This article will teach you about 20 business ideas that might assist you in solidifying your financial life and confidence. This list includes suggestions that may necessitate the acquisition of a skill or training, as well as farming experience or natural abilities.
It’s commonly believed that you’re deformed if you’re not informed. The prompt arrival of the correct and precise information can sometimes change a person’s life permanently.
Many people spend 4-6 years in school pursuing subjects that may or may not lead to their desired level of financial success. Many people complete their education and then spend years looking for work. It doesn’t have to be that way.
You don’t have to wait for them to hire you to realize your ambitions. There are numerous business ideas that can help you earn more money than the monthly salary you would be receiving.
All of the business ideas listed below can be realized with a budget of N50000.
1. Sales of gently worn clothing, shoes, or handbags (Okrika Clothes)
Many ordinary Nigerians choose to buy secondhand products rather than new ones. Their financial situation, as well as the requirement for durability, can impact their decision.
Because of this, Nigeria’s Tokunbo (reasonably used) market is particularly huge. And with this, you can choose it among other business ideas.
You can buy a bale of gently used clothes and start your own Okrika business for N50000. Profitability is assured because this type of business is unaffected by the seasons because people dress whether it is raining or sunny.
Importing these things is likewise inexpensive, but if you are unable to do so, you can purchase them through other importers for a price.
2. Shampoo Manufacturing and Distribution
Shampoo production is a lucrative business, and a small-scale shampoo production operation can be started for as little as N50,000.
The shampoo is as important to hairstylists as a hair clipper is to barbers. A large number of hairdressing salons can be found throughout the country. In order to complete the task that their clients have paid for, these salons require the service of a shampoo.
Shampoo ingredients are widely available, and small-scale manufacture does not necessitate the use of machinery or expensive and complicated equipment. All that is required is manual mixing of the components by hand or with any other aid.
Local salons and businesses, as well as supermarkets, can be provided with shampoo. Profitability is high, and it is not a seasonal or gender-specific commodity, however, females are the most frequent customers.
3. Noodles as a Fast Food
The noodle-cooking company is a successful, simple, and low-cost fast-food venture among other business ideas. Noodles can be sold to children, teenagers, and adults of any gender, therefore it lacks specificity.
Most university students, particularly those who live in hostels, rely on fast food for breakfast, lunch, and supper because cooking is not permitted in most hostels, as it is at the University of Uyo in Akwa Ibom state.
Fast food is often preferred by travelers and laborers who cannot afford to eat at a high-end restaurant. In this situation, setting up a booth near a school, university, hospital, or densely inhabited region would be advantageous.
You’ll need a burner or any type of cooker, as well as a good area, a table and chairs, and other items to start noodles cooking business.
4. Yogurt Manufacturing
Within the yogurt industry, there are subgroups of various business ideas you can choose to focus on. It’s similar to a university with several yet connected departments.
You can be a yogurt provider, seller, producer, or, even better, a jack of all crafts by doing all three at once.
Yogurt production appears to be the most profitable of the three possibilities. If you want to start making yogurt, N50,000 will only get you started with a modest scale operation that can be scaled up with time and profit.
Yogurt will need to be refrigerated or frozen. All you have to do is gather the ingredients, combine them according to the recipe, freeze, and package them, and you’re done! You’re on your way up.
5. Chin Chin Enterprises
This is yet another wealthy and profitable business that has no seasonal sales fluctuations or age/gender specificity. Chin-chin is created by frying, which necessitates the use of oil.
The materials used to make chin chins are inexpensive, easily accessible, and readily available. The ingredients can be found in a supermarket, a small store, or a market.
The chin-chin that has been created can be packaged with or without a printed label. It can also be packaged in a bottle and distributed to school canteens, supermarkets, and retail outlets, or sold directly to customers.
6. Popcorn Company
Paying a visit to a cinema is a good way to experience for oneself how profitable this business can be. You’ll be surprised at how popular this snack maybe.
Popcorn is a popular after-school snack. Popcorn manufacture is neither difficult nor expensive. You’ll need a popcorn machine if you’re going into small-scale production and sales.
You can get by with a little old machine if you don’t have the funds to buy a brand new one. On Jiji or olx, you can look for a secondhand popcorn machine. You can also look for a new popcorn machine on Jumia, Konga, or any other offline retailer.
Popcorn marketing is far too simple. You can sell them to supermarkets, amusement parks, school canteens, and retail stores, among other places.
7. Rearing Snails
Snail farming is among other business ideas that many Nigerians neglect. At the very least, I’ve seen a snail farmer selling his snails, and the price for a bucket of those snails was not cheap.
