Are you dreaming of starting your own business in Nigeria but worried about the capital? Don’t fret; we’ve got you covered. We’ve scoured the Nigerian market and done the research to bring you the 13 cheapest businesses to start in Nigeria that can yield attractive returns. Let’s dive in:
1. Graphic Design Business
If you’re creative and have a knack for software like Photoshop and Corel Draw, you’re halfway there. Graphic design only requires a laptop and internet connection for research and inspiration. With determination and creativity, you could turn this small-scale venture into a lucrative business.
2. Phone Repair Business
Setting up a phone repair business requires minimal investment, primarily for training, equipment, and a strategic location. Repairing Android and iOS devices in a bustling area can bring in significant profits.
3. Poultry Farm Business
With a modest investment, you can start your poultry farm and tap into Nigeria’s demand for chicken and turkey meat, especially during festive seasons.
4. Tailoring Business
Learn the art of tailoring, invest in a sewing machine, and you’re all set to start your tailoring business. Begin from home and expand as you grow.
5. Freelance Writing Business
If you have a way with words, freelance writing could be your path to financial freedom. Sign up on platforms like Freelancer and Upwork to showcase your skills and earn in dollars.
6. E-book Creation
Put your storytelling skills to good use by creating e-books. Platforms like Amazon KDP offer opportunities to publish your work without upfront costs.
7. Mini Importation
Importing affordable goods and selling them at a profit is a viable business model in Nigeria. Focus on products in high demand or trending locally.
8. Affiliate Marketing
Promote products on social media platforms and earn commissions for every sale made through your affiliate link.
9. Website Design
Learn web design skills and offer your services as a freelancer on platforms like Fiverr and Upwork.
10. Tailoring
Invest in a sewing machine and start learning under an experienced tailor to kickstart your tailoring business.
11. Okrika Business
Sell second-hand clothes sourced from places like Cotonu or local sellers. Target markets include marketplaces, schools, and busy streets.
12. Become a YouTuber
Start a YouTube channel on topics you’re passionate about and monetize it through Google Adsense.
13. Social Media Marketing
Leverage your social media skills to help brands build their online presence and gain exposure.
Conclusion
Starting a business in Nigeria doesn’t always require hefty capital. With the right skills, determination, and a bit of creativity, you can embark on any of these low-cost business ventures and pave your way to success.
FAQs
1.Do I need prior experience to start these businesses?
While prior experience can be beneficial, many of these businesses can be learned through online resources and hands-on practice.
2.How quickly can I start making profits?
Profitability timelines vary depending on factors like market demand, location, and your level of dedication. With perseverance, you can start seeing returns within a few months.
3.Are these businesses sustainable in the long run?
Yes, many of these businesses have the potential for long-term sustainability, especially if you adapt to market trends and customer preferences