You have been told that many businesses are capital intensive and you cannot build one without huge investments. There is nothing more relieving for those with little savings and want to make much of what they have. Find out in this post business ideas and ventures you can build and sustain with just N100000.
20 Businesses you can start with N100,000
1. Food vendor Business
In most urban areas, with students, young adults, and even married couples, many now prefer to eat out. This is either due to busyness or the craving for particular meals. You can seize this opportunity and start a restaurant business. Restaurant businesses are known to flourish in cities like Lagos, Onitsha, Aba where people are always on the move. The tools needed to make this business successful will include healthy hygiene and good culinary skills, with just N70000; you can rent a small shed and begin serving one or two meals.
2. Soap production
The demand for locally made soap is on the rise. Well, this is not surprising washing will always have to take place. You can make soaps yourself. Many tutorials are given online on soap production. All you need to do is find customers giving them reasons your domestic-made soap has more advantages than others. The tools and equipment needed for soap production are also not expensive.
3. Perfume production
This business requires basic knowledge of chemistry and the art of packaging. With a capital of even less than N100000, you will do just fine. To achieve success in this business, you will need to keep educating yourself in the right product and packaging. Targeting high-class professionals who will be interested in the luxury of smelling good is also a plus. It is also possible to grow this business into an exportation commodity because of the long shelf life.
4. Mini importation business
This has to with finding out online shops that allow you to order products at cheap prices. Such online shops include All Express and Amazon. This business can even be started with as low as N10000. Profit is made on the sale of each product and you can expand even more. However, it is important to learn the tactics of this business, since your customers can as well shop online for themselves. It has however proven lucrative for many.
5. Fresh fruit juice production
The demand for a fruit juice that is organic is particularly high in urban areas where healthy foods are not readily available. Fruit juices are often sold in filling stations, hotels, and other target areas. Fresh fruit juice business has been noticed to be lucrative in highly populated cities such as Lagos, Port Harcourt, Abuja, Kano, etc. The equipment needed to make fruit juice is cheap. These include a freezer, stable electricity or a generator. The estimate needed for this business is as low as N10000 to N50000
6. Garri processing
A foodstuff that will always be on-demand in Nigeria is Garri. Not only will this business thrive in rural communities but also in urban areas. Mechanizing this business yields high rewards and will cost about 25000 to 30000.
7. Snail farming
Snails are expensive in markets and even as finished products in restaurants or hotels where they are served for consumption. Snail farming will not require as much as N100000. You could start this business in your locality with about N50000 to N80000. What’s more, is that it is said that snails are not difficult to breed and it is market for the rich and high classed.
8. Poultry farming
This remains one of the most popular businesses to start with little money. With as low as N20000, you can begin with a number of chickens. Poultry farming also does not require any special skills aside from your attention, education online and from experienced farmers as well as good hygiene. Other tools needed are space, water, and capital for their feeding which you are sure to recover on sales. Day-old Broiler chickens cost about N150 each. The good thing about these species of chickens is that they grow faster and in about 9 weeks, you can sell each for a rate of N1800 to N2000. In order to yield maximum profits from this business, one must understand the seasons at which they are most in high demand and knowledge of the risks involved due to weather conditions and susceptibility of the chickens.
9. Dog breeding
Dogs are kept as pets or even eaten in certain parts such as the northern and southern parts of Nigeria. Here, the dog breeding business thrives just well. A female Dog can be gotten for N70000. This dog can birth u to eight puppies which can also be sold for seventy thousand naira each. While your major cost will be the feeding of the Dog. You will also need to be Dog-friendly to run this business.
Although this business is highly environmentally sensitive, it is also a good business you can look into especially because of its low risk and diversity. Catfish breeding does not demand much stress and what you will need available will essentially be water, land space for the fish pond which can either be eaten (in the earth) or built with concrete. Cost and profit are usually based on your environment; the cost of land for the fish pond and demand for fish.
11. Mini business centre
This is a small business where you can easily make profits. It is best to run this in educational institutions such as Universities or colleges where such services are most needed. Tools needed for the effective running of a business centre are a set of computers, machines such as a scanner, a printer, photocopying machines, tables, and chairs. While this business might not seem profitable at the start, it ends up paying off in the long run.
