What if I told you that you may start a profitable business in Nigeria with as low as 100k (one hundred thousand Naira)? This is true, and there are enthusiastic entrepreneurs like you who have already achieved success with less than N100,000 in start-up funding.
The Nigerian economy does not appear to be improving; in fact, it appears to be deteriorating. Many graduates are unemployed, and those who have jobs are paid little and forced to labor around the clock.
Unsurprisingly, many Nigerians are seeking ways to supplement their income, and those who do not work a conventional 9-5 are looking for a business to start.
Here are Lucrative businesses to start with 100k
Makeup Business
If you know how to apply makeup and have the necessary equipment, such as brushes and a cosmetics kit, you can start a successful make-up business where you visit clients and give them a makeover.
If you don’t have the funds for a studio, makeup and a box can be purchased for less than 100,000 Naira.
Dry-cleaning Services
Many people in Nigeria, particularly professionals, require the services of a dry cleaner since they are too preoccupied to add clean clothes to their to-do list.
They hire a dry cleaner to take care of that aspect of their lives. The dry-cleaning sector is booming, and for less than 40,000 Naira, you can have a washing machine that washes, rinses, and spins your clothes.
Furthermore, a pressing iron does not cost more than ten thousand Naira. The best aspect is that you may start this business from the comfort of your own home.
Data and Recharge Card Reselling
Although the profit margins are low in this industry, if you are persistent, you should consider beginning a recharge card business. In Nigeria, everyone needs to recharge their phones at some time, and not everyone utilizes Internet banking to do it.
Content Writing
If you have a flair for writing in a specific field, this is a great company to start. You’ll need to be a competent writer who can create content for users on the internet.
Those pieces of content must be in the shape of articles, blog posts, video content, or any other type of web writing. This is one of those businesses that you can start with little money and make a lot of money; nevertheless, you will need an internet connection, a smartphone, or a laptop to get started.
Many organizations are searching for people like you to manage their websites and provide material that can help them pitch sales, or you can work as a freelancer for as little as $5 on services like Fiverr or Upwork.
Laundry Service
You can also save money on laundry detergent by manufacturing your own. Because laundry detergent accounts for the largest percentage of your monthly overhead cost, strive to reduce it to a minimum while maintaining good quality. If you don’t already know how to produce detergent, you can learn.
Now that you are ready, you can find a good location in a residential area with clean water, and in the long run, you can incorporate cleaning offices, an event center, and make sure you are protecting your integrity if you are employing people to avoid stealing client’s property while you conduct safety and security documentation and checks prior to hiring.
Mini Importation
Mini importation business is an additional business idea in Nigeria that you can start in 2021. Basically, I buy from corporations in other countries and sell in Nigeria.
You can start with a small amount of money and import goods from China to Nigeria or any other manufacturing country.
Internet access, a computer, and social media presence are all required to launch a profitable little importation business. Mini importation business is an internet business that you may start with 100k in Nigeria and make a profit of up to 200 percent within a few months.
Dropshipping
Dropshipping is a retail fulfillment strategy in which a store does not keep its products in stock, but instead buys them from a seller or manufacturer, who then sends them to the buyer with a personalized greeting from the drop shipper.
You’ll need social media accounts and/or a website to get started and reach a large audience, as well as an online store where you can offer things to consumers if you want to make a lot of money.
For this type of business, you may start with as little as N20,000. It only takes a few steps to complete your supply economics. Dropshipping is an e-commerce business that is also one of the most straightforward ways to generate money online.
Digital Marketing
Digital marketing, in general, refers to any online marketing efforts or assets, such as email marketing, social media marketing, pay-per-click advertising, and blogging, that are used to expose consumers to a firm and persuade them to acquire goods or services.
A lot of companies nowadays want to hire someone who can accomplish any or all of the following for them.
Email marketing is also one of the oldest kinds of web marketing, and it is constantly rising in popularity due to its low cost. Do you know that many people launched this niche business in Nigeria in 2020 with a budget of N100,000?
It is apparent that a digital marketing agency specialized business can be started with N100,000 in Nigeria by 2021, or you can become a freelance digital marketing expert if you have the abilities or are willing to learn them.
