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what business can i start with 5k in nigeria

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what business can i start with 5k in nigeria

 what business can i start with 5k in nigeria

Nigeria is a large country with poor leadership that entirely ends youth financial empowerment in the absence of well-paying government jobs, which has increased poverty there by 20%. Due to a shortage of employment opportunities and a desire for young empowerment, nearly 70% of Nigerians say they want to launch their own business. This list of microbusinesses that can be launched in Nigeria with  5,000 or  10,000 was put together by us.
We have observed that obtaining a loan is not an especially simple process if you don’t own a business or anything else that could serve as collateral for you. As a result, it is nearly impossible for aspiring entrepreneurs to obtain a loan of sufficient size to launch a standard business at the outset.
You can get started with the businesses on this list. All of the business concepts in this article can be started by anyone with between 5,000 and 10,000 Naira.
No matter how little your business is, remember that having something to do is always preferable to begging. One can start a lot of businesses with 5k to 10k, but I’ll only name a few of them here that I believe will be more successful in Nigeria.

1.Buying And Reselling.

There are only a few people involved in this firm, and they are succeeding beyond your wildest dreams. This business is extremely profitable, and the best thing is that you don’t have to deal with the stress of working in a factory. This business does not require a shop, but it does demand a start-up investment of at least 10,000 Naira, depending on the product you will be selling.
This line of work involves classifying goods for online purchases and online resale. The lucrative aspect of this business is purchasing properties that have already been used and can be sold for a profit. If this business wants to create a good quantity of profit, phones and computers are the major target products.
The truth is that people sell their present mobile phones or laptops for a variety of reasons, some of which are due to an urgent need for cash to address a problem that is more important to them than their possession. In order to find a buyer more quickly, they will therefore list the home for an extremely low price.
All you need to do is meet with the seller to ensure that the item is in great functioning order and to confirm that the property actually belongs to the seller. Purchase the item, then re-post it for a 10k larger profit.
Olx.com, jiji.com, and efritin.com are the ideal places to conduct this transaction.
The same day or the following day, you will be able to sell that stuff just as quickly as that.
Repeat this until you’re able to lease your own shop. It’s an interesting industry, and some smart businesspeople are currently succeeding significantly with it in Nigeria.

2.Daycare center business

The demand for quality daycare management is growing every day. Many parents are working extremely hard to maintain a stable income for the family, which has left them with less time for the kids. and desire that their children be cared for by someone deserving.
Even if there are many daycare facilities, if you can enter the market with great service and originality, you will undoubtedly succeed in this business. You can easily start this business from your home without having to first set up a daycare facility.
Those without the funds to create a large childcare facility can still earn from this industry by opening a small nanny agency or babysitting service.

Some other small businesses to start in Nigeria includes

  • Freelance marketing
  • Home tutoring
  • Freelance writing
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  • Affiliate marketing
  • E-books publishing
  • Crafts business
  • Weight loss classes
  • Bead making
  • Exercise Instructor
  • Business plan writer

3.Noodles preparation business

Starting this business doesn’t cost much; depending on how you want it to look, you may start with as little as 5,000 to 8,000. This is the act of making noodles using bread and an egg to prepare the messiah; it need not resemble local cuisine if the Hausa men in your area do it instead.
You can create a neat location for it, construct a circle out of planks or plastic, and then cover the body with wrappers, ta-poling, or any other suitable covering to make it presentable and very neat. By employing takeout parks, you can conduct this transaction in advance.
Additionally, you could be supplying at break times to local office workers of that company. They will call you to bring for them as soon as you obtain their contact information. You might make 4 to 5k per day from this business if you give it some effort and try to operate it in a modern manner.
I know someone who runs this business, and his shop is usually busy since he did it in advance to the extent of selling noodles for 500 Naira per plate, which include chicken and any soft drink of someone’s, while some people look down on it while others are making it big on it.

4.Pure water/bottle water business

Pure water business could be a great option if you live in a populated area like Lagos because it doesn’t need a lot of startup money. You can launch this business successfully with merely 3,000 to 5,000 Naira.

You are not required to sell yourself. All you have to do is approach the individuals selling pure water or table water alongside the road and let them know you are willing to sell to them for less money than they are now paying for it.

Even you could hire some of the homeless beggars in your neighborhood to sell these sachets of pure water for you; for each bag they sell, they would receive N50 while you would keep the remainder. Buy them a hocking bowl for lunch and try to be pleasant to them. If God is with you, you can include table waters and canned drinks like team drink, etc. because those vendors sell more than 20 bags of pure water every day.

You can hire as many hawkers as you like, up to 10 or 15, to sell for you at various locations in Lagos. You can expect to make up to 3000 per day from this company, which is far better than begging or being unemployed. The price of pure water at wholesales is currently 80k per bag.

Conclusion

Do not establish a long-term business with little money just because you have read that those who do it are making millions of nails (Ex. blogging, fish farming, Agriculture, importation e.t.c). These businesses are good, but they require a long-term commitment because they don’t begin to pay off in the first year. Start out modestly and save up additional cash to invest in them; otherwise, you’ll look back and regret it. Starting is simple, but what matters is the profit. Many people who started blogging, fish farming, and importing businesses with minimal beginning cash in the hope of making millions in a short period of time end up giving up after suffering significant losses. thus exercise caution with the company you choose.

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