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Saturday, November 21, 2015

5 Lucrative Small Businesses to Start in Nigeria for less than N200,000

There are so many businesses you can start in Nigeria for a very little amount of money and you can within a couple of weeks be smiling to the bank. Let me state that I’m not saying you’ll become rich overnight with little stress, I’m merely saying these businesses don’t require much startup capital although they are very challenging and require a lot of attention at least at the initial stages for them to yield the desired results. Overall I’ll say if you find a suitable location and have a solid marketing plan in place you should be able to recoup your investment in less than 4 months and even increase your income two or three folds within 6 months. I’m confident in recommending these businesses because of the existing market trends which show growth.

5 Lucrative small businesses to start in Nigeria 2016
Here’s the list;

Shawarma and small chops
Shawarma is one of the most items on demand in outdoor evening hangouts for young romantics and it’s increasingly gaining prominence among young Nigerians especially in cities like Lagos, Abuja, Port Harcourt and Benin. At some shawarma joints in Abuja I know of more than 60 orders are placed daily at average cost of N1,000 that’s N60,000 from sale of Shawarma only, now think how much sales could come from offering roast fish with chips, suya and drinks.
Startup requirements: a stand for placing your machine, Shawarma machine, condiments and ingredients for preparing your shawarma, drinks, furniture, entertainment system and working capital.

Reselling Palm Oil
Palm oil is one of Nigeria’s best consumed agricultural produce although there are health concerns about the quality of locally processed palm oil and cholesterol levels however if you can prove to your customers that you sell well processed and health friendly palm oil you’re already in business as many middle class consumers are becoming increasingly health conscious.
Startup requirements: N150,000 startup cash to purchase stock, 100 jerry cans of various sizes, capping machine and N30,000 for marketing

Hair and Beauty Salon
Anywhere in Nigeria you find women who earn an income regularly, you’ll always have a way to make money setting up a hair and beauty salon. The trick here is to be better than the average hair and beauty salon, if you make excellent hairdo women will flock around your salon like ants do to sugar.

Home and Office Cleaning
This business works best in top cities with a large number of middle class residents and offices such as Abuja, highbrow parts of Lagos and Port Harcourt. Your main customers would be hotels, schools, law firms, fast food restaurants, banks, IT companies and even private residences. Very few busy people who earn well have the time and energy to carryout basic home and office cleaning when they have plenty of work to deal with, so the demand is for professionals to render this service which is usually outsourced, the good thing is you only need basic cleaning reagents and tools which could cost less than N100,000 in total.  

Freelance Marketing
You can also start a small business as a freelance marketing/sales person approaching businesses with unique and lucrative products to help them find customers for which you get paid a commission for any successful sale made through your referral. For instance you may approach a real estate dealer, a car dealer, electronics shop, Education consultant/foreign school placement agency, hotel or car rental service. You make money by getting people who need these services to contact you for enquiries, when you answer their questions satisfactorily they’ll naturally want to know how they can make payment that is where you hook them up with the actual seller. But make sure you sign a contract with the seller so that you don’t work in vain. With as little as N50,000 you can start this business and what you mostly need is an online presence – website, twitter handle, Whatsapp number, email and thorough knowledge of whatever you want to market.

Thanks for reading my article, I’m Paul Onwueme a professional business plan writer contact me if you need a business plan or business proposal: 0803 206 4106