Are you looking for a business to start with a low budget? If ‘yes’, in this post, we will show you list of lucrative businesses you can start with N100,000 in Nigeria. The world has come to the point through which one can engage himself or herself with the little at hand in terms of business.
While some become discouraged within themselves at times, especially when their ideal business targets are not met with the 100k. Yes, it is good to even think higher, but instead of keeping the money and later being unable to give an account of how it is spent, it is good to find a business you can start with such an amount.
This article has listed 20 lucrative businesses you can currently start in Nigeria with N100,000 despite the harsh economy of the country.
20 Businesses to start with 100K in Nigeria
Below is the list of businesses you can start with as little as 100k:
1. Power Bank Renting and phone charging
This may sound funny, but that is the fact. With One Hundred Thousand Naira, you can start this business in Nigeria due to the poor and inconsistent power supply in the country.
Not everyone can afford other options for power supply, such as purchasing a generator or even fueling it, but the vast majority, including the ones on the street, can afford paying a token to charge their phones.
With 100k in your hands, all you need to do is to get a different source of power supply than the one the public uses. This alternative power supply is, small generator which you can purchase with less than 50k. For a start, you can also buy 5 to 6 low capacity power banks for renting.
2. Phone accessories
Selling phone accessories is one of the businesses you can start with 100k in Nigeria. All it needs you to do is to start selling the most important things that you know people can buy, such as phone casings, ear pieces, chargers, screen guards, cables, screens, charging points, and calibrators for any phone type. With you having these and making your shop closer to where people can see you, you are sure to make a profit from that.
3. Food selling
When talking about businesses you ofcan start with low capital, food selling, is another business that still goes with 100k or even less. It all depends on the standard you want to start with.
A lot of people, especially in the urban areas, find it difficult to light their gas stove because of their engagements like going to work and returning home tired, therefore, they definitely have no choice other than to buy food to eat.
4. Fruit juice production business
The demand for fruit is high in Nigeria because it helps build the body. You can earn a lot of money if you venture into a fruit juice business, especially if you make organic fruit juice.
5. Soap production business
Ever since the knowledge of liquid soap has emerged, many people have gone into soap production. This does not cost a lot of money. You might not end up spending the entire 100,000 on this.And we all know how important it is to keep clean our bodies, cooking equipment, the environment and clothes and cars. This shows that since hygiene is important, the demand for soap will remain high and, as such, people who are involved in this with the availability of customers make a lot of profit.
6. Food stuff retailing
Food is important as humans can’t live without eating food. You can also start a food stuff retaining business with just a hundred thousand or even less. It still depends on what kind of food stuff you want to sell. By doing this, you can sell beans, garri, rice, and other spices. It’s not necessary to start with a bag, but start with rice, beans, and garri in mould, painter, or cups to fit in the available money together with a place to stay while running the business, usually known as a shop, or stall.
7. Palm oil retail business
We all believe that the price of oil is not stable and it can easily be seen as cheap at a particular time. At that cheap period, it makes it easier for you as a buyer to purchase and start selling. You buy it by the gallon, which costs between 23 and 25 thousand. This means that with a hundred thousand people going with 25 liters, you can get something like 70-75 liters of palm oil and start up your business, including getting a shop, the transport involved, and measuring materials.
8. Barbeque business
This is another business that moves faster in cities where a lot of big men and women try to show their status. This makes it much more important when we say that the rate of nightlife is becoming lively in the cities and sometimes in urban areas. Starting a barbeque business with meat such as chicken, beef, goat meat, and pork is good and will give you many customers. You can start it by buying them in small quantities and enlarging them based on demand. Remember, being hygienic in this business is very important.
9. Dog breeding
Since the awareness of English dogs is ramage in Nigeria, many people are involved in the dog breeding business with little capital in their hands.
10. Pig farming
The pig business generates a huge profit for its seller. This is why it remains one of the most lucrative businesses in Nigeria today. You can also begin with 100,000 by purchasing both female and male piglets.
Have the female more than the male, and with a sow in return, after being matured, gives birth to 8-20 piglets, and when you add this together, having about two sows with such an expectation of piglets, you are already making a profit just in an interval of a year.
11. Computer business center
This business has it fast going when it is found inside a school or close to a school. Starting it just needs a generator, a laptop photocopy machine not necessary if with hundred thousand. but includes a printer, desk, and a shelter. Putting these together can go for a hundred thousand. Note that the stake shouldn’t go higher than the money at hand.
12. Photography business
This business is fast moving and high during occasions, festivals, and events where many would like to have their picture printed, aside from snapping with their phone. All it needs most is a camera and a photo printer, which goes for a hundred thousand.
13. Laundry business
The reason why laundry businesses are rapacious in urban areas is that demand is high whereby working-class people find it difficult to sit and wash their clothes due to their engagement for the week and, as such, they prefer giving them to the launderer to wash, and at the end, this individual makes their profit. What this business needs most is a generator, an iron, a washing machine, and a place to start.
14. Video gaming shops
A video gaming business is another business that keeps young people employed. It helps its owners generate money on a daily basis, which most young people can’t do without playing games, and as such, many who have barbershops or something similar, like phone charging shops, or phone accessories shops, or even computer accessories shops, attach it to their business, and it is very economical to start.
15. Hair dressing and hairstyle business
A skillful person in this business doesn’t need much to start; all you need is to begin with little weaves, working tools, attachments, and a shop made of wood or rent. Yes, everything is important, but go for the needful ones, and later start getting others gradually.
16. Barbing salon
All a barbing salon business needs to start with his clippers, a mirror, a generator, and a shop, which you can do with 100k.
17. Fashion accessories
This entails the aspect of making and selling beads, earrings, and necklaces. Since most of them are done by simple hand, it doesn’t require you much but to buy them in a small quantity and start selling. Hawking should be the best for someone who wants to start with a hundred thousand.
18. Maternity, baby and nursing mother wear
When we talk about clothes or wear, this is one of the businesses that is fast moving in the aspect of the clothes business. Since babies are born every day and, as such, call for intending nursing mothers buying their babies’ cloth even before and after putting to birth, the business still moves fast. The business does not need much money to begin. All you need is to get the clothes, and the best way to go about selling them is through hawking or in an open shop or field.
19. Recharge card retail
Every phone user buys cards to make calls or converts into data. The rate of calls we make per day, week, and month tells us that the demand for recharge cards is very high. It is also very economical to start. Unless you are going into the recharge card printing business, which will need you to have a generator, laptop, or printer. A print shop is not necessary as you can print from home.
20. Event planning and management
It is a seasonal business that is very inexpensive to start. However, you must have the necessary materials on hand and be skilled.