35 Lucrative Business in Nigeria with little capital investment 2019/2020

LCucrative Business in Nigeria with Little Capital Investment
Courtesy: ukfinance.org.uk

One common question we’re often asked, on this site is, “what Lucrative business can I do in Nigeria with little capital investment”. For people who are asking this kind of question or similar one like “what profitable small business can I start in Nigeria”, ask no more! Discover here ⇒ 35 Lucrative Business in Nigeria with little capital investment! These businesses are profitable small scale business ideas with little capital  start up.

These days, white collar job is hard to find. Even when you’re able to find a white-collar job, the salary you earn monthly from the job will definitely not meet your daily needs. If you must make a good living, you must diversify your source of income; by starting a business either to make passive income or managed full-time business that will continuously yield high profit for you.There are lots of good list of small businesses with little capital investment. However, we’ve scale it down to the 35 most lucrative business. In Africa, most especially Nigeria, South Africa, Ghana, Kenya, Cameroon etc; some of these business with little capital investment are thriving very well. I prefer to discuss small scale business because it is easier to start small. That doesn’t mean that you can’t start any of these business ideas in medium or large scale. But the best idea is to start the business in small scale and then grow the business into large business enterprise. This is the best approach to any successful business.

Before we proceed to discuss these lucrative business ideas, let’s look at what is needed to succeed in business.

What is needed to succeed in business?

i. Business Orientation – Having the right business mindset, seeing business opportunities where your competitors can’t see and leveraging on it, are key to successful businesses. Again, Having the right approaches to your business strategies is needed for the success of your business. You need to be stringent in your approach to production, product, marketing and sales.

ii. Dedication – To succeed in business, whether small business or large scale business; you need to be dedicated. You won’t mind putting up extra hours into the business and definitely you will succeed.

iii. Honesty – if you must succeed in business, you must adopt the quote, ‘Honesty is the best policy’ in your business. Honest is the fastest way to prevent business mistakes. Honesty will help you over take your competitors in the long-run.

iv. Passion – you need passion to succeed in business. Passion is what keeps you going in trial time. Be passionate about your business and you’ll succeed.

v. Your Brain – In business, your brain is your best business tool. You have to put it to work 24/7 to succeed.

Extra helpful tip: Make friends with people who are in the same line of business as you do, share ideas with them so that you can be updated on the current trend on that business. These are secret of successful businesses.

Without wasting much of your time, let’s look at some of the most lucrative business opportunities in Nigeria with little capital investment. If you actually want to start business in Nigeria and you’re in need of profitable business ideas to invest in; you can start with any of these small businesses.

Lucrative Agricultural business ideas

Africa are known for Agriculture farming. The land setting, good climatic condition and rich soils create enabling environment for animal and crop farming. People who have access to piece of land or space can easily start Agricultural business. Most of the major requirement apart from space (land), are good sources of water, viable breeds (crops and animals), Livestock feed for farm animal, fertilizer for crop cultivation etc. The businesses can be started as a sole-proprietor and then grown to Limited Liability Company. Some of the most lucrative Agricultural small business that requires little capital investment are;

