Lucrative Business To Start With 100k in Nigeria (2024)
You might wonder if you can go into the line of business with a limited amount of cash. To be realistic, a lot of firms start out little and then evolve into what they are now. The issue is not getting up to a hundred thousand naira to set up a business; it is your ability to raise and extend the firm. It is critical to have a guide that can advise you on the best possibilities.
With thorough study into what is presently available in Nigeria, we have compiled a look at the top businesses that you may start with at minimum 100,000 naira.
BEST LUCRATIVE BUSINESSES TO START WITH ₦100,000 IN NIGERIA (2024)
The following are the best business ideas you may start with 100k naira and grow into a successful enterprise.
POS business is our best pick for low-budget business newbies. On our selection of businesses, this one demands the least amount of capital. Independent bank agents who are not direct bankers with financial institutions provide point of sale (P.O.S) services. They do, nevertheless, have the authority to conduct some mobile transactions, like as credit and withdrawals.
If you wish to start this business, you’ll need to identify a bank that works with outside agents, get a P.O.S. machine, and put your money into the designated account.
Cryptocurrency has exploded in popularity, and it continues to grow. Several major corporations and major participants are increasingly paying their employees in alternative currencies. These are some of the less physically demanding jobs in the country presently.
There are numerous coins in which one can invest, ranging from bitcoin to dodge coin. So, invest first in a specific coin, observe the market for its ascent, then sell when the moment is appropriate.
PHONE CHARGING BUSINESS
The electrical supply in just about all parts of Nigeria is unreliable, unpredictable, and at best inadequate. Everyone needs to be connected in this digital age, primarily through their cellular telephones.
Nigerians with an urgent need to charge their phones pay phone charging vendors to charge their phones at a predetermined fee because the electricity supply is weak and the expense of petrol and gasoline is high.
FOOD STUFF BUSINESS
Food is among the most basic human requirements, and without it, nobody can really exist. You can launch a food company anywhere there are individuals with 100,000 naira.
Secondly, prior to actually starting a food business, you must first determine the type of raw foodstuffs you would like to sell, after which you must seek out farmers as suppliers.
FOODSTUFF TRANSPORT BUSINESS
Starting a food transportation business does not necessitate a large amount of fixed capital. You only need to locate merchants in a specific area, purchase food from them, then transfer it to a suitable position.
You can also have merchants that are willing to buy your things from your hands to make your business smoother and more efficient. Everything you’ll need for
FRUIT DRINK BUSINESS
Another of the profitable businesses you may launch with 100,000 naira in Nigeria is the soft drink and food industry. For this enterprise, you’ll need to have a store, blending instruments, and beautiful cups/packages.
Drinks made from fresh fruits are the focus of this firm. It would be advantageous if you had a refrigerator because many clients prefer their drinks to be cooled.
SMALL-SCALE IMPORTATION SERVICE
People in Nigeria nowadays import a variety of modest goods from other countries. These businessmen buy things at reasonable prices in the source countries and sell them at high prices in the market.
The key is to understand precisely stuff to import and what customers are likely to buy. The simplest method to do this is to stick to basic goods and use them on a daily basis.
Due to the sheer enormous population of people who require fast meals, catering is a business that can prosper in Nigeria. You can get the essentials for starting a catering business with the money you have. Some other advantage of this business is that you don’t have to work as hard to achieve a daily profit.
Baking is just another business that can be started with ₦100,000 and earn a lot of money. You can serve for occasions such as weddings, anniversaries, and birthdays, with your nicely cooked pastries. One can however take this business online and fulfill orders for cake, cupcakes, salmon rolls, and other baked goods.
Kindly take note that this is one of those industries where you cannot succeed unless you have the necessary skills. This means that the first thing you should do is assess your baking abilities.
Cutting hair is another enterprise that would require a skill first. You should first study the ‘art’ of barbering before launching this business. Find a decent barber and apprentice with him for a period or until you master this talent.
The second stage is to locate a salon that is freely reachable, followed by work gear. Clippers, aftershave creams, hair creams/lotions, hair dye, disinfectant, brushes, powder, and other equipment are on the list.
Agricultural industry is currently quite successful in Nigeria, as farm products are eaten on a regular basis. You should have a basic understanding of the field you would really like to explore before getting into the farming system.
The following are some excellent recommendations:
Pork meat is in short supply in Nigeria, particularly in the south. Protein-rich foods are likewise in high competition. A sow can have up to 8 piglets at a time and is extremely fertile. A young female piglet will set you back roughly 50,000 naira.
Goats multiply rapidly, and goat meat is in limited supply in Nigeria. It pays off, particularly if you choose a species that produces a lot of meat and matures quickly.
Apart from the necessary tools, this enterprise does not necessitate a large investment. To get started, all you need is a washing machine (which isn’t required) and an iron.
One of the advantages of this business is that you may work remotely.
That’s the view of the lucrative low budget businesses to start in Nigeria. These are by and large the best business to start with 100k in the country. We believe this article will make you have a choice on what to start with considering your low budget.