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10 Cheapest Business Ideas To Start In Nigeria

Cheapest Business Ideas To Start

Nigeria’s heartbeat is its entrepreneurial spirit. In a country with endless opportunities, the concept of entrepreneurship is not just a path to personal success; it’s a necessity for national progress. We will be exploring the 10 cheapest business ideas you can start to contribute to the national growth of Nigeria.

With the right low-capital investment ideas, anyone can contribute to Nigeria’s economic growth and transform their life story.

You can begin a business in Nigeria without spending a lot of money by investing in one of the cheapest business ideas I will be sharing with you. Some of the best business ideas are the ones that don’t cost much to start but can make you a lot of money. These ideas are more than just dreams. They’re real businesses that you can start with just a little bit of cash.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

In this article, we’re going to show you the cheapest business ideas you can start in Nigeria. If you want to be an entrepreneur, this is like a map to find that perfect business idea that you’re excited about, that people need, and that won’t break the bank.

Let’s look at these cheapest business ideas. Get ready to start your business. We are here to guide you every step of the way through the Start Your Business in 30 Days program. The program gets you from idea to starting your business in 30 days. Click to learn more and enrol.

Understand the Nigerian Market

Before we explore the business ideas, you need to understand the Nigerian market.

Market Trends and Consumer Behavior

Knowing what sells is key when you’re looking at the cheapest business ideas to start in Nigeria.

Look around – what are people buying? What do they need every day? Things like food, clothing, and phone accessories always get attention. It’s smart to choose a business that matches these needs.

It’s all about what people want. In Nigeria, people love value for their money. They look for quality and good prices. If you’re starting small, think of ways to give them that. Maybe you can sell products from home or deliver services they can’t get easily elsewhere.

The role of technology and innovation in starting a business with low investment.

These days, you can do a lot with just your phone and a good idea. Selling online is one of the cheapest ways to start. You can reach customers all over Nigeria without a big shop. Social media, online marketplaces – they’re all open for business, 24/7.

You don’t need to invent something new; just make it better or easier. Even with a small shop, you can stand out with great service or unique products. And with tech, you can keep costs down. Use apps to track sales or offer services like home delivery to get ahead.

In short, when you understand the Nigerian market, you know that the cheapest business ideas can get you to empire status. Find out what people want, make it easy for them to buy, and use technology to keep your costs low. That’s how you start smart in Nigeria.

Cheapest Business Ideas To Start in Nigeria.

Here are the 10 cheapest business ideas you can start in Nigeria.

Business Idea #1: Dropshipping

What is Dropshipping?

Dropshipping is a smart way to sell products online without needing a store or warehouse. You just set up an online shop, find customers, and take orders. Then, a supplier sends the products directly to your customers. You never see or touch the inventory, which keeps things simple and cheap.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

How to Start the Dropshipping Business with Minimal Investment

Getting into dropshipping in Nigeria doesn’t need much money. You’ll need a bit of cash for setting up your website and for marketing to attract customers. With dropshipping, you pay for the products only after you make a sale, so there’s less risk. This is how you start.

Find What Sells

Start by choosing products that people want to buy. Look for things that are hard to find in local stores or that can be sold at a better price online. Gadgets, fashion items, and home accessories are hot items.

Build Your Online Store

You can use platforms like Shopify or WooCommerce to create your store. They’re user-friendly and you can pick out a design that makes your shop look good without being a tech whiz.

Reach Your Customers

Use social media to tell everyone about your shop. Post engaging content that shows off your products. You can also use online ads to reach more people. The key is to get your products in front of the people who will love them.

Keep It Simple

Remember, keep things easy to understand. Use clear pictures and descriptions for your products. Tell your customers how they’ll benefit from each item and why they’re getting a great deal.

In short, dropshipping is one of the cheapest business ideas to start in Nigeria. It lets you sell cool products online with a small start-up cost. Get creative, pick products people love, and show them why they need them. That’s how you make a splash in the online business world!

Business Idea #2: Home Tutoring Services

In Nigeria, parents want their kids to get the best education. This is where home tutoring steps in. It’s one of the cheapest business ideas to start and is in high demand.

