Nigeria is a country with a population of more than 180 million people, therefore setting up profitable business ventures here is very promising. There are money-making ventures that do not require millions for a startup, it only takes patience, focus and consistency to succeed in a business you invested as much as N100,000 ($278.00).
As the rate of unemployment continues to rise and people are seeking for ways to grow the little savings they have, below are ten business ventures you can start with 100k in Nigeria.
1. Rental Business
You can make huge profits renting just about any type of product or equipment imaginable. However, it depends on how much more you’re willing to invest in and that’s what makes it one of the best business ventures. With N100,000, you can set up and start renting kitchen utensils, party equipment, costumes rental, chairs and table rental, artificial flower rental, kiosk rental…etc.
2. Office Supply
Since you are still cutting you’re coat according to your size, office supplies is a good business to keep that N100k growing. As much as there are hundreds of office supplies ranging from basic manual to the more expensive electronics printer, you can start with the basics such as:
- Pens and pencils, plus erasers.
- Permanent markers (thick and thin, black)
- Paper clips (plus holder)
- Binder clips (various sizes)
- Stapler, plus staples.
- Tape dispenser, plus extra rolls of tape, etc.
Just rent an attachment space near schools, offices, libraries…to begin your journey to financial security.
3. Snacks Business
The business of snacks in Nigeria can fetch you huge cash in a short range of time. Besides popcorns and peanuts, snacks such as buns, puff, scotched eggs/egg rolls, Plantain chips, potato chips and Chin chin, are street snacks you can easily find in Nigeria. They’re very affordable and satiable, thus serves as an easy bite for customers on the go. You only need to target a traffic, focus on one or two snack food category and you’ll be on your way to financial security.
4. Fruit Business
The fruits can be sold whole or in slices and some people might prefer a mix fruit salad so that all these bring variety into the sales.
Once you start making enough profits, you can advance to making fresh fruit juice as well.
5. Making Fresh Fruit Juice
With the increasing number of people caring for their health, the business of making fresh juice tops the list of business ventures you can start with N100,00 in Nigeria. Making freshly squeezed juice, bottled without added colouring, flavours and preservatives is a great business opportunity.
Also, find fruit vendors to buy produce in bulk so as to save on transportation costs; secure venues and places to sell your juice (fitness centres, cafes etc.); then buy a commercial-grade juicer and supplies such as cups, napkins and utensils, to save money.
You can also focus on selling soymilk or tigernut milk.
6. Popcorns and Peanuts
This is one of the most popular business ventures in Nigeria which guarantees steady sales and profits. All you require to set this business is a strategic location, popcorn machine (electronic or manual popcorn machine) which cost about N60k and N20k respectively; a sealing machine, branded package, bags of corn, sugar, salt and butter.
7. A Diner
Don’t let the sophisticated word fool you. In Nigeria, there are diners at busy corners (popularly known as Mama Put) where people pop in to eat tasty homemade foods like the famous Nigerian Jollof rice, Tapioca (a.k.a. African salad), Bole (roasted fish, yam, potato or plantain), soup etc. While some vendors prepare breakfast, others choose to sell lunch or dinner. All you need to do in other to set up this business in Nigeria is to secure a little corner in a busy location – schools, commercial areas etc.; with some chairs and tables for customers to feel comfortable while they enjoy their meal.
8. Online Business
Online business is a serious venture which not only requires time but also an extensive knowledge of computer and how the internet works. Currently, there are three internet-based businesses you can invest your time in to start earning some money:
- To become a seller on Amazon: Just choose your Amazon category or niche. These include labels such as clothing, healthcare, jewellery, electronics, beauty and more. Then, identify which products are in high demand.
- To become a Facebook advertising consultant and
- To tap into the cryptocurrency ecosystem.
With determination, focus and patience, you can succeed and watch the money flow in anytime, any day.
9. Farming Business
Farming remains one of many ancient business ventures that requires time, patient and proper management to flourish. With N100,000 you can set up a crop farming – plantain, Cassava, Pineapple etc; or animal farming – catfish, goats, snails, poultry, grasscutters etc.
Planting and nurturing of wildflowers is a business that requires very little capital to begin as long as you enjoy gardening. Flowers are among the most profitable plants, producing one of the highest returns of any speciality crop and you can begin to earn money in your first year.
All you need is to get enough seeds or gather wildflowers from roadside bushes and supplies, patients and a marketing strategy, then you’re on your journey to benefit from nature’s wonders.
11. Cleaning Service
This is a good way to invest your little chunk of money to create an extra income stream. In Nigeria, the cleaning services are quite diverse and a very lucrative business that can yield tones of steady cash inflow. As the world gets busier, the working class typically don’t have time to handle complex house chores, thus they’ll be glad to hear about your cleaning service. You can offer to clean homes, offices or commercial outlets and get paid. All you need are basic cleaning supplies, the appropriate licenses, and a plan for securing some clients and earn their trusts.