With as little as 10k, you can start a profitable business in Nigeria today. It is no news that entrepreneurs are now making waves all over. If you are looking to join the elite league, you can do so after reading this. We will even throw in some free guides for these businesses.
Without much further ado, here are the best 20 businesses to start with 10k in Nigeria today.
#1. Mini-Importation
This requires very little from you as the business owner. You will be tasked with importing various items from foreign countries and reselling to Nigerian customers. Mini importation is somewhat a crowded niche presently, but the sky is big enough! This makes it one of the best businesses you can start with 10k.
Guide for mini-importation:
To begin, find a palatable foreigner who ships items out of their country. You can specialize in importing jewelry, clothing items, shoes, or handbags. Once you find someone willing to sell in bulk to you at a cheaper rate, book them. Then go ahead and pay for your importation. Most times, the startup cost is about 10k only for a few items. Once you have made the payment, your goods will be sent to your preferred location. It may take a few weeks to arrive. Once they arrive, go ahead and resell these items in such a way that you don’t run at a loss. Ensure you are selling at an affordable rate as well to ensure you sell out.
#2. Gadget Sales
Gadget sales is also another profitable venture you can run with just 10k. Here, you will be tasked with providing quality tech gadgets for individuals at an affordable rate. You may choose to import these gadgets or simply buy from local vendors and resell them. Either way, ensure you are providing quality and top-notch gadgets in order to retain long-term customers.
Guide for gadget sales:
On foreign platforms like Amazon and AliExpress, tech gadgets are way cheaper for bulk purchases compared to local purchases. With as little as 10k, you can select a variety of gadgets to import from the platforms. Your gadgets can range from earphones (wired and wireless) to selfie sticks, to phone pouches, and so on. With time, you should grow to become an importer of A-Class mobile phones.
#3. Airtime & Internet Data Sales
This is one of the best businesses you can start with just 10k. Most network companies these days have the option for bulk purchases. With these options, you can purchase airtime in bulk for a cheaper amount. Then let your rates be a bit cheaper than the normal cost but not as cheap as the amount you bought it for. This will encourage people to buy from you instead of buying from a normal source.
#4. Food Vending
This is an evergreen business for every season. It’s always in demand.
People need food to survive! No matter how laborious or robust an economy is, one thing people will never do without is food. This is a business that, if you run well, will make you wealthy.
It’s very easy to win loyal customers. As long as your food is delicious and nutritious, customers will always return. If you can get a decent location and acquire the proper skills and personnel, you’ll be able to run a successful food business.
#5. Delivery Services
Running a delivery service requires as little as 10K. It is one of the best business ideas you can materialize. It involves you delivering products and goods from one point to another within a particular city. Sometimes even from one city to another, and, with advancement, from one country to another. People will never do away with the need to transport goods, so you know you have a sustainable business.
Guide for delivery services:
You can start by utilizing public transportation like buses and motorcycles at the start of your business. But with time, you would gather enough money to acquire your own motorcycle and a dispatch rider. This will put you on top of the game.
#6. Blogging
Blogging is one of the oldest varieties of social media. Basically, it’s a web journal or diary that represents your whole business.
With 10,000 naira, you can start a blog. All you need to do is pay for your hosting and domain name through a Nigerian hosting company and design your blog yourself or get someone else to do that without making a design mistake.
Blogging improves your brand awareness, search ranking, and web traffic, amongst other things.
You only get to renew your fees once a year, and every other thing you’ll need will be provided by free plugins. You can start as soon as possible by reaching out to your hosting company.
#7. Dropshipping
Dropshipping offers a chain management methodology whereby the distributor doesn’t keep merchandise in stock but transfers it directly to the customer. He does this by sending the cargo details to the manufacturer, another distributor, or a middleman, who then ships the products to the client.
As it is practiced in the retail business, profit is gotten from the difference between the wholesale and retail values. However, some drop shippers earn an agreed share of the sales made by the middleman.
To start this business, all you need is to decide what you want to sell. Choose a platform on which you want to sell it, such as Shopify or other online stores. That’s all.
With drop shipping, you don’t even have to buy or touch the product upfront. The customers order and get the product directly from your online store.
READ MORE: 35 Lucrative Business Ideas for 2022 (+business plan)
#8. Cryptocurrency Trading
This is an internet-based medium of exchange that uses cryptographic functions to conduct financial transactions. Cryptocurrency trading is the act of speculating on cryptocurrency price movements. This can be done via a trading account or buying and selling the underlying coins via an exchange. If you like this, you have to be careful and have a high predicting sense when venturing into this business because it deals with the rise and fall of a currency.
#9. Thirst-Quenching
The business of quenching people’s thirst is quite underrated. In Nigeria today, with 10k, you can acquire soft drinks and bottled water in a variety for sale. You don’t need a physical space as you can partner with someone who already has a shop for this.
Guide for thirst-quenching
Soft drinks and bottled water come cheaper in bulk. Get a variety of drinks and position at a bus park or a busy road. Buy at wholesale price and sell at retail price for profit. With time, you should be able to get your own space and sell more.
READ MORE: Small Scale Business Ideas 2022
#10. Event Rentals
You can run an event equipment rental store. When people organize events, they need a place to rent equipment such as chairs or sound sets,s or generating sets. Your aim should be to provide these items for people for a fee. You can start by renting out plastic chairs and work your way up from there. With time, you will have enough to acquire more equipment.
