6 Lucrative Small Businesses you can Start With ₦50,000 or Below

The world is changing, and new business ideas and plans emerge every day. As of now, it is possible to start your own business with as little as ₦50,000 and generate daily income. In this content, we will reveal lucrative small businesses that you can start with limited capital.

Are you searching for a profitable business to start with ₦100,000 or less? Look no further. There are now business opportunities that require as little as ₦50,000 or even less to begin. The key is to seek strategies that can help you succeed in these ventures.

Currently, I’m operating 2 businesses I started with just ₦50,000 only, and they are fetching me a lot of money daily and monthly. You too can begin yours now, it’s never too late.

Below are the 6 lucrative small businesses that you can start with ₦50,000 or less.

1. Recharge card printing business

One of Nigeria’s most undervalued industries is the recharge card printing business. The majority of individuals end up snubbing this business since they have no concept how it is run. Well, I’m here to tell you that this venture is lucrative and it can also fetch you a lot of money with a small start-up capital.

In an era defined by the rapid growth of the telecommunication industry, the demand for recharge cards has reached unprecedented heights. The recharge card printing presents a remarkable opportunity for For anyone to tap into the lucrative business. Luckily, you can start with as little as ₦50,000 or less.

What you should know before starting a recharge card printing business

  • You have to comply with legal authorities: By Starting a legitimate recharge card printing business, you have to adhere to legal requirements. Begin by registering your recharge card business with the appropriate governmental bodies and securing any indispensable licenses or permits. Moreover, prioritize upholding intellectual property rights and trademarks associated with the telecommunications providers whose recharge cards you intend to print.
  • You need some equipments: To start this business, you definitely need some equipments and tools, and they are cheap to purchase in the market. You need a printing machine, software for printing the pin codes and many more.
  • Partnership with communication providers: Forge strategic partnerships with multiple telecommunications providers to tap into their extensive recharge card distribution networks. Fulfill their requirements, negotiate favorable terms and commissions, and cultivate mutually beneficial relationships.
  • Strategizing on marketing and promotions: Devise a holistic marketing strategy that captivates attention and entices customers to choose your recharge card printing business. You should also negotiate with retailers and shop owners, promising them best offers.

Here are the equipments needed to start a recharge card printing business:

  • Printing machinery – Specifically recharge card printing machine, printing press.
  • Stationaries – like inks and A4 papers for printing the recharge card.
  • A good smartphone or laptop.
  • Good internet connection.
  • Software for accessing the pin codes which are sent to you.

Note: With ₦50,000 you can get most of the items I listed above.

2. kerosene business

Kerosene business is a small scale lucrative business you can start with ₦50,000 or less. However, this business income pattern is slow and steady, you can’t expect to cash out overnight. This business is simply buying kerosene in large quantity at low cost, and selling them piece-by-piece in containers.

The truth about this business is that it does not look good due to the dirtiness and the unhealthy process related to it. Moreover, people who put those things aside and venture into the business are cashing out from the it.

Since your budget is just ₦50,000, you can start a small scale kerosene business. But do not expect higher returns. After a while in the business, then you can increase the capital and expand the business.

How to start a small scale kerosene business right now

  • Look for empty containers, most especially bottle water containers both in 35cl and 50cl.
  • Decide where the location of the kerosene business will be, and where to sample. It could be in front of your house, or in a busy market. Just look for a better place where you will get customers.
  • Go to the market and buy the kerosene. But you must buy from a vendor that sells at a cheaper rate so you can gain from your own sales.
  • Make sure you have a big basin where all the kerosene-filled containers will be placed in. Incase you don’t have, you can get one from the market.
  • Fill in the water bottles with the kerosene and sample them using a big basin.
  • Quickly decide the amount you are going to sell each of them. Make sure you sell the kerosenes are sold at the normal price.
  • Inform your friends and neighbors about your new kerosene business, promising them that you will sell at a cheaper rate.

3. Mini importation

In today’s interconnected world, mini importation has emerged as a lucrative business for People to explore and make money from. In case you’re just hearing about Mini importation for the first time, refers to the process of purchasing goods directly from overseas suppliers or manufacturers, usually in small quantities, and reselling them to your country for profit.

With the advent of e-commerce platforms, logistics advancements, and the growing trend of dropshipping, mini importation has become more accessible and lucrative than ever before. With just ₦50,000 or less, you can start earning money from this business.

I started this business with just ₦46,000 two years back, by today I am comfortably make hundreds of thousands naira monthly.

Benefits of Mini importation business

  • Cost effectiveness
  • Diverse products range
  • Higher profit margin

How to start Mini importation

  • Research and decide the products you want to sell. Important you make a thorough research and find out products on high demand.
  • Start small: After deciding the products you are going to sell, the next step is to purchase the products, but you have to start small. Start with smaller items that don’t cost much, and your budget shouldn’t surpass ₦50,000.
  • Purchase unique products that may not be available in the market. This strategy can give you a competitive edge and higher your profit margin. Make sure you look for fancy, new and unique products that makes work more easier.
  • Store products in your house. This is mini importation, so you don’t need a warehouse or a shop to keep or sell your products. The items you bought can be kept in your house.
  • Promote and market your products online: After getting the products you want to sell, then you can start promoting and marketing your products online. Platforms like Jumia, Konga and Jiji can help you sell those products faster. All you have to do is register on any of these platforms, upload nice photos of your products and place price tags on them. The others will be handled by the platforms. Moreover, you can also sell their products offline.

4. Snacks making

If you know how to make snacks like meat pie, egg roll, moi-moi and other snacks, and you know how to make them very well, then you don’t really need a job. Such skill can put you in a position where you can money daily and live comfortably. This business involves baking and frying snacks and selling for profit. With ₦50,000 or less, you can start snack making and make profit.

Moreover, if you don’t know how to bake meat pie or fry egg roll, then there are platforms where you can learn how to make them. It is just a matter of time, devotion and determination.

With your ₦50,000 start-up, you can make up to ₦3000 daily from snacks making business. With time, you can increase capital cost in other to also increase your profit margin (up to ₦10,000 daily).

Major requirements for snacks making

  • Startup capital
  • Frying pan
  • Flour
  • Grandnut oil
  • Oven

5. POS business

This business is one of the most lucrative small scale business in Nigeria. It is no more surprising why a lot of people are venturing into this industry. POS business is all bout giving out cash or transferring money to a consumer through a POS in exchange for a small fee. However the fees or commissions for each transaction varies.

To start POS business and succeed, you need a minimum of ₦50,000. So what are you waiting for? Why not start this business, especially now that the federal government have placed a strong policy in cashless policy.

6. Okrika (Fairy used) business

If you reside in Nigeria, you must have heard about Okrika clothes, right? You probably have one or two Okrika in your wardrobe. These kind of clothes are part of our everyday lives, and that alone shows how lucrative Okrika Business will be. Okrika business is all about buying fairy used clothes from abroad in bundles, and selling them for a moderate price in your local market.

Despite how lucrative this business is, you can still start one with as little as ₦50,000 only. Luckily, you don’t even need a shop to start with, you only need a small empty space where a lot of people can be found.

Conclusion: You can start any of these businesses I listed below with with a start-up capital of just ₦50,000 or less. However, if you are not determined or have a burning desire for the business you choose, then you may end up not unsuccessful.

Start a business now, but always remember to come up with a good strategy, that’s all. You can also checkout how to start a spare part business at ikoku market if you decide in portharcourt.

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