With the constant increase in the cost of living in Nigeria, having multiple income streams has become a necessity. However, starting a business is not easy and getting startup capital discourages many people from trying. But, what if we told you, that there are several businesses you can start with just N100000?
Whether you plan to start a business as a side hustle or as a full-time job, we have the ideas you need to help you become a successful entrepreneur.
Below are businesses you can start with N100000:
Top 15 Businesses You Can Start With N100000
We have curated a list of businesses you can start with just N100000 with actionable tips on how to get started and succeed at it.
1. POS (Point of Sale) Business
POS business is one of the businesses you can start in Nigeria with a capital as low as N100000. It is highly lucrative and in demand. Access to POS makes banking transactions easier especially for people in rural areas.
- Conduct Market Research: Carry out a market survey to identify your potential customers, competitors and gaps in the market.
- Choose the Right Location: When choosing a location, you should consider some factors such as security, proximity to banks and ATM, and Internet in the area.
- Raise Start-up Capital: To start a POS business, you need to raise start-up capital to cover the initial cost. This can range from N50000 to N150000.
- Register Your Business: To gain credibility and trust amongst your customers, you must register your business. It enables you to open a business account for your business.
- Get a POS Machine: When acquiring a POS machine, you should consider the cost and application process before choosing a provider. You can get a machine from credible providers such as Opay, Moniepoint, Kudi, and Palmpay.
Marketing and Sales Tips:
- Create and display eye-catching banners around the POS area to draw attention to your business.
- Improve your customer service and reward repeat customers with discounts and special offers to encourage loyalty.
- Promote your POS business on social media platforms to reach a wider audience.
2. Hair Dressing Business
The beauty and hairdressing business has grown significantly not only in Nigeria but across the globe. A hairdresser is a specialist in styling, cutting, trimming hair, and installing hair extensions.
You can offer a full range of hairdressing services or specialize in a specific area, such as wig revamping, hair coloring and dyeing, braiding, or wig installations.
This business idea is cost effective and can be started on a small scale.
How to Start:
- Get Formal Training: Formal training is essential to become a hairstylist. You can either attend training institutes or watch YouTube tutorials to gain the necessary skills.
- Create a Work Space: You can either run an at-home hairdressing business, run a mobile hairdressing shop (home service) or hire a chair in an already set up hairdressing salon.
- Get the Right Tools: Invest in affordable equipment and products needed for efficient service delivery.
- Utilize Social Media for Marketing: Market your services to people via social media platforms such as Facebook, Instagram, and Twitter.
- Leverage Word-of-Mouth Marketing: Aside from social media, you can also market physically by sharing fliers to community members, friends, colleagues at work or at social gatherings.
Marketing and Sale Tips:
- Upload high quality videos and pictures of your work on social media platforms to attract clients.
- Use customer testimonials and reviews to grow your business. Actively ask customers for their feedback after service has been rendered.
- Share hair care advice and suggest product recommendations on your website or social media channels through videos, blog posts, and articles.
3. Beverages: Fresh Fruit Juice Production Business
Fruit juice is a drink made from the extraction of the natural liquid contained in fruits and vegetables. It is commonly consumed as a beverage.
This business idea is cost-effective and can be started with a capital as low as N100000.
How to Start:
- Curate your Recipes: Explore the internet and YouTube for refreshing and healthy fruit juice recipes. Feel free to develop and experiment with your own unique recipes, too.
- Sourcing Quality Ingredients: Ensure the creation of top-notch beverages by buying fresh, high-quality fruits and vegetables from your local market.
- Packaging: Package your juices in neat, affordable, and branded containers.
- Promoting your products: Advertise and promote your products using diverse marketing techniques.
Marketing and Sales Tips:
- Increase your visibility on social media by sharing recipes, advice, and the health advantages of fresh fruit juice through various social media platforms, including YouTube, Instagram, and Twitter.
- Build strategic partnerships with shopping marts, malls and other outlets to distribute your products and boost sales.
