13 Profitable Businesses to Start with N100,000 or Less in Nigeria

Are you looking for a business idea you can start with little capital? Then you have your answers here! Here are 23 businesses ideas to start with 100k in Nigeria. This blog post will help you you can select and execute with as little as N100,000. I did some research recently on profitable businesses that one can get started with 500k, but while researching that, I also found highly profitable businesses to start with 100k or less in Nigeria.

Many people are becoming millionaires in Nigeria almost every day from their personal businesses. Personal businesses are more comfortable and profitable. Some Nigerians are scared of starting a small, new business in Nigeria, given the economic situation and all that right now.

But the fact remains that many millionaires in Nigeria started with small capitals as you are about to and today they are known when it comes to business. You too can follow this guide and establish your profitable business today!

So if you are among the millions of people asking, “What business can I start with 100k in Nigeria?”, then make sure you read this financial guide to the end.

Let’s dive right in, shall we?

What Business Can I start with 100k

1.    POS (Point of Sale) Agent Business

So first on my list is the current-trending business: POS agent business. For some reason, this business has gained more ground in the hearts of many Nigerians. Currently, it doesn’t even cost N100,000 to start this business. With N50,000-N70,000 you can become a POS agent.

What you need to start a POS business in Nigeria

1. You’ll need about N25,000-N27,000K to get the POS machine.
2. Depending o your location, you might need around N30,000-N50,000 in cash for all your transactions.
3. Table, chair and an umbrella.

A POS agent in Nigeria can make up to 20,000 Naira and even more on a daily basis. You can also make less than that amount. This is because profits from the POS business depend on your location. 

2.    Catfish Grilling Business

Who doesn’t like properly grilled and well-seasoned catfish? This is another lucrative business you can start, especially if you find a busy location for the business.

3.    Food Stuff Retailing

Retailing foodstuffs is another business you can start with N100,000 or less. Simply get a shop in a busy location then buy foodstuffs like rice, garri, beans, oil, etc., and start retailing. To save more money, find a supplier that you can buy your item from for a cheaper amount.

4.    Dog Breeding

You can start with two puppies: a male and a female. They would be ready to mate if properly fed and cared for in less than a year.

Disclaimer: Please don’t start this if you won’t have the time to care for the dogs.

5.    Hairdressing and Hair Styling Business

The main thing you may need to start this business is hairdressing skills. If you can make people’s hair look beautiful, then what are you waiting for? Start your hairdressing business already. People don’t mind trying out new salons. And if you provide good services, they will keep coming back.

Read Also: How to share data on MTN Nigeria

6.    Event Planner

Nowadays, people hire an event planner to handle their events in a beautiful and well-organised manner. This may be because they have a lot of things they need to do. If you love a well-organised event, then you can start this lucrative business. Starting a business like this with 100k is super easy.

7.    Rental Services

You can start this business from the comfort of your home. All you need to do is find some equipment to rent out and get paid. This equipment can be potted for events, canopies, tables and chairs, etc. People need this equipment, but not everyone has it, so you can bridge that gap.

8.    Car Flipping

Not many people know about this business. Anyway, car flipping deals with buying and selling fairly used cars. This business is very profitable because many people cannot afford new cars, so they would rather buy fairly used ones.

9.    Phone Charging Business

Almost every state in Nigeria complains about the lack of good electricity. Instead of complaining too, with $100,000 in capital, you can use the bad electricity to your advantage by starting a phone charging business.

10.    Selling Clothes

This is another good business to start with 100k in Nigeria and you can venture into anywhere. Everyone loves to look good, and that’s what makes this business great. However, you will need to keep up with fashion trends so that your customers will not get bored with seeing the same type of clothes every time they visit your boutique.

11.    Bed sheets & Pillow Case Sales

Everyone loves a beautiful house, and a beautifully made bed adds beauty to a house. That is why selling bed sheets is a good business. You can either buy from wholesalers and resell the bed sheets and pillowcases, or you can buy the materials from the market and give them to a professional to sew them for you neatly. Either way, you will be making cool money from this business.

12.    Sell Wigs

This is especially for ladies, but it is not limited to ladies. Selling wigs is a highly lucrative business you can start. All you have to do is find a vendor from whom you can buy wigs and resell them. You don’t have to start with so many wigs. If you do not have a lot of capital, then you can start with maybe 3-5 wigs, and then you can buy more when you make a profit.

13. Dropshipping

This business has been around for years, but not many people know about it. You need to know a few suppliers before you start. What you will do is get pictures of goods from a supplier and their prices and advertise the goods at your own price. Then, when you receive an order from a customer, you can simply remove your profit from the money the customer pays and send the supplier their actual price. It’s that simple.

Wrapping Up

These are profitable businesses to start with 100,000 Nigeria. Please feel free to leave your question, comment or request in the comment box.