One of the questions often asked by aspiring business owners with low capital, is “what type of business do I go into and with a big chance of high returns?”
If you are also having this thought, this is the new level of normal and there is nothing wrong with having little and yet expecting so much from it. There have been stories of people starting a business with as little as N50,000 yet growing to become big after putting in much work.
The unemployment rate in the country is not slowing down, and you need ways you can make money whether online or securing a location for business. Aside from that, if you are to calculate how much expenses you accumulated on the meager salary you receive, then you will understand why motivational speakers keep saying, “No one gets rich working for another. Meanwhile, it depends anyway.
In this article, we are going to ensure that almost everyone has a chance irrespective of their capital. Your N10,000, N20,000, N50,000, or N100,000 could be the beginning of a great enterprise.
Here Are The 20 Small Businesses You Can Start In Nigeria With Low Capital:
1. POS Business
Another name for Pos Business is Agent banking business and is one of the hottest businesses you can start with little capital and still be able to get high returns in Nigeria.
Depending on your location, you could set up with as low as N100,000 for a start. Starting with just such an amount means you will only be getting a kiosk or simply combining it with an existing business.
Pos agent charged N100 when anyone makes a withdrawal or deposit of an amount not more than N5000. At times, N5000 could fetch you N300 profit in just a few minutes. For instance, if two people withdraw 2500 each while another sends or makes a deposit of 4,000. In a day, you could make more than N5,000 as profit.
Meanwhile, when venturing into the POS business, ensure that it is set up in a location far from the bank or where there is a large turnout of people at the ATM. It is even better if the location is in a rural area as the residents rarely go to the banks due to the time and expenses incurred to get to the bank or ATM.
Blogging is no doubt the business that can give you high profit despite the small investment. With capital as little as N5,000, you can get your own blog if you choose to run it on a Google-owned platform, blogger.com.
All you just need is to purchase a domain and have blogger.com host all your files. You can also decide to purchase WordPress hosting which comes at a price. Most hosting websites do give new customers up to 90% off on their first purchase, therefore you should get some respite for the first year.
If you do not know how to get started, go through the articles and videos on the Internet on how to start a blog using Blogger. Ensure you use the ones that have the most positive comments for a start.
3. Sales Of Soft Drinks And Water
Nigeria has a tropical climate with irregular dry and rainy periods. In the northern parts of Nigeria, there is more hot season than the rainy season which naturally boosts the sales of soft drinks and pure water.
Notwithstanding, wherever you are in Nigeria, the demand for soft drinks and pure water is on the rise. In the traffic and after a stressful period, people tend to cool off with something cold.
This is an opportunity to make money as it is a very lucrative business in Nigeria. A bag of pure water is sold to retailers at the rate of N80, and there are 20 sachets in each. You could make twice the amount you invested and pure water sellers sell between 10 to 20 bags in a day.
Moreover, this is only for sales of pure water alone, you could make more profit if you are adding soft drinks to your small business. This is a business that could set up for a big venture if you play your cards right.
Starting sales of pure water and soft drinks is not capital-intensive. You can even start with just N2,000 which should fetch you more than 20 bags. Still, it is better if you start with at least 5,000 to give soft drinks and other drinks like Zobo and Kunu a chance.
4. Car Wash Business
If you have space where people can park their vehicles, you could take up the Car Wash Business. It is one of the hustles in Nigeria that you do not need a large capital to start before making cash regularly.
In Nigeria, the price normally paid to wash a vehicle ranges from N500 to N7,000 depending on the size. Machines are washed at the rate of N500. Imagine washing at least 5 machines in just a few hours and then we have other vehicles. You could earn at least N10,000 in a day without investing much.
If you are serious about making money, this is one of the businesses you can not afford to turn down and there are more you could also consider if you feel this is not posh enough for your status.
5. Become a Bolt/Uber Driver
If you can drive and know your way around your region, it is a massive opportunity to earn good money in Nigeria. People, especially in mega cities are always looking for Bolt or Uber drivers to transport them to their various destinations.
Uber and Bolt drivers charge exorbitant prices and even get some tips. You could be making at least N10,000 every day. Even if you cannot afford to get your own car, you could arrange with someone while you both agree on the sharing formula.
As a driver registered under any of the companies, you have an option to determine how you want to work, it could be full or Part-time. This could give them a chance to indulge in other activities.
6. Become a Digital Marketer
Aside from your gadget, data, and a brain box full of experience, you do not need much to become a digital or social media marketer. Social media marketing seems to be a name people are familiar with in Nigeria, and it remains part and parcel of digital marketing.
