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11 Profitable Businesses You Can Start With 50K Or Less In Nigeria 2022

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11 Profitable Businesses You Can Start With 50K Or Less In Nigeria 2022

11 Profitable Businesses You Can Start With 50K Or Less In Nigeria 2022

Tired of the 7-7 and no weekend regimented, office and salary work with less pay and more bills? Tired of your job and want to go into entrepreneurship? Look no further. This post will cover about 11 profitable businesses you can venture into and beat the demands of the economy.

It is due to the high level of unemployment that many Nigerians have become more interested in entrepreneurship and managing their own businesses.

Nevertheless, due to the uncertainties of the marketplace in Nigeria and several other African nations, men and women trying to start small businesses do not have enough resources to venture into entrepreneurship/business.

However, many Africans and indeed Nigerians are on the lookout for business opportunities that they can start with small capital.

Startups and small businesses are the bedrock of economies. This is because small businesses create jobs for people when the government and big private firms cannot.

11 Profitable Businesses You Can Start With 50K Or Less In Nigeria 2022

Nevertheless, small businesses help resolve issues in society. Furthermore, small businesses support businesspeople to grow into self-reliant and become economically viable citizens.

Have you ever relaxed and questioned yourself; what business can I start with 50 thousand Naira or less in Nigeria? If your answer to that question is yes, then you are on the appropriate article.

In this article, we are to discuss 10 businesses that you can start with less than 50K (50,000 Naira) in Nigeria. We will discuss the businesses that you can start with 100k (100,000 Naira) in our next article, we would love to reveal everything further and show you businesses you can start with a larger capital.

How To Start A Good Business With 50K In Nigeria

 

1. Blogging/ Content Writing / Vlogging / Affiliate Marketing or Drop Shipping

Content creation and the online market is the new gold mine in this 21st century. Everything is going online and the world of business has moved and is 80 per cent controlled online. In 2021, alone Billions of dollars has moved from the hands of advertisers to publishers and content creators. This would no doubt be multiplied in the coming years. Nigeria is blessed with raw talents and they have now mastered the art of turning themselves into the brand.

So In 2022, wait for no one, start from where you are and share your content. Either as a blogger, vlogger, commentator, marketer, start sharing and making yourself known online. Platforms such as Google, Facebook, youtube pay millions to creators every month and if you are a Nigerian in that league you will beat the standard of living when earning in foreign currencies.

A subsequent post will be made on how to start and run your own blog. The best bet you only need an internet-enabled device or gadget and data as well as your contents

 

2. Cook-On-Request Business

A wonderful business that you can start with 50k or less in Nigeria is a cook-on-demand business. A cook-on-request business is one where buyers reach out to you to help them prepare food anytime they demand it for pay. To begin this business, you need to have good networking experiences and good cooking skills.

The challenging aspect of this business is telling people about your services. But once more people know about you, you will be getting business through word-of-mouth referrals.

When you are about to start this business, make sure that you print complimentary cards including network. Another idea to put in view precisely fast is your pricing. Decide on your rates and be steady with that. Remarkably, what do you need to start a cook-on-request business?

Breakdown Of Cost

Cooking Utensils: 15,000 Naira (pots and spoons)

Complimentary Cards: 5,000 Naira

Total Cost: 20,000 Naira

 

3. Mini-Importation Business

If you buy items from websites like Alibaba and Aliexpress, one certain place to swiftly sell these items off is on e-commerce websites like Jumia, Konga, and Jiji.

Mini-importation is a great business concept that you can begin with 50k or less in Nigeria. The know-how with mini-importation is to understand the business so that you can make a good gain. The plan is to go for something lightweight so you don’t pay much when clearing them.

Here are amazing items you can import and sell very easily in Nigeria which include the following:

  • Selfie sticks
  • Car trackers
  • Headphones
  • Wrists watches
  • Phone cases

You can purchase some of these goods for as cheap as 800 Naira each, clear and package them and later sell them at 5,000 Naira, providing you with about 3,000-5,000 Naira profit.

Breakdown Of Cost

Capital: 30,000-50,000

 

4. Perfume Oil Sales

This is another example of a lucrative business that you can start with 50k or less in Nigeria is to be a perfume oil seller. Beginning this business is especially easy because you don’t need too much equipment to start. All you need to begin this amazing business concept is to get in touch with a reliable perfume oil supplier that sells the perfumes that your customers like.

You can get 10ML of a fragrance at 1,800 Naira then resell at 1,000 Naira per 1ML bottle to your customers. When you remove the cost of the 1ML containers you will be using, you can make as much as 500-700 Naira profit per 1ML.

