By Our Reporter
Do you know that you can start a profitable business with a capital of N200,000 or less? If you don’t know or you think it is not possible to start up a rewarding venture with such an amount, then this article will help to make you understand.
The truth about money is that no matter how small it is, if you invest it appropriately it will yield returns, no matter how small. The problem, however, is finding the right kind of business to invest the money in. The following business ideas are fifty of the many possible ventures that you can start up with N50,000, N100,000, or N200,000.
While this is primarily for persons who have a background in photography, you can also learn the art by getting mentored by a professional. After you must have gained experience, you can then buy your own gadgets and rent a shop to set up your studio
Sales of security gadgets.
With about N200,000 you can set up a shop for selling security gadgets.
Football viewing center.
There is hardly any street in Nigeria that you will not find a viewing center – even in the villages, they are there. This is a simple business to start and operate; moreover, there is always at least one football match per week. To start a viewing center you will need a good land space, cable TV with a subscription, a minimum of two television sets, at least one generator set, and seats.
Dry cleaning and laundry services.
This is another good business that can be set up with N200,000. You will have to rent a shop, get laundry equipment like washing machines and dryers.
Recharge card printing business.
We all know how important airtime is in Nigeria; as such starting a recharge card printing business or even sales of recharge card is a good and simple way of making a reasonable income. For this business, you will need to have access to a computer system, a printer, Internet connectivity, and get registered with a genuine dealer.
Beauty salon business.
If you have hair styling skills or are a manicurist or pedicurist, you can set up a salon. While you can start small by yourself, you will definitely need to employ more hands as the business grows.
One advantage of the catering business is the fact that people will always continue to eat. Moreover, if you site the business in a city, you are bound to have excess orders, especially during the festive periods. You may not necessarily be a caterer yourself; you can hire professionals and put someone in charge.
Tables and chairs rentals.
It is a known fact that almost every weekend in Nigeria, there is at least one kind of occasion or another. From wedding receptions to birthday parties, you name. For such occasions, most require chairs, tables, and canopies/tents to accommodate usually large crowds.
This involves the breeding of livestock for sale. Common examples include poultry farming and fish farming. You can start with as little as N50,000 for poultry farming and about N100,000 to N200,000 for fish farming.
If you are skilled in sewing, you can set up your own tailoring business. You can begin with just one sewing machine and expand as your clientele grows. You’ll also need to rent a shop for this.
Mobile phone sales.
Although this business might seem to be capital intensive, you can begin small. With N200,000 you can buy about 3 smartphones and sell. When you start making good returns you can then rent a shop and go on to stock it with more phones.
Mini importation business.
You can start an importation business with as little as N100,000 or even N50,000. Just go online and search for reputable stores that ship products to Nigeria and place your orders. Examples of such sites are Aliexpress, Amazon, Gearbest, Banggood, and so on.
Ice block production.
We know how terrible electricity is in Nigeria; you don’t need a soothsayer to tell you about it. Starting an ice block production business is a sure way of making profits in the country. To start the business, you need to get a deep freezer, a generating set, and water.
Plantain chips business.
If you are a Nigerian and have done an inter-state travel, you should understand how profitable this business can be. The business is very easy and inexpensive to set up as you can use N50,000 to begin.
Selling fairly used products.
“Secondhand,” “Okirika,” “Tokunbo,” or “Belgium,” selling fairly used products in Nigeria is an easy venture. Moreover, you don’t need to start with millions. You can go to a market where these products are sold in bulk quantities, and start selling along a major road or street.
Food vending business.
Do you know that that “Mama put” you go to eat at every morning makes good morning from her business? With about N50,000 you can get the cooking utensils and foodstuffs needed to start this business. The only other things needed are tables, benches, and a good location, preferably at a busy bus stop or close to a bus park.
People are always building houses, especially in rural but developing areas. You can tap into this wealth-making opportunity by setting up a blocks production plant close to these areas. You can begin in a small way by getting sand, cement, water supply, and a block molder. As your business grows, you can make your own water supply by sinking a borehole and powering it with a generator.
Bead making. Bead making is a lucrative business that is gaining more interest among the female folk. If you don’t have the skill, you can easily learn it, and in a few months’ time you can start up your own.
Ice cream production.
This is a business that can be set up with as little as N50,000 or less. You don’t need to rent a shop for it as you can make the ice cream at home and supply to shops around you.
