Profitable Businesses in Nigeria You Can Start with N50,000 or Less
1. Plantain Chips Making
Move around the street and you will see different brands of Plantain chips on sale and it sells very fast. People like chewing stuffs like plantain chips and there is no end to it, so if you can engage in the business of producing and supplying it to retailers and hawkers, you will be making good money on daily basis.
All what you needed are: Big Frying Pan (N3,000) Small Sealing Machine (N15,000) The Nylons and Labels (N2,000) Other Utensils (N5,000) The rest N30,000 goes into buying of Plantains and logistics. Supply to the shops and to hawkers and make regular money on regular basis
2. Tokunbo Shoes
I like quality leather materials and that’s why until recently all my shoes and bags are bought from the Tokunbo shoes and bag sellers. I used to get some top-class shoes for about N3,000 by the roadsides back in those days when I can’t really afford high quality designer shoes that cost N50,000 or more.
There are many people out there who are just like me. Instead of patronizing those fake China shoes and bags, they prefer to buy high quality used ones which last longer and confer you with more respect.
Get a nice place where you can be displaying your goods such as in front of shopping malls. Go to any used products market (Katangowa or Aswani in Lagos) you may go to Seme Border or Kotonou. Select quality used shoes, look for designs that are close to the latest fashion. N40,000 can get you up to 40 pairs of shoes. Sometimes you make profit of up to N3,000 from a single sell
3. Used Books
You usually see them by the roadsides and you’re wondering if the sellers are making money from those books on display? Try it and see! You will be surprised at the profit margin, and you will be amazed at the rate at which Nigerians buy different kinds of books.
Follow the same process as with the used shoes but you buy at different markets. Used books are sold mainly in importers warehouses, locate one and go there to select nice used books, Children books, Professional books, Hand craft books, etc. These types of books sell very fast with high profit margin. N50,000 is more than enough for a starter.
4. Office Supply
People who works in the offices finds it difficult to go out to the market to buy certain things like Wrist Watches, Shirts, Ties, and Perfumes. Help them do the shopping and charge moderately, don’t be greedy like other suppliers who buys fake things for N1,000 and wants to sell for N10,000 in the name of office supply. Some of them even use to lie that they bought the products from oversea (while they bought it from Idumota) just to sell it at unacceptable price
If you are honest with your business and charge reasonably, you may even get huge supply contract form some of the people you will meet in the offices. N50,000 will do good in this type of small business in Nigeria and you are going to be glad at the brisk business you will be making.
5. Road Side Foods Vending
If you are the hard-working type, this small business in Nigeria may be for you. I’ve seen people buy cars and build houses from this business. It’s one of the few businesses that guarantees steady flow of income no matter the weather and no matter the economic situation.
Specialize in cooking Jollof Rice and Beans, Moi moi, Fried Plantain, Custards, and Fried Eggs. You will become the best friend of the people and the people will be your friend! Look for a hot spot, like the bus stop, near Motor and Okada parks or busy shopping malls.
Thirty Thousand Naira (N30,000) will get you all the utensils and small tables and chairs. While N20,000 goes for food items and settlement.