If you dream of becoming your own boss or are worried about costs when you want to start your own business, you are not alone. Many people think starting a business requires a huge investment, but that’s only sometimes the case. Starting a business doesn’t always require a hefty capital investment, you can actually kick off your own venture with just N100k or even less and potentially turn it into a thriving enterprise
This article will guide you through some exciting business ideas that are not only affordable to start but also have the potential to bring in good profits. So, if you’re ready to take the first step into the entrepreneurial world without breaking the bank, read on!
Sell cooking gas
The demand for cooking gas has steadily increased in Nigeria due to its convenience and environmental benefits. Starting a cooking gas distribution business can be a lucrative venture. With your N100k budget, you can purchase and install a gas cylinder refilling station in a strategic location.
Start by researching safety regulations, securing a strategic location, purchasing equipment, and building relationships with gas suppliers. Also, invest in safety measures and promote your business through local advertising and online platforms.
Sell phone accessories
The smartphone industry comes with a high demand for phone accessories such as chargers, cases, screen protectors, and earphones. You can start a phone accessory retail business with just N100k by sourcing products from wholesalers or manufacturers. Set up a small kiosk or an online store to reach a broader customer base. Offering unique and high-quality accessories and excellent customer service will help you stand out in this competitive market.
Become a real estate agent
Real estate is a booming industry in Nigeria, and becoming a real estate agent is a viable business option. With N100k you can invest in essential marketing materials, such as business cards, flyers, and a website, to promote your services. Building a network of connections within the real estate industry and focusing on a specific niche, such as residential or commercial properties, can help you find clients and earn commissions on successful deals.
Make and sell soaps
The beauty and personal care industry presents opportunities for entrepreneurs to create and sell handmade soaps, bath bombs, and skincare products. You can start this business from home with your N100k budget by purchasing ingredients and packaging materials in bulk.
Once you have gained enough knowledge, you can experiment with different recipes to create unique products that cater to various skin types and preferences. Building an online presence through social media and e-commerce platforms is really important as it can help you reach a wider audience.
The food industry is a perennially profitable sector, and selling foodstuff can be a lucrative business with a low startup cost. With N100k, you can purchase bulk quantities of popular food items like rice, beans, spices, and cooking oil. Set up a small retail store in your community or consider delivering foodstuff to customers’ doorsteps. Research local food demands, establish supplier relationships, decide on a retail or delivery model, develop a competitive pricing strategy, and build trust through consistent quality and customer service.
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