Snail farming can be a successful enterprise. Snails are easily available, simple to rear, and have a minimal level of competition.
8. The Fast Food Industry
Fast food is an alternative for individuals who cannot afford to establish a large hall that will function as a restaurant or build one with split unit air conditioners positioned at all angles of the eatery.
A fast-food business can be started with as little as N50,000 Naira. All you need is a good spot or a place to stand. Food can be prepared at home and then carried to a retail location.
Travelers frequently stop by to dine, and those who cannot afford the pleasure of dining in a fine establishment will do so at your establishment. Additionally, the folks in the region will patronize you.
Cleanliness is one trait that must be maintained above all others. It is critical that your space be as clean and fly-free as possible.
9. Paint Manufacturing
Small-scale paint manufacture entails combining the components of paint in a bucket with the help of a stick and packing it for sale in an existing bucket.
Paint components can be purchased from chemical stores. You don’t need to make your own container; simply mix and pour into another paint’s container and you’re good to go.
10. Snacks Baking Company
Snacks like chin-chin, fish rolls, buns, pork pies, and so on can make you a lot of money if you advertise them strategically. If you do it well, you may be able to work part-time for companies or other bakeries while continuing to manage your own business.
11. Electronics Repairing Service
This line of work necessitates aptitude and expertise. If you have experience fixing gadgets such as televisions, radios, and refrigerators, all you need to do now is gather the necessary tools and choose a suitable spot.
Aside from abilities and aptitude, you’ll need a strong reputation to advance in this profession. You must maintain vigilance and safeguard your reputation.
If you can’t fix the broken gadget, notify your client it’s beyond your capabilities rather than keeping it or assuring them it’ll never be fixed.
It’s a significant hit to your reputation if you claim it can’t be repaired again and they get it repaired somewhere else.
12. Business of Phone Accessories
Among the list of business ideas, phone accessories are popular among young men, but they may be done by anyone. Almost every Nigerian owns a cellphone, therefore repairs and replacements of phone parts are unavoidable.
Chargers, earpieces, memory cards, phone casings, and other accessories are sold in the phone accessories business. It is an extremely profitable business with readily available goods.
13. Making Soap
It’s nearly hard to go a day without using soap, whether it’s for bathing, dishwashing, car washing, or dry cleaning.
Soaps, both solid and liquid, are simple to create and sell. The components are readily available, and the soap can be sold to restaurants for cleaning services, markets, and shops, among other places.
14. Cake-making enterprise
N50,000 can get you started in the cake-making industry. This type of business necessitates a high level of expertise. You’ll need to learn how to make cakes in a little and large sizes. The cake business can be run on-demand or as a finished product that can be sold at any time.
15. Shoe Manufacturing/Sale
If you have the necessary talents, shoemaking can be a highly lucrative business. Every sensible Nigerian wears shoes, whether it’s to job, school, church, or at home, therefore shoes are a given.
Only N50, 000 Naira is required to establish a shoemaking business. Cleaning Service for Dry Goods
You can earn money by doing the laundry and ironing for busy people. Dry cleaning is a high-paying career that isn’t seasonal.
17. The Decoration Industry
During weddings, birthday parties, conferences, and other social or commercial gatherings, people look for hall decorations. It will be a wise decision to get involved in this industry.
18. Car Washing Service
This is another low-cost business endeavor that has brought in thousands of Naira for those participating. It entails the charging of a fee for car washing. For this business, you’ll need the necessary soaps, water, brush, and site.
19. Used Book Sales
This is similar to Okrika clothing, shoes, and bags sales. When a brand new book is out of its price range, many turn to used books. Selling old books is a profitable business idea to consider because they are inexpensive to purchase.
20. Designing a Website
You can make up to $300,000 with just website construction and design on your laptop. This takes very little, if any, the capital. All you need are the necessary knowledge and skills, as well as your laptop.
And fortunately, that is one of my fields of expertise. I conduct a monthly Entrepreneurship & ICT Capacity Building Training in partnership with Brekete Family/Academy.
You can reach me at 09050383911 if you are in Abuja, and in case you are not we conduct an online training as well. Please share with friends and family and please subscribe to my YouTube Channel here. You can start learning for free there.
Make sure you please make your research at the time of your reading this post, is possible that things have changed positively around the niche you choose.
Thank you for reading till the end. It simply tells me that you are not ready to settle for less. To help you stay connected with me and my blog, here is the link to my Android Mobile App from Google Play Store, Please Download and install.
Please subscribe to my YouTube Channel here. And follow me on Instagram and like my Facebook page. In case you will need to speak with me via Whatsapp related to ICT consultation. Please share around and drop your comment suggestion below.