What Business Can I Start with 5k in Nigeria? Nigeria is a country with a thriving entrepreneurial spirit. With a small investment of 5k, you can start a business and make a significant profit. In this article, we will discuss some of the best business ideas you can start with 5k in Nigeria.
Although 5,000 may be a little capital to start any business in Nigeria, however, with the right guide, patience, and consistency, you can start a small business with 5k and grow as time goes on.
This business idea is suitable for students, housewives, mothers, and anybody who wishes to be an entrepreneur. Like I said earlier, you just need to start the right business and that is why I have decided to show you some of these almost risk-free businesses you can start with 5 thousand naira (5k) in Nigeria.
I have compiled top businesses in Nigeria that can be started with a capital of at least 5 thousand naira. Now, let's see some of these businesses.
What Business Can I Start With 5k In Nigeria?
The following are the best and cheapest businesses you can start with a sum of 5k in Nigeria:
1. Mobile Phone Accessories Business
One of the most profitable businesses in Nigeria is the mobile phone accessories business. The mobile phone market is a growing one, and it's expected to continue to grow. With 5k, you can purchase phone cases, screen protectors, chargers, and other mobile phone accessories. You can then sell these accessories to people in your community, online or in person. This business requires minimal investment and can yield a high-profit margin.
2. Poultry Farming
Poultry farming is another profitable business idea that requires minimal investment. With 5k, you can purchase a few chicks and start a small poultry farm. As the chicks grow, you can sell them for a profit. You can also sell the eggs produced by the chickens. Poultry farming requires some knowledge of animal care and management, but there are many resources available online that can help you get started.
3. Soap Making
Soap making is a business that can be started with as little as 5k. You can purchase soap-making materials such as fragrance oils, soap bases, and molds. You can then make and sell soap to people in your community, online or in person. Soap-making requires some knowledge of the process, but there are many resources available online that can help you get started.
4. Fruit Selling
Fruit selling is a business that can be started with 5k. You can purchase fresh fruits in bulk and sell them in your community or to people on the streets. This business requires minimal investment and can yield a high-profit margin. You can also consider selling fruit salads or smoothies to increase your profits.
5. Sachet Water Business
Sachet Water which is popularly known as pure water in Nigeria is another great business you can start with a very low capital like 5k. A bag of pure water from a manufacturer in Nigeria cost #300 and each bag contains 20 sachets. If you sell each sachet of water for #20, that means a bag will give you #400 and you will get $100 as your profit.
With 5k, you can get up to 15 bags of water. Imagine selling 10-15 bags each day, that is a huge profit on your side.
6. Selling recharge cards
With ₦5,000, you can start selling recharge cards for mobile phones. You can buy the recharge cards in bulk and sell them in your neighborhood or on the roadside.
To make good use of the 5k, you can buy airtime of #200 and #100 for the different network providers available in Nigeria like Glo, 9mobile, Mtn, and Airtel. You can start buying a #500 recharge card as your capital Increases.
7. Snacks business
With ₦5,000, you can start a small snacks business by making and selling small chops, popcorn, or chin chin. You can sell these snacks in your neighborhood or at events. You can as well collaborate with schools in your neighborhood like primary and nursery schools to introduce your snack to the students. This will help to make sales and profits.
8. Liquid Soap Business
Liquid soap is one of the cheapest businesses you can start in Nigeria. You don't even need up to 5k to start this business. One good thing about the liquid soap business is that you don't need any machine to start. All you need is to get soap ingredients and mix them by yourself at home.
With the increasing rate of washing machines in society today, Marketing strategy is very easy as you can sell your soap in the neighborhood and the market and for dry cleaners.
9. Retailing of fruits and vegetables
You can start a small-scale fruit and vegetable retail business with just 5k in Nigeria. You can source the fruits and vegetables directly from local farmers and sell them in a nearby market. With proper branding and packaging, you can attract more customers and increase your sales.
10. Laundry Service
You can start a laundry service business with a budget of 5k. All you need is a bucket, detergent, and access to water. With excellent customer service and affordable pricing, you can attract more customers and build a loyal clientele.
11. Okirika Wears
Okirika Business is thriving in Nigeria and you can use this opportunity to start your small business. With 5k as capital, you can buy okirika wholesales and start selling it as a retailer. Cardigan and baby wear will give you a lead in this business.
Conclusion
Starting a business in Nigeria with 5k is possible. The above business ideas are just a few of the many businesses you can start with a small investment. It's important to note that success in any business requires dedication, hard work, and patience. With the right mindset and resources, you can turn your 5k investment into a successful business venture.