Are you looking to start a business and you don’t have a lot of start-up capital? even if you don’t have any capital at all, this article has 40 cheap businesses you to start in Nigeria with little or no capital.
Starting a business in Nigeria doesn’t necessarily have to be expensive. There are various affordable business opportunities you can explore but before we do that let’s look at the steps you need to take before going into these businesses. There are plenty of affordable and profitable business ideas waiting for you to explore.
The key to success lies in identifying a market need and providing a product or service that meets that demand. In this article, we’ll introduce you to some cheap and exciting business ideas that you can consider in Nigeria. Whether you’re a teenager looking for a side hustle or an aspiring entrepreneur, these opportunities can be the stepping stones to your success.
How to start a business
Step 1. The first step or key is to identify a market need and offer a product or service that meets that demand.
Step 2. Do a market survey, how much the business will cost, how much you will make, advantages and disadvantages of the businesses.
Steps 3. Study the business. You can virtually learn anything from watching YouTube videos. knowing the secrets of any business puts you ahead of other people in that business. it is very ok to know a lot about a business before you start so you can succeed in it.
Now that you know how to start, let’s see some cheap business ideas you can consider in Nigeria with details on how to start.
- Online Shop (E-commerce): You can sell things online without having a physical store. All you need to do is set up a website or use platforms like Shopify to show what you’re selling, and people can buy from you through the Internet. You can also post what you’re selling on different social media pages to get a larger audience. Some things you can sell that have large patronage is female clothes, shoes, wigs, kitchen wares, necklaces, beads, etc.
- Party Planner (Event Planning): If you’re good at organizing parties and events, instead of doing it for free for your friends and family, you can turn it into a career. You can help others plan their special occasions like birthdays and weddings. To do this you need to be able to find the right places, food, and decorations to make the events fun and memorable. This does not even require capital to start. all you need is to create a social page and brand name, then advertise what you can do. Talk to your friend and family about it and make sure to do a good job to get recommendations.
- Freelancer: Imagine offering your skills and doing cool projects for people online anywhere in the world. If you’re a good writer, a storyteller, a designer, or other talents. this is one of the very Cheap businesses to start in Nigeria with no capital at all. All you need do is register with freelance websites. You can find more information about freelancing and other online business to start on our DigitalpennyVest Marketing and e-commerce articles.
- Food Business (Food Stall or Catering): Eating food is essential to humanity, so if you can cook tasty meals, you can never go out of the food business in Nigeria. The food business is also one of the Cheap businesses to start in Nigeria with a little capital of as little as N50,000. You can start a small food business where you sell yummy snacks or meals. You can set up a little stall or offer catering services for parties and events.
- Phone Repair and Accessories: With so many people using smartphones, you can learn to fix common phone problems like cracked screens or battery issues. Then, you can help people in your area fix their phones and earn some money. you can also sell phone accessories to make it easy for your customers and yourself.
- House Cleaning Services: You can offer to clean people’s homes and help them keep everything neat and tidy. Lots of people are busy these days and lots of families would love an extra hand to help with cleaning. Get a complimentary card, and share your brand on your social media page to get noticed. with just 3 thousand nairas you can buy detergent and other cleaning materials for a start and over time you can expand, employ staff and get equipment to make your work easy and faster.
- Tutoring: If you’re really good at a subject, you can become a tutor and teach other students who need help in that subject. You can explain things in a way that’s easy to understand and help them do better in their studies. Tutoring is one of the Cheap Businesses to start in Nigeria that doesn’t require it.
- Laundry Services: You can offer laundry services to people who don’t have time to wash and iron their clothes. You’ll wash, dry, and fold their clothes neatly. You will need a shop, iron, washing machine, detergent, ironing board, etc to start. but it is a cheap business to start when you start small.
- Thrift or Okirika sales: The sale of second-hand wares from abroad is a popular business anywhere in Nigeria because the clothes are cheaper than new and they still look new. Starting this business requires as little as N10,000. You can buy these wears from Cotonou in bales or you can visit popular markets in Lagos such as Badagry, Balogun, Oshodi, Yaba market, etc. If you live in a different city you can visit popular markets in your city and you can find out how to get these goods from people who are already in the business. Another option is you can go to these markets very early and buy first grade and resell. This business is very profitable.
- Handmade Crafts: If you enjoy making things like bracelets, paintings, or cute crafts, you can sell them to others who like unique handmade stuff. You can show your creations on social media or websites where people can buy them. It is a cheap business that is done at your convenience.
- Babysitting: If you enjoy spending time with kids, you can offer babysitting services to parents who need someone responsible to watch over their children when they are busy. Get a flier and banner you can put in front of your house or a place you’ve rented to start this business. People are always looking for who can help take care of their kids when they are busy. You can charge per hour, weekly, or monthly so the parents have different payment plans.
- Pet Sitting or Dog Walking: If you love animals, you can take care of people’s pets while they are away or offer dog walking services to keep furry friends happy and healthy, this business is gradually coming into the Nigerian market. You can jump on this before it becomes too rampant. It’s not only a cheap business but also does not require any capital to start.
- Social Media Influencer: If you enjoy creating content on platforms like Instagram, YouTube, or TikTok, you can become a social media influencer. Brands might pay you to promote their products if you have a good following.
- Gardening Services: You can help people with their gardens by planting flowers, trimming bushes, and maintaining their outdoor spaces. This business is one of the cheap businesses that require little to no skill to start and learn on the job.
