What business can I start in Nigeria with $5,000?
Do you know that around 109.2 million Nigerians were online as of January 2022, accounting for approximately 51% of the Nigerian population?
According to the figures above, there are more options for people to start an online business and make money in Nigeria.
There are numerous ways to generate money in Nigeria, but this piece will focus on the best 15 businesses in Nigeria that you may start with $5,000.
1. Blogging :
Nowadays, blogging is making a lot of people wealthy—but only if you planned ahead of time. Your blog should be able to satisfy a market need; once this is done, there are no limits to how much money you can make from blogging. These days, WordPress and other pertinent platforms make it simple to host a website for N5000 or less.
2. Maintaining and repairing mobile devices:
Learning how to repair mobile phones is a great business to start with $5,000 as a student in Nigeria; it is simple if you are driven and patient.
You can buy used hardware or components and stock up, but if you have a gross starting capital of 5k NGN or less, you can buy hardware parts based on consumer demand.
As a student, you can watch YouTube instructional videos that show how to perform various types of repairs.
Naturally, you might start with just one specialty, such as applying the cover and glass sticker to other students’ mobile phones.
The smartphone business is one of the largest in terms of size and reach, and the difficulties it faces, as well as the support, repair, and accessory services that may be provided, are nearly limitless.
As a result, this enterprise is regarded as a successful and promising business to start with 5k as a student in Nigeria because it generates large income but takes patience.
3. Beauty salon:
Make flyers and hand them out throughout the area. Employ a skilled hairstylist. If you’re not skilled in this area, you don’t even need to do the hair. Essentially, your organization will offer mobile services. Wherever your clients are located, you must deliver your hair-making services.
4. Laundry services:
Purchase detergent, bleach, and other cleaning supplies with your N 5000. Inform your neighborhood’s residents about your company. You’ll undoubtedly find employment. Launder at home, then deliver the clean clothes to your clients. Make sure your prices are lower than industry standards. To prevent problems with your consumers, pay close attention to how you handle the clothing. Within a year, treat your consumers well, increase your clientele, broaden your business, and steadily become millionaires.
5. Cleaning service agent:
Purchase cleaning supplies and tools. In your desired setting, move from one residence to the next. Hire more workers as soon as you start obtaining work to make things simpler and more efficient. Consider making your company appear more professional. Begin by focusing on renting a storefront, registering your firm, printing business cards, and developing your brand.
6. Painting services:
For the painting industry to be able to secure several contracts, aggressive marketing is necessary. Is this practical, you might wonder. Certainly. Your ability to market your work determines how much money you can make. Again, painting is not a requirement for this line of work. Once the contracts start flowing in, just hire skilled painters to do the work for you.
More attention should be paid to promoting your company on social media sites, particularly WhatsApp, Facebook, Twitter, and Instagram.
7. Private tutor:
Additionally, you may start a business in academia. Additionally, if you have N5000 or less, you could be one year away from becoming a millionaire.
This is how:
With your N5000, create typewritten letters and flyers.
Distribute it to parents in particular in your target market’s community.
When you start getting work, you should immediately hire people who have experience teaching a variety of courses, including math, English, music, ICT, fine arts, graphic design, programming, physics, chemistry, history, lit-in-english, French, Arabic, and a lot more.
Follow-up is your main responsibility here to make sure services are delivered effectively and there is active marketing.
Once you’ve built up a stable clientele, you can add on more services like SAT, TOEFL, APTITUDE TESTS, WAEC, NECO, JAMB, and other exam preparation for students.
8. Website Design:
With as little as 5k, you may study website design and launch your internet business in Nigeria. Within a few weeks, anyone can learn website design if they have a desire to study and access to the internet and a personal computer.
You don’t need to know how to code; website builders and content management systems (CMS) are available for you to use so that you may develop a website in a matter of hours.
A website builder is software that allows you to drag and drop pre-made templates into your page. The majority of website builders group website designs according to their use. All you need to do to create a real estate website is choose a template from the category, and your website will be live in a matter of minutes.
WordPress, which powers 43% of websites worldwide, is another option for website creation.
WordPress.org and WordPress.com are its two platforms. If you want to create attractive websites for people, use WordPress.org.
Although you must purchase hosting and a domain to use it, it is free to use.
