How To Start A Profitable Business With A Low Capital
We know the year is just getting started and a lot of you are thinking of a good business to start up as a main hustle or side hustle. so read on lets share some mind blowing ideas with you.
There are so many business to start with 100k in Nigeria and be successful, but sometimes you may find it difficult to think of such businesses thereby investing your money in the wrong business.
If you are confused about the type of business idea to start with 100,000 naira and be successful, then you are in the right place.
So many businesses in Nigeria started small and then grow to what they are today.
Having 100,000 naira to start a business is not the problem, but your ability to grow and expand the business.
Below are the business ideas you can start with 100,000 naira and be successful.
1. Cooking And Delivery Business
Cooking and delivery is a best business to start with 100k in Nigeria. Everybody likes food but not everybody can cook tasty food.
Moreover, nowadays people find it difficult to cook because of their busy schedules. Some families eat processed food which is not good for their health.
If you have the cooking skill and a passion for cooking, you can easily start this business with less than 100,000 naira.
You do not even need to rent a shop for this business, you can cook in your house and deliver it to customers in their homes and offices. You can also cook and sell at a busy junction.
Basic Things You Need To Purchase when starting your cooking and delivery business are:
A gas cooker
Pots
Pans
Plates of different types and sizes
Grinder/blender
Coolers/stock pots
Spoons and forks of different sizes
Toothpick/serviettes.
It’s not necessary you buy everything at a time, buy what your money can afford, and subsequently when you start making profits buy the remaining ones.
2. Car Wash Business
In this era, the car wash business is one of the most lucrative businesses anybody can start with 100,000 naira.
Nowadays many people do not have the time to wash their cars, some are stressed after the day’s work and some cannot wash their cars well and the only option they have is to take it to the car wash.
Car wash is a business you can start anywhere there are many cars and adequate water supply.
The car washing business thrives at every season—the rainy and dry season—in Nigeria, so you won’t have any drawbacks while operating the business.
Moreover, a good location is essential for starting a car wash business. You need to choose a place that is visible to everybody.
If you cannot rent a place, you can go from house to house to wash cars for people. No doubt car wash is a great business to start with 100k in Nigeria and be successfully.
Tools You Need To Start Your Car Wash Business
Car wash machine
Water supply
Storage tank
Generator set
Bucket, soap/detergent
Brushes for tyres
Towels, etc.
3. Selling Of Fairly Used Goods Or Clothes
Another business idea you can start with 100,000 naira is selling fairly used goods and clothes.
Most Nigerians buy fairly used items like gadgets, clothes, shoes, household items, etc. You can purchase these items and sell them both online and offline.
Again, with 100,000 naira, you can start selling thrift wear popularly known as okrika. Plenty of people prefer buying Okrika to brand new clothes.
Moreover, the poor economy of the country has made people buy what they can afford and not what they wish to buy.
Where To Buy Okrika Clothes In Lagos are:
Balogun Market
Yaba market
Tejuosho
Aswani market
Oshodi market
Katangua market
Badagry market, etc.
4. Laundry Business
This is a business idea that is very lucrative, yet easy to start. Nowadays, people are so busy that washing clothes are not on their agenda, and this has created job opportunities for people.
A good location is important to your laundry business. It is advisable to consider locations in open places with less competition where people can see you easily.
Your location should be residential areas, estates, or high-income neighborhoods, and a place you can easily access clean water, etc.
Basic Materials For Starting A Laundry Business
Buckets
Laundry detergents/soaps
Pressing Iron
Ironing board
Starch
Garment conveyor
Nylon and tags
Power generator
Shelves
5. Palm Oil Business
If you are still not satisfied with the business ideas I’ve mentioned above then you need to consider the palm oil business.
The palm oil business is one of the most profitable businesses anyone can do in this era because of its diverse usefulness.
Almost everybody uses palm oil to cook, you can even decide to be exporting it to other countries which would generate much income.
Moreover, palm oil does not have a steady price, you can buy and store palm oil when it is cheap and sell it when it becomes expensive.
Things To Consider When Starting Your Palm Oil Business..
Below are the top important things you should consider when starting your palm oil business.
Choose your palm oil business model
Get your storage space and storage tanks.
Get your rubbers
Arrange with suppliers
Decide on transport arrangement
Market and sell your palm oil.
