10 Business Ideas To Start With N100K In Nigeria That Will Make You Millions

I frequently get asked this question because I work closely in the entrepreneurship support field.

Taking into account the general interest in low-capital projects, I have compiled ten company concepts that can be launched for as little as N100,000.

It is entirely possible to turn this modest sum into millions with focus, diligence, hard work, honesty, consistency, and strong customer relationship skills.

1) Organic Drink Production and Sales

Given the rising awareness of health issues associated with processed foods and sodas, there’s a growing demand for naturally made drinks and fruit juices.

Products like smoothies, fura da nunu, tiger nut drinks, and freshly made fruit juices without sugar or additives are gaining popularity. Investing in the production and sale of these organic drinks can yield significant profits.

All that’s required is basic equipment like a blender, desired fruits and ingredients, plastic bottles, and a refrigerator.

2) Phone Charging Business

With the persistent challenge of unstable power supply in Nigeria, a phone charging business presents a lucrative opportunity.

Targeting individuals without alternative power sources, such as those in rural areas or at events like the NYSC camp, can ensure a steady stream of customers.

All that’s needed is a power source and a setup with multiple charging points to accommodate several phones simultaneously.

3) Production of Organic Skincare Products

The increasing demand for organic skincare products presents a promising business avenue.

Handmade bathing soaps, body creams, and body scrubs made from organic ingredients are fast-moving consumer goods.

With affordable materials and containers readily available, starting a skincare business is accessible to aspiring entrepreneurs.

4) Production and Sales of Bedsheets and Pillowcases

The necessity for bedsheets and pillowcases in every household makes this business idea highly viable.

By sourcing quality materials in bulk and engaging skilled tailors for production, entrepreneurs can capitalize on the constant demand for these essential household items.

5) Laundry and Dry Cleaning Services

Given the busy schedules of many people, laundry and dry cleaning services are in high demand.

Offering these services to households and businesses can yield substantial income.

Starting small with basic equipment like a washing machine and iron allows for gradual expansion as the business grows.

6) E-Payments/POS Business (Agent Banking)

With a sizable portion of the population preferring electronic banking transactions, becoming a banking agent offers a lucrative opportunity.

Setting up an e-payment outlet and providing services like cash withdrawal and deposits can attract customers who prefer the convenience of nearby banking outlets.

7) Grilling Business

The popularity of grilled delicacies like Suya, barbecued chicken, and grilled fish presents a profitable business opportunity.

Entrepreneurs can capitalize on this demand by setting up grilling stands at strategic locations or catering events.

8) Barber’s Shop

Regular haircuts and grooming services are essential for many individuals, making barber shops a stable business venture.

With minimal startup costs for equipment and a suitable location, aspiring entrepreneurs can establish thriving barber shops.

9) Popcorn Production and Sales

Popcorn, a beloved snack for people of all ages, presents a simple yet profitable business idea.

With basic equipment like a popcorn machine and ingredients readily available, entrepreneurs can start small and gradually expand their operations.

10) Football Viewing Center

Football is incredibly popular, which makes opening a viewing center a profitable business venture.

Business owners can draw in a consistent flow of clients by creating an atmosphere that encourages spectators to watch games on a big screen.

The sale of drinks and grilled snacks can create extra revenue streams.

These are small-scale business ideas that could generate large profits with little initial outlay of funds.

Success ultimately hinges on effective execution and a commitment to providing value to customers.

With dedication and perseverance, aspiring entrepreneurs can transform modest beginnings into thriving enterprises.