4. Liquid Soap
Liquid soap is an essential cleaning product in every home. It is a cleaning agent suitable for cleaning dishes, tiles, and cars.
Starting a liquid soap business in Nigeria is cost effective and quite lucrative.
How to Start:
- Get trainings: Learn how to create liquid soap by exploring online tutorials, attending workshops, or participating in training programs.
- Bulk buying Ingredients: Buy ingredients such as preservatives, fragrances, and colorants in bulk to save costs.
- Brand Identity: Create a strong brand identity with a unique name, logo, and packaging design.
For a more comprehensive guide on how to start your liquid soap business, check out our step-by-step e-book.
Marketing and Sales Tips:
- Create a website and social media profiles to showcase your products. Use online marketing channels to reach a wider audience.
- Offer discounts, samples, and limited time promotional deals to attract new customers and boost sales.
- Expand your product line by adding new scents, sizes, or other cleaning products.
5. Perfume and Cosmetics Business
The cosmetics and beauty industry are one of the booming industries in Nigeria. This is one of the businesses you can start with as low as N50000 – N100000.
This can range from selling perfume oils, deodorants, and other beauty products.
How to Start:
- Understand your Target Audience: Identify your target audience and who your potential customers are, including their age, preference, and lifestyle.
- Procure high quality ingredients: Purchase high-quality essential oils and perfumes with sweet fragrances from reputable suppliers.
Marketing and Sales Tips:
- Use digital marketing strategies such as social media marketing, and email marketing to promote your business and drive sales.
- Incorporate various selling techniques, such as upselling and cross-selling, into your business by curating combos with fragrances that complement each other.
6. Mobile Phone Accessories
With the constant increase in reliance on mobile phones in our daily lives, the demand for mobile phone accessories is ever-growing.
This involves the sale of popular mobile phone accessories such as phone cases, chargers, earphones, screen protectors, and more.
How to Start
- Conduct Market Survey: Understand the demand for various mobile phone accessories in your area by conducting a market survey.
- Choose a location: Decide whether to operate from a physical store, an online store, or both.
Marketing and Sales Tips:
- Design and distribute flyers and posters in your local community to reach more people.
- Encourage customers to leave reviews on your website, and social media profiles.
- Offer customers additional or higher-end products during the sales process.
7. Freelance Writing and Editing
Freelance writing involves creating written content for various clients on a contract basis. It involves writing a wide range of materials including articles, blog posts, website content, social media posts, and marketing materials.
It is a flexible and rewarding career path and falls under the category of businesses you can start with N100000 or less in Nigeria.
Below are key tips to help you start and run a successful freelance writing and editing business in Nigeria.
How to Start:
- Upskill: Acquire essential skills, including writing, editing, research, and time management. Gain these skills by taking courses on platforms like Udemy, Alison, and Coursera.
- Build your Portfolio: Show case your best work by building your portfolio. Include writing samples and editing projects to highlight your skills.
- Leverage freelance platforms: Create your profiles on freelance platforms like Upwork, Fiverr, and LinkedIn.
- Be Trendy: Stay updated on industry trends, writing styles, and editing techniques by taking online courses, attending webinars, and reading industry blogs.
Marketing and Sale Tips
- Join online forums, writing communities, and social media groups to connect with other writers and potential clients.
- Attend industry events, webinars, and workshops to expand your network.
- Encourage clients to refer you to others and offer incentives through referral programs for those who bring in new business.
8. Graphic Designing
Graphic design involves using elements like photos, illustrations, and texts to create designs for various media, including print, digital, and social platforms.
They work on projects such as logos, websites, brochures, advertisements, and more, aiming to capture the audience’s attention and convey specific information effectively.
How to Start
- Stay Updated: Keep yourself informed on design trends, new software, and industry best practices.
- Build your network: Follow design blogs, join communities, and participate in challenges to stay updated and improve your skills.
- Seek Opportunities: Seek for internships, freelance opportunities, or entry-level positions to gain practical experience.
