So you want to start a business in Nigeria but aren’t sure which is the most profitable? If this is the case, you’ve come to the right place.
Many people believe that beginning and running a business is difficult and costly, but nothing could be further from the reality.
In fact, it’s more possible than ever before to start your own business with little more than an idea and some elbow grease—and there are even many profitable businesses you can start with a very little startup cost
This comprehensive list of 17 top businesses in Nigeria with low startup costs and high profitability will help you find one that’s right for you and your situation—even if you have only N10,000 to invest
Unlike online businesses or online jobs, these businesses requires physical work and skills
Top 17 Businesss In Nigeria With Low Startup Costs
In no particular order, here are the top 17 Businesses in Nigeria with low startup costs you can so
1) Hair Braiding
If you can master a basic hairstyle, and you have an open schedule, becoming a hair braider is a great way to make some extra cash.
In Nigeria, hair braiding is one of the top-profitable businesses with low startups.
This business requires little investment and comes with flexible hours, which makes it ideal for stay-at-home parents and students who want to earn money on the side.
Just set up shop at your local market or rent out space from another small business owner and start offering your services.
Nigeria, while being one of Africa’s largest economies, has a large informal sector where many entrepreneurs thrive—and that includes hair braiders.
2) Tutoring
Tutoring is one of the top businesses in Nigeria with low startup costs. This business is mostly run as a passion, so you don’t need a lot of start-ups to commence business.
You can start with a free room in your house or rent a little space around your area and you’re good to go
It is a highly lucrative and potentially scalable business. Teaching someone how to read, write or do math better can be an easy sell—many parents who are unable to give their children extra attention will pay for private lessons.
You can also start with tutorials for Jambites and WAEC candidates and make a killing from it
Tutoring makes for a great low-risk startup because you can build a reputation as a tutor or teacher before scaling up your business.
If your tutoring business thrives, look into franchising your tutoring program, which could make it even more scalable. Plus, with franchise opportunities popping up all over Nigeria (and around the world), you might be able to avoid some of that startup risk after all!
A tutoring business may not be glamorous but at least you can serve several people in a day, unlike other businesses which only serve a few clients per week.
Not just that, being passionate about what you do will make it easy for you to continue your business success even when there are difficult times.
3) Car Washing
Car washing is one of the most profitable top businesses in Nigeria with low startup costs. It is an important industry in every major Nigerian city.
This business has become a necessity for many Nigerians as more people can afford cars every year.
They need someone to come by at least twice a week to keep them clean and shiny
This industry has been growing steadily over time due to increased automobile ownership and more frequent usage of automobiles on Nigerian roads.
There’s also a growing awareness about environmental protection among Nigerians which further increases the demand for professional car washing services in Nigeria.
But why should you enter into it?
What makes it stand out from other opportunities?
The first reason why you should consider entering into the car washing business in Nigeria is because of its low startup cost. It does not require large capital or huge investment, unlike other businesses.
It all starts with a bucket, sponge, and some soaps/chemicals then voila! You’re good to go.
The second reason why you should consider entering into the car washing business in Nigeria is because of its high profitability rate.
While most businesses take months before they start generating profits, car washing generates profits immediately after starting operation (you won’t even have to wait for 30 days).
In fact, if properly managed, your returns will be higher than what was expected within no time period at all.
These reasons make car washing one of the top profitable businesses in Nigeria with low startups and therefore worth considering.
Just have some basic knowledge on how to clean cars with water and detergents.
Car Wash Shops also have high chances of being visited by potential customers or clients who may visit your location again or recommend your services to their friends and families.
With start-up capital of N150,000 to N500,000 which you can raise from your savings or by getting an investor, you can get started
Therefore the car wash business might not require large capital as compared to other high-paying businesses but it sure pays well, especially when properly managed and organized.
This is a great way to start a small side income while still being in school or having another job and raising funds for your dream startup idea.
4) Tailoring
When you talk about profitable top businesses in Nigeria with low startup costs, tailoring is one of them.
With a startup cost of N200,000 to N300,000 and a potential annual turnover of between $150,000 and $175,000 per annum, tailor-making is an option that should not be overlooked by entrepreneurs who are looking for high profit at a low start-up.
You can either learn to become a tailor or find a good one. Either way, consider selling custom-made clothing online.
With enough skill and high-quality fabrics, you can run a very successful business.
Tailoring is also relatively easy to set up as a side business idea and requires little to no financial investment.
You’ll need some equipment, but again it doesn’t have to be fancy.
