Business I Can Start With 100k – 17 Popular Local Businesses to Start with $100k in Nigeria 13 Profitable Local Businesses to Start with $100k in Nigeria
Are you in Nigeria? Wondering what business to start with 100k in Nigeria? In this post, I’ve outlined 13 local business ideas that you can start with $100K or less and still make money this year.
Business I Can Start With 100k
There are many reasons to start a business with a budget of 100k in Nigeria. The most prominent reason is that there are many low income people in Nigeria. Many Nigerians survive on 10k monthly salary by doing cleaning jobs in some companies, vendors, janitors etc. This means that the daily budget of this low income group is about N350 per day.
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This is really bad but very sad for most Nigerians. It is a miracle to live on such money and still have the opportunity to save something. People living in this salary range will soon realize that they need another way of income and many want to see if there is a business they can start with only 50,000 to 100,000 naira… sometimes 10k.
Some of the companies listed in this article can be started with less than 100,000 Naira.
Moi-Moi is one of the healthiest snacks you can eat. It is a food that is often eaten as a snack. For some of us healthy eaters who want to avoid junk food like gala and biscuits, Moi-Moi is a healthy alternative.
You can make Moi-Moi and give it to street vendors. Thus, there is no need to sell it yourself. It’s a good business because most people love Moi-Moi and no matter what you do, you’ll always want to eat it.
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Starting this business is also cost effective, you only need to buy about 3 seeds to start and the spices needed to make it. It will even cost you less than 100k to start.
Organic products have recently become a hot topic. To be skin friendly, everyone wants to use organic products. It’s easy to start a skin care company because most of the ingredients are natural, such as oils, fruits, and seeds. Because there are so many of them, they are also very affordable. Containers are also needed to package your products. Containers are also very affordable and easily available in the market.
Oil palm business is now a very profitable business in Nigeria. To start this business, you just need to find a local palm oil mill and buy gallons of processed palm oil. Buying palm oil by the gallon will get you cheaper and wholesale prices. You can then pack them into small cans of water and sell them in town for a higher price.
People still prefer to hire a laundromat, especially if the clothes are expensive or thick, like jeans. Many people prefer a laundromat to wash heavy and bulky items such as blankets, sheets and towels. They believe that only laundries are qualified to wash such clothes. People will also put all their clothes in the laundromat if they don’t have time or don’t like to do laundry.
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Washing machine, dryer, hangers and good plastic bags for packing clothes, detergent, etc. This is what it takes to start a laundry service business. You can buy a brand new washing machine on Jumia for between N30,000 and N50,000.
This business can be started without leaving home. You just have to tell your friends. By attracting customers and growing your business, you can open a store in a great location.
Nigeria does not have uninterrupted power supply and many people cannot afford generators. Many people go to charging stations to charge their phones when the battery is dead.
It is important to locate your business where everyone has access to alternative energy sources such as solar panels or generator sets.
Things To Focus On
This business requires a generator, a large switchboard with many electrical outlets, and a small store or container.
Nigerians often wear second hand clothes and it is a big business. This is because new clothes cost more and many Nigerians cannot afford them.
You can see the difference between brand new jeans costing €5,000-8,000 and used jeans costing €800-1,500. This is explained by the fact that many people choose a used one. , although some of the clothes are still in the “first quality” category.
You just need to find someone who is already working and ask to join them. Be careful not to be deceived. Do not rush to give money to anyone. You will be able to track down the people who formed the union if you can find them.
Businesses You Can Start With 100,000naira
Jewelry business is very popular and profitable. Many pieces of jewelry can be bought from wholesalers, but they look good enough to easily sell for double the price. All you need is an aesthetic eye.
I suggest starting with the cheapest and best jewelry and accessories and then moving up to more expensive items like gold if you want.
Hairdressing can be a very lucrative profession as women are always looking for the best place to get their hair done.
It is possible to rent a shop for as little as N40,000. Or you can find a stylist to combine. A shop with five stylists working together can be quite expensive. This often happens in expensive rental locations.
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Phone accessories business is an area that you can start according to your budget. You don’t need to buy all kinds of phone accessories to start this business because you may need more capital. However, you can focus on just one phone accessory, such as a phone case.
You can buy beautiful phone cases from popular Nigerian phone brands and sell them to everyone. To buy phone accessories, you can go to Computer Village in Lagos or order online from Alibaba or Aliexpress.
Poultry farming has always been a profitable business in Nigeria because of the demand for white meat. Less than VND 100,000 can buy about 30 broilers, 2 bags of food and some medicine. However, make sure you have space for your birds and maybe some shelter to keep them safe and warm.
Nuts are a popular food in Nigeria and a food you can easily start growing in Nigeria. All you need is to buy beans in bags and then sell them individually. Alternatively, you can buy and store beans when the price is cheaper and then resell them when the price rises. However, make sure you know how to store beans to prevent them from spoiling.
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Women love to fix their nails and if you can learn how to fix false nails, you can make money with this skill. The good thing is that you don’t need a lot of equipment to get started. You don’t necessarily need a store either. You can stay in the salon or find a free seat where you can sit with your client.
Fishing is one of the best businesses to start with $100K in Nigeria. This is because it is very cost effective and easier to manage than poultry farming. This is because while one bag of chicken feed can last 2 months for about 30 birds, one bag of fish feed can last more than 5 months for 30 birds. This is explained by the fact that fish do not eat as much as birds.
All you need to start this business is a large bowl that you can fill with water. Also, make sure you feed your fish on time because when they’re hungry, the bigger ones can eat the smaller ones, meaning you’ll lose the big ones. So make sure you are well educated before starting this business.
Here are 13 companies starting at 100k in Nigeria. Leave a comment with any other suggestions you may have and we can include them in this post.
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Chinenye Madumere is a digital marketer and business enthusiast who enjoys watching businesses grow. He started sharing business ideas and development strategies with Nigerians.
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I’ll show you how to make $2,000 in 60 days using your smartphone…even if you’re a student, worker, or unemployed. 15 Best Businesses to Start with $100,000 in Nigeria in 2023: Running a business can take a lot, especially in today’s environment. Many things can be a problem, including startup capital, niche, and customer base. However, the defining moment in any business is the moment when the right idea comes to mind. Many businesses start with enough money and the best location, but because it’s not the best idea, they fail for some reason. Another thing we have learned is that the main factor that causes businesses to fail is not them
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