- Handyman Services: If you’re good at fixing things, you can offer handyman services, like fixing leaky faucets, assembling furniture, or helping with small repairs around people’s homes.
- Customized Gifts: You can create personalized gifts like custom-made keychains, mugs, or t-shirts and sell them to people who want unique presents for their loved ones. This is also part of the cheap businesses that require creativity, colors, and an appreciation of beauty.
- Car Wash Services: You can Offer car washing and detailing services to keep vehicles clean and shiny. With as low as N200 thousand naira you can start a car wash service. You can even do it as a mobile service, going to people’s homes to wash their cars, This doesn’t require any capital at all. Put setting it up as a company will require you to rent a space enough for at least 2 cars, and a running tap.
- Photography Services: If you enjoy taking pictures, you can become a photographer for events like birthday parties or family gatherings. If you have a good phone you can take pictures with it and also edit with the phone.
- Homemade Snacks: If you’re good at baking or cooking, you can make and sell homemade snacks like cookies, cupcakes, Moi-Moi, Meat pie, Shawarma, egg rolls, and Chips. you can vend on your social media pages, sell to supermarkets or stores or you can vend to schools or offices. All you need to do is package them neatly. People never get tired of eating so it will definitely sell and you make money from it.
- Jewelry Making: Create and sell your handmade jewelry, like bracelets, necklaces, or earrings, using different materials and designs. This is one of the Cheap Businesses to start in Nigeria with as little capital as N5,000 only.
- Personalized Artwork: Offer custom-made artwork or drawings for people who want unique pieces to decorate their homes. If you are artistic you can definitely make money from drawing and painting people
- Used car sales: Selling used cars is one of the Cheap businesses to start in Nigeria with no capital. All you need is social media and an online presence. Lots of young men sell cars and make huge gains on them. Start by posting pictures of cars that the owners want to sell, take pictures of the engine, the front, the back, the entire body, the seats, the kind of car, and the rage it’s going for or you can keep it open and let buyers know it’s open for negotiation. you can make up to N50,000 thousand selling a used car.
- POS business: POS business is a cheap business to start in Nigeria with just 50 thousand nairas only. People prefer to use the POS closest to them and then go to ATM machines that are usually located away from homes or banks where they will queue up. Some people make profits of 7k every day in the POS business. you too can open many POS stands and make lots of money.
- Fruit juice production: Making fruit juice is easy, anyone can learn to make it from YouTube videos. To make money from it, you’d need to sell in your area, in offices, or at bars and restaurants. Be strategic about it and package it in clean labeled plastic bottles of different sizes and prices. This one different kind of people will buy.
- Sports Viewing Center: Football is a sport loved by over 80 percent of people in the world. most of the time football is most enjoyed by watching with others. You can rent a place, buy one or two TV depending o the size of your venue and list out match days. you will always have people coming in to watch especially if you sell drinks. This is a lucrative and Cheap business to start in Nigeria with very little capital.
- Barbing Saloon: Starting a barbing saloon doesn’t require you to know how to give a haircut. You can employ people who can and also employ a cashier or accountant for accountability purposes. You can start this business with as little as 100k to 300k depending on the area and cost of renting a place. you can get two barbers to start. people have haircuts on a daily basis.
- Sales of Ankara: As Nigerians, Ankara is our traditional attire, and most often people sew Ankara as casual wear and occasionally. you can buy bulk Ankara from big markets in your area like the popular Ariaria market in Aba, Abia starts. we also have such markets in kaduna, Kano, Suleja, Anambra, Lagos. where things are sold to retailers at very affordable prices so they too can make gains from selling the goods.
- Sewing material shop: With the rise in fashion design in Nigeria. People forget that sewing materials are bought too. You can open a shop for the sales of sewing materials. tailors and fashion designers will patronize you daily as they make clothes. you can start this business with as little as 200k and you will have a full material shop ready to make money.
- Oil perfume sale: Saling oil perfumes is by far one of the Cheap Businesses to start in Nigeria With just 5k you can start the business and the amazing thing is you can carry your perfumes anywhere you go and you can make over 💯% gain on each bottle of perfume. It is cheap and convenient to carry around. You can sell to your colleagues at school, work, church, on the bus, or hang out with friends, and you don’t need to learn how to make it. You just buy them from wholesale shops and resell them.
- Restaurant or Buka: People like to stop by for breakfast, lunch, and dinner every now and then. Starting a Food business is not just cheap, it is also easy to start. first of all, look for a busy area, rent a small space, and with just an umbrella you can start selling and making good money. But it is important to cook food that is tasty and most eaten, like swallow, rice, and beans.
Other Cheap businesses you can start in Nigeria with little capital are:
31. Sport betting
32. Provision shop
33. Solar energy installation and equipment
34. Iceblook sales
35. Ebook sales
36. Pure water sales
37. Event Ushering
38. Beauty Salon
39. Bridal renting shop
40. Meshai / Noddles joint
With all the many budget-friendly business ideas listed in this article to choose from, you have the chance to start your own venture in Nigeria. It is important to know that when looking for Cheap Business to start you should Choose the right business idea that aligns with your interests and skills, this will lead to a successful venture. Whether it’s setting up an online shop, offering party planning services, or providing phone repair solutions, there’s a path for every skill and interest. Remember, entrepreneurship not only lets you make money but also teaches you valuable lessons about responsibility. Carefully choose the right Cheap Business to start. It’s time to turn your dreams into reality and embrace the rewarding world of business.
I hope this article was helpful and has given you ideas for a Cheap Business you will like to start to pursue your passions and enjoy the exciting journey of making money.