Marketing and Sales Tips
- Share your portfolio on social media platforms like Instagram, 99designs, Behance and Dribbble to connect with potential clients.
- Join professional organizations to connect with other designers and potential clients.
- Write blog posts, create tutorials, and share insights related to graphic design on your social media to establish yourself as an expert in the field.
9. Fruit and Vegetables Sale
The sale of fruits and vegetables is a sustainable business idea. It is fueled by the continuous demand for fresh produce among consumers. As global health awareness grows, more individuals are placing greater importance on nutritious diets with a wide range of fruits and vegetables.
The best part is, you can start this highly profitable business with just N100000.
How to Start:
- Conduct Market Research: Learn about the fruits and vegetables that are popular in your area and also research your target audience.
- Sourcing fresh produce: Source fresh produce directly from local farms to ensure quality and also support local agriculture. You can consider purchasing produce in bulk to get better prices and a wider variety of produce.
- Location: Choose locations that are close to residential areas or busy markets ensuring it is accessible and visible to potential customers.
- Preserving your products: Invest in proper storage facilities to keep your produce fresh.
Marketing and Sales Tips:
- Use fliers, and posters to advertise your business.
- Participate in community events to increase visibility.
- Partner with local restaurants, cafes, and grocery stores to supply them with fresh produce.
- Offer delivery services to make it convenient for customers to purchase your products.
10. Agriculture: Snail Farming.
Snail farming involves breeding and raising snails for commercial purposes, primarily for their meat, which is considered a delicacy in many parts of the world.
This is one of the profitable businesses you can start with N100000, due to the high demand for snails, both locally and internationally.
How to Start:
- Farming site Choose a farm site with well-drained soil, good shade, and protection from strong winds.
- Housing: Construct pens to house your snails ensuring the housing is secure, well-ventilated, and provides enough space for the snails to move around. These can be made from materials like wood, concrete, or wire mesh.
- Feeding: Provide your snails with a highly nutritious diet consisting of leafy greens, fruits, vegetables, and specialized snail food. Make sure they always have access to fresh, clean water.
Marketing and Sales Tips
- Promote your snails through local advertisements, social media, and word-of-mouth.
- Share informative content about the benefits of snail meat, recipes, and tips for cooking snails through blog posts, videos, and social media.
- Use high-quality photos and videos of your farm, snails, and dishes made with snail meat to attract attention and build the interest of your viewers.
- Partner with local restaurants and chefs to supply them with fresh snails and offer free samples to gain more customers.
- Ensure the snails are thoroughly cleaned and ready for sale; snails can be sold live, processed, or canned.
11. Handmade Crafts and Jewelry Business
Launching a handmade crafts and jewelry business in Nigeria can be a very profitable venture that requires only a small investment. The demand for unique handmade products is on the rise, and with the right strategies, you can transform your creative talents into a thriving business.
How to Start:
- Curate your designs: Design eye-catching and original pieces that really grab attention in the market. Try out various materials and methods to discover what makes you unique.
- Purchase tools: Acquire necessary tools and equipment for crafting and jewelry making. This includes pliers, wire cutters, soldering tools, and additional supplies.
- Product packaging: Go for eye-catching and sustainable packaging that not only makes your products look great but also shares essential details like care tips and your brand’s story.
Marketing and Sales Tips:
- List your products on popular e-commerce platforms like Jumia, Konga, and Etsy to reach online shoppers.
- Collaborate with local boutiques, gift shops, and other businesses to sell your products and increase your reach.
- Showcase your products at local markets, trade fairs, and exhibitions to increase sale and connect with potential customers.
- Share exclusive behind-the-scenes content, tutorials, and insights into your creative process to connect with your audience and build a loyal customer base.
12. Tutoring Services
Tutoring services involve one-on-one or small group lessons provided by a tutor to help students with specific subjects or skills. These services cover a range of subjects and educational stages, assisting students in improving their comprehension, and performance.
How to Start
- Carve your niche: Identify the subjects you excel in and eager to teach. This may include areas like math, science, and languages.
