Nigeria is a great country lacking good leaders that terminate youth financial empowerment completely while there is no good paying jobs powered by government, this has lifted poverty in the country by 20%. We have notice about 70% Nigerians want to start their own business due to lack of jobs and youth empowerment. We have put together this list of small businesses to start in Nigeria with #5,000 or #10,000 Naira.
We notice getting loan is not that much easy process if you don’t have any business of some thing that could stand as collateral for you, there for this make it almost impossible for the young up coming entrepreneurs getting loan of good amount that could empower standard business at the beginning. This list of business will help you to get started to the extend of standing big in the industry of entrepreneurs. All the business ideas listed on this post are businesses that someone can easily start with 5000 Naira to 10000 Naira.
8 Small Businesses to Start in Nigeria with 5000 or 10,000 Naira
Remember it better you have something doing than begging, no mater how small your business is, it far better than begging a.k.a babi-ala. There are so many business one can start with 5k to 10k but i will be listing just few of them here which i think are more lucrative in Nigeria.
1. London Used Cloths (OKREKA)]
Okreka are cloths that are been used outside the country that where imported into Nigeria by some importers. About 48% Nigerians wore okreka but you won’t know because they are first class okreka. the facts is that you won’t be able to differentiate okreka and ready made if joined together. Many boutique in Nigeria stock their shop with okreka and sell them at higher price.
Starting this business is a good idea for lagos resident and some popular places resident. This is the most currently moving business in Lagos which the young youth venture into, and it yielding good amount of money. This business doesn’t required shop to start with if you don’t have the cash, no worries. If you have been to Lagos or live in Lagos then you should understand better why you don’t need a shop to start okreka business.
The people in this business are merely find in popular areas of lagos such as railways, All they do is arrange the cloths on top of a wide nylon or table. This business doesn’t even required full day and won’t disturb you of your other daily activities. The main appropriate time for this business to start is during the evening when workers are returning from work at (4:30pm-7:30pm).
Buying Okreka cloths set, cost from #10,000 to #20,000 and you could find more than 200 pieces of cloths inside a complete set.
The people selling this cloths sell them from the rage of #500 to 1200. Now if you have a set of cloths bought for #10,000 and find 200 cloths worth of #500 each, how much will be your profit? if we should calculate it 500 x 200 = #100,000 – #10,000 which you bought it = #90,000 – #4,000 for transportation = #86,000 wow definitely you will make #85,000 profit in less than two weeks if you are smart and God is in your side.
Which Nigeria company are ready to pay their workers such salary this days? Note, to succeed in this business you must have to terminate any act of shame in you. you have to act smart calling customers, shouting etc. You have to take it as your means of survival, since you are not stealing you definitely have nothing to be ashamed of.
2. Pure water/bottle water business
If you are living in a popular location such as Lagos then pure water business could be a very good option, this business doesn’t required a lot of start up capital. with just #3000 to #5000 you can start this business in a stable way.
You don’t have to hawk yourself. All you have to do is meet with those people selling pure water/table water along the road and tell them that you are willing to sell to them at a lower rate from the normal price they are buying.
Even you can get those jobless beggars in your area to hawk this sachet pure water for you and on every bag sold they get N50 naira on it while you keep the rest. Afford their lunch, and try to be kind to them, get them a hocking bowl. You can include table waters and caned drinks such as team drink etc. those people hocking sell more than 20 bags of pure water daily if God be for you.
You can get as much as hawkers up to 10 or 15 of them to be selling for you on different location in Lagos, you will be making up to #3000 from this business daily, it highly better than begging or being jobless. The cost of pure water at wholesales is currently #80 naira per bag.
3. Buying And Reselling.
This is one of the business many people don’t know much about in Nigeria, There are only few people in this business and they are really making it, This business is profitable more than you can ever think and the good part of it is that you don’t have to under goes factory working stress. No shop is needed, this business requires a start up capital of up to #10000 naira or above depending on the item you will be dealing on.
How is it done?
This business is the act of sorting for items to buy online and sell them again online. The profitable side of this business is buying already used properties that you can resell and make good money. Phones and computers are the main target items of this business if would like to make good amount of profit.
The secret is that, so many reasons prompt people to sell their current mobiles or laptops, some reason are because of urgent needs for money to solve another issues that is more vital to them than their property. Therefore they will put that property for a very cheap price to be able to get a buyer faster.
All you have to do is meet with the seller and confirm that the item is working 100% perfectly and also be sure the property belong to him/her. Buy item and re-post it for a higher amount of #10000 naira more profit.
Keep repeating this till you could be able to rent your own shop. It a cool business and some wise entrepreneurs are really making it greatly with this business now, because it still very new in Nigeria.
4. Noodles preparation business
This business doesn’t require much money to start, you can start with small amount as #2000 to #5000 depending on how you want it to look like. This is an act of preparing noodles, using bread and egg in preparing messiah, it doesn’t have to look like that of local once the Hausa guys in your area does.
You can make a neat place for it, build it round with planks or plastics cover then wrap the body up with wrappers, ta-poling or what so ever that will make it acceptable and very neat. You can be doing this business in advance way where as using take away parks.
