You have been told that many businesses are capital intensive and you cannot build one without huge investments. There is nothing more relieving for those with little savings and want to make much of what they have. Find out in this post business ideas and ventures you can build and sustain with just N100000.
20 Businesses you can start with N100,000
1. Food vendor Business
In most urban areas, with students, young adults, and even married couples, many now prefer to eat out. This is either due to busyness or the craving for particular meals. You can seize this opportunity and start a restaurant business. Restaurant businesses are known to flourish in cities like Lagos, Onitsha, Aba where people are always on the move. The tools needed to make this business successful will include healthy hygiene and good culinary skills, with just N70000; you can rent a small shed and begin serving one or two meals.
2. Soap production
The demand for locally made soap is on the rise. Well, this is not surprising washing will always have to take place. You can make soaps yourself. Many tutorials are given online on soap production. All you need to do is find customers giving them reasons your domestic-made soap has more advantages than others. The tools and equipment needed for soap production are also not expensive.
3. Perfume production
This business requires basic knowledge of chemistry and the art of packaging. With a capital of even less than N100000, you will do just fine. To achieve success in this business, you will need to keep educating yourself in the right product and packaging. Targeting high-class professionals who will be interested in the luxury of smelling good is also a plus. It is also possible to grow this business into an exportation commodity because of the long shelf life.
4. Mini importation business
This has to with finding out online shops that allow you to order products at cheap prices. Such online shops include All Express and Amazon. This business can even be started with as low as N10000. Profit is made on the sale of each product and you can expand even more. However, it is important to learn the tactics of this business, since your customers can as well shop online for themselves. It has however proven lucrative for many.
5. Fresh fruit juice production
The demand for a fruit juice that is organic is particularly high in urban areas where healthy foods are not readily available. Fruit juices are often sold in filling stations, hotels, and other target areas. Fresh fruit juice business has been noticed to be lucrative in highly populated cities such as Lagos, Port Harcourt, Abuja, Kano, etc. The equipment needed to make fruit juice is cheap. These include a freezer, stable electricity or a generator. The estimate needed for this business is as low as N10000 to N50000
6. Garri processing
A foodstuff that will always be on-demand in Nigeria is Garri. Not only will this business thrive in rural communities but also in urban areas. Mechanizing this business yields high rewards and will cost about 25000 to 30000.
7. Snail farming
Snails are expensive in markets and even as finished products in restaurants or hotels where they are served for consumption. Snail farming will not require as much as N100000. You could start this business in your locality with about N50000 to N80000. What’s more, is that it is said that snails are not difficult to breed and it is market for the rich and high classed.
8. Poultry farming
This remains one of the most popular businesses to start with little money. With as low as N20000, you can begin with a number of chickens. Poultry farming also does not require any special skills aside from your attention, education online and from experienced farmers as well as good hygiene. Other tools needed are space, water, and capital for their feeding which you are sure to recover on sales. Day-old Broiler chickens cost about N150 each. The good thing about these species of chickens is that they grow faster and in about 9 weeks, you can sell each for a rate of N1800 to N2000. In order to yield maximum profits from this business, one must understand the seasons at which they are most in high demand and knowledge of the risks involved due to weather conditions and susceptibility of the chickens.
9. Dog breeding
Dogs are kept as pets or even eaten in certain parts such as the northern and southern parts of Nigeria. Here, the dog breeding business thrives just well. A female Dog can be gotten for N70000. This dog can birth u to eight puppies which can also be sold for seventy thousand naira each. While your major cost will be the feeding of the Dog. You will also need to be Dog-friendly to run this business.
10. Fishery
Although this business is highly environmentally sensitive, it is also a good business you can look into especially because of its low risk and diversity. Catfish breeding does not demand much stress and what you will need available will essentially be water, land space for the fish pond which can either be eaten (in the earth) or built with concrete. Cost and profit are usually based on your environment; the cost of land for the fish pond and demand for fish.
11. Mini business centre
This is a small business where you can easily make profits. It is best to run this in educational institutions such as Universities or colleges where such services are most needed. Tools needed for the effective running of a business centre are a set of computers, machines such as a scanner, a printer, photocopying machines, tables, and chairs. While this business might not seem profitable at the start, it ends up paying off in the long run.
12. Phone charging
This business venture tops the list because of the huge opportunities embedded within. Nigeria is a country with a poor electricity supply, but what’s more, is that everyone needs to be connected via their mobile phones. Since the price of fuel and gasoline are expensive, many people then pay phone charging vendors to charge their phones for a fixed amount. Tools needed to set up a phone charging booth are:
An electric generator which costs about N30000
Petrol, to fuel the generator- It is best to buy and store fuel in bulk so as to be on the safe side such as when there is fuel scarcity
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