6. Fruit Drink Production And Sales
This is another profitable business to start with 100k in Nigeria, and be successful. A growing number of people prefer freshly squeezed juice without coloring, flavors, and preservatives.
Moreover, people are becoming increasingly aware of the health implication of processed food and drinks, this has made people shun soft drinks to naturally made fruit drinks making this a great business opportunity.
To start this business, there are certain things to do and you will also need a very good location that will enhance sales. Location to sell your fruit drinks options are:
A roadside stand
Shopping mall
Fitness centers
Cafes
You can sell it wholesale to grocery stores or restaurants. Moreover, to start this business, you need to purchase manufacturing equipment. Basic manufacturing equipment includes:
Fruit elevator
Fruit washer
Fruit crusher
Pre-heat machine
Juice extractor, etc.
7. E-payment/POS Business
POS (point of sale) business is a cash-making business that has gained serious popularity.
Some people hate queueing in banks to withdraw money, they prefer using POS that is even closer to them even though they are charged a transaction fee.
With 100,000 naira, you can become a banking agent and own an E-Payment outlet. You can get your POS from the bank.
To become an agent, you would need to go to the bank of your choice and do the necessary registration. After the registration, you would be given a POS machine.
Banks give POS for free but terms and conditions apply. Moreover, banks charge you a certain percentage for every transaction you perform. Learn how to start a POS business in Nigeria.
Banks To Get The POS Machines
Below is a list of some of the banks that gives POS machines in Nigeria.
Zenith Bank,
First Bank,
Access Bank,
Eco bank,
Skye Bank,
Fidelity
Diamond bank, etc.
Each bank has its mode of operation, you just have to go and get details on what is required to get a POS machine.
7. Popcorn Business
Popcorn business is one of those businesses that are yet to be fully tapped. Popcorn business is self-sustaining, it can make someone wealthy over time when there is consistency and dedication.
Popcorn is a snack gotten from the popping of corn from a heated surface.
Many people love popcorn, therefore you can’t go wrong exploring this business idea.
The business is not stressful, it does not waste time, you can start with a small amount of money, grow and manage it alone at the comfort of your home.
To sell your popcorn very well, you need to target supermarkets, schools, canteen, hotels, stores, eateries, markets, etc.
It is also advisable to position your popcorn machine on a busy road, market, high commercial area, etc for more sales.
Ingredient Needed For Popcorn
The following ingredients are what you need to make Popcorn.
Corn
Sugar
Salt
Vegetable oil
Butter
Flavor
Powdered milk
Items Needed For Popcorn Business
Big bowl
Showcase
Nylon
Popcorn machine
Scooping spoon
Gas cylinder
8. Mini Importation Business
Mini importation business is one of the best profitable business to start with 100k in Nigeria and be successful.
People are making money importing goods from other countries cheap and selling them expensive here in Nigeria.
You just need to do your marketing right if you want to excel in the business.
Before you venture into the mini importation business, you need someone to guide you, and also, you need to start with the products people buy most. You need to do your market survey before ordering any goods.
You can import from China or any other country depending on what you want to sell. Learn how to start a mini importation business in Nigeria.
Things You Can Import Are:
Phones
Travel bags
Earpiece
Clothing’s
Electrical appliances
Grater
Blender
Portable USB best lamp
Jewelry
Wireless phone chargers, etc.
9. Agricultural Business
Presently, the agricultural business is very profitable in Nigeria as farm products are consumed daily.
Before you venture into the agricultural business, you need to have basic knowledge of the area you want to explore.
There are a lot of agricultural business ideas aspiring entrepreneurs can go into with 100,000 naira. These Agricultural business ideas are:
poultry farming,
snail farming,
Vegetable farming
Mushroom farming
Plantain farming
Catfish farming,
Rabbit farming
10. Food Stuff Business
Food is one of the basic needs of human beings, and so one cannot survive without it. This makes food stuff business one of the best business to start with 100k in Nigeria and be successful.
Foodstuffs sell very well because of their gross importance in human life. With 100,000 naira, you can start a foodstuff business at any location where people are.
Furthermore, before starting a foodstuff business, you must know the type of raw foodstuffs you want to sell, then you source for suppliers who are farmers.
You can sell them both online and offline depending on the provisions you’ve made for transportation.
Examples of foodstuff to sell are:
Rice
Beans
Corn
Garri
Potato
Cocoyam
Crayfish
Yam
Flours, etc.