10 Profitable Businesses You Can Start with 50K, 40K, 30K, 20K, 10K Naira in Nigeria

1

People like to wait till when they have huge amounts of money in their bank accounts before taking the bold step to start their desired business. This article exists to inform its readers that there are numerous businesses they can delve into without thinking or spending too much. 

This article exists for people who feel stuck in their 9-5 weekday jobs without any sight of self fulfilment, out-of-job people, and aspiring entrepreneurs who wish to be their own bosses to take up a venture that requires very little money to start with. 

We are in the big 2021, a lot of businesses have gone digital, and the world economy has tripled in speed. Business opportunities are now everywhere via the internet, an astute entrepreneur only needs to grab his own share of all the opportunities hovering around.

Getting Interesting? Read: Common Bank Charges in Nigeria and How to Avoid Them

These, below, are 10 fantastic businesses you can start with little money between N10,000 – N50,000 naira in Nigeria today. An ambitious entrepreneur must find at least one business here that interests them:

Fast Food Business

  • Tools required: Big cooking pots, utensils, iron gas stove, disposable packs and plates, big picnic cooler
  • Materials needed: Food stuff
  • Target market: Corporate offices, schools, events

Another food. Humans cannot do without food, this is a known fact and you can capitalize greatly on this for income. For people who have good cooking skills, this is one thing you can do, make your money, and also enjoy yourself while at it.

With your phone, it is important to take high quality and very colourful pictures of your finished and neatly served food for effective advertisement. Social media can be a very useful tool when pushing for more business in this space, so post your yummy pictures to your social media pages and tag influencers. Influencers may repost/retweet your post which in turn increases your engagements and orders. Everybody loves good food.

Perfumery

  • Tools required: Small perfume bottles
  • Materials needed: Fragrances
  • Target market: Offices, hotels, clubs, events, resellers, etc

The art of making perfumes is a creative venture that has no boundaries. Just like in other creative ventures, the entrepreneurs enjoy creative freedom – so there’s no best smelling perfume nor is there a worst smelling perfume. 

Different perfumes are meant for different occasions, so there is always room for new fragrances.

All you need to do is make your perfumes, promote them on your social media, and enjoy an influx of orders (especially if your fragrances last long).

Soap Production

  • Tools required: Mixer, water
  • Materials needed: Branded disposable plastic bottles, raw soap
  • Target market: Offices, households, resellers, hotels, supermarkets

Soap production is one business you can start with N10k and still make good earnings off it. You can choose to make bathing or washing soaps with cheap materials gathered around you, imprint your brand on the container you use in selling the soap and sell them to people who need them.

Getting Interesting? Read: Best High Interest Savings Accounts in Nigeria in (2021) (Updated)

Depending on the branding, many supermarkets are always open to taking a few of your products for display and pay on sales made. You can also take to your personal social media to promote your products as you wish, this has proven to always boost sales.

Dry Cleaning Business

  • Tools required: Industrial pressing iron, washing machine, table
  • Materials needed: Starch, bleach, detergent
  • Target market: Offices, schools, neighbours

Dry cleaning business is one business that requires all the seriousness of the entrepreneur because it has a lot to do with referrals. 

Industrial washing machines may cost as low as N20,000 naira in any second-hand market. Pressing irons should cost about N5,000 naira or thereabouts in the same market. What else do you need to buy? Detergents, bleach, and so on.

Once you get your referrals right in this space, the rest is hinged on your ability to deliver. Like many other businesses on this list, the market is readily available for you.

Small Scale Farming

  • Tools required: Hoe, cutlass, protective hat, piece of land
  • Materials needed: Seedlings, fingerlings, baby snails
  • Target market: Resellers, fast food owners, neighbours

Getting Interesting? Read: How to Start Cattle Rearing Business in Nigeria

Farming is one business you can start at the back of your yard. By planting vegetables, yams, pepper, corn, or rearing animals, you can earn a lot of money. 

Non-mechanised farming might seem a little small and not immediate, but the income is actually very great. Most interestingly, the materials required for your planting are readily available around us.

Seedlings and baby animals are quite easy and cheap to get. This qualifies the small scale farming business to be one of the 10 very profitable businesses you can start with 50K, 40K, 30K, 20K, 10K naira in Nigeria.

