Top 7 Businesses that you can Start with 50k or less
One of the most admirable traits in successful entrepreneurs is their ability to do more with little. This explains why there are several businesses that were established with little startup capital. In Nigeria, even with the current situation of things in the country, there are still several business opportunities that doesn’t require large startup capital, businesses that can be started with as little as fifty thousand naira, or even less.
Are an already established or intending entrepreneur in Nigeria, and you’re interested in starting a business that won’t require much startup capital? Here is a list of ten business ideas that you can start with fifty thousand naira or less in Nigeria.
- Popcorn production business.
Popcorn is among one of the fastest-selling snacks in this present age, especially in the commercial areas of the nation. Both the old and young are fond of eating popcorn, which is why the business is defined as a very lucrative business in Nigeria.
Aside the fact that producing and selling popcorn is lucrative, it also doesn’t require much capital before you start it. You can start your popcorn business with as low as fifty thousand naira or even less, you only need to get the pop machine, and some other ingredients that doesn’t really cost much, get a very good location, and off you go.
The secret to making great sales and much profit in the popcorn business, is to get a good location, ensure that your popcorn is well prepared and packaged, and make sure the service is top-notch.
- Laundry Business.
The laundry business has been booming lately, it has proven to be a very promising industry. The reason for the spike that the laundry business is contained in the fact that people are beginning to find it difficult to create a time in the closely-packed schedule to do their laundry, so they have no choice than to give someone else to do the work for them.
Starting a laundry business is not in anyway difficult, you only need to get your washing machine and other cleaning materials, which won’t cost you more than fifty thousand or even less. For your business to be really successful, you would also need to work on your marketing, that’s what some people look out for when deciding who to handle their laundry.
- Fast food business
You don’t necessarily need to be a professional chef before you start your fast-food business. You can even employ the service of a professional, if at all you can’t handle the meals.
The rate at which we consume fast-food lately is alarming, and this accounts for the profitability of the fast-food business. Preparing and selling fast-food is one of the cost-efficient and highly lucrative businesses in Nigeria. Considering the number of people who consume fast-food on a daily basis, it really is highly lucrative.
In starting this business, you would need to get a very good location, probably a commercial area, and set up your restaurant there. You don’t need more than fifty thousand to start, and you can start with the common meals, as the business grows, you can now introduce other meals.
There have been several government initiatives lately promoting the fishing industry, the government itself is beginning to see how the fishing business could be a very profitable avenue to generate domestic profit and reduce the unemployment rate in the nation.
For an entrepreneur planning on investing in a business that doesn’t require much startup capital, fishery is one of the profitable businesses that you can invest in that doesn’t require more than fifty thousand. There are even new ways of doing small scale fishery nowadays that won’t require much equipments, and yet would have large turnouts in terms of revenue and profit.
Another interesting fact about this business is that, there would always be people who would need your product, your customer base would be set, even before you grow the first set of your fishes.
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- Baking Business
The demand for cakes in Nigeria is becoming enormous, it seems people’s craving for cakes just grew at an unexpected rate, and this has been creating opportunities for bakers. And with this high level of demand, the market is still very sparsely populated, which gives intending entrepreneurs planning to dabble into the industry, the opportunity to spread their wings and fly.
You don’t need much capital before you set up your baking business, because often time, the ingredients required to make the cakes are paid for by the consumers, which means you don’t need much equipments or ingredients to start, and as your business grows, you can still acquire more equipments that would make the whole work easier.
Professional classes and tutorial classes are now on the high demand. The labour market in Nigeria has opened the eyes of a lot of people to the opportunities that are available to those with professional certificates, along with their university degrees, and this explains the reason too many people are now registering for professional classes.
For an individual that is business-inclined, this is an avenue where you can make much profit, without putting in much capital. You don’t necessarily need to hold a certificate for all the courses you would be offering, you can get professionals in those respective fields to come and teach the courses in your own classes. And with the right proposal, you would be able to secure those professionals without spending much money.
You can also join affiliation with some already established professional organizations that can certify your students as soon as they are done with your classes, your brand logo along with that of the organization will both be on the certificate, and that’s a win/win for everyone.
You would pay to get access to their exams and certificates, and since it’s going to be a partnership, you won’t be required to pay much, and that’s it.
- O.S. Business
With the rising population in Nigeria, the queues at banks are becoming burdensome, that people would have to think twice before they make attempt to approach their banks. And this is why there are now several Pos outlets where you can easily withdraw and deposit your money.
There are still some environments where the number of these outlets is still very low, and that’s where the opportunities in this business lies. To start, you would need to get an environment where banks aren’t so near, and the outlets there are not much. Once you get the environment, you’re good to go.
The startup capital is not much, not more than fifty thousand, or even less, and you’re guaranteed a satisfying profits.
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