Personal tutoring can help students understand better, get higher grades, and feel more confident.

How to Start a Home Tutoring Service

Your First Steps

To start a home tutoring service, you need knowledge in a subject and a way to spread the word. Let’s walk through the beginning steps.

Know Your Strength

What are you good at? Math? English? Science? Pick a subject you can teach well. If you’re great with kids and know your stuff, you’re already on the right track.

Talk About It

Tell people what you’re doing. Use social media, tell your friends, and hand out flyers in your neighbourhood. Get the word out that you’re ready to help students learn.

Get Organized

Decide where you’ll teach. Will you go to students’ homes, or will they come to yours? Make sure you have a quiet and comfortable place for learning.

Set Your Prices

Think about how much you’ll charge. Keep it fair for the value you’re giving. Remember, your prices can always go up as you get more popular.

Plan Your Lessons

Be ready with a lesson plan for each session. Have materials and exercises to make learning active and fun.

Stay in Touch with Parents

Keep parents updated on their child’s progress. They’ll love knowing how their kids are doing and that they’re getting their money’s worth.

In a nutshell, starting a home tutoring service is a great way to enter the educational services sector in Nigeria. It costs very little to begin, and the rewards – both in earnings and in helping others – can be huge. Get your lesson plan ready, and start teaching the future of Nigeria!

Business Idea #3: Mobile Food Services

Everyone needs to eat, right? In Nigeria, mobile food vendors are loved because they’re convenient. People are busy. They want quick, tasty meals without waiting. That’s why food trucks, street carts, and pop-up stands are becoming so popular.

How to Start a Mobile Food Business in Nigeria

What’s great about a mobile food business is that it doesn’t cost much to start. Here’s what you need to know.

Get Your Gear

You’ll need a cart or a small truck. It can be second-hand, as long as it’s clean and works well. Next, get the basic cooking equipment. You don’t need a lot—just what’s necessary to make your dishes.

Pick a Spot

Location is key. Find a busy street corner or a spot near offices. You want to be where the hungry crowds are, especially at breakfast and lunchtime.

Choose Your Menu

Keep it simple. One delicious dish can be enough to start. Make it well, and make it fast. Think of local favourites that you can cook easily.

Talk Money

Think about how much you’ll charge. Keep your prices friendly for daily customers. After all, good food at a good price is hard to pass up.

Spread the Word

Use social media to tell people where you’ll be and what’s on the menu. A catchy post can bring in crowds.

Keep It Tidy

Keep your cooking space clean and your service friendly. A smile goes a long way.

Serve Fast

When customers come, serve them quickly. They’ll remember the good service.

With these tips, mobile food services can be one of the cheapest and most fun business ideas to start in Nigeria. It’s a chance to share your cooking with the world and make a living, one delicious meal at a time. Get your stove fired up and hit the streets!

Business Idea #4: Digital Marketing Services

Nowadays, if a business isn’t online, it’s like it doesn’t exist. That’s where digital marketing comes in. In Nigeria, as more businesses go online, they need help to get noticed. That’s why digital marketing services are in demand.

How to Set Up a Digital Marketing Service

You can start a digital marketing agency right from your home. Here’s how to get the ball rolling.

Learn the Ropes

First, understand digital marketing. There are tons of free resources online that can teach you about SEO, social media, email marketing, and more.

Offer Your Skills

Got a knack for writing? Are you a social media wizard? Use what you’re good at. Start with services you can manage and then grow from there.

Find Clients

Start with small businesses around you. Offer to help them get online and grow their audience. Once you have a few success stories, word will spread.

Build a Portfolio

Show off your work. A good portfolio can win over clients who are on the fence.

Stay on Trend

Digital marketing changes fast. Keep learning and stay up-to-date with the latest trends.

Be Their Guide

Many business owners don’t get digital marketing. Be the one who makes it simple for them.

Starting a digital marketing agency is one of the cheapest business ideas to start in Nigeria, especially if you use your skills and learn as you go. It’s all about helping businesses shine online. So, get your laptop ready, and let’s connect Nigeria to the world, one click at a time!

