Let’s say, someone gave you 500k and you are searching for a business to start right now, But, you don’t have an idea yet. This article will show you different businesses to start with 500k in Nigeria, which will generate a good profit.
There are many business to start with 500k in Nigeria like food, bakery, poultry, ecommerce and event planning.
Other cheapest business to start in Nigeria include affiliate marketing, barbing, car wash, freelancing, Dropshipping, buying and selling of goods like clothes.
So, are you searching for a business to start with 500k in Nigeria or Business to start with 100k? This article will show you some of these businesses, how to kickstart and make profit.
List of business to start with 500k in Nigeria
Business to start with 100k
Starting a business requires dedication and hard work. As an entrepreneur looking for lucrative business in Nigeria. Starting with 500k is a good capital to start a business in Nigeria. Let’s begin with some of the best business choices to consider in Nigeria. All of these are guaranteed profit-makers if you do them right and are sure to keep you in business for a long time.
10 best business to start with 500k in Nigeria include:
- E-commerce
- Small-scale grocery store
- Logistics & Courier Business
- Event planning
- Beauty Salon
- Bookstore
- Car wash
- Launch a Food Business
- Printing Business
- POS Agent
1. E-commerce
The online world is full of information and knowledge on anything, including comedy and Jokes, but it can also be a place where you can sell anything and make money. When it comes to the internet, you can buy and sell anything and the opportunity is unlimited..
ecommerce simply means when you create an online store where you sell physical products like shoes, clothes, phone. First, before you start an ecommerce business in Nigeria, all you need to have is a product you want to sell and an online store where you will sell this product.
E-commerce is very easy to set up and to start you can use a free platform like offcamp.
2. Small-scale grocery store
Grocery stores are where you buy groceries like Fruits Vegetables, Meat and fish, Dairy, Can Drinks, Bread and baked goods. Owning your own grocery store is one of the best business to start with 500k in Nigeria. And it’s super profitable!
First, you need to understand the business and then find a good location to set up your grocery store. Location is very important in this type of business because, the more people reside in that location the higher it will be profitable.
3. Logistics & Courier Business
After covid 19 pandemic, delivery business in Nigeria skyrocketed. Many people moved into the business, you can’ work 2km without seeing one delivery bike. You can start this business, what you need is one or two motorbikes and a good rider that will do the Job.
Their job is to pick up and deliver goods for customers. Also, this business will require a government license, do some research before you start.
Logistic business is a good business to start with 500k in Nigeria and one the most profitable and lucrative business in Nigeria.
4. Event planning
Event planning is one of the lucrative business in Nigeria that will keep booming because we love partying!
Nigerians love hype, this makes us spend huge money to create a perfect party from burials to birthdays, weddings, graduations.
Nigerians spend millions creating the perfect ceremonies, because we want people to talk about the after event.
The event industry in Nigeria is a thriving field and more money to be made from it, easy to get started. This is one of business to start with 100k because you can start with birthdays.
Also Read: Daily Income business In Nigeria
5. Beauty Salon
Beauty salon is one of the lucrative business to start with 500k in Nigeria, both men and women can own a beauty salon business.
Humans, especially women, spend more to look good. What you need to get started is a good location, good beautician skills (yourself or hired help), and nice customer service.
6. Bookstore
A bookstore is a lucrative business to start with 500k in Nigeria. You begin with, getting different books like, romance, comedy, education, religions books and rent a space, fill it with books.
You should not focus only on new books because you can sell used books which are cheaper and more profitable.
Selling used books is one of the business to start with 100k in Nigeria. Whether you are selling new or old books, this business will continue to thrive..
You can also, create your own digital book in form of PDF or Ms Word and then sell it on platforms like offcamp
7. Car wash
Starting a car wash business is one of the most lucrative business in Nigeria. Over 11.8 million cars used Nigerian roads as of Q4 2018 data, this shows that they are a big market for cars wash in Nigeria.
To kick start this business, you will need space, equipment and a water source and then some capital.
8. Launch a Food Business
Business to start with 500k in Nigeria
Food business will always be one of the Top lucrative business in Nigeria. According to 2021 data, Average Nigerian household spends 80% of their income on food. There are different types of food businesses you can do both online and offline like Bakery, opening restaurants, Catering services, online food vendors (here, you deliver food to home and offices).
Food is a great profitable business to start with 100k in Nigeria. If you don’t have money to rent a space, you can focus online and then do home and office delivery.
9. Printing Business
Printing business is the most profitable business to start with 500k in Nigeria, which brings in daily income.
You will need equipment like Printing machines, and then a space/shop. You can focus on printing banners, t-shirts, books, magazines etc.. University environment is a very good location to set up this type of business.
10. POS Agent
This is a type of business that doesn’t require too much capital. You don’t even need a shop. Your focus should be a good location. If you already have a store where you do your small business, you can start this business.
Here is how to start a POS business in Nigeria
- A good location
- A Pos machine
- Some cash at hand
- Table and chair
Conclusion:
Lucrative Business to Start with 500k in Nigeria
Just focus and take action today. No better time to start than now.
To start a business, you also need to invest in it, have a goal and develop in the right direction!