[Entrepreneurs’ Corner] Top 10 business ideas with good return on investment you can implement with N100,000:00 minimum capital
A business idea in Nigeria and its subsequent launch may be compared to an opportunity that offers individuals the chance to tap into a better way of life in a nation where economic deficit and unemployment have become the norm.
There are a number of benefits to starting a private business from different business concepts, including financial freedom and fufillment of dreams and ambition.
From the aforementioned, it can be inferred that having a business idea and making it a reality is of utmost importance for everyone who decides to give it a trial.
Although there are numerous obstacles to beginning a personal business, lack of capital continues to be a major and significant one.
Below are 10 Businesses you can start in Nigeria with as little as N100,000 with guarantees of return on your investment.
1. COOKING AND DELIVERY
In Nigeria, the greatest business to start with N100,000 is cooking and delivery. Everyone enjoys eating, but not everyone is a skilled chef. Moreover, with everyone’s busy schedules these days, cooking is challenging for most individuals. There are some families who consume processed food, which is bad for their health.
With less than 100,000 naira, you can simply launch this business if you love to cook and have the necessary skills. For this service, you don’t even need to rent a space; you can simply prepare the food in your home and bring it to clients’ homes or places of business. At a busy intersection, you can also cook and sell food.
2. POS BUSINESS
The POS (point of sale) business is a lucrative one that has experienced significant growth. Some customers would rather use a POS that is even closer to them even though there is a transaction fee since they dislike waiting in lines at banks to withdraw money.
You can open an E-Payment outlet and become a banking agent for 100,000 naira. The bank is where you can acquire your POS. You would need to go to the bank of your choice and complete the proper paperwork in order to become an agent. You would receive a POS device after registering.
3. LAUNDRY BUSINESS
This is an extremely profitable business idea that is also simple to launch. There are more work options now because people are so busy that washing clothing is not a priority.
You should consider location while starting a laundry business. It is best to think about sites in open areas with less competition so that people can readily see you. Your placement should be in a residential area, an estate, or a wealthy neighborhood where you have easy access to amenities like clean water.
4. FRUIT DRINK PRODUCTION AND SALES
Another lucrative business that can be successfully launched in Nigeria with just 100,000 is this one. Freshly squeezed juice without additives or flavors is becoming more and more popular. Additionally, as people’s awareness of the negative health effects of processed food and beverages grows, they are turning away from soft drinks and toward naturally produced fruit drinks, creating a fantastic economic opportunity.
There are specific steps to take in order to launch this business, and you’ll also need a great location that will increase sales. There are other places you can sell your fruit drinks, including roadside stands, malls, fitness facilities, and cafes.
You may provide it in bulk to grocers or eateries.
5. AGRICULTURAL BUSINESS
Due to everyday use of agricultural products, the agricultural industry is currently quite profitable in Nigeria. You must have a foundational understanding of the region you wish to explore before you enter the agriculture industry.
The Ideas for agricultural businesses include: Poultry Farming, Vegetable farming, Catfish farming e.t.c.
6. POPCORN BUSINESS
One of those industries that hasn’t yet reached its full potential is the popcorn business. Popcorn is a popular food, therefore you won’t regret investigating this business opportunity. You can start a business with little money, watch it grow, and manage it on your own in the comfort of your own home. It is not stressful or time-consuming.
You should aim for supermarkets, schools, canteens, hotels, shops, restaurants, markets, etc. if you want to sell your popcorn really well. For increased sales, it’s also a good idea to place your popcorn machine near a market, busy street, high-traffic area, etc.
7. CARWASH BUSINESS
One of the most successful businesses nowadays that anyone may start with N100,000 naira is the car wash business. Many people today lack the time to properly wash their cars, are stressed from a long day at work, or are unable to do so. In these cases, the only option left to them is to take their cars to a car wash.
Anywhere there are lots of cars and a sufficient quantity of water, you can start a car wash business. In Nigeria, the car washing industry thrives in both the rainy and dry seasons, so there won’t be any difficulties operating the business. A decent site is also necessary for opening a car wash business. You must pick a location that is obvious to everyone.
You might travel from home to house washing vehicles for individuals if you are unable to rent a space. Without a doubt, starting a successful car wash business in Nigeria with just #100,000 is a brilliant idea.
8. PALM OIL BUSINESS
Due to its numerous uses, the palm oil industry is one of the most lucrative enterprises someone can enter today. Most people use palm oil when cooking, and you can even decide to sell it across states to make a lot of money.
Furthermore, the price of palm oil fluctuates; you can buy it when it is low, store it, and then sell it when the price rises. The most crucial factors to take into account while starting your palm oil business are to get your tanks and storage space, get some rubbers, organize with vendors and select a transportation method.
9. FOODSTUFF BUSINESS
One cannot survive without food because it is one of our fundamental needs. Due to this, the food industry is one of the greatest businesses in Nigeria to launch with #100,000 and succeed.
Foodstuff sell incredibly well because of how essential they are to human existence. You can open a foodstuff business anywhere there are people for 100,000 naira. Additionally, you should decide what kinds of raw foods you want to sell before starting a food business. Then, look for farmers as suppliers.
Depending on the transportation arrangements you’ve made, you can sell them both online and offline.
10. HAIR CUTTING BUSINESS
Another business that would require training is hair cutting. You should first become skilled in the “art” of barbing before establishing this business. As soon as you gain this ability, finding a nearby salon and getting the necessary materials come next. You’ll need the following tools: Clippers, shaving creams, hair lotions and creams, Disinfectant, Brushes, Powder and Hair Dye.
