Last Updated on October 22, 2020 by Anselem
Let me guess, probably you’ve saved up some amount of money and you’ve been thinking of a business to invest your hard-earned cash with? Or you have decided to own your own business and be your own boss? Well, i must commend your insightful idea with a thumbs up 👍.
There are so many profitable 50k business in Nigeria you can actually venture in, make your profit and expand your horizon.
Sadly the situation in the country has forced so many Nigerians into starting up their own business. With the continual economy meltdown and inflation starting up your own personal business becomes a great idea. Not only will it make you be your own boss but also makes you have full control and manageability over your business towards growing it to be a huge and successful one. Therefore, if you’ve been searching for a business you can start up with ₦50,000 in Nigeria, then you’re definitely in the right place.
In this very article, I’ve outlined 10 profitable and industrious 50k business Nigeria you can actually start up and earn back your capital and make extra profit in few months time.
1. DIY skincare Business.
With the high demand in the beauty industry you can as well cut off your own chunk of revenue and be your own boss in DIY skincare business. Although this business requires expertise. Therefore there is every reason you must be a pro before starting up this business. You can simply join a DIY skincare class (which we offer) to learn the basics in DIY skincare.
₦50,000 can actually go along way to start up a mini DIY skincare business, you don’t really need a huge amount of money to start up this business, all you need to do is start in a small scale and gradually grow up the business to a big one. You can do that, by probably making and selling soaps example: skin glowing soap, skin lightening soap or even a hydrating soap, then gradually as you generate more revenue you can diversify your business into making other DIY skincare products. You can read how to start up a low budget DIY skincare business.
2. Goat Farming Business.
Talking about lucrative and profitable 50k business in Nigeria Goat farming business cannot be exempted. Goat farming business can actually reward you with lots of profits in months to come and you know what? ₦50,000 can go along way to provide 4-5 healthy goats for you. Goat meat is wildly consumed in Nigeria, infact many people prefer goat meat to cow meat because of its unique taste and richness in nutritional value, this is a more reason why goat farming business is really a lucrative one.
You can start up by buying 4-5 goats, ensure you buy more of females (nanny) to enhance more rate of reproduction.
In Nigeria the price of a small goat is sold between ₦5,000 and ₦10,000, while an average goat is sold between ₦10,000 and ₦15,000, and a big goat sold from ₦20,000 to ₦30,000. Read how to start goat farming business
3. Graphic Designer.
Graphic designing has been a full time job and generates lots of revenue for graphic designers in Nigeria. Although, this business also require special skills and expertise to keep you in the game. Let me shock you. A graphic designer can charge ₦3,000 – ₦5,000 for a single business logo not to talk of designing a business card, calendar, etc. Therefore venturing into this business is not bad at all. All you need to do is enroll in a graphic designing training class to learn the basics of graphic designing and find applications needed for your area of design.
Ohh. My lovely blogging. 🙂. If you think blogging is dead, think again!. Personally i started blogging since 2013 with no monetization intentions, and In 2017 i realized that one can make thousands of naira (if not millions) monthly through blogging. And ever since then, i can gladly say i never regrate being a blogger. Although, it’s not easy. Blogging offers multiple potentials towards making you earn money monthly with your blog, and with ₦50,000 you can actually set up a well designed professional blog. By choosing a niche (the area you want to blog on), purchasing a domain name, and a hosting plan. Read how to start up a blog
Blogging isn’t a means of making money over night. It needs patience and time, by patience i mean extreme patience with devotional time. Your success in blogging depends on how smart and hard you work. Gradually as your blog starts growing and traffic increasing you can monetize your blog with Google AdSense, Affiliate marketing and even get paid by big companies to advertise their products on your blog.
5. Cake Bakery Business.
In Nigeria many people have ventured into cake bakery business because of its high demand, I mean, who doesn’t love small chops? Definitely no one. You have to enroll into catering tutorial class to acquire the necessary knowledge in cake making. ₦50,000 can go along way to providing the necessary items to start up a mini cake bakery business.
And if you pop up the question, how lucrative is cake bakery business in Nigeria? According to Miss Ayobola Adesina, the proprietor of “Simply Elegant Cakes’’ in Lagos said, “The smallest cake ranges from ₦1, 500 and ₦2, 500, while others ranged between N100, 000 and N150, 000 and these are mostly wedding cakes”.