12. Phone charging
This business venture tops the list because of the huge opportunities embedded within. Nigeria is a country with a poor electricity supply, but what’s more, is that everyone needs to be connected via their mobile phones. Since the price of fuel and gasoline are expensive, many people then pay phone charging vendors to charge their phones for a fixed amount. Tools needed to set up a phone charging booth are:
An electric generator which costs about N30000
Petrol, to fuel the generator- It is best to buy and store fuel in bulk so as to be on the safe side such as when there is fuel scarcity
An electric socket board with multiple sockets to charge phones
Switchboards and connecting wires from the generator to the socket board
A stall- This could be in the form of a kiosk or a large umbrella to prevent electric equipment from getting damaged.
13. Foodstuff retailing
Since the price of many foodstuffs fluctuates seasonally, one can buy them while they are cheap and then resell at a more expensive price. One could do this with rice, beans, garri, and even palm oil. All you will need to do is rent a store or stall and then retail it at lower quantities such as cups. For example, a cup of rice will sell for N100 or a little more. If there are about 250 cups in a bag of rice, the seller would earn his profits on each cup sold.
14. Selling of mobile phone accessories
This business can be started with even less than N100000. The only thing you will have to be concerned with is the right suppliers. Many start by getting their phone products from China since they are very cheap and will afford many customers. However, the wise thing to do is to aim for better and more quality products as your profit increases. Even though these are more expensive, this will allow for the expansion and growth of the business. Many more people will be drawn to your outlet because of your good reputation and encouraged to buy their phone accessories from you. Eventually, you will have a booming business that will pay off financially.
15. Laundry and Dry cleaning services
This business is yet to be fully maximized in Nigeria. Many people find it difficult due to time constraints to wash and most especially iron their clothes. However, laundry and dry cleaning services are rare and many complain they do not have one close to their homes. You can fill in this gap by opening a laundry service near you and provide quality services at a moderate cost. The business itself also requires moderate start-up capital. Tools needed for a laundry service are:
Supply of water
Soaps and detergents
Plastic or polythene bags
As the business increases, it becomes easier to expand the business
16. Cleaning services
In urban areas, many people complain about not being able to properly clean their houses due to their tight schedules. This business has huge potentials for expansion as it is mostly time-consuming and requires physical strength. A sum of all the tools and equipment needed for a start might not be up to N40000. However, with proper and effective planning you can do multiple jobs in a week and earn more. Having a huge customer base will help for huge expansion if the business and holding a good reputation.
17. Home cooking and delivery
This is a good business idea for many women, whether in active employment or not. Many people do not mind ordering food and as long as you have good culinary skills, you can prepare a variety of meals and get it delivered to a home. People will pay well for these services. The advantages are that you can run this from your home, while your customer pays for your labour, food materials and transport.
18. Direct sales
The concept of direct selling entails having a network of people of customers. This does not need a physical building or specializing in a particular product. With good communication skills, you can choose some products and sell to your network. Such products could include clothing materials, men underwear. There are markets where these products can be gotten cheaply and resold. The good thing about this business is that you learn marketing and business techniques that can further help you grow. You also start with very little capital and grow your network.
The world of beauty, style, and fashion is an unending cycle for the women. Hair is a must-do for women still. At least if one does not have a hairdo, she would at the least have a haircut. Either way, those in the hair business are covered and will never run out of business all other things being equal. With just a few start-up tools and a shop rented, one can begin the hairstyling business and keep adding to the tools at hand as sales increase. This is as long as one has obtained the skills needed. Obtaining the skills are relatively cheap depending on locations but an advantage of career paths that are dependent on one’s handwork is that practice is what makes perfect and keeps increasing customers.
20. Beer bar business
This has proven to be quite a lucrative business. The beer parlour is a go-to spot for young, old, single and married and even tourists. In addition to drinks, you can creatively grow your business by adding meals, putting up a TV set for recreational purposes. As profitable as this business is, it could be difficult to run because it has to do with dealing with a multitude of people. One will need staff one can trust and always keep all hands on deck.
21. Video gaming shops
All one needs is a shop and video gaming machines. When combined with a barbing business, it has been proven to be very lucrative.
22. Piggery farming
Piggery farming is one of the oldest profitable businesses. There is also a high demand for protein food and not to include the deliciousness of pork meat. A sow (female Pig) can birth up to 8 piglets at a time. A piglet will cost about 50,000.
You can choose your pick and kick off with whatever you have, ensuring to put in other requirements such as hard work and passion. Good luck!