Small Business in Nigeria You Can Start With Less Than N50,000 And Still Make Good Profit

Small Business in Nigeria You Can Start
With Less Than N50,000 And Still Make
Good Profit
Starting a small business in Nigeria has never been
easy considering what you’d have to go through to
raise business capital towards setting up and
running a profitable business. Basically, it’s all
about money money money! No Bank in Nigeria is
willing to help small scale businesses, and
Government seems to have no plan whatsoever for
the citizens who needs business start up capital.
If you are contemplating any business, you are on
your own if you don’t have enough money to
finance it. The worst part of it all is that most
potential profitable small businesses in Nigeria
needs much amount of money to get it started —
most times, far much beyond what average
Nigerian small business aspirants can afford.
Have you ever had a business idea — so bright
that it was just a matter of get it started and the
money starts rolling in, only to see the idea die
because no money to kick start the business?
That’s what 70 percent of Nigeria Entrepreneurs
experience on regular basis.

Sometimes, the little money you have can’t just be
enough to start anything reasonable no matter how
hard you tried. Because of these, many people are
finding it difficult to figure out any small business in
Nigeria they can start with small amount of money
and still make reasonable profit.I’ve taken the
burdens off you by taking time to come up with
small businesses that promises good ROI.
Below are some of the best small businesses in
Nigeria that any aspiring Entrepreneur can start
with N50,000 or less and make substantial profit in
it.
1. Plantain Chips Making – Move around the street
and you will see different brands of Plantain chips
on sale and it sells very very fast. People just like
chewing stuffs and there is no end to it, so if you
can engage in the business of producing and
supplying it, you will be making good money on
daily basis.
All what you needed are: Big Frying Pan (N3,000)
Small Sealing Machine (N15,000) The Nylons and
Labels (N2,000) Other Utensils (N5,000) The rest
N30,000 goes into buying of Plantains and logistics.
Supply to the shops and to hawkers and you will be
making your money.
2. Tokunbo Shoes – I like quality leather materials
and that’s why until recently, all my shoes and bags
are bought from the used shoes and bag sellers. I
used to get some top class shoes for N3,000 by the
roadside back in those days when I can’t really
afford high quality designer shoes that cost N50,000
or more.
Many people out there are just like me — Instead of
patronizing those fake China shoes and bags, they
prefer to buy high quality fairly used ones which last
longer and confer you with more respect.
Get a nice place where you will be displaying your
goods like in front on shopping malls. Go to Fairly
used market (Katangowa or Aswani in Lagos) you
may go to Seme Border or Kotonou. Select quality
fairly used shoes, look for designs that are close to
the latest fashion. N40,000 can get you up to 40
pairs of shoes. Sometimes you make profit of up to
N3,000 from a single sell.
3. Used Books – You used to see them by the
roadsides and you’re wondering if the seller are
making money from it? Try it and see! You will be
surprised at the profit margin, and you will be
amazed at the rate at which Nigerians buy different
books.
Follow the same process as it is with the used
shoes but you buy at different markets. Used books
are sold in importers warehouses, locate one and
go there to select nice used books, Children books,
Professional books, Hand craft books, etc etc.
These types of books sells very fast with high profit
margin. N50,000 is more than enough for a starter.
4. Office Supply – People who works in offices finds
it difficult to go out to the market to buy certain
things like Wrist Watches, Shirts, Ties, and
Perfumes. Help them do the shopping and charge
moderately, don’t be greedy like other suppliers
who buys fake things for N1000 and wants to sell
for N10,000 in the name of office.
If you are honest with your business and charge
reasonably, you may even get huge supply contract
form some of the people you will meet in those
offices. N50,000 will do good in these type of small
business in Nigeria and you will smile at the brisk
business you will be making.
5. Road Side Foods Vending – If you are the hard
working type, this small business in Nigeria may be
for you. I’ve seen people buy cars and build house
from this business. It’s one of the few businesses
that guarantees steady flow of profit no matter the
weather, no matter the economic situation.
Specialize in cooking Jollof Rice and Beans, Moi
moi, Fried Plantain, Custards, and Fried Eggs. You
will be friend of the people and the people will be
your friend! Look for a hot spot, like the bus stop,
near Motor and Okada parks or busy shopping
malls.
Thirty Thousand Naira (N30,000) will get you all the
utensils and small tables and chairs. While N20,000
goes for food items and settlements.
Please if know any other profitable small
businesses in Nigeria that one can start with
N50,000 or less — write in the comment box below
and let’s get the business started