Despite the numerous lucrative business ideas available in Nigeria. Many people still complain of a lack of funds to start their own business. If research is to be conducted to determine the prevalent factors preventing people from starting their own business, I am convinced the number factor will be: lack of start capital.
This has continued to be an excuse that keep people in poverty.
What if I tell you there are lucrative business ideas that require small businesses capital to start.
These business opportunities are scattered all over Nigeria, with little to no significant capital to begin. You can even start some of them from the comfort of your home.
Below are 11 lucrative business ideas you can start with little capital.
11 Lucrative Business Ideas That Require Small Capital to Start
1. Plantain Chips Business
Plantain chip is a delicious snack made from unripe plantain. It is one of the most popular snacks in Nigeria, after Gala.
You might have seen the delicious snack in traffic and shops but might not know how lucrative the plantain chip business is. With an investment of fifty thousand Naira, you can get a daily profit of ten thousand Naira.
The business does not need any special equipment or training. You just need to know how to fry and package the plantain chips.
- Buy unripe plantain from the market
- Peel and slice the unripe plantain
- Fry in oil to produce chips
- Package the chips in nylon or polythene bags for distribution. Ensure you put your label with your business name, phone number, email address and address.
You can start plantain chip business with as low as five thousand Naira and scale up as you make more profits.
2. Ice Block Business
Ice block business is another lucrative business idea that requires small capital to begin. In as much, you live in an area that has steady power, or you have a standby generator. You can start your ice block business.
Because of the erratic power supply in Nigeria, many ‘cool spot’ businesses, events planners, and different ceremonies rely on ice blocks to make their drinks cool for their customers. They depend on Ice Block to serve their customers.
All you need to start is your freezer and generator for a steady power supply, then you scale up and obtain ice block producing machines as you make more profit.
Your target audiences are clubs, joints, churches, restaurants and event centres. Making a strategic relationship with event planners will land you more gigs in the long run.
3. Liquid Soap Production
The liquid soap business is another lucrative business idea for women, it can make you a lot of money in 2021. Everyone can’t afford to use Morning Fresh, so they settle for the locally made liquid wash.
You can produce and sell in shops or supply hotels and restaurants because it provides a cheaper alternative to popular liquid soap.
You can invest in branding your liquid soaps to increase your market reach and appeal. You can sell to retail shops and supermarkets that will sell to other people.
The basic training needed to produce liquid soap is freely available on blogs and Youtube channels. You will have to practice mastering it, after which you can start mass-producing it for selling. Many vocational centres also offer training on liquid soap production. This training will shorten the learning curve required to begin your liquid soap business.
4. Mobile Car Wash
Mobile Car wash is another lucrative business idea with low start-up cost in 2021. It’s one of the untapped business opportunities in Nigeria.
Instead of having a fixed place where people come to have their car wash, you go to them and wash their car in their house. This will eliminate the majority of the cost of starting a car wash.
The major problem with this approach is that you will need to move around with your cleaning equipment.
As demand increases, you can hire people to be able to attend to more clients. And open a standard car wash which will stand as an office where people can book for your service.
5. Home Cooked Food Business
Nigerians love food. I mean the local delicacy like Amala, Tuwo, Pounded yam, and many more. The most working-class and busy don’t have the luxury of time to prepare these foods.
We can get these foods from restaurants, but you will testify with me that it’s not the same as home-cooked meals.
The good news is that many people will be happy to outsource these to people that can make these delicacies. Which is like having your own personal chef.
Just imagine the joy your client will experience coming back from work to a delicious home-cooked Amala with Egusi soup.
You can start this home-cooked food business with as little as five thousand Naira and scale up as your customer base increases.
The two skills you need to succeed are good cooking skills and customer service skills. A subscription plan where customers can choose the kind of home-cooked food they want and the time of the day they want it to deliver will make running the business easy.
6. Freelance Content Agency
Many businesses need written content, from business websites to social media pages, YouTube channels, magazines, and blogs.
With your mobile phone, you can make a decent living writing content for businesses. There are many freelance platforms that connect freelancers to potential employers.
As the demand for your services increases, you can hire more writers and create more structure around your business.
A content writing agency is a lucrative business that will help to make money online from your home.
7. Hamper Business
Another business opportunity that you might want to explore is the hamper business, especially when you have a knack for picking gifts.
You can help companies and individuals to design and assemble gift baskets on different occasions.
Then you make good money picking gifts and souvenirs for clients. There are seasons like the Christmas and new year period, where companies and individuals will want to give gifts to their loved ones or customers.
You can make a lot of money helping these individuals or companies picking out their gifts and souvenirs.
You can also create and assemble your own hamper and sell it. The business does not require much capital to start.
8. House Cleaning Business
Who doesn’t want a clean and sparkling home? Cleaning the house can be very stressful, especially when you have a job that demands much of your time.
People will be willing to outsource the cleaning of their home to professionals who will come to clean while they are away at work or during the weekend.
By this, they will come back to a clean and well-arranged home every day.
You don’t need much capital to start, only the money for buying the cleaning ingredients. You can start with as low as ten thousand Naira.
9. Video Game Center
Another lucrative business opportunity to consider is to start a game centre. People love to play games, especially the male gender, both teens and adults.
They love the adrenaline rush that comes with the competition. The game centre serves as both a relaxation centre for the customers.
A standard game centre will require intense capital to start, but you can always start small and scale from there.
10. Okrika Bale Business
The Okrika Bale Business is an evergreen business that you can do from any part of Nigeria. You will buy Okrika Bale and resell in pieces.
Many Nigerians prefer buying Okrika clothes because of the cheap cost and quality of the Okrika clothes.
As someone that’s just starting out, you can share a bale with other traders. Also, you will need a shop or space in the market to sell your clothes.
11. Cake and Cupcake Bakery
Who doesn’t like eating cake? Probably, 1% of the world’s population. Everybody loves eating cake.
People also use it to celebrate special occasions like Birthday, wedding anniversary, job promotions, and many more. Therefore, cakes are always in demand.
You will need to enroll in a confectionery school to learn how to bake, after which you can start making money from your newly acquired skills. You can also learn how to bake from YouTube.
When it comes to business, it takes determination, strategy, and hard work. Starting with small capital only means you will need more time to scale your business.
What I want you to do right now is to pick one of these business ideas. Do your market research and feasibility study.
Then put everything you have into it for 12 months. You will come back and thank me for sharing these lucrative business ideas with you after 12 months. And, please come with your tithe.
