no capital even as a student in Nigeria.
Fortunately, you can create and sell an ebook on any area of your competence and interest such as diet, fashion, and many more.
All you need is to do in–depth research on your chosen topic and prepare comprehensive, informative, and educative material and package it for sale.
After you are done writing the ebook, you would now have to advertise it to your friends and potential customers using any available and possible means.
You can advertise your ebook organically which doesn’t require money by using your WhatsApp Status, Facebook, or any social media platform and even through the word of mouth.
On the other hand, you may also decide to run paid advertisements on Facebook, Instagram, etc.
6. Become A Private Tutor
If you have a passion for teaching and you’re asking, what business can I start with 5K in Nigeria as a student and decent income, this section is for you.
Most parents are looking for Private Tutors for their kids after school and this is a big business opportunity for you if you love teaching.
All you need is to design and print fliers for your services and distribute them to your target customers and you would definitely get parents who would like you to teach their kids after school various subjects like Mathematics, English, etc.
As the business grows, you can now decide to hire extra hands to help you with the teaching if you can no longer handle the task.
7. Liquid Soap Production Business
You may consider Liquid Soap making if you’re looking for what business you can start with 5K in Nigeria.
Soap is one of the most used ingredients in every household on a daily basis which therefore creates large room for massive sales for liquid soap producers.
The liquid soap produced locally doesn’t require much start–up capital, it is very possible to start this business with just 5000 Naira.
All you need to get started is to learn how to produce this liquid soap from someone and then proceed to get the ingredients and the container you would need for the production.
However, before you start this business it’s recommended that you meet with your neighbors and tell them of your new idea and when you will be starting production.
Tell them you will be supplying them at a low rate from the normal price they use to buy.
If you are making 50 Naira from each soap you sell and you are able to sell 20pcs of soap daily then you will be making 1000 Naira daily, you can also inform some retailers to patronize you.
8. Bead|Jewelry Making
Bead|Jewelry making is another cash cow business you can start with little or no capital in Nigeria. and make daily income from it.
Bead–making business can be started with as little as 5,000 Naira or more.
All you need to get started is to learn how to make these beads and jewelry and then build good a customer.
It’s advisable to establish a good relationship with event planners if you want to start Bead making business because even planners and decorators are always in need of beads for the decoration of event centers.
9. Fruit Salad Business
This is one of the cheapest businesses to start and make daily income in Nigeria.
All you need to start a fruit salad business is to buy different fruits like banana, cucumber, watermelon, and milk then chop thoroughly chop the fruits and mix them with liquid milk, and put them in a disposable container for sale.
People are always patronizing people who prepare fruit salad because of its rich mineral contents.
The profit margin in this business is mouthwatering as you will always make daily income from it.
Students can also do this business as it does not require huge capital to start.
10. Poultry Farming
Poultry farming is one of the cheapest and most profitable businesses to start in Nigeria.
Starting a poultry farm might appear easy but starting it as a business too is something entirely different.
This means that you are not only just a chicken farmer but an entrepreneur as well.
Starting this business you would need to define your target market and the type of chicken you would like to rear.
The chicken industry has two main parts; Layers, where the chickens bred also lay or produce eggs, or Broilers, where chickens are bred mainly for meat.
Generally, poultry farming is a very lucrative and profitable business anyone can start with small capital and scale up as you progress.
Another good part of the poultry business is that it has a wide market irrespective of the type of chicken you wish to rear.
11. Noodles Preparation Business
With as little as 5K capital or more, you can comfortably and profitably start a Noodles preparation business in Nigeria.
All you need to get started is to get the needed equipment and source for customers.
However, you can also be supplying to office workers in your area at their break time.
In a short while, you will have their contact and they will be calling you to bring it for them and you then scale up from there.
With this business model, you can be making a daily income that’s as high as 3,000 Naira daily.
If you read till this point, you must have gotten answers to what business can I start with 5K in Nigeria as a student and make daily income from it.
Interestingly, these businesses discussed above are among the cheapest business anyone can start with little or no capital and earn daily income from them.
Before we go, here is a list of businesses you can start with 5K in Nigeria either online or offline, and make daily income from it as discussed above.
- House Cleaning Services
- Snail Farming
- Bulk SMS
- Recharge Card Printing Business
- Create And Sell Digital Courses (Ebooks)
- Become A Private Tutor
- Liquid Soap Production Business
- Bead|Jewelry Making
- Fruit Salad Business
- Poultry Farming
- Noodles Preparation Business