There are many websites where you may get hosting and a domain for the website you want to create, but Truehost is one of the most inexpensive web hosting providers in the entire world.
You will need to install WordPress in order to get started after purchasing hosting and a domain from Truehost or another website.
Freelancing is the practice of selling one’s abilities online. Do you understand how artisans work offline? It is similar to how freelancers work online.
When you hire a tailor to sew your garments, you will instruct him or her on how to stitch them and then pay for the job. Similarly, people sell digital abilities online and are compensated for diverse clients.
Freelancers are not confined to working for a single client; they can work for multiple clients at the same time.
If you want to work as a freelancer in Nigeria, the first step is to master a talent, because you will need to use that skill to provide services to people online for money.
There are websites that connect freelancers with clients for a fee. Popular freelancing websites include Freelancer, Upwork, and Fiverr.
Digital abilities such as content writing, website design, copywriting, and script writing can be sold.
10. SEO Content Writing:
Seo Content Writers is an essential component of digital marketing that should not be disregarded because it is the source of a company’s visibility. As a result, businesses want content writers to assist them with marketing.
To get visibility on search engines such as Google and Bing, a company or brand must generate SEO-optimized material on their website’s blog.
You may master SEO content writing and begin selling your skills to businesses, organizations, and individuals online.
If you are willing to explore and study, you can find free courses that will teach you SEO content writing.
This talent necessitates the use of an internet connection, a laptop, or a phone.
11. Graphic designing:
Graphic design is an evergreen internet business concept in Nigeria; brands and organizations will require banners, flyers, magazines, and the like.
The different software programs presently available online have made it simple to learn this ability. You can quickly create designs using Pixellab, Stencil, and Canva. These platforms include templates that you can modify to match your or your clients’ needs.
There are numerous free instructions and courses available online to help you launch your graphic design business in Nigeria.
12. Self-publish on Amazon Kindle Direct Publishing (KDP):
Amazon is a multinational corporation based in the United States that specializes in eCommerce, cloud computing, and other areas. On their website, they offer authors the opportunity to self-publish books online for free.
You will only be charged when you make a transaction. On their platform, you can self-publish hard and soft copies.
When someone purchase your book or books, the money will appear on your dashboard. However, in order for your books to sell, you must market them.
If you are prepared to master the ins and outs of Amazon self-publishing, you can make a lot of money online.
13. Video editing:
When people shoot videos, they require the talent of a video editor to bring the video to life.
Videos will not be as appealing without the touch of a video editor. Video editors add sound and cut out extraneous scenes and errors.
Video editors can also create videos for businesses to use in internet marketing of their products and services.
Because of the increasing rate of video content consumption, this internet business concept is still in demand and will continue to grow.
In Nigeria, you can start an internet video editing business with $5,000.
14. Affiliate marketing:
Affiliate marketing is the practice of marketing a merchant’s services or products in exchange for a commission. Affiliates advertise these items and services through their blogs, vlogs, podcasts, and social media profiles in exchange for a commission.
Look for merchants who sell products or services in your field, join their affiliate programs, obtain your unique affiliate links from them, and share them with your audience.
Some platforms provide various affiliate programs through which you can earn a commission. Some of these are the Amazon affiliate program, CJ junction, and Expertnaire and Learnoflix in Nigeria.
15. Offer SEO services:
SEO stands for search engine optimization; this service entails learning how Google works and then applying that information to position a website so that it ranks well on search engine result pages.
Because many Nigerian businesses desire to start an online business, they must optimize their websites to rank effectively when customers conduct online searches using search engines.
To accomplish this, they will require the assistance of SEO specialists. There are professional SEO classes available, and you can create a blog to practice the technique.
This is another another of the top internet businesses in Nigeria to start with $5,000.
Some things you need to know before you start an online business with 5k in Nigeria.
1. You’ll need a smartphone and an internet connection.
You cannot start an online business in Nigeria with $5,000 unless you have a smartphone and an internet connection.
As a result, if you don’t already have one, you’ll need to purchase one and have access to a good internet connection.
2. You must be patient in order to learn.
Don’t expect to establish a firm and make millions in a month or two; you’ll need to be patient to learn the ropes and put the concepts into action.
You will fail, but do not give up; instead, try again.