After raising the capital needed to start a business, one crucial question you cannot skip is: what business can I start with 300K Naira in Nigeria?
Given the multitude of business options out there, identifying the most profitable ones can be challenging.
Don’t worry; this article is designed to guide you. Whether you’re a student, graduate, or not even educated, and regardless of where you live, this post will showcase some of the most profitable businesses you can start with 300K in Nigeria.
This list includes both online and offline business ideas that anyone can start right now. Keep scrolling down and enjoy the post.
Lucrative Businesses to Start with 300K in Nigeria: OFFLINE
Here are the best and most profitable 300K business ideas to start in Nigeria in 2024:
1. POS Business
A POS (Point of Sale) business is a profitable and easy venture you can start with 300K in Nigeria. This business model involves offering POS/e-payment services. It’s straightforward to set up: you just need to apply for and get a POS machine, find a small kiosk or a space, and set up with a chair, table, and umbrella.
This business thrives in busy areas where banks or ATMs are not readily accessible. A well-positioned POS business can make up to N10,000 profit per day.
2. Cooking Gas Business
With cooking gas becoming the primary fuel for many households, starting a cooking gas business is a promising venture. With 300K, you can get a gas tank, scale, dispenser, hosepipe, and other necessary materials.
This business can even be started from home if you have a small space in front of your house. However, it’s crucial to learn about the business to handle the associated risks properly.
3. Food Stuff Business
Selling foodstuff is another profitable and straightforward business anyone can start with 300K in Nigeria. Products like beverages, rice, garri, and noodles sell well, especially in student areas.
With 300K, you can rent a shop, purchase foodstuff from distributors at wholesale prices, and sell them at retail prices for a good profit.
4. Real Estate Business
Although you can’t own a whole property with 300K in Nigeria, you can venture into the real estate market by renting and subletting apartments.
For instance, you can rent two apartments in Lagos for 150K each and sublet them at 200K each, making a total profit of 100K. This model works particularly well in cities like Lagos, Abuja, and Port Harcourt.
5. Sales of Mobile Accessories
Selling mobile accessories like headphones, power banks, chargers, screen guards, and batteries is a lucrative business, especially in busy areas with little competition.
To start, you need a small shop and a connection with wholesalers who sell these accessories cheaply. In Lagos, Computer Village is an excellent place to find such wholesalers.
6. Cosmetics Business
Starting a cosmetics business is highly lucrative, especially for ladies in Nigeria. This business involves selling skincare products such as creams and makeup products like powder and lipstick.
You need a small shop and some knowledge of cosmetics. Purchase products in bulk from suppliers and sell them at retail prices for a profit.
7. Open a Boutique
Boutiques are known for making significant profits from selling clothes, shoes, and accessories. To start this business with 300K, you need a beautiful shop in a busy area.
You can begin by selling first-grade Okrika (used clothes) and repackage them to look new. This approach reduces initial costs while allowing you to build a customer base.
8. Recharge Card Business
Selling recharge cards is a fast-selling business you can start in Nigeria with 300K. Recharge cards are always in demand as everyone needs them to make calls, send SMS, and subscribe to data plans.
With 300K, you can also become a wholesaler. Purchase recharge cards in bulk from suppliers, then resell them at both wholesale and retail prices for a profit.
9. Open a Football Viewing Center
Football viewing centers are popular, especially on weekends. To start, you need a large shop, benches, a wide-screen TV, a generator, and a DSTV subscription that includes football channels.
Promote upcoming matches on a board to attract customers. With a popular viewing center, you can make up to N30,000 weekly.
10. Sales of Hair Extensions
Selling hair extensions is another profitable business you can start with 300K. Importing hair extensions can be particularly lucrative.
To start, connect with other sellers to share importation costs. Once the products arrive, market them through social media and word-of-mouth.
11. Production and Sales of Oven-Dried Fish
If you live in riverside areas or have access to cheap fresh fish, producing and selling oven-dried fish can be very profitable.
To start, you need an oven, fresh fish, and packaging materials. Market your product to friends, family, and local shops.
12. Rental Service
A rental service for canopies, chairs, tables, pots, and coolers can be a lucrative business started with 300K. This business requires minimal physical presence and can be profitable over time.
To start, purchase the rental items and offer your services to event planners at competitive rates.
13. Livestock Production
Livestock production is a great side hustle you can start with 300K. Poultry farming is particularly profitable, but other options include goat rearing, snail farming, pig farming, fish farming, and cattle rearing.
These businesses require relatively little time, making them ideal for those with other commitments.
14. Food Crop Production
Farming is one of the oldest and most profitable ways to make money in Nigeria. With 300K, you can cultivate crops like corn, groundnuts, or cassava on several acres of land.
These crops typically have a high return on investment, and some, like corn and groundnuts, mature in just 90 to 100 days.
15. Livestock Feed Production
Livestock feed production is a trending and profitable business you can start with 300K. With the growing number of people engaged in livestock farming, there is a steady demand for quality feeds.
First, learn how to produce these feeds, then buy the necessary materials and start production. Market your products through local advertising and word-of-mouth.
Online Businesses to Start with 300K in Nigeria
16. Blogging
Blogging is a fantastic online business, especially for students. It involves creating a website where you share valuable information.
You can start a news blog, sharing updates about your school or general news. To monetize, apply for Google AdSense or Ezoic, which will place ads on your blog and pay you for views and clicks.
17. Forex Trading
Forex trading offers the potential for fast and significant returns. This business involves buying and selling currencies to profit from exchange rate fluctuations.
To start, learn trading strategies, sign up with a reliable broker like Exness or ICmarkets, and fund your account. With good strategies, you could double your investment quickly.
18. Mini Importation
Mini importation is an emerging and lucrative online business. This involves ordering items cheaply from China via platforms like AliExpress or Alibaba and selling them in Nigeria for a profit.
For example, you can buy a wristwatch for N3,000 (including shipping) and sell it for N10,000, making a significant profit. Market your products on social media to reach a broader audience.
19. Affiliate Marketing
Affiliate marketing is an easy online business to start, requiring little to no initial investment. It involves promoting products and earning a commission on sales made through your referral link.
Find a good affiliate program, sign up, get your referral link, and promote it online. With effective marketing, you can make a substantial income.
20. Web Design
Web design is a high-income skill that you can leverage to start a business with 300K. This involves creating, designing, and maintaining websites for clients.
Create an online portfolio showcasing your work, then reach out to small businesses that could benefit from having a website. Charge a premium for your services and offer quality work to build a strong reputation.
FAQs about 300K Business Ideas
What business can one start with 300,000 naira in Nigeria? Businesses you can start with 300,000 naira in Nigeria include POS business, cooking gas sales, boutique, hair extension sales, real estate, oven-dried fish production, blogging, affiliate marketing, etc.
What business can someone do with 300,000? With 300,000, you can start a cooking gas business, POS business, real estate ventures, mini importation, and more.
What business can I start with 300K in Lagos? In Lagos, you can start a real estate business, hair extension sales, mini importation, boutique, and cosmetics sales.
What business can I start with 300K in Abuja? In Abuja, profitable businesses include real estate, POS business, hair extension sales, mini importation, boutique, and cosmetics sales.
What business can I start with 300K in Port Harcourt? In Port Harcourt, you can venture into rental services, POS business, hair extension sales, mini importation, real estate, boutique, and cosmetics sales.
Conclusion
With numerous business options available, it can be challenging to choose the best one after raising your capital.
This post aims to guide you towards starting a profitable business with 300K in Nigeria, regardless of your location or background.
Whether you opt for an online or offline venture, the key is to start small, scale gradually, and focus on providing value to your customers.
