Starting a business is largely perceived as expensive. This mindset limits the thought process and actions of people, and so, confines them only to their jobs, immediate social circles, and how they accept whatever life throws at them.
While the bulk of the population complains about the high costs of starting and running a successful business, they forget that success comes in variations, and that small wins are the steps needed to drive any business towards its short and long-term goals.
If you find yourself cash-crunch and worrying about how much it costs to start and grow a business, here are 10 low cost business ideas you can start with 100,000 Naira or less:
1). Baking & Selling Roadside Snacks:
This spans through vast categories like preparing and selling shawarmas, popcorns, meat pies, doughnuts, and several other quick snacks. While many may see this as a petty business, only a few look beyond its shortcomings and identify with its big picture.
A visionary entrepreneur could take advantage of the less crowded roadside snack niche and build a brand around it, where there’d be many mobile branches around the state selling the tastiest snacks in the neatest and most attractive ways.
Some great locations to put them up are markets, schools, estates, and several others.
See Also: 10 Profitable Small Business Ideas For College Students
2). Mobile Phone Accessory Sales:
One great low cost business idea with a large revenue potential is the sale of mobile phone accessories.
So many people buy power banks, headphones, batteries, phone pouches, phone chargers, and more on a regular basis. The volume of phone accessories sold daily trumps the volume of mobile phones sold by an extremely wide margin.
This frantic demand hasn’t just made it a great business opportunity for the populace to get into, but an affordable one to start from as low as 100,000 Naira and below.
With a small stand at a public tech hub like the computer village in Lagos, you can start a mobile phone accessory business.
3). Soap Production:
Every year, the population of people venturing into local soap manufacturing grows substantially. This industry which had been dominated by the likes of Dettol and Lux for so many years is now experiencing a large influx of investors because, it is relatively easy and cheap to start manufacturing all kinds of soaps with 100,000 Naira and below.
If you’ve always had a flare for fast moving consumer products, venturing in soap manufacturing at the lowest possible cost is a great bet.
See Also: 5 Lucrative Fast-Moving Consumer Goods You Should Invest In Today
4). Roadside Bar:
Roadside bars also called beer parlours in Nigeria are extremely popular. A lot of them usually have a large influx of people every evening and profit from them by not just selling popular beers, but also serving delicacies like pepper soups, nkwobis, and a lot more.
Opening a roadside bar is one of the top low cost business ideas you can start with less than 100,000 Naira. Choose a good location, preferably a street filled with a lot of middle and lower class citizens, rent a store, then place tables and chairs in the public view where people can sit, drink, and converse.
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5). Organic Juice Production:
Any individual with 30,000 Naira or less can start extracting fresh juice from Oranges, Apples, or more, to prepare organic juice, which can be turned into a thriving business.
If you live in a highly trafficked neighbourhood or in a university campus, preparing and selling freshly made juice can be a profitable investment to make.
See Also: 15 Profitable Small Business ideas for Beginners
6). Web Design & Development:
Web design and development consultancy services cost almost zero dollars to start up if the founders have good programming skills.
If you have a knack to learn new things and are largely tech savvy, you could spend two months learning how to code, building sample works, and then officially launching a web development coy.
All these can be done for less than 10,000 Naira.
7). Affiliate Marketing:
Affiliate marketing largely involves getting a commission for every sale or lead you bring to a company. Carrying this out doesn’t require any funds being spent, but that you have a wide network of people you can market the affiliate services to.
For instance, if an affiliate is willing to pay you $65 for every successful sale you bring in, getting 10 people from your network to subscribe to their service would amount to $650, 100 people would be $6,500, and 1,000 people will be $65,000.
See Also: How To Make At Least $1,000 Monthly Online Without Google Ads
8). Sachet Water Production:
Sachet water popularly known as pure water in Nigeria is one of the fastest selling commodities on the streets. People buy them in schools, events, for parties, in traffic, and in almost every other part of the country. Its low cost of production and explosive demand doesn’t just make it a lucrative business, but a highly affordable one to venture into.
9). Poultry Farming:
Poultry farming is a low cost agricultural business idea that can be started with anywhere from 30,000 Naira to over 10 billion Naira. It involves the raising of chickens, guinea pigs, turkeys, and several other domestic birds. A good advantage of this business idea is that it can be started from your backyard.
See Also: How To Start A Profitable Poultry Farming Business In Nigeria
10). Nanny Services:
Got a knack for taking care of kids? Or have you previously worked for a day care? If yes is the answer, starting a nanny service is a great bet for you to try out. This business can be started with almost zero capital and involves you spending time taking care of the kids left at home by busy parents.
To Sum It Up
No matter how little your capital is, there’s always a small business idea you can take advantage of. These low cost business ideas can all be started with 100,000 Naira or less, and are ideal for any entrepreneur with a little startup capital. Your small wins won’t just form the foundation of your entrepreneurial journey, but would also determine how much larger your business will grow.
See Also: This One Thing Can Grow Or Destroy Any Small Business
What are your thoughts on these 10 low cost business ideas you can start with 100,000 Naira or less? Let me know by leaving a comment below.
