Here is a list of 11 businesses you can start with N100,000.
The first thought that comes to people's minds when thinking about new business ideas is capital.
While finance is truly important for any business, you don't need to have millions in your account before starting a business.
These people need to understand that the mindset limits the thought processes and actions of people, and, so, incarcerates them only to their jobs, immediate social circles, and how they accept whatever life throws at them.
Although a large population would give excuses about the high costs of starting and running a successful business, they forget that small wins are the steps needed to drive any business forward.
As the economy of the country bites harder, there is a need to be more financially empowered.
These are 11 businesses you can start with N100,000 naira or less.
1. Food Business
Food is an essential need, so the demand for food is usually high.
Some people do not even have the time to cook homemade meals; hence, they would rather order and stuck up their freezer for the week.
All you need to do is learn the skill and deliver those services to a target audience.
2. Mobile Phone Accessories
This is a great low-cost business idea with a large revenue. Everyone uses a mobile device; hence, you can reach a larger market spectrum.
So many people buy power banks, headphones, batteries, phone pouches, phone chargers, and more regularly. The volume of phone accessories sold daily trumps the volume of mobile phones sold by an extremely wide margin.
This high demand has made it a great business opportunity for people to get into, you can start with as little as 100,000 naira or less. You can start a mobile phone accessory business with a small stand at a public tech hub like the computer village in Lagos, or online, and you are well on your way to raking in millions monthly.
3. Laundry business
As we currently live in a fast-paced world where people have little to no time to themselves, people are investing in laundry services to meet their needs. Hence, if you are good at caring for attire, the laundry business will be perfect for you. The best part is that you can start with little to no capital. You can even start from the comfort of your home.
4. POS Business
The world has gone cashless, which gives any business an edge because all you need to do is get a POS machine from your bank and activate online banking.
If you live in a place where banks aren't much, you can do POS business and make cool cash.
5. Bedsheet Business
This is one of the easiest businesses you can start. Just pay a visit to Lagos Island or Yaba, where they sell bulk materials, pick good designs, and give them to tailors to sew them for you. Take pictures on your smartphone and upload them for advertisements. You can start with less than N100,000 and grow your income.
6. Cleaning Services
Cleaning services have proven to be a very lucrative business that you can start with less than N100,000.
A lot of people find it hard to clean their apartments because they're working from Monday to Friday, and on Saturdays, they have commitments to attend to, which leaves them with Sundays, and all they want to do is rest.
Your equipment won't cost you a lot, and you can clean about 5 apartments during the weekend.
7. Baking
Are you good with making pastries and snacks, e.g., chinchin, puff puff, even without seeing the four walls of a culinary school? Then you are sleeping on a gold mine. You can start from the comfort of your home and sell online, within your surroundings, or at your local church.
8. Gift Box
Gift box businesses, e.g., period care packages, are beginning to be a thing, especially as they require little to no capital to start. The best part is that you can also curate the boxes according to personalized customer needs. Special occasions, e.g., Valentine's Day, and Mother's Day, are seasons to capitalize on.
One important factor to consider before venturing into this business is to do your research properly to avoid selling yourself short.
9. Wig making and revamping
Almost every woman owns at least one wig; hence, starting a wig-making business is a great way to make those coins.
This is a very lucrative business, as women are always looking to wig their hair bundles from time to time. You can also add wig revamping to your services. If you don't have the required skills, you can start by getting the necessary training.
10. Soap making
Because washing is an integral part of life in every household, the soap-making business is very profitable. With less than N100,000, you can get started.
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