When you think about it, ₦150,000 looks like it’s not enough to start a business in Nigeria considering the current situation of things in the country, but you will be surprised that, with just ₦150,000, there are many businesses you can start and run successfully in Nigeria.
Even though times are tough and money is tight to get now, Nigerians are known for their creativity and ability to make things work in the hardest of situations. With a little bit of ingenuity and planning, you can turn ₦150,000 into a successful business venture.
From selling products online to offering services like catering or event planning, there are endless possibilities. The key is to find something that interests you, however, you don’t have to search because, here, we have a list of businesses you can start with ₦150,000 in Nigeria currently.
What Business Can I Start with 150k in Nigeria?
If you are ready to start your business now, ₦150,000 is all you need to do any of the following businesses.
Mini Importation Business
Recently, the mini importation business has gained traction in Nigeria, all thanks to the rise of e-commerce platforms. This business model involves sourcing hot-selling products from countries like China and selling them locally at a markup. With ₦150,000, you can purchase a variety of products in bulk and sell them online or through social media platforms. To get started in this business, you need to conduct thorough market research to identify high-demand products and establish reliable suppliers to ensure consistent inventory.
Food Vending/Catering Services
Nigeria’s love for food knows no bounds which makes food vending and catering services a lucrative venture. With ₦150,000, you can purchase cooking ingredients, and utensils, and rent a small space to kickstart your business. When you start, you should consider offering unique dishes or targeting office complexes for lunchtime catering services. To survive in this business, you need to focus on quality and customer satisfaction.
Poultry Farming
Poultry farming remains a profitable venture in Nigeria due to the high demand for poultry products. Your money will go into purchasing day-old chicks, feeds, and necessary equipment. If you want to start this business, you should start small with broilers or layers and gradually expand your farm as your capital grows – it is a viable strategy. However, before you start, you need to learn about poultry management practices, disease prevention, and market dynamics if you want to run this business successfully.
Mobile Phone Accessories
Nigeria has a booming mobile phone market in Nigeria which is why investing in mobile phone accessories is a lucrative business opportunity. Use your ₦150,000 to purchase popular accessories such as chargers, earphones, and phone cases. You can sell these items in busy markets, and malls, or set up a small kiosk in a high-traffic area. To succeed in this business, you need to build a strong relationship with suppliers and offer competitive pricing and excellent customer service.
Fashion Design/Tailoring
If you have a passion for fashion, starting a small tailoring business could be the perfect business for you. Use your ₦150,000 to purchase sewing machines, fabrics, and other necessary materials. Initially, you need to focus on offering basic tailoring services, then you can gradually expand into designing custom outfits as your business grows. With time, you can build a strong clientele base through word-of-mouth referrals and delivering high-quality craftsmanship.
Soap and Detergent Production
The demand for household cleaning products remains constant in Nigeria, making soap and detergent production a viable business opportunity. To start, you need to purchase raw materials such as chemicals, fragrances, and packaging materials. With proper formulation and marketing, you can sell your products to local households, retailers, and wholesalers. In this business, you must ensure that you produce quality detergent and brand them very well if you want to grow fast.
Digital Marketing Agency
If you have a digital skill, you can leverage your skills to start a small-scale digital marketing agency here in Nigeria. You can offer services such as social media management, content creation, and email marketing to small businesses in your area. With minimal overhead costs, you can quickly turn a profit and reinvest in your business. To succeed in a digital marketing agency business, you need to build a strong online presence, network with potential clients, and deliver measurable results. Brands will come calling.
Event Planning/Decoration
Nigerians love to celebrate life’s milestones in style, making event planning and decoration a lucrative business opportunity. Use your ₦150,000 to purchase decorations, rent equipment, and create a portfolio showcasing your work. before you start this business, you should know that building relationships with vendors, offering creative solutions, and delivering memorable experiences will be the key to your success.
Barbing Salon
Hair grooming is a necessity for many Nigerians. Invest in a small barbing salon by purchasing clippers, chairs, and grooming products. You can offer quality services at competitive prices to attract a steady stream of customers.
Rental Services
Capitalize on the sharing economy trend by starting a rental business. You can rent out items such as party tents, chairs, tables, and sound systems for events. With careful management, you can quickly recoup your initial investment and expand your inventory.
If you are an entrepreneur in Nigeria, there are many opportunities to start and build a successful business with just ₦150,000. Considering the economy, it might look impossible but these business ideas have proven over time to be profitable and you can easily start with just ₦150,000.
Before you start any of the businesses here, ensure you conduct thorough market research to see which business is better in your area. In addition, develop a solid business plan, and leverage digital platforms for marketing and sales.
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