Cooking Gas Service
Cooking gas is currently cheaper than any other form of cooking in Nigeria, and people are flocking to it. Depending on your capital or budget, you can start a small or large gas business.
With this in mind, we are focussing on the low level of not having a gas station, which is one of the businesses in Nigeria that may be started with N100,000. You can start your business in a residential neighborhood where a lot of people use gas in cooking as your target consumers if there is no or little gas sales competition, and then offer accessories like clips, pipes, regulators, and so on in the long run.
You may start this business with as little as N100,000 Naira and recuperate as much as 50,000 Naira in one month if you invest in the right location, networking, and gas cylinder.
POS Business
At a glance, a point of sale business provides services such as money transfers and withdrawals, airtime sales, and bill payments such as DSTV or GOTV, as well as WAEC.
POS stands for point of sale or service, and it entails a lot of liquidity or cash that can be given out as a withdrawal.
Because accessing an ATM from anywhere in Nigeria is difficult, individuals choose to use agents for commission rather than going to banks or ATMs. Is it the commission that makes this business work?
In truth, the POS business is a cash minting business that has been around for a long time; it is a tiny business that can be started with as little as N100,000 in Nigeria and earn a lot of money. See 5 best POS in Nigeria
Production Of Detergents
The truth is, we all need detergents regularly in our varied homes, but the main thing is to make one and sell it to as many homes and businesses as possible. Yes, we’re talking about enterprises that can be started with less than N100,000; nonetheless, you can start this business with less than N100,000.
Believe it or not, these large corporations profit from selling at high prices, therefore if you can make high-quality cleaning chemicals, people will buy from you and advertise for you for free. To expand your customer base, you’ll need to expand your network.
Frozen Food
Anything to do with food is a juicy proposition. The frozen food industry is profitable, but you’ll need a decent location to draw in more customers.
Similarly, it’s similar to the food industry, except that you’re trading in the freezer or storage, and you’ll need a constant power source to avoid rotting.
In Nigeria, a reliable power supply is a concern, therefore look for a place with a marginal power supply or an alternative to a central power supply, such as a generator or solar power.
If you choose to market online, be prepared to distribute to homes, stores, and enterprises.
Computer Repairs
Meanwhile, some are wondering if the computer repair business is lucrative or if computer repair is a smart career choice now that almost everyone has a computer. Okay, it’s a viable and profitable business enterprise, as well as a career with plenty of job prospects soon.
Also, if you have technical skills or a background in computers, beginning a small computer repair business with 100k in Nigeria in 2021 could be a terrific idea for you.
Furthermore, if you are passionate about the business or seeking for a business to start with N100,000 in Nigeria in 2021, you can study the talent.
Web Design Business
It is easier than you might think to design a website, but you need require web and visual design abilities. If you’re interested but lack the necessary skills, master the fundamentals of web design and progress while working as a professional.
Now that you’re ready, set up your work space, assemble your support team, create a business plan, decide what products and services you’ll offer, and advertise your company.
To begin with, you can see that this business falls under the category of enterprises in Nigeria that can be started with N100,000.
Social Media Manager
Another highly sought-after business that you may start in Nigeria with less than N100k in 2021. All you need is a smartphone or laptop if you have one, an internet connection, and the ability to use it. To become a social media manager, you don’t need a degree or a high level of knowledge in any sector, but you do require social media abilities. Even if you work full-time or part-time, you can do this job from home.
Because social media is all about communication, you should be prepared to work as a marketer, copywriter, and designer in addition to producing and maintaining brand promotions and corporate information for the company across all social media networks as a social media manager.
Phone Repairs
Similarly, in today’s environment, the phone repair industry is a viable and profitable venture. People nowadays carry multiple phones because there are so many of them on the market.
Do you know that the majority of individuals own phones but are unaware of their functions and operating aspects? Engineers are no exception, and they are constantly at the mercy of phone technicians, who can charge whatever they want to fix the phone.
Because there are so many phones in circulation, there are also so many phone problems that necessitate the use of phone technicians. It is an absolute business to start with $100k in Nigeria in 2021 if you have the knowledge or are prepared to master the talent. To add to it, you can add accessories to the business in the long run, but you’ll need a really busy area.