  1. Poultry farming business – Poultry Farming is one of the lucrative business idea you can start from home. This business type of business you can easily start from your backyard. You can make a good profit in this business during festive period like Christmas, Easter and during other celebrations. With small amount of money as low as 20 – 30K, you can comfortably start a boiler poultry farming business in Nigeria, Cameroon etc once you have enough space and good source of water. The market for poultry products is available throughout year.
  2. Fish farming (catfish and Tilapia Rearing) – Fish farming business is one of home-based business idea you can make huge profit from if properly managed. Before starting fishing farming, make sure you’ve been trained or you’ve gathered wealth of experience in fishing farming. The Cost of Starting Fish (catfish) Farming Business in Nigeria varies from one locality to another. The market for fish and fish farming products are readily available and include hotels, restaurants, eateries, Fresh Fish point-and-kill Joints, fast food joint, Shopping mall etc. The best way to start fishing farming is get Fish Farming Business Plan that will serve as a blueprint for your business. It is difficult to hatch fingerlings in Nigeria. Most fish fingerlings are imported from Japan, however in some part of Nigeria like Ibadan, there are companies that hatch fingerlings.  So, fish fingerlings  hatching business is an untapped business opportunity in Nigeria
  3. Snail Rearing Business – snail farming is a profitable business you can from your backyard. It is another home based Small business that require little capital investment. it is a very good idea starting this business from home because it requires close monitoring. Most people who rear snail for commercial purpose adopt special snail rearing techniques. You need to be equipped on the newest snail rearing methods before starting snail rearing. if you’re interested in snail rearing business, you can learn ⇒ How to Start Snail Rearing Business in a Locality. Special market are available for snail rearer across Africa especially in Nigeria. Snail food are highly proteinous and it is generally believe to increase blood level.
  4. Piggery Business – Pig farming business is yet another Home based highly lucrative business. it is one the business opportunities that you can never regret investing on. You can start with one female pregnant pig which may cost about fifty thousand naira (N50,000). When it is delivers, it can give birth to about 5 – 10 piglets. Each can be sold at N7,500 – N12,000 after weaning. You can be making roughly one hundred and twenty thousand naira (N120,000) at the start. You can now see why piggery business is a lucrative business, people should invest in. A friend of mine got an SME loan to rear pigs and he’s making it. You too can make it as well. Most People eat pork meat because the meat is very sweet, the market for pig farming is available in Nigeria.
  5. Dog Rearing and Breeding Business – Rearing and bleeding of dog is another lucrative business you start from home. Most people rear English dogs because it pays. You can buy one young Female English dog at forty thousand naira (N40,000). When the Dog give birth, it can deliver up to 4 – 15 puppies depending on the bleed of the dog. You can sell each puppy at rate of N15,000 – N25,000 depending on the dog breed and that’s huge money.
  6. Livestock feed production – Starting local Livestock feed production is good way to make money with little capital investment. Most Animal farmers prefer local livestock feed to industrial processed feed because it is cheaper and occasionally more nutritive. However, for you to start livestock feed production and be good at it; you need to acquire skills, training and experience in livestock feed production. The food given to your livestock must contain balance diet other they’ ll suffer malnutrition.
  7. Vegetable farming – Vegetable farming is a business you can start from home with little or no capital investment. You can start it from your backyard once there is small space for garden. To make money in vegetable farming, you need to be cultivating different vegetable plants in the seasons. You can read more on ⇒ How to Start Vegetable Farming in Nigeria.
  8. Cassava processing Business – This is rural/ sub-urban business. The major challenge of this business is the cost of purchasing cassava processing machines. You can learn more about ⇒ How to Start Cassava Processing Business in Nigeria (including machine & factory equipment).

Profitable Service business ideas

The major requirement for this type of business include: canopies, chairs, tables, stools, table dress cloth, big cooking utensils, and ribbons for hiring and manpower, computer, Generator, space etc. These type of business ideas are not hard to start. Anybody can start the business.

  1. Laundry/Dry cleaning – laundry services had been in existence for decades now. It is one of those lucrative businesses that has been thriving well in cities. Some cities in Nigeria, this business thrives well include Lagos, Abuja, Kano, Enugu, Ibadan, Onitsha, Aba, Kaduna etc. It can be started as small business from home with little capital investment and then grow into a large laundry firm. To make money on laundry business, you have to reduce your service charge then get the job done on time. You can learn more about ⇒ How to Start Laundry Business in Nigeria.
  2. Barber Shop/Saloon – This is one of the profitable small businesses in Nigeria, most people often do neglect. Once you have a shop and set of generator plant, with as little as fifteen thousand naira (N15,000); you can set up barber shop.
  3. Food Restaurant business -Food restaurant is one fast growing business in Nigeria. The business is highly lucrative. It pays In most cities in Nigeria, people eat food out because of their busy time schedules and job. When started as small business, it usually requires little capital investment. So, depending on your capital, you can start restaurant business in small or large scale. Learn more about ⇒ How to Set up a Restaurant Business in Nigeria (with costs & requirements). If you can cook delicious food, you’ll definitely make it in this business. However, if you can’t cook
  4. Rental Service Business – Starting Rental business is one of the ways to make money without stress. You can start by renting cooking utensils, followed by chairs and tables, canopies and even diversify to renting cars when the business has grown.
  5. Event Management business – You can start this business without a dime especially when you’re starting the business as a small business. All you have to do is to rent all the materials you need to manage the event. You can pay after you’re through with the event. You can be making close one hundred thousand naira profit when you manage big event in city.
  6. Computer Business Centre – Computer business centre is still a lucrative business investment especially when it is located near or within school, high institutions or universities. The entry point into business depends on your capital. Learn more about ⇒ How to Start Computer Business Centre.

See Also: How to start Ambulance service business in Nigeria

  1. Uber Taxify business – The idea is best for drivers who owns a car. This business is lucrative; and it is thriving well in Lagos and Abuja.

Educational business ideas

The major inputs in these businesses are computer, manpower and space.