#11. Poultry Business
Poultry farming is on the list because of its variety of raising numerous domestic birds, like chickens, turkeys, ducks, geese, etc., for eggs or meat. As a popular business in Africa, it is fast becoming an essential part of farming. In fact, it is one of the most profitable agricultural business ideas. It also doesn’t need immense capital to start out and can be done in the comfort of your home if you’ve got enough space to accommodate the number of birds you simply want. All you need to give them is adequate care. Start small with less than 10000 naira and gradually grow.
#12. Small Chops business
With as little as 10k, you can learn how to make small chops or get someone to make them for you. Finger foods are the go-to refreshment items for small-scale gatherings, so there is no doubt that it’s a good one. You can package samosas and spring rolls in this paper foil containers that are small and sell. You can make these small chops and even supply them to bodies that need them. In the quantity you make, you will definitely get profit on your money.
#13. Fish Farming
Fingerlings are much cheaper to acquire with 10k. You can alternatively choose to acquire egg-laying fishes and just groom them till they lay eggs for you. Either way, you can not spend more than 10k to start this business as long as you have some resources handy. Get this Fish farming business plan to get started. Fish is one of the best businesses you can start with that amount of money as long as you know how to be conservative with resources. There are videos on YouTube and tutorials on Google that can guide you.
#14. Soap making business
Liquid soap used for doing the dishes in every average Nigerian home is usually made by average Nigerians. You can learn from an expert and begin making these soaps for households. This business has a lot of potentials and requires very little start-up costs.
#15. Cake making business
As a cake maker, you’ll be specializing in producing and/or selling cakes. You may also sell cupcakes, muffins, sponges, as well as other baked goods that fall under the title of a cake. You will be able to bake cakes for weddings and other social functions when your business grows. The enlightening part is that you can start a small-scale cake-making business with 10k and grow from there.
READ MORE: Bakery business plan (Download + 3 years free financials)
#16. Ebook Publishing
With platforms like Amazon, you can self-publish an ebook. A little start-up capital may be needed, though, and you can sell for a stipulated amount. Your ebook can cover a number of themes and information that readers will hold valuable. This way, your sales are guaranteed.
#17. Resumé Writing
Curriculum Vitae creation is a business that can be started with as little as 10k. If you already have a computer or laptop, all you’ll need is internet access. With this, you can source for people in need of a good resume and write it for them. If a laptop is not available, you can use a smartphone for this purpose. There are countless people in need of standard resumes to impress one HR personnel or one employer. Your job will be to help these people vamp up their resumes. Sign up at Upwork or inklancers.com free of charge.
#18. Freelance Writing
As a freelance writer, you need to have diverse prior knowledge about a lot of things. Freelance writing entails you penning down articles, newsletters, general writeups, and even fiction for clients. This is one of the best businesses to start with 10k or even zero capital. Just have enough internet data for research accompanied by your writing skills, register at Upwork or inklancers.com
#19. Confectionery Sales
Confectionery like doughnuts, cupcakes, and minced pies are items that move really fast in the market. You can easily learn how to make them, and with 10k for starts, you can make so much more money.
READ MORE: Confectionery business plan (Download + 3 years free financials)
#20. Investments
This is generalized because there are a lot of investment options these days. One great thing is that most of these options are fully online. So you can choose to invest as little as 10k for a period of time and cash out your profits when they’re due. It’s all a matter of planning. If planned well, this will be one of the best businesses to start with 10k if planned well. Click on how to spot high yield investment to get started
READ MORE: Good Business Ideas 2022 (+ Easy Guide with Business Plan)
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What are the Most Successful Small Business to Start?
If you are looking for the most successful small businesses to lay your hands on then you can try these few ones below:
- Business Consulting
- IT Support
- Cleaning Services
- Accounting and Tax Preparation
- Auto Repair
- Real Estate
What’s the Easiest Business?
There are some easy businesses that require zero stress or attention and they include:
- Dog Walking.
- Selling on eBay.
- House Cleaning.
- Freelance Writing.
- Home Tutoring.
- Social Media Service.
- House Painting.
- Yoga Classes.
What Profitable Business can I Start with 5k?
What next can you do when you don’t have up to 10k to start a business? Can I tell you that you can also start a reasonable business with 5k? Some of these low-budgeted businesses include:
- Car Wash Services
- Auto Repair
- Food Truck Service
- Make and Sell a Product Online
- Electronics Repair Service
- Language Training Courses
- Virtual Assistant Services
What Should I Invest 20k in?
If you are working with a higher budget, you can also try your hands on these few successful investments listed below:
- Thrift business
- Fitness or physical therapy service
- Dropshipping
- Event planning and virtual event planning
- Commercial cleaning services
- Online consulting services
Which is the Cheapest Business to Start?
As an entrepreneur with clear intentions of starting a low-cost business, we got you covered. You can start with these business ideas we have listed below:
- Content creation
- Social media consultant
- Professional reviewer
- Personal or virtual assistant
- Event planning services
- Online courses and tutoring
- Errand/concierge service
What Hobby can I Turn into a Business?
If you don’t want to end up starting a business that will easily tire you out, it is advisable that you turn your hobby into a business. They include:
- Comedy
- Writing
- Illustration and design
- Cooking
- Photography
- DIY crafts
- Music
- Gardening
What can I sell to Earn Money?
Some of the commodities you can sell either offline or online includes the following below:
- Home décor items
- Holiday decorations
- Jewelry
- Your wedding dress
- Baby items
- Old clothes
- Sneakers
- Watches
Conclusion
With this list of best businesses you can start with as little as 10k, you will be able to make a good choice while selecting the one that works for you. Remember, you can still refer back to our business idea generator once you run out of business ideas.
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1 comment
This is informative, thank you!