Starting a business in Nigeria can be difficult to execute. This is mainly due to the fact that many types of companies require a lot of money to get started and therefore scare many people even to try to start, run or grow a successful business.
But if there are lucrative businesses in Nigeria you could start for 50,000 Naira or less?
This is a question that many entrepreneurs aspire to, but rarely get reasonable answers. To answer this, we have listed 10 profitable business ideas in Nigeria that you can start with 50,000 Naira or less:
1). Property broker:
Brokerage is one of the most lucrative businesses you can start with for less than 50,000 Naira. This includes finding a buyer for a particular merchandise for a seller of the same merchandise, and then mediating the transaction to get a commission for each successful sale.
For example, if you mediate a 5 million Naira transaction between a buyer and a seller for a 5% transaction fee, you will earn 250,000 Naira.
Most importantly, you don’t need to spend a lot of money to help resource buyers, except in terms of the internet and transportation.
Some assets you can mediate include homes, oil and gas products, solid minerals, and more.
2). Website design and development:
This is a business that requires little or no investment to get started, unless with the purchase of a computer, the second hand value of a base can be bought for around 40,000 Naia before upgrading it.
The design and development of the website is based on the ability, that is, that the person providing the service uses their intellectuals to execute and perform the work. At this point, the customer is expected to pay a certain percentage in advance before the programmer starts building the online platform.
You can learn web design through e-books or at a computer training institute and use their resource-free incentive to generate a lot of revenue for companies looking to build websites for themselves and more.
3). Professional writing:
The professional writing business is becoming more and more popular and profitable than ever, with more entrepreneurs, students and people looking to get business plans, business proposals, theses, dissertations, university projects, speeches, letters, publications of blogs and much more written about them. .
These groups of individuals go online to find professional writers they can use for their writing requirements. Writers also continue to find perspective in schools, entrepreneurship programs, the Internet, and more.
If you have great writing skills, you can create an elaborate SEO website and market your service to a large number of people looking for companies like yours.
4). Social media promotion and management
This is a business for people who constantly act on social media. They may or may not have a large number of followers, but they understand what it takes to get a brand in front of an audience that only wants to participate.
If you have elite social media management skills, you can market your services to large or small businesses to manage their social media accounts for a monthly fee. If you have a large number of followers, on the other hand, you can help brands promote their products for a postage amount.
5). Business learning:
Tutoring is a service-based business that can be conducted by educated people who advertise their services through various means. Typically, school teachers are the ones who have a wider exposure to parents with the goal of getting their children to be tutors in the private home, but with the growth of many online learning platforms like PrepClass , you can easily register from home and partner with a parent.
In addition to tutoring a particular home, you can create an online course where you teach people about a particular topic, then upload it to a website like Udemy, and pay each time someone signs up to participate in your course.
6). Banana chips production activity:
Banana chips are literally the second most popular food after beef wheels sold in Nigerian traffic. People hooked on traffic, especially in Lagos, constantly come to street vendors to buy chips and drink.
You can take advantage of this low-cost business opportunity to make tokens and sell them through people who sell traffic snacks or kiosks in public places like bus stations, schools, and more.
7). Soap production:
Soap production is another business that can be started by less than 50,000 Naira in Nigeria. Here, the soaps that are widely produced and sold are liquid soaps and can be made for washing clothes, dishes or even for washing, after which they are sold through a supermarket chain, which they usually pay inside. of one week supply.
You can start entrepreneurship in soap production, brand your product and start distributing supermarkets to various local governments.
8). Small-scale agriculture:
Some small-scale agricultural business ideas and opportunities, such as grass farming, snails, poultry and more can be started with less than 50,000 Naira if you leave the garden with minimal resources.
9). The art of cosmetics:
There are so many well-known make-up artists today that make the lucrative nature of entrepreneurship push many women to want to become one. With weddings, fairy tales and events taking place every weekend, some make-up artists make over 150,000 Naira from some customers simply by applying their art. Some have cosmetic studios where you can visit for an urgent facial adjustment, while others run the creative art of makeup that is used in movies to create different looks on a person.
You can introduce the lucrative nature of the cosmetics business if you have an extensive network, pay a modest fee based on the client and the nature of the work, and gradually grow from there.
10). Professional printer:
Many people are in business to help people print their greeting cards, invitation cards, billboard ads, letterheads, and more. They do this by contacting some printers in well-known low-cost printing areas such as Shomolu in Lagos and helping customers perform their professional printing services after receiving a deposit.
You can do business in this business by first contacting a wide range of low-cost printing companies in popular printing countries and partnering with graphic designers who can target your customers. You can also hang out at printing sites and exchange your service with people who want to print something.
What do you think of these ten lucrative business ideas in Nigeria that you can start with 50,000 Naira or less? Let me know by leaving a comment below.