Last updated on March 2nd, 2024 at 05:43 pm
Which business can I start with 250k 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 250k in Nigeria.
Which Business Can I Start with 250k In Nigeria
Which business can I start with 250k in Nigeria is a common concern among Nigerian people so we have compile a list of small businesses you can start with 250k in Nigeria.
1. POS Business
With 250k, you can start a POS business in Nigeria. Requirements include a small shop, a reliable power supply, and a POS machine. Estimated profits per day range from ₦1,500 – ₦4,000. Best locations are busy markets and commercial areas. Challenges faced are competition, network issues, and security. Benefits include steady income, high demand, and flexibility.
Also Checkout: Businesses to start with 200k in Nigeria
2. Sport Viewing Centre Business
You can start a sports viewing center with 250k in Nigeria. Requirements include a television, cable subscription, and chairs. Estimated profits per day range from ₦2,000 – ₦5,000. Best locations are residential areas and areas with high foot traffic. Challenges faced are power supply and cable network issues. Benefits include a growing market, high demand, and low overhead costs.
3. Poultry Farming Business
You can start a small-scale poultry farming business in Nigeria with 250k. Requirements include a small farm, chickens, and feed. Estimated profits per day range from ₦3,000 – ₦5,000. Best locations are rural areas or areas with available land. Challenges faced are disease outbreaks, predators, and market fluctuations. Benefits include a growing demand for poultry products and high returns on investment.
4. Bakery
Nigeria’s large population and love for baked goods make the bakery business a lucrative venture. Requirements include a bakery space, equipment, ingredients, and labor. Profits can range from N5,000 to N20,000 per day. Ideal locations include residential areas and busy commercial centers. Challenges include power supply, competition, and fluctuating ingredient prices. Benefits include high demand, potential for growth, and profitability.
5. Sales of Phone Accessories
With the high demand for mobile devices in Nigeria, starting a phone accessory business requires a small capital investment. Requirements include a kiosk or shop space, a variety of phone accessories, and marketing. Estimated daily profits can range from N5,000 to N15,000. Ideal locations include busy commercial areas and near phone shops. Challenges include counterfeits and stiff competition. Benefits include the potential for high profits and growth.
6. Popcorn Business
A popcorn business can be started with minimal capital and equipment. Requirements include a popcorn machine, corn, and flavors. Daily profits can range from N3,000 to N10,000. Best locations include malls, parks, and cinemas. Challenges include competition, inconsistent demand, and power supply. Benefits include low startup costs, profitability, and flexibility.
7. Barbershop Salon
Nigeria’s grooming industry has experienced significant growth, making a barbershop salon a profitable venture. Requirements include a shop space, equipment, and skilled labor. Daily profits can range from N5,000 to N20,000. Ideal locations include residential areas and busy commercial centers. Challenges include competition and power supply. Benefits include high demand, profitability, and potential for expansion.
8. Mini Importation Business
Starting a mini importation business involves importing goods in small quantities from foreign countries and reselling them locally. Requirements include a reliable supplier, capital for product purchase, and marketing. Estimated daily profits can range from N5,000 to N50,000. Ideal locations include busy commercial areas and online marketplaces. Challenges include customs duties, shipping costs, and market research. Benefits include high profitability and the potential for growth.
9. Start a Solar Business
A solar business involves the sale and installation of solar panels and other related products. Requirements include a storefront or office, a team of experts, and marketing. Daily profits can range from N20,000 to N100,000. Ideal locations include residential areas and commercial centers. Challenges include a lack of awareness, high startup costs, and competition. Benefits include profitability, eco-friendliness, and potential for expansion.
Also checkout: List of Businesses to Start with Small Capital in Nigeria
10. Open a Mobile Agent Business
Mobile agent businesses offer financial services such as money transfers, bill payments, and mobile airtime top-ups. Requirements include a storefront or office, a mobile agent platform, and marketing. Daily profits can range from N2,000 to N20,000. Ideal locations include busy commercial areas and residential areas. Challenges include regulatory requirements and competition. Benefits include low startup costs, profitability, and flexibility.
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