Each day, the cost of living for an average Nigerian increases. The economy is nothing to write about hence, the need to increase one’s sources of income is very important.
Considering that Nigeria is an entrepreneurial country, there are a lot of business ideas that you can start in Nigeria as a side hustle and make cool cash. Do not worry about these ideas. In this article, we shall explore the top 10 cheapest business ideas that can bring cool cash to your account. Pay close attention!
Top 10 Cheapest Business Ideas To Start In Nigeria
If you are looking for business ideas to start a profitable business with little or no cash, here are the top business ideas;
- Cleaning Services
- Transportation and logistics
- Laundry Business
- Social media management / Virtual Assistance
- Zobo business
- Affiliate Marketing
- Perfume oil business
- POS business
- Data selling business
Keep reading as we explain each of the business ideas below.
The first business idea on our list is a cleaning service. This business is capable of bringing tons of cash to your bank account if taken seriously.
This business idea entails offering the service of cleaning to people who need them. This could be companies, schools, restaurants, offices, and even houses.
You choose the number of days you work and how much you would want to be paid. This business idea requires little or no funds to start. Kindly reach out to companies, and houses that may need your services.
Transportation And Logistics
Another business idea that is known to be lucrative is transportation and logistics. You can make up to N10,000 or more in a day depending on the market factors.
It would be much better if you have a car, tricycle, or even a motorcycle. If you don’t, you can opt for a hired purchase vehicle or look for someone to buy one for you.
Furthermore, town service, bolt, Uber, company service, or even airport service are different services you can render in transportation and logistics.
People are becoming quite busy these days. Businessmen and women and even remote workers hardly have time to do their laundry.
You can step in to help them achieve that by offering laundry service in exchange for some cool cash. You do not need much money to start this business, you can start it at your home with some items like buckets, washing machines, hangers, detergents, and water. You can upgrade as the business booms.
On the other hand, you can act as a pick-up agency. This means that instead of doing the laundry by yourself, you can offer to pick up the clothes from the houses and offices of the clients at any notable and reputable laundry agency.
Once the clothes are done, you can pick them up and return them to the owners. Here, you act as a middleman between the laundry agency and the busy businessmen and women.
You can make some bucks for these ideas. People barely have time!
Social Media Management/ Virtual Assistance
Businesses have taken the internet to market and create awareness for their brands. This was triggered during the Covid 19 pandemic.
With this quantum leap in the number of businesses leveraging online space, there is a need for social media managers. Those who can help these brands improve their visibility, sales, and productivity with proven strategies and digital skills.
You can also be a virtual assistant by helping remote workers and businessmen with some micro tasks like scheduling emails, data entry, and others.
To be fit for any of these jobs, you must get trained to be able to handle some software. After that, you can start with free gigs, then build a strong portfolio for better jobs.
There has been a lot of awareness against the excessive consumption of minerals. You can ride on the wave to sell Zobo drinks and then make some cool cash from it.
You can start by selling the drink on a busy street or roadsides alongside other snacks. With time, you can upscale to supplying to other people, schools, and even organizations.
You need a small capital to start this business. Above all, you need to be committed to the business and work very hard to be the best Zobo producer and supplier.
Affiliate marketing is the new old mine. Affiliate marketing entails reselling other people’s products for a commission. You can do this offline and online.
Offline, you have to look for shops where products that suit your clients are sold, market them to prospective clients, and gain your commission based on the agreement between you and the seller.
Online, you can take pictures and even videos of the products and then post them on your social media pages, and even WhatsApp status. You can make up to 100K in a month base on your inputs and sales made.
Perfume Oil Business
You can also venture into the perfume oil business. You can sell them on the streets or roadsides, market from house to house, office to office, or even market them online.
When you get orders, you can waybill them to the owners wherever they are. You must have good marketing strategies and skills to enable you to make sales.
A little capital is needed. At least, N50,000 is good for a startup while you can make up to 50K to 100K profit by the end of the month.
POS business is another lucrative business idea. You can make up to 10K in a day if you are in a busy location.
You can start with a capital of N100,000 and then purchase a POS machine for at least 25K. If you earn more, you can have different outlets with people working with you.
Meanwhile, carefulness is very important to avoid shortages or mistakes which may result in loss of money and theft from criminals.
There is a lot of money in Agribusiness. This is because no matter how hard things are in the country, people will keep eating.
You can decide to grow vegetables and fruits, or you can go into snail, fish, or even pig farming.
Palm oil business is another lucrative Agribusiness you can venture into as a side hustle to make ends meet. And yes, you need enough capital to start this business.
Data Selling Business
With the quantum leap in the digital space, the demand for data for internet connection has increased in no small way.
There are websites to buy cheap data from and resell at an affordable price to others. You can also teach others this side hustle for a fee. Yes, you can make not less than 100K in a month from the data reselling business if you put in the work needed.
Remember, good customer service and honesty are very crucial for a successful business.
Frequently Asked Questions
What business is popular in 2023?
The E-commerce business is the most popular currently. In 2024, the E-commerce business is expected to rise to $6.3 billion in sales.
What is the most profitable business in 2023?
Online reselling or e-commerce is the most profitable business in 2023. Online teaching, consulting, and coaching are also inclusive.
What business to start with N5,000?
The most profitable business to start with N5,000 is Sachet/Bottled Water Business. All you need to do is to find a busy location and buy ice blocks to cool the sachet and bottled water.
You can make up to N3,000 in a day.
What business to start with 10K in Nigeria?
Branding business is one of the businesses you can start with 10K in Nigeria.
With the way the cost of living is increasing daily in Nigeria, you do not need to rely on one source of income. The ten business ideas we listed and explained above are guaranteed to bring in cool bucks to your pocket.
These business ideas need little or no capital to start. However, you must be ready to work the talk as business is not a walk in the park.
We believe that this article was helpful. Feel free to ask questions in the comments section below!