Capital in the range of 200k, 300k and 500k is enough to start a successful business. However, as we all know, business success does not depend on how much capital one has but on the business idea, timing, execution, and other factors.
The present economy of Nigeria is not one that encourages its citizens to have one source of income. With a minimum wage that is not more than $50 and a high level of unemployment, a lot of Nigerians are looking for ways to earn more money, and those who do not have a job are looking for businesses they can do to fetch them money.
We have previously compiled an article on businesses you can invest in with less than 200 thousand Naira. In today’s article, we’ll give you some ideas of profitable businesses you can invest in with 200 thousand Naira, 300 thousand Naira and 500 thousand Naira. This is great especially for those who have the money but have no idea as regards what business they should invest in.
Businesses You Can Start With ₦200k
Here are lucrative business ideas for someone who has 200k or less as capital.
Corporate Cleaning Business
This is a business idea that I love so much and I am thinking of embarking on. Offices need to be clean; homes need to be cleaned too. With less than 200 thousand Naira, you can buy significant cleaning equipment and start with just 2 or 3 people. Tell everyone who cares to know and even those who do not care to know about your business. You can clean homes and offices for a small fee. Trust me, people need clean places, and they need people to make the place they stay fresh. That could be you.
In our previous article, we talked briefly about this, but as regards fairly used clothes. You can get new clothes, the ones they call Turkey and resell them at a higher price. Some people do not wear fairly used clothes; they love to wear expensive clothes. With 200 thousand Naira, you can start the sales of clothes. Social media can be an excellent tool to market your brand until you decide if you want a store or not.
Luxury Hair Extension
A lot of entrepreneurs are making a living as regards this the sale of luxury hair extensions. Miz Wanneka is one of them. She is built a million-naira business from the sale of luxury hair extensions. That could be you, but you have not taken the bold step to invest in it. Women spend thousands of naira on hair extensions. You should add it to your list.
Mini Computer Business Centre
A lot of people have access to the internet now, but that doesn’t change the fact that having a mini-computer business centre is a lucrative business. People need to print stuff, photocopy and even do things on the internet. A lot of people do not have a printer in their homes or even a photocopier. If you create this business in a school environment, be sure to make it big.
It will surprise you to know that most corporate workers are too busy to think about dirty and rumpled clothes. So, they let dry cleaners do their job. You can start this business with less than 200 thousand Naira, but if you want to get a standard dry-cleaning business, 200 thousand Naira can do the magic to make your business fancy and appealing. Do not forget that a lot of corporate workers who can afford drycleaners prefer fancy ones.
Businesses You Can Start With ₦300k
For the range of businesses that ₦300k can get you up and running, here are some ideas worth considering.
Match Viewing Centre
We have televisions in our homes, but the joy that comes with watching football in a viewing centre is priceless. Apart from meeting with people from different works of life, tribes and religion, the viewing centre experience gives football lovers the chance to have fun. Setting up a viewing centre with a minibar and grilling stand is something you should take seriously.
Exercise Book Production
We all need to write, right? Even though I have notes on my phone, iPad and laptop when I put down my thoughts and plans, I still have an exercise book and jotter where I put things down. The use of exercise books cannot fade away. Pupils and students still need it. If you have 300 thousand Naira, you might start thinking of investing in exercise books production.
Corporate Gift Items
You can start the sale of corporate gifts items where you sell corporate gift items. Another business idea that is closely related to this is suggesting gift items for individuals. For instance, if an individual doesn’t know what to get his or her partner, you can give them a suggestion and make sure you are ready to provide it.
It is easier for a camel to pass through the eye of a needle than to get natural honey these days. For starters, you can invest in the sale of original and undiluted honey. A lot of people are using less sugar and more natural stuff like honey. If you assure them of the undiluted one and you provide it, you have gotten yourself a lifelong business.
I hate reading the soft copy of books because I have a kind of book shelve at home where I keep my collection of books that I am so proud of. Imagine you invest in a book shop and start selling books for people like me who are still stuck on to the old ways of reading a hardcopy? You can also invest in books for kids, academic books and all. You can start a social media page where you can do a book of the week thing too, amazing!
Businesses You Can Start With ₦500k
And then if you have 500k to invest in a new business, here are some lucrative business ideas for you to consider.
Have you ever thought of party rentals? Nigeria is a country where even though things are hard, it never affects the parties we throw. There will always be parties. Dedications, burials, naming ceremony, everything except our economy calls for a celebration. If you invest in rental services like cooking utensils, chairs, canopies and even something as basic as supplying ice block, you could be significant. You do not need to have all. You can start small and make sure people know about you. Be shameless in promoting your business.
With 300 thousand Naira, you can get a tricycle popularly known as Keke Napep in Nigeria. With it, you can make as much as 2000 Naira daily or even more if you put your mind to it. If you do not want to be found riding one, you can outsource it to someone you trust, and the person can return proceeds of the day to you.
Just like dry cleaning, most corporate people do not have the time to wash their cars. I work from home, but cleaning the car at home is something I cannot remember doing. Getting a car wash to help busy people or people who do not like to do the job done is a lucrative business. Do not forget to get a sound system that will make your prospective client have a swell time when visiting.
Importation Of Fairly Used Products
For this, we do not mean importing and selling in Ikotun market. We mean importing in bulk and selling to traders will eventually sell to people who want to look chic but do not have the money to break the bank. When you hear people talk about their containers, this is what we mean. It is a fantastic business.
You can start with less than 400 thousand Naira, but think of having a massive catering service, think of being the one-stop place for all catering needs. With 400 thousand Naira, you can start a luxury catering service that will give you a massive turnover.
More business ideas? See over 100 small businesses in Nigeria that generate good profit!
We hope we have been helpful as regards what to do with your money. We wish you good luck as you decide on what to invest in. Cheers!