Starting a business in Nigeria does not necessarily require a massive capital. This is because of the entrepreneurship nature of the country.
Starting a business can be quite demanding and a lot of people think that having a little capital cannot start a business.
Don’t worry! In this write-up, I will show you businesses you can start with just ₦5,000 in spite of the crises in the global economy.
10 Lucrative Businesses You Can Start with Just 5000 Naira in Nigeria
Here are 10 businesses you can start with just ₦5000 in Nigeria:
1. SELLING RECHARGE CARD:
Starting a recharge card business is quite easy. Everyone needs data or airtime for communication from time to time. You can decide to sell cards offline or online.
Selling offline implies that you buy in bulk from the wholesalers while selling online implies that you register with a website that sells airtime at a cheaper rate.
2. AFFILIATE MARKETING:
Affiliate marketing is one of the promising businesses you can start with as little as 2000 naira to 5000 naira.
Affiliate marketing is like getting a reward for recommending products or services to others. If you tell people about a product and they buy it because of your recommendation, you earn a commission from the company that sells the product. It’s a way for companies to pay people for bringing in customers, and it allows individuals to make money by promoting things they like or believe in.
There are many companies that allow you to promote their products and pay you commission for each sale generated via your affiliate link. These include: Convertkit, Jumia, Konga, etc. You can also sign up with SELAR.CO and you will have unlimited access to promote over 5000 products.
3. BEAN CAKE (AKARA) SELLING BUSINESS:
With as little as N5000, you can start your bean cake business. First, you need to learn how to make tasty bean cake. You can reach out to those who make bean cake already to learn how or can check Youtube tutorials to learn how. Next, you need to get a good location where people can patronize you. Then you consider your timing. Most people who sell bean cake do that early in the morning when people need to take breakfast or at night when people are back from work. Put all of these into consideration before starting out.
4. OKIRIKA CLOTHES BUSINESS:
In Nigeria, Okrika is a lucrative business. Most Average Nigerians prefer second hand clothes and shoes to new ones.
With N5000, you can buy second hand clothes and sell them to people in your environment.
5. ZOBO BUSINESS:
Zobo is a natural made juice. Starting a Zobo business can be an exciting venture, especially if you have a passion for the beverage and a good understanding of your target market. Zobo, also known as Hibiscus tea, is a popular and refreshing drink in many parts of the world.
With just N5000, you can start by getting the recipes and making it in small quantities. Over time, as the demand increases, you can make a larger quantity and distribute to shopping malls and other places where more people can purchase your product.
6. CHIN-CHIN AND FRIES BUSINESS:
If you have baking skills or you are willing to learn how to bake, then you can consider starting out with making fries or chin-chin.
You can start by using your kitchen utensils and getting the recipes to make in smaller quantities. Remember, you can start small but you are not permitted to remain small.
7. CLEANING AGENT SERVICES:
Cleaning agent services is a very lucrative business you can start with as little as ₦5000. All you need to do is to get cleaning materials like brooms, rakes, detergent, etc. Move from house to house and find out those that need your services. You can also place ads on local directories to create awareness of what you do.
8. DRINK OR PURE WATER SELLING:
Drinks and pure water are high demand products in the Nigerian market. People always need water or drinks to quench their taste and you can make money selling water and drinks to those struck in traffic. You can consider getting a shop on the road side.
9. DATA SELLING:
The world has become a global village as you can virtually connect through the internet to see whatever is happening in any part of the world. For individuals or businesses to connect online, they need to have data. This makes data business a very lucrative one. All you need to do is to sell data to individuals or businesses. You can consider creating a brand name for your data business. With just ₦5,000, you can set up your dashboard and start up your data business.
10. LIQUID SOAP PRODUCTION:
Starting a liquid soap business in Nigeria does not require much. You just need to get the chemical, mix it accordingly and start selling.
If you don’t know how to make it, you can research online or watch a few tutorials on YouTube to learn how to get this done.
THINGS TO NOTE WHILE GETTING STARTED
Starting out with any of the businesses is powerful but kindly note the following while starting out:
- Research and planning: Do well to do an in-depth research on any of these businesses you want to start. Identify the market demand and understand your target audience and competition.
- Smart Sourcing: Always source for affordable yet quality materials for your business. Negotiate with buyers for bulk discounts to maximize your budget.
- Create an online presence: As the world keeps going digital, it’s important to leverage digital platforms to promote your business. You can start with free tools like Facebook, instagram or WhatsApp to reach potential customers.
- Customer Service: Irrespective of the business you want to start, it’s always important to build customer service. Also encourage customers to leave reviews and testimonials of your services.
Starting a business with just 5000 Naira is possible with the right strategy, commitment, and creativity. Choose a business that aligns with your skills and interests, and follow these practical steps above. Stay focused on your goals, adapt to challenges, and watch your small investment grow into a successful venture.
The best.