In case you are thinking of any business to start, you are on your own if you don’t have enough money to finance it. The worst part of it all is that most potential profitable small businesses in Nigeria needs much amount of money to get it started —most times, far much beyond what average Nigerian small business aspirants can afford. Have you ever had a business idea — so bright that it was just a matter of get it started and the money starts rolling in, only to see the idea die because no money to kick start the business? That’s what 70 percent of Nigeria Entrepreneurs experience on regular basis.
Many a times, the little money you possess cannot be enough to start anything reasonable no matter how hard you tried. Because of these, many people are finding it difficult to figure out any small business in Nigeria they can start with small amount of money and still make reasonable profit.I have taken the burdens off your shoulder by taking time to come up with small businesses that promises good profits.
Below are some of the best small businesses in that any intending Entrepreneur can start with N50,000 or less in Nigeria and make substantial profit with it.
1. Beading and wire work jewelry designing-This business requires less than N50,000 to start. All you need is to purchase your basic instruments of pliers,bead, fishing lines and wire with about N10,000.You will need to go for your basic training which is about N10,000 and start learning. You will make your money even from the period of training.
2. Chips Making – Walk around the street and you will observe different brands of Plantain chips on sale and they all sell very fast. People just like chewing stuffs and there is no end to it, so if you can engage in the business of producing and supplying it, you will be making good money on daily basis. All what you needed are: Big Frying Pan (N3,000) Small Sealing Machine (N15,000) The Nylons and Labels (N2,000) Other Utensils (N5,000) The rest N30,000 goes into buying of Plantains and logistics. Supply to the shops and to hawkers and you will be making your money.Become a registered member of mobile cooperative society to access your daily payment.
3. Sales of Tokunbo Shoes – I like quality leather materials and that’s why until recently, all my shoes and bags are bought from the used shoes and bag sellers. I used to get some top class shoes for N3,000 by the roadside back in those days when I can’t really afford high quality designer shoes that cost N50,000 or more. Many people out there are just like me — Instead of patronizing those fake China shoes and bags, they prefer to buy high quality fairly used ones which last longer and confer you with more respect. Get a nice place where you will be displaying your goods like in front on shopping malls. Go to Fairly used market (Katangowa or Aswani in Lagos) you may go to Seme Border or Kotonou. Select quality fairly used shoes, look for designs that are close to the latest fashion. N40,000 can get you up to 40 pairs of shoes. Sometimes you make profit of up to N3,000 from a single sell.
4. Used Books – These are common by the roadsides and you may be wondering if the seller are making money from it.Try it and see! You will be surprised at the profit margin, and you will be amazed at the rate at which Nigerians buy different books. Follow the same process as it is with the used shoes but you buy at different markets. Used books are sold in importers warehouses, locate one and go there to select nice used books, Children books, Professional books, Hand craft books, etc etc. These types of books sells very fast with high profit margin. N50,000 is more than enough for a starter.
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