BEST BUSINESS TO START WITH 10K in Nigeria 2022: The Top 20 (+free guide)

In Nigerian economy, there are many businesses to start with huge investment or capital but we rarely discuss those best business to start with 10K. So, I decided to work on them and yes, they are here to guide as you navigate through life.

Let us get into a list of best businesses to start with 10k in Nigeria. From thorough research, there are quite a several profitable businesses that you can venture into with this capital in Nigeria.

With the rate of unemployment in Africa, many average citizens live without means of income. Individuals are moving about, begging for money, trying to navigate through ways to make money because there is no stable source of livelihood.

But you can live a quality life without depending on anyone, by venturing into many low businesses to help your source of livelihood. With the situation of Nigeria, it has forced many people to start their own business. So, if you are one of them, wondering what you can sell with 10k, here are the best business to start with 10k in Nigeria:


1) Selling of bottled drink or bottled water:

This is quite an easy business but as easy it looks, it is not so easy. It is something people consume every day. People want to have cold drinks for hydration and no one can live without water. If you are in a densely populated city like Lagos, then this is the best bet, and ₦10,000 or less will come in handy.

First off, acquire a space in a boisterous area in your vicinity. It can be a bus terminal or a particular joint. Buy a cooler, umbrella for a shield, iced water, a little signboard to inscribe, “Buy your Cold minerals and water here. You can as well, expand to add a recharge card to it.

2) Production of Popcorn:

There will always be a need for something people want to use to quench hunger, and snacks will come in handy. We are ever ready to buy snacks. Popcorn is one of the fastest-selling snacks. It’s easy to eat because one can eat it at home, when walking on the road, in their shops, in a vehicle or cinemas. To start a popcorn business, necessarily doesn’t require you, acquiring a shop, hence why it’s pegged as one of the best businesses to start with 10k. It needs an environment with high sales.

To start, buy a machine, corn, butter, groundnut oil, sugar, salt, flavour nylon, and powdered milk. You don’t need to acquire or rent a shop because you can as well, partner with someone that owns one. Or you can get a busy place outside and acquire an umbrella. All you need is to settle the local government council.

A small popcorn machine goes as low as ₦8,000, ₦3,000 for an umbrella, and a bag of corn goes for ₦5,000.

Guideline on How to Make a Popcorn

Scoop 3 tablespoons of oil, ½ teaspoon of salt, ½ cup of popping corn, 3 tablespoons of butter melted in a large quantity, heavy-bottomed saucepan. Then, pour the oil, salt, or sugar and popping corn. Switch the heat to medium, close the pot with a lid left ajar, and shake once or twice. Slowly, the corn kernels to pop within a minute or two. Once the popping calms slowly to an almost a stop, remove the pot from the heat. Move the popcorn to a huge serving bowl and drizzle with melted butter, tossing well to combine. Add more butter or salt, if preferred, then add powdered milk.

But starting, you can carry out the practical at home to get acquainted.

Read More: Guideline on How to Make a Popcorn

3) Sales of DVD/CD

This is one of the lucrative best business to start with 10K. Even in this age of social media and smartphones, there are still people ready to patronise music and movies DVD/CD. Its booming market sales are India, Chinese, American and the Philippines. A huge money-making best business to start with 10K.

Most of the DVD/CD sets are sold at 150 naira to retailers. And wholesale prices at Alaba, go for just a meager ₦25. And most DVD movies come in different parts e.g Season 1, 2, 3, and up to 12. Again, you don’t need a shop. The sellers, stay in busy spaces and display their DVDs on a table.

4) Phone Accessories:

Every day, most phone users are faced with one or two issues. Either battery, charger, or earpiece. So, this can come in handy with just 10k. It’s lucrative, especially if you are aware of the market concentration.

To start, you can partner with a bigger shop, preferably computer village, buy some of the products and get supplied with others while you pay later.

5) Food Business:

If you are in Lagos, people always want to eat. We like food. When we are broke, we will buy food. Have you thought of investing 10k in the food business? Yes, you heard 10k. It is one of the best businesses to start with 10K. All you need is to set up a shop where you sell your food. It necessary doesn’t have to be a shop but a standard busy place where you get tables, umbrella, and chairs to sell food to hungry masses.

In this kind of business, if you start, you can gauge the number of your customer that patronise you to prevent wastage. There is no loss because when there are no sales, you can have the food for your household.

Read More: Download 500+ business plans for any business

6) Dry Cleaning:

In this business, for a start, you need only 10k. It is a little capital to buy iron, detergent, pressing stool, new bowls, and fetch water if you live in an urban city where gallons of water is sold.

You might be shocked to find out that many people in Nigeria, don’t like washing clothes themselves. From 10k, after your profits increase, you will acquire a generator, washing machine, etc. Generator, because of non reliance on electricity in Nigeria. Everything is step by step.

Read More: Start-ups and Laundry Equipment

7) Recharge Card:

Here, profit might be minimal but the turnover is huge from research amongst SME. It is quite easy to sell 10k recharge if you are in a busy terminal point. Selling the recharge card, it is pertinent to stay in a target location. The recharge card business is a huge catch.

8) Motivational Books:

It’s quite profitable, especially in Nigeria. Most of the motivational books with catchy titles like, “How to make millions in a year.” “How to Keep your marital home,” etc. Well, many of the people you see on the roads, selling motivational books might not be quite affluent, but they are not poor to the extent of not having a roof over their heads or anything to eat. With only 10k, you can buy enough books and make as much as 2k from just a book.