- Identify your target audience: Choose the age group you’d like to tutor, whether it’s elementary, middle, high school, or college students. You can also provide focused tutoring for standardized exams such as IELTS.
- Location: Choose whether to provide tutoring in your home, the student’s residence, a nearby library, or to conduct sessions completely online.
- Research and gather resources: Gather teaching materials and resources, such as textbooks, workbooks, educational software, and online resources.
Marketing and Sales Tips:
- Advertise your tutoring services using fliers and business cards; share these at community events, and school fairs.
- Encourage students and parents to refer your services to others.
- Provide a range of pricing options, including hourly rates, monthly plans, and group discounts, to suit different budget needs.
13. Mini Importation
Mini importation involves bringing in small amounts of products from foreign suppliers, usually via online marketplaces, and selling them locally. This business requires minimal investment, offers a wide range of product choices, and enables flexibility and growth.
This business has gained popularity due to its low startup costs and the potential for high returns.
Below is a detailed guide on how to start this business.
How to Start
- Product selection: Choose products that are lightweight, durable, and easy to ship. These include electronics, fashion items, beauty products, accessories, and gadgets.
- Use E-commerce platforms: Explore reputable online marketplaces like Alibaba, AliExpress, DHgate, and Made-in-China to find suppliers. Make sure the suppliers have good ratings and reviews.
- Shipping: Choose a reliable shipping method that balances cost and delivery time. Common options include air freight, sea freight, and courier services like DHL, and FedEx.
- Storage: Set up a storage space for your imported goods. Use inventory management software to monitor stock levels to determine when to reorder.
Marketing and Sales Tips
- List your products on popular e-commerce platforms like Jumia, Konga, and Amazon to increase your reach and sales.
- Participate in local markets, trade fairs, and pop-up shops to promote and sell your products.
- Share informative and engaging content about your products, such as how-to guides, reviews, and customer testimonials.
- Ensure that the products you import are of high quality and meet customer expectations.
14. Shawarma and Barbecue Business
Starting a barbecue and shawarma business is a great idea especially considering the growing demand for delicious, quick meals among consumers.
Barbecue and shawarma are favorite options because they are tasty and filling. They can be enjoyed while on the move or at parties.
With an initial investment of N100000, you can launch your business and take advantage of this profitable market.
How to Start
- Location: Pick a location with high foot traffic, such as schools, offices, busy streets, or markets. Ensure the location is accessible and visible to potential customers.
- Sourcing Ingredients: Purchase fresh ingredients, including chicken, beef, vegetables, lettuce, tomatoes, onions, shawarma wrap, and spices in bulk to save cost.
Marketing Tips
- Post photos of your dishes, daily specials, and customer testimonials on your social media channels.
- Share fliers and posters in your local area to attract customers.
- Offer special discounts or free samples during your launch to attract initial customers.
15. Mobile Barbing Salon
Starting a mobile barbing business can be a highly rewarding and lucrative venture. The demand for skilled barbers remains constant, catering to a wide range of people such as children, adults, and individuals of all genders.
How to Start
- Essential equipment: Purchase essential equipment and tools needed for running your barbing salon such as clippers, aprons, scissors, combs and brushes, sterilizers, mirrors, and chairs.
- Customer Service: Provide excellent customer service; Be friendly, professional, and attentive to client needs.
Marketing and Sales Tips
- Share fliers and posters to attract customers.
- Post photos and videos of your haircuts and customer reviews on your social media profiles to boost sales.
Key Takeaways from Businesses You Can Start With N100000
Whether you’re a seasoned or aspiring entrepreneur, these actionable takeaways will equip you with the strategies needed to build lucrative businesses you can start with 100k in Nigeria and achieve long-term success.
1. Understanding Your Target Audience
The foundation of any successful venture lies in knowing your audience. Conduct thorough research to understand their values, interests, behaviours, and purchasing patterns. Tailor your services or products to address their specific needs and solve their problems. For instance, if you’re venturing into a hairdressing salon or a POS business, knowing the preferences and expectations of your target market can make your business a preferred choice.
