What Business Can I Start With 200k Naira In Nigeria?
So, you’ve managed to save up 200,000 Naira and are ready to start your own business, but you’re not sure where to begin. Deciding on the right business can be overwhelming, especially with so many ideas floating around. Fortunately, you’re in the right place.
This guide will help you explore a variety of business opportunities that are profitable and feasible with a 200K investment. Whether you’re a student, a graduate, or just someone looking to dive into entrepreneurship, you’ll find something here that suits your needs.
We’ll cover 20 business lucrative ideas, giving you a comprehensive view of what you can achieve with your capital. Let’s dive in!
Business Ideas To Start With 200k
1. Cooking Gas Business
Why Cooking Gas?
Cooking gas has become a staple in Nigerian households due to its efficiency compared to traditional cooking methods like charcoal and firewood. This shift has made the cooking gas business a lucrative opportunity.
Starting Up:
With 200,000 Naira, you can set up a cooking gas business by investing in a gas tank (cylinder), a scale for measurements, and other essential equipment. You can either set up a small shop or use a space in front of your residence. Find a reliable gas supplier to refill your tanks, and start selling. It’s a business that thrives with minimal overhead and offers good profit margins.
What You’ll Need:
- Gas cylinder and scale
- A small shop or kiosk
- Reliable gas supplier
- Basic marketing materials
2. POS/E-Payment Services
Why POS Services?
POS (Point of Sale) services are increasingly popular in Nigeria, especially in areas with high foot traffic. This business is relatively low-stress and can be highly profitable.
Starting Up:
Invest in a POS machine, which costs less than 100,000 Naira. Find a strategic location with a high volume of people, such as a busy market or near a transportation hub. By offering services like deposits, withdrawals, and bill payments, you can earn a daily profit that can add up quickly.
What You’ll Need:
- POS machine
- Strategic location
- Basic operational knowledge
3. Real Estate Ventures
Why Real Estate?
Real estate is often associated with high investment, but you can start small with 200,000 Naira. This sector offers great opportunities for returns.
Starting Up:
Instead of buying property, use your capital to lease an apartment and rent it out. For example, you could find an apartment in a less expensive area, lease it for 150,000 Naira, and rent it out for a higher amount, thus making a profit.
What You’ll Need:
- Funds for leasing property
- Knowledge of local rental markets
- Good management skills
4. Recharge Card Printing and Sales
Why Recharge Cards?
The demand for recharge cards remains strong in Nigeria. With a 200K investment, you can start a business printing and selling recharge cards.
Starting Up:
Find a large-scale recharge card printing company and apply to become a distributor. Once approved, purchase cards at wholesale prices and sell them at retail prices. You don’t need much space to run this business, and it brings in a steady income.
What You’ll Need:
- Partnership with a printing company
- Sales and distribution strategy
- Basic equipment for retail
5. Mobile Accessories Sales
Why Mobile Accessories?
With the proliferation of mobile devices, there is a constant demand for accessories such as phone cases, chargers, and earphones.
Starting Up:
Set up a small shop or kiosk, and source accessories from wholesalers. You can sell these items at retail prices, giving you the chance to make a good profit. Consider combining this with another business, such as recharge card sales, to maximize profits.
What You’ll Need:
- Shop or kiosk
- Wholesale suppliers
- Display and marketing materials
6. Boutique Business
Why Boutiques?
Selling clothing, especially trendy and fashionable items, can be very profitable. With 200K, you can start a boutique that caters to a wide range of customers.
Starting Up:
Rent a small shop and stock it with affordable clothing items. You don’t need to start with high-end fashion; even high-quality second-hand clothes (Okrika) can be profitable. Ensure your products are well-presented and attractively priced.
What You’ll Need:
- Small retail space
- Clothing stock
- Marketing and display setup
7. Restaurant Business
Why Restaurants?
Restaurants continue to thrive in Nigeria, especially in busy areas where people are looking for convenient meal options.
Starting Up:
Find a suitable location with good visibility and foot traffic. You don’t need a large budget; start with a simple menu of popular dishes. If you’re not a cook, consider hiring a skilled cook. Good marketing and location will help draw customers.
What You’ll Need:
- Location with high traffic
- Cooking facilities
- Menu planning and staff (if needed)
8. Cosmetics Shop
Why Cosmetics?
People always want skincare and beauty products, so starting a cosmetics shop with the right items and good marketing can be very profitable.
Starting Up:
Rent a small shop and source cosmetics from wholesalers. Focus on high-demand items like skincare products, perfumes, and body lotions. Good presentation and customer service will help you attract and retain customers.
What You’ll Need:
- Retail space
- Supplier network
- Display and marketing materials
9. Foodstuff Retailing
Why Foodstuff?
Selling staple foods like rice, beans, and garri is always in demand. This business can be highly profitable, especially in densely populated areas.
Starting Up:
Find a location for your shop and purchase foodstuff in bulk from wholesalers. To make sure you make money, you’ll need to handle your inventory and pricing well. This business works well in busy neighborhoods or student areas.
What You’ll Need:
- Shop or kiosk
- Supplier connections
- Inventory management skills
10. Ice Block Production and Sales
Why Ice Blocks?
In areas with stable electricity, producing ice blocks can be a profitable venture due to high demand, especially during hot weather.
