Getting employed is not an easy task and when all things fail, you might have to go into one business or the other to make ends meet. However, starting a business is no small feat and you would require capital if you plan to be successful. Fortunately, this is not true for all businesses.
Businesses You Can Start with 10k in Nigeria
Today, there are businesses you can start straight off your mobile phone, laptop, home, or with a capital of just N10,000. In this article, we are going to reveal the best businesses that you can start with N10,000.
1. Social Media Marketing
If you’re good at drawing people’s attention on social media whether via your posts, videos, or content, you could make for a great social media marketer. This can be done on social media platforms like Facebook, Instagram, or Twitter. You could find jobs for social media marketers by searching on Google or LinkedIn.
The job of a social media marketer or the duties you would be required to fulfill when hired is to attract customers to brands. Not just any customer, but targeted customers that would be interested in buying from the brand.
Dropshipping is an online business that is quite similar to opening an online shop, the difference is that you won’t have to purchase any product or pay for any online shop. With Dropshipping, you can set up an online shop listing several products and when a client pays for the product, you would purchase it from a third-party supplier and have it shipped to the customer. Since you won’t be paying for any product in this business, N10,000 is enough to get you started.
3. Mini Importation
This is one of the oldest businesses in the book and one of the very few that is likely to make you rich on a small budget. Mini Importation is simply buying and reselling. You purchase a product from abroad (Asia or Europe) at wholesale cost which is much cheaper and sell it in your area at retail prices to gain profit.
To be successful in this business venture, you should only focus on products that are in high demand in your area as you would have to sell them physically. To get started, you can purchase cheap but quality products from sites like Alibaba and 1688 and have them imported. Before the products arrive, you should set up an advert campaign so you can begin selling and making profit once they arrive.
4. Agriculture Business
One of the best ways to make money on a tight budget is to become a farmer. You won’t have to buy any piece of land for this and even if you don’t have access to good land, you could always return back to the rural areas and begin farming.
You can start with vegetables like waterleaf or go for other crops that cost less but grow fast and would require little attention. As you grow in your business, you can expand to large-scale farming and make more money.
Blogging is one of the oldest ways to make money off the internet and it is one of the best ways to become a millionaire on a small budget. Blogging doesn’t require much physical effort but you’d have to be a genius to make things work with blogging. This is because there are so many bloggers today which has made the business quite saturated and difficult for new bloggers to make a lot of money.
With N10,000, you can get your blog started. You could go for free hosting or pay to get it hosted. You would need to buy a domain name that won’t cost much. Also, you have to design the blog yourself or get a professional to do that.
Once you’re all set up, it is time to begin posting content that people would love to read and gain readers. You can promote your blog on social media platforms or place adverts to draw attention to your blog.
Once you start getting readers, you can monetize your blog by signing up for Google Adsense and advert companies. You will also get sponsored content from brands that would like to partner with you.
Blogging doesn’t require a lot once you set up your domain and hosting, however, you would have to put in the effort if you wish to make a lot of money as a blogger. The likes of Linda Ikeji and Bella Naija are huge inspirations as they make millions monthly from blogging.
6. Laundry Services
Laundry service is not considered a lucrative business but rather one that would help you get to the top. This is mostly true, however, the laundry business is growing very quickly in Nigeria and you can cash in on the opportunity.
You could start laundry business with just your pressing iron and some detergent and as long as you can deliver an impeccable service, you will get lots of clients that will patronize you. You can start by informing your neighbours and friends so they can bring clients to you. As you can grow, you can open up a shop and hire more hands to boost the business.
7. Cryptocurrency Trading
Cryptocurrency is more like an investment that has the potential to make you rich, however, it is not a get-rich-quick scheme and you’re less likely to make a profit in a matter of months. If you’re great at it, you could cash out and build your portfolio really quickly, however, it might not be the business for someone that is looking for some quick cash.
If you searching for a business idea that will keep bringing money for years to come, then cryptocurrency trading might be the answer you are looking for. There are tons of stories on people that became wealthy after trading cryptocurrencies like Bitcoin, Ethereum, and the likes.
8. Phone Repair Business
You would have to learn from someone before you can start this business but the good news is that you won’t have to pay to learn especially if you know someone that’s already in the business. The N10,000 capital can be used in purchasing tools like soldering iron and other things you would need when starting out.
You could get a table and set up shop in a popular area for free especially if you know someone within the area. With just N10,000 you could start a phone repair business and grow to the point that you’re able to afford a shop.
9. Recharge Card Business
Selling recharge cards is one of the easiest businesses to start on a small budget. You can easily make profit though it would be minimal if you’re selling at a busy terminal point, your turnover would be huge by the end of the month. The recharge card business is all about being in the right location. You could easily sell N10,000 worth of recharge cards in a day and count your profit.
To get started, you would have to get connected to a vendor. You can use popular networks like MTN and GLO before moving to all other networks. You won’t have to set up a location immediately but can start doing it straight from home, or you can use part of the N10,000 to purchase a large umbrella and a chair so you can stay at the target location.