As a digital media marketer, you can start without any money, yet earn 6 figures every month. To become a digital marketer, know at least 3 branches under it including social media marketing. One of the main advantages of digital marketing is that you do not need to have a degree, as your experience and ability to get results are all that matter.
The more you become an authority in this field, the chance of you getting major deals from top organizations like MTN, and even Government Agencies,
7. Video Blogging
Video blogging, popularly known as Vlogging is another business you could go into if you are looking to start with a low amount of Capital and yet make good money in Nigeria. Vlogging is like a sister to blogging and even a cheaper alternative.
To be candid, you almost do not need any cash to start as long as you have a device which could be an internet-enabled smartphone or PC.
YouTube allows people to upload their videos online for free which can be monetized provided you satisfy their conditions. Most people make at least $200 in a month while the giants make not less than $3000.
If you have something worth learning, you can abandon YouTube and offer online courses as a side hustle or full-time job. It could also be worth it if you stick to YouTube and monetize with Google Adsense.
Dropshipping is still one of the coolest ways to money online in Nigeria without investing some cash. In this kind of business, you are only acting as an intermediary between a supplier/manufacturer and a customer.
In this line of business, the customer orders a product using your platform which could be an online or offline store, then you have the supplier deliver to the customer’s address. One of the major benefits of dropshipping business is that you do not keep goods or products, and yet make profits from the transaction.
For instance, your Chinese partner sells at the rate of $10 and you could decide how much you want to put in. You can even earn x3 of the amount if it reflects the current price in Nigeria.
Anyone could make millions of naira from the dropshipping business. The logic behind it is to know what is currently in demand. There was a time when waist trainers were in high demand, imagine having about 100 people waiting for you to fulfill their request. This is another that could generate income even if you have no start-up capital.
9. Importing of goods
With just a little cash, you could become an importer of goods and then sell to Nigerians. Countries like China and Korea are known to sell products such as phones, accessories, electronics, and many more at a very cheap rate.
Nigerians love anything foreign which means there is a market all ready for it. You can decide to sell on any online stores in Nigeria or make use of Olist. The products can also be sold to your friends, families, or your neighbours.
You could start with almost any amount, even N10,000. Alibaba is one of the online stores in the world that sells very cheaply to suppliers. There are also other stores like eBay, and Aliexpress that you can buy items from. However, when using this site, ensure you read thoroughly to know the kind of protection available for you when deals go sour. Each of these online platforms protects their customers provided they act within the rules guiding buying and selling on their various platforms.
10. Makeup Business
Makeup business is becoming a very lucrative business in Nigeria and it is also one of the quickest skills you can learn within a short period. If you are a female and looking for a low business idea that pays well in Nigeria, take up this venture and you will be amazed how much you make weekly.
Students are also encouraged to learn this skill which they can also provide within the school environment. However, the student budget might not be glamorous, but you can expect about N500 to N1000 per service while the socialites could go up to 50,000 or even more on your lucky day.
Makeup businesses do not necessarily need a physical location as long as you know how to harness the power of social media. The shop is only a plus if you decide to get one.
11. Daycare Service
There is also an opportunity to make money if you can get a secure environment for children. Parents always need to put their wards or children in Daycare Facilities while they go about their business of the day.
Daycare normally charges between N5,000 and N30,000 monthly depending on the age of the child under care and the location as well. If you can get at least 20 children to register under you, you could be making not less than N100,000 in a month.
You do not even need to rent a space. If you are living in bedroom flats, you can convert part of it to daycare. Maybe later, you can rent a space to make rooms for more children.
12. Affiliate Marketing
If you have large and dedicated followers on any of your social media or instant message platforms, you could indulge yourself in Affiliate Marketing.
Affiliate Marketing is when you refer someone to use another person/company’s product, and in return, you get the agreed commission. For this to work, they must use your referral’s link.
Jumia, Konga, bet9ja, and most organizations also have a referral program that anyone could use to make some extra cash. The information is always provided on their website and if you have got a website or a good number of followers, they could contact you for partnership as well.
The first step is to have a platform where you can share with your audience. It could be on your Facebook page, group, or even blog. And watch as the money flows in when you start influencing buying decisions.
13. Graphic Design & Photo Editing Skill
Whether you are a master at both or simply know your way around one, these skills are known to guarantee income regularly.
