Did you know there are several businesses you can start with less than N100,000 in Nigeria despite the seeming tough economy? Yes, you read right! With N100k or less, you can start a good business and live within your means comfortably.
In this post, we feature small businesses that can be started on a tight budget with N100,000 or less, If you want to know what you could do with 100k, NigerianWiki has put together a list of profitable businesses if you wish to start a business idea with limited start-up capital.
In no particular order, below are the top 5 businesses you can start with less than N100,000 or less in Nigeria:
5 Businesses You Can Start with Less Than 100k in Nigeria
1. Mini Importation
With a capital of about a N100k or less, you can conveniently venture into the mini importation business which is about 95% risk-free! So profitable is the business that the only idea you need to know before running is to fully grasp what it entails and how to source for cheaper products and where to source. We won’t be wasting much time on this in this post. To read more, check ‘How to Start Mini Importation Business in Nigeria’.
2. Cake Making
Cakes represent seasons and times especially birthday celebrations, everyone keeps growing and majority will least buy sets of cakes to mark their birthdays. Fortunately, these seasons and times come every day! So that means you can never be out of business if you venture into it. It is not just enough to know how to make cakes… The important aspect is getting customers who would not only patronize you but also put in good words for you before others. You can print flyers and market digitally or do a word-of-mouth awareness within your vicinity.
3. Popcorn Making
All you need to start this business is a machine, nylon, corn (maize), sugar, salt, and butter. The manual sealing machine sells for less than 10k, and as well Popcorn Machine costs around N65,000 on Jumia. Popcorns can be served at birthday parties, schools and on various occasions. If you add some uniqueness to your popcorn, you can easily stand out and take control of your vicinity and even get overwhelmed with orders and requests in no time.
4. Home Cooking/Delivery
If you know how to cook, it is as easy as 1-2-3 to cook your goods and sell it to neighbours, family, and friends. If the food is good and the prices are attractive, you can cook a variety of meals well and apply customer service. People will pay good money for your services, and you can run this from home, cook and deliver. Most times you get part payment before cooking. So, this business is definitely profitable for any good cook and quite a catch. Adding social media presence to your services will no doubt get you maximum attention and more customers.
5. POS Business
POS business is one of the trending businesses in Nigeria today. It is among the businesses to start with 100k and strives better in areas where banks are not situated. Get a POS machine from your bank or from a pos machine dealer and activate online payment. That’s all you require and yes! For every withdrawal via your POS, you can charge 5%.
***Note that it is not enough to think capital is all you require before venturing into any business. Do a proper assessment of your passion, your target audience, the dream you have for the business and possible limitations based on your immediate environment.