Cheapest business to start in Nigeria: Are you planning to start a business in Nigeria but only have little capital to start and you want to know lucrative cheap businesses you can start? Well, you are not alone. Many people in Nigeria today do not have adequate capital to start a business, thus leading to the search for the cheapest business to start in Nigeria.
We have done thorough research by asking people around and we have been able to discover some cheap but profitable business ventures to start in Nigeria. There are many businesses you can start in Nigeria with little to no capital, however, this article picked the top list.
In this article, we shall be highlighting and discussing the top cheapest business to start in Nigeria and start making money.
Top Cheapest Business To Start In Nigeria
The following are the top list of the cheapest business you can start in Nigeria:
1. Street Food Vending
Street food vending is a popular and affordable business idea in Nigeria. You can start by selling popular Nigerian snacks like puff-puff, boli (grilled plantain), roasted maize, or gala (sausage roll) on the streets or at busy junctions. With a modest investment in ingredients and basic equipment, you can start earning income quickly. Street food is one of the cheapest business you can start in Nigeria as the capital required to start it range from N50,000 - N100,000.
2. Home Cleaning Services
Home cleaning services are in demand in Nigeria, especially in urban areas. You can offer cleaning services to homes, offices, or commercial spaces with minimal investment in cleaning supplies and basic equipment such as brooms, mops, and vacuum cleaners. You can market your services through word of mouth, flyers, or social media. You need to budget little capital to get working equipment like a broom, mop, bucket, etc.
3. Car Wash
Car washing is another cheap but profitable business to start in Nigeria. As car ownership is increasing, so is the need for a car wash park. You can set up a car wash station with basic equipment such as high-pressure washers, buckets, sponges, and cleaning detergents. Location is key, so choose a busy area with a good water supply for optimum success. The ideal capital to start a car wash business in Nigeria and in a good location range from #100,000 to #200,000.
4. Tutoring Services
If you are good in a particular subject and you know how to pass knowledge through teaching, then you can start a tutoring service. You can offer one-on-one or group tutoring sessions in subjects such as mathematics, English, science, or music depending on your area of expertise. You can advertise your services by telling people what you do to your neighbors or through social media and conduct the tutoring sessions in your home or at the student's homes.
5. Fashion Accessories
You can start a business selling fashion accessories such as jewelry, bags, belts, or hair accessories. You can source affordable accessories from wholesalers or manufacturers and sell them online or through physical retail locations. Social media platforms can be used to market your products.
6. Mobile Phone Repair
With the increasing use of smartphones in Nigeria, mobile phone repair services are in high demand in Nigeria. Repairing phones is one of the cheapest businesses you can start in Nigeria. You can set up a small shop where you can repair smartphones, tablets, or laptops. You will need basic repair tools, replacement parts, and technical skills to start this business.
7. Snail Farming Business
Snail farming is a low-cost business idea that can be done in a small space. You can rear snails in containers or pens and sell them to restaurants, hotels, or individuals. Snail farming requires minimal feeding and maintenance, and the demand for snails is high in Nigeria, making it a potentially profitable cheap venture.
8. Poultry Farming
Poultry farming can be a profitable business in Nigeria when done right. You can start small with a few chickens and gradually expand your flock. You can sell eggs, broilers, or layers to individuals, hotels, or restaurants. You can also buy livestock animals like goats and sheep, rear them and sell them at a high price later. You will need space, basic equipment, and proper management to succeed in this business.
9. Laundry Service Business
Laundry services are in high demand and are one of the cheapest businesses you can start in Nigeria, especially in urban areas. You can offer laundry services to individuals, households, or businesses. You will need washing machines, drying racks, ironing equipment, and detergents to start this business. You can offer pick-up and delivery services to attract more customers.
10. Popcorn Production
Popcorn production is a simple and low-cost business idea that can be done from home. You can buy a popcorn-making machine and raw materials such as popcorn kernels, oil, and seasonings in bulk. You can package the popcorn in attractive bags and sell them to individuals, schools, events, or local stores. You can also make your popcorn in large quantities and sell it to wholesales market that is ready to buy your goods at once. This will reduce the stress of hawking.
11. Snacks Production
Snacks production is a profitable cheap business idea in Nigeria. You can start by making popular Nigerian snacks such as chin-chin, plantain chips, or cookies. You will need ingredients, packaging materials, and basic equipment such as an oven or fryer. You can sell the snacks to individuals, schools, events, or local stores.
12. Barbing Salon
The barbing salon is a popular and affordable business idea in Nigeria. You can set up a small barbing salon with basic barbering tools such as clippers, scissors, combs, and hair products. You can offer haircutting, styling, and grooming services to men and women in your local community. With a good location, you can start making decent money from your barbing business within a very short time.
13. Soap-Making Business
Soap making is another low-cost business idea that can be done from home in Nigeria. You can learn to make different types of soaps such as bar soaps, liquid soaps, or laundry soaps. You will need ingredients, molds, packaging materials, and basic equipment. You can sell the soaps to individuals, stores, or online customers.
Conclusion:
In conclusion, the business ideas discussed in this article are the top 13 cheapest businesses to start in Nigeria. It is however important to conduct thorough market research and create a business plan to know exactly what people want in a particular environment before starting any of these businesses there. With proper planning and execution, these low-cost businesses have the potential to grow into successful ventures in Nigeria.