A business is what an entrepreneur ventures into in order to make profit. Anyone can become an entrepreneur with the skill to manage a business and achieve its aim of profit making.
In Nigeria nowadays, they say that even the most educated professor who ventures into the line of teaching should have a business idea because no one knows what tomorrow has to offer.
Some people have taken the word for they were wise and now, they manage so much businesses while they recline to enjoy enormous profits. Apart from the computer and networking related persons, the other members of the richest people in the world are numerous business owners.
As you are reading this post it means you are looking for a lucrative businesses to start in Nigeria with small capital as low as ₦100K.
In fact, any other means of getting money which is legit has one or two things to do with business. A lot of people in Nigeria had the opportunity to have up to a hundred thousand naira at some particular points of their lives and wanted to start businesses. This failed for them because they felt that a ₦100K would not be able to do something tangible in terms of what a profitable business should be.
The truth is that Rome was never built in a day. Whoever has the idea of business has not committed a sin to want to make a lot of profit, but then, there must be an idealization that profits won’t just start flowing in like running rivers. It is a gradual process.
You may think that ₦100K is too small to start a business in Nigeria in 2022 but my friend, do you have a hundred thousand naira that you have struggled so much to save and you wish to start a business in 2022 but don’t know which to venture into? Then this is for you;
Top 20 Lucrative Businesses To Start With ₦100K In Nigeria 2022
Here are top 20 lucrative businesses to start with ₦100K in Nigeria 2022
1. Barbing Salon
The hair is one that can’t stop growing on the body. Especially amongst the men folks, there is always a need to shave off the excess hair.
This need is one that must be gratified and no matter how much barbers exist in the world, there must always be someone waiting on a queue somewhere to get his haircut. One can get one or two clippers with a little rented shop.
The cabinet, mirror and little things like hairbrush, powder and after shave ointments are what is left. A hundred thousand can tactically put these in place for someone who knows how to barb or one can hire a school leaver who is good in barbing. With time, the place develops. Barbing is very profitable.
2. Charging Business
We all know that Nigeria is a place with rickety power supply. Also, acquiring electrical generator is not an easy thing for most people.
Unfortunately or fortunately, it is equally a place where people cannot do without having power on their mobile devices because they revolve around the lives of the majority. This simple fact makes it a must that everyone keeps their mobile devices at power.
A little kiosk, even if made from wood, with a little generator and electrical appliances such as chargers, extension boxes, sockets and fittings to transmit the electrical generator’s current will be all that is needed and there is certainty that after all these, there will be leftover money to put other things in place.
So, with all these in place, people will continue coming to charge their phones, laptops and other battery operated electrical devices on regular basis for some fees.
3. Food Vendor
It will interest you to know that, all you need to do is get some pots, a mini gas cooker (even if it is just a pair of 3kG gas cylinders) and the food stuffs.
Contract a carpenter to make one or two pairs of benches and a little kiosk that is well surrounded with nets to prevent flies where the food will be placed. You may also choose to go for an aluminum show glass.
Then, get few cutleries to serve the customers and food stuff! That’s it! Although, it takes a person who knows how to cook to carry out this business but it is not difficult.
In Nigeria, people (especially unmarried ones) do not have time to go to the market to buy food for cooking. Some have to be at work so early and others do not even know how to cook. They have to buy prepared food for eating every time.
Food selling is very lucrative especially when one adds a little style, uniqueness and absolute hygiene to it. It won’t demand more than ₦100, 000 naira.
4. Confectionary Services
I want to bring to your knowledge that most people need snacks to keep their mouths busy every now and then. People take snacks to the offices and some must have some snacks after every meal.
Some also keep snacks such as peanuts, pancakes, puff-puffs, burns, popcorns, samosas, meat pies, fish rolls as a must because they are good substitutes when meals are skipped.
People also pay huge amounts for birthday cakes, weddings, graduations, introductions and other ceremonies. One just needs to have confectionery skills and that will be done because the items needed are not costly at all.
A medium sized microwave can bake cakes nicely nowadays and there are specific ovens for just little amount of money. With a ₦100K, all necessary things for confectioneries can be acquired and huge profits can be made.
5. Poultry Business
Although, poultry may seems a kind of messy and strenuous but when the raised fowls are of age, one can really reap a huge amount.
Day old chicks can be acquired for a ₦100 (Naira) at most and this means that one can acquire 100 for a start with constructed litter boxes, six to 10 bulbs as source of heat, foods and poultry supplements with the cans and beakers for the poultry feeds.
For this business idea, it is better to raise broilers that one can sell when they are of age. Do you know that a lot of people eat chicken every day?
On the other hand, chickens are needed by a lot of places and people and targeted towards festive periods, poultry is highly profitable.
6. Business Centre
It will interest you to know that, you need to rent a little space or shop where services such as photocopying, typing, lamination, printing, online registrations and where other computer related services can be rendered.
Little tourist photocopiers/printers can be acquired and two sets of desktop computers. If the money is well managed, this business can be started and it will boom because people need these computer services every day.
7. Gaming Center
In Nigeria today some people especially youths need to relax after the day to day work. The PlayStation consoles and TVs can be acquired at second hand and kept in a shaded verandah. So that people comes in to play and pay for each game.
It is a good business to consider with low-cost. Some people however, mix gaming zone with barbing services, snooker and table tennis at one side.
8. Goat/Sheep Rearing
Now, cattle would have been great but then the total time for a cow to reach maturity will be long. However, with a ₦100K, one can get lambs and ewes at very few days old with little amount of money and begin to rear them.
A male goat or sheep is good to start with so there can be mating for multiplication. The most important thing is to keep them safe.
