What if I tell you that there are many lucrative businesses to start with as little as 100k (one hundred thousand Naira) here in Nigeria? This is true and there are passionate entrepreneurs like you who are already successful with starting capital of even less than ₦100,000.
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The current economic situation in Nigeria is not looking great…
The Nigerian economy is one that does not seem to be doing better; it keeps getting worse. Many graduates are jobless, and even those who have jobs receive a meagre salary, and they are made to work round the clock.
It is no surprise that a lot of people in Nigeria are looking for ways to have a side job, and those who do not have the regular 9-5 are looking for a business to embark on.
20 Lucrative businesses to start with 100k
In this article, I am going to give you business ideas to start with 100k (one thousand Naira) or even less. So, switch fully into your entrepreneurship mood and let’s dive in.
1. Makeup business
If you know how to makeup and you have the essential things you need which include, but is not limited to brushes, makeup kit, you can start a thriving make up business where you will visit the client and give them a makeover. If you do not have money for a studio yet, you can get makeup stuff and a box for less than 100 thousand Naira.
2. Selling of Used Clothes
In Nigeria, this Is known as Okrika business. Sometime last year, I started selling fairly used bags. I would buy for 500 Naira and sell for 1,500 or even 2,000 Naira. I made so much profit from the business. There is a lot of money in the used clothing business, and you can start with less than 100 thousand Naira.
3. Bedsheets Business
If you visit any major market in Lagos for example, you will be amazed by how much bedsheets are sold. You can buy in bulk and start your won bedsheet business whether as a fulltime business or a side hustle. People must make their beds and to do that, they need a bedsheet.
4. Bag Making Business
This is another thriving business. You can pay up to ₦15,000 (fifteen thousand Naira) to learn how to make bags, but if you want to save cost, you can learn how to make bags online by watching videos on YouTube. The material for this is cheap, and the profit is mouth-watering.
5. Dry-cleaning Services
A lot of people in Nigeria, especially professionals, require the services of a dry cleaner as they are too busy to add clean clothes to their list of worries. They outsource that part of their lives to a dry cleaner. The dry-cleaning industry is growing every day, and with 40 thousand Naira, you can buy a washing machine that washes, rinses and spins the clothes. Also, a pressing iron is not up to 10 thousand Naira. The fantastic part about this is the fact that you can start this business in your house.
6. Data and Recharge Card Reselling
The profit in this business is not that great, but if you are consistent, you might consider starting a recharge card business. Everyone in Nigeria needs to recharge their phones at one point or the other, and not everyone uses Internet banking for that.
7. Liquid Soap Business
This is my mum’s side hustle, and it pays. She supplies in large quantities to hotels and restaurants. It is pretty easy to start, the process of making liquid soap is not stressful at all, and it is a lucrative business. Asides the fact that you can use it at home, you will make money off it as people need clean places, clothes and plates. We use my mum’s liquid soap to do the dishes, wash our clothes and clean the floor at home.
8. Phone Charging
It is an open secret that part of the problem we face in Nigeria is electricity. Most Nigerians work with their phones, and the power situation in this country does not encourage that. By investing in a phone charging business, you get to solve a significant problem for a lot of people and make money at the same time. You can get a small generator popularly known as ‘I pass my neighbour’ for less than 30 thousand Naira.
9. Hair Extensions
Miss Wanneka, the hair boss makes a living from selling hair extensions. You can do the same. Buy five luxury hair for 90 thousand Naira and sell for more than that. You will be amazed at how much people are willing to spend on luxury hair extensions.
10. Plantain Chips
Do you know the favourite snack that many people buy when they are stuck in traffic? That is Plantain chips. It is easy to make, and it is cheap. With less than twenty thousand Naira (₦20,000), you are good to go as regards your plantain chips business. You can do it as a side hustle and supply to people to help you sell.
11. Home Tutor
With platforms like Tuteria, you have the opportunity to register and work as a lesson teacher or home tutor during your spare time. You do not even need money to register, just a phone with a good internet connection and money for transportation to your client’s house.
12. Social Media Management
Do you know you can make money by handling pages on social media? It is a lucrative business, and it is not time-consuming. You must have a phone and a good internet connection. You do not need to have up to 100 thousand Naira. However, you can keep like 5 thousand Naira for your data bundle. Most brands will do that for you anyway.
13. Content Creation
Platforms like Upwork and Fiverr have made it easy for people to create contents for money. This content can be in the form of article and blog post writing. If you are wondering if it a business, of course, it is. You need a working laptop and a stable internet connection. It costs money to get these, but with less than 100 thousand Naira, you are good to go.
14. Sell Babies Wear
People will always put to bed, and they will need clothes for their kids. Venturing into the sales of babies wears is a great idea. You do not need to break the bank to do this.
15. Fashion Accessories Business
As an undergraduate, I sold wristwatches. I bought them for 800 Naira and sold them for 1,500 to 2,000 Niara. People purchased these wristwatches. I made more sales during valentine anyway. Sales of fashion accessories is a lucrative business, and the profit is mind-blowing.
I am not talking about the soft drinks we call mineral here in Nigeria, but drinks, I mean healthy ones like Smoothies, Hibiscus flower tear popularly known as Zobo and co. When we make Zobo at home, we do not spend up to 2 thousand Naira. Same with smoothies. Think of how much profit you will make if you invest in a business, like this.
17. Mini Importation
A friend of mine started his business with 30 thousand Naira, and he is living his best life now. You can consider investing in this, but make sure you do your research before you dive in.
18. Bead Making
You do not need up to 30 thousand Naira to start this business. You need the skills, and you are good to go. We use beads for a lot of things. At home, we have flower vases made with beads which my mum made herself. Beads are fashionable, and it is not a bad business to consider.
19. Hair Making
Women love to look good. A lot of women spend a considerable amount of money braiding or fixing her hair. Washing the hair costs a lot of money, let’s skip how expensive it is to maintain your natural hair. What if you have the skills? You can make money from it. If you have a 9-5, you can work in a salon during the weekend. If you are jobless, you might consider using your skills to make money. I braid my hair for 2,000 Naira and above, think about it.
20. Shoe Making
Like bag making, making footwear is a great business to invest your time and resources in. If you are good at what you do, clients will troop in. A friend of mine resigned from his lucrative job in the media to pursue a career in footwear making. He makes so much money form it, no, and he is happy.
I hope I have given you ideas as regards what you can do with 100,000 Naira or even less. Now that you are aware start thinking of the next move to make. this year is still the money year, and you are going to smile to the bank with your businesses.