10 Good Businesses You Can Start with 100K – 500k in Nigeria

Starting a business in Nigeria with 100,000 or 500,000 Naira is entirely possible, given the country’s entrepreneurial spirit and growing market opportunities. Here’s a detailed guide to ten profitable businesses that fit within this budget, highlighting potential earnings and steps to get started.

1. Popcorn Business

Popcorn business is a thriving venture, especially in areas with high foot traffic like schools, cinemas, and markets. With a small investment, you can purchase a popcorn machine and necessary ingredients such as corn, sugar, salt, and butter.

The key to success in this business is offering fresh, tasty popcorn at competitive prices. Packaging also plays a vital role; using branded or appealing wrappers can attract more customers. By setting up in a strategic location and maintaining consistent quality, you can build a loyal customer base. Additionally, consider adding flavors like caramel or cheese for higher profit margins.

• Initial Investment: ₦50,000 – ₦80,000
• Requirements: Popcorn machine (₦40,000), corn, sugar, salt, butter, nylon packaging.
• Profit Potential: A bag of corn can yield profits up to ₦5,000 daily.
• Steps to Start:
  1. Purchase a durable popcorn machine.
  2. Source affordable raw materials in bulk.
  3. Set up a sales spot near schools, markets, or busy streets.

2. Tailoring Services

Tailoring is a lucrative business that meets a constant demand for customized clothing in Nigeria. With as little as ₦60,000, you can start by purchasing a sewing machine, fabric, and essential tools. You don’t need a shop immediately; operating from home can save costs while you grow your client base.

Social media platforms like Instagram and Facebook can help showcase your designs. Tailoring not only involves sewing but also repairs and alterations, which can generate quick income. As you establish yourself, you can expand by learning advanced sewing techniques or even hiring apprentices to scale your business.

• Initial Investment: ₦60,000 – ₦100,000
• Requirements: Sewing machine (₦40,000), threads, fabrics, scissors, and rent (optional).
• Profit Potential: Earnings of ₦5,000 – ₦20,000 per outfit, depending on complexity.
• Steps to Start:
  1. Acquire basic tailoring skills (if needed).
  2. Market your services through social media and word of mouth.
  3. Start with repairs and alterations to build a customer base.

3. Mobile Phone Accessories Business

Demand for mobile phone accessories is evergreen due to the widespread use of smartphones in Nigeria. Starting this business requires sourcing popular items like phone cases, chargers, earphones, and screen protectors from wholesalers at low costs.

You can sell these products in kiosks, at markets, or online. Focus on accessories for trending phone models, as they tend to sell faster. Offering warranties or discounts for bulk purchases can help attract loyal customers. With good profit margins, you can reinvest earnings to expand your inventory and include items like power banks and Bluetooth speakers for greater profitability.

• Initial Investment: ₦70,000 – ₦100,000
• Requirements: Earphones, phone cases, chargers, screen guards.
• Profit Potential: Margins range from 50% to 200% on accessories.
• Steps to Start:
  1. Identify high-demand accessories.
  2. Partner with wholesalers in Lagos markets like Computer Village.
  3. Sell via online platforms or kiosks.

4. Liquid Soap Production

Liquid soap production is a low-cost business with high returns. With just ₦20,000 to ₦40,000, you can purchase chemicals, learn the production process, and start creating soap in small quantities. This business is ideal because of the growing need for hygiene and cleanliness in homes, schools, and offices.

Packaging is crucial, so invest in attractive containers to stand out. Attend local workshops or watch tutorials to perfect your formula. As your reputation grows, approach businesses and retail stores for bulk supply deals. Expanding into other cleaning products like disinfectants and detergents can further boost your earnings.

• Initial Investment: ₦20,000 – ₦40,000
• Requirements: Training (₦5,000), chemicals, packaging containers.
• Profit Potential: Monthly income of ₦50,000 – ₦100,000 from bulk sales.
• Steps to Start:
  1. Learn the production process.
  2. Produce small batches to test quality.
  3. Market to households, shops, and offices.

5. Food Vendor (Small-scale Catering)

Food vending business is a rewarding option due to the constant demand for quick, affordable meals. You can specialize in breakfast items like akara and pap or lunch packs with jollof rice and fried chicken. A small initial investment can cover utensils, ingredients, and packaging.

Consistency in taste and hygiene will help you retain customers. Target busy locations such as office complexes, construction sites, or marketplaces. You can also offer delivery services for an additional fee. As the business grows, consider diversifying your menu to include snacks or beverages, increasing your appeal to a wider audience.

• Initial Investment: ₦30,000 – ₦100,000
• Requirements: Cooking utensils, raw foodstuffs, packaging materials.
• Profit Potential: Daily profits of ₦3,000 – ₦7,000.
• Steps to Start:
  1. Decide on a niche (e.g., breakfast, lunch packs).
  2. Set up near offices, schools, or markets.
  3. Focus on quality and affordable pricing.