You can set up a popcorn store close to a school and be assured of a regular income. A popcorn machine (costs about N8,000), corn, and other ingredients are necessary for this business.
If you are an artist or you know an artist, you can make money from artworks. Setting up an art gallery is an inexpensive way of becoming self-employed. Art is highly appreciated in the world, and Nigeria is catching up on that too; so, instead of sketching just for fun, turn it into a money-making venture.
Sale of bottled drinks.
Like the ice block business, selling bottled drinks is also a profitable venture in Nigeria. This business can be started with as little as N10,000.
DVD/VCD sales business.
Have you ever wondered whether those street-side DVD vendors make money or not from their business? You can start up this business if you want and the good thing is that it doesn’t cost much to start in addition to the reasonable returns. Just rent a shop and buy the discs in wholesale quantities from Alaba International Market in Lagos.
Selling phone accessories.
If you don’t have enough money to begin a mobile phone store business, you can go the cheaper way by selling mobile phone accessories. Accessories like earphones, USB cables, chargers, and so on can be gotten with as little as N10,000 to N20,000.
Shawarma is a kind of snack or maybe food that contains a meat filling in a type of bread. You can start a shawarma business with N50,000 or less.
Erm….Yes! While this may not you are looking for, it is a rewarding business nonetheless. Just get a good location and find a place where you can buy the fruits.
With N200,000 you can set up an average provision store. While a good part of the money will go into accommodation, the remaining will be used for purchasing the goods.
Fumigation or pest control business.
This is a relatively young business which means that not so many people are into it. You can start up this business by acquiring the control equipment such as bait guns, foamers, sprayers, and so on.
Nigeria is plagued by plagued by so many ills including erratic power supply. It is no wonder candlesticks continue to be sold in large quantities in the country; you can start up your own candle production business with only N20,000.
Barbing salon. Starting a barbing salon business is not difficult at all. All you need is to get a rented space, a generating set, at least two hair clippers, mirror(s), and chairs. You can hire a skilled barber if you don’t know how to barb.
This business involves branding or printing on products such as clothes. You can start up this business with a minimum of N100,000.
A book publishing business can be set up with N200,000. The necessary things include a printing machine, papers, a rented space, and maybe a graphics designer.
If you’ve been to any Nigerian tertiary institution you’ll understand how highly profitable running a business center can be. Get a shop, printers, computers, a generator, papers, and you are good to go.
Makeup artists in Nigeria are gradually becoming one of the most sought-after professionals in the country. Their services are needed for weddings, movie production, birthdays, and so on. You can start by getting a makeup kit and learning the skill.
Sound equipment rentals.
Like tables and chairs rentals, you can also buy sound equipment such as speakers and amplifiers for rental purposes. This business can be set up with N100,000 or more.
You can begin your own modeling agency with less than N200,000. All you need is just the right marketing strategy.
Video game shop.
Setting up a video game center should not cost more than N200,000 if you want to start small. Game consoles, rented space, TV sets, and generators are the pre-requisites for this business.
Did you know that 50cl of pure raw honey goes for at least N1000? Selling honey is also a lucrative business that doesn’t require much capital.
Most working-class mothers are in search for daycare centers where they can leave their kids for work. Rent a space in a good location and publicize your services to get started.
Cooking gas refilling business. If you live in a neighborhood where the majority of the residents use cooking gas, you can be walking into a goldmine with this business.
Food processing business. With N100,000 you can set up a food processing plant.
Liquid soap production. You can start this business with as little as N20,000. This includes the production of leather footwear and bags.
Solar installation business. Many Nigerians are shifting their attention towards alternate power supplies since the National power grid is ineffective. Going into solar installation and sales is a good business choice.
Clothes selling business. You can begin this business with as little as N50,000. Just go to the market and buy clothes in bulk quantities to sell in your neighborhood.
Food packaging. Food packaging is another easy and cost-effective business to start.
Sachet water production. You can start up your own pure water production plant even in your home. What you need to have includes the packaging machines and sachets, water supply, and a generating set.
Phone charging center. With the erratic supply of electricity in Nigeria, you can set up a phone charging center in your neighborhood to generate income. It doesn’t require so much as a shop, a generator, and extension boxes will be enough.
Cleaning services. You can start up a cleaning business by hiring cleaners and connecting them with clients.