Baking and Pastries/Small-Chops Business

  • Tools required: Industrial oven, mixer, roller
  • Materials needed: Baking powder, sugar, salt, decorator, flour
  • Target market: Events (Weddings, birthday parties, graduation parties, etc), corporate offices, schools, etc.

Baking and pastries/small-chops making business is currently on a boom in Nigeria right now. Nigerians are moving their mindsets from the hitherto elaborate parties to smaller and more compact settings. I suspect that this is to cut costs considering the current economic realities of Nigeria. In Nigeria today, almost every gathering needs a cake, pastries, cup cakes, or small chops to be served.

The entrepreneur can start small by making these in their personal kitchen and run free social media campaigns on their personal social media accounts. With an effective social media visibility, a small baking/pastries/small-chops business can earn you a modest income without much hassle. This qualifies the baking and pastries business to be one of the 10 very profitable businesses you can start with 50K, 40K, 30K, 20K, 10K naira in Nigeria.

Writing

  • Tools required: Computer system, internet
  • Materials needed: Your skill
  • Target market: Blog owners, media influencers

Writing, today, has become an on-demand skill worldwide. This is because the written and visual media already have billions of ready consumers on the internet.

Of course, the major thing required to survive in this venture is your hardwork and your writing skills. Hard Work, because it is very tasking to write 1000, 2000-word articles. Skill, because you must choose the right words (for SEO), make the right tenses and obey all the laws in grammar without exceptions.

Fashion Designing

  • Tools required: Sewing machine, hangers
  • Materials needed: Clothes, threads, needles, markers, accessories
  • Target market: Offices, parties, schools, neighbours

Although it may have its own peak season, fashion designing/tailoring is one venture you can delve into today and start making profits the same day. Again, just like bead making, your skills are the most important tools here.

With your sewing machine, you can sit and make clothes that will earn you referrals. This is why it is important for tailors to cultivate the attitude of paying attention to details and also keeping to agreed delivery time. In place of the expensive life-size mannequins, you can make iron hangers to display your finished wears outside your shop.

In this space, only the entrepreneur can hamper his or her own progress. People wear clothes daily and the referrals are readily available for the picking – you just need to give excellent service.

With your phone, it is important to take high quality and very colourful pictures of your finished and neatly done clothes for effective advertisement. Social media can be a very useful tool when pushing for more business in this space, so post your pictures to your social media pages and tag influencers for good offers. This qualifies fashion designingbusinessto be one of the 10 very profitable businesses you can start with 50K, 40K, 30K, 20K, 10K naira in Nigeria.

Getting Interesting? Read: 7 Step-by-Step Guide on How to Start Poultry Farming Business in Nigeria

Hair/Beauty Salon

  • Tools required: Clippers, brush, scissors, combs, hair dyes, etc
  • Materials needed: Your skill
  • Target market: Neighbours, others

With as little as N10k-N50k, you can start and thrive in the hair salon business. 

What you are selling here is majorly your skill, every other thing can be excused. For instance, men can let you cut their hair without much care about the ambience of your shop space as long as you cut it WELL (emphasis on well).

More interestingly, this is on business where home delivery earned you over 2x more than you would, if you stayed in your shop. 

With your phone, it is important to take high quality and very colourful pictures of your finished and neat work for effective advertisement. Social media can be a very useful tool when pushing for more business in this space, so post your pictures to your social media pages and tag influencers for good offers.

Trading Water and Drinks

  • Tools required: Ice, big picnic cooler, a stand
  • Materials needed: Water, drinks
  • Target market: Passersby, schools, events

Buying and selling drinks is another lucrative business that moves very fast. If you look around you, you are likely to find medium/big dealers in drinks and water. From these people, you can buy soft drinks and water at wholesale prices. You can also buy ice from local ice sellers or malls. 

Put them all in your big cooler and sit with it at your strategically-positioned stand. Your target market could be the people passing by, event goers, pupils who just closed from school, etc. From this, you can make your margins and scale up the business. This qualifies trading in water/drinks one of the 10 very profitable businesses you can start with 50K, 40K, 30K, 20K, 10K naira in Nigeria.

1 Comment
  1. […] Interesting article? Read: 10 Profitable Businesses You Can Start with 50K, 40K, 30K, 20K, 10K Naira in Nigeria […]

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More