Do you live in Nigeria and have 300K with you? Then believe us when we say that launching a small but profitable business can improve your life. Hence, to start a business with 300K in Nigeria can be a challenging yet exciting endeavor. Even with a low budget, it is feasible to develop a profitable venture via rigorous study, planning, and strategic decision-making.
This article discusses numerous business options that demand little initial investments, as well as advice on how to set up, market, and manage cash successfully. Let’s get started!
Research and Planning
To start a business with 300K in Nigeria, it is crucial, to begin with extensive research and planning. The first stage is to identify viable business ideas that match your talents, interests, and market demands. Conduct extensive market research and analysis to gain a better understanding of consumer preferences, competition, and potential profitability.
Best Business to Start with 300k in Nigeria
There are various profitable businesses that you can start with a small amount of money. The following are some of the businesses you may start in Nigeria with 300k:
#1. POS Business
The first successful and simple business you may start with N300,000 in Nigeria is to offer POS/E-payment services. This business plan is quite simple because all you need to do is apply for and obtain a POS machine, as well as find a small kiosk or a spot where you can start your POS business with only a chair, table, and umbrella.
POS business is incredibly successful, especially if you’re in a crowded region with no banks or ATMs nearby. With this business, you can earn up to N10,000 each day.
#2. Cooking Gas Business
With practically every household now using cooking gas for cooking, beginning the business is one that will grow if done properly.
All you need to start this business in Nigeria is 300k plus a gas tank, scale, dispenser, hosepipe, and other small yet required equipment.
If you have a small place in front of your house, you can start this business from home. Keep in mind that, due to some of the risks involved, you’ll need to study a little about this business before you get started.
#3. Phone accessories business
With the help of a phone accessory, you can start a business and make a lot of money. If you are in Lagos, the greatest place to acquire these products is in Alaba International Market, where they are sold in bulk. To start the business, you must have a physical store in a crowded region. Preferably on a main road. With a 300k budget, a small container is the best option.
After that, the next step is to go to Alaba and acquire some accessories. It’s always a good idea to start with a product that moves quickly, such (as an iPhone accessories charger, USB cord, and power bank).
#4. Pet Drink Business
Pet drinks are drinks in disposable plastic bottles; this is another extremely profitable and low-risk business. The first step in starting a business is to choose a location. After that, you’ll need to develop a way to make money. You should still have 200k after getting a shop, and if you already own a shop, you can spend the 300k to stock the shop and start the business.
#5. Reselling of sachet water
This is a business that only a few people are aware of; reselling sachet water is a very profitable business, especially if you have a targeted customer base. To get started in this business, you must first find a pure or sachets water manufacturer. This is where you buy the water after they have finished manufacturing it; you buy and pay in cash at a reduced price.
#6. Food Stuff Business
Selling food is another successful and simple business that anyone in Nigeria can start with N300,000 right now.
Beverages, rice, garri, and noodles are popular and profitable foods, particularly in student neighborhoods. So, with 300k, all you need is a shop, then find a food distributor, negotiate, and buy as many things as possible.
Once you have your acquired things in your shop, you can start selling them at retail pricing and make a good profit.
#7. Real Estate Business
Because Nigeria’s real estate market is gradually increasing, you can enter the industry with an N300,000 investment and make a good profit in no time. You can’t buy an entire property in Nigeria for 300,000 Naira, but you can get an apartment for that price or less and rent it out at a higher price.
For example, if you buy two apartments in Lagos’ Ajah neighborhood for 150K each, you may rent them out for 200K each, providing the real landlord 150K for each property and profiting by 100K.
This business idea is simple and profitable in Lagos, Abuja, and Port Harcourt, and it is repeatable. The more properties you obtain for others, the more money you will earn.
#8. Cosmetics Business
Opening a cosmetics shop where you’ll sell skincare items like cream, body oil, and tubes, as well as makeup products like powder, lipstick, eyelashes, and so on, is a very profitable business to start with 300K, especially for ladies in Nigeria.
This business necessitates a small shop and some knowledge of cosmetics products. Then you can find a supplier to buy such things in bulk and resale them in parts for a profit.
#9. Open A Boutique
Did you know that boutiques make enormous profits from sales of shirts, trousers, and shoes, making it one of the most profitable businesses in Nigeria to start with N300,000?
The most important thing you’ll need to start this business is a gorgeous shop in a busy region. Because of your budget, you don’t have to start with high-end products when your shop is ready. Instead, start with first-rate Okrika.
I know someone who runs this business; all he does is acquire first-quality Okrika and package them to seem new by spraying them with a beautiful aroma to smell new.
#10. Recharge Card Business
Selling recharge cards is another fantastic and fast-growing business that you may start in Nigeria with N300,000 or less in capital, regardless of your location. You would make a lot of money as a recharge card retailer because everyone needs them to make calls, send SMS, and subscribe to data plans.
