50K Business Opportunities You Can Start in Nigeria
So many people are losing their jobs because of the global pandemic. As a result, the number of people seeking business you can start in Nigeria with less than is on the rise. Are you worried that a new business will struggle this season?
Research shows that periods of financial and economic crises are the best for starting businesses. This is because there is more innovation and passion. Besides, most startup businesses at this time rise from a need to solve particular problems.
Without further ado, here’s a list of business ideas you can tap into with 50K or less.
Profitable Home Business Ideas Costing Less than 50K
Catfish Farming
Many people are scared of this business because it seems to be capital intensive. Well, that’s the wrong notion. Do you know that with 50K, you can start this business?
All you need is access to water and two big drums. This shouldn’t cost you up to 10K. Also, you’ll need to purchase fingerlings which cost about N2 each. Buying 200 fingerlings costs just N400. Finally, you’ll need some feed for your 200 fingerlings costing about 25K.
When your fish are matured, you can sell each for about 1K or more. Try to calculate how much profit that is.
Baking Business
If you have baking skills then one of the best businesses to start with little money is baking. Do you know that a lot of people want to buy pastries and cakes every day? Nigerians are very happy people and like to celebrate.
You can begin your business from your kitchen. All you need is an oven and some equipment. Once you have them, start promoting your business physically and on social media to attract patronage.
Popcorn Production
This is another one of those small profitable business ideas you can consider. You can purchase the machine for as low as 40K. Other things you need are corn, sugar, and butter. This business thrives on one strategy, location. People love popcorn so you need a location with loads of traffic.
Barbecue and Shawarma Business
The idea of a barbecue and shawarma already causes one to salivate. That’s how much Nigerians love both and patronize their sellers. If you have the skills, you can tap into this business.
The beauty is that you don’t even need to know how to make them. You can employ someone to help you out. The amount you make daily can pay the individual’s salary with sufficient profit leftover.
Graphic Design
Graphic design has become an integral aspect of running a business these days. If you have graphic design skills, you can be a solution-provider to other businesses. They need graphic design to advertise their businesses through several kinds of media.
Seize the opportunity to start your graphic design business. You can learn to use multiple graphic design applications like Adobe Photoshop, Canva, Corel Draw, Illustrator, etc. The more versatile you are, the more customers you will attract.
Content Creation and Freelance Writing
Do you have the ability to string words together? Are you a conjurer of words? Then content creation is one of the businesses you can start with less than 50K.
All you need is a laptop and internet connection. Even if you don’t have a laptop, you can work with your smartphone. There are so many apps you can use to create content for free. Some of the opportunities, in this case, include scriptwriting, copywriting, blogging, freelance writing, etc.
Tutoring Business
This is one business that has thrived on a new level since the beginning of the lockdown. So many kids are at home with nothing to do. Many other people are continually in search of resources to boost their knowledge base.
You can sign on different platforms to become a tutor. An example of such platforms is Prepclass where you are assigned a parent. Another way to tap into this idea is to upload courses to Udemy. This allows you to get paid for each student that enrolls. Finally, you can hold classes via your social media accounts like Facebook, Instagram, and Whatsapp.
Soap Production
This is one of those successful home businesses that doesn’t cost a fortune to start. Soap will always be in demand because people need soap for daily living. From bathing to washing clothes and dishes, the importance of soap cannot be overemphasized.
You don’t even need to be a pro at soap making to start. All you need to do is to learn the process, start making your soap, package it properly, and sell. You can take advantage of social media to sell your wares while distributing physically to supermarkets.
Plantain Chips
This is one of the most eaten snacks in Nigeria, especially among commuters. All you need to produce is raw plantain, oil, frying pans, and packaging. You can get all of these under 50K.
Packaging your plantain chips is one of the most important aspects. Unique packaging will attract more retailers and customers. You can reach out to retailers to sell on your behalf so that you can have enough time to produce.
Web Design
Do you have web design skills or you are willing to learn? This can become a huge business in your hands. So many businesses desire to have websites these days and you can become their plug.
The success of this business rests on how much you can market your skills. Social media will do you a lot of good and you can also consider building a website for your business too.
Selling Phone Accessories
This is another successful home business you can begin with less than 50K. You can sell things like chargers, batteries, memory cards, USB cables, etc. This business also needs you to be in a very busy location to be successful. One way to succeed in this business is to partner with an existing phone seller.
Conclusion
Now that you have these ideas, what are you waiting for? Startup businesses are among the greatest employees of labor that exist. Don’t wait for another second, start today!
