Dear Entrepreneur,
Starting a business is a dream that many hold, although few put it into action. One of the reasons people hold back from launching their entrepreneurial dream is because of limited resources. Whilst money is indeed important in any business endeavor, however it is sometimes advisable to consider starting small and then gradually grow the business. If you’re willing to start small, todays article suggests 5 businesses you can low with as low as N100k.
FOOD BUSINESS
This is one of the best businesses that you can start with less than N100k. People will eat no matter what they are passing through. If you do not have a space to sell your food, you can start cooking on demand from the kitchen in your house. You just need your cooking supplies and packaging materials. You then have to package your food and market it to your customers (online and offline). And if you do have a space to sell your food, you have to ensure that it is located in a busy area where your target audience can be met. You can decide to target places like student areas, construction sites, markets and so on.
DECLUTTERING
With the use of your social media platforms, you can start this business as fast as possible. Decluttering involves selling off items based on a percentage. It could be 10% or 15% of the price per item. For example, a person relocating may decide to sell his/her household items. The person takes clear pictures of all these items and the price he or she wants to sell them and sends to the declutter agent. The agent uploads these pictures of the item on the declutter page on social media platforms stating the price, location and condition of the item. An interested buyer contacts the agent and makes payment. The buyer goes to the location given by the seller to pick up. After picking up the item, the agent removes 15% of the amount payed and pays the rest into the account of the seller. The job of the agent is that of a middle man bringing together buyers and sellers for a percentage. This business can be done in the convenience of your bedroom. You will need a smartphone, an active online presence, sufficient data and power bank. It is important that you have a good and a solid online reputation in order to earn people’s trust.
SALE OF MOBILE PHONE ACCESSORIES
This is a branch of mini-importation business that you can start and get your profits almost immediately. Every now and then, people get to change their phone accessories such as phone batteries, chargers, screen guards, earphones and so on. This business is very easy to start. You can get the items at very cheap prices directly from online stores like Alibaba, Ali express. Once the items are shipped from overseas, you can start marketing to your target audience. You can target students or content creators. Ensure that you market yourself to your friends and family and also via your social media platforms.
SALE OF CLOTHES
It is impossible to overstate the significance and importance of clothing. This is one of the most profitable business ventures in Nigeria that can be launched with NGN 100,000. However, you must be willing to promote the business through one-on-one interactions and, notably, through social media platforms such as Instagram and Twitter.
You must decide on the kind of clothes you want to sell. This could be female, male or children’s clothing. Then you need to locate a market to shop for beautiful and affordable materials such as Balogun or Aba market. You may decide to rent a space and start selling the clothes or send them to your clients’ doorsteps.
Additionally, it is very important to have a positive working relationship with retained costumers, who can recommend the clothing business to other people who might become clients. is important to note that having an online presence in order to be able to reach out to more customers online.
DRYCLEANING
Another profitable business in Nigeria that is frequently disregarded and overlooked is laundry/drycleaning. It can be challenging to find time to wash clothes because most people do not have the time to do this due to busy schedules or not being interested in washing the cloth by themselves. This is where the laundry service provider comes in. A small washing machine can be gotten to start the business. If it is not possible to buy one right away, hands can be used to wash the cloths. Other things that will be needed is washing soap, bleach for whites and iron. This business can be started with NGN 100,000 or less and it is highly profitable. The ability to work comfortably from home without necessarily owning a personal shop or location is one benefit of the business.
Just like most other businesses, doing laundry requires honesty. A laundry person must consistently uphold his word as a provider of washing services by making certain that the clients’ clothes are ready when they are anticipated.
PARTING THOUGHTS
Starting a business takes off from the point where you realize that there is a problem to solve or a vacuum to fill. There are a number of benefits of starting a business such as ability to achieve financial freedom and work at your own pace. You only need to look inwards and discover what you can do. It is important to note that having an online presence should not be underestimated for every business.
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