When most people think of starting a business, they immediately feel chills or discouraged because they think you must have hundreds of thousands to start a worthy business. That thought process is untrue as there are many businesses anyone can start right now with as low as 100k naira.
If you do not immediately have this bulk of cash, you can source support from friends and family and decide to take small loans to balance up. You will surely be able to pay back without stress once your business begins in full swing. Below are 10 lucrative businesses you can start in 2022 with just 100,000.
10 Businesses You Can Start With 100k
- Selling of prepared food: Food selling is one of the easiest small-scale businesses you can start in Nigeria. With as little as 100k, you can buy some foodstuffs in bulk, set up your location, and begin.
Your 100k will go into the purchase of items like:
- Protein (Fish, meat, eggs)
- Seasoning (salt and seasoning cubes)
- Gas cooker e.t.c
You will also need a sitting area, plates, and utensils for customers to settle down to eat. Overall, 100k will help you start a small food business. This will be profitable in residential and office areas as most workers prefer to buy food during lunch breaks. Residents of some areas also prefer to purchase prepared food rather than cook it at home.
- 2. Pig Farming: Pig farming, also known as piggery, is another lucrative business you can start with as low as 100k in Nigeria. The last couple of decades have seen a steady rise in demand for bacon and pork meat, especially in the south-Southern and south-Eastern parts of the country. To set up a piggery, you’ll need
- A farm name
- Long and short-term goals
- Stock supply
- A location that’s close to your target market
With your 100k, you can buy two to four pigs, making sure you buy more females than males. On average, a single female pig can produce 10 piglets from one pregnancy and about two litters yearly.
- Fashion Accessories: This is one of Nigeria’s most common business ventures. You do not require much capital, it is highly lucrative, and you do not even need to have a physical location. You can set this up online on any social media platform- Whatsapp, Facebook, or even Instagram.
With as low as 100k, you can get
- Fashion bags
- Hair accessories e.t.c
You can choose to purchase your items in small quantities from local vendors or choose to import items from foreign sites. The goal is to buy various quality products and maximize profits as much as possible.
- Hairstyling/Barbering: Before you venture into the salon business, you must first be skilled in hairstyling and barbing. To start a salon, you will need:
- A location
- Hair attachments
- Salon Mannequin
- Hair dryer
- Hair straightener
- Washing hair basin
The cost of the equipment you need may vary depending on where and how you purchase them (new or fairly used). If you do not have a location ready, you can opt for home services or use your home.
- Shawarma Stall: It is no news that the shawarma business is one of the booming businesses right now in Nigeria.
Shawarma is a staple snack made of chicken or beef filling, common amongst the youths today. You can begin your shawarma business with as little as 100k or less. What you need:
- Skill: This is important as you can only keep customers if your snack tastes good.
- Location: This should preferably be in urban areas near offices, schools, bars, and hotels. These spots hold the heavy traffic of the target audience interested in your snack.
- Shawarma toaster
- Pots and utensils
Prices depend on where and how you make your purchases.
- Laundry business: A laundry business is another lucrative business you cannot go wrong with. People are busy with work, school, or even general life activities. It is, therefore, difficult for most to set aside time to wash their clothes. To get started, what you need is:
- A washing machine
The good thing about this business is you can decide to wash with your hands if you do not have electricity to power your washing machine, and you can do it all from the comfort of your home.
- Clothes Selling: Almost everywhere you look, someone is selling clothes. Both online and offline, the clothes business is always moving. Why? People must always buy clothes. As they outgrow or get tired of old clothes, decide they need new clothes for an outing, want to change their wardrobe, or even buy for buying sake, clothing must always sell.
This very high demand makes clothes selling a highly lucrative business venture. You may decide to get a location or open an online store and do it from the comfort of your home. All you need to do is locate the best markets for bulk purchases, go in with your money, purchase a bale or two, and start selling!
- Phone charging business: As the electricity supply in many parts of Nigeria becomes increasingly unpredictable, people must find ways to keep their devices charged. This is where you come in. To begin, all you need is:
- A good location (Preferably areas with poor electricity)
- Extension boxes to charge multiple devices simultaneously
- A generator
- Foodstuff business: The foodstuff business thrives just as much as the prepared food business. With as little as 100k, you can set up a foodstuff business. Before you start, you must consider that food prices are currently high, and you may not be able to include all the foodstuffs in your business at once with 100k. Depending on the area and demand, you can concentrate on two or three food items. Some food items you can choose are Rice, yam, beans, garri, eggs, e.t.c.
- Cake/pastry making: This is another highly lucrative business that you need the skill to start. With sufficient skill, you can use your funds to buy your baking materials and tools like flour, eggs, milk, a small oven, gas cooker e.t.c
You can choose to serve for occasions like weddings and birthdays and decide to take it a step further by making it online-based and selling cakes and pastries.
That’s it with our list 10 businesses you can start with 200k. You can also read our article on 10 businesses you can start with 500k. Now, if you’re finding it hard on raise money for business you might to turn to short-term loan to fund your business. We recommend Fairmoney considering they offer loans with low interest rate.