Most people have this notion that starting a business requires a huge capital investment, but contrary to popular belief this is not so, the internet has paved way for people to actually venture into a lucrative business with a little or no cost and expertise required. There are also loads of Low Cost Business Ideas and training on the internet today, all you need is the ability to learn and implement.
How is that possible you may ask? Well, as long as you have a smartphone, internet connection, and the willingness to learn, you are good to go.
However, starting a low-cost business is not restricted to the internet alone or making use of the online network, there are also various businesses on the offline scale that you can start with little capital and experience. We are going to be listing those businesses below for you. Hope you find one you can start with.
Learn how to start a business with small capital here
Here Is A List Of 35 Low Cost Business Ideas You Can Start With Little Capital.
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Content Creation
Social media has created a perfect platform and opportunity for creative professionals like writers and graphics designers to use their talents to create high-quality content for businesses and media outlets. With the growing economy of freelancing, you could market yourself as a professional service provider in this field and little or no capital is needed for a start.
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Affiliate Marketing
This business module is a situation where a person promotes other people’s products and is given a specific commission for every sale made. In affiliate marketing, you don’t need to own a product, your job is to bring customers to the seller, and you are paid every time a customer buys the product either a physical or a digital product.
All you need is a platform to promote the product. It could be a blog, website, or other social media platforms, however, you need to pick a niche and a specific product or service in the niche you would like to promote. To be successful in this business module, you have to ensure that you attract more visitors to your site and get them to purchase the product or services from your affiliate partners.
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Point Of Sale (Pos) Cash Withdrawal
This is a lucrative business that you can venture in. Most people would prefer the ease and convenience that POS offers for their financial transactions rather than going through the vigorous process required in most banks. To get started, you have to ensure you get a spot in a busy area, get the necessary equipment, and register with a local bank or financial institution issuing the device.
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Cake Making
Cake making is gradually becoming a highly profitable and fast-growing business in Nigeria as it is used in celebrations, events, and even as a dessert or snack. Learning to bake is quite easy as you can make use of different platforms like Google, Youtube e.t.c to gain more experience.
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Sports Viewing Center
Most people in Nigeria, particularly the men, are fans of football and enjoy watching it. Due to the fact that some people can’t subscribe to sports channels on their cable, they have to resort to viewing centers, while others who can have cable channels still prefer to make use of a viewing center because of the fun and interactive atmosphere it brings.
This business runs daily but with most of the activities held on weekends, to start up all you need is a good location, basic equipment like TV sets, cable TV subscriptions, and a standby generator.
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Dry Cleaning Business
This is a popular community business that is fast growing. Most people don’t have the luxury of time to do their own laundry so they resort to using laundry services in their community. This business doesn’t really require much capital to start up just simple laundry items.
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Car Wash
This is a business that moves fast in Nigeria, you can start in a busy area with residential estates and office complexes.
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Popcorn Business
Popcorn is a popular snack consumed among children and adults, the market extends to areas like cinemas, schools, roadside shops, and traffic. The popcorn business is easy to start up, with minimal capital and little expertise required.
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Hibiscus Tea (Zobo Drink) Production
Hibiscus tea or zobo drink has a large market among children and adults and it has a lot of nutrients and health benefits. This business requires very little capital and no extensive skills.
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Bakery for Bread Making
Bread is largely consumed by most people in Nigeria on a daily basis. For you to thrive in this business, you have to ensure that you can develop the right distribution channel.
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Start A Youtube Channel
Starting a Youtube channel is a great way to earn passive income, for you to make waves in this business, you need to identify a niche to focus on and also research what your targeted audience searches for regularly.
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Liquid Soap Production
If you look around you, you will find homemade liquid soaps with no branding, packaged with plastic bottles and sold between N50 and N100, for you to start you may have to go through training and most of this training could be organized by churches, government, non-governmental organization e.t.c. You could create a large market by branding and quality packaging.
