Businesses you can start with N50,000 in Nigeria, in today’s business world, no sum of money is too small to start a company. Truth, many great businesspeople today started with a few thousand dollars and grew their empires through hard work and perseverance.
There are numerous enterprises that you might start with N50,000 and that have the potential to turn you into a millionaire. We’ll reveal businesses to you in this article to start with N50,000. These businesses can take off online, offline, or both.
Businesses You Can Start with N50,000 in Nigeria
Blogging
Businesses you can start with N50,000 in Nigeria, second on the list is blogging which is one of the most profitable enterprises to start with a small amount of money.
If you’re already a superb writer and willing to put in the effort, you’ll quickly join Linda Ikeji, Makinde Azeez, and Uche Eze’s ranks of billionaires.
You can blog about anything, but don’t get into anything simply because you’re interested in it. To excel in blogging, you must only talk about things that people are interested in. To get started in blogging, here are some helpful tips you can follow.
- Research the trending topics and choose one from the list that you think you can easily blog about. It would be better to blog only on tech or just entertainment than to blog about everything.
- Get your domain name. A domain name is what your website will be called. It could be techgenius.com. This should cost you about $13 but you can get cheaper deals from many companies.
- Next, you need to get your website hosted. Hosting could cost as much as $3 per month but you could get better deals using discount codes and coupons.
- With your domain and hosting in place, it is time to get a great theme. There are tons of free themes that would make your site look professional.
- Once your website is all setup, you can start posting. You can get a ghostwriter to post the first few articles for you.
- To get readers, start advertising your posts on social media platforms and focus heavily on SEO.
- When you gain a significant number of views and have over 70 posts on your website, you can expect to receive sponsored content from brands as well as sign up for Google AdSense.
Chin Chin Business
The cost of chin chin production is low so it is one of the businesses you can start with this amount, and the materials necessary are inexpensive and widely available.
The amount of money needed to start a chin-chin business is determined by how far you wish to spread your wings. Because you are low on cash, you will have to concentrate on a small-scale business for the time being.
Before getting started, you need to learn how to make a tasty chin chin that will give your brand name the marketing it needs.
You won’t be able to employ someone to make it for you with the amount of capital you have so it is best to pay someone to teach you the process. You can draft a business plan once you’ve completed the program.
A business plan will give you a more realistic image of the business idea, even if most people don’t think it’s that significant.
After you’ve made your strategy, you may go ahead and buy the chin chin ingredients and equipment. When you first begin producing and selling, you should set aside some dollars for promotion in order to gain customers.
Creating E-books
Businesses you can start with N50,000 in Nigeria, for starters note that the majority of Nigerians now spend their time online and rely on eBooks for knowledge.
If you’re unfamiliar with eBooks, they’re similar to conventional books but are available in a soft copy format that allows you to read them on your phone. To make an e-book, all you need is the ability to create and organize a book.
You can find hundreds of videos on YouTube that will teach you how to put everything in place. You can create a book on anything from tech to medicine, to children’s stories.
However, before creating an eBook, here is something you should know about the different types of eBooks trending right now.
eBook Courses: These are more like tutorials that help people to achieve something. These books could center on topics like how to build your website’s SEO, how to lose weight or learn how to program.
If you want to create an eBook course using your name, take note that you’d have to be an established author and own a website to build your brand before people would trust you enough to buy from you.
Kindle books: These are not really different from regular books but refer to ebooks sold on Kindle – Amazon’s book publishing platform.
If you decide to start your career on Kindle, you will need to focus on using foreign names as the authors because they will attract customers way faster than using your regular name. Also, you will be able to make a profit much faster due to the presence of an already-made market.
You could use funds from the N50,000 to hire ghostwriters to write the book for you and another part of the money to hire a good designer to make a great cover.
The remaining funds should go into advertising the book. You can create as many books on as many topics as you can find and get cheaper services to help you gain more profit.
Sales of Fairly Used Clothes, Shoes, or Bags
If you can find the perfect location, this is a significant business you can start with N50,000 in Nigeria which can bring you a lot of money.
Setting up a store in a textile market will attract a large number of clients, as many ordinary Nigerians rely on reasonably priced secondhand clothes, shoes, and bags.
N50,000 is just enough capital for you to start your own Okrika business. Take note that most people involved in the business usually focus on one aspect of it.
For example, you could focus on importing fairly used trousers rather than having clothes, shoes, and bags in one shop.
Sales of Hats and Caps
If you discover the proper location, this is another business you can start with N50,000 in Nigeria that can make you money quickly.
hats and caps are inexpensive, and hundreds of individuals are interested in purchasing them. If you travel to student neighborhoods, though, you will obtain better sales because they are more likely to patronize you.
You may put the caps in a bag and walk around school areas during busy days to make quick sales. You might also build a shed in whatever location you like.
YouTube Videos
Businesses you can start with N50,000 in Nigeria, everyone knows YouTube is a goldmine where millionaires are created on a daily basis.
The truth is that making money on YouTube requires more than just talent; you must also be consistent. You can get started if you have a smart mobile device or a camera.
You won’t have to rely on comedy skits all of the time, even if they are the quickest to make and the most popular.
You can make doodle videos with a doodle. These videos could range from instructional to educational videos about finances, movies, or music.
When you choose a specialty, it’s best to adhere to it and name your company something that’s related to it. You won’t be able to make money from YouTube right away but if you’re able to build your channel to 1k and above, you will be able to earn every month.