Small Scale Business 50,000 Naira
Are you looking for a small scale lucrative business in Nigeria you can start with N50,000 or less? Here is a list of such lucrative small scale businesses you can start in Nigeria today.
Starting a small scale business may be the perfect idea for you if you are a student, a sit-at-home mum, physically challenged or just someone whose surname is not Bill Gates or Dangote. Lol.
It is also for people who do not have the time to handle all the stress that comes with operating a medium or large scale business and just want to establish a source of passive income.
Whatever your reason, I will show you in this post some of the most lucrative businesses that can be started with as little as N50,000 (about $140,000 as at the time of this writing).
Some of the businesses listed here can even be started from the comfort of your home, others will require you to do simple things such as move your goods to different locations in order to make more sales.
Here Is A List Of Small Scale Businesses That Can Be Started In Nigeria With N50,000 Or Less
#1. Popcorn Business
Do you know how much an average Popcorn dealer makes in a day? You will be shocked to discover this small scale business is capable of putting thousands of Naira each day in your pocket.
In my research, I discovered Nigerians are not the only ones that enjoys eating popcorns a lot. This is why the business also thrives in countries like Kenya, South Africa, Ghana and even in Western countries like United States of America.
A well prepared popcorn does not take a lot of time and energy and can be done by one person.
The business can be started with as little as N5,000. That is less than N50,000.
There are lots of places where you can sell popcorn easily and make enough profits daily. For instance, schools, hospitals, restaurants, amusement parks, motor parks, event centres and so many others.
#2. Buying And Selling Of Recharge Cards
Yes, recharge cards business is not dead yet in Nigeria. It is still one of the most lucrative small scale businesses that can be started with less than N50,000.
All you need is to pay attention to the telecommunication network that most people use in your area and the recharge card denomination that sells faster.
In most areas, starting with MTN network and then adding others like GLO, AIRTEL & 9MOBILE will enough for a beginner.
I have also discovered that the lower denominations like MTN N100, N200 & N400 performs better in most areas than the bigger ones.
It will be a great idea if you can do your research and find out what works best in your area and go with it.
Overall, recharge card selling business is worth giving a shot.
- #3. Charging of Phone Batteries
This is also one of the most lucrative businesses people with a low budget can invest. Students and stay at home mum will also enjoy the ease and comfort that comes along with this particular business.
One of the reasons this business is very lucrative is the fact that we have over 100 million active phone lines in Nigeria. That means we have over 100 phones that require constant or once-in-a-while charging to keep it going.
It is also interesting to note that with all the development in a great country like Nigeria, power supply is still a big challenge.
This is why one in every five Nigerians charges his or her phone outside his home at least once in a week.
Some charge theirs at restaurants, churches, game centres and at work places. But majority of the people charge theirs at phone charging business centres.
This is why the business is very lucrative. If you are looking for a small scale business to start with less than N50,000, then battery charging business may just be an option for you.
- #4. Wholesale Distribution Of Table Water (Pure Water)
Do you know an average healthy human being is expected to drink at least 3 litres of water daily?
An average Nigerian working outside his home drinks at least 3 sachets of Table water also called “pure water” daily. For those whose work involve hard labour or those who works directly under the sun, it is even more. Especially when the water is very chilled or cold
Apart from the working class, at different homes, “Pure water” is the main water for drinking or doing other things that requires water.
- #5. Beads Making
In a country that is crazy about beauty and fashion like ours, beads making stands out as one of the most lucrative small scale businesses to start with N50,000 or less.
Although beads making requires some form of training (between 3 months to 1 year) before you can start the business, the materials are relatively cheap and easy to come by.
You can decide to specialize in making only necklaces, earrings and bangles, handbags or even footwears.
You can as well decide to learn and specialize in making all of the 3 main bead products. That way, you will have more customers and can be sure of making more sales regularly.
(If you’d like me to recommend a place where you can buy quality bead products for any event in Nigeria or go for trainings, then check out Mimi Classic Beads. They have some of the most beautiful bead designs I have ever come across. You can reach them on +2348137139548)
- #6. Selling Of Data Bundles
Few months ago, I was having a conversation with my friend and brother Sammario (the owner of African Info Blog) and he shared with me how he has used this business to sustain himself in school.
Selling of Network Data Bundles may not be the first idea that comes to mind but if you are living in a student area or an environment with much people who works constantly on the internet, then this is worth giving a shot.
You can start with the most popular Networks like MTN, GLO, AIRTEL & 9MOBILE and then include others with time.
I know you may be wondering how you can get people to patronize you with all the competition from Telecommunication Networks themselves.
The secret is, Data resellers normally buy their DATA in very large quantities and and then sell to customers in bits and at a much cheaper rate than most network providers.
For instance, MTN, GLO, AIRTEL & 9MOBILE sell 500MB between N500 to N750. If you were to buy the same 500MB from Sammario and other DATA resellers, you will get it at the rate of N350. Thereby saving N150.
That alone will make you want to buy and come back for more. And the more you buy, the more profits they make themselves.
That is how the business works.
#7. Baby Wears Business
Baby wears business falls among the list of businesses that can be started even with less than N50,000.
You can start by just selling baby socks, caps and few clothes (including sweaters) in hospitals and maternities. You can as well carry them around from house to house.
With the rate at which babies are born in the world today, this is a business that you can always be sure of making sales everyday.
- #8. Selling Of Men’s Socks And Boxers
This is also a good small scale business that can be started with N50,000 in Nigeria.
A pair of socks is sold between N150 and N200 while a boxer is sold between N400 and N1,000 depending on the quality.
The business is so lucrative that you can be sure of going home with enough profits daily especially if you know where to get your goods at a very cheap rate.
I hope you find this post helpful. If you know any other lucrative business that can be started with N,000 or less, feel free to add that in the comment section below.
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