Nigeria is one of the largest and fastest-growing economies in Africa. However, for many entrepreneurs, the cost of starting a business can be prohibitive. The good news is that there are plenty of low-cost business opportunities in Nigeria that can be started with minimal investment.
In this post, we will explore some of the cheapest businesses to start in Nigeria and highlight the potential for success in each of these ventures. Whether you are a first-time entrepreneur or looking to expand your existing business, these ideas can help you get started on a shoestring budget.
Freelance services are a great option for those looking to start a business in Nigeria without a huge investment. The great thing about freelance services is that you don’t need a physical office space or a large amount of equipment to get started. All you need is your skills and the ability to market them effectively.
One popular freelance service in Nigeria is freelance writing. As more and more businesses move online, the demand for content writers has skyrocketed. If you have a way with words, then this could be a great option for you. Freelance writing can be done from anywhere and at any time, making it a flexible business option.
Web design is another great freelance service to consider. Every business needs a website, and not every business owner has the time or skills to create one. As a web designer, you can create stunning and functional websites for your clients, and charge them for your services.
App development is also a lucrative freelance service.
The rise of mobile devices has created a huge demand for mobile apps. If you have experience in programming, then you can use your skills to create innovative and user-friendly apps for your clients.
Other freelance services that you can consider include bookkeeping, cleaning services, childcare, errand services, and lawn care. All of these services require little investment to get started and can be easily marketed to potential clients.
Overall, freelance services are a great option for those looking to start a business in Nigeria without breaking the bank. As long as you have a marketable skill, and the ability to market your services effectively, you can start earning money right away.
One of the cheapest businesses you can start in Nigeria is tutoring. If you are an expert in a particular subject, you can offer your services to students who need help in that subject. This could include anything from mathematics, English language, science, and social studies.
With the rising demand for academic excellence, parents are always on the lookout for tutors who can help their children improve their grades. As a tutor, you can work from the comfort of your home and choose your own schedule.
To get started, you can reach out to parents in your neighborhood or advertise your services on social media platforms like Facebook and Instagram. You can also consider registering on online tutoring platforms like Prepclass and Tuteria.
When it comes to pricing, you can charge by the hour or per session. The rates vary depending on your level of expertise and the subject you are teaching. On average, tutors in Nigeria charge between ₦1,500 ($4) to ₦5,000 ($13) per hour.
Tutoring is a great business idea for individuals who have a passion for teaching and a desire to impact young minds positively. By providing quality tutoring services, you can help students succeed academically while earning an income at the same time.
Another affordable business idea in Nigeria is event planning. Nigerians are social people who love to throw parties and celebrate life’s milestones. That’s where an event planner comes in handy. You can help your clients plan and execute memorable events such as weddings, birthday parties, corporate events, and more.
The first step to becoming a successful event planner is to identify your target audience and niche. Are you going to focus on wedding planning, corporate events, or both? Determine what makes you stand out from other event planners, and tailor your services to meet the needs of your clients.
As an event planner, you need to have excellent communication and organizational skills. You’ll be responsible for booking venues, hiring vendors, managing timelines, and creating a memorable experience for your clients and their guests.
To start your event planning business, you can market your services online using social media platforms such as Facebook, Instagram, and Twitter. You can also attend networking events to meet potential clients and partners.
The startup costs for an event planning business in Nigeria can range from NGN 50,000 to NGN 100,000, depending on the scope of your business and the services you offer. With dedication and hard work, you can grow your business and build a reputation as a reliable and creative event planner.
Homemade Food Sales
If you love cooking and have a knack for preparing delicious meals, then starting a homemade food sales business in Nigeria can be a great opportunity for you. With Nigerians’ love for home-cooked meals, you can easily turn your passion for cooking into a profitable business venture.
To start a homemade food sales business, you don’t need to rent a big space or invest a lot of money. You can begin by preparing small quantities of your best dishes and selling them to friends, family, and neighbors. Once you build a reputation for your delicious meals, you can then start advertising your business and increasing your customer base.
To ensure that your homemade food sales business thrives, you need to make sure that you offer high-quality meals that meet the standard of your customers. Also, ensure that you adhere to hygiene practices and prepare your food in a clean and safe environment.
One of the advantages of a homemade food sales business is that you can choose to focus on a particular type of food or dish. For instance, you can choose to specialize in baking cakes, preparing stews and soups, or cooking Nigerian delicacies such as Jollof rice, pounded yam, and egusi soup.
Starting a homemade food sales business is not only cheap but also offers flexibility, especially for stay-at-home moms or people looking to supplement their income. With dedication, hard work, and passion, you can build a successful homemade food sales business in Nigeria.
