Today, we will introduce you to four powerful businesses you can start with 50k or less in Nigeria. It doesn’t have to be N50,000 before you can begin. This will be a fast and to-the-point article.
4 Powerful Businesses to Start With 50k in Nigeria
Here are some businesses you can start with N50,000.
1. Mobile Phone Accessories
Everyone uses earpieces, ear pods, chargers, phone bags, screen protectors, and other accessories. The demand for these items is increasing every day, making it a daily business.
You can start this phone accessory business with N50,000, or you can start an earpiece business with N10,000. Simply go to AliExpress and get them directly from China at a low price.
Some earpieces cost less than 200 naira and can be resold for as high as 500, 600, or 700 naira, while those purchased for 1000 naira can be resold for 2000 naira or 2500 naira.
With N100,000, you can reinvest your profits, expanding the accessories you sell as the business grows. Use social media to sell and distribute to your friends; you may become the next Jumia.
2. Shirt Sales
You’re familiar with the standard shirt worn by men, like bankers and office employees. You don’t need to be a tailor or seamstress, and you don’t need to start buying shirts. Go to a market like Ariaria Market in Aba, inquire about shirt materials, or order real male shirts online and pay on delivery.
Choose nice ones; avoid color riots. They will sew for you at a low price, in various sizes, and even add any personalized label you desire.
You can start this business with N50,000 or even N30,000, depending on your available capital. Ensure there’s a market for you and use social media platforms for marketing.
3. Sales of Fairly Used Clothes
Okirika, or OK, is a profitable business you can start with less than N50,000. One of my aunts began her business with N5,000 and is on her way to creating her own shop.
This business is especially profitable when selling female okirika. Purchase clothing in Cotonou, or meet people who have purchased from Cotonou and select nice ones to resell in your neighborhood or anywhere else you believe you can sell.
4. Food Stuff Sales
This business appeals to me because you must sell every day, especially if you live in an area where getting to the market is difficult.
If you are the market for the people, the money is yours. You can start with a basin of garri or a basin of rice; just start somewhere. If you live near a farm that produces these items, you won’t need much money.
Conclusion
You don’t have to start huge; you don’t need N50,000 to begin. Start small and reinvest your profits into the business. Whether you are a student, a family member, or a working individual, these enterprises can be run on the side without taking up all your time.