Are you looking for a business to start with less than $100? Often, one of the hurdles of starting a business for many is not having enough capital to launch. With today’s advancement in digital technology, it is easy to establish or own business with little or no money upfront and even has the potential to scale beyond. The main costs associated with starting a business are usually advertising and marketing costs.
SMEs sporadically springing up, especially in Nigeria, is due to lack of employment opportunities. Even though there are persistent challenges for SMEs like lack funding and capital according to PriceWaterhouseCoopers (PwC), Nigeria SMEs contribute 48% of national GDP, account for 96% of businesses and 84% employment.
The key to starting a profitable business with as little amount as possible often revolves around knowing the lowest cost way to scale. There are countless businesses you can start with less than 100 dollars. Here are a few businesses that you can start with less than $100.
Seven Businesses You Can Start with less $100 in Africa
Food Delivery Business
Many people in Africa, especially women, are more inclined to be in the working class populace. This is a great business idea that allows you to work from home in your kitchen without any initial cost. And all you have to do is to find clients who are willing to have you make meals either daily or weekly, depends on the plan you have mapped out for them.
With a capital of less than 100 dollars, you can start advertising on social media; create a page solely delegated to your food delivery business, run a few Facebook ads and start a community based on who your target audience is.
Consulting
Consulting is also a big business you can start in Africa with no initial capital. All you need is your expertise, knowledge and experience. Before you start a consulting business, make sure you are well-grounded in a specific area. Consulting involves helping individuals proffer a solution to an existing problem or figure a way they can do something better.
It could be providing legal advice or showing businesses how to run more smoothly, or advising brands and companies on how they can run their PR or their reputation management online. The main costs only involve marketing your business and networking, so invest in a website and business cards, or even a social media page.
Tutoring
Teaching can be a lucrative business. There are a lot of people who need help in different areas of their lives or even students who struggle with different subjects in schools and need a tutor to assimilate better what has been previously taught by their teachers. Suppose you have the knowledge and can boast being an expert in a particular subject.
In that case, you can start a tutoring business by assisting students ranging from elementary to college level. Tutoring can be physical or virtual. When starting physically, all you need is transport and lunch money as it involves leaving your home to the clients’ home. While tutoring virtually, requires that you have a working data plan and electricity to power your devices.
Rentals
In this digital era, where many content creators and influencers are springing up, photoshoots are the deal of the day. Most of these content creators and influencers rely on having their pages look good so they can attract their target audience. To make this happen, they need photoshoots alongside costumes, cameras, and props that make their photos come alive.
Instead of purchasing, many may opt to rent, not just content creators and influencers but brands who are trying to leverage on social media marketing. You can rent out things ranging from your camera to your furniture or dresses. Try starting with a niche and slowly work your way up. For example, you could start renting photography props or costumes for ads. If you don’t already own them, you can purchase them all for less than $100. Start with the equipment people need and are willing to rent.
Menu Planning
When it comes to food, many people are poor planners. Eating just to keep strength alive, relegates the essence of why we eat. Instead, we should eat to nourish. This is a problem, a menu planning business solves, to help people make the right food decisions.
They are people who are willing to hire someone to help them plan out their meals in the right proportion and appropriate nourishment. This is a low-cost idea for anyone who enjoys working with food but doesn’t have the resources to prepare and serve it. You don’t have to know how to make those meals, but you need to know how to help restaurants, hotels, cafes or individuals organise their meals.
Personal Shopper
As a personal shopper, only you need to do is to help people shop or run errands. Your target audience is mostly people who are too busy or simply unable to shop themselves. It’s a business you can run from home with your laptop and is ideal for someone who loves to shop.
The initial capital of starting only revolves around running ads on social media to attract potential clients and paying for logistics to have the items delivered to the client’s homes. When you start, the only thing you have to do is interview clients to get an idea of their tastes and their dislikes. And what you might help them shop, may include groceries and other necessary items, but most often clothing and accessories.
Social Media Consultant
Businesses and individuals are always on the lookout for people who can manage and maintain their social channels for them, and many businesses will pay lucratively for these services. The good part is that you don’t need a lot of capital to start, just establish yourself as an authority in a niche to get noticed by clients.
Conclusion
Starting a business with less than $100 is no brainer, some require expertise, others require little or no money. With the advancement of digital technology, you can start any business effortlessly without a need to spend so much.