5) Crop farming/ Vegetable Farming
Vegetable farming or crop farming can be very lucrative in Nigeria. It has got to be one of those businesses in Nigeria with low startup and good profit margin.
For example, you can buy a bag of carrot seeds for 50k, put it in dry land, plant it, and harvest carrots after 3months and sell them at 500-1000k depending on supply & demand.
So there is a lot you can do about vegetable farming. Crop Farming is one of those top profitable businesses in Nigeria with a low startup costs most because people will find it easy to get into any part of Nigeria, which means it’s spread across all states in Nigeria.
If you can bring a good brand name coupled with your quality products, then by all means go ahead. With proper planning, preparation and execution anyone can run a successful farm business anywhere in Nigeria.
Most farm owners have not achieved their dreams through hard work alone but rather by applying some basic principles.
6) Housekeeping (cleaning services)
Housekeeping is one of Nigeria’s most profitable business ideas to start with a very low startup cost if you can think of it as a business.
If you already have experience working with residential customers, it’s easy to get into as an entrepreneur.
The key is to learn how to market your services to reach your local clients, but then once you do that, your service will spread by word of mouth.
Housekeeping services are generally very profitable and with good service, entrepreneurs will find it easy to get new clients.
All you need is a bucket of cleaning products, a mop or broom and dustpan, and a brush, then you’re ready to start a business!
This may seem like a rather dull business to invest in, but given how many Nigerian homes lack maids it is bound to grow.
So for those who cannot afford full-time housemaids, hiring a freelance maid once in a while makes sense.
Besides its profitability, another thing that makes housekeeping a great business is that there are few if any competitors in most areas, especially if you live outside Lagos.
7) Digital Printing:
If you have knowledge about digital printing, then starting a small-scale digital printing business should be an easy task for you.
Since many people prefer using flyers these days to advertise their products or services; there’s an increasing demand for digital printers all over Nigeria.
8) Furniture Making:
It has been observed that most Nigerians spend huge amounts of money on furniture every year.
If you want to put some light into someone else’s life while getting paid handsomely; Furniture making could be your ticket out of poverty.
When we talk about starting a business with low startup funds, I think nothing beats furniture making. When I say low funds, I mean less than ₦200k if you want to start by buying tools and materials directly from dealers.
The profit margin of selling good quality wooden items is very high.
9) Computer and Phone Repairing
Computer repair businesses are also lucrative because they require little investment.
You can set up shop at your home or rent a space near an office building where you’ll do repairs.
You only need some spare parts, screwdrivers, and pliers to start repairing computers and of course the skill
With a lot of Nigerian youth going into tech and online businesses such as Blogging, affiliate marketing, and the likes. The demand for phones and laptops has increased incredibly.
As a result, there is a huge market for computer and phone repairing business
10) Haircut Salon
A hair salon doesn’t necessarily mean big money – unless you open one of those fancy ones on Victoria Island or Lekki Phase One – but small salons make enough money for their owners.
If you know how to cut hair well, opening a small salon would not take much money albeit, it will make you a huge profit as long as you stay true and creative to it
11) FoodCart
This is another growing business in Nigeria with low start-up capital.
For food cart businesses, all you need is a cart, tables, and chairs.
Once you have these items, all you need to do is buy foodstuff such as jollof rice, fried rice, etc. Cook deliciously and then sell them on the streets.
12) Baking Service
Baking services are also great options for Nigerians looking to start a business without much cash outlay. You can bake cakes and sell them on the streets or through social media platforms such as Facebook.
13) Mobile Phone Recharging Station
Nigerians love mobile phones and use them a lot. There is also a high rate of epileptic power supply in the country which means there’s always going to be a market for mobile phone recharging stations. All you need is recharge cards and recharging devices.
14) Dry Cleaning
Dry cleaning businesses are simple to start. You just need a dryer and some detergent.
15) Event Planning
Event planning is a great business for those who are creative and artistic. All you need to do is organize events, whether it’s a birthday party or a wedding.
16) Gardening
Gardening is one of the easiest businesses to start. You just need seeds and seedlings, some tools, and fertilizer.
17) Caterer
Caterers are always needed at parties and other events. You can use your skills in cooking to start a catering business.
Conclusion
When Nigerians think of starting a business, most people usually want to start small businesses. That’s because it’s easier and more manageable to start a small business than a big one.
So If you’re wondering what type of profitable top business in Nigeria with low startup costs would work best for you, I believe the list above will help you make a good choice.
Good luck and happy money making