As the economy bites, more Nigerians have begun seeking for alternative means of income; and many of them have turned to business ventures that do not require so much capital.
ZENITHBLOG.com has drawn up a list of 10 lucrative business ventures which can be set up with capital of under N100,000.
The businesses include mini-business center, restaurant business, Snail farming, broiler rearing and sales, bead-making, beer parlor business, etc.
Depending on the location, packaging and marketing, these businesses can provide huge profits for entrepreneurs who are seeking for a means of sustainable livelihood.
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The list is as follows:
1. Mini Importation business: This is a very profitable business venture and can be started with as low as 10,000 naira.
Profit is made on sales, and one can take time to learn the rudiments of the business even from internet sources.
Products can be sourced based on what is high in demand in the market.
A container laden with goods is pictured making its way to port (Photo credit: dunamisblog.com)
2. Restaurant business: Food is one of the vital commodities of life, and it follows that food business will be very lucrative.
It also does not require very high capital to start, and you can begin the venture with as low as 70,000 naira.
To make the business more appealing, an entrepreneur must strive to ensure maximum cleanliness, and also offer an ambience that would help to entice customers.
A food vendor dishes out food to her customers (Photo credit: jiji.ng)
3. Mini Business centre: This is a higly lucrative business, especially if the location is cited in areas where there are tertiary insitutuinons.
This location would be ideal for such a business, as it would cater to the needs of undergraduates and post graduate students who are saddled with projects and assignments that need to be typed and printed (or photocopied).
With 100, 000 naira, an entrepreneur can purchase a set of second-hand desktop computers, a photocopying machine, and some desks and tables.
To make the business more enticing, snacks and drinks can also be added for customers to purchase and feed on, while they get their work done.
A computer center operator seen photocopying documents for customers (Photo credit: wealthresult.com)
4. Bead-making business: This is an ideal business venture especially for women, and requires little capital.
As more women seek ways to beautify themselves, there is a high demand for ornaments which can be worn to various occasions.
With under 30,000 naira, an entrepreneur interested in this business can get trained on how to make the beads.
After training, materials can also be purchased with low capital. The business can then be pushed on social media or by word of mouth, both at virtually no cost.
Business cards can also be printed out with under 10,000 naira.
If one learns the craft well and creates beautiful beads, the business will thrive for a very long time.
An entrepreneur displays her beads (Photo credit: nairawealth.com)
5. Snail farming: Snails are in high demand among upper class people, and they are sold at expensive rates at restaurants and hotels where they are served, making them an ideal business venture.
This business also requires reduced capital of between 50,000 and 80,000 naira.
With this amount, you can begin snail farming in your locality, and then sell the snails to various restaurants and hotels.
A Snail farm in Nigeria (Photo credit: Zenithblog.com)
6. Broiler poultry farming: This business does not require much skill, and is relatively easy to start.
It is also inexpensive, as a day-old chicken (broiler) can be purchased with as little as N150. 50 chickens would cost N7,500.
You can then begin selling these broilers in less than 9 weeks, after rearing them.
The most important requirements in addition to the boilers, is space and adequate water supply.
A chicken farm in Nigeria (Photo credit: wealthresult.com)
7. Beer parlour/ viewing center business: Beer parlors are a thriving business venture as more Nigerians seek locations to unwind, relax and refresh themselves.
This business usually attracts a large clientele when located in a good location. The business usually booms over the weekend or at night, as people seek for places to wait-out the traffic before heading home.
With Nigerian males especially, there is also a high demand for places to watch football matches with friends, coworkers or family members; making such ventures highly sought after.
With under 100,000 naira capital, a beer parlor can be set up. A second-hand flat screen TV can be purchased with less than 40,000 naira.
To attract customers, endeavor to always have very chilled drinks. Delicacies like suya, chicken barbecue and fish pepper soup can also be added.
Customers seen unwinding at a beer parlor (Photo credit: jumia.com)
8. Liquid soap production: This business requires basic knowledge of chemistry, and can be started less than N80,000 naira.
After learning how to manufacture the products, you can then source for restaurants, hotels, schools, etc., to supply them to, and make a nice profit.
An entrepreneur manufactures liquid soap (Photo credit: dayoadetiloye.com)
9. Small scale fish fingerling farming: With between 80,000 and 90,000 naira, one can venture into this business and make good profit.
Good climate conditions and water PH are necessary for this business to survive and thrive.
However, the business requires a great deal of attention and care.
A fish farmer seen tending to his fingerlings (Photo credit: nigerianinfopedia.com)
10. Phone accessories business: With millions of Nigerians purchasing phones in order to stay connected, this business is a highly lucrative one.
Phone accessories such as batteries, chargers and ear pieces are constantly been sought as old ones get missing or stop working.
With as little as N20,000, one can purchase accessories to start a business. However, if you want the business to be large-scale, then you must be prepared to invest more money.
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Meanwhile, ZENITHBLOG.com previously drew up a list of five businesses which undergraduates can start with minimal amounts of money.
The businesses are buying and selling of second-hand clothes, hair dressing, noodles preparation business, photography and home tutoring /writing projects.
Watch this ZENITHBLOG.com TV video of traders discussing how Nigeria’s exit from recession has led to a gradual drop in prices of commodities
Source: Zenithblog.com
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