6. Poultry Farming (Small-scale)

Small-scale poultry farming is a profitable venture that requires a manageable setup. You can start with 50 broiler chicks, which are ready for sale within 6 to 8 weeks. Allocate funds for feed, vaccination, and housing to ensure healthy growth.

This business thrives during festive periods like Christmas when demand for poultry products spikes. To reduce costs, you can use locally sourced feed or produce some feed yourself. Marketing is essential; reach out to restaurants, markets, and individuals in your area. Over time, you can reinvest profits to increase the number of birds or diversify into egg production.

• Initial Investment: ₦50,000 – ₦100,000
• Requirements: Day-old chicks, feed, vaccination, and cages.
• Profit Potential: Up to ₦150,000 after 6 weeks (for broilers).
• Steps to Start:
  1. Start with 50 chicks.
  2. Provide proper feeding and vaccination.
  3. Sell during festive seasons for higher profits.

7. Recharge Card Printing and Sales

Recharge card business is straightforward and offers steady income. You can buy bulk airtime credits from distributors and print recharge cards for resale. This business works best in areas with limited access to online recharge platforms.

With an initial investment of ₦50,000 to ₦80,000, you can secure the necessary printing equipment and airtime stock. Adding mobile data subscriptions or cable TV recharge services can diversify your offerings. Consider collaborating with vendors or hawkers to reach a broader market. As you gain experience, transitioning to a full-scale electronic distribution system can further increase your revenue streams.

• Initial Investment: ₦50,000 – ₦80,000
• Requirements: Printing device, bulk airtime purchase.
• Profit Potential: Earn ₦2 – ₦10 per recharge card sold, with potential daily earnings of ₦3,000 – ₦10,000.
• Steps to Start:
  1. Register with a reliable bulk airtime distributor.
  2. Print and sell cards in high-traffic areas.
  3. Expand to include mobile data plans.

8. Small-Scale Fish Farming

Fish farming is a viable agribusiness in Nigeria, especially with the growing demand for catfish and tilapia. With 100,000 Naira, you can set up a small pond or use containers for an affordable alternative. Purchase fingerlings, feed, and essential equipment for maintaining the pond. Proper care and regular feeding are crucial for healthy growth.

Marketing can involve selling directly to consumers, restaurants, or at local markets. To enhance profitability, you can explore smoked fish production. Fish farming offers consistent returns, and scaling up over time by increasing the stock or adding new species can significantly boost your income.

• Initial Investment: ₦70,000 – ₦100,000
• Requirements: Fingerlings, fish pond setup, feed.
• Profit Potential: ₦150,000 – ₦300,000 after 4-6 months.
• Steps to Start:
  1. Rent or build a small pond.
  2. Start with catfish or tilapia.
  3. Ensure proper feeding and pond maintenance.

9. Graphic Design and Printing

Graphic design is an in-demand service, making it a profitable business with low startup costs. With a laptop, basic design software, and an internet connection, you can create stunning designs for flyers, business cards, banners, and logos.

Invest in online courses or free tutorials to sharpen your skills. Offering quick turnaround times and competitive pricing can set you apart in this field. Consider partnering with print shops to provide printing services for clients who prefer a one-stop solution. Social media platforms like Instagram and LinkedIn can help showcase your portfolio and attract a broader audience.

• Initial Investment: ₦40,000 – ₦80,000
• Requirements: Laptop, design software, printer (optional).
• Profit Potential: ₦10,000 – ₦50,000 per project.
• Steps to Start:
  1. Learn basic graphic design skills.
  2. Offer services for flyers, logos, and business cards.
  3. Leverage social media for marketing.

10. Mini Importation Business

Mini importation is a lucrative online business where you buy products at low prices from international suppliers and sell them locally for profit. Focus on lightweight and high-demand items like fashion accessories, gadgets, or beauty products to minimize shipping costs.

With platforms like AliExpress or Alibaba, you can start with as little as ₦50,000. Build a strong online presence through social media or e-commerce platforms like Jumia and Konga. Research trending products and seasonal needs to maximize sales. Offering doorstep delivery or cash-on-delivery services can attract more customers and build trust in your brand.

• Initial Investment: ₦50,000 – ₦100,000
• Requirements: Smartphone, internet access, importation platform account.
• Profit Potential: Up to 200% profit margins.
• Steps to Start:
  1. Source affordable items on platforms like AliExpress.
  2. Import high-demand products like gadgets, fashion items.
  3. Sell online or through local networks.

Final Thoughts

Starting a business with ₦100,000 in Nigeria is a realistic goal that requires proper planning and dedication. Select a business idea that aligns with your skills and interests to increase your chances of success. Over time, reinvest your profits to scale and explore additional opportunities. Which of these ideas interests you most? Let me know for further tips.