What are the ways to start a business with low capital and high profit? It is well-known that establishing a private company or small business requires plenty of investments. However, what can you do if you are just a beginner who owns low capital, but has a great desire to work? Read to find out the answer!
If you dream of becoming a prosperous businessman, you will probably ask the question: “What business can I start?”. The problem is that it is rather hard to start any activity with low capital. Is it possible to compete with other businesses being just a beginner in Nigeria? In this article, you will find the best lucrative business ideas to start with little money!
Business with low capital and high profit in Nigeria
Nowadays people have the opportunity to start and run their business successfully thanks to a high level of progress observed in technologies and governmental reforms.
Do not afraid to start and do not afraid to fail. Any mistake is a lesson. One can’t learn how to reach greater success if he does not face difficulties.
What should you do now? Choose one of the low capital high profit business ideas and change your future!
The best business to start with little money in 2019
The small amount of money is not the reason to say “no” to your dream. Be calm, persistent and work on the result. First, you have to answer the question “What business can I do?” to define the niche. Then try your own product or service to be sure of its quality and profitability.
Study the most profitable ideas of business you can start in Nigeria in 2019:
- 100% organic skin care products. It is one of the most trendy business to start with little money now. During recent years, one could observe an increased interest in organic cosmetics. Furthermore, Nigerians seem to adore everything natural for hair, body, skin, and even nutrition. There are many local brands, which operate successfully in each state of Africa. According to the report by punchng.com, the beauty and skin care industry will bring approximately $34.5bn by 2021 in the Middle East and Africa.
- Makeup business. What can be better for a girl than a glamorous look with perfect makeup? Being a professional in the beauty industry is a rather profitable business. It requires low investments: on a course and materials. After finishing the course, it all depends on you how much clients will use your service. To attract their attention, you can organise a trial makeup for free to form a portfolio which can be placed on social media for advertising purposes. Even if you are a boy, do not be afraid to try!
- Delivery business. There are many delivery companies, which cater to the needs of large businesses. To start a delivery business, you need a vehicle and basic understanding of what you do and why.
- Ankara business. Ankara is a peculiar kind of material, which is still popular throughout Africa. It is used to create any type of clothes. If you think that it is too early to produce your own clothes from Ankara, you can become a distributor of this material in your city.
- Tutoring. It is another lucrative business in Nigeria with small capital. If you are keen on a specific subject or possess some useful skills, you can teach other people in groups. All you have to do is to find the space for a future tutoring centre, arrange a workplace in the most comfortable way for your students, buy some tools, toys (if necessary), appliances, and student books.
- Photography. Is there a person who has not dreamt of a professional photo session? Choosing this business, you should think like “your potential customer” and define the needs of your customers. Photographers are highly popular in African countries: for private events, online stores, fashion designers, etc. Moreover, you can always try to sell your images online at such websites as alamy.com.
- Run a bar. Even a small bar can turn into a profitable business if run well. At present, people like everything organic and fresh. Why not try selling refreshing drinks, smoothies, and juices? The bar can also be used for catering private events and parties. When people wish to relax, they are ready to pay more money for good service.
- Bakery business. Food was and still is one of the best options to try with low capital. Why not try to start a small bakery and produce fragrant buns, bread, and other tasty pastries? Furthermore, when you have your business reach a higher level of development, you can start providing catering services for big companies and offices. But first, you have to spend a little part of your budget on courses to know how to work with dough.
- Poultry farm business. Another profitable business you can run in Nigeria is poultry farming. You can start from a small poultry farm in the backyard, practice and develop your skills to become a big producer in the future. The first thing you have to do is to define what kind of production you wish to get engaged in. Chicken are breed either for eggs or for meat. Eggs are laid daily. The chicks turn in a broiler within 40 – 60 days (upon the chicken breed).
- Tailoring business. If you go mad about fashion, you can try one of the most popular ways to get a high profit with low capital. If you already have tailoring skills, you can start maing clothes for your friends at low prices first to create a certain “advertisement”. One-by-one, one day you will get a customer base, receive regular orders for something new and even can open your own clothes shop.
These are some of the best ways to earn money in Nigeria this year. However, if there is no activity you are keen on, perhaps you need more wise ideas, check out Top 10 profitable business ideas with low investment
Top 10 profitable business ideas with low investment
- tomato farming business
- organic farming business
- woodworking business
- electronic repair business
- call card business
- wine bar business
- transport business
- nursing home business
- cupcake business
- pizza and pizza delivery business
There are plenty of options to make money, but you have to define what product is of highest demand in your area. Only a clear understanding of the target market combined with a business plan can lead a small business to success!
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