Starting Up:
Invest in a good freezer, water, and electricity. Set up a small production facility, and use banners and flyers to create awareness. Ice blocks are essential for cooling drinks and preserving food, making them a consistent seller.
What You’ll Need:
- Freezer
- Reliable electricity supply
- Marketing materials
11. Oven-Dried Fish Production
Why Oven-Dried Fish?
In riverside areas, producing and selling oven-dried fish can be a profitable business. Preserving fish this way is popular and always in high demand.
Starting Up:
Buy an oven, fresh fish, and packaging materials. Set up your production space, and start marketing your dried fish. This business can yield good returns with a steady customer base.
What You’ll Need:
- Oven
- Fresh fish and packaging materials
- Marketing strategy
12. Football Viewing Center
Why Football Viewing Centers?
Football is immensely popular in Nigeria. Opening a viewing center can make good money, especially during big matches and tournaments.
Starting Up:
Rent a space, set up a large screen TV, and provide seating for your customers. Invest in a generator for power, and promote your viewing center with banners and flyers. This business thrives on sports enthusiasm and can attract a steady stream of customers.
What You’ll Need:
- Large screen TV
- Generator
- Seating arrangement
- Marketing materials
13. Gaming Shop
Why Gaming Shops?
Gaming is a popular pastime, particularly among youth. Setting up a gaming center can be a fun and profitable venture.
Starting Up:
Rent a shop, invest in a TV and gaming consoles like PlayStation or Xbox, and set up a generator for power. Offer a variety of games and create a comfortable environment for gamers. This business can attract a loyal group of regular customers.
What You’ll Need:
- Shop space
- Gaming equipment
- Generator
- Marketing strategy
14. Uber Driver
Why Uber?
If you’re a good driver, becoming an Uber driver can be a lucrative business. It offers flexible working hours and the potential for significant earnings.
Starting Up:
If you don’t already own a car, you can purchase a used one with a 200K deposit and complete the payment in installments. If you already have a car, you can start driving immediately. Driving for Uber is especially lucrative in big cities like Lagos, Abuja, and Port Harcourt.
What You’ll Need:
- Car (or down payment for one)
- Uber account
- Good driving skills
15. Reselling Fairly Used Items
Why Reselling?
Reselling used items can be a profitable venture, as people are always looking for affordable options.
Starting Up:
Buy fairly used items like motorcycles, electronics, and furniture from mechanics or online platforms at a lower price and sell them for more to make a profit. You can list items on platforms like Jiji or Konga, or market them locally.
What You’ll Need:
- Access to used items
- Selling platform or local marketing
- Basic reselling knowledge
16. Cement Business
Why Cement?
Cement is always in demand for construction projects, making it a stable business opportunity.
Starting Up:
Find a cement distributor, rent a small shop, and start selling cement bags at retail prices. With each bag, you can earn a significant profit. Ensure you have good storage to keep the cement dry and in good condition.
What You’ll Need:
- Shop space
- Supplier connection
- Storage facilities
17. Shawarma and Barbecue Business
Why Shawarma and Barbecue?
Fast food like shawarma and barbecue is in high demand, especially in urban areas. If you find the right spot and market it well, this business can make a lot of money.
Starting Up:
Find a busy location, invest in a shawarma and barbecue stand, and source quality ingredients. Good marketing and customer service are crucial to attracting customers. You can start this business with little money and see it grow quickly.
What You’ll Need:
- Shawarma and barbecue stand
- Quality ingredients
- Prime location
- Marketing materials
18. Printing and Photocopying Business
Why Printing and Photocopying?
There is always a demand for printing and photocopying services, especially near schools, offices, and commercial centers.
Starting Up:
Invest in a good quality printer and photocopier. Rent a small shop near a school, office complex, or market. Provide services like printing, photocopying, laminating, and binding. With consistent demand, this business can be quite profitable.
What You’ll Need:
- Printer and photocopier
- Shop space
- Basic supplies (paper, toner)
- Marketing strategy
19. Fresh Fruit Juice Production
Why Fresh Fruit Juice?
With a growing interest in health and wellness, fresh fruit juice production can be a lucrative business. It requires minimal startup capital and has good profit margins.
Starting Up:
Purchase fresh fruits, a juicer, and packaging materials. Set up a small production area either at home or in a rented space. Market your juices at local markets, events, or through online platforms. Ensure you follow hygiene standards and offer a variety of flavors.
What You’ll Need:
- Juicer and packaging materials
- Fresh fruits
- Hygiene supplies
- Marketing strategy
20. Bead Making Business
Why Bead Making?
Bead making is a creative and profitable business, especially if you have a flair for design. Beaded jewelry and accessories are always in demand.
Starting Up:
Invest in quality beads and tools. Start by creating unique designs and selling them to friends, family, and at local markets. You can also leverage social media platforms to showcase and sell your creations. To succeed in this business, you’ll need a creative approach and savvy marketing skills.
What You’ll Need:
- Beads and tools
- Creative designs
- Marketing and sales strategy
With 200,000 Naira, you have numerous opportunities to start a profitable business in Nigeria. Whether you choose an offline or online venture, the key to success lies in thorough research, strategic planning, and consistent effort. Evaluate your interests, skills, and market demand to choose a business that aligns with your strengths. With dedication and hard work, your business can grow and thrive, providing you with financial independence and satisfaction. Good luck on your entrepreneurial journey!