Most Importantly, obtain perfume bottles (typically 1ML) with which to market your goods. Hereafter, you can start marketing your perfume oils and make an unbelievable profit.

Breakdown Of Cost

Perfume Oil(wholesale): 15,000

1ML bottles: 2500 for 50 pieces

Total Cost: 17, 500

 

5. Soap Production

Soap production is an amazing business idea that you can start with 50k or less in Nigeria. And the astonishing aspect is that you can start your soap production business from the comfort of your home. So what do you need to start your soap production business?

  • A molding machine
  • A cutting machine
  • A trimming machine
  • Necessary chemicals and substances

Breakdown Of Cost

  • Equipment Cost:N10,000
  • Soap Recipes Cost: Between N15,000 to N20,000.
  • Branding Cost: N20,000.

 

6. Noodle/ Snack Kiosk

Beginning a noodle stand is a business that is quite profitable in many parts of Nigeria. All you require to begin this business is a gas cooker or kerosene stove, benches for clients to sit and eat, and most importantly, a bustling area/neighbourhood.

Some noodle stands sell a plate of noodles and eggs for approximately 350 Naira. The plate of noodles usually consists of two packs of noodles and one egg. A pack of small-sized noodles costs 60-70 Naira and an egg costs 50 Naira.

So with a value price of 190 Naira, you can make a cool gain of 100 Naira on simply one plate of noodles if you factor in additional costs like the cost of kerosene or gas. Here’s an estimated analysis of how much it demands to begin the noodle stand business.

Breakdown Of Cost

Gas Cooker: 10,000 Naira to buy the cooker and fill it with cooking gas

Utensils: 7,000 to buy plastic plates, forks, and spoons.

2 Cartons of Noodles: 5200 Naira (at 2,600 Naira each)

1 crate of eggs: 1,300 Naira

Plastic chairs and tables: 10500 (8500 for 5 plastic chairs, 3000 for plastic table)

Location rent: You can rent an open location in many areas in Lagos for as little as 2,500 per month

Total Cost: Approximately 36,500 Naira or less.

 

7. Thrift Shop

To Start a thrift store is another excellent instance of a business that you can start with 50k or less in Nigeria. In particular, you can begin this business with as low as 20,000 Naira in Nigeria. Here’s how you can go about it:

Visit second-hand garments markets like Yaba or Supa Market in Abule-Egba, Lagos

Liaise with the second-hand clothes dealers in the market and select some of their best items

Package the clothes when you get home and start marketing to your target audience.

There are a lot of good clothes that you can buy at those markets at 500 Naira and resell at 1,000 Naira or 1,500 Naira. It is a great business to consider going into.

Breakdown Of Cost

Capital: Between 10,000-50,000

 

8. Jewellery/Bead Making

This is a business you can start up very smoothly. If you are experienced at creating jewelry, you can make necklaces and accessories and market them to people. All you are required to get is the materials required to produce them which is moderately much less than 50,000 naira.

Breakdown Of Cost

Capital: Between 10,000-50,000

 

9. Painting/Artworks

Are you skilled at painting? This is a business you can start up very smoothly. You can set up your art gallery and sell them to get money. All you are required are your painting materials. You can paint and sketch images and put them up for sale. However, promoting on social media is an effective method to draw the right clients to your business.

Breakdown Of Cost

Capital: Between 10,000-50,000

10. Popcorn Production

You can begin a popcorn-making business in Nigeria with very little resources and get a great profit. What you require to make a good profit in the popcorn-making business in Nigeria is a good location. With a good neighbourhood, you will be able to sell quite enough popcorn to break even and make profits.

Materials you need to start a lucrative popcorn business in Nigeria are a popcorn maker, a nylon sealer, and the corn itself. Let’s take see how much it costs to start a popcorn business in Nigeria.

Breakdown Of Cost

Nylon Sealer: 1,900

Popcorn Maker: 29,000

Maize: 13,500 (50kg)

Ingredients: 3,000 Naira

Total Cost: 46,500

 

11. Start A Printing/Branding Business

Another incredible business idea you can execute with little or no startup expense is the printing and branding business. To start this business, you need to relate with clients and professional printers.

In Lagos State, printers are mainly found in Mushin, Shomolu, and Ogba- find where printers are based in your area. After that, get their contacts, and start marketing your printing business to prospective customers.

When you get an inquiry, just call your printing contacts to get a quote for the job. Thereafter, add your commission to the quote and send it to the customer. If they decide to patronize you, you will start making money from your printing business without spending a dime.

Breakdown Of Cost

Zero. You can start your printing business without spending much.

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