If you are interested in knowing about profitable businesses to start in Nigeria with 10k, 20k or 30k, please read this article carefully to the end, especially if you are a student in a tertiary institution in Nigeria and you are looking for a business that will sustain you while studying for your degree.
It is no news that many bloggers have written diverse articles about highly profitable businesses that students of Nigerian tertiary institutions can start and be financially self-dependent, with no negative effects on their academic performances. These writers all quoted different amounts. For instance, they, in some cases, quoted amounts as high as one hundred thousand naira, which the Gen Zs like to call N100k. Others quoted amounts between 50k and 100k.
While this article was not written to disprove of their claims because business types varies and the startup amount should also be expected to be different, it aims to show the reader that there are many criminally underrated yet highly profitable businesses that are most suitable for Nigerian students, especially those from low-income families who are in the public universities and other tertiary institutions like the Polytechnics, Colleges of Education, Technical schools, etc.
In this article, I will show you businesses that you can start in Nigeria with as little as, wait for it, ten thousand naira (10k),
Profitable Businesses To Start In Nigeria With 10k, 20k, 30k
Before we highlight and discuss these businesses properly, it is important to let you know that the businesses listed in this article were carefully selected with the students’ needs in mind. The writer understands that the student doesn’t need anything that will become a distraction for the students who want to make money while studying. None of the businesses is one that will eat your profit or give you unnecessary stress in terms of weight. There are simple and easy-to-move materials. You can move around the campus with these products in your school bag or even a fancy polytene bag. Note that these businesses are not just for tertiary institutions alone, anybody that wants to make money can sell these products anywhere in Nigeria.
Remember, the amount required to begin any of these businesses is 10k. However, there is nothing wrong with putting in more money if you have the capacity to add more money. Left for me, I will advise you to start with 10k so you can prove me right or wrong.
What Are The Profitable Businesses To Start In Nigeria?
Note that you do not need any form of licence or membership to start any of the businesses we discuss in this article. they are all things you can walk into market, buy and sell to make your cool money.
Ready? Let’s go!
1. Selling Low-Cost Wears
Clothes are a primary need of every human being, same as food and shelter. There are people who want to look great every day without the need to pay much to achieve this goal of looking sparkling good. This set of people is your number one customer. What is even more interesting is that these people can be found on campuses of tertiary institutions in Nigeria. They are your friends and acquaintances. You attend lectures with them, talk with them, share items with them and probably sleep in the same bed in your hostel.
While others call them by their popular name, Okrika, or used clothes, I call them low-cost wear. The reason is that if you are deeply into this business, you will call them low-cost wear and not used clothes because a lot of them were sewn here in Nigeria, not imported from anywhere.
It is instructive to note that getting the high quality low-cost wear to sell at a good price in your business location depends on the place you buy your goods from. If you go to the people who import used clothes in bales, you will buy Okrika, but if you go to the place that I will show you in this article, you will buy quality, Nigerian made low-cost wear for all gender.
There are many places that you can buy low-cost wear in Nigeria and resell at high profit. However, I will stay true to my earlier promise to speak based on my experience.
If you want to make a high profit from selling quality low-cost clothes, Lagos must be your best destination to buy from. When I started, I used the popular Oshodi sales point, just opposite the BRT Terminal 2. If you are new to the location, just ask anyone to point you to where you can take BRT to Ajah. The Terminal 2 picture is shown below, and the low-cost wear sales point is directly opposite this terminal.
You can buy high grade low-cost wear like beautiful male shirts (long/short sleeves), jean shirt and trousers, corporate trousers of all materials for guys at a wholesale price.
How Much Is a Shirt Sold?
This will come to you as a surprise, but it’s very true. You can buy a sparkling male corporate shirt for as low as between N550 and N600. It is this low-cost because you are buying for resale. I go for male shirts because experience has shown that men buy shirts more than trousers and that is understandable because you can wear one trouser many times and people will not notice, but that can not be said of shirt.
If you are living outside Lagos and you are interested in starting this business, but you don’t have anyone to stand in for you, you can trust this writer to help you select the best and waybill to your location at a friendly tipoff.
2. Perfumes
Yes, perfumes! And it’s surprisingly not the regular perfumes that you think. It’s the oil perfume packaged in finger-length bottles. Without saying that those who are selling branded perfume don’t know what they are doing or are not making an enough profit from the business, you will sell the small-bottled oil perfume easily at huge profit faster than you will sell branded ones.
Notwithstanding its great quality, the small-bottled oil perfume comes cheaper than the branded ones and students a more likely to buy something of great quality for, say, N500 – N600 than pay N5k—N10k for branded perfume.
Where To Buy Oil Perfume in Nigeria?
Again, Lagos should be your destination because there are many producers of the product there, which makes the wholesale price extremely cheap. And just like the low-cost clothes, you can get it at Oshodi or Yaba, and any other place within the Lagos metropolis.
If you are interested in going into this business to make money to support your education and any other endeavor, it will be a good choice for which you will be happy you did, within a short period. Trust me, your first sales will shock you by proving the writer right.
What Is the Wholesale Price?
The interesting thing about the oil perfume business is that the product comes at a very unbelievably cheap price from the manufacturers. When I started, for instance, I bought a dozen of the perfume, which contains 12 bottles, for just N2k. Does that not come at a huge bargain price? It does.
Now, let’s do a little mathematics to show you how profitable the oil perfume business is. Let’s assume you sell one bottle for just N500, which people will gladly pay. Then multiply 500 X 12 and you will have N6, 000, which is an incredible 200% return on your investment. The example given here is for just a dozen perfumes. Now, imagine buying more than one dozen and selling a bottle for more than N500, depending on your location.
Do you know another interesting fact about the oil perfume business? You can negotiate the wholesale price to as low as between N1, 700 and N1, 800 per dozen. The perfume smells very nice and comes with different fragrances, giving your customers the opportunity to choose whichever fragrance they like.
3. Slippers
The number three business to start and make money on this list is the sale of slippers for both ladies and guys. There are varieties of slippers in the market, and they come in different designs for all gender.
While I haven’t done this business personally, I have someone who is doing it and is making serious money. This person deals specifically with rubber slippers. Some designs of this product come from the manufacturers for as low as N400 per pair, and you can sell for between N700 and N1, 000 per pair.
Conclusion
If you are looking to make easy money by doing a legitimate profitable businesses to Start in Nigeria with little to no stress, you can choose from the ones we have discussed in this article. They are small businesses that guarantee you huge profits. The writer of this article wrote from his experience as he is still selling some of the products listed in this article. Get started already because it’s your time to make money.
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