Image Source: StartupGuys.net
I am interested in the pure water production business do you have any idea of how to acquire some of the machinery to star with less than a hundred thousand naira please give me more detail about that.
thanks for your time you are doing a great job.
I currently don’t have that information, but when a full research is done, I’ll put up an article about it.
For now, I’d suggest you visit a local sachet water company in your area to make enquiries.
Do let me know about your findings.
Thank you for asking.
well am currently working on my. there are two sides to the business of sachet water.
1. nafdac registered
2. non nafdac register
major demand of the business is very good source of water bore hole most cases which pretty expensive
also water pumping machines cost 30k now but around 15k before, big tanks for storage of water 50k for 2000 litres at least 2, very clean rooms at least 3 rooms- office, production and storage.
this is just brief summary to be able to produce clean affordable clean water
I have started producing gradually
I dug my bore hole for 250k
tanks 4 cost between 30 to 70k
the building whic cost 50 k per shop
Thank you for the updated information Hope.
Have a great time!
Please, If this is realistic, i will like to know where to learn web dev and programming for N10,000 expecially in Ibadan here.
Kudos for the good works and more power to your elbow.
It’s 10,000 Naira because the assumption is you’d learn on your own.
You can get web development eBooks, code samples on the internet, and also have an experienced friend tutor you overtime.
Going to a computer institute is a lot more expensive.
If you’re computer savvy and have got the time and will to learn, you can self study. Else, a computer institute is your best bet (for a much higher cost).
Thank you for asking.
@oremicraft we use locally sourced materials to make unique pieces. sold locally and internatioanlly.
With a little bit of training; an open mind to learn you can start this business with as little as #5000 thats apart from training. Anyone inteested can check my wall on facebook or instagram @oremicraft..Whatapp….07089255464
Am interested pls my whatsapp -08094551795
I appreciate the value in this write-up but I want to disagree with the satchet water production option. I currently supervise production and sales in one of the companies and having been around from its onset, I must say that it takes a whole lot more than #100,000 to start. On the positive side, the profits in this business are well worth every investment.
The goal of the article is to focus on the small scale capability of any new business.
Thank you for the contribution.
I like your reply, but there is no how small scale it is, you will still spend more than 100k
Hey Onyeka- How about partnership? You bring your knowledge and we fund the project and share the profit 70/30?
Wow awesome write up, it’s time for us the youth to rise up as the leaders of tomorrow and face the challenge ahead of us as the true leaders of tomorrow.
Are you a student or unemploy youth good with article writing skills contact me
you didn’t leave any contact address
You can reach me directly on [email protected]
Thank you for asking.
I a so much interested in the phone accessories business but as a first timer, how do I venture int the business? How do I get a lower price that can make me Brea even? Thanks. I await ur reply
You can get lower prices by purchasing from a direct large-volumed importer or importing directly by yourself from Asia.
Before you venture into it, find someone who’s into the business and get as much information as possible.
Thank you for asking.
To start phone accessories biz rent a shop or get a kiosk depending on ur area,i advice u as a starter go to Lagos wit 30k aside ur t fare u wil get ur shop filled up wit accessories,if ur area is not in good terms wit nepa build sockets for charging of phone
Please I want to go into juices production how do I go about it.
Please first visit a local juice manufacturing outfit to learn and understand how they execute their activities.
How can I learn to make liquid soap.
A google search will show you places in Nigeria to learn from.
You can start from there.
Thank you for asking Choji.
Hello..If you haven’t found a place to learn liquid soap.. You can contact me on WhatsApp via this number-08155555514.
whao! this is an eye opener. very good tips that open ones eyes to unnoticed opportunities around. kudos to u
Thank you for the commendation Abimbola.
Hi. More power to you. Do you have any suggestions on how and where to acquire training and equipment for the organic juice production, and is #30,000 enough for startup?
Thanx in anticipation.
You could either do a google search to find one or you could talk to someone who already sells organic juice.
Thank you for asking.
Am interested in the organic
[…] 10 Low Cost Business Ideas You Can Start With 100,000 Naira Or Less – Starting a business is largely perceived as expensive … made juice can be a profitable investment to make. Web design and development consultancy services cost almost zero … […]
i am interested in the tissue production.how go i got about it
We’ll add that to our to-write list.
For now, I’d advice a google search to get full information on what you need.
Thank you for asking.
Please am intrested in tissue production my number is 08063568670
Nice article. I am looking forward to start any of the ideas above aside from my blogging career.
Thank you for the comment, Ekpo.
Do have a great time.
Hello dear ,I will like to start up poultry farming or cultivation with 100,000 but I don’t know which is better for a startup and I don’t know how to go about it. Have a land already though but no equipments.
Please send an email to [email protected]
i need good ideas for small scale business but i have 200k to start eg stationary ,plumbing ,poultry
Nice one. Organic juice production will make me great. In fact I have started looking for a space today to start this business.
hi, I have ideal in singing career but I don’t know how to start, please can you help me out please
Nice post up there..
I’ve picked the one I’ll invest to
Wonderful tips you’ve got there. For one who’s interested in sales of fairly used phones and new power banks, including fairly used PCs, how do I get in touch with direct importers to cut cost?. Thank you.
excellent write up,i would have preferred the nanny but the site for the business is the challenge.keep up the good job
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