Nigeria is a fast-growing nation, but it has many downsides, which include unemployment and economic deficit, so conceptualizing profitable businesses and successfully starting one in Nigeria can offer you an excellent opportunity for a better livelihood. The best way to survive and be truly happy in Nigeria is to get multiple streams of income.
If you are a 9-5 worker, you can get a small business on the side to earn more money; also, if you are unemployed, a student, or a stay-at-home mum, there are profitable businesses you can start with as little as 100k in Nigeria.
Check out the list below for the top businesses that will yield a daily income guarantee and can be done by anybody in Nigeria.
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Drop Shipping
Drop shipping is one of the few businesses that does not need a big start-up capital, so you won’t spend anything close to 100k to be successful here.
In this very profitable business, you only have to locate a reliable vendor in Nigeria or abroad, get pictures of available products from them and market the products using the pictures. When people place orders, they will pay, and then you can buy and deliver the products.
The only thing you will be required to spend money on is marketing to get your customers’ attention. Drop shipping is not only a business but also straightforward to start and requires little capital.
Mobile Food Vendor
Every day people go about their daily activities, some can’t find time to cook, while some do not know how to, but everyone loves to eat good food at the end of the day. Many people patronize various restaurants daily, but you can make things a lot easier for them if you become a mobile food vendor and showcase your business online.
When people place orders, you cook and deliver them to their location. This way, people will feel like they are eating home-cooked meals, and they don’t have to leave their houses to get them. The best part is that you can start this business with as low as 100k.
Laundry Business
When planning to start a business with 100k, you must think of things people cannot do without so you will be sure to earn profits even in economic downtimes.
For example, everyone wears clothes, but not everyone has enough time to maintain them. That’s why they will always patronize laundry services. The care and maintenance you will get from professional laundry services always differ from what you can do independently at home.
So you first need to get proper training on how to do professional laundry and then start your business. The good part is that you don’t need a shop to start; you can sell your services online and do all the physical work at home.
Graphic Design
Graphic design is another high-income business you can start, but it requires skill and creativity, so you must dedicate some time to learning before starting the business.
For a start, 100k will only be enough for online graphic design services, so you can invest in online marketing to get customers and render your services with either a PC or smartphone, whatever works for you.
Data Business
Data is the fuel that runs all online businesses and activities, so if you start selling it, you will make a lot of money and be in demand all year round.
People purchase data from online vendors because it is cheaper, so your job is to buy in bulk directly from the service provider and resell in smaller quantities to your customers. It is better to sell at a cheaper rate than the service provider so as to give your target customers a good reason to buy from you.
Phone Charging Business
If you have never heard of a phone charging shop or business, it might sound funny, but it is not. People do not expect an uninterrupted power supply in Nigeria, and this inadequacy usually causes a lot of stress and frustration. So those that can afford it opt for more reliable means of electricity like solar, generators and more. However, some people who cannot afford it can get the help they need if you open a phone charging business.
With 100k, you can get a small gen and create a space where people can charge their phones for an agreed fee. Also, it is best to start this business in areas with severe power shortages, so you can earn good money by helping people power their phones.
Football Viewing Centre
While reading this, you must know one or two people that can’t miss a football moment for anything in the world, and some people always prefer to watch it in public viewing centres. So a football viewing centre is a very lucrative business in Nigeria.
You can start with low capital, set up a place where people can pay to sit down and watch football and as long as there are football matches across the globe, you will always be in business.
See also: 5 Top Exchange Platforms to Buy and Sell Cryptocurrencies
So here you have it, the seven most profitable businesses you can start and run successfully in Nigeria with 100,000 Naira. However, the best thing to do when starting a business is to get experience; even though you are eager to get out there and start making money, your business may not do well without the proper knowledge.
Hence, once you have decided on the best choice for you, learn how to run the business from a successful entrepreneur before you invest your money in it. Lastly, If this guide has helped you decide how best to invest your money, kindly leave a comment below.
