15 Lucrative Business In Nigeria You Can Start With 100K
Are you on the lookout for profitable business ideas in Nigeria that you can kickstart with just 100,000 Naira? If that’s what you actually want, then you’ve come to the right place.
The era of relying on just one paycheck is over. With rising living costs and job uncertainties, having multiple income streams is wise. Even millionaires diversify their earnings.
Today, we’ve curated a list of 15 businesses you can start in Nigeria with 100K. These ventures require minimal initial investment but promise significant returns. Whether you aim to supplement your income, pursue a passion, or save for future goals, these businesses could be your gateway to success.
So, if you’ve ever contemplated starting something new but were unsure where to begin, read on. Let’s explore how far 100K can take you!
15 Lucrative Business in Nigeria
In this article, you’ll discover various business ideas, including:
- POS/E-Payment Business
- Wig Making, Revamping, and Styling
- Liquid Soap Making
- Mobile Phone Accessories
- Baking/Catering
- Fruit Selling
- Laundry Business
- Shawarma Selling Business
- Cryptocurrency Trading
- Small-scale Importation Service
- Popcorn Business
- E-commerce Store
- Mobile Phone Repair
- Makeup Artist Business
- Agriculture
1. POS/E-Payment Business
Starting a POS or e-payment business can make you the go-to person for convenient financial transactions in your area. For just 100K, you can get a POS machine from trusted providers like FirstMonie, Kuda, or Opay. Set up your service in a busy location and offer cash withdrawals, fund transfers, and bill payments. Each transaction earns you a commission, adding up to a significant sum daily. Once you cover the initial setup costs, you’re all set to start earning.
2. Wig Making, Revamping, and Styling
The wig industry in Nigeria is thriving due to the high demand for quality hairpieces. With an investment of 20-30K, you can master wig-making, revamping, and styling. Transform ordinary hair bundles into stunning wigs or refresh old ones to look new. This business requires creativity and a modest budget. Partnering with hair vendors can broaden your customer base and guarantee a constant stream of clients.
3. Liquid Soap Making
Liquid soap is a household essential used for various purposes, from washing dishes to cleaning surfaces. With 100K and some creativity, you can tap into this high-demand market. Imagine creating fragrant liquid soaps in your kitchen, packaging them attractively, and watching them sell quickly. Prioritize quality and implement a robust marketing strategy to establish your liquid soap business as a household name.
4. Mobile Phone Accessories
The market for mobile phone accessories is vast, with a constant demand for items like trendy phone cases, fast chargers, and sleek screen protectors. With 100K, you can stock your shelves with these products and either sell online or set up a physical store. The profit potential is significant with the right mix of quality products and effective marketing.
5. Baking/Catering
If you have a passion for baking, you can turn it into a profitable business with just 100K. Create custom cakes for special occasions or cater delicious dishes for events. With the proper ingredients, equipment, and marketing approach, your baking or catering business can swiftly become a local favorite.
6. Fruit Selling
Selling fruits is a straightforward yet profitable business that you can start with 100K. Set up a fruit stand in busy areas or offer door-to-door delivery. By providing fresh, tasty fruits at fair prices and offering excellent customer service, you can build a loyal customer base.
7. Laundry Business
With 100K, you can start a laundry business and help busy families tackle their dirty laundry. Invest in quality detergents and equipment, and offer reliable service to establish your business. Marketing your services effectively will help attract a steady stream of customers.
8. Shawarma Selling Business
Shawarma is a popular street food in Nigeria. You can establish your own shawarma stall with just 100K. Use quality ingredients and develop a unique flavor to attract customers. Effective marketing and excellent customer service will make your shawarma business a local hotspot.
9. Cryptocurrency Trading
Cryptocurrency trading offers exciting financial opportunities. With 100K, you can start trading digital assets. Educate yourself on market trends and develop a solid strategy to maximize profits. Whether you’re an experienced trader or a beginner, cryptocurrency trading can be a lucrative venture.
10. Small-Scale Importation Service
Starting a small-scale importation business with 100K allows you to bring unique products to the Nigerian market. Focus on items like fashion accessories, gadgets, or home decor. Build connections with international suppliers and market your products effectively to establish a thriving business.
11. Popcorn Business
Popcorn is an ageless treat loved by everyone. With 100K, you can start a popcorn business and sell at events, cinemas, and street corners. Invest in a quality popcorn machine and fresh ingredients. Effective marketing will help your popcorn business become a local favorite.
12. E-Commerce Store
The rise of online shopping presents a great opportunity for starting an e-commerce store with 100K. Use platforms like QShop to set up your store and curate a selection of products that appeal to your target audience. Implement a strong marketing strategy and offer excellent customer service to build a successful online business.
13. Mobile Phone Repair
With mobile phones being essential tools, starting a repair business can be highly profitable. With 100K, you can set up a mobile phone repair service and become the go-to expert in your community. Invest in the right tools and gain expertise in fixing common issues like cracked screens and battery problems.
14. Makeup Artist Business
The beauty industry in Nigeria is booming, and with 100K, you can establish yourself as a makeup artist. Provide services for weddings, photo shoots, and special events. With adequate training, quality products, and a smart marketing strategy, your makeup artist business can become highly sought after in your area.
15. Agriculture
Agriculture is an emerging industry in Nigeria, offering lucrative opportunities. Here are some profitable agricultural ventures:
- Poultry Farming: With the right management, starting with 1,000 birds can yield significant profits.
- Cassava Production: Investing in cassava farming can be highly profitable due to its high demand.
- Snail Rearing: This low-capital, high-yield business has a large market potential.
- Rice Farming: Investing in rice farming can be highly profitable given the high consumption rate in Nigeria.
Conclusion
There you have it—15 lucrative business ideas in Nigeria that you can start with 100K or less. If you’ve been hesitant to start your venture due to budget constraints, let these ideas inspire you to take the leap. With determination and a solid strategy, the opportunities are limitless. Here’s to your entrepreneurial journey and the exciting adventures that lie ahead!
ALSO READ: What Business Can I Start With 50k Naira In Nigeria?