Business You Can Start With 50k or less in Nigeria right now! What are those Business?
There are many opportunities revolving around Nigeria. For both the indigenes and foreigners, the country is endowed with various opportunities that can last longer than expected.
Due to the large size of population in the country, any businesses have the ability to survive and successfully win.
It is left for you to identify your interest in respect to the needs of your community while considering your pocket size.
Many people question is what type of businesses cans someone start with a certain amount? Or what can I do with this so amount of money?
So In this regards, we have mentioned business you can start with 50k or even less than 50k in Nigeria.
We have carefully research and analysis in terms of market survey because the current situation of the country has prompt many Nigerians to dive into owning one or two businesses.
So, depending on what you can do or your area of interest to earn you a living, We have sorted out some list of Profitable business you can start with 50k or less in Nigeria.
The list is in no particular order taking into consideration the profit/returns, and also the convenience, flexibility and risk of the businesses.
Profitable Business You Can Start With 50k or Less In Nigeria.
1. Mini Importation Business
Nigeria depend on importation, it 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 Nigeria importer, he stated that importation business is lucrative and every Nigerian who know how to go about it is sure of bee a millionaire in nearest future.
According to him, he noted that importation business can be started with 20000 to 50000 naira and be sure of making 150000 Naira monthly, if importing the right products.
You can start importation business while you are in Nigeria, Alaba is the answer, go on alibaba and search for a cheap item of $2 – $3 and import 10 pies of it.
Business You Can Start With 50k
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.
2. Catfish Farming:
This business is lucrative and poses less stress for you. It is important to understand the underlays of the business and how to care for the catfishes. Starting on a small scale with 50 thousands naira, all you need to get are 2 big drums and access to water.
Then you need to buy fingerlings (@2 naira each) and feeds (aprox 25k for 200 fish). Then watch you fingerlings grow into big fleshy catfishes.
When fully matured, you can sell one for as high as 1k or even more depending on the location. So you see, the business will bring in amazing profits for you.
3. Recharge Cards Vendor:
Almost everyone in Nigeria use a cell phone and we know that airtime is like the life of a phone. If started in a busy area, you are assured of high sales.
For this business, you need an umbrella, two plastic chairs and a table all of which can be gotten with 15k or less.
Then you need to buy recharge cards from reliable wholesalers; with 15-20k you can get a chunk size of recharge cards and you good to go.
However, these business has a lot of challenges first of which is high competition as many are into the business.
Also, the location matters a lot as a busy location attracts high sales with high risk. Most importantly, you need to be around always or employ a trustworthy person.
4. Baking Business
Baking is a thriving business in Nigeria. Cakes and pastries are things Nigerians can never get enough of. Every party from weddings to birthdays and graduations needs cakes or small chops.
You can start this baking business right from your kitchen. You could start by making little cupcakes and small chops and sell to earn income.
To gain visibility, you can then promote your baking business on your social media, get people to order, and start making the big bucks
5. Popcorn Production:
Making and selling popcorn is another profitable business you can venture into. You can get the machine for about 40000 – 45000 naira; then you get the ingredients which are corn, butter and sugar.
Your location matters a lot in this business; so we advise you stay in a busy area such as a popular bus stop or close to a large school.
6. Sales Of Drinks And Water:
You can start this business for as low as 30k. All you need is a nice cooler and packs of different types of drinks. Don’t too much turn out if you choose to sell inside the street.
People living in urban areas like Lagos love both sharwama and barbecue and buy the day in day out. This means that the business is viable and profitable if you set it up in an urban area.
For this business, you need to buy to know how to make sharwama and/or barbecue or maybe employ an expert to make it.
Then you need to buy a grilling machine and get the shawarma ingredients, and find a lucrative location like huge profit potential.
8. Digital Marketing Business
This business is on the rise today. If you are skilled in managing social media pages, you can start up your own social media managing business, present an irresistible portfolio to small or large companies and help them reach their target audience and get paid a monthly fee.
9. Content Creation Business
Content writers, copywriters, scriptwriters, bloggers, you name it. Writing is becoming a very profitable business today.
