Ten most profitable businesses with low capital in Nigeria
Today, there are several profitable businesses with low capital in Nigeria. Nigeria, regarded as the Giant of Africa, potentially has the largest economy in Africa. Its labor force continues to increase with a massive populace of over 200 million people.
While Nigeria provides a large market for commercial activities, it is also plagued with an infrastructural gap and a high unemployment rate. It has now become important for potential entrepreneurs to build profitable businesses across various sectors and industries.
Do you dream of building a profitable business in Nigeria? With the vast opportunities available, you don’t need huge capital to start your own business. In this article, we have created a list of some of the most profitable businesses with low capital that you can start today.
Here’s a list of some of the most profitable businesses with low capital:
Social media marketing business
Do you know that social media has become an essential strategy for business growth? With a global social media usage of 3.78 billion, social media has become a profitable business tool.
Social media marketing involves using social media platforms like Facebook, Instagram, Twitter, LinkedIn, and so on for business promotion.
According to the digital marketing skill institute, 90% of Nigerian businesses use social media to target and build customer relationships. This means that more and more businesses require the services of a social media marketer.
You can start your social media marketing business and help them promote their products or services online. All you need is an internet-enabled device, your skills, and a determination to succeed.
Fortunately, social media marketing is a skill that you can learn easily. You can check out various courses online to become an expert in this field.
Catering business
Food will always be an essential commodity. If you love to cook, this is one of the most profitable businesses with low capital you can start. For one, you will always have a market. You can offer your services at different events, parties, offices, and even schools. All you have to do is differentiate yourself from the competition. Here are a few tips to help you succeed in the catering business:
- Make delicious quality food. Ensure that you expand your menu and make delicious food that your customers will love.
- Offer excellent customer service.
- Develop good managerial skills.
- Ensure a clean and well-sanitized environment.
You can start right from your kitchen and offer delivery services to customers. Also, you can make use of online marketing to increase awareness and reach a wider audience. As you expand, you can set up a physical store.
Car wash business
In urban cities like Lagos and Abuja, the number of car owners is enormous. Most people are unable to find the time to wash their cars amidst their busy schedules.
You can start a carwash business to meet this demand. All you need is a small space close to a major road with a good water source. As you expand, you can proceed to get full car wash equipment.
Dropshipping business
Dropshipping is one of the most profitable businesses with low capital you can start. It involves buying goods from a third party and then selling to customers. The great thing about dropshipping is that you do not need a physical store or goods! You can set up your online store in your business name but get inventory from a third-party seller. You can identify what goods you want to sell and go to sites like Aliexpress to buy them.
All you need is an internet-enabled device and social media accounts.
Mini- Importation business
Mini-importation has become a popular yet profitable business in Nigeria. All it takes is identifying what goods you want to import, getting it down to Nigeria, and then selling to consumers. You can buy these goods on sites like Alibaba and Aliexpress.
Taxi driving business
Transportation businesses like Uber and Bolt have become popular among many Nigerians. All it takes is an app, and users get access to cars that can take them around the city.
You can start your own Uber driving business. All you need is a car and to meet some other requirements of the company. Yes, a car might be expensive to get, but this is nothing compared to how much you will be making.
Tailoring/fashion designing business
If you have a passion for clothing and fashion, this is one of the most profitable businesses with low capital that you can start today.
All you need is your sewing machine and other equipment. You can start right from your home and even offer delivery services to customers. You can also advertise your business on social media to promote your business and reach a wider audience.
Home tutoring business
Home tutoring is an evergreen business that can bring you profit in a short time. There are lots of parents who need tutors for their children. You can turn your tutoring passion into profits by offering your services to these children. You can teach them different school subjects you are good at. All you need is your skills!
Dry cleaning business
This is another profitable business you can start with low capital. While some people might overlook this business, it has the potential to bring you profit in a short while. With a washing machine and iron, you can wash and iron clothes for customers. You can advertise your services to people in your local community. As you expand, you can switch to large equipment and expand your services.
Beauty/cosmetics business
Beauty and cosmetics products are ever in demand, especially by women. You can make natural beauty products and sell them to women who need them. Also, you can decide to go into the area of makeup and sell makeup products to women. You could also decide to offer home spa treatments or makeup services to customers.
Conclusion
There you have it. There are lots of business opportunities to venture into in Nigeria. We have highlighted the most profitable businesses with low capital you can start right away. Remember that determination and patience are fundamental to succeeding in business. Take that first step today towards your dream.
Do you have questions or suggestions on SMEs in Nigeria? Kindly drop them in the comments section!
