Are you an entrepreneur or student who wants to start a business, but you don’t have much capital? In this article, Dockaysworld has analyzed 30 profitable and easy business you can start with 50K (50,000) or less in 2024 with actionable steps to take.
List of Profitable Businesses You Can Start With 50k in Nigeria
- POS Business
- Blogging
- Food Business
- Real Estate Agent Business
- Cleaning Business
- Liquid soap making
- Barbecue Fish/ Shawarma Business
- Baking & Snacks making
- Juice/ zobo/ smoothie making
- Egg distribution
- Sell Used Cars
- Catfish farming
- Tutoring
- Mini Importation
- Dropshipping
- Graphic design
- Website design
- Digital Marketing
- Affiliate marketing
- Freelance Writing
- SEO Consulting
- Selling Arts And Crafts Online
- Sell Photos
- Car Washing
- Thrift Shopping
- Printing And Branding
- Videography And Video Editing
- Publish And Sell E-Books
- Content Creator
- Start An Ecommerce Website
1. POS Business
A POS business costs less than N100,000 to start. Firstly you need to get a terminal with any Bank of your choice.
When you get a terminal, you can get a small kiosk or run this business from your house. In this case, you just need a banner announcing your services.
Next, register and start your business. Also, ensure that you get verified by your bank, register your name with the CAC, and get a bank account for this business.
We already explained the step-by-step process of how to start a POS business in Nigeria in our ultimate guide, endeavor to check it out.
Why Is It Chosen
- A POS business requires small capital to start and it is low maintenance.
- No need to rent a space, it can be done from your home.
- There is a huge demand for this business because people withdraw money daily.
2. Blogging
Blogging is one highly profitable business you can start with 50k or less right now.
You can become a blogger without spending on capital and can do it with existing resources.
Simply, create a blog in any niche you prefer and then write topics about it to educate your readers.
Your blog can be created for free or for a small fee on platforms like WordPress or Blogger.com.
If you pay for a subscription for as low as N15,000 or less you can get a custom server.
Enrich the blog with relevant material and get people to read it so that you can generate traffic and build a loyal readership base.
With enough traffic, you can make money online by monetizing your blog with display advertisements or affiliate marketing.
Why Is It Chosen
- Blogging doesn’t require much material to start.
- With a laptop, smartphone, and good internet connection you can run this business.
3. Food Business
The food business is an excellent business you can start with little capital.
The food business is important and with excellent culinary skills, you can make huge profits cooking for others.
Create a unique menu, a niche, and a market segment. Choose a market with a large return on investment.
Your customers could be oil and gas businesses, international corporations, business executives, and companies.
Find a good location to sell from, prepare simple foods like rice, pasta, and noodles for your first sales, and then start catering for parties and gatherings.
Why Is It Chosen
- People eat food daily.
- You can grow this business easily.
- Baking and snack-making can be added to the food business for extra income.
4. Real Estate Agent Business
Presently, the Real Estate business is said to be one of the most lucrative and growing ventures in Nigeria. And while it is not for the faint of heart, should you decide to go into it, you can make a lot of money by becoming a real estate agent. with Zero Capital. Yes, Zero!
As a real estate agent, you’ll help homeowners, businesses, and investors, buy, sell, or rent property, building, home, or land. You may also be involved in loan servicing, residential, and commercial properties.
The sweet thing about the real estate business is that you can start making money immediately from the agent or inspection fee a client pays for inspecting a property regardless of whether they make a purchase or not,
Some agents charge between N10,000 – and N20,000 for inspection fees or higher in places like Abuja or lagos.
When a client makes a purchase of any property through you, you earn a commission usually 10% of the total amount of the property bought.
For example, a client who wants to rent a house contacts you, firstly you take the client for an inspection of the available properties you have in your catalog, it’s good to always have multiple options for your client in order to have a high conversion chance.
So let’s say the house costs N150,000 you would earn about N15,000 if the client makes a purchase through you.
Now imagine just selling land that costs even 500k. do the maths! You could make serious money from real estate if you put in the work.
Nigerian real estate mogul, Bridget Adeyemi of LekkiAjahIkoyi, rakes billions of naira from the real estate business.
Earlier this year, she announced her biggest sale of a property worth 1.5 billion naira in Abuja.
Truthfully, in the real estate business, just the successful sale of one land is enough to change your story forever.
5. Cleaning Business
The cleaning business creates a house cleaning service for busy, middle-high income-earning families living in Nigerian major cities who just changed houses and need their new home cleaned. You could also clean offices regularly.
This business is a great side hustle you can start with at least 30k or 50k for getting essential materials you’ll need for cleaning.
Ensure that your company observes standard business practices that’ll make your customers keep coming back to you and refer others too.
6. Liquid Soap Making
Liquid Soap Making is one of the cheapest businesses you can start with 50k or less in 2024. With 20k or lower, you can get all the ingredients you need to make liquid soap and do it from your home.
