Starting a business in Nigeria can seem daunting, especially when you think about capital. But the truth is, you do not need millions to get a business off the ground. Many profitable ventures can begin with a budget of just N200,000.
This list shows how you can use a small amount of money to start and grow a real business. We break down the costs and what it takes to succeed in each field.
Remember, success comes from hard work, not just the money you start with.
1. PoS Business
The Point of Sale (PoS) business is very popular in Nigeria. You help people withdraw, deposit, and transfer money. It is a vital service, especially in areas with few bank branches.
You need a PoS machine, which costs about N25,000. Your float, which is the cash you use for transactions, can start at N100,000. A table and chair cost about N10,000. An umbrella or a small kiosk will be about N25,000. Rent for a good spot can be N30,000 to N50,000.
2. Food Vendor
Many people in Nigeria buy food every day. As a food vendor, you can sell meals to workers in offices, students, or people on the street. This business has a daily cash flow.
You need a cooking gas cylinder and a burner for about N55,000. Pots, pans, and other utensils will cost you around N30,000. Disposable packs for your food cost about N15,000. You can start with an initial food stock of about N50,000. A table, umbrella, or a small kiosk will be about N50,000.
3. Home Tutoring
If you are good at a subject like mathematics, English, or science, you can make money by teaching. This business has very low startup costs and a high profit margin. You can teach children in their homes.
You will need a whiteboard and markers, which cost about N15,000. Stationery like notebooks and pens will be about N10,000. Flyers to advertise your services can be as low as N5,000. Your biggest cost will be transport to get to your students, which can be about N20,000 to start.
4. Laundry Business
A laundry business is always in demand, especially in busy cities. You can start small, even from your home, and wash clothes for people in your neighborhood. You can save on rent if you start from a room in your house.
Your initial costs will be low. You need buckets, soap, and detergents at about N10,000. An iron and an ironing board cost around N30,000. Branded nylon bags for your customers cost about N10,000. Flyers or a small banner to advertise your services will be about N15,000. If you decide to rent a small space, it could cost between N50,000 and N80,000. The total cost can be managed to fit within your budget.
5. Popcorn Selling
Everyone loves popcorn. Selling popcorn is a simple and profitable business, especially in busy areas like markets, schools, or parks. You can start with a basic setup and grow from there.
A popcorn machine costs about N80,000. Your raw materials like corn, sugar, and butter will be about N20,000. Disposable cups or nylon bags cost around N10,000. A table or a small cart will be about N20,000. If you need to rent a small space or kiosk, it could be between N30,000 and N50,000.
6. Data Sharing / VTU
This business is very easy to start and you can even do it from your smartphone. You buy data and airtime at a wholesale price and sell it to customers at a profit. You can sell data to friends, family, and people you meet every day.
You do not need to buy a smartphone if you already own one. Your main cost is wallet funding, which can be N150,000 to start. Flyers or promotions to get the word out will cost about N15,000. You can even promote your business on social media for free.
7. Car Detailing
People want their cars to look clean and new. Car detailing is a great service business. You wash and clean cars in a professional way, from the inside out. You can offer this service to people in their homes or at their offices.
A good vacuum cleaner is essential. It costs about N110,000. You will need shampoo, wax, and brushes for about N20,000. Buckets and sponges cost about N10,000. A generator to power your vacuum cleaner will cost around N60,000.
8. Virtual Assistant
A virtual assistant helps people or businesses with tasks from a remote location. You can work for clients in Nigeria or even overseas. You can manage emails, social media, appointments, and more.
Your most important tool is a laptop, which can be bought for about N120,000. You will need a reliable internet subscription, which costs about N20,000. Training or resources to learn new skills can be about N10,000. This business has a lot of flexibility.
9. Metal / Plastic Recycling
This is a business that helps the environment. You buy old metal and plastic from people and sell it to recycling companies. The demand for these materials is always high. You can do this from home or find a small space to keep the materials.
You need a scale to weigh the materials. A good scale costs around N15,000. Your initial capital to buy the materials will be about N150,000. Accessories like gloves and bags will cost around N30,000.
10. Small-Scale Fashion Design
If you have a talent for fashion and design, you can start your own small clothing line. This business allows you to be creative and sell your own unique products. You can sew simple outfits like dresses, tops, or shirts and sell them to friends or on social media.
Your main investment will be a good sewing machine, which costs about N50,000 to N70,000. You will need a variety of fabrics and threads, costing around N70,000. A mannequin for display can be about N15,000. Other accessories like scissors, measuring tape, and zippers will cost around N10,000. You can use the rest of the money for marketing your brand online.
You can start many other businesses with this budget. The key is to find something you are good at and that people in your area need. With a clear plan and hard work, your N200,000 can become the first step towards a successful empire.
