In this article, we are going to answer the question: what business can you start with 50k in Nigeria.
As we all know, starting any kind of business will require one to have capital upfront, but considering the fact that it’s hard to raise a substantial amount to enable one to start a big business, I am going to show you in this post at least 10 businesses you can start with 50k or less in Nigeria.
Though they are kind of small businesses, if you are able to manage them well you can turn them into a big business someday.
Most importantly you need to understand that small business are the foundation of any nation’s economy.
And this is because small businesses are able to provide employment opportunities for people when the government and big private companies are unable to.
Additionally, small businesses also help people to solve problems in society. Most importantly, small businesses help business people to become self-reliant and economically active citizens.
Today many Nigerians are more interested in entrepreneurship because of how hard it is for one to secure a job, even after passing through the walls of the university and graduating with good grades.
Therefore understanding that due to the harsh realities of the economic situation in Nigeria and many other African nations, individuals who are looking to start small businesses do not have enough capital that will help them venture into entrepreneurship.
And for that reason, these kinds are looking for substantial businesses they can start with very limited capital.
And for that reason, I am going to reveal to you at least 10 businesses you can start with 50k or even less.
1. Dry Cleaning Service.
One of the businesses you can start with 50k or less is a dry cleaning service.
You don’t need to have a shop or washing machine to start this business as you can operate from your home and offer house-to-house services.
All you have to do is use your 50k to print flex, flyers, and business cards that will help you spread the word about your business.
You can also advertise your business on your social platform, and reach out to potential customers close to your location.
You are going to be successful in this business because there are so many people who lack the time to take their dirty clothes to a dry cleaners shop, thus, they will be looking for a dry cleaner who will pic their clothes up at home, or even stay there and do the washing for them.
As with every other business, son you are going to secure customers who will recommend you to other customers.
2. Printing Or Branding Business
Printing and branding is another business you can start with 50k or less.
You don’t need to be a professional graphics designer to be able to start this business, you can even act as a middle person.
The trick is to scout for people who have events and are looking for programs, flex, banners, posters, etc.
And when you find them professionally talk price with them and when they offer you the job you can then look for a graphic designer to make the needed design for you and afterward go to the printing press to print the design and deliver it to the owner.
3. Noodle Fast Food Stand.
Noodle fast-food stand is a very profitable business in many parts of Nigeria. What you require to start this business is a very busy location, a gas cooker or kerosene stove, and seats for your customers to sit and eat.
A plate of noodles and eggs now costs between 300 to 500 Naira in many parts of Nigeria. And they usually consist of two packs of noodles and one or 2 eggs.
The estimated expenses for a plate of noodles are just a pack of small-sized noodles which is around 80 or 90 Naira and an egg which costs 50 Naira.
So with a cost price of 190 to 250 Naira, you can make a cool profit of 150 to 250 Naira on just one plate of noodles when you subtract other costs like the cost of kerosene or gas.
You can then do the math on how many plates of noodles you will be able to sell every day.
4. Soap Production Business.
Making soup is another business you can begin in Nigeria with 50k or less, and the most important aspect of it is that you don’t need a rented shop to be able to produce your soap as you can do it from the comfort of your home.
Some people might want to go for a molding, cutting, and trimming machines, but you can skip that and use the used tins or cans, for instance, milk used tin, to get the shape of your soap according to the size you want.
The only materials you are going to spend money on are the necessary chemicals and substances.
5. Selling Of Perfume Oil.
The idea here is not to buy a perfume and resell from the bottle but to get in touch with reliable perfume oil suppliers who sell different kinds of fragrances.
Afterward, the only thing you will need to purchase is perfume bottles, typically 1 millimeter which you will pour the fragrance in and sell to your customers and make an unbelievable profit.
10 millimeters of fragrance cost around 1,800 Naira, and then you will resell it at 1,000 Naira per millimeter.
When you subtract the millimeter you will be making as much as 500-700 Naira profit per millimeter.
6. Selling Of Second Hand Clothes Or Shoes.
Popularly known in Nigeria as Okrika, selling second-hand clothes and or shoes is another amazing business you can start with 50k or less in Nigeria.
The trick is to visit a popular market near you to select and buy the best second-hand clothes from the merchants.
You can then re-package the clothes and shoes by putting starch and dyeing them to get the perfect colors that will attract your customers when they see them.
There are lots of good clothes you can purchase at less than 500 Naira and resell at 1,000 Naira to 1,500 Naira.
7. Selling Of Popcorn
Selling popcorn is another business you can start in Nigeria with 50k or less, all you will need to do is purchase the materials and find a very busy location that will put you in view of so many people who will buy the popcorn for themselves and especially their children.
The materials needed for the popcorn business are a popcorn maker, a nylon sealer, and the corn itself.
8. Mini-Importation Business
Mini-importation business is another business idea that you can start with 50k or less in Nigeria.
This business involves buying little items that people demand so high on a daily basis wholesale and reselling them for profit. Examples of those items include phone cases, battery chargers, car trackers, headphones, wrist watches, headphones, etc.
These items are cheaper when you buy them from wholesalers. Some of these items cost as low as 800 Naira each, and you can re-package and resell them for as high as 2,000 Naira, and make more than 1000 Naira profit.
9. Selling Of Used Cars.
Selling used cars is one business you can start with 50k or less, and this business is so amazing because it will cost you absolutely nothing than buying a smartphone if you do not own one already.
Once you get a smartphone, the next thing you will need is money to transport yourself around and look for those who have used cars that are willing to sell, ask them the cost of the vehicle, and offer to stand in as a middle seller.
Once the owner accepts and lets you know how much he wants to sell the car.
You can use that information, take pictures of the car, and then upload them to e-commerce websites or your social platforms adding your commission.
Once you are able to secure a buyer for the car, you will then remove your commission.
10. Small-Scale Farming
If you are living in a community where there is availability or abundance of good farmlands, then you should consider small-scale farming as a business you can start 7 with 50k or less.
All you have to do is look for good farmland to lease, decide on the kind of crops to cultivate, and hire laborers to clear, till, and plant on the farm.
After the planting, you will have to monitor the farm to know when to weed it, and when your crops are ripe for harvesting. You can start today and start making money.
Did we miss other business ideas one can start with 50k or less that you know?
Please share them in the comments section. And we will update them on our subsequent article on a related topic.