Business Idea #5: Agricultural Produce Sales

Nigeria is blessed with fertile land and diverse climates, making it perfect for growing a variety of crops. From the bustling yam markets of Benue to the cocoa farms in Ondo, agriculture is a way of life here. It’s not just about the food; it’s our culture and economy.

How to Start an Agricultural Produce Sales Business

Selling agricultural produce is one of the cheapest business ideas to start in Nigeria. Here’s how you can get involved.

Start Small

You don’t need to own a huge farm. Start by selling produce from small local farmers. Build relationships with them and help them reach more customers.

Know Your Market

Find out what people in your area want to eat. Are tomatoes a hit? Does everyone love plantains? Sell what’s in demand.

Get the Word Out

Use word-of-mouth, social media, and local ads to let people know you’ve got fresh, tasty produce.

Keep It Fresh

Quality is everything. Make sure what you’re selling is the best. Fresh and tasty will always beat out the competition.

Be Fair with Prices

Offer good value. If your prices are fair and your produce is top-notch, customers will keep coming back.

Consider Delivery

If you can, offer to deliver. People love convenience, especially when it comes to their groceries.

In the end, selling agricultural produce can grow from a seedling of an idea into a thriving business. It’s about finding what people need, providing the best, and staying true to fair prices. Roll up your sleeves and let’s dig into the agricultural business in Nigeria!

Business Idea #6: Handmade Crafts and Artisanal Goods

Nigerian hands weave magic into crafts. The demand for unique, locally-made crafts and artisanal goods is on the rise, not just at home but globally. These items carry the essence of our culture, from handwoven baskets to beaded jewellery.

How to Start a Handmade Crafts and Artisanal Goods

Starting a handmade goods business is one of the cheapest business ideas to start in Nigeria. Here’s how to turn your craft into cash.

Identify Your Craft

What can you make? Maybe you’re skilled at weaving, or you have a knack for making beautiful pottery. Find your strength and start from there.

Create a Sample Collection

Make a few pieces to show the quality of your work. These will be your ambassadors.

Set Up a Sales Platform

You don’t need a physical shop. Sell online. Platforms like Etsy or local online marketplaces are great places to start.

Tell Your Story

People love a story behind what they buy. Share yours. Why do you make what you make? What’s special about it?

Price It Right

Work out your costs and then set a price that’s fair for both you and your customers.

Go to Markets

Artisanal markets and craft fairs are perfect for getting your goods seen. Set up a stall and show off your work.

Use Social Media

Platforms like Instagram are visual. They’re perfect for showing off handmade goods. Post pictures and stories about your crafts.

In a nutshell, the market for handmade crafts in Nigeria is ripe and ready. With creativity and determination, your craft business can flourish. It’s about showcasing the beauty of Nigerian culture through your work.

Business Idea #7: Cleaning Services

Clean spaces equal to clear minds. In Nigeria’s bustling cities, life moves fast and keeping homes and offices clean can be a big task. That’s why there’s a growing need for professional cleaning services. It’s not just about being neat; it’s about health and making a good impression.

How to Start a Cleaning Services Business

You can start a cleaning business with little money. Here’s your step-by-step guide.

Start at Home

You likely already have the basic cleaning supplies. Use what you have to begin. As you make money, you can buy more.

Choose Your Market

Do you want to clean homes, offices, or maybe both? Decide who your customers are and what they need.

Spread the Word

Tell your neighbours and friends. Use social media to reach out to your community. Word-of-mouth can be powerful.

Set Fair Prices

Find out what others are charging and set competitive rates. Be reasonable, but remember your hard work has value.

Offer Great Service

Be reliable and thorough. Happy customers become repeat customers and will tell others about you.

Stay Organized

Keep a schedule. Be on time. Track your appointments and your finances. Keep it professional.

Grow Your Business

Once you start making a profit, consider hiring help. This can expand your reach and your income.

Starting a cleaning service is one of the cheapest business ideas to start in Nigeria. It’s a service everyone needs, and if you do it well, you’ll always have work.

