The best approach to a successful business career is starting small and scaling up. Some young entrepreneurs always think that they must have millions of naira in their account before they would be able to start and run a successful business. But the truth is that there are some profitable business you can start with 50k and be making huge income.
Over the month, we have kept receiving almost the same questions as “What business can I start with 50k in Nigeria ? Is there any business to start with 50k in Nigeria? Can I start Business with 50k in Nigeria?”
Looking at the economic nature of the country, one might think that there would be no possible business to start with 50k in Nigeria.
But I would really want to tell you that 50k is never too small to start a business as there are actually so many business you can start with 50k in Nigeria and make your money. Instead of you to continue waiting to have billions of naira before starting your business, why not start from somewhere and scale up!
The best way to start your entrepreneurship journey is by starting as little as possible. Since you may still be new in that business, you cannot really afford to risk a huge amount of money into uncertainty.
This is why you need to make a prototype, you need to test the market first before starting, scaling and expanding to the size of your choice.
What Busines Can I Start With 50k?
Do you have 50k and you don’t really want to spend it wastefully? The good news is that you can actually use that 50k to establish yourself, you don’t really need much capital before you can start a successful business.
So, if you really want to start business without minding how little your capital is, then checkout below for profitable business you can start with 50k:
- POS Business
- Okirika Business
- Popcorn Business
- Fast-food business
- Snail Farming
- Small Scale Poultry Business
- Cassava Farming
- Rice Farming
- Scrap Business
1. POS Business
POS business is no doubt one of the most lucrative small scale business you can start with 50k in Nigeria and even earn more than a Bank manager. One interesting fact about POS is that there is no limit of profit you can make in a month, it all depends on how good your location is.
It may sound very surprising that if you are in a good location, you can be making up to 200k in a month with just POS business. Meanwhile you may not really need huge amount of money to get started, as 50k can actually set up the business for you.
- Read Also: How To Make Over 150k Monthly With Opay POS Business
- How To Apply & Get Opay POS Machine For Your Business
2. Okirika Business
Have you been searching for a business to start with 50k in Nigeria? Then Okirika business would really be a nice option for you.
I could remember one certain time a Corps (NYSC) member asked me: “I saved only 100k during my service year, please what business can I start with 50k? Is there any business to start with 50k in Nigeria? Can I start a business with 50k in Nigeria?”
He just finished his service (National Youth Service Corps) and wanted to just lay his hands on something no matter how small; he just needed a business to start with 50k, instead of moving from Pilar to post, in search of job.
So, I knew it was going to sound embarrassing to him, but I had to tell him the truth. I thought of a possible business one can start with 50k in Nigeria, then Okirika business just popped up in my mind. I just told him, “why not try Okirika business?”
This really sounded odd to him, because he couldn’t imagine himself as a graduate selling Okirika.
But I had to let him know that it doesn’t really matter the business you do as a graduate, or how many people that are already in the business. Rather what matters is your ability to stand out as a graduate, your ability to set your own business in a different way, as a graduate.
My greatest joy today is that this Ex – Corps member later gathered the courage to go into Okirika business without minding what people may say about him.
And today, he already has one of the biggest boutique in his town. This is why I said, in the field of entrepreneurship, you must not wait to start big; start from where you can lay your hands, and scale up.
So, if you are still asking: “what business can I start with 50k?” then I am also introducing Okirika business to you.
Okirika is a common local name used in Nigeria to refer to selling of used clothes.
You can start buying used clothes from some popular cities like Lagos, Onicha, Aba, and so on; and selling them to the best places they may be needed most.
And the assurance is that, Okirika business is a very lucrative business, and doesn’t require much money to get started.
3. Popcorn Business
In this business, all you need are just: a nylon sealer, which you can get for about N1,900; popcorn maker, which you can get for about N29,000; Maize, which you can get at least 50kg bag for about N13,500; Ingredients for about N3,500; and other little things you may need.
You may really be surprised at your monthly profit from popcorn business especially if your location is nice.
4. Fast-food Business
Fast food is usually in form of a mini work-in restaurant that offers some sorts of wait-and-take foods like Noddles (indomie), Pap, Bread & Tea, and the likes. You can even spice up your fast food business by adding other popular foods like rice, garri, fu-fu, and so on. So, if you are actually good in cooking, I think you should harness the opportunities in this business.
Regardless of your gender, you can actually venture into this business and start making your cool money.
You may not really need much capital to start up, once you are able to rent a space, I think you are good to go, as your little cash can actually buy the few foodstuffs you need to startup.
5. Snail Farming
Snail farming otherwise known as Heliciculture, is one of the most lucrative business that don’t require much capital to start in Nigeria. It is a very profitable business you can start with 50k and earn massively on monthly basis.
Though snail farming is very lucrative than one can imagine, but it seems it’s still untapped because only few people know how to go about it.
Many people think it’s a business that requires much technical knowledge, without knowing that there is no big deal in snail farming.
Snail farming is one business you can start with 50k and be making over 150k monthly, depending on your business management.
Though snail farming is a very lucrative business in Nigeria, but most people go into the business and never make success. This is because they always fail to understand the secrets behind the success in snail farming. Mot of these people even invest heavily in the snail farming, yet nothing use to come.
It is not actually the amount of money invested in snail farming that matters; what matters is understanding the secrets of success in the business. Once you understand these secrets of success in snail farming, you would be surprised at the kind of profit you would start making from it even without investing more than 50k in the business.
After getting much questions from our readers about how to really make huge income from snail farming, I decided to make out my time to prepare a comprehensive guide on how to start a successful snail farming business.
I wanted to sell out this article as eBook for up to 20k per copy, but I later decided to just give it out here for free as an empowerment to young entrepreneurs that really want to make a better life.
At least the testimonies I have been receiving about the article is even enough for me. The knowledge into article has really lifted many from zero to Hero.
After reading this article, you would definitely be able to start snail farming business with as low as 50k, and earn massive income monthly, even more than a bank manager.
6. Small Scale Poultry Business
Poultry Business is another business that I think you should try out. Though it is very lucrative business that one needs to invest huge amount of money, but you can still start as little as possible and still make your profit.
I would always say that barbing is one of the most neglected but lucrative businesses in Nigeria. The reason people neglect it, is still what I don’t know till today; because there are people that are really making it big from barbing.
Though barbing requires skills, but even if you don’t know how to barb, you can still open this business and employ a barber.
8. Cassava Farming
In 2021, Guardian had predicted that cassava would be very scarce and expensive. It gave the season to be because many farmers boycotted cassava farming in 2020, due to the huge losses recorded in 2019 by many farmers as a result of glut.
Even till date, Cassava is still very expensive, now a hot cake in Nigeria; an ordinary man now finds it difficult to afford cassava which was a very common commodity to people.
Not even in this side of it, right from time, Cassava had being a very saleable commodity as almost every family in Nigeria cannot do without it.
So, this would really be a nice business opportunity to think of, if you still have the question: “what business can I start with 50k?”
9. Rice Farming
If you can cultivate the rice with your hands, without hiring labourers, that makes better because all you may now need is just a piece of land and money to buy fertilizer.
10. Scrap Business
Scrap business is another lucrative and untapped business you can invest your 50k. The business involves buying and selling of items that are no more in use; like metals/iron, rubber, and so on.
The best way to entrepreneurship is by starting small and scaling up. You must not actually wait to have billions of naira before setting up your dream business.
You really want to start up a business, but thinking that the little you have won’t be enough to get started. But I want to change your mindset, and let you know that your 50k can really go a long way in starting up your life in Nigeria.
I believe this article would be of help. Do let us know on the comment section if there is anything you would like to relate with us.