Working as a graphic designer means you are very creative at using graphic software like Corel Draw, and Illustrator while being a Photo editing expert means you are very versatile with Adobe Photoshop or its many alternatives.
A5 full-colored handbill alone is designed at the rate of N1200 plus printout. If you are able to get a magazine job, you could even earn more as a Graphic designer charges per page, mostly N1500, and imagine having about 49 pages to work on. It is you smiling at the bank.
To beat the competitors, you will need to be good at what you do. There are now lots of artists out there and you can expect individuals, brands, or companies to be looking only for the best creative minds.
Photoshop experts are also known as Graphic Designers as they can also use Adobe Photoshop to design compelling artwork. What makes them stand out is the ability to manipulate images.
14. Dry Cleaning Business
Dry Cleaning Business remains one of the Nigerian businesses you could start with little capital. For a start, you could use your home and then move on to a bigger place when the money starts pouring in.
Finding customers could be very difficult at first but aggressive marketing should help. Give out handbills, visit companies and agencies, and let them know about the service you offer.
Not many have the time to do their laundry, therefore, they are more likely to need someone to do such jobs for a fee. Dry cleaning and laundry are still very profitable and you could engage in a plan to start yours today.
15. Plantain Chips Business
Another business that could potentially earn you daily income is plantain chips. It is also very easy to start as it does not demand much-working capital, yet very lucrative.
If you are in doubt about how lucrative it is, observe any plantain chips seller. You will be surprised at the turnout of people waiting to buy mostly during gridlock.
With capital as little as N3,000, you could eventually start selling. On the profit side, you can expect at least double of it. You can also brand it by having a flier slotted into the nylon used in enveloping the chips. With time, it could turn into a big venture if you can produce quality and crisp chips
16. Sales of Alcoholic Drinks
In a country like Nigeria that consumes alcohol daily, sales of alcoholic drinks is another small-scale business you should invest your money in. They are consumed during any season and the sales could rise during the cold season.
It can be started with a small amount of money. If you can not afford the money to start the sales of beers like Stout, Gulder, and Harp, you could start with sachet alcoholic drinks, and through the profit earned over time, you will be able to expand this Business.
Another business opportunity that sales of alcoholic drinks provide is peppered fried meat, fish, snails, and turkey. With more funds, you could easily add to your business.
17. Tailoring Business
Despite the fierce competition in Nigeria, the tailoring business is still one of the ways people make quick money. The cost of setting up is not that much and also another business you can do it from the comfort of your home till you get a space.
Training to become a tailor could take about a year, although nothing is stopping you from knowing everything worth knowing within a few months which will largely depend on where you are learning the craft. If you are learning from places where there are always jobs to run, this could help you gather the needed experience quickly to beat off the competition.
Tailors charge N1500 to N10,000, this could be enough to take care of the growing daily expenses. Once you are ready, you are not just a tailor but a fashion designer.
18. Hairdressing/Barbing Business
Irrespective of gender, there will always be a time when hair needs to be taken care of. Barbers make N3000 to N7,000 in a day and on Sunday, it could even be more. Meanwhile, in metropolitan areas, they charge about N3,000 per head, therefore it is difficult to estimate how much they make every day considering the number of people that go in every day.
Hairdressers are also cashing out big time and a single hairstyle in Nigeria could go as high as 10,000 in rural areas, you could even make more in Cities.
However, for a barber, getting a space might be important since it is the usual trend while a hairdresser could go mobile. The most important thing is to be good at any of these crafts. As long as you are good, getting daily money would come very easy.
19. Fast Food Business
Fast food business is not as stressful as going into foods like cooked rice, beans, amala, eba, etc. Fast foods like Custard, Pap, indomie, eggs, bread, and tea are easy to make yet ensure high returns.
If you can get a small kiosk or table, you could start the business in your neighbourhood or move to places where vehicles and people use regularly.
Not everyone has the time to cook their food, especially in the morning, and most people would rather find a fast food joint to keep up with the task of the day. This is an opportunity you should not let pass by if you are looking to get daily income.
20. Freelancing Service
If you have got any skills that can be monetized, it is about time you start converting them into a money-making business.
People are always looking for a Content writer, Microsoft Office expert, SEO expert, digital marketer, graphic designer, and more. You can get customers from Fiverr, Upwork, or leverage on social media platforms like Facebook, Twitter, and Instagram.
With Facebook alone, you can reach out to lots of users and convert as many as possible. Facebook also allows you to create an FB business account which could potentially help increase your sales. It is also one of the common ways that experts make money without working capital.
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