10 Businesses You Can Start With 50k in Nigeria

Today, we’ll be looking at businesses to start with 50k in Nigeria today that are both profitable and sustainable.

Individuals looking to start small businesses, however, lack the necessary funds due to the difficult economic realities in Nigeria and many other African countries. As a result, many Africans, particularly in Nigeria, are looking for business opportunities that can be launched with little capital.

Take a deep breath if the lack of large capital is the reason you are not starting a business. There are business ideas in Nigeria that can be implemented for as little (or as much) as N50,000.

Before we continue, below is a list of 10 Businesses You Can Start With 50k in Nigeria.

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10 Businesses You Can Start With 50k in Nigeria

1. Perfume business
2. Plantain chips business
3. Popcorn business
4. Soap production business
5. Mini importation business
6. Organic drink production and sales
7. Ice cream and healthy yogurt production
8. Cake Business/catering
9. POS Business
10. Production of air freshener

1. Perfume business

You can basically make a fortune by making people smell nice. It’s fairly simple and inexpensive to get started because you don’t need much equipment. All you have to do is find a reliable distributor who can supply you with the quality and quantity of perfumes that you believe your customers will enjoy. Conduct additional research to determine which scents and fragrances customers are most interested in. You can start this business confidently with N15,000 or more and build a customer base from your immediate network, family, and friends.

You can buy 10 ml oil perfumes for $2500 and resell them to your customers in small 1ml containers at your chosen price, depending on your location and time of purchase. This business has the potential to make you a lot of money, especially if you can find a genuine vendor who sells undiluted scents. Even if you have N50,000, start with half of that and pay attention to what your customers want. With proper packaging and delivery, you can give your products a distinct look and feel.

2. Plantain chips business

This is a very profitable business. Plantain chips are a popular snack food in Nigeria. Making them, branding them, and selling them to various stores or supermarkets will allow you to earn money on a daily basis. From buying plantains in bulk (ripe or unripe, depending on your preference) to buying groundnut oil, gas, sugar, nylon, and so on. You should be able to spend #50,000 in this direction wisely. Your house will be both your business office and your manufacturing plant.

3. Popcorn business

In Nigeria, you can start a popcorn business with little money and make a good profit. To run a successful popcorn-making business in Nigeria, you’ll need a good location. In a good location, you can sell enough popcorn to cover your costs and make a profit.

A successful popcorn business in Nigeria can be started with only corn, a nylon sealer, and a popcorn maker. Consider the startup costs for a popcorn business in Nigeria. Here’s a rundown:

A machine for sealing (N2,000 or less)

Machine for making popcorn (30,000)

Maize: 14,000 (50kg)

Ingredients worth 4,000 Naira

Total cost: #50,000. (Prices may vary depending on location and time)

4. Soap production business

Soap production is another fantastic business that you can start in Nigeria with as little as #50,000. What’s even better is that you can start your soap production business from the comfort of your own home. You will obtain the chemicals and equipment before branding it.

This requires prior knowledge of the procedure. A word of caution: if you have a baby or toddler in or around your home, you should reconsider doing business with this company due to exposure to the chemicals used in production. Even if there are no children present, having a room or space dedicated to all of your production and packaging processes is beneficial.

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5. Mini importation business

The start-up costs for this business can be as low as N50,000. The key formula is to understand the business so that you can benefit from it. To avoid paying too much when clearing, choose lightweight items such as selfie sticks, ring lights, phone cases, car trackers, wristwatches, headphones, and so on.

Some of these items can be purchased for as little as N800 each, cleaned, packaged, and resold for twice or thrice the price, providing you with a healthy profit margin. When you buy these commodities from online retailers, you can resell them online without the need for a warehouse. You can sell your items on e-commerce platforms such as Jumia, Konga, and Jiji. You can create a product catalog on WhatsApp Business, sell on Instagram and Facebook, and experiment with a variety of other free options.

6. Organic drink production and sales

There is a huge market for everything from fruity juice to yobo drinks and even smoothies.

Some of the factors to consider are the location and the preferences of the people in the area. But, these days, you can never go wrong with healthy products.

You can start a large business with $50,000. In fact, even $20,000 will go a long way. Remember that no business with the right market/product combination and pricing is truly bad business. Your effort, attitude, and discipline are crucial in determining how successful you become.

7. Ice cream and healthy yogurt production

With the level of enlightenment about the consumption of such items in Nigeria, producers of caffeine and sugar-laden soft drinks may soon have to bite their fingers. However, people would require alternatives.

Already, I’d rather have locally made healthy yogurts and fruit ice cream than popular soft drinks in a black and red bottle or even the popular one in orange, and the same goes for malt drinks. This pattern created a tremendous business opportunity. The decision is entirely yours.

8. Cake Business/catering

Nigerians adore cakes. Cakes are used in weddings, anniversaries, and other ceremonies. People also buy cupcakes to satisfy their sweet tooth. This is a good one when combined with catering or just the cake business.

If you are very good at what you do, all you need is consistency and a little time, and the business will be thriving before you know it.

But don’t expect any miracles because many people have already started the business before you. However, if you have something very special about you, you will become famous over time.

9. POS Business

For less than 200,000, you can start and manage your own POS business. The terminal costs less than N25k for a POS company like MoniePoint.

If you don’t already have a shop, you’ll need a small counter once you get the terminal. The counter should cost no more than N60,000. After that, you are ready to register and launch your POS business. The registration process is simple and quick.

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10. Production of air freshener

This is a good idea for businesses to start in Nigeria with little capital. I especially like this business idea because it is unique and few people are doing it.

For starters, you could sell in low-brow supermarkets (if you have a good product that smells good and lasts).

However, as your product and customer base grows, you begin to attract larger brands who want to sell your products. You might want to consider combining the production of air fresheners with similar products such as perfumes, etc.

Conclusion

Given the state of the Nigerian economy, wanting to start a business makes sense. Unfortunately, the majority of Nigerian businesses have relatively high startup costs. Fortunately, we were able to identify ten Nigerian businesses that you could start for as little as #50,000. The list is by no means exhaustive, and there are numerous other low-cost businesses. you can make more research.

10 Businesses You Can Start With 50k in Nigeria