If you have great writing skills, you can set up an online platform and present yourself out there to those who need your skills.
10. Graphic Designing Business
This is another popular business in Nigeria. If you are good at designing and creating images using platforms like Canvas and Photoshop, you can start up your own graphic designing business and garner clients.
11. Fast Food:
All you need for this business is a kiosk, a stove/gas cylinder, and your cooking materials (oil, kerosene, spoon,etc).
You need to decide the type of fast food you want to sell; you can consider cooking noodles & eggs, making teas alongside with breads etc. you can be assured of a huge turn out on a daily basis provided the location is good.
You should consider the practices of that location you want to set up your business. It is a profitable business, however, it needs to be closely monitored and it usually needs the presence of the owner.
In addition, you must be hygienic in the preparation of the fast food as this will keep your customers.
12. Small Poultry Business:
You can start poultry farming at the back of your house, so you need not bother about the location. For this business, you need to get 100 day old chickens (costing like 200 naira each) for approximately 20,00 naira.
Then you need to build a nice wooden big cage which will cost about 15,000 naira. You can then buy their feeds for 15,000 naira. The convenience is good with minimal risk.
13. Sales Of Phones:
You can make money from the sales of cheap phones. You need to buy cheap phones for about N2,500 each and also need to get a show glass, find a good location and that’s all!
This business is a very profitable business which does not need close monitoring as long as you can account for the number of the phones.
Location is the name of the game of this business. get a good location, get trusted supplier.
14. Smoked Fish Business
This is another very lucrative business venture. You can make and sell smoked fish across various markets in Nigeria or even go-ahead to export smoked fish to countries like the UK and earn income.
15. Soap Production Business
Soap production is another business you could start. You can make liquid soaps for bathing or washing, brand them, and distribute them to various supermarkets who pay a week after supply.
You could also decide to promote your soap on social media like Instagram or Facebook and ultimately deliver it to your interested customers.
16. Fashion and Beauty Products Business
You can start making beauty products like facial creams, liquid or bar soaps and put them for sale. The chemicals needed are easily available at the market.
You can start making all of such products with less than 50,000 Naira.
17. Selling Perfume
This is a brilliant business venture that can bring you profit as high as 100%. You could buy perfume bottles of 3ml, 6ml, or 15ml in their bulk and sell them for double the price and make a good profit.
For example, you could buy a bottle of perfume at wholesale price for 500 Naira and sell it for 1000 naira to your customers!
18. 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 everywhere.
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 are.
If doing it the right way you will get retailers coming to buy from you every day to sell. According to my research I find out that a dozen of those in lagos cost 6k.
You can start producing your own and sell to those guys selling along express and people selli in shop. You can start this business with 50
19. Ice Block Production Business
Nigeria electricity condition is getting worst every day and people need cold drinks water etc, you can be of help and make money with this.
If you already have a freezer you can start producing ice block and sell to people who are selling drinks and water.
The only important thing this business required is a freezer and Better generator with water.
20. 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
21. Tutorial Business
This is a serviced based business that can bring you big bucks. You can start private home tutoring for kids on different subjects OR you could sign up on online tutoring platforms like Prepclass and get paired with a parent.
You could also hold masterclasses on platforms like Whatsapp or Facebook. You could upload your courses on sites like Udemy and get paid every time someone enrolls for your course!
22. Web Designing Business
This only requires a laptop and your skills! You can design a website for various companies.
All you need to do is to sell yourself out there and present your clients with an irresistible portfolio!
23. Phone Accessories Business
Phone accessories are phone stuffs like phone chargers, air pies, usb 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 anybody that sell phones, or even if you are in lagos and close to computer village you can take your take to any free space and arrange your phone accessories, there are millions of people going to computer village every days.
24. Make-Up Artistry
This is a very popular business in Nigeria today. If you are interested in beauty and fashion, this is a very lucrative business to go into. You could do make up for weddings, parties and other events.
You could also hold makeup classes and charge them for the entire duration. In the long run you could open up a makeup studio!
25. Hair/Barbing Salon
This is another very good business that can bring you income. If you don’t have a place, you could start at your house or you could offer home services.