2. Financial Management
Efficient financial management is key to running profitable businesses. Track every expense, stick to your budget, and avoid unnecessary spending. Allocate a portion of your profits for reinvestment to fuel growth while exploring cost-effective strategies that maintain the quality of products and service . For example, sourcing materials locally or utilizing technology can help cut costs.
3. Networking and Collaboration
Collaborations and strategic partnerships can expand your resources and reach. Build relationships with fellow entrepreneurs and potential customers by attending industry events, joining local business communities, or engaging on social media platforms. Partnering with complementary businesses, such as a mobile barbing salon teaming up with hair product suppliers, can enhance your visibility and operational efficiency.
4. Continuous Learning
The market evolves rapidly, and staying informed about industry trends is crucial for sustaining success. Invest in upskilling yourself through courses, workshops, or mentorship programs. Entrepreneurs who adapt quickly to new tools or practices can start some of the best businesses with just N100000 effectively. For example, learning digital marketing can significantly enhance your business’s online presence.
5. Consistency
Starting a business on a limited budget requires resilience and persistence. Consistency in quality, customer service, and marketing efforts ensures you retain clients and grow organically. Whether running a mini-importation business or a mobile barbing salon, staying committed to your vision is crucial to overcoming challenges.
Conclusion
It is quite feasible for you to start a business with just N100,000. From a POS business to a mini importation venture or a mobile barbing salon, there are numerous opportunities to explore. The secret lies in taking the first step, leveraging affordable resources, and continually improving your skills. Use digital tools to boost your visibility and build a loyal customer base.
At Entrepreneurs.ng, we’re dedicated to supporting your entrepreneurial journey. Explore our Shop for business templates, use our Business Registration Services to formalize your venture, and enroll in our Entrepreneurs Success Blueprint Program for expert guidance.
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FAQs on Businesses You Can Start with N100000
1. What kind of business should I start?
Choosing the right business depends on your interests, skills, and market demand. Consider options such as snail farming or liquid soap business.
2. How do I pick a good name for my business?
Select a name that is unique, memorable, and resonates with your target audience. It should reflect the nature of your business and be easy to spell and pronounce.
3. Which business can I start with hundred thousand naira in Nigeria?
There are several options, including a POS business, hairdressing salon, and mobile barbing salon. These ventures require minimal capital and offer quick returns if managed well.
4. How can I manage my small business effectively?
Effective management involves strategic planning, consistent customer engagement, and sound financial practices. Create a standard business plan, track your expenses, and continuously seek ways to improve operations.
5. What are some profitable businesses you can start with 100k?
Examples include mini-importation, snail farming, graphic designing, and mobile barbing salons. These ventures offer scalability and high demand, making them great choices for entrepreneurs with limited capital.
6. What businesses can I start with no capital?
Starting a business with no capital is possible by taking advantage of skills or services that require minimal resources. Examples include freelance writing, social media management, or offering tutoring services. Use free digital tools and platforms to market your services and grow your customer base.
7. What businesses can I start with zero money?
You can start ventures like affiliate marketing, blogging, or drop shipping with zero money by capitalizing on free platforms and tools. These require time and effort but offer significant potential for growth with minimal upfront investment.
8. What is the list of businesses you can start with 100k?
The list includes POS businesses, mini-importation, hairdressing salons, and mobile barbing salons. Each of these options can be tailored to meet specific market demands in your area.
9. Which are the best businesses you can start with 100k?
Some of the best ventures include mini-importation, mobile barbing salon, and POS businesses. These options combine low startup costs with high potential returns, making them ideal businesses you can start N100000.
10. How can I ensure my business is lucrative and profitable?
To make your business profitable, focus on understanding your target market, maintaining excellent customer service, and optimizing your operations for efficiency. Reinvent your strategies regularly to align with market trends and make use of digital tools to reach a wider audience.
