What business can I start with 10k in Nigeria? I have heard that question over and over again, so today I have decided to share a valuable answer.
Starting a business in Nigeria is sometimes a very difficult venture. From governmental policies to the huge startup costs needed to establish a lot of businesses, it sometimes becomes a herculean task for people in the low earning bracket to start their own businesses. Many a time, there are students, young graduates, and low-paid looking for businesses that they can start with as little as 10k in Nigeria but they find those type of businesses difficult to come by because of the value of the Naira
Consequently, I saw this as a personal quest to help find businesses that Nigerians can start for as low as 10k and share with our teeming readers so that they can take charge of their future and add value to themselves and society at large. Here are 10 amazing businesses that you can start with 10,000 Naira in Nigeria.
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10 Businesses You Can Start With 10,000 Naira In Nigeria.
Small Chops Business
Small chops business is a popular food business idea that can fetch you a responsible income if done properly. Nigerians generally like to consume small chops at events, but do you know that you can sell small chops on a regular basis and still make considerable income?
I remember that we had a small chops seller on my former street, and believe me when I say this guy makes a lot of sales every day. There are strategies that you can use to make your small chops business successful. But, before we talk about that, let’s outline what you need to start a small chops business and the startup cost.
What Do You Need To Start A Small Chops Business?
- Frying pans
- Egg mixer
- Flat wooden spatula
- Measuring cups
- Turning stick
Ordinarily, you will already have most of the equipment that you need to start a small chops business. The few ones that you will need like the egg mixer and maybe frying pan, you can get for under 2,000 Naira.
Cost Of Starting A Small Chops Business In Nigeria
Most of the equipment you will need to start a small chops business are things that you already have in your kitchen. So, the idea is to start small and scale as demand gets bigger. Therefore, you can use the full startup cost of 10,000 Naira to get the materials you need to make your small chops. Here is a list of the popular small chops that sell well in Nigeria:
- Mini Cakes
- Banana Puff Puff
- Mini Grilled chicken
- Asun (smoked spicy goat meat)
- Mini Puff Puff
- Gizdodo/Dodo Gizzards (Plantain & Gizzards)
- Meat stuffed yam (potato) balls
- Mini Sausage Rolls
- Peppered Ponmo (Cow leather)
- Peppered snails
- Spring rolls
- Battered Plantain
- Mini Donuts
Branding Partnership Business
A fantastic business that you can start with 10k in Nigeria is a branding business. The branding business in Nigeria involves you getting clients that want to print and brand their products, then helping them execute it.
Many businesses often brand items such as mugs, notebooks, fez caps, t-shirts, and the likes. Imagine that you get one of those contracts and execute them- you will be making a handsome profit from that deal.
And, do you know what is more amazing? You do not need to know how to print yourself to start this business. All you need to do is to get trustworthy contacts at printing hubs like Somolu, Mushin, and Ogba in Lagos, then source for jobs and get them to help you fulfill those jobs.
To be successful with this business, please make sure that you have a price list from your printing partners, then, add a small percentage as your gain before sharing the price with your clients.
How Much Does It Take To Start A Branding Partnership Business
You do not really need a startup cost to start a branding partnership business. However, if you want to be trusted, start by designing a logo, invoice, and receipts for your business. The cost of putting all that together is less than 10,000 Naira.
Perfume Oil Business
Selling perfume oils is another fantastic business idea that you can start for 10,000 Naira or less in Nigeria. Many Nigerians like to smell well with nice scents and perfumes from top designers around the world. But since a majority of people cannot afford high-end perfumes, they turn to perfume oils that offer the same scents.
You can take advantage of this market and make good money in the process.
How To Start Perfume Oil Business
This is how you can start a perfume oil business with less than 10k in Nigeria:
Step 1: Search for a perfume oil wholesaler
Step 2: Negotiate to buy a bundle of perfume oil (one or two dozens)
With a simple search on Instagram, I found a perfume oil wholesaler who was looking to sell me 15 pieces of 1ml perfume oil bottles at 6,750. That is a great deal to start with.
Step 3: Resell the perfume at retail price and make your profit
After buying the perfumes, the next step is to resell and make your profit. So, let’s imagine that I go ahead to buy the 15 pieces of 1ml bottles at 6,750 Naira, then I resell each bottle at 1,000 Naira, I will be making a total sales of 15,000 Naira. That leaves me with a profit of 8,250 Naira- not a bad deal at all!
Become A Second-hand Clothes Seller
Another business that you can start with 10,000 Naira in Nigeria is small-scale second-hand clothes sales. Here’s how the business works:
You go to a local market where they sell second-hand clothes. With your startup capital of 10,000 Naira, you can buy about 8-10 first-grade clothes. After that, you can market to your family and friends, then sell the clothes anywhere between 1,500 Naira to 2,500 Naira depending on how good the clothes look.
To make your business stand out, you should wash, starch, iron, and package the clothes to raise their value when you are selling. With this simple business, you could make as much as 5,000 Naira profit for every stock you buy.
Start A Small Scale Laundry Service From The Comfort Of Your Home
This one is different from all the businesses that I have mentioned on this list. This is a business that requires determination, commitment, and doggedness. If you have all of these attributes, you do not need startup capital to begin operations. All you need to do is identify the highbrow areas in your community, approach the people living there, and offer them your services.
Now, you have to realise that most of these people might not trust you right away. Nonetheless, if you are honest with them, they will open up to you and start giving you clothes to wash. Depending on the customer, you can charge per cloth washed or you can decide to charge per appearance. Whichever route you decide to go with this business, make sure that you are honest, and do quality work because that’s the only way you will get referrals.
Become A Data Reseller
This is a great business to start because you will always get customers. The cost of data subscriptions has been an issue for many Nigerians for ages. Due to this fact, Nigerians are always open to cheaper data services. There are many data selling services that offer cheaper data subscriptions, but many Nigerians are oblivious to them.
Therefore, you can take advantage of that fact and become a cheap data reseller to your friends and close network. All you have to do is register as an agent on one of the networks, fund your account with your 10,000 Naira startup fund, and begin to advertise your business. Most of these networks will sell at a cheaper price to you as an agent so that you can resell and make a profit. And in any case, you can add 50 Naira to the cost of data, and still be selling at a ridiculously cheaper price than what the official service providers sell.
I have compiled this list because people always ask me, “what business can I start with 10k in Nigeria?”. Note that if you want to scale quickly and have the budget, you can invest more than 10k.
Are you looking for other booming business ideas?
Here are 35 booming business ideas and step-by-step guides to start them. It’s a strategic and financial breakdown of the most lucrative businesses in Nigeria. Get it now and start building the business of your dream.
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