Starting a business often seems daunting, especially when considering the capital required. However, not all businesses need millions or even hundreds of thousands of naira to get off the ground.
In this article, we highlight seven profitable businesses you can start with just 20,000 naira in Nigeria.
1. Shawarma/Barbecue Business
Shawarma and barbecue are popular food choices in Nigeria, often enjoyed with drinks at beer parlors or bought for families. Setting up a shawarma or barbecue stand in front of a beer parlor or club can be very lucrative. You need to learn the necessary skills and acquire some basic equipment. With as little as 20,000 naira, you can start this business.
2. Fish Farming
Fish farming is a profitable venture that doesn’t require much capital or time. You can start with a small plastic pond of about 100 liters and focus on selling fingerlings (baby fishes). The fish market is always in demand, and with an initial investment of 10,000 naira, you can potentially earn up to 50,000 naira in your first production cycle.
3. Sales of Poultry Products
The sales of poultry products, such as chicks, chickens, and eggs, is a lucrative business due to the high market demand. With an initial investment of 20,000 naira, you can become a supplier to restaurants, schools, and other organizations. If interested in producing your own poultry products, you can research more on how to start a poultry business in Nigeria.
4. Car Wash
Car wash services are always in demand. Many filling stations and car markets look for individuals to run their car wash services, often providing space and equipment. The arrangement usually involves remitting a certain percentage of the earnings. This business can be started with minimal capital and an agreement with a filling station or car market.
5. Dry Cleaning Services
Dry cleaning is a profitable business that can be started with little capital. You can begin right from your home, offering laundry and ironing services. If you don’t have the money for a washing machine, you can start by washing clothes by hand and using an iron. This business has a high demand, making it a lucrative option.
6. House Agent
Becoming a house agent is a profitable business due to the constant movement of tenants. People frequently change apartments for various reasons, providing a steady market for house agents. All you need to start are a mobile phone, an ID card, and less than 10,000 naira to network with landlords. This business requires minimal capital and can be highly rewarding.
7. Plantain Chips Business
Plantain chips are a popular snack in Nigeria, consumed daily by many. Starting a plantain chips business involves frying the chips, packaging them attractively, and labeling them. Retailers will frequently buy from you to resell if you do it right. With good frying skills and an initial investment of 10,000 naira, you can start this business and meet the high demand for this snack.
Starting a business in Nigeria with a small capital is achievable with the right approach and a focus on in-demand services. By exploring these seven business ideas, you can find a venture that suits your skills and interests, allowing you to become a successful entrepreneur with minimal initial investment.
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