It is an essential product needed for every home and the demand for it continues to grow. This business is so massive that companies can’t keep up with orders.
You can make your soap and sell it in unbranded plastic bottles. You can also register your business to make it more official and put your product in attractive packaging.
Your customers can be supermarkets, other retailers, restaurants, bakeries, caterers, offices, and housekeepers.
7. Barbecue Fish/ Shawarma Business
The barbecued fish and Shawarma business is something you can earn daily because these foods are eaten regularly.
You can make Shawarma and Barbecue fish at home and deliver them to offices, eateries, and restaurants or get a space in front of a bar or club and sell to people drinking.
Location is paramount when it comes to running any type of business. When you’re in the right place, you can attract the right type of clients.
You can set up shop in places like outdoor bars, car washes, or any other place people patronize frequently.
8. Baking & Snacks Business
Baking and snack making is a hot business you can start in Nigeria right now, and not just because Nigerians love to eat, but because of the incredible return this business brings.
Baking is similar to snack making and you can choose to run them together if you have the equipment for it.
This business is lucrative, you’ll bake ceremonial cakes and deliver them for events like birthdays, weddings, traditional marriages, graduation, or conferences. You can also make regular cakes or bread and display them in supermarkets and eateries.
9. Juice/ Zobo/ Smoothie Making
When you are in the Juice, Zobo, and Smoothie-making business, you’ll give people healthier alternatives to caffeinated soft drinks.
Furthermore, this venture is a lucrative, diverse, and high-demand business in Nigeria.
You could start by making these drinks fresh and selling them to clients in plastic bottles and then grow your venture with time.
Another good thing about is that the type of clients you’ll attract are people who’ll always need your products.
This can be gyms, hospitals, restaurants, dieticians, supermarkets, small shops, and individuals who are on a weight loss journey.
With a good recipe for these three drinks, you could penetrate the market with a unique taste, make huge sales, and ultimately become a household name in the minds of your customers.
10. Egg Distribution
Egg Distribution is a business that starts small and eventually grows into a big enterprise because people use eggs for many things and supply can’t keep up with the demand.
Eggs can be eaten or used to produce confectioneries, soaps, shampoo, face masks, adhesives, hair conditioners, and cosmetics. People will need eggs for a lot of things and you’ll be there to deliver.
To venture into this industry, first partner with reputable farms or wholesalers that produce eggs, next buy from them, and then redistribute to supermarkets, shops, fast foods, bakeries, retail stores, and residential areas.
Egg sales and distribution can be done even if you don’t have a vehicle and any means of transportation available can suffice until you start expanding.
11. Sell Used Cars
To start selling used cars, find cars that are for sale, get the owner’s number, and ask them how much they’re selling the vehicle.
With their permission take pictures of the car, and upload them on e-commerce websites or social media. Once the car is sold, the owner gets their profit and you get your commission.
Why Is It Chosen
- Selling used cars business can be done online.
- You won’t deal with the stress of shipping cars.
12. Catfish Farming
If you have an interest in agriculture then might we suggest Catfish farming.
With a budget of 50k, this business should only be ventured into if you already have an old tank or an enclosed space in your compound you can convert into a fish pond.
Once you have your repurposed fish pond, seek out other fish farmers who can sell fingerlings and feed to you so that you can use it to start up your own farm.
Keep in mind that Catfish farming like other agricultural ventures is a business that takes time to mature. And you can start enjoying your profits once your fish grows big enough to be sold. It is better to start this as a supporting business.
You can distribute fish to restaurants, hotels, resorts, bars, supermarkets, and traders in the market. You can also learn to make fish barbecue and sell it on the side too.
13. Tutoring
Tutoring is a profitable business and with enough knowledge of various subjects, you can make money teaching people what you know.
You might start with private home tutoring for children and adults in various subjects or sign up on platforms like Superprof or Udemy where you can sell courses online.
Likewise, you can use WhatsApp or Facebook to host exclusive masterclasses for dedicated students for a small fee.
14. Mini Importation
As a mini importer, you’ll buy items from foreign websites like Alibaba, Aliexpress, Zara, and Shein and sell them on Konga, Jiji, or Jumia.
Before starting this business, understand how it works so that you can earn well from it.
Some items you can import, clear, and sell easily are- shoes, clothes, hair, wristwatches, car trackers, phones, phone accessories, car trackers, and housing wares.
15. Dropshipping
In dropshipping business, you buy a large number of goods or products from manufacturers and help them sell them online on websites, Facebook, and Instagram.
Why Is It Chosen
- Little upfront capital.
- Dropshipping is easy to do.
- Flexible location.
- Wide range of products to sell.
- Lower expenses.
16. Graphic Design
Graphic design is a simple no extra cost business you can start today.
Graphic designers are among the most sought-after professionals in today’s corporate industry and they earn well too.
Design has a huge market you could tap into with this skill and if you’re dedicated you can cash out from this business in no time.
Why Is It Chosen
- Graphic design is a sought-after skill.
- The design market is huge and lucrative.
