Many people in Nigeria have dreams of launching their own businesses, but the majority of them lack the financial resources to do so. However, that should not be an obstacle that cannot be overcome. But let me ask you, are you looking for the cheapest business in Nigeria? If the answer is yes, then your search is over.
In this post, we are going to give you a list of the best and cheapest businesses in Nigeria. All you need is to relax and read. Let’s get right down to business without further ado.
Cheapest business to start in Nigeria
If you have been looking for a list of the cheapest business to start in Nigeria, below are the 6 best and cheapest businesses you can start in Nigeria and make daily profit.
- Poultry Farm Business
A poultry farm is a specific kind of agricultural enterprise that concentrates on the breeding and raising of birds for the purpose of producing either meat or eggs for human use. Chickens, turkeys, ducks, and geese are all types of birds that are considered to be examples of poultry.
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This company can generate a significant return with only a modest investment of funds. However, the amount of start-up capital necessary for a poultry farm business will vary depending on a number of different aspects, such as the size and type of operation, the location, the number and type of birds, as well as the facilities and equipment that are required. These factors include: If you don’t have the money to establish a chicken farm on a large size, you may always start one on a smaller scale with the money you do have.
2. Airtime Business
The sale of airtime is another low-cost business that requires little start-up costs and can be begun in Nigeria. In Nigeria, the product with the second highest demand should be airtime, after food. It does not matter where you reside, you can start this business almost everywhere in Nigeria. Perhaps it does not require much capital. You can get started with as little as N5,000, and then you can build it up later.
3. Data Reselling
Another thing that a lot of people in Nigeria, particularly young people, spend their money on is data. On the other hand, the vast majority of them have become weary of purchasing the standard data bundles that are offered by their SIM or by their bank. Finding a low-cost platform that allows you to sell data and get started in the business of reselling it is an excellent idea. This will earn you a good amount of money. In addition, you have the option of combining it with the airtime business given that the two are frequently interdependent on one another.
4. POS Business
A point of sale (POS) business can be a good option for a cheap business to start in Nigeria. This type of business can be relatively inexpensive to start, as it typically only requires a small investment in the necessary requirements, as well as some marketing to attract clients. As a result of the limited availability of ATM machines throughout the country, point-of-sale (POS) solutions are likely to be in high demand in Nigeria. Despite this fact, the market for point-of-sale (POS) solutions is likely to be competitive. This indicates that a successful POS business has the potential for both expansion and increased profitability. However, the most important thing is a perfect location.
5. Pure water reselling
This type of business involves making purchases of pure water from producing companies and then reselling that water to end users. Because it takes such a modest initial capital outlay, beginning this company does not demand a large initial financial commitment. The most exciting aspect is that you won’t have to pay for transportation because almost all of the firms in Nigeria that sell pure water will bring their products to you at no additional cost.
Because so many people in Nigeria consider pure water to be a necessity in their daily lives, the country is likely to experience significant demand for this commodity. Finding a dependable source of pure water and developing an effective marketing strategy to attract clients are two essential steps that must be taken in order for this business to be successful. You might also want to think about the level of competition in the area as well as the prices that are offered.
6. Selling Okrika clothes
The term “Okrika clothing” refers to second-hand garments that are brought into Nigeria from other countries and then offered for sale at a low price. This is an extremely profitable business that can be started with a relatively small investment. On the other hand, there are many different types of Okrika outfits; you can choose between male and female attire. It’s possible that you can combine the two if your financial resources will allow it.
FAQs – Cheapest business to start in Nigeria
What businesses Can I start with 10k in Nigeria?
you can airtime or data reselling for as low as 10000 Naira.
What should I invest 50k in?
POS business is one of the most lucrative you can invest 50K in Nigeria and make a good profit within some months.
How can I grow my money fast?
The best way to grow your money fast is to start a lucrative business or invest in a cash flow system.
Conclusion on Cheapest business to start in Nigeria
According to Yahya Godiwa said, “Any business you may start with a bigger number, you can also start with a lower amount; the quantity that will alter is the only thing that will change.” You can start any of the businesses that were listed above as the cheapest businesses to start in Nigeria if you have a small amount of money that you wish to invest in a business.
However, before beginning any of them, it is essential to take into account a variety of local considerations, such as the location, the level of competition, and others. We really hope that this post might be of some assistance to you. If you do, I would very much appreciate it if you could share it with your friends on social media.