You can start up by making small chops and small cup cakes then gradually you’ll expand your horizon. At a time you can start up your own catering class business where you’ll train young catering students. It’s all a gradual process.
6. Fast Food Business.
Who doesn’t eat food? Not even a dog can say no. Fast food business is another lucrative 50k business you can invest in. This business requires small starting capital and trust me ₦50,000 will extremely go along way to start up. With as little as ₦20,000 – ₦30,000 you can start up a mini restaurant business.
Students, bankers, and other white cola job corporate entities are highly known to patronize fast food dealers. During my school days, the school cafeteria/canteen and other smaller fast food outlets are always filled up with students and some lecturers usually in the afternoon (12-1pm), having their lunch.
You can strategize your business plans by running a delivery service.
You don’t have to wait until customers come to your outlet to purchase food, you can as well take it to them. This works well for bankers and corporate entities due to the nature of their jobs, all your customers need to do is make their order known to you and you can take the food to them wherever they are.
7. Poultry Business.
Poultry farming business is also one of the most lucrative and income rewarding business in Nigeria. Although, the cons in this business are much, but with experience you can beat the negativity and become a successful poultry business dealer.
Broiler chicken is massively consumed everyday in Nigeria, this has made it a very demanding commodity which has made lots of entrepreneurs to venture into the business. Especially the choice of white meat over red meat makes the demand for broiler birds and other poultry products a choice of business for many people. The demand rises massively during festival and occasionally periods, like who doesn’t like chicken?
₦10,000 can get you half carton of broiler chicks (which contains 25 chicks). That’s a good starting point. You can use the remaining ₦40,000 to purchase feeds, drinkers, feeders and other essential items for poultry farming. Gradually you can expand your business and purchase more birds. Read how to start broiler farming business in nigeria.
8. Mini Importation Business.
You can actually start up an online small scale business importation business by importing and sell goods from China. Personally i can attest to how lucrative this business is, because my immediate junior brother and younger sister are into it. He imports and sells memory card, and other mini gadgets while my kid sis imports jewelries, such as necklace, pendants, chains, ear rings, finger rings etc, and resales them at a reasonable higher amount. And believe me when I say they’re definitely doing well for themselves.
With as little as ₦10,000 (which was the exact amount my kid bro & sis started with) you can start up your mini importation business. And when you have ₦50,000 at hand, then it’s definitely going to go along way. You can read how to start up mini importation business in Nigeria.
9. A Freelancer/Writer.
Are you a good wordsmith? Can you write contents that can play with people’s emotions both positively and negatively? Then congratulations, millions of people needs your service. Companies in Nigeria such as media agencies, blogs, online marketers and startups are happy to pay you well if you can create a high engaging contents for them. All you have to do is, get yourself a good functional laptop, create your portfolio and boom!!, start making your cool cash.
Some writers charge ₦1 per word. Let’s do the maths. If you happen to charge ₦1 per word and happens to create a 2,000 word counts content for a company. 1×2000 = ₦2,000. If you can attend to 10 customers in a week you’ll be making ₦14,000 per week. That’s totally fine if you ask me.
10. Perfumery Business.
Billions of people around the world uses deodorants. (Nigeria inclusive), and what happens when you start up your own perfume business? A door way to making cool cash huh? Hell yeah. Thousands of Nigerians are already into this business and they are really doing well for themselves.
₦50,000 can aid you start up perfumery business. You can enroll in a tutorial class on how to make oil perfumes or play with frangraces to make to formulate nice aromatic scent.
According to A perfumer Miss Aniekeme Ekop said, “perfume is a consumable so as an entrepreneur you need to look for a business that gives you a good profit margin with less stress.
“With the perfume business you can have over 100% profit, so 50k will give you a bundle package which gives you a 100% profit from sales depending on your salesman skills and target market.”
She added that the 3ml at wholesale can be gotten for ₦500 and sold at ₦1000 with a profit of ₦500 giving a 100% profit while the 6ml is purchased at ₦1000 and sold for ₦2000.
Ekop further gave a financial breakdown on how to be a perfumer with ₦50,000 as seen below
Cost Of Products
- 40pcs of 3ml 10k
- 10pcs of 6ml 10k
- 10pcs of 15ml 30k