Last updated on March 2nd, 2024 at 05:43 pm
Which business can I start with 100k in Nigeria is a common concern among Nigerian people with living standard increasing becoming harder than before. So many Nigerian are looking for various to survive in this hard times. This guide will help you understand which business is good for you to start with 100k in Nigeria.
Just to summarize, some of the businesses you can do with 100k or 100,000 naira are Mobile Food Vendor and Delivery Businesses, Data Reselling Businesses, Poultry Farming Businesses, Selling Animal Feeds, Copywriting, Graphic Design, Selling of Clothes, Laundry Businesses, Shawarma Selling Business, Phones and Gadgets.
Which business can I start with 100k in Nigeria is a common concern among Nigerian people so we have compile a list of small businesses you can start with 100k in Nigeria.
1. Mobile Food Vendor and Delivery Business
With a growing demand for food delivery in Nigeria, starting a mobile food vendor and delivery business can be profitable. Requirements include a food truck, cooking utensils, and a good supply chain. Estimated profits per day can be up to ₦10,000, depending on location and menu. Best locations include busy areas and events. Challenges include competition and food safety regulations. Benefits include flexibility and the potential for growth.
2. Data Reselling Business
The demand for data in Nigeria is high, and starting a data reselling business can be profitable. Requirements include a good supplier and a platform for reselling. Estimated profits per day can range from ₦5,000 to ₦20,000, depending on the size of the customer base. Best locations include areas with high data usage. Challenges include competition and finding reliable suppliers. Benefits include low overhead costs and scalability.
3. Poultry Farming Business
Poultry farming is a profitable business in Nigeria, and requires land, birds, and feed. Estimated profits per day can range from ₦5,000 to ₦20,000, depending on the size of the farm and demand for poultry products. Best locations include areas with high demand for poultry products. Challenges include bird diseases and high feed costs. Benefits include a growing market and potential for expansion.
4. Selling Animal Feeds
Starting an animal feed business can be profitable, as there is a growing demand for animal feeds in Nigeria. Requirements include a supplier and a store or location for selling. Estimated profits per day can range from ₦5,000 to ₦10,000, depending on location and demand. Best locations include areas with high livestock populations. Challenges include competition and sourcing high-quality feeds. Benefits include low overhead costs and a growing market.
Also Checkout: Businesses you can start with 20k and 30k
5. Copywriting
With a laptop and internet connection, you can start a copywriting business in Nigeria. There is a growing demand for high-quality content, making it a lucrative market. You can earn an estimated profit of N5,000 – N15,000 per day. The best location for this business is in urban areas with many businesses. The main challenge faced is the competition from established copywriters. The benefits of this business are flexibility and the potential for high income.
6. Graphic Design
A laptop and design software are required to start a graphic design business. Nigeria’s growing tech industry has created a demand for visually appealing designs. You can earn an estimated profit of N5,000 – N20,000 per day. The best location for this business is in urban areas with many businesses. The main challenge faced is the competition from established graphic designers. The benefits of this business are flexibility and the potential for high income.
7. Selling of Clothes
This business requires a small capital to purchase clothing items in bulk. Nigerians have a strong fashion culture, creating a market for affordable clothing. You can earn an estimated profit of N10,000 – N20,000 per day. The best location for this business is in marketplaces or urban areas with high foot traffic. The main challenge faced is the competition from established clothing sellers. The benefits of this business are the potential for high profit margins and a wide customer base.
8. Laundry Business
The laundry business in Nigeria has a high demand due to the busy schedules of individuals. With 100k, you can purchase a washing machine, detergent, and other necessary equipment. Estimated profits per day vary between 3k-5k depending on location and marketing strategy. A residential area with a high population would be the best location. Challenges faced may include finding reliable staff, competing with established businesses, and managing customer complaints. Benefits include a high demand for laundry services, flexible working hours, and the potential for expansion.
9. Shawarma Selling Business
The Shawarma selling business is a popular food business in Nigeria. With 100k, you can purchase a Shawarma grill, Shawarma bread, vegetables, meat, and other necessary ingredients. Estimated profits per day vary between 5k-10k depending on location and marketing strategy. The best location would be a busy street or commercial area. Challenges faced may include food spoilage, competition with established businesses, and managing customer complaints. Benefits include high demand for fast food, flexible working hours, and potential for expansion.
10. Phones and Gadgets
The Phones and Gadgets business is a profitable venture in Nigeria. With 100k, you can purchase some mobile phones, phone accessories, and other gadgets. Estimated profits per day vary between 10k-20k depending on location and marketing strategy. A commercial area or mall would be the best location. Challenges faced may include sourcing authentic products, stiff competition, and managing customer complaints. Benefits include high demand for gadgets, a broad customer base, and the potential for expansion.
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