To many, 200k might seem like a meager amount of money. They do not know that a business you start with 200k can turn out millions of naira for you in the coming years.
Thinking of starting a business? Can’t decide what business to set up? Below are 10 businesses you can start with 200k.
10 Businesses You Can Start With 200k
- Sports Viewing Centre: A sports viewing center is the best choice if you’re a huge football fan looking to start a little business. You get to make money doing what you love. With 200k, you can start a small-scale sporting viewing center and expand as you grow. You will need:
- A plasma TV(or two)
- A DSTV or GOTV decoder
- A generator
- Extension boxes for viewers to charge
- Benches for viewers to sit
As you expand and the money starts flowing in, you may choose to add more televisions and a refrigerator and make provisions for snacks for viewers.
- Phone Accessories Business: According to stats, Nigeria has 176.3 million cellular mobile connections. This is to show you the current percentage of phone users in the country. Each day, people find a need to buy accessories like chargers, phone cases, screen guards, earpieces, and other needed accessories. You can start a business to fulfill this need for just 200k. You will need
- A location/shop
- Shop furniture (Chairs, tables, display glass)
- The phone accessories
Depending on location, prices may vary. You must also source your merchandise from quality sources to win your customers’ trust.
- Sale of perfumes and cream: The sale of perfumes and creams will attract male and female customers. Everyone likes to smell good; everyone likes to glow. People invest heavily in what they rub on their skin and the fragrance they wear daily. With 200k, you can start a cream and perfume business. To make maximum profit and cater to a good number of people at once, it is advised that you diversify and have many brands of creams and perfumes stocked up.
200k can help you start this business on a small scale, and you can grow and expand as you make a profit and try newer brands.
- Mini Importation: Mini importation is for you if you love to diversify while in business. Mini importation is a leading form of small-scale business that allows vendors to buy or import goods from overseas directly from the manufacturers at a much lower price. You can choose to focus on a single item or diversify and sell a little of everything. Some items you can buy to start your mini importation business are:
- Fashion items
- Baby accessories
- Cosmetic products
- Electronic goods
- Hair extensions
- Health and wellness products
- Phone Accessories
- Groceries e.t.c
With 200k, you can get a shop full of items to start your business.
- Poultry Farming: With the availability of land, you can start a small-scale poultry farm in Nigeria with 200k. Poultry farming is a very lucrative business as you can get eggs and meat that you can sell for enough money. The profits aside, a lot goes into setting up the farm before the profits can start flowing in. You will need:
- Depending on your budget and cash, several birds (point of lay layers).
- Cages to accommodate the birds
- Cage pens
There is a very good market for all poultry products.
- Eggs: Eggs have numerous health benefits and are always in demand.
- Meat: After your hens have laid eggs all year and are maybe a little too old to lay anymore, you can sell them off as meat. Poultry meat is always in high demand.
- Waste: Poultry excretion can also be bagged and sold off to farmers as manure.
So you see, there’s a lot you stand to gain. All you have to do is start.
- Skincare Business: Skincare business is one of those businesses you cannot go into without the required skills. Once you are armed with sufficient knowledge to create quality products, you can start up your skincare brand. To start, you’ll need:
- To pick a niche
- Recognize your target audience
- Come up with your product ranges
- Get manufacturing products
- Get packaging products
- Gym Business: Are you a fitness enthusiast? Maybe a gym business is a way for you. Setting up a standard gym would cost anywhere between N500,000 and N5,000,000. But we don’t have all that money just yet. The bulk of the money that goes into setting up a gym is the cost of equipment and also location.
With 200k, you can get a few fairly used pieces of equipment and proceed to expand from there as you grow in your business.
- Frozen Food Business: Frozen food items are always in high demand in every neighborhood. It returns high profits as many people prefer to purchase frozen food items to prepare their daily meals. It is not a business that requires skill, and anyone can start this business. With 200k, you can get the most important items you need to start:
- Frozen food items
A frozen food business is very profitable, especially when you sell small parts. As your business grows, you can get bigger freezers and generators to keep your items frozen for longer.
- Baby accessories business: The baby accessories business is also lucrative because babies are born daily. Parents always want to buy practical and fashionable accessories for their little ones. To start up a baby accessories business, you can create an online store if you do not have a shop ready. With 200k, you can locate the best wholesalers or decide to import the items you want to sell from international manufacturers. Some of the basics of a baby accessories business are:
- Diaper bags
- Car seats
- Feeding bottles
- Baby carrier
- Baby Clothing
- Baby pacifiers e.t.c
- Cooking gas business: More Nigerians are switching to the cooking gas option as it is much easier and faster, making the whole cooking process less stressful and messy. People cook every day, so gas is always used up and has to get refilled. The cooking gas business is a highly profitable venture. To start, you must get training from experienced dealers on the basics of refilling the cylinder.
With as little as 200k, you can purchase many cylinders and other tools needed to start your business.
That’s it with our list 10 businesses you can start with 500k. You can also read our article on 10 businesses you can start with 100k. 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.