Cheapest Businesses To Start In Nigeria. If you are looking for the cheapest businesses to start in Nigeria, you are highly welcome to this post; I will show you 15 highly profitable businesses that are cheap to start.
One major problem facing almost any emerging entrepreneur is capital to execute his business idea. One doesn’t need to have millions of naira before starting a business in Nigeria, as some businesses require little capital to set up.
Many successful Business Entrepreneurs we know today started their businesses with small capital, but now they are millionaires and Billionaires.
The cheapest businesses to start-up in Nigeria, which I will be discussing in this article, refers to businesses you can start with 20k to 100k.
cheapest businesses to start in Nigeria
Here is the list of the cheapest businesses you can start.
1. Popcorn business
Popcorn is one snack that is loved by so many Nigerians, making it a profitable business to start with little capital. You can start a popcorn business with about 30 to 50k.
Requirements for starting a popcorn business include popcorn machines, sugar, corn, milk, nylon, groundnut oil, and salt.
The most lucrative places to sell your popcorn are roadsides, motor parks, markets, cinemas, and special events. One good thing about the popcorn business is that it does not require renting a shop for it.
2. Phone accessories
Selling phone accessories like batteries, memory cards, flash drives, sim cards, earpieces, phone screens, and touch can be lucrative in Nigeria as phone accessories are in huge demand due to the high number of Nigerians using phones.
The phone accessories business requires having a shop where you can sell phone accessories to customers who need them. You can get phone accessories at a cheaper price to sell at the Ikoko market, Alibaba, and the computer village in Lagos and Kaduna.
3. Graphics design
This online business can be started for free; it involves the act of using beautiful designing graphics like logos, flyers, greeting cards, invitation cards, book covers, wedding programs, banners, and posters.
Graphics designers are paid handsomely as their services are required for weddings, companies, burials, political campaigns, and social and religious events. Almost every organization uses one graphic artwork or the other.
Requirements to start graphics design are Phone or laptop with drawing apps like Canva, pixel lab, PicsArt, and software like Corel draw, Microsoft publisher Adobe photoshop and Adobe sketch.
One can learn graphics design on YouTube or take paid graphics design courses. Where to get graphics design jobs to include on Facebook, Twitter, Instagram, Nairaland, Fiverr, Upwork, and PeoplePerHour. If you have a physical shop, your neighbors can patronize you.
4. Laundry Business
This is the business of washing and ironing clothes. Some people are too lazy or busy to watch their clothes, so they need the service of a drycleaning shop to wash and dry their clothes.
Drycleaning shops charge 300 to 700 per cloth depending on the quality of the store and the personality involved.
Requirements for starting a laundry shop are a Washing machine, generator, electric Iron, detergents, soap, and cloth starch. If you don’t have money for a washing machine, you can use your hand manually to wash them.
Read more: how to start laundry business 2022.
5. Shawarma and Barbeque
This business can be started with little capital of 20k and can bring huge profits daily. People like taking shawarma or barbecue while taking drinks or taking themselves out.
People buy snacks like shawarma or Barbeque for their wives, children, colleagues, and girlfriends. The best place to set up your shawarma business should be near fast food, bars, Hotels, Event Centers, and special occasions.
Read more: 14 Business to start with 500k in Nigeria.
6. Reselling of bottled water
According to a popular adage that says, “Water is Life,” water is an essential commodity in life. Selling bottled water is very profitable as people prefer buying bottled water to sachet watch and pipe-borne water.
Buying packs of bottled water and selling it at higher prices can be lucrative. One can make up to 50# profit per bottle which is good because one can sell up to 70 bottles daily, which is not too bad. The best places to sell bottled water are roadside, at the bus terminal, or during traffic travelers.
7. Plantain chips
Plantain chips are one of the best yummy snacks produced in Nigeria as it is loved for their great delicious taste.
There are many plantain chips vendors in Nigeria, but you can make your chips special by packaging your plantain chips and adding your label to them; this will attract retailers to your business.
You can start a plantain chips business with 30,000 nairas. You just need bunches of plantain, a frying Pan, Groundnut oil, and nylons.
