#1: Sales of Used Mobile Phones
Almost everybody now owns a mobile phone, and the demand for smart phones is increasing everyday. Even though people buy phones every day, yet not everyone can afford a brand new one. There is a huge market for used smart phones for those who cannot afford brand-new ones. With as little as N100,000 you can start used phone business in Lagos especially in a big city like Lagos.
There are UK-used untested android and Blackberry phones that are selling in some Lagos markets for as low as N5,000 each.
You can start this business right from your home, or with a small space and table on any busy roadside, bus-stop or railway station.
#2: Sales of Bottled Water and Soft Drinks
Selling of bottle drinks and water is a lucrative business, because it is mass consumer product that is consumed in very large quantities everyday, especially in a country like Nigeria where the weather is generally hot.
if you live in a large city like Lagos, Abuja or Kaduna, then you could consider this line of business. You can start this business with much less than N50,000. All you need is a small space in a busy road, an umbrella, a steady supply of ice blocks and a big cooler in which to ice the drinks. You could even add sales of recharge cards.
#3: Sales Of Mobile Phone Accessories
Mobile phone accessories are things like phone chargers, batteries, ear pieces, USB memory cards, etc. Every day people have issues with their phone accessories, especially chargers, and need to change them.
This business can be a very lucrative business, especially if you are in a busy location. The units costs of the accessories are quite low, so you do not need too much capital to start. N50,000 is just about enough.
If you are ready for this business however, you will need to partner with a supplier that can guarantee you a steady supply of genuine products so that you can keep your customers coming back.
#4: Fast Food and Pastries Business
Everybody eats. But there are times when we do not feel like cooking, or cannot fine the time to, and would like to eat something light or simple – like a snack.
That is why fast food joints and Quick Service Restaurants (QSRs) will always be in business.
If you do not have the capital to set up one, you can start small in your home and be supplying small chops and snacks to fast food outlets and supermarkets in your neighbourhood. You may even deliver to offices during their break time, thereby saving the staff the stress and time of going out to look for food to buy.
#5: Plantain Chips Business
Plantain chips is a very popular snack in Nigeria, and it is a business you can go into with less than N50,000 capital. Start small and produce it in your home, or if you can find a suitable space.
If you prepare and package it well, you can be supplying shops and supermarkets in the neighbourhood. Or you could have retailers coming to buy from you in bulk to resell.
#6: Small Scale Poultry Business
Livestock products like chicken are expensive in Nigeria because we are not producing enough of them to meet the demands of our huge population.
You can start a small-scale poultry farming right in your backyard. Buy a big cage that can contain up to 20 chickens, and in 4 months you can be on your way to making good returns on your investment. And if you like, you can add the production of eggs.
With as little as N50,000 you’re good to go with this business.
#7: Office Supplies
Many offices tend to have a hard time procuring, and maintaining, an adequate inventory of everyday supplies like stationery, beverages, toners, photocopying paper, and so on. They would be more than glad to have someone take that burden off them.
So if you could approach them to work out an arrangement where you could supply those items at short notice, and get paid either on a weekly or monthly basis, you could actually be beginning a new and sustainable line of business. And that for as little as N50,000.
