Are there any low-cost or cheap business ideas you can start in Nigeria with little or no capital? Well, the short answer is yes; there are many cheap business ideas you can start in Nigeria today and make a ton of cash. The good thing about these business ideas is that they are incredibly profitable and fulfilling.
This article will explore some of the best low-cost business ideas to start in Nigeria. All you need to start any business are just the right ideas, little creativity, and little or no money.
1. Cleaning services
Cleaning services are one of the highly in-demand services that many people need in Nigeria. However, you need a little money to launch a house/office cleaning service.
Many homes and businesses will need your services, so you can start alone, and as your business grows, you can employ people to assist you with a heavy workload.
Here are a few cleaning tools you might need to kickstart
2. Microfibre cloths
3. Cleaning detergent
5. Mop, dustpan, and broom
6. Spray bottle
7. Scrub brush
2. Catering services
You can start your low-cost catering services with your kitchen cooking equipment. You only have to spend little money on the few things you might need that you do not have. Offer your services to events, meetings, individuals, birthdays, and other several occasions, which can be done as cook and delivery services.
So you can see you don’t need a physical space to start. In the beginning, try out with friends and families; as your business expands, you can increase your offers and buy more cooking equipment like food trucks, delivery bikes, or commercial kitchens.
3. Zobo business
The Zobo business has been profitable and offers a significant return on investment. If you need to learn to make Zobo, it’s basic and easy. You only need to watch a few short YouTube videos on how to make Zobo, and you are ready to begin. Some of these items are already in your kitchen, so buy only the ones you don’t have.
Here are a few items you need to get started
1.Pot, turning sticks, and bowl
2. Measuring spoons
3. Pet bottles
4. Bottles sealing machine (if necessary)
5. Zob leaves, ginger, sugar, and citrus fruit
4. Affiliate marketing
You can start an Affiliate marketing business if you want to launch a small-scale online business.
Affiliate marketing is a business model that allows you to promote other people’s products and earn sales commissions. To start an affiliate marketing business, you need a website and a good understanding of online marketing.
Once you have this, you can market other people’s goods in various markets, such as fashion, beauty, and technology. Then, as your business grows, you can broaden your product selection and target more customers.
Also Read: How To Finance A Small Business Idea In Nigeria
5. Event planning
Every day in Nigeria, people always have one event or the other, especially during the weekends and festive periods. Therefore, starting an event planning business will make lots of money.
You need to have a passion for organizing and coordinating events to offer your services to businesses and individuals for events such as weddings, birthday parties, and corporate events. Since it’s a low-cost business idea, start by planning small events for your friends and family.
And as your business grows, you can invest in equipment such as tents, tables, and chairs. But for now, stick with rental services.
6. Become a driver
Since we are discussing cheap or low-cost business ideas, you do not need to buy a car to become a driver. There are many ways you can become a driver without owning a car yourself. For example, you can become an Uber or Bolt, Lag ride driver, or use other mobility companies that exist in Nigeria.
You can look for someone willing to buy a car for you to use and agree on how much you will remit to him daily, weekly, or monthly. For this business idea, you need zero capital to start.
7. Perfume oil business
One of the cheap business ideas to start in Nigeria is perfume business. With as little as N5000, you can start a perfume business. Buy in small quantities from wholesalers and resell to customers. Do proper research about the products you will be getting since someone else is producing them. Do market research to ensure that your potential customers will be interested in the products or fragrances.
Consider dealing with a reliable supplier who will supply the best perfumes to you at the best price.
8. Baking and confectionery business
Do not overthink this; you do not need to own a bakery to start a baking business. If you can afford to get a standard oven, the primary item you need for baking. However, you can get an electric oven on Jumia for as low as N50,000. Other items you might need are a mixer, a baking pan, etc.
But if you can’t afford an oven, start with other confectioneries that do not require an oven, such as small chops.
9. Laundry business
Another low-cost business idea to start in Nigeria is the laundry business. The cost of the washing machine on Jumia is From N50,000, and you don’t necessarily have to open a physical store to start this business. Instead, you can do this from the comfort of your home.
Other items you might need are washing detergent and hangers. You can make a good living doing this from your house.
10. POS business
If you want to start a POS business, you will need a space; it doesn’t have to be a shop. You can share a space with someone. You can also do this from your house and spread the news about your business through word of mouth.
Let your family and friends know about your business, and you can start making money there.
To start a POS business, you will need to go to any bank of your choice and request POS, and they will tell you the requirement. Then, with as little as N30,000, you can begin your POS business.
Also Read: How to Pitch Your Business Ideas to Potential Investors
To start any business and excel in it, you need good business ideas like the ones mentioned above. And also need to be creative and strategic about any business you want to start.
Finally, we understand that these are cheap business ideas; however, we still advise you to do proper market research to know the pros and cons of the business before you finally proceed to execution.