Top 10 businesses you can start with 50,000 Naira in Nigeria
Are you looking for businesses you can start with 50,000 Naira in Nigeria? Entrepreneurship is fast gaining recognition among Nigerians who are no longer looking up to the Government to provide them with jobs. While several people want to own their businesses, not everyone can afford the cost of starting a business in Nigeria. However, there’s good news. You don’t have to break the bank to start a business of your own.
If you’re looking at starting a business in Nigeria with a budget of N50,000, below is a list of businesses you can venture into.
London Used Clothes
Virtually everyone is into the business of looking good. Ladies want to look their best and men aren’t left out of the picture. However, not everyone can afford the luxury of expensive boutiques. This is where Okrika – London Used Clothes comes in. These are clothes that have been worn before by a previous owner. Most people who invest in this business import it directly from other countries, i.e, London, hence the name – London Used Clothes.
Starting this business does not necessarily require you to get a shop. If you can’t afford one, simply make use of your house for as long as you need to.
Fast Food
Who doesn’t love good food? Not sure there’s anyone who can go forever without food. Seeing as food is a necessity, it is one business that is worth venturing into if you have a knack for cooking delicacies. A good way to start is by searching for the best and strategic location to start your food business. Another way this can work is by specializing in catering services – catering to events and parties.
Liquid Soap Production
Soap is one item everyone makes use of, it is a necessity in all households. Liquid soap production is a business you can start in Nigeria with N50,000 or even less. It doesn’t require expensive machines or tools to produce and can be ventured into if you’re in search of an affordable business to invest in.
Hairdressing / Barbing Salon
Opening up a salon is another business in Nigeria that you can start with N50,000 or less. If you can’t afford a shop, simply convert a section of your house into one. The most important thing is getting the essential tools needed to start your business. Once you have this sorted, you can scale up your business as time goes on and you have more clients to attend to.
Poultry Business
The poultry business is one business that has gained popularity over the years in Nigeria. With poultry, you can always start on a small scale and take it a step higher as time goes on. One major thing to put into consideration when starting this business is space. You need adequate space to accommodate the number of birds you’re starting your poultry farm with.
With poultry, you can invest in birds like Turkey, Chicken, e.t.c. for egg production.
Baking Business
Cakes and pastries are two food items Nigerians can’t get enough of. No party is complete without these two being served. One way to start this business in Nigeria with as low as N50,000 is by making small chops and baking cakes for various events. You can also bake some cupcakes and snacks for sale pending when you begin getting calls for bigger events.
Promoting your business on social media is one way to gain quick visibility thereby getting more people to patronize your business.
Make-Up Artistry
Another thing that goes hand-in-hand with a good fashion sense is a face beat to compliment it. Makeup artistry is one business in Nigeria that doesn’t require a fortune to begin. As a makeup artist, you can get people’s faces beat for several occasions like weddings, parties, and the list is endless. All you need is to get your makeup tools and all necessary beauty products required to make the business a success. Another route to the makeup business is by hosting makeup classes to teach people who are interested in learning the art.
Used Books
The reading culture in Nigeria is gradually improving as the days go by. While a lot of people love to read, not everyone can afford to buy a new book. This is where used books come to play. You can buy a couple of used books still in good condition and sell them to people at affordable prices. Choosing the right location is of great essence as it will have a huge impact on the growth of your business. For starters, you might want to consider a high traffic location or somewhere close to an office or school.
Fashion Designing
Next to food and shelter, another basic need of humans is clothing. Starting a fashion business is a profitable one once you have a suitable machine and a client base to work with. Getting your customers to refer you and promoting your business both one-on-one and on social media are effective ways to grow and boost your business.
Freelancing
Do you own a laptop and a good phone? Do you enjoy creating designs, writing, or managing social media pages? If you answer yes to either of these, then you’re well on your way to earning a living out of it. Perhaps you don’t own a laptop, you can always buy a used one at an affordable price. With the right tools, you can work from home as a graphic designer, writer, or even Digital marketer.
There you have it, 10 profitable businesses you can start with 50,000 Naira in Nigeria. One way to further boost and promote your business is by leveraging the power of social media. In addition, consistency, patience and hard work will get the job done.
Which of these businesses will you venture into and why?
