Despite what many would think, 200k is considered a reasonable capital for starting a business in Nigeria.
In fact, most small scale businesses in Nigeria are launched with a capital of between 100k and 200k.
So, you shouldn’t feel overwhelmed if all you have to start a business is 200k, because in this post I’ll show you 10 fast-moving businesses you can start with that amount.
Let’s dive straight in.
Sell Quality T-shirts
Every one loves quality T-shirts, including yours truly. But the thing is, they are hard to come by.
I’ve bought a few T-shirts that I later regretted buying, it’s either that they get old fast or they just have too much text imprint.
If you have eyes for good T-shirts, then you could just buy them in bulk and resell for profit.
A pack of a dozen quality T-shirts could cost anywhere from 10k to 20k, and could be resold between 2,500 to 5k each.
Ideally, you could be making more than 100% profit if you can find the right customers.
Sell Men’s Kaftan
In recent times, Men’s Kaftan has become a sort of artefact. There are many vintages and several qualities to choose from.
They can be really expensive too.
So, why not go into the business of selling men’s kaftan?
You could market them online or sell them to business men, as it is often their default event material.
This business is fast-moving, and you cod be making a good stream of daily income if you can crack the market.
Palm Slippers Production
Do you know that almost every male adult in Nigeria has an average of 2 palm Slippers?
I have four.
Well, now you know. Men wear palm Slippers like their lives depends on it.
A palm Slippers can cost between 5k to 10k, depending on the quality, and could last anywhere between 4 months to 6 months.
So, on the average, men buy a new pair of palm Slippers every six months!
Multiply that with the number of men in just one state in Nigeria, and you would need no one to tell you that this buy is lucrative.
Mini-importation with AliExpress
Is there a product that you need but just cannot find it around?
That might be a clue that there are other people who needs the same product, and you should import it.
Mini-importation is not just a business for importing items that are popular, but importing items that are high in demand.
If you can find an item that is always in demand but often scarce, then you should find a way to import a few of that product to test the market.
You might just stumble upon a goldmine.
Office Lunch Delivery Service
How many times have you sat around your office wishing someone could just help you deliver a particular meal?
Well, I have on many occasions. I’ve had to swallow my saliva thought and let my wishes vanish into thin air.
But you could do something about it.
There are thousands of workers who need a lunch delivery service right from their favorite mama put.
If you have a favorite mama put outlet that gives you that delicious vibes, then maybe you should let others enjoy what you are enjoying too.
Simply link your favorite mama put outlet to the thousands of hungry and salivating corporates out there.
And maybe, just maybe, you might become one of the biggest food delivery service someday.
Hire Purchase Agent
I’ve always thought about this idea and I believe it might work.
Many people are willing to work but there are only a few reasonable jobs out there.
Now, there are several hire Purchase opportunities out there, but with the roadblock of demanding a down payment.
For example, many Uber partners would demand a down payment of 30% of the value of the vehicle.
Also, most tricycle (Keke) hire Purchase companies would demand about 5% to 10% of the value of the vehicle before leasing it out.
What you have to do is find people willing to work, and provide the down payment for them. You’ll then require them to remit payments daily to you until they own the vehicle.
You can add a 20% to 30% markup on the final remittance you’ll make to the leasing company, which is your gain for all the hassles.
You’ll require the driver of the vehicle to provide a responsible guarantor, and you will need to exhibit strong management skills to have any success out of this.
With 200k as capital, you can comfortably go into cryptocurrency Trading on Binance.
All you have to do is focus on one crypto asset and find buyers and sellers to trade with.
Remember that in a gold rush, the people who make the most money are not the miners or the investors, but the people who are trading the assets.
Crypto is just like another gold rush, and people are making a killing daily just by trading highly-demanded crypto assets.
Home Tutor Business
There is money in Home Tutoring.
Children these days have a wider range of interests and would require help outside of the classroom to perform optimally.
That is where you come in.
You don’t have to be tutor or know how to teach. All you have to do is find the right tutor talents to work for you.
Your capital would go into aggressive marketing and finding opportunities to network.
Female tutors are in higher demands, so if you are female with friends who love to teach, then maybe it’s time to start selling some knowledge.
POS Agent Business
POS Agent banking is taking over our streets!
And people are making cool cash just by sitting by the roadside with a POS machine in hand.
I guess no one ever thought a day like this would come, but it is happening before out eyes.
People are making between 5k to 10k daily just by trading money! And no, they are not banks. They are POS agents.
With a capital of 200k, you can start your own POS business comfortably and start offering banking services.
With 100k, you can set up a makeshift stand, acquire a POS machine and do some banner advert. The balance goes to your operations.
Then you are set to start making money on a daily.
Solar Power Vending
Solar power is still considered a new subsector of the energy sector in Nigeria, but it is growing rapidly.
With more homes looking to adopt alternative energy options, solar power vendors are making good money in selling panels, installing units and replacing batteries.
The market for this is huge!
And it is still relatively new and growing rapidly.
With 200k, you can set up a solar power Vending company that connects solar power companies to homes.
You can provide services such as payment collection, hiring solar technicians, and educating people about the advantages of using solar as an alternative source of energy.
It could be a lot of work though, but if you love being in the field and selling something you believe in, then this may represent a huge opportunity waiting for your taking.