The food they consume demands a little cost because most times, they could forage for themselves. During the festive season, these animals are sold for high prices and one can tripling the amount of money started with and still have many unsold.
9. Event Planning/Management
Event planning is all about getting contracts from people who want to have occasions. At first one can start with renting items needed for events from those who have them and buy some things you can afford at the beginning.
So, the proceeds from payments of service will enable one to buy all needed items for occasions without needing to rent and start making good money.
10. Data Subscription Retail
A lot of people are into this now and even with less than ₦50, 000 naira, people are making a fortune from this business.
One buys data bulk from the network services and sell in bits to private users. By the time one is done selling a bulk, it really yields profits in thousands.
11. Ok Wears
There are some people who specialize in sending used clothes, shoes, bags and other clothing accessories from abroad to people in Nigeria for very meager amount of money.
The masses don’t go into boutiques to buy clothes anymore. They get wears that Nigerians call okirika or bend-down-select.
These are sold randomly at different prices and before one finishes to sell a chunk, the cost price which you bought it have been regained. It is a good business for those who know how to go about it.
People need to sow clothes every other day. This is very good for someone who knows how to sow. some people don’t know how to cut and sow clothes but are good at adjusting and repairing clothes.
So, it is just a matter of getting a little shop or space and then the manual sowing machine which wouldn’t cost more than ₦40 thousand naira in all.
There will be enough to buy small items like needles, scissors, threads, buttons and other miscellaneous things. A person who sows must make money.
13. Beads Making
Nowadays, people are reverting to beads instead of metal jewelries because they cannot buy real gold and silver, the coated ones fade over a long period of time.
On the other hand, some people have totally replaced their jewelry boxes with beads, others use the beads and metal ornaments together.
Beads making is a fast growing business in Nigeria. It takes a short time to learn and someone who is creative can make a unique necklaces, hand bangles, beaded crowns, anklets, waist bands and so many more with beads that attracts the sundry.
So, with less than ₦50 thousand naira, one can really excel profitably in bead making.
14. Laundry Business
I want to bring to your knowledge that some people don’t have time to cook their foods, also don’t have time to wash their clothes.
They take them to laundries for washing and ironing. So, With a ₦100,000k one can get a good washing machine and iron to begin with.
They say that the money of a feces disposer does not stink. Especially when situated at advanced areas, laundry business can be luxurious and economical.
15. Passport Photograph
Nigerians are good hustlers. When you situate a passport point along an industrialized road where there are companies, banks, schools, and so on, you will make a lot money.
People need passport photographs. In fact, there are specifications of passport photograph requirements nowadays as the requesters dictate the background colour.
So, despite having stocks of passports some people need to take more because they are requested to snap with specific colours of background.
With few thousands, one can get a very quality camera and portable printer. One may not need four walled shop as any place that has shade will do.
Some just get a chair, table and a stand-umbrella. That is it! You’re doing your business.
16. Food Items Retailing
This is very good for highly industrious people. In Sokoto for example, onions are very cheap especially during some seasons but they are very expensive in the western part of Nigeria.
Palm oil too is cheaper in the west but are expensive in the north. If one can understand these differences and make use of the advantage from place to place, a lot of food items combination can be made and business sets off.
It is a matter of going physically to the place once or twice and get allies who will aid one to buy and transport the food items just by calls.
Buying a cheap food item at a place and sell it at a place where it is expensive is good money! One can hardly make a loss.
17. Soap Production
This is also a reigning business. Learning to make soap, both liquid and bar has become relatively easy. Some people don’t even pay for any lessons to learn it.
They just watch YouTube videos to know the right amounts of chemicals to mix and they are doing it good.
Soap is always in high demand because people need to clean and wash one thing or the other. Few thousands can get one the chemicals and sell it at the right price will be profitable.
Can you sell suya? I know people who cannot go in a day without consuming more than one thousand naira worth of Suya!
In fact, barbecue selling is most profitable at nights because this is when people want to get their mouths busy while having a stroll or watching a movie.
Grilled chicken, beef and mutton don’t need a shop. They just need a little space by the road side with the source of heat and grill irons with the meat.
That is the point because this roadside appearance is the real advertisement with the aroma calling a buyer to approach.
The crazy thing about suya is that you don’t plan to buy it most time, the aroma appeals the buyer to spend his money.
All you have to do is be a good griller and you are making thousands every night. You even have the morning time to do a whole lot of other things at your disposal.
19. Fish Farming
I know a man who began his fish pond business with just ₦60, 000 naira in all and now he has uncountable fish ponds where he deals mostly in cat fish.
Learning how to keep the fish and the right way to maintain their water habitat and feeding them is the little extra thing needed.
Fingerlings are sold at very cheap price and in less than 5 months, schools of fishes have filled your pond.
The special thing is that the fishes just needs a watered environment either you have decided to use a broken tank, a large bowl or a constructed reservoir as the pond.
So, it needs perseverance and care though but this business is economical and can be done with less than a ₦100, 000k believe me.
20. Shoe Making
Just as clothes are needed, shoes too are needed as much. No matter how good one’s shoes are, they need to be changed from time to time either from the effect of wear and tear or from the effect of being out of fashion.
People have learnt to make shoes and have become stylish in it. Everyone shoemaker out there is now a designer on his own and can create styles and make them for their own glories.
Getting a little space with little items and leg dummies. Roller machines and leathers, soles and other equipment make the job very fast and easy.
A ₦100, 000k may seem so small considering the current economy of Nigeria, cost of things hiking at tremendous rate but the situation of things can never exceed the rationality of a thoughtful human.
If you have a hundred thousand Naira, you are a potential success only if you can find your own niche and make the best use of it.