Read more: how to plantain chips business 2022.
8. Mini importation
Almost every product in Nigeria is imported from foreign countries; however, this is affecting our economy negatively; we can not deny that mini importation in Nigeria is a very lucrative business to start up in Nigeria with little capital.
You can make 200% profits from mini importation depending on the products imported and your buyers. You can import watches, shoes, jewelry, chairs, TV, radio, bracelets, and other goods you wish to import.
It is possible that you start mini importation with 50,000 to 100,000 naira. How mini importation works: you order products on Foreign e-commerce sites like Alibaba, Alixpress, Amazon, Shopify, and eBay and get your goods delivered to you in Nigeria.
9. Website designing
This is one of the cheapest businesses to start up online as it requires you to have web designing skills as your clients will buy hosting and domains for you.
Web designing requires little or no capital to set up, and you need a phone or preferably a laptop and design websites on platforms like WordPress, Blogger, and Wix.
An average web designer earns 30k to 150k per website depending on the nature of the website they are designing. you can learn web designing skills on YouTube, Coursera, and Udemy.
10. Catfish fingerlings Production
Rearing catfish fingerlings is one very lucrative business; it is buying babies of catfish called fingerlings and training them till they become mature.
Fingerlings bought for 4k can easily be sold for 18k to show how profitable the business is.
It requires fingerlings, water ponds, food, and other things used in rearing fingerlings. You can start it with 50 to 70k.
11. Reselling of Recharge cards
It is one of the easiest businesses to start in Nigeria as it is very easy and simple to start up. It does not require much effort or money.
Buy recharge cards of the four major network providers in Nigeria and resell them. Although this business is simple to start, it has a low-profit margin, so I won’t advise you to use it as a full hustle but as a side hustle to supplement your income.
12. Selling used clothes:
Selling used clothes is a business that has been there’s nothing like a sweet treat to lift your spirits—and there’s no better time to bake than when you’re down in spirit.
Baking combines lots of different ingredients into something delicious and thoughtful that your friends and family will enjoy eating. It doesn’t matter whether you prefer baking cookies or a cake (I do both); making confections is a great way to let out any frustration you may be feeling.
14. Catering Services
Catering is an excellent small business idea that anyone can do with limited financial resources. If you have a good catering business plan in place, you will get a lot of customers who need meals for personal and corporate events.
Although there are fixed costs involved in starting any business, your start-up capital can be as low as ₦50,000, depending on where you live.
Read more: how to start a profitable cleaning business.
When you think of starting a business in Nigeria, Photography may not be one of your first choices.
But here’s why it should be: Everyone has a camera phone and loves taking pictures, so getting clients shouldn’t be an issue. There are various ways to get started with photography.
16. Caring for Pets
Setting up a pet business is a great way to start earning extra income. After all, many people prefer to stay home with their pets than leave them with a sitter.
If you’re interested in starting your own pet business, consider some of these easy and affordable options for grooming and caring for pets.
These are some of Nigeria’s fastest-growing businesses you can start on a shoestring budget, from dog walking to doggy daycare and overnight pet boarding.
17. Digital Marketing
As a small business owner or entrepreneur in Nigeria, you know that digital marketing is crucial for your success. Almost every business needs to be online these days to be successful and grow its market.
However, while it’s easy to get started with digital marketing services like search engine optimization (SEO), pay-per-click (PPC) advertising, social media management, and more—certain things can set you apart from your competition.
Read more: how to become a successful blogger in Nigeria.
18. Jewelry Design
Do you like to make bracelets or necklaces? Start a business doing that. If you can make a fashionable and attractive bracelet, you can make a lot of money.
People will buy your jewelry if it is new and different than what they see in stores. The best part about starting an online jewelry business is that you don’t need much money! All you need is some tools and supplies to work with.
Conclusion of Cheapest businesses to start in Nigeria
These are the 18 Cheapest businesses to start in Nigeria with low capital. You don’t need much capital to start up these businesses listed in this post and make money. If you have any issues or questions, you can ask them in the comment section. Thanks for reading.