What Business Can I Start With 150k in Nigeria
150k looks like small money in Nigeria today, but do you know you can start a profitable business with it? Yes, it may seem small, but there are business ideas that can grow your fortune over time that you can start with.
Here I will be showing you business you can start with 150k in Nigeria. This list includes both online and offline businesses.
8 Top Businesses To Start With 150k In Nigeria
- Noodles Fast Food
One of the most profitable fast-food ideas is noodles, especially in school areas or public places. Here you don’t have to get a shop or restaurant. Depending on the size, you can get a kiosk, which can go for N50,000 or N70,000. Then you can get a gas cooker; a six inches gas is enough for you to start with, and which goes for N15 000 on the market. However, you can go for table gas, including a cylinder costing approximately N30 000. With N10,000 or even less, you can get plates, pots, and kitchen utensils. You can purchase or make benches and some rubber chairs to be more comfortable. So you can see that with 150k, your noodle fast food joint is fully set.
To make it fast in this business, you have to get a good location. Location is key here. From the statistics, it is found that the youth and young children cling to noodles more than the older youths. So school areas, public places, like parks or markets, or busy streets are perfect for such business.
- Phone Charging Business
We all know that electricity isn’t stable in the country, so you can take advantage of the problem to create wealth for yourself. The phone charging business is one of the fastest-growing businesses, especially when located in tertiary institution areas.
What You Need to Start a Phone Charging Business
- A small generator which cost about N70,000
- An electric socket board with multiple electric sockets. Depending on the size, you can make it for N10,000 to N15,000.
- Connecting wires and switchboard that connects the generator to the electric socket board. This will cost you approximately N7, 000 or even less, depending on your location.
- A covered or shaded stall: This is highly needed if you leave in somewhere like Lagos, where it is constantly rainy. This shaded stall can be a large umbrella with wooden support. It will cost you N10, 000 to get a good stall.
- Petrol for the generator; due to fuel scarcity, some filling stations sell fuel at N186 and as high as N200. So with N4,000, you can get 20 liters of fuel to kick start your business.
- Graphic Designing
Graphic designing is one of the profitable online businesses you can venture in. all you need here is a laptop, data, and the skill. You can enroll and learn graphic designing with N20,000, which can be less. All you need here is the right market, and boom, you are into money.
As a graphic designer, you can try out freelance sites where you can get jobs, and they include:
Local sites
For a global reach, you can try out:
- Phone Accessories Business
Phone Accessories like phone casings, power banks, earpieces, screen guards, and other phone accessories are among the fastest moving businesses in Nigeria. You necessarily don’t need a shop to start this business. You can get a kiosk, or better still, a moving pusher. If you are going with the kiosk, ensure it is located in a busy place or along the street.
- Food Vendor Business
Due to the busy nature of the urban cities, the food vendor business is one of the most lucrative businesses in the city. If you can cook and have great culinary and hygiene skills, you can make it here.
To fasten your growth, you can open an Instagram page where you showcase your recipes, and you can include an option for home delivery. This is giving you a hedge. So now, people who have to come to the shop can simply order and deliver it straight to them.
All you need to start this business is kitchen utensils and a gas cooker, which you can get with N50,000. Then you can you N30,000 to get little foodstuff for a start. You mustn’t even make a kiosk, you can get a big umbrella, benches, and tables, which you can get for N30,000, and boom, your business is up.
- Fruit Juice and Natural Drink Production and Retails
The demand for fruit juice and natural drink like Zobo is increasing in the urban cities due to the high level of people wanting to live healthily. All you need in this business is publicity. You won’t even spend up to 100k to start this business. All you need to get is a Juicer. You can get a manual Juicer for as low as N7,000 on Jumia and some clean bottles. Here, you have to engage all your social media handles to publicize your business.
- Dish Soap Production
The demand for dish soap, especially in urban is high. With N4, 000, you can make 10 liters of good soap dishes. Also, learning how to make dish soap doesn’t take time. You can go online and watch a YouTube tutorial on soap making, and within an hour, you can grab the steps and do some practice before you start selling it out.
To make it look authentic, you can register your business name on CAC, get a label and some bottles, and start delivering.
- Dropshipping
Dropshipping is one of the most profitable online in which you can earn a profit of 20% and 30% from each sale. Here you won’t even spend up to 150k to start. You don’t need to have a store or an inventory to start. All you need is your phone, data, and an online shop.
Conclusion
Starting up a business won’t automatically make you rich. You have to be intentional, consistent, and diligent about it. 150k, though small, can transform your finances.