Starting a business in Nigeria can be expensive to execute. This is due to the fact that too many many businesses require a lot of money to start up and for this reasons those who have great ideas are not able to execute them.
Getting a loan is not also easy for many because the requirements can be quitewhat if there were profitable businesses in Nigeria that you could start for 50,000 Naira or less?
This is a question many aspiring entrepreneurs ask but rarely get reasonable answers to. Fifty thousand is indeed a lot of money yet looking at the country’s economic situation one can raise such an amount within a short time.
We’ve listed 7 profitable business ideas in Nigeria that you can start with 50,000 Naira or less.
1. Soap Production
Soap production is one lucrative business that can be started for less than 50,000 Naira in Nigeria. Dishwashing liquid and bar soaps are widely used for washing clothes, plates, or even bathing.
A number of skill acquisition centers offer training on how to make these soaps and the ingredients required are readily accessible. This is something you can do from the comfort of your home and sell to stores around you
You could take a step further and brand your product, and start distributing to supermarkets in various local governments.
2. Fast Food Business
Everyone needs food to survive and this one of the reasons why the fast food business keeps thriving. You can set up a mini restaurant with 20k to 50k and start making money from it.
You can even deliver to companies during their break time in saving them the stress and time going out to look for food by bringing it to them at the office. Social media has equally made things easy by offering a free advertising platform all you have to is to target the right audience and give them reasons to patronize you.
3. Dry Cleaning Business
This is another great business idea. It is true that many homes now have washing machines yet how many have the time to do their laundry themselves? You can start this business right from your home with less than 50k.
If you have money to invest, get a washing machine and start doing it right in your home till you are able to raise cash for a walk in shop.
The professional writing business is getting increasingly more popular and lucrative than ever before with more entrepreneurs, students, and people seeking to get business plans, business proposals, undergraduate projects, speeches, letters, blog posts, and much more written for them.
If you have great writing skills, you could set up an SEO-ready website and market your service to a bulk of people who would be searching for businesses like yours.
All you need is your writing skill, internet service, and a laptop. This is something you can do from the comfort of your home.
5. Fish Fingerlings Production Business
If you have interests in Agriculture, then you can venture into this business as it very lucrative but it requires some skills. There are places to acquire the skill in most cases it cost you nothing.
The process of producing fingerlings is easy, the only important thing is getting buyers ready before production. This business is really profitable because you can make up to 50,000 Naira on your first production without spending more than 4,000 nairas on fingerlings.