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Business You Can Start With N50,000 In Nigeria
The Nigeria business terrain is not entirely easy, and nowhere really is all over the world. Lack of functional infrastructures, non-commitment on many parts and a high level of corruption has made starting a business in Nigeria very costly these days. It is apparently difficult therefore to start a small business in Nigeria when we compare the present market indicators with the cost/profit ration. But what can one do in a situation like this?
What business can one really start with as low as N50, 000?
As you keep ruminating on the above, however, I have one big question for you. And what is the big question? The big question is this: do all businesses operated in Nigeria, successful businesses, start big and with huge startup capital? The honest answer is No.
Most of the big business moguls you see around started small with very limited startup capital. They just had to scale up with increased income or revenue. You too can do the same. It is also possible for you to start a successful business in Nigeria, start small with as low as N50, 000 and then scale up to bigger businesses or expand on the present one.
I went to the market to find out and discovered that really, some business can be operated with as low as N50, 000 here in Nigeria. I came back with a full-fleshed report which I want to share with you briefly
So, let’s now consider the top 5 businesses you can start with N50, 000 in Nigeria today.
Top 5 Businesses You Can Start With N50, 000 In Nigeria
Recharge Card Business
Recharge card business is one of the most highly proficient businesses in Nigeria with low capital.
Recharge card business is one of the most highly proficient businesses in Nigeria which you can start with less than N50, 000. All that is required to start recharge card business in Nigeria is the sum of N25 000, a few plastic chairs, a table, an umbrella and bulk recharge card of different denomination and networks. N10, 000 should be ok for this for a start.
Combining recharge card selling business with call Centre business is a great way to leverage on the market. Not everyone has a mobile phone, and some people who own mobile phones may not have them handy at the time.
Whatever the case may be, people will always want to make phone calls at recharge card sales points from time to time. So, it is wise to combine both businesses for higher throughput. Of course, you can use your personal mobile phone to achieve this. Any mobile phone can do this.
Recharge card selling business cum call Centre business thrives best in busy areas with a high influx of human and vehicular traffic. So, you should take this into consideration while scouting for a location to set up your recharge card business in Nigeria.
Also, you need to always be around to attend to customers’ requests, since recharge cards, like sachet water business, is an ever-in-demand business. But in all this, understand that recharge card business in Nigeria is not a get-rich-quick kind of business, as it needs a lot of patience and perseverance to scale through.
You might be amazed that for each N100 unit of recharge card sold, you earn a profit of N3 – N5 only. What a business! But that is what it is.
“Pure Water” Business
There is nothing like “pure water” when comes to the sachet and bottled water sold in Nigeria. But I choose to title this as it is due to the usage of the term “pure water” for sachet water sold in Nigeria. So, going by the norm, sachet and bottled water business in Nigeria is a highly lucrative business to start in Nigeria with a little startup capital of as low as N30, 000.
Requirements and tools for starting this business in Nigeria include bags of sachet or bottled water itself, a cooler/coolers, a shed/shop and where possible, a sales agent. You need a steady supply of electricity for this business to thrive well. As such you should site this business close to a steady source of public power supply or close to a cold room if you cannot get an electric power generator for a start.
Dry Cleaning Business
I will not say you can successfully run a complete dry cleaning business in Nigeria with N50, 000. That is not readily feasible. But how about doing a cloth ironing business? Yes, that is very feasible. All you need here is a table, a blanket and an electric iron.
You don’t need to have an office location yet. When I was a student in the hostel, I had colleagues who ran this business from their rooms. All they had was what I just listed above. People brought clothes to then in their rooms where they ironed for them for as low as N100 per clothe.
If you iron 10 clothes per day at N100 each, that means you make at least N1000 daily. Multiply this by 30 days, you can see what you earn. But if you are hardworking and dedicated to the job, you can earn much more.
Sales of Phone Accessories
Don’t go to phones sales business with N50, 000. You might not prosper. But cell phone accessories, you will do well. All you need for this business is a simple show glass, a few cheap and low-cost phone accessories and a good location.
This business can be operated best or for a start, as a mobile business. Once you can have a good management plan, a good supplier and the above requirements, you are good to go in this business. So, what are you waiting for? Grab the offer now and run with it.
By the way, the phone accessories I am referring to here include things like an earpiece, headsets, chargers, phone screens, phone screen protectors, replaceable phone batteries, phone casings etc.
With as low as N50, 000 you can buy a few fingerlings at N2 each, a few big drums, get fish feeds and construct a good medium-scale fish pond. This business needs a moderate supply of water, so you should be close to one as much as possible, especially where you are not sinking your own borehole.
My Final Thoughts & Recommendations
There you have it on the top 5 businesses you can start with N50, 000 in Nigeria and run with. I carefully omitted what I term “poverty-invitation businesses” because there are some businesses you do and however hard you try, you make not have a breakthrough. So, don’t be deceived, not all business you start with N50, 000 can take you far in 2 – 3 years to come.
But what I highlighted above are evergreen businesses, especially since they belong to the consumables sector, they always drive sales. My recommendation is that you go for a business among the afore-cited, with the most minimum risk and highest throughput and least startup cost.