Business Idea #8: Personal Fitness Training

Remember, health is wealth. More and more Nigerians are hopping on the fitness train for a healthier lifestyle. Busy professionals, celebrities, and even stay-at-home parents are looking for ways to stay fit. This health wave has opened up a huge opportunity for personal fitness trainers.

How to Start a Personal Fitness Training Business

You can kick off a personal training business without draining your wallet. Let’s break down the steps.

Get Certified

It helps to have a fitness training certification. This gives you credibility and teaches you to train others safely and effectively.

Find Your Niche

Who do you want to train? Working professionals, young moms, or maybe the elderly? Choose your audience and learn what workouts suit them best.

Use What You Have

You can start by using public spaces like parks for training sessions. No gym required.

Spread the Word

Talk about your services on social media. Before and after photos of your clients (with their permission) can be great for promotion.

Set Your Rates

Research what other trainers charge. Then, set a price that’s fair for your clients and reflects your skill level.

Deliver Results

Your clients want to see progress. Be the trainer who motivates and gets them the results they’re after.

Keep Learning

Fitness trends change. Keep up with them and bring fresh ideas to your sessions.

As a personal fitness trainer, you’re selling more than just exercise – you’re selling a lifestyle. And in Nigeria, where the fitness industry is booming, it’s one of the cheapest business ideas to start.

Business Idea #9: Event Planning Services

Nigeria is a country rich in celebrations. From weddings to birthdays, to festivals, there’s always a cause for a joyful gathering. The love for elaborate and lively events makes event planning a sought-after service.

How to Start Event Planning Services Business

You can start an event planning business with minimal funds. Here’s the blueprint to launch your service.

Skill Up

Learn the ropes. You can find free online courses that teach the basics of event planning.

Start with What You Know

Begin by organizing small events for friends or family. Use these as case studies to show potential clients.

Network, Network, Network

Make connections with vendors like decorators, caterers, and photographers. You can negotiate discounts and package deals.

Get the Tools

You’ll need a planner, a phone, and a computer. These basics will help you stay organized and reachable.

Spread the Word

Create a catchy name for your business and make your presence known on social media.

Be Creative

Offer unique themes and ideas. Show that you can create memorable events, not just organize them.

Offer Excellent Service

Be detail-oriented and calm under pressure. Your reputation as a reliable planner will grow with every successful event.

Event planning in Nigeria is not just about organizing; it’s about creating moments that last a lifetime. It’s one of the cheapest business ideas to start, and it can bring a lot of happiness, to you and your clients. Let’s get the party started!

Business Idea #10: Tech Support Services

In Nigeria’s fast-paced, tech-driven world, everyone relies on gadgets and computers. But when devices go haywire, not everyone can fix them. That’s where a tech support business comes in, meeting a critical need in our digital society.

How to Start a Tech Support Services Business

Believe it or not, you can start a tech support service with just your know-how and a few tools. Here’s how to plug in.

Know Your Stuff

Make sure you’re up to speed with common tech issues and how to solve them. There are plenty of free online resources to sharpen your skills.

Start Small

Offer to fix devices for family and friends. Word of mouth can be your best advertising.

Invest in Basics

A good set of tools doesn’t have to cost a lot. Start with the essentials.

Choose a Specialty

Whether it’s phones, laptops, or software, find your niche. Specializing can make you the go-to person for those specific problems.

Get Online

Set up a website or a social media page where people can find you and learn about your services.

Offer Remote Help

Sometimes, you can solve problems without even leaving your house. Remote support can expand your reach.

Stay Updated

Technology changes fast. Keep learning about new devices and software to stay relevant.

Providing tech support is one of the cheapest business ideas to start in Nigeria. It is about using your skills to help people stay connected.

Starting Your Business in Nigeria: Legal and Administrative Requirements

Starting a business in Nigeria is an exciting venture, but you need to get the paperwork right. At ReDahlia, through all our services, we ensure that you can start, set up and scale your business. Get in touch with us today.

Here’s what you need to know to make your business official.

Understand the Requirements

Before you do anything, find out what the law requires. You’ll likely need to register your business name and get the necessary permits.

