Making money in Nigeria can be quite uneasy, we compile a list of 10 Business Ideas You Can Start with ₦50,000 In Nigeria.
These days, there have been so many competitive businesses, and of course, they require a huge amount of capital, to kick-start.
Despite this, the frequently asked question is always, what business can I start with 50k? Or most times, people do say I have money, but I need business ideas that are profitable.
In this article, we have compiled 10 Business Ideas You Can Start with ₦50,000 in Nigeria. You might be wondering if it’s possible, with the high cost of living in the country, but it is. With determination, focus, and consistency, you can turn the 50k into millions.
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10 Business Ideas You Can Start with ₦50,000 In Nigeria
Checkout the Business Ideas below:
1. Phone Charging Business
Phone charging is one of business ideas in Nigeria. Nigerians have been complaining for a long time about the unavailability of safe and constant power supply.
The audience for your business is not the ones with alternative sources of power supply but the ones without it.
A large wooden board with many switches will accommodate lots of phones, and a power source is all you need to run this business.
You should get all of these with 100k or less.
Things you need to start a Phone Charging Business
- Generator
- Fast Phone Chargers for Iphones and Different kind of Laptop
- Board with many switches
- A space or location
2. Natural Skincare Production Business
Recently, organic skincare products have become very popular. People across the board want to replace inorganic chemicals with organic ones since they’re more aware of adverse effects from inorganic chemicals in skincare products.
As long as you have your materials and containers, starting a skincare business is very affordable. You can purchase containers in various markets.
Organic skincare products are usually fast-moving consumer goods, so you start making a profit from the first batch of handmade soaps, body creams, body scrubs, etc. You can help yourself be a pioneer in the field by producing and selling skincare products.
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Things you need to start Natural Skincare Production Business
- Packaging
- Container
- Raw materials
3. Dry Cleaning Business
Working a 9 to 5 job or running around to ensure your business is running smoothly can be exhausting. Weekends should be spent relaxing after a busy week, as well as spending time with family.
The majority of people will pay for these services when they have this kind of a busy schedule. To start, contact the families who need this service so you can serve as many as possible.
If you start a dry cleaning business, you will only need a small washing machine and an iron. You can start small, then expand as the business grows. You will get paid anywhere between N3000 and N10,000 per family depending on how you package yourself.
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Things you need to start a Dry Cleaning Business
- Washing machine
- Iron
- Soap
4. Pop Corn Production Business
Popcorn comes in a variety of sizes and flavors. It is a treat loved by almost everyone, young and old, male and female. Popcorn makes an excellent movie accompaniment.
Thus, this business idea is a winner. All you need to set up a small popcorn business is fresh and moist corn, a popcorn machine, sugar, salt, butter, and any other flavor you wish to add.
Things you need to start a Pop Corn Production Business
- popcorn machine
- Corn
- Other ingredient
5. POS Business
POS Business is one business idea. Many people find it difficult to go to an ATM or bank because it feels like a punishment. In place of going to a traditional bank or ATM, some prefer to use their mobile device to conduct their banking transactions instead.
If you want to own an e-payment outlet, you can become a banking agent. The first step is to register with any bank of your choice. Following registration, you will be given a POS system.
POS is available at some banks for free, while at others a small fee is charged.
Things you need to start a POS Business
- POS system
I wrote extensively on 6 Easy Ways On How To Start A POS Business In Nigeria
6. Phone Accessories Business
It is possible to start a business selling smartphone accessories for N100,000, including phone casings, and earpieces, as well as screen protectors, among other kinds.
The reason why this business is profitable and lucrative is that there is an immediate demand for these products.
Just get a perfect location for this business, then boom!
Things you need to start a Dry Cleaning Business
- A Location
- Smartphone accessories such as pouch, batteries, chargers, earpieces, powerbanks, Screen protectors, Mp3 speaker.
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7. Food Stuff Retail Business
Consider selling rice, beans, and garri in a store, selling them in cups. You can also sell all these and other items at your convenience.
A bag of rice goes for N20,000. That means you will make N6,500 per bag if you sell 100 cups per bag. A bag of rice consists of 250 cups, offering a minimum of 27,000 Naira.
Things you need to start a Dry Cleaning Business
- A good location
- Retail goods
8. Suya Business
Since I was a child, Suya – grilled cow meat that is primarily made by the Hausa tribe, has been a family favorite. To this day, children and adults alike enjoy this treat.
Despite its popularity, grilling any of these ‘proteins’ is not exclusive to mesh (such as suya) as anyone can put up a grill and offer these delicacies to customers.
You can go grill at parties, dinners, birthdays, etc. in addition to having your own permanent stand.
Things you need to start a Suya Business
- Goat meat
- Suya pepper
- A buzz location
9. Salon And Hairdressing Business
There is a thriving salon and hairdressing business in Nigeria. You don’t need a lot of capital to get started, you just need weaves and basic tools to get started, as well as a basic knowledge of hairstyling.
Things you need to start a Salon And Hairdressing Business
- A location
- Basic salon tools such as combs,
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10. Liquid Soap Business
One of the Business Ideas is Liquid Soap Business. Making soap is a simple process and there are countless tutorials that you can use.
This business is highly demanded as hygienic activities like washing plates, clothes, walls, floors, and floors will always be conducted as part of this service. Customers of this service are throughout the world.