A major barrier to many thinking of starting their own business is the perception that start-up costs are prohibitively high. That doesn’t have to be the case!
Small businesses that can be started on a tight budget with N100, 000 or less, If you want to know what you could do with 100k, We at BukasBlog has put together a list of profitable businesses if you wish to start a business idea with limited start-up capital.
1. HAIR SALON
The services of barbers are forever needed. There are several barbershops this day, but what few are lacking is a standard hair salon. You can as well step up the business by making it a unisex hair salon for both males and females.
You can focus on home service, that way you eliminate cost of renting and managing a shop. You only need to learn the skill, get a quality clipper (rechargeable) and accessories.
“What all this prosperity means to you is that the prospects for people who own personal care businesses are bright. “Growth in the Salon industry, despite the recession is between 15-20%”, says de Freitas”
2. POP CORN MAKING
All you need to start this business is a machine, nylon, corn (maize), sugar, salt and butter. Manual sealing machine sells for less than 10k, and as well Popcorn Machine is N65, 000 on Jumia.
Popcorn can be served at birthday parties, schools and at various occasions.
3. SPORTING SOUVENIRS
Football team supporters always want to express their support for their teams. Customized sporting souvenirs such as jerseys, wrist bands, back packs, caps, neck mufflers, flags, branded car accessories sell very fast.
4. USED PRODUCTS
There is always going to be a demand for clothing, Jeans, Tops, T-shirts, and Shoes etc. all move pretty fast in Nigeria. Get your source, or even direct from importers.
N100, 000 may not get you a wholesome initially but you can make it a start, Dry clean them and pack in a branded form.
“Marketing is all it takes; it sells fast and is profitable”
5. HOME COOKING/DELIVERY
If you know how to cook, it’s as easy as 1-2-3 to cook your goods and sell it to neighbors, family, and friends. If the food is good and the prices are attractive, you can cook a variety of meals well and apply customer service, People will pay good money for your services, and you can run this from home, cook and deliver.
Most times you get part payment before cooking. So, this business is definitely profitable for any good cook and quite a catch.
Production of zobo, plantain chips, smoothies, cocktail, small chops, cupcakes and chin-chin is a good example of profitable, fast moving business you can start with less than 100k.
Find a place to learn how to make any of these (you can learn as much), package your own differently i.e. make a combo, get branded packs etc. and you are set.
7. WIG MAKING
Braided wig is currently a big deal right now and you can cash on it as long as you can braid.
“You can learn to braid”
Buying a doll and wig making tools does not cost much. You can produce a wig for as low as N5, 000 and sell for as high as N15, 000 depending on your skill and network.
Cakes represents seasons and times especially birthday celebrations, everyone keeps growing and majority will least buy sets of cakes to mark their birthdays.
All you need to do is print flyers and market digitally or do a word-of-mouth awareness within your vicinity
9. E-PAYMENT & POS BUSINESS
POS business is one of the trending businesses in Nigeria today. It is among the businesses to start with 100k and strives better in areas where banks are not situated.
Get a POS machine from your bank or from a pos machine dealer and activate online payment. That’s all you require and yes! For every withdrawal via your POS, you can charge 5%.
10. PHONE ACCESSORIES
Mobile and electronics accessories are of course one of the easiest businesses to start with 100k in Nigeria.
It involves the sales of chargers, pouches, USB cables, HDMI cables, earphones etc. And one of the interesting aspects of this business is that the more you buy, the lower the price. You can easily source for these items from Alibaba and various other sources. Since they aren’t too heavy, shipping will definitely not be a challenge!