You can also be supplying to office workers of that company in your area at their break time. In a short while you will have their contact and they will be calling you to bring for them. This business is at a medium level lucrative if you give it a time and try to do it in a modem way, you can be earning #4000 to #5000 daily from it.
Some people look this business down while some others are making it big on this business, i know of someone running this business and his shop is always busy because he did it in advance way to the extend of selling noodles #500 Naira per plate which include chicken and any soft drink of someone’s choice.
5. Mini meet pie production.
This business required #10000 naira and above if you don’t have it requirements yet. The requirement to start the business are
- Pot or Frye pan
- moiling board
- Rolling wood
- Stove or electronic cooker or gas cooker
Most of this requirement listed above are not cost to get, the only expensive item there is the oven. The good thing is there is now a mini oven you can get as low as #3000 and it very perfect for a start. You can start this business right from you home without a need for shop, all you need to do is meet with fast foods and those people selling meet pie and egg rolls along the road. Offer to be delivering your product to them at a cheaper rate of #20 Naira from the normal price they use to buy, treat them very well and hold them customers.
Collect their number and always call them to know when they will be needing meet pies. I know of a lot of people who started this business with this method, they now have bakery of their own and buses which they use for delivery now. This is a business that really yield wide in future, but first you have to acquire the production knowledge from those already on the business or get a dvd tutorial to help you archive this.
6. Liquid soap production.
Today many people now venture into liquid soap production business because it easy and selling faster, people uses soap every day, and there is this nameless new popular liquid soap with green color mostly. This soap are produced locally and doesn’t required much start up capital, it very possible to start this business with just #5000 Naira.
Before you start this business firstly it recommended that you meet with your neighbors and tell them of your new idea and when you will be starting production. Tell them you will be supplying them at a low rate from the normal price they use to buy.
If you are making #50 Naira from each soap you sell and you are able to sell 20pcs of soap daily then you will be making 1000 Daily, you can also inform some retailers to be patronizing you. This could not be source of good living but you can be able to gather some good amount to start a better business from it. And it much more better than begging or stealing
7. Call center agency business
Starting a call center egency is another way of making money. You must called the customer care service of a telecom network or even a company customer care before. Have you send a message or complaint email to a corporate organization before? Wow do you know that those who take your calls or respond to your complaints message/email accordingly are not employees of the companies you patronize; neither do they operate in the premises of the company? Yes they are not!
You can setup a call center agency and start working for companies on a contract basis. The good part of this business is that it doesn’t required huge start up capital, you as much can always start small by becoming a call center agent from your home, as it doesn’t require much startup capital unless you choose to step up by employing helping hands.
The requrement to start this business is a good working telephone.
You can choose to add a computer when ever you wish to, it not couposery
How to get clients is by meeting with companies, you can start by submiting poposal to companiess, luckily you might just get pick by any of the company and award you the contract.
8. Daycare centre business
Nigerian needs for good managing childcare service is increasing. many Parents are really working hard in other to generate enough google amount of income to keep the family moving, this has been leaving them with less time for the children. and want their children to be taking care of by someone worthy enough.
Though there are many day care centre out there, If you can come into field with exceptional service and creativity, you will surely be making money from this business. You don’t have to start with setting up a day care service, you can easily start this business right from your home.
Those who lack the capital and experience to setup a full-scale childcare center can still make profit of this area of business by starting a small scale Nanny agency or babysitting service.
Some other small businesses to start in Nigeria are
- Real Estate Agency
- Proposal writing
- Information Marketing
- Selling Fruits
- Web publishing
- Selling honey
- Freelance marketing
- Home tutoring
- Freelance writing
- Affiliate marketing
- E-books publishing
- Crafts business
- Weight loss classes
- Bead making
- Exercise Instructor
- Business plan writer
- Party Planner
- Business broker
- Carpet Cleaning and car washing
- Aerobics Classes
- Corporate Cleaning Services
- Dance Instructor
- Computer instructor
- Graphic Designer
- Mobile Phone Repairs
- Web designer
- Charging of car and phone batteries
- Cooking service
- Time management consultant
- Cosmetic sales
- Event Management
- Employment Agency
- Fruit Selling such as Apple, Pineapple etc
- Event Planner
- Ezine Publishing
- Hair Stylist
- Freelance photographer
- Make-up Artistry
- Ghost writer
- Food Delivery service
- Greeting cards designer
- Home made story books
- Internet recruiting
- Information broker
- Mailing list service
- Foreign Language Teacher
- Market research
- Music lessons
Need More Business Ideas? Now see 16 Businesses to Start in Nigeria with #20,000 #30,000 #40,000 #50,000 Naira
Advice: don’t make a mistake of using your small money in starting long run business all because you heard people on it is making millions (Ex. blogging, fish farming, Other Agriculture, importation e.t.c). These business are good but it a long run investment, they don’t start yielding on the first year. You can start small and gather more money to invest in them or else there will be a regret at the end, starting is easy but what is the profit maters. Many people who has went into blogging, fish farming, importation business with little amount start up capital in expectation of making millions within 3 months get frustrated out of it with a great looses. so be careful not to go into any online business or agriculture with #5,000 or #10,000 Naira.