Naijaventure

The best approach to a successful business career is starting small and scaling up. Some people always think that they must have millions of Naira before they can start and run a successful business. This is not true, you can still start a small business and raise money from there to start a bigger one.

The profitability of a business is not defined by its size, there are some small businesses that may even be more profitable than larger ones. There are some profitable businesses you can start with as little as N100k and be making huge income. Instead of you to continue waiting to have billions of naira before starting your dream business, why not start from somewhere and raise money for bigger ones.

What Business Can I Start With N100k?

We cannot deny the fact that 50k may be too small today start a business in Nigeria. We are not going to sound like some motivational speakers that would give you sweet business ideas that are not realistic with N100k, just to make you feel happy.

We are rather going to give you ideas that can be achieved with your N100k, even if the ideas are not going to appear so nice to you. It’s better we are real than polishing false ideas to make you happy. However, all the ideas we are about to share with you now are all very profitable, despite being a small scale business.

We are going to give you both online and offline business ideas that N100,000 can run successfully. So, just look through them and make your choice.

1. Akara Business

You see those people frying Akara at that street/junction close to you , they are actually making a living from there. This is one of the businesses that people underrate, but it’s actually lucrative, especially when situated at a good location. The business does very well especially at a junction with good population, close to market, campus area, etc.

Akara is needed mostly for breakfast, and so the business is basically a morning business, usually from 6:00am to 11:00am, when everyone must have taken their breakfast.

2. Sale Of Rubber Slippers

Rubber slippers are always in demand, and do not have a specific season. A large population of average income earners and even some high income earners, use rubber slippers. Of course everyone uses bathroom slippers, and those are always of a rubber make.

With N100,000, you can get a good quantity of rubber slippers in different kinds. Then find a good market where you can always go to sell your stuff.

3. Beans & Plantain Porridge Business

Beans & plantain porridge is a very nutritious meal which has become a very popular “street” food, because you can hardly find it in restaurants, except from street vendors.

Many people love this meal but only a few people do it at a location. It does well especially in Campus environment, populated junction, mechanic site, close to markets – building materials market, timber market, etc.

4. Onions Business

As long as people cook everyday, onions will always be in demand. With N100,000, you can get at least one or more bags of onions which you can resell in pieces, and make your profit. You may not necessarily need a shop for this business; you can find a good market, get a “stand” there where you will always stay. You can always put your onions on a wheel barrow or sample them on the floor.

5. Sale Of Nylon

Almost every business needs nylon for packaging items bought by customers. N100,000 is enough to start this business, and it’s profitable. You just have to get a good location at any good market, people will always come there to buy nylons from you. If you have a means of transportation like motorcycle, you can even make connections with some business owners so that you will be supplying to them.

6. Snacks with Drinks

Snacks like meat pie, egg rolls, with drinks like zobo, soya milk have become a popular street afternoon food in Nigeria, especially in commercial places or places like school, market, mechanic site, building site, etc. With N100k, you can easily start making this kind of food and be selling and making your money. You can either get a static space in a busy place or be moving about to sell your business.

7. Okirika Business

Just like every other things are now costlier than before, Okirika (UK used wears) are no exception. But with 70k and above, you can still get a “Bale” of Okirika which is still in a good grade. According to our check, a bale of adult Okirika wears costs between N70,000 and above, depending on the grade. So, N100,000 can actually get you at least one bale, or you can even go for children wears, which I believe would be cheaper to get.

Most times, this kind of business may not necessarily require a shop. All you have to do is to find a nice busy market, get a “stand” there where you will always stay. You can be vising different markets, mostly on their market days.

8. Beans Business

According to our check, the average cost of one bag of white beans is from N70,000 and above. With N1000,000, you can buy at least a bag of beans and resell to final consumers. You just have to get a good “stand” at a good market, where you will always stay. You can always sample your beans on a wheel barrow or any other means you may like.

9. Scrap Business

Scrap business involves buying and selling of items that are no more in use; like metals/iron, rubber, and so on. This may appear to be a dirty business, but it’s actually lucrative. You must not move around with wheel barrow like most people do, you can make contacts with people that work in workshops and mechanic sites, so that you can always go there and buy your stuff.

If you have a motorcycle, you may even decide to move around from house to house and ask if they have some scraps they can sell to you. After you might have gathered some quantity of the scrap, you can then take them to those that deal in larger quantities, and sell to them.

10. Selling Vegetables

Vegetables are one of the everyday moving commodities. People use vegetables to cook everyday. If you go to the market, you will always see people actively buying vegetables for house cooking. So the customer base is already there for you. And more interestingly, it doesn’t really require much money to get chunks of vegetables that would be enough for you to sell for a whole day and make your profit. With N50,000, you already have enough to start this business. You don’t even have to hawk it. Just get a good stand in a busy market and start making daily profit.

11. Crawfish Business

Crayfish business is another nice business you can start with N100k in Nigeria. According to our check, a bag of Oron crayfish currently sells at N100k and above, depending on the quality. WIth N100k, you already have enough to get even if it’s the half bag of the crayfish; you sell, make profit and buy again. To sell this, you just have to get a good space in a busy market, where people come to buy food items.

Conclusion

When there is not enough capital at hand for your dream business, it may be wise to start in small scale, raise more capital and expand or then change to your dream business. 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.