Do you have ₦50,000 and you are wondering what business to start? Check out these lucrative business ideas.
Are you thinking of starting a new business but do not have huge funds?
Do you have dreams of being a business owner, and you are looking for one that requires little capital? Do you have ₦50,000 and you are wondering what business to start?
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If you answered Yes to any of these questions, then this article is just right for you.
Starting most businesses would require a substantial amount of money, but some businesses do not require much capital.
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Best business ideas to start with ₦50k
In case you are wondering, here are ten businesses you can start with just ₦50,000;
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1. POS vendor
A good business idea to start with ₦50,000 is a Point of Sale (POS) business. It is no longer news that more Nigerians now prefer to use POS vendors for their financial transactions rather than going to queue up at the bank for hours. Hence, a POS vendor is always in high demand.
This business idea is also cheap to start as all you will need is a table, chair and the POS machine itself, all of which will cost less than ₦50,000.
POS vendor is always in high demand [Nairametrics]
2. Content creator
If you are looking for a business to start with ₦50k, then content creator is just the right fit for you. This is one business idea that has grown over the years to become a blossoming industry. As a content creator, you post different content on social media such as videos, pictures or any other content people will be interested in seeing to build a massive following. If you can get to this point, the money starts coming in.
On X, formerly known as Twitter, content creators can earn money by just posting content. You can also earn money by partnering with different brands, advertising different products to your large audience or via affiliate marketing.
Most people already own a smartphone, hence the only things you might need to become a content creator is data on your phone and maybe a ring light with a stand which costs less than ₦30,000 if you are going to be uploading video content.
You may need a ring light for video content [BBC]
3. Home tutoring
Another business you can start with ₦50,000 is home tutoring. There are always parents who require tutors for their kids who want to either learn a skill, help their kids with homework or after-school study. So, whether you have a skill you can teach to kids or you are great at teaching generally, you can always start this business.
What you will need is to make some flyers, distribute and maybe some money to cover your fare to the location you will be tutoring.
A cleaning business is also one that requires little capital to start. Lots of people are always too busy and usually outsource their cleaning, making the demand for this service to be high. You can easily start this business by printing some flyers to get the word out and also buy some cleaning equipment, all of which should cost less than ₦50,000.
5. Professional shopper
Just as people now outsource their cleaning needs, they also outsource their shopping needs which makes this a great business idea to start especially if you are good at shopping and know all the right places to get most items. This business also requires little capital to start as most of the capital comes from the client.
6. Daycare services
If you have a home that is spacious and tidy, a good business idea to start with as little as ₦50,000 will be daycare. The rise in demand for childcare services is what will make this quite lucrative.
So, if you love taking care of kids, you can make a little banner or some flyers to get the word out. Other things you might need to buy might be toys and maybe some learning materials to keep kids occupied.
7. Résumé writing services
A lot of people are job hunting and are always looking for how to write the perfect résumés and cover letters that will land them their dream job. If you have a knack for this, you can always offer your services to job seekers where you can either help them write their résumés and cover letters from scratch or optimise their résumés and cover letters so they can be better.
This business can easily be set up with ₦50,000 as what you need will be data on your phone to interact with clients and advertise your business. You do not even necessarily need a laptop for this as there are lots of apps on phones that can help create résumés in different formats.
8. Meal prep business
Do you love cooking? If yes, you can easily turn that into making money through meal prepping. Most people are too busy to cook and everyone loves to eat. Instead of going out to eat all the time, some people prefer to buy in bulk and refrigerate as this lasts longer and this is where your services come in.
You can offer to batch-cook food for the week and deliver it to your customers. Starting this business will not cost much if you already have cooking utensils at home.
People outsource meal prep these days [X oh Sas]
9. Sell digital content
Another cool business you can start with ₦50,000 is selling digital content. Do you have a skill that you can teach to others? You can use that to start a business. Whether it is a cooking skill, sewing skill, makeup or a language you can teach to others by creating e-books or online courses that are related to your area of expertise and sell to clients. As long as your digital content comes with great value, you will continue to get more clients.
10. Buying and selling
This is perhaps the most popular business that you can start with ₦50,000. You can choose any item to sell such as bras, panties, second-hand/ thrift clothes (commonly called okrika), bags etc. There is always a demand for these items and your first buy can be less than ₦50,000.
For this business idea, you can also do a little bit of dropshipping. This is a business model where you do not have to keep the products you want to sell in stock. Instead, you can advertise a product from a seller and when a customer is interested, you purchase the item and then send it to the customer. All you need to do is add your profit. Or you liaise with the seller so they can ship directly to the customer and give you your share of the profit.
There you have it, ten business ideas you can start with ₦50,000. Which one of these will you go for?
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