9) House Agent:

If you are in Lagos, I don’t know if there is a spirit that chases Lagosians. They change the house often for various reasons. Either because of money issues and they are looking for a cheap house. Or they just cashed out and want to move to a more comfortable place. Here, there is huge profit. You need to know many landlords.

One of the best businesses to start with 10K and with the money, all your needs are just a mobile phone and an ID card. And with less than 10k, most things are sorted, to acquire contacts of various landlords.

Read More: Business Ideas for Women to Start

10) Newspaper Vendor:

Recently, I used to think many Nigerians no longer read newspapers, but I found out most vendors sell out their products every day. Again, good thing is, you don’t run on loss. You can return the paper to the publishers if you don’t sell out. Many of them make a lot.

If you are agile, you can sell in traffic congestion or a big estate’s gate. With 10k, you get a new table, chair, and umbrella.

11) Customisation of T-shirts:

I am talking about heat transfer printing. It is a hard task getting clients but when you do, it is a market boom. Maybe people that are going on a protest or any other event and want to print in mass production.

You need your 10k in sourcing clients, printing posters, and advertising aggressively on social media.

Read More: Start-up Business Ideas

12) Refreshment:

In most cases, when you think about the idea, your main question, will be, “where will I find a shop where I will pay 10k per annum?” Because it’s what you have at that time.

There are variants of refreshments sold in Lagos traffic but most importantly, there are alternatives like Zobo, Kunu, etc. You can get its ingredient for manufacturing at a cheap rate and supply to different retailers. What consumers want, its quality and they keep returning.

13) Food Items:

Like in selling food, it’s the same for food items. No one cares if they are rich or poor. They will use their available money to buy food items. They can even beg to buy them. People are always eager to satisfy their stomachs.

With 10k, you can start with s small scale, then move up later. Start with selling little quantity of garri, beans, palm oil, yam, spices, etc.

14) Vegetable:

Unlike in rural parts of Nigeria, where almost everyone has their gardens, this is rarely applicable to them. But if you stay in the city, especially Lagos, then this is for you.

Lagosians are eager to get fresh vegetables for consumption. An acre of land costs three thousand naira. You can get two to plant products, use about 2k to acquire manure & others till the vegetables bloom and you use the remains to transport to the retailers & final consumers.

15) Freelance Writing Business:

It is a business where you get paid for delivering to your clients. For writers, they write for clients or publishing companies via, blog posts, sales letters, copywriting, reviews, descriptions, articles, etc.

It doesn’t require much capital, except for your phone or laptop. You, power your gadgets but must have data for researching and delivering to your clients.

16) Poultry Business:

This is on the list because it is varieties of raising many domestic birds like chicken, turkey, and all others. It is quite popular in Africa and had been the fastest-growing agricultural business ideas. And at most, the best business to start with 10K. It can be done in the comfort of your home.

17) Social Media Marketing:

Since the advent of social media, it had been offering another concept of selling through social media marketers. Many young lads, have monetised it through various social media outlets e.g Facebook, Linkedln, Twitter, or Instagram.

Many of the marketers are people with huge followings, many years or months of building their safe space. You don’t need much capital here, except for constant data to build your network.

18) Small Scale Agriculture Business:

It includes the breeding, production, and distribution of crops, farm machinery processing, seed supply, marketing, and promoting retail sales.

It can be from a little space and investment. There, you can plant some crops, in small or vertical containers. Or if you are lucky to find a little planting area in your place, then you are good to go.

Read More: List of Top Agricultural Grants in 2020

19) Fish Farming:

This has been blooming as one of the profitable businesses in Africa. Quite a many individuals had been delving into it compared to before. It allows people to rear fishes for others.

It can begin on a small scale with only 10k, setting up your fish pond using 1000 litres of an open plastic container.

20) Small Chops:

This is one for the fast rising best business to start with 10k. It can be in the comfort of your home or a shop/outlet. It is irresistible and you make them based on customers’ orders. You need essential tools like egg beater & your business is done.

Business Yield Idea generator

What makes this the best anyone can find online is that this generator is purely done by humans not a set of algorithms or Artficial intelligence.

Humans gather data and do a quick but detailed research based on the information you provide. It’s simple, answer a set of quick and easy questions and your business ideas will be on your email in less than 24hrs.

24hrs because this is the most feasible idea generator as it takes into consideration, your budget, intended startup locations, talents and skills, available time you can give the business etc. Based on these data with extensive feasibility study and just little token, you would have list of ideas sent to your email with links to give you access to instant business plans, Business model canvas and upto 3 years financial analysis to help you get started for the business.

Frequently Asked Questions

What Businesses will be in demand in the future

  • 3D printing. …
  • Consumer goods and services business. …
  • Business in real estate. …
  • Healthcare industry
  • Outsourcing business. …
  • Internet of things (IoT) industry. …
  • Rise of co-working space. …

Which business is best for beginners

  • Courier or Delivery Services.
  • Home Cleaning.
  • Freelancer.Dropship.
  • Online course instructor/developer.
  • Advertising.
  • Dry cleaning
  • Event planning
  • Hairstylist

What should I study to make good money

  • Petroleum Engineering.
  • Computer Engineering.
  • Business Administration
  • Economics.
  • Chemical Engineering.
  • Applied Mathematics.
  • Physics.
  • Computer science & technology
  • Statistics.
  • Finance
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  3. Businesses You Can Start With 100k
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