Olanrewaju Salu, an entrepreneur and realtor located in Lagos, outlines twenty enterprises that can be started in Nigeria with a capital investment of only N20,000 each.
See 20 businesses you can start with 20k: People frequently cite a lack of financial resources as the reason they do not launch a business, but the absence of a viable business concept is an even more significant obstacle that needs to be considered.
There are businesses that can be started with as little as N20,000, but if you have no idea what to do with that kind of money, you will undoubtedly believe that beginning a small scale business is the most difficult thing you can do. There are businesses that can be started with as little as N20,000. You don’t have to keep thinking like this any longer. Olanrewaju Salu, an entrepreneur and real estate agent located in Lagos, has lately offered some excellent advice for running a business on Twitter, and many users have complimented him on giving such incredible concepts for running a company.
If you’ve ever entertained the notion of running a home-based company, then you shouldn’t have any trouble coming up with a business plan or the necessary funding. Simply check your bank account; if you find N20,000 that you are not going to need in the near future, you have the potential to launch a successful enterprise that will provide you with actual financial independence. Here we go:
1. Bedsheet/Beddings Production
Pay a visit to Lagos Island or Oshodi, where they offer bulk materials and have good designs to choose from, and I can assure you that the individuals who will sew it for you are simply within the same market. You can get started with less than 100,000 dollars and steadily build up your wealth.
2. Shirt Production
A delightful side hustle. On Lagos Island, you can find people who can sew for you, but a better option would be to teach yourself how to do it yourself; this would prevent a lot of potential heartbreaks. On Lagos Island, the street Taiwo is the one you need to be on. Materials ranging from 700 – 1k per yard, sew for 1500/2k, Sell for 5-7k.
3. Sales of men’s underwear
Make plans to visit the Aba Market. You can purchase one boxer for as little as N300, all you need to do is package it in threes, and advertise these babies correctly by begging your friend on Twitter for retweets. We buy three-packs of boxers for between $1,500 and $2,000, and you should sell yours for $1,200 and gradually increase your profit margin.
4. E-Payments and POS Business
You are able to get a POS machine from your bank and enable online banking if you so choose: You can make your spare change by helping other people with their electronic payments if you reside in an area where there aren’t many banks. To withdraw ten thousand naira from an ATM in Ikorodu, I paid someone N200. ATM queues were ridiculous.
5. Mobile and electronic accessories
On Alibaba, Ali Express, Deal Extreme, and other similar websites, you can purchase mobile and electronic accessories such as pouches, chargers, USB cables, HDMI cables, earbuds, and many more. The more you buy, the cheaper each individual item becomes. Because of their low weight, transporting them won’t be a problem either. You may also sell on Jumia and other marketplaces.
6. Popcorn Machine
This guy is familiar to all of us! Every time, we put in an order. Corn in bags labeled with their brand names: Mile 12, Branded Nylon, Sugar, Salt, and Butter. When it is done correctly, the aroma will entice customers to purchase it. This is one of its selling points. The cost of a manual sealing machine is -7/9k. The Popcorn Machine can be purchased on Jumia for 65,000. Any location is suitable for serving popcorn.
7. Sales and customising of football team jerseys
Fans of football teams almost always want to demonstrate how much they are rooting for their favorite squad. Please seek advice from my sister, @The_Ronke. She will demonstrate to you how successfully you made it through the ordeal. She has a positive attitude that makes her qualified to instruct you.
8. Snail farming
Because of the low initial investment required, snail farming in Nigeria is becoming increasingly popular. If you are able to successfully promote your products, your company will also experience significant growth. You can launch this enterprise right from the comfort of your own garden. Remember that snails don’t reach maturity for almost an entire year, so having patience is really necessary.
9. Fairly-used goods
Goods that have been worn but are still in wearable condition, such as jeans, tops, t-shirts, shoes, etc. They might come from Badagry or even Cotonou. Both are possibilities. You won’t be able to buy a bale with 100k, but you can select and combine the individual items. Wash them, and then pack them up carefully. You just need to do some marketing, and then you’ll start seeing your money multiply.
10. Cleaning services
Some individuals find it difficult to clean their homes because they are busy from Monday through Friday, have commitments on Saturday, and all they want to do on Sunday is rest. This makes it difficult for them to clean their apartments. You won’t have to spend up to 30,000 dollars on gear, and you’ll be able to clean six residences in a single weekend.
11. Home cooking and delivery
People will pay a good amount of money for your services since you can prepare a variety of dishes well and provide excellent customer service. You can run this business from the comfort of your own home because @Soup_A_Market and @Marrgarritah are more than capable of instructing you on how to get started.
12. Digital Marketing
The capacity of a company to efficiently contact its bustling client base is essential to the company’s success; this is accomplished through efficient marketing: Acquire a Used Laptop and Smartphone, and for the time being, your smartphone can serve as both your hotspot and your laptop. The keys to success are tenacity and enthusiasm.
13. Cakes and Confectionery
People usually celebrate, and bakers are always consulted for this particular line of work. This is one company that always comes into action. You can ask my manager here at mycreamydelight.com. Acquire the necessary skills, a good oven, the enthusiasm, and the will to serve customers. You’ll grow! They are also willing to undergo training.
14. Aso-Oke Beading and Stoning
Beading and stoning in the Aso-Oke style, which has grown increasingly popular recently, is yet another lucrative enterprise that may be launched with a capital investment of one hundred thousand dollars. Beadwork is the key to unlocking your creative potential; all you need to do is learn how to do it. Ask my padi @wuragold2 The Girl Who Is Also Okay. She made the announcement from the safety of her house in IB.
15. Bead Making
I’m not sure there’s a whole lot more that can be said about this. You only need some training, a passion for what you do, some imagination, some truly original designs and styles, and then some proper marketing. There is no way that you will need $100,000 to get started with this.
16. Home Service Barber
This is another another profitable enterprise suitable for a modest scale. The wonderful thing about this is that you bring your services directly to your customers for a token payment that is in addition to the standard one. The initial investment needed to purchase the equipment, and as you are probably aware, our clippers are rechargeable.
17. Tutorial Classes
It doesn’t matter how old you are; this is another career that pays well, and you may do it either part-time or full-time. There are many households that are prepared to do whatever it takes to ensure the success of their children, and there is a topic in which you are particularly knowledgeable. Simply fill in the blanks and satisfy their demand for a payment.
18. Internet Services
Do you know how much applicants spend only to have their Jamb applications filled out online? Forget about the internet’s widespread reach and the fact that users may use it on their mobile devices; are you aware of how much applicants pay? You will require a reliable computer system, printer, and Internet service provider. People can spend up to a thousand dollars on a single application.
19. Production Of Zobo, Smoothies, cocktail, small chops, cupcakes and chinchin
You’d be aware that the significance of this combination can’t possibly be overlooked. You can provide these services with a startup capital of one hundred thousand dollars in addition to appropriate marketing, branding, and packaging. @aisinshugga @DojaCulinary can train you.
20. Production of Hand-Made cards
Do you know that people will spend a significant amount of money for anything that is constructed of paper and strawboard? This is one enterprise that you won’t need more than one hundred thousand dollars to launch. My pal who runs @CraftsVillageNG got his start in his bedroom! And he was successful with his cards.
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