If you’re short on funds, there are few business ideas that would come to mind. That’s because most people would think that most successful businesses are started with enough capital. However, that is not true. You can start and build something successful with as little as N30,000.
Businesses You Can Start with N30,000 in Nigeria
In this list, we have researched and curated the best businesses with a high success rate that can be started with as little as N30,000.
1. Noodles Cooking Business
Though the fast-food business is majorly populated by ladies, you could get into it as a man, especially if you know how to cook tasty delicacies. The noodles cooking business is an easy and relatively cheap fast-food business. You will be patronized by mostly females so you should set up shop in an area with female students. You could also go to any highly populated area if you’re not close to a school.
You can start out with a table, chair, a carton of noodles, a crate of eggs, and other ingredients. You will also need a stove or a cooker. All these will cost less than N30,000 and would be even cheaper if you already have a stove or cooker.
2. Popcorn Business
This is another business that has a very high success rate when done in an area filled with students. Popcorn business also requires a low starting capital and would give you huge returns if run properly. In addition, it is not a tedious business that would require some learning to perfect. Starting out with N30,000, you will have to go into low-scale production.
A small popcorn machine should cost about N10,000 while a bag of corn should be N5,000 or less. You will need a large umbrella (this can wait till you start making a profit), and a table to set up your cooking ware. If you think you need a bigger machine, you could always settle for a fairly used option.
Getting the table, umbrella and corn should come easy, however, to purchase a popcorn machine (if you’re going for a new one), you will have to order it on Jumia or Konga.
3. Mini Importation
Mini importation is a big deal in Nigeria and could make you very successful if you have the right mentor. That said, you might not need a mentor to teach you anything if you’re already into buying goods from websites abroad. Mini importation is all about importing cheap goods from these websites abroad and selling them to make a profit.
You can start with just about anything as long as the product is popular in your area. Many people go into importing clothes as they are easier to sell and do bring in a lot of profit.
Purchasing a mini importation could be the best thing to do, however, you would have to watch out for fakes as there are a lot of people writing these courses without any experience in the business. When you get the right course, then you will get a hint of what it takes to make it in the business and the right products to sell as a beginner.
Once you’ve got your products, you won’t have to rent out a shop immediately. You can use online channels like Facebook, Twitter, and Instagram to advertise your products and start making a profit before moving to a physical location.
4. CD/DVD sales
While streaming services have taken over, Nigerians still love comics and movies that are readily available in cheaper versions. This is why CD/DVDs are still very popular and they do bring huge profit when sold in the right location. You will need to buy the CDs directly from the producers or go to the retailers, however, there will be a little drop in profit.
You could be making just about N50 to N100 as profit from every CD sold which could amount to hundreds of thousands if you stay in areas with a high population. You could make a lot more money if you focus more on season movies rather than regular films. These fetch more money as people would also come back to purchase the next season.
This business might require a bit more than N30,000 to start as you would have to rent and furnish a store to display the CDs. However, you can do it from home and get your family and friends to share information about the business. When you get the needed profit, you can move to a shop where you will see a rise in sales.
5. Plantain Chips
Nigerians enjoy eating plantain chips especially when they are on trips. Today, this snack has been well-packaged to make it look more attractive. Starting a plantain chips business won’t require much as you can prepare the plantain chips right in your kitchen. Marketing the product might be more tedious than the production process.
Getting sales means you would have to move from one location to the other. The fastest-moving areas for plantain chips are on federal highways and student areas. You could also move between stores like hair and barbing saloons to sell to them. Overall, this business might require a lot of physical effort but it won’t cost much to set up financially.
6. Online Freelancing
If you want to be your own boss and work on your own terms, then you’d love to be a freelancer. The term “freelancer” refers to anyone that is self-employed or a contractor working for a company for a short-term basis. There are lots of freelancing jobs available and they are most likely to make you a millionaire.
For example, creating YouTube videos using software is a big moneymaker in the industry. You could charge up to $300 for a single video which is already hundreds of thousands of naira. If you make up to 10 videos each month, you’re already a millionaire.
It won’t be as easy as that when starting out but you should take note of the possibilities. There are lots of things you could do as a freelancer including video editing, animation, web designing, programming, and copywriting.
If you have any digital skill, you could easily make it in the freelancing industry. However, if you don’t have any digital skill, you could learn one. Writing is one of the easiest to learn though it would take more time to perfect. Also, writers do earn less than other freelancers for the same job.
You can do more research on freelancing skills and pick the one you think you could easily perform. Then go to freelancing sites like Fiverr, Upwork, and Freelancer. Register and begin applying for jobs. You will need a laptop and a good internet connection to start out. You can use the N30,000 to get yourself a fairly used laptop and set up your workstation or you could make use of your mobile phone until you start cashing out.
Some businesses listed here would require more capital than just N30,000 but the good news is that you can start with that amount and expand your business and services when you make more profit.
If you’re great at internet services, you will make more profit quickly. These jobs require more skill and less capital though you will need to do a lot of research to learn more about the market.