Social Media Management
In today’s digital age, social media platforms are vital for the success of any business. If you have a talent for creating content, engaging with customers and clients online, and understanding how social media works, starting a social media management business could be the perfect choice for you.
With the increasing demand for social media marketing, many businesses in Nigeria are outsourcing their social media management tasks. This presents a huge opportunity for entrepreneurs looking to start a low-cost business in the country.
To start a social media management business, you will need to have a good understanding of social media platforms such as Facebook, Twitter, Instagram, and LinkedIn, as well as basic design skills. You can offer services such as creating and managing social media accounts, creating content, developing social media strategies, and managing social media ads.
The good thing about social media management is that you can work remotely, and you don’t need a physical office space. You can start with a few clients and gradually scale up as you gain more experience and expertise.
To find clients, you can leverage social media platforms to market your services. You can also reach out to businesses in your local area or attend networking events to connect with potential clients.
Overall, starting a social media management business can be a lucrative and affordable way to become an entrepreneur in Nigeria. With the right skills, knowledge, and dedication, you can build a successful business that helps other businesses grow online.
Cleaning services are always in demand in Nigeria, making it a great business opportunity. The best part about starting a cleaning service is that it requires little to no investment and can be operated from the comfort of your own home.
All you need to do is gather the necessary cleaning supplies, create a basic marketing plan, and start reaching out to potential clients.
Cleaning services can be divided into two categories: residential cleaning and commercial cleaning. Residential cleaning involves cleaning homes, apartments, and other living spaces. Commercial cleaning involves cleaning offices, factories, and other businesses.
To start a residential cleaning service, you can advertise your services in your local area and start by cleaning for friends and family. As your reputation grows, you can expand your reach and start taking on more clients.
To start a commercial cleaning service, you can reach out to businesses in your area and offer your services. Many businesses are willing to outsource their cleaning to reliable and affordable providers.
Keep in mind that starting a cleaning service requires attention to detail, a commitment to quality, and a passion for cleaning. If you can deliver on these, you’ll be well on your way to success.
Mobile Phone Accessories
Mobile phone usage is very high in Nigeria, and this presents a great opportunity for entrepreneurs. Starting a mobile phone accessory business is a cheap and lucrative venture that can bring in good profits. This business involves selling mobile phone cases, screen protectors, earphones, chargers, power banks, and other accessories that are in high demand.
To start this business, you can start by setting up an online store where people can place orders for the accessories. You can also approach mobile phone repair shops or kiosks in markets where you can sell your products. You can also approach mobile network service providers to market your products to their customers.
Starting a mobile phone accessory business does not require much capital, and you can make good profits as the demand for these accessories continues to increase. You can also leverage social media platforms to market your products and reach more customers.
To stand out from competitors, you can offer competitive pricing and ensure that your products are of high quality.
In summary, starting a mobile phone accessory business is a great opportunity for entrepreneurs in Nigeria. With low startup capital and high demand, it can be a very profitable venture.
What Business Can I Start With 5000 Naira?
With 5000 Naira in Nigeria, you can consider starting a small-scale business such as selling products like phone accessories, fashion accessories, snacks, or beverages. You can purchase small quantities of these items and sell them through online platforms, social media, or to your local community.
What Business Can I Do With 20K in Nigeria?
With 20,000 Naira in Nigeria, you can start a small-scale business such as a mobile phone accessory store, a small food kiosk or cart, or a small-scale clothing retail business. You can focus on selling affordable and in-demand items to attract customers.
What Kind of Business Can I Start With 100,000 Naira?
With 100,000 Naira in Nigeria, you can start a variety of small businesses such as a mini supermarket or grocery store, a small restaurant or food delivery service, a beauty and cosmetics store, or a small-scale agricultural venture like poultry farming or vegetable cultivation.
Which Business Can I Do With 50,000 Naira?
With 50,000 Naira in Nigeria, you can consider starting businesses such as a small-scale printing and photocopying center, a home cleaning service, a small-scale laundry service, or a small-scale online retail business selling niche products or handmade items.
What business can be done with little money?
Several businesses can be started with little money in Nigeria. Some options include offering freelance services such as content writing, graphic design, or social media management; starting a tutoring service; providing home cleaning services; selling homemade food items; or starting a small-scale agricultural venture like growing herbs or vegetables.
Starting a business in Nigeria doesn’t always have to be expensive. By exploring the options outlined above, you can begin your entrepreneurial journey with minimal investment and a lot of passion and creativity.
While these businesses may require hard work and patience to build a steady clientele, with determination and commitment, success is definitely possible. Whether you’re interested in freelance services, tutoring, event planning, or any of the other ideas discussed, take the first step today and start building your dream business. Good luck!