- You could design for hundreds of businesses globally.
17. Website Design
You can start a web designing business with a good laptop and computer programming knowledge. You’ll design websites or mobile applications for businesses and earn income.
Why Is It Chosen
- Web design is an in-demand industry.
- Web design can be added to a graphic design business for extra income.
18. Digital Marketing
With more companies taking their products and services online, Digital marketing has become an in-demand skill.
As a Digital marketer, you’ll help brands to connect with customers on the internet and digital communication channels.
It includes using email, web-based advertising, text or multimedia messages, and social media as a marketing channel.
Why Is It Chosen?
- Digital marketing doesn’t require capital and you can learn it for free.
- It can be done with SEO and freelance writing.
- Digital marketing specialists are well-paid and highly demanded.
19. Affiliate Marketing
An affiliate marketer assists businesses and individuals to sell their products online in return for a percentage of the profits.
The products you sell as an affiliate can be digital or physical and you can sell them online.
You can join numerous affiliate programs and use your links to promote items on specialized websites or social media.
Why Is It Chosen
- Affiliate marketing is an online business.
- Affiliates receive a commission for every product sold.
- You can join more than one affiliate program.
20. Freelance Writing
As a freelance writer, you’ll be hired to write articles, newsletters, website page descriptions, product descriptions, press releases, news stories, scripts, and advertisement scripts.
This business is sustainable because you get hired by other companies to write for their websites and get paid when you deliver an article.
With enough time on your hands and expertise, you can write for 1-5 different businesses and obtain income for all these jobs.
Why Is It Chosen
- You can write for multiple businesses at once.
- It is a stable source of income.
- You can get well-paying clients on platforms like Fiverr, Upwork, Freelancer, etc.
21. SEO Consulting
As an SEO specialist, you’ll help people’s websites show up on search engines, and implement practices that’ll help them increase organic traffic to their business.
SEO consulting is a lucrative business and it won’t go out of style because people constantly use search engines and need someone that understands how that system works.
Before you start your SEO business, gain knowledge in this field. You can take SEO courses on Hubspot or Coursera to solidify your skills and get a certification.
22. Selling Arts And Crafts Online
There is a huge marketplace for people to buy or sell handmade crafts and vintage items.
If you make beads, bags, shoes, Ankara outfits, and other fashion items you could earn money selling those things online on Etsy.
Etsy pays you when buyers buy your items. They take 5% of every sale and you keep the rest of the money.
23. Sell Photos
This business is linked to Graphic design and although it pays well, most people don’t know about it.
What you do is upload your stock photos, design templates, or footage to certain websites with huge user bases, then when someone uses or licenses your contribution you get paid.
Some of the biggest websites where you can earn daily from photos are Freepik, Shutterstock, Unsplash, and iStock.
To begin, you can borrow a camera if you don’t have one. You could also create designs and upload them, with no camera required.
24. Car Washing Business
The car washing business is prominent in Nigeria because it is highly needed by automobile owners who don’t have time to wash their cars.
With a good water supply and essential car cleaning equipment, you can begin washing cars for people.
You can expand to a bigger space where you’ll have a mini eatery for customers to wait. Here you’ll sell drinks, snacks, or football streaming services.
25. Thrift Shopping
Thrift shoppers buy cheap clothes from the market, repackage them, and sell them for higher prices on other platforms to people.
To start this business, buy good second-hand clothes, dry clean to get rid of dirt, repackage, and sell them online.
You must not have a physical shop to be a thrift shopper.
26. Printing And Branding Business
To start a printing and branding business without machine or skill, secure partnerships with printers, and promote their services online to customers.
When customers contact you, ask your printers for a quote for the job. If a customer patronizes them, you earn a commission for the referral.
27. Videography And Video Editing
A recent shift from written content to video content and storytelling has caused an increased demand for photographers, video content creators, videographers, and video editors.
If you are skilled in any of these areas, you could start earning from it.
28. Publish And Sell E-Books
Thanks to self-publishing and the creation of E-books, authors can earn money by publishing books online.
Publishing an E-book gives you control over the publishing. You’re responsible for writing, editing, formatting, creating a cover, uploading it on Amazon, writing a description for the book, and promoting it.
29. Content Creator
By becoming a content creator on platforms like YouTube, Instagram, Facebook, TikTok, and Twitter you can make good money online for free.
You first have to choose an interesting topic that you are passionate about and create videos on these topics.
Ensure that your content is captivating and visually appealing so that you can attract viewers.
When you have enough fans or traffic, you can earn money via advertisement or selling personal products to your fans.
30. Start An Ecommerce Website
With an E-commerce website, you can market some of the businesses we listed in this article if you have any of them.
Similarly, if you sell products offline, an online store will help you reach more customers.
Thanks to sites like WordPress, creating a website online is simple and domain customization is cheap.
Conclusion
Anybody can start a small business in today’s society, and thanks to these easy-to-start businesses we listed, low capital will no longer stop your plans.