All you need to buy is the basic tools needed for your craft like scissors, combs, brushes, etc, and advertise yourself and you are good to go!
26. Tailoring/Fashion Designing
This is another super profitable business. People will always have to wear clothes. You can start a tailoring business.
All you need to get is a standard sewing machine and some other materials and you are good to go.
You can advertise yourself around your neighborhood or on social media to get yourself out there.
27. Jewelry/Bead Making Business
This is a business you can start up very easily. If you are skilled at making jewelry, you can make necklaces and accessories and sell them to people.
All you need are the materials needed to make them which is pretty much less than 50,000 naira.
28. Painting/Artworks Business
Are you good at painting? You can set up your art gallery and sell them to make money. All you need are your painting materials and you are on your way. You can paint and design images and put them up for sale.
Again, advertising on social media is a great way to attract the right audience to your business!
29. 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 erratic 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 Naira 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 Naira.
According to 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 Naira, mold cost #30,000 Naira, Thread #1,000 Naira, Packaging Nylons N1,500 Naira, heat source N600 Naira, Bowl, Ceiling Machine N2,000 and logistics.
This are the profitable business to start with 20000 – 50000 naira in Nigeria
30. Dry Cleaning:
Dry cleaning is a notable profit making avenue which can be done from your house.
All you need is an assured source of water, a Washing machine (can get a small one for 15k), and a 3kva generator which will cost you 30-35k.
You can do the ironing yourself or you might decide to hire boys to iron clothes for you while you pay them from working capital.
The business assures you of convenience, minimum risk, and profit maximization.
It is a viable business but the only challenge you might face is getting customers to patronize you regularly.
Top 10 Reasons Why You Need To Start Your Own Business
Now that you have ideas of the business you can start with 50k in Nigeria right now, let us also discuss why you should run your own business. Why is it important or what are the side attraction of owning a business of your own.
1. You Can Find Your Own Work/Life Balance
One of the most oft-cited benefits of owning your own business is the flexibility that comes with it, whether that be working from wherever you want, setting your own hours, wearing a nightgown or even sitting next to your pet while you work.
2. You Feel Pride in Building Something of Your Own
One of the biggest differences in owning your own business as opposed to working for someone else is the sense of pride you establish in building something of your own.
“There is nothing like being successful through your own leadership, abilities, ideas and efforts.
3. You Control Your Own Destiny
Many entrepreneurs consider themselves “Type-A” personalities, folks that like to take control and make decisions. In other words, owning a business saves them from having to work for anyone else.
4. You Can Challenge Yourself
Some people thrive on the routine of their job – performing the same tasks day after day. As an entrepreneur, you can bet that each day will be filled with new opportunities to challenge yourself, be creative and learn something new.
5. You Can Connect With Your Clients
There are few things that get entrepreneurs as excited as when they get to interact with their customers. Rather than hiding behind a series of automated greetings, small business owners thrive on dealing one-on-one with their best clients
6. You Can Follow Your Passion
Many entrepreneurs say the long hours they invest in growing their business doesn’t feel like work because they’re actually having fun in what they’re doing. “For me, it was a very conscious choice to make a living doing what I love
7. You Choose the People You Work With
When you work for someone else, you rarely get to choose whom you work with. If you don’t like your co-workers you’d better start sending our resumes. That’s not the case when you own your own business, since you get to make the decisions about who to hire (and fire).
Business You Can Start With 50k
8. You Can Give Back to Your Community
Many entrepreneurs love the idea that in building their business, they can give back to the community or communities they operate in the form of the products and services they offer, by donating to charities and especially the ability to create jobs, which is particularly important this pandemic day.
9. You Can Get Things Done Faster
Entrepreneurs as a whole seem to have an allergy to red tape. Rather than wait for approval – or for the guidebook to be written about how to do something – small business owners salivate at the chance to get things done.
10. You Take on the Risk And Reap the Rewards
There’s no question that owning your own business is a risky proposition. But, with risk comes reward. Said another way, the better you are at managing risk, the more rewards you can reap.
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