With the rising unemployment rate, not to mention the ASUU strike, unpaid lecturers, and “out-of-school” students, more and more people are starting to think of establishing their own businesses where they can work for themselves. Even more are beginning to see the need to start a side hustle to make money on the side.
Maybe you’re tired of working for someone and looking to build an enterprise, or perhaps you want to make some living and you’re looking for a business you can start up with a little capital, 50k and under.
With only 50,000 Naira, you can launch a number of businesses in Nigeria. I would be outlining businesses you can start with 50k.
Businesses You Can Start With 50k Or Less in Nigeria
1. Cooking on demand
You may not have all it takes to start a restaurant, but you can prepare delicacies for one or two people. You can start there. You can start by making videos of what you cook and showing them off on your social media, reaching out to your network, and telling them what you can do. To attract a larger audience, you may utilize your social media to market your business, post images of your cuisine, and clearly describe what you do.
2. The Fast Food business
Differentiating oneself by picking a specific menu or niche is preferred. A popular choice is setting up a pasta stall, but you can choose to make fries, akara, fried chicken, shawarma, pizzas, etc. All you need is a little stand, cooking materials, and foodstuffs. The market segment you choose to serve is key here. Your target market could be people on the street, employees and/or busy executives in a company, parties and gatherings.
3. Small-scale farming
This would be perfect if you already have a piece of land or enough space to plant in your compound to start a garden. Obtaining seeds from plants like pepper is inexpensive. You can grow vegetable or go into snail farming or poultry.
This can fetch you money. A lot of people are willing to engage home-tutors for their kids. The are online tutoring platforms you can sign up on that can link you up with parents seeking tutors for their children in various disciplines. You can also organize masterclasses on WhatsApp, Facebook, Zoom etc. to teach people desirable skills you already possess for a fee. You can also put together a course and upload it on sites like Udemy and Skillshare where people can sign up for your courses and you get paid.
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5. Pure Water and Soft Drinks Retail
Pure water retailing is very lucratie. The vast majority of Nigerians drink pure water. You would need a stand, a cooler, some iced block and your drinks! You can add bottled water and soft drinks. Getting a strategic location is preferable as a lot of people engage in businesses where they would need to satiate their taste every now and then. It would be good to be where they can buy from you. Markets are very good locations.
6. Plantain Chips
Plantain chips are a very popular crunchy snack in Nigeria. They are inexpensive, so many Nigerians can buy several packs of them, Getting items for your plantain chips business like your frying pan, groundnut oil, plantains, slicers and a simple packing require little capital. You can supply them to shops, school canteen or in supermarkets daily.
7. Oil Perfume Retail
Starting an oil perfume business does not require any expensive machinery. Getting in touch with a reputable perfume oil provider is all that’s required to get your food on the ground. You can buy 3ml, 6ml, and 15ml perfume bottles in bulk, repackage them in 1ml bottles and resell.
8. Make-Up Artistry
All you need to get started on this business are your skills and your make-up kit. You can start from your network, advertise on your social media, ask your friends to let you make them up, show off your work. Once you prove yourself you’ll receive numerous referrals.
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9. Hair making
If you are good at making hair, and perhaps have been making people’s hair for free, it’s time to turn this into a business. With your tools, you can start from your house, and you’re good to go. Your skills would speak for you. Remember to show off your work on social media.
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