There is a lot of lucrative businesses you can venture into that are extremely profitable. Some people who don’t have enough capital for start-up, usually start from small scale and as time goes on, they nurture the business into a vast establishment. In this article, I’ll outline 20 profitable business you can start with little money.
When thinking about venturing into a business and nurturing it, having the right mind set, coupled with the zeal, determination and perseverance will catapult you to success.
This article enumerates the most favourable 20 profitable business you can start with little money when there is limited amount of money and insufficient resources to start up a business.
Below are some categories of lucrative small business idea that you can venture into with little amount of money which will yield reasonable profit.
20 Profitable Business You Can Start With Little Money
1. Livestock Production
This is also known as Livestock farming and it is one of the Lucrative businesses in Nigeria today. You do not need to rent a yard nor a shade because, you can start this business right in your back yard in as much as you are able to take care of your livestock. It involves patience, being knowledgeable, and experience. Livestock farming which you can venture into and make profit are snail farming, goat rearing, cattle grazing, poultry farming, catfish farming and many others.
2. Importation Of Clothes
In Nigeria, clothes is an essential commodity. We wear clothes every day both indoor and outdoor. You can venture into the business of buying clothes from other countries such as China, India, France, Italy and different other countries then sell them here in Nigeria to make profit.
3. Exportation Of Agricultural Products
This involves the commercial activity of selling and transporting agricultural goods to a foreign country. Product such as cocoa, yam, groundnut, cashew, flour which are needed in high demand abroad can be exported. All you have to do is get registered with the Export Promotion Council of Nigeria, then you decide on which product you want to export. You can also sell your product within the country and still make profit.
minerals such as coal, iron ore, limestone and, bitumen and others are in abundance in Nigeria. With the financial capacity, good and trustworthy team you can venture into a mining business .
5. Crude Oil Distillation
building and owning a private refinery is another business you can venture into on a small scale. The oil and gas business is very lucrative and there are different ways of starting it. For example, you can start a petrol station, a kerosene depot or cooking gas refilling company.
6. Job Recruiting Agent
A lot of people in Nigeria are unemployed maybe as a result of not been able to find the right job. You can create a link between companies and those people seeking for jobs by becoming a recruiting agent and finding the right people for a particular job but before doing this, you must negotiate with different companies.
7. Creche Centre
Parents need a place they can keep their children as they go out to work everyday. They want a place where their children will be safe until they get back. If you have passion for kids and you are perfectly certain that you can care for them, you need to consider starting a day care centre.
8. Grooming Centre
Are you good at a particular skill and have the zeal to impact the knowledge you have to others? You can decide to establish a training centre where you empower people with the knowledge you have. For instance as a good fashion designer or photographer you can train people to have the skill. Same thing goes with having a knowledge of a particular subject such as Accounting, you can begin a tutorial class for those finding it difficult to understand the subject.
9. Waste Recycling
Human beings consume a lot of product which are manufactured inside disposable packs and this packs when thrown away they can not decompose. These waste need to be dispose properly to avoid pollution of the environment. You can negotiate with companies involved in waste management so as to supply them with such waste that can be recycled into other products.
10. Uniform Stitchery
Every academic year, schools admit new students into their institutions. These school need uniforms for the newly admitted students and most of them need uniforms for students who have out grown their initial size of clothes. These institutions seek out the best fashion designers to make these uniforms for them. If your passion involves sewing clothes then this is an opportunity for you to step up as someone who will sew the uniform for these institutions and make profit.
11. Writing Organization
When you enjoy writing as a hobby this is a business for you. You can make money as a freelance writer or write for a company willing to hire you. If you possess the skill and able to write proficiently, then you are good to go.
12. Customer Service
When people need to know more about a product or service they dial the call centre agency to makes enquiry. You can start up a customer care service in conjunction with a company or organization.
13. Food Processing Industry
Some food stuff can be process into other consumable food. You can establish a food processing industry such as vegetable oil production, oil palm processing, yogurt production, tomato puree production, garri processing, rice milling, fruit juice production. By helping others to process these food stuff you generate income.
14. Installation Of Electrical Power
Nowadays people seek for alternative power supply to run their businesses due to the constant power failure. As a result of this, there is an increased demand of other sources of electricity. Been able to install solar energy, inverters, and windmills can fetch you reasonable income.
15. Farm Produce
Agriculture is one of the mainstay in the country. Crops such as cassava, oranges, yam, plantain, oil palm, okra, vegetable and other food crops are part of our daily meal. These crops are consumed regularly therefore there is need to plant them in large quantities to meet the steaming demand in the society. Having a good piece of land is important if you want to venture into farming. These crops can be planted and when harvested sold in the market for cash.
16. Production of Bottled water
The consumption of bottled water and pure water in on a high increase due to the intense heat of the sun which causes dehydration of the body and lack of clean drinkable water. People therefore,need to take in water regularly to stay hydrated. You can decide to produce clean water and supply to the community at a price.
17. Printing Of Recharge Cards
Almost everyone in Nigeria has a mobile phone to make calls and also recharge their phones all the time. That is why there is so much recharge card business in Nigeria. You do not have to own a shop to start a recharge card business. You can start printing them out from your home. All you have to do is negotiate with the vendors get the necessary equipment and install the necessary files, follow the guidelines then you are ready to start printing.
18. Fast Food Joint
There are so many restaurants around but this doesn’t discourage you from establishing your own due to the fact that food is very essential to the body and we need food to stay healthy and have the strength to work. With the large population in Nigeria there will always be customers to patronize your restaurant especially students and workers are among the category of people that eat at a restaurant. The more reason to establish your restaurant in the study or business domain.
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19. Dry Cleaning Business
Most people are too busy and engross in their day to day activities that they do not have time to wash their clothes so they need the dry cleaning service. The more reason for you to consider this type of business and help people do their laundry for a price.
20. Bakery Business
In this business you don’t need to be a professional cook to own a bakery rather you need to have knowledge about the business. Finding a place for your bakery in order to be noticeable and attract customers is very important. Being creative is also an added advantage for a successful bakery business. As you start at a smaller scale, with time you make profit your business expands.
Top 20 Lucrative Businesses To Start With Little Amount Of Money
1. Livestock production
2. Importation of clothes
3. Exportation of agricultural products
5. Crude oil distillation
6. Job recruiting agent
7. Creche centre
8. Grooming centre
9. Waste recycling
10. Uniform stitchery
11. Writing organization
12. Customers service
13. Food processing industry
14. Installation of electrical power
15. Farm produce
16. Production of bottled water
17. Printing of recharge cards
18. Fast food joint
19. Dry cleaning business
20. Bakery business
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Above are the 20 profitable business you can start with little money. These businesses are extremely profitable, and can be started with little amount of money.
If you have any question, feel free to ask us in the comment section. Thank you.