The best approach to a successful business career is starting small and scaling up. Some people always think that they must have millions of Naira before they can start and run a successful business. This is not true, you can still start a small business and raise money from there to start a bigger one.
The profitability of a business is not defined by its size, there are some small businesses that may even be more profitable than larger ones. There are some profitable businesses you can start with as little as 50k and be making huge income. Instead of you to continue waiting to have billions of naira before starting your dream business, why not start from somewhere and raise money for bigger ones.
What Busines Can I Start With 50k?
We cannot deny the fact that 50k may be too small today tart a business in Nigeria. We are not going to sound like some motivational speakers that would give you sweet business ideas that are not realistic with 50k, just to make you feel happy.
We are rather going to give you ideas that can be achieved with your 50k, even if the ideas are not going to appear so nice to you. It’s better we are real than polishing false ideas to make you happy. However, all the ideas we are about to share with you now are all very profitable, despite being a small scale business.
We are going to give you both online and offline business ideas that N50,000 can run successfully. So, just look through them and make your choice.
a. Offline Businesses To Start With N50k
1. Akara Business
You see those people frying Akara at that street/junction close to you , they are actually making a living from there. This is one of the businesses that people underrate, but it’s actually lucrative, especially when situated at a good location. The business does very well especially at a junction with good population, close to market, campus area, etc.
Akara is needed mostly for breakfast, and so the business is basically a morning business, usually from 6:00am to 11:00am, when everyone must have taken their breakfast.
2. Sale Of Rubber Slippers
Rubber slippers are always in demand, and does not have a specific season. A large population of average income earners and even some high income earners, use rubber slippers. Of course everyone uses bathroom slippers, and those are always of a rubber make.
With N50,000, you can get a good quantity of rubber slippers in different kinds. Then find a good market where you can always go to sell your stuff.
3. Beans & Plantain Porridge Business
Beans & plantain porridge is a very nutritious meal which has become a very popular “street” food, because you can hardly find it on restaurants, except from street vendours.
Many people love this meal but only a few people do it at a location. It does well especially in Campus environment, populated junction, mechanic site, close to markets – building materials market, timber market, etc.
4. Onions Business
As long as people cook everyday, onions will always be demanded everyday. With N50,000, you can get at least one or more bags of onions which you can resell in pieces, and make your profit. You may not necessarily need a shop for this business; you can find a good market, get a “stand” there where you will always stay. You can always put your onions on a wheel barrow or sample them on the floor.
5. Sale Of Nylon
Almost every business needs nylon for packaging items bought by customers. N50,000 is enough to start this business, and it’s profitable. You just have to get a good location at any good market, people will always come there to buy nylons from you. If you have a means of transportation like motorcycle, you can even make connections with some business owners so that you will be supplying to them.
6. Popcorn Business
In this business, all you need are just: a nylon sealer, which you can get for about N1,900; popcorn maker, which you can get for about N29,000; Maize, which you can get at least 50kg bag for about N13,500; Ingredients for about N3,500; and other little things you may need.
Just find a good location that would favour your business, especially places like: school environment, market area, busy junctions, etc.
7. Okirika Business
Just like every other things are now costlier than before, Okirika (UK used wears) are no exception. But with 50k, you can still get a a “Bale” of Okirika which is still in a good grade. According to our check, a bale of adult Okirika wears costs between N30,000 and above, depending on the grade. So, N50,000 can actually get you at least one bale, or you can even go for children wears, which I believe would be cheaper to get.
Most times, this kind of business may not necessarily require a shop. All you have to do is to find a nice busy market, get a “stand” there where you will always stay. You can be vising different markets, mostly on their market days.
8. Phone accessories
Phone accessories is a very profitable business, and may require a good capital to set up to a standard. But with N50,000, you can still do this business in a small scale size. You just have to get a good “stand” at a good market, then sample your accessories on a wheel barrow or any other means you may like.
9. Beans Business
According to our check, the average cost of one bag of white beans is from N30,000 and above. With N50,000, you can buy at least one bag and resell to final consumers. You just have to get a good “stand” at a good market, where you will always stay. You can always sample your beans on a wheel barrow or any other means you may like.
10. Scrap Business
Scrap business involves buying and selling of items that are no more in use; like metals/iron, rubber, and so on. This may appear to be a dirty business, but it’s actually lucrative. You must not move around with wheel barrow like most people do, you can make contacts with people that work in workshops and mechanic sites, so that you can always go there and buy your stuff.
If you have a motorcycle, you may even decide to move around from house to house and ask they have some scraps they can sell to you. After you might have gathered some quantity of the scrap, you can then take them to those that deal in larger quantities, and sell to them.
b. Online Businesses To Start With N50k
It may actually be easier to start an online business with a low capital like N50,000. This is because most online businesses may not necessarily require a shop or physical location; as you can do them at home or at your comfort place. The major things that are needed most times are just your smart phone/computer and an internet connection.
There are several online businesses which we have tested and trusted, and with N50k, you can do very well in any of these businesses. You can the link below to make your choice, all the online businesses listed there are profitable.
Conclusion
When there is not enough capital at hand for your dream business, it may be wise to start in small scale, raise more capital and expand or then change to your dream business. You must not actually wait to have billions of naira before setting up your dream business. You really want to start up a business, but thinking that the little you have won’t be enough to get started. But I want to change your mindset, and let you know that your 50k can really go a long way in starting up your life in Nigeria.