Business Registration

Go to the Corporate Affairs Commission (CAC) to register your business. You can choose from registering as a sole proprietorship, partnership, or limited liability company. Here are everything you need to know about registering your business in Nigeria.

Open a Bank Account

Once you have your business name registered, open a corporate bank account. This will help you manage your finances professionally.

Tax Registration

Get registered with the Federal Inland Revenue Service (FIRS). This is where you’ll get your Tax Identification Number (TIN). Here is everything you need to know about TIN.

Local Permits

Depending on your business, you might need specific local permits. Check with your local government council.

Keep Records

From day one, keep clear records of everything. It’s not just good practice; it’s also your legal responsibility.

Seek Professional Advice

If it feels overwhelming, get help. A lawyer or an accountant can be worth their weight in gold. And you can always talk to us at ReDahlia – 08188122223 or 08038874148.

Starting a business in Nigeria takes some effort legally and administratively, but it’s not as scary as it sounds. Follow these steps, stay organized, and you’ll have a strong foundation for your business. You can always work with ReDahlia to make your journey seamless. Call today- 08038874148 or 08188122223.

Remember, the cheapest business ideas to start in Nigeria still need the right legal backing to thrive. Let’s help you get started – the right way!

Conclusion

Taking the leap into entrepreneurship is exciting. Today, Nigeria offers a playground of opportunities, especially for those looking to start without a heavy financial burden.

Remember, the most expensive resource you will invest is not money—it’s your passion, time, and creativity.

We’ve explored the top 10 cheapest business ideas to start in Nigeria—ranging from dropshipping to tech support, from mobile food services to home tutoring. Each one holds the promise of growth and fulfilment. Which resonates with you? Which one sparks that fire inside? Share with me in the comments.

Your Next Move

If you’re ready to turn your business idea into reality, but you need a little guidance, ReDahlia is here for you. We provide the tools, mentorship, and resources to help you every step of the way through our program- Start Your Business in 30 Days Program.

The program is tailored to empower you with knowledge, from business planning to marketing strategies. At the end of the program, you will start and set up your business.

Let’s make those business goals a reality together.

How We Can Help You Register Your Business And Comply With Taxes Monthly

Send us a message on WhatsApp- 08188122223 or 08038874148 to help you with your business registration and tax compliance.

Our Essential Compliance Service Covers:

Initial Registration for VAT/TIN Certificate: Complete facilitation of your initial VAT/TIN registration process with FIRS and LIRS.

 Initial Registration for PAYE, Business Premises, and Development Levy.

 Monthly PAYE: Computation of PAYE deductible, remittance of PAYE, and filing of monthly returns.

Monthly VAT: Computation of VAT payable, remittance of VAT, and filing of monthly returns, taking cognizance of applicable tax laws.

Annual Business Premises and Development Levy Renewal

On-Demand Premium Services

Should your business require our ProMAX Compliance Service, which includes account preparation, auditing, and TCC filing, please contact us directly. This premium service is tailored to your specific needs and billed upon request.

Why Choose Our Compliance Services?

Peace of Mind: With our expertise, you can rest assured that your compliance needs are in capable hands.

Cost Efficiency: Save on potential non-compliance penalties with our cost-effective services.

Expert Guidance: Our seasoned professionals keep your business compliant amidst regulatory changes.

Get in touch today by clicking the Contact Us page or sending us a message on WhatsApp: 08038874148 or 08188122223.

How I Can Work with You to Start And Grow Your Business

If you want to work with me to start a profitable and sustainable business, then enrol in the Start Your Business in 30 Days Program. I will take you from idea to starting your business in 30 days. At the end of the program, you will get a registered business with CAC, logo and brand assets, admin set-up, one-on-one consulting sessions and more. Click here to enrol.

Every week, I teach practical business lessons that have helped thousands of entrepreneurs start and grow their businesses. If you want to benefit from my teachings, click to sign up for the weekly business lesson here.

Promote your business to over 8,600 business owners who are subscribed to my newsletter by sponsoring my newsletter. Get in touch- Ebere@entrepreneurs.ng or 08038874148.

I am an internationally trained award-winning entrepreneur running three profitable businesses and a member of the prestigious Forbes Coaches Council.

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