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Rental Services
Most times people need things they do not have in their possession, some of the things you can start contracting out include chairs, canopies, and cooking utensils. E.t.c as the business grows, you could add more items as you discover what people like renting.
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Mini Importation
The internet has really redefined trade and commerce, through eCommerce sites you could get items at a very cheap rate, you could get an agent to purchase the items, and send them to you to sell.
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Website Design
Lots of businesses now have an online presence and they make use of online tools such as websites to promote their brands and products, this has increased the demand for web designers. You need to be able to learn how to use common design tools. Luckily, there are millions of training on YouTube, all you need to do is a simple search and you can learn all about Website Design. You could also offer this as a service on freelance sites like Fiverr and Upwork.
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Cloth Designing And Tailoring
Each day new styles evolve and most people would want to fit into the latest fashion trends, this has made this business thrive, getting into this business requires training.
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Okrika Bale Business
This is where you get London used wears at a very cheap price and sell it. They are commonly referred to as second-hand clothes, people buy these as the clothes look pretty new and are sold at a cheaper rate compared to the brand new clothes.
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Small Chops Packing
Small chops are gaining visibility in most events and celebrations, and luckily for you, this business requires minimal start-up capital.
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Virtual Assistant
Virtual assistants are in high demand nowadays and this is one business you can venture into with very minimal capital. You could also offer virtual assistants as a service on freelance sites.
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Social Media Marketing
Social media has become a huge platform for most businesses and organizations to drive their visibility and profitability, some businesses have social media strategy in their organization while others solicit for this service, there is a growing need for people with social media marketing strategy and development skills. Take advantage and learn the skills required.
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Daycare Business
Most mothers are working-class women, and they need the service of other people to look after their kids while they are at work, so opening a daycare is convenient, you could do it in your home.
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Snacks Production
Snacks are in high demand as most people take them for personal consumption, you could sell different variety of snacks in shops, schools e.t.c.
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Egg Supply And Distribution
Eggs other than their dietary needs, are used in making so many products such as cosmetics, soaps, snacks, e.t,c. You could start this business without much capital but ensure you identify a poultry farm that produces good eggs in large quantities.
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Email Marketing
This is one of the most effective ways to reach out to customers in the digital sphere, you do not need a lot of capital to get started, however you need to learn what works in order to make money from email marketing.
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Mobile Phone Repair
With significant training and minimum capital, you can get your phone repair kit, start working as a mobile phone repairer and start earning.
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Sachet (Pure) Water Business
This business requires minimum start-up, and it’s very lucrative as water is a product that can never outrun its demand.
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Recharge Card And Data
Everyone makes use of a mobile phone, as phones are essential, it makes recharge cards and data essential and it’s in high demand.
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Catering Services
Food is one basic essential that man cannot do without, improve your cooking skills and take up orders for major events or make food deliveries to notable places.
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Photography
Professional photographers are in high demand for events, occasions e.t.c. If you want to start this business, you need to get a good quality camera and take some training in photography to ensure you deliver quality results and that you are good to go.
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Blogging
All you need here is a domain name and hosting, choose your blogging platform, and design and launch your blog. Ensure you conduct research to know contents that will attract your targeted audience.
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Graphics Designing
You could learn graphic designs and start it up with either your mobile phone or laptop using software such as Adobe Photoshop, Illustrator, Canva, and Corel Draw.
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Tutorial Business
If you are good at any subject, you could organize tutorials for children, jamb students e.t.c
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Gas Shop
Gas has become a major household item in most homes, and it’s in high demand. You need minimum capital to start up. You need a shop, gas cylinders, and some basic materials such as scale, hose e.t.c.
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Interior Decoration
You could learn how to design residential buildings and commercial businesses according to your client’s preference.
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CONCLUSION
You have to realize that there are quite a number of businesses that require low cost in starting up and these businesses have proven to be very profitable in the long run.
Here are a few points to consider when starting your business.
- Ensure you make your research,
- Know your niche.
- Get the required training and equipment
- Know Your targeted audience.