  1. Tutoring Classes and Centre Business – You start Tutoring Centre Business with little or no capital investment once you have a space. Once you start the business; making money on the Business is easy. Learn more about Tutoring Centre business in Nigeria.
  2. Nanny and Day Care centre – Nanny and Day Care centre is one of the businesses that can be started small with little or no capital investment. If you’re good at taking care of children, this business is for you. Your job starts when the parent of these children leaves you with their children.
  3. Self-empowerment centre and Workshop centre – This business is a growing business with small capital investment. Self-empowerment centre and Workshop centre are meant for those people who want to acquire skills to empower themselves.

Lucrative Technology business

The major materials needed are computer or laptop, sets of screw drivers and testers, printing machine, phones and mobile phones, internet connection and manpower.

  1. Graphic arts, Branding – Graphic designing, Customizing and Sales is among the business ideas that can pay if you’re good at designing graphics. So, to start graphic designing business, you have to first learn how to design good graphics.
  2. E-Payments and POS Business – E- payment system and POS Agents are becoming widely accepted method of payment and people are capitalizing on it to make a good living. The business works 24 hours and; it is fast moving.
  3. Mobile phone Accessories and spare parts business – Mobile phone Accessories and spare parts business is becoming rampant as the number of mobile phone users increases. Learn more about ⇒ How to Start Mobile Phone Accessory  Business in Nigeria. Start a Mobile phone Accessories and spare parts business with our business plan on mobile phone accessories. You can read more about Businesses to do on weekends in Nigeria.
  4. Computer repair and services Business
  5. Mobile phone repairs Business

Profitable Distribution business ideas

You can be a distributor of a product without investing a dime. You have you have marketing potential to succeed in distribution business. Again, it is good marketing products that are high in demand. Go for products that people need. Learn more about ⇒ Distributor Business in Nigeria; Requirements, Profit and How to Start

  1. Kerosene storage & distribution business – This business is no longer longer lucrative as it use to be. However, it is a business opportunity that is worth trying. The business is still paying
  2. Beverages distribution business – This business is lucrative when there is high turn- over. So, to make it in Beverages distribution business, you need high volume turnover.
  3. Beer distribution business – this business is fast selling Africa, especially in Nigeria

Lucrative Production business ideas

Production business is a money making business. The major challenge of production business is in marketing of your products/goods. The capital required to start production business varies depending on the type of production business. People are making money in business.

  1. Soap and detergent production business
  2. Body ornamental, and perfume production business

Online Business Ideas

Online businesses with little capital are vast. One good thing about some online businesses is that you can start them from comfort of your home. Making money online is easy! Once you position your business very well; you can make money online fast.

  1. Blogging – Blogging is one of the profitable online businesses that require small money to start it. It is an easy way to make money online. One good about blogging is that you may not rent office or space before you can start blogging. You can comfortably blog from home. To start a blog, get a domain name, register with hosting company, choose a blogging platform like wordpress and research for niche to get started. Create youtube channel to share videos of your blog content. Learn more about ⇒ How to Start a Successful Blogging in Nigeria.
  2. Social Media Marketing business- You need to know how to build social media influence for succeed in business. Marketing product(s) on social media is gradually become tougher as number of Social media hackers grows. However, it is still one of many business ideas to try out.
  3. Affiliate marketing – In Affiliate marketing, you market other people’s hot products or services through your blog or social media pages. At every product bought through your affiliate link, you earn some commissions. Affiliate marketing will continue pay you over time if properly done. Learn more about ⇒ How to Make money from Jumia Affiliate Marketing Business.
  4. SEO Marketing company – SEO marketing companies make money, these days. Many Companies are willing to spend millions of dollars online on search engine optimization in other to remain at #1 position on search result. SEO marketing companies are now capitalizing on this. To succeed in SEO Marketing business, you need to learn art and science of SEO, get updated on Google and other search engine ranking factors.
  5. Digital marketing company -Digital marketing company is another online business that is thriving well.
  6. Online Escrow Service company – Online Escrow Service is one of great businesses, most online business millionaires do. However, one challenging aspect of this business is in gaining the trust of people. Because of this, we suggest that before you create website for Escrow services that you first create a whatsapp group for your business where you establish relationship with your customers.
  7. E- commerce business – E – commerce market is a fast growing online business. Starting the business is easy, these days everything is been automated. E-commerce software are readily available. Shopify, Woocomerce etc sell E-commerce software and plugins you can integrate into your website. You can also buy and sell any product you want on E-Commerce website. If you can’t create your own E-Commerce website, you can register with other E-Commerce website to start selling your personal products. When properly established, E-commerce business pays. Learn more about ⇒ E-commerce Business.

To conclude, business opportunities with little capital investment are abound every where in Africa – Nigeria, Ghana, South Africa, Cameroon etc. Entrepreneurs need to look inwards to discover these opportunities. The above are some of the profitable business opportunities in Nigeria with little capital investment. We have carefully selected them for you to consider starting.

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