Although Rome was not built in a day, you can lay the foundation of your own “Rome” today. As the saying goes, every big thing has a beginning – which sometimes could be small. However, whatever your ambitions in business might be and regardless of the economic situation in the country, you can start an enterprise which is capital-friendly yet profitable enough to help you achieve great milestones by the end of 2021.
Whether as a fulltime or part-time hustle, you can start these seven businesses with ₦100,000 or less:
Are you a good cook? Then you could as well make money off it. The popular saying, “Man must chop”, has never been realer. Food is a necessity, so venturing into food business isn’t a bad idea. However, you have to create a niche for yourself based on your target market.
For instance, you can target high-paying clients like employees of banks and multinationals as their go-to person for lunch. You must ensure you meet their taste and other requirements. Some of what you need to start are food stuff, key ingredients and a cooker. Note: It is advisable you start your food business as a pre order service, to avoid waste.
2. Livestock & poultry farming
Poultry farming is one of the fastest growing agricultural businesses in Nigeria. This is partly because it is not capital intensive and you can get your ROI in just 5 months! Do you have a big compound? If yes, put that backyard to use. All you need to start👇
- Decide the type of livestock or birds to rear. Choose based on your target market and the season.
- Select the right location: You can use your compound space but ensure that the environment is free from predators.
- Feeding and medication: The feed should be highly nutritious. Also, regularly administer vaccines and medication to prevent diseases.
3. Thrift or ‘Okrika’ selling
Fashion business is one you can easily go for if you have eyes for what’s in vogue; indeed, looking good is good business. Okrika markets are in major cities across Nigeria including Lagos, Aba, Kano and Onitsha. Whether fairly used or new clothes, your customers are not farfetched. You just need to identify your target market, where they are and the type of clothes they prefer.
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Baking is a thriving business in Nigeria. Pastries are in constant demand as most people love to celebrate or at least mark their special days. From birthdays, to weddings, dedications, anniversaries, house warming, bridal showers, there is always a need for pastries. Even when there are no ceremonies, baked foods are filling and can be consumed as snacks.
5. Natural drinks and juice
Everybody wants a healthy drink but not many have the time to produce it. Learn the process, get the raw materials needed for the kind of drinks you would love to start with, a small refrigerator and branded bottles to position your business properly.
6. Candle making
The production of scented candles is a simple and affordable business you can go into from the comfort of your home. People want warmth in their homes; a beautiful scented candle makes everything brighter. Whether as a DIY master or a newbie, the process for basic candle production is easy to follow. It is also advisable that you customise or personalise your products to differentiate yourself from competitors.
7. Ghost writing
Do you consider yourself a skilled user of words? You can become a freelance writer and editor as a side-hustle or even a full-time job. Media agencies, blogs and online workplaces like Fiverr and Upwork are in need of your skill. Put it to work and begin to earn already.
No matter the business you choose to explore, you should SIGN UP on Paylink to enjoy an online payment solution with e-commerce tools designed to support your business growth.
Let us know your thoughts on the listed businesses – add yours as well.
Remember, Elon Musk’s net worth increased during a global recession and many uncertainties. With the right business idea and tools, you too can cash out in 2021. Don’t dull!