You can also become a recharge card distributor with N300,000 if you discover a supplier who prints recharge cards, buy in bulk from them, and resell them wholesale and retail for profit.
#11. Open Football Viewing Center
Football viewing centers make a lot of money, especially on weekends, because most people like to watch football matches at viewing centers for entertainment value.
This business may be established with N300,000 or less because all you need is a large shop, benches, a wide-screen TV, a generator, and a cable (DSTV) with a subscription that allows you to access all football channels, and then you can start your business.
To grab people’s attention, you can start attracting customers by getting a board and writing the forthcoming football matches on it. As your center grows in popularity, you might be earning up to N30,000 per week in no time.
#12. Sales of Hair Extensions
Hair extension sales are another profitable business idea in Nigeria that you may start with N300,000 and scale. When you import those hair extensions, this business normally does well, and the wonderful part is that 300k is more than enough to begin started.
To start, discover and connect with other vendors, as they frequently band together to cover the cost of importation as well as the clearance charge.
When your product arrives in Nigeria, start by marketing it to friends and family. To be successful with this type of business, you’ll need to have social media profiles where you can advertise your products and maybe run paid ads to gain clients quickly.
#13. Production and Sales of Oven Dried Fish
If you reside in riverfront locations like Lokoja or have a spot (pond) where you can get fresh fish at low prices, producing and selling oven-dried fish is a very profitable business you may start with 300,000 Naira.
My family friend in Lokoja started this business a while ago and it is now profitable, bringing in roughly 200K per month.
All you need to start this business is an oven, fresh fish, and packaging materials, after which you can begin marketing and selling your products.
#14. Rental Service
Another profitable business you may start in Nigeria with 300,000 Naira is a rental service where you rent out tents, seats, tables, pots, coolers, and other event-related items to customers.
To thrive, this business demands less physical presence. It also necessitates patience, as it pays off in the long term by producing profits over time.
All you need to start this business is a set of canopies, a large number of seats, tables, and other event rental items. You can find clients by seeking event planners and offering your services at a reasonable price.
#15. Livestock Production
If you already have a job but are searching for a side hustle to start with 300K in Nigeria, livestock farming is a simple one to get started with.
Poultry farming is the most profitable of them since you may start it for N300,000 and benefit handsomely from the sale of birds and eggs.
Goat farming, snail farming, pig farming, fish farming, cattle, and other livestock production businesses are examples. They are all profitable and require less time than chicken farming, so they may be started as a side hustle.
#16. Food Crop Production
In general, farming is the oldest manner of producing money in Nigeria, and it is still the best way to make money with an N300,000 investment.
A corn, groundnut, or cassava plantation costs less than N100,000 per acre. As a result, with N300,000, you can cultivate up to 6 acres of food crops and earn up to 200% ROI in 3 to 12 months, depending on the type of crop you farm.
For example, if you cultivate maize or groundnuts, those crops typically mature in 90 to 100 days. That means you’ll start making money after three months.
All you need to start this business is farmland, plow it, then plant any crop of your choice, manage it, then sit back as those crops develop.
#17. Livestock Feed Production
Livestock feed production is a popular business that anyone with N300,000 can start in Nigeria. Because many people now practice animal production from home, this business is quite successful.
To get started with this business, you’ll need to first learn how to make those feeds by enrolling in a few weeks of training. Then, purchase all of the necessary components and start making cattle food.
To gain consumers, simply print some banners to market your business, and over time, people will start to know about it.
What Business Can I Do with 250k in Nigeria?
The following are some of the reasons why you might consider starting a business.
- Quail bird farming
- Mobile food vending
- Catering services (indoor/ outdoor)
- Mobile phone sales and repairs
- Rental services
- Food processing
- Frozen food sales
- Poultry farming.
What Business Can 500K Start in Nigeria?
Here are the top profitable businesses in Nigeria to start with 500k:
- POS Agent Business
- Beauty Salon Business
- Barbing Salon Business
- Selling Fashion Items
- Logistics & Courier Business
- Block Moulding Business
- Food Business
- Printing Business.
Which Small Business is Profitable in Nigeria?
Many people in Nigeria do not have the time or equipment to do their laundry, hence laundry and dry cleaning services are in high demand. Starting a laundry and dry cleaning service can be a rewarding business venture, especially in densely populated areas.
What are the 4 Things to Start a Business?
Considering Starting a Business? Do the following four things first:
- Make sensible financial decisions.
- Create a thorough business plan.
- Seek assistance from a strong network of advisors.
- Recognize your own abilities and capabilities.
What is the Smartest Thing to do with 200k?
The ideal method to invest N200,000 is to diversify it over a variety of financial assets, such as stocks, index funds, and real estate, as well as more conservative options like bonds or CDs.
Conclusion
With so many businesses available, it might be tough to choose the right one for you after you’ve raised your capital and are ready to go.
With this post, I feel you are now ready to start any of the businesses listed above, as they are all profitable and simple to start regardless of your location or gender.
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