Advertisements
The Nigerian economy is not encouraging, naira is now worthless and valueless, here we will list out the 21 best Business To Start With 500k in Nigeria 2023, despite the hardship and start making cool profits from them.
Many entrepreneurs face a lot of problems starting up a profitable business. The main problem is raising the capital but in the end, many people still have the capital, but starting up a legitimate business is another challenge faced. That’s we can’t to answer so many questions asked in Business To Start With 500k in Nigeria
Are you asking some of this question?: Business ideas that I can start with 500k in Nigeria?What business can I start with 500k in Nigeria?Best business to start with 500,000 naira in Nigeria?Now, we have brought an end to some of these questions asked as we are about unveiling those business ideas one can start with 500k in Nigeria.
Seeing how hard it is to raise a business capital, many people can’t afford to mismanage the capital they already have, that is why some of these questions are raised, looking for answers.
Many people can’t boost of any business today because they didn’t do a proper analysis on a profitable business they would have started with, when they had the capital which inturn ends in loss of money.
Advertisements
Have you raised up to 500k or N500,000? And been desperate to start a profitable business to venture into?, Search no more as we have listed the best business to Start with 500k in Nigeria for you in this article below.
In this article, all the business ideas shared are genius businesses, legitimate, trusted and profitable businesses to start with 500k in Nigeria to make a reasonable amount of profits.
No one will like starting a business that will crash at the end, so in business, smart people take out their time to analyse the risk and downside. This is what we call proper business planning.
What are the benefits of starting a business?
Starting a business is not just an opportunity for personal development. It is a way of providing value to the world. It means that you can change traditional market structures and offer new products and services to consumers. What’s more, you get an opportunity to shape the future of your industry.
Top 3 Reasons You Should Start Your Own Small Business
Since the last few decades, entrepreneurship has been on a rise. More and more people are turning their own ideas into small businesses. Some of the major reasons that motivate people to start their own business are:
1) Entrepreneurship is a low-cost business. You don’t need to spend much time or money to start your own business. All you have to do is have an idea, create your product and sell it.
Advertisements
2) Low investment needed- As you only need some money, time and skills to start a small business, there will be no risk of losing much if you can’t make it work out.
3) Self-employment – Another reason why people start their own businesses is they don’t want someone else to tell them what to do all day long
A Complete List of Business To Start With 500k in Nigeria
Nigeria is an emerging economy with a large population and plenty of opportunities for low-investment businesses.
It has one of the fastest growing economies in the world, and it’s also one of the most populous countries in Africa.
There are many reasons why Nigeria is a great place to start your business, but there are also challenges that you need to be aware of.
In this article, we will explore some the business to start with 500k in Nigeria. These businesses have been tailored to suit Nigerian needs and have been chosen based on their ease to start, as well as their low startup costs.
Business To Start With 500k in Nigeria
- Printing and publishing business
- Salon business
- Mini importation business
- Sports betting agency
- POS business
- Football viewing centre/gaming center
- Rental business
- Block Industry business
- Laundry/dry cleaning business
- Uber business
- Goat farming business
- Cassava farming business
- Foodstuffs business
- Pig farming business
- Car wash business
- Honey business
- DJ business
- Restaurants & Bar Business
- Cosmetic Business
- Real Estate Business
- Recharge card printing business
1. Printing and Publishing Business
One thing with this business is just location, not all location suites it, the best location is just an area where their are schools.
This business comprises: printing of banners, hand bills, photocoping, printing customized t-shirts, printing customized caps, invitation cards, posters, and many more
You don’t need to be knowledgeable about printing, just get the necessary printing equipments and then employ people that have the skills to work for you and start making cool cash
2. Salon Business
Another business to start with 500k in Nigeria is salon business. When I say salon I mean rendering the services of both genders (male barbing and female hairdressing) at the same place, this is what makes it a profitable business.
Salon business is highly lucrative but is been neglected by many people.
In some places, an individual pays 500 naira to barb, at some other places people pay 1000 naira and above, now multiple it by the number of people that you render your services to in a day, then substract your expenses to see how lucrative this business is
3. Mini Importation Business
Looking for a Business To Start With 500k in Nigeria, you can start a mini importation business which involves importing goods from China, Turkey, United States and other countries to Nigeria without having to travel to get those goods yourself.
This business is just stress free as you can stay at the comfort of your home to run this business successfully. All you need is just the rightful knowledge on where to get those products at cheaper rates, how to waybill them to Nigeria and how to sell them.
You can sell this products online or offline. For offline you have to get a shop where you can showcase your product, and for the online one, you just need to market your products on different platforms like run Facebook ads or sell on jumia.
Some of the products you can import are clothes, shoes, joggers, eyeglasses, home equipments and many more
Read Also: How To Start A Mini Importation Business In Nigeria
mini Importation Business In Nigeria4. Sports Betting Agency
Sports betting includes online casino betting, and other sports betting.
million of Nigerians between the ages of 18 and 40 are involved in active sports betting. On average, they spend around 3,000 Naira every day on bets. Sports betting provides Nigeria football fans with the opportunity to earn money from what they love.
Sport betting business is a stress free business to start with 500k in Nigeria, all you need is to rent a shop, buy computers (desktop computers), TVs, decoder’s and partner with a good betting company like Bet9ja and Betking.
5. POS Business
Do you know with N500,000 you can start up a standard POS business? POS is another lucrative business to start with 500k in Nigeria
How To Start Up A POS Business
Starting up a POS business in Nigeria is very easy like a,b,c,d and also stress free
Many people have really ventured in to this business due to the scarcity of banking institutions in many areas.
This another profitable business to start with 500k in Nigeria ones you have a good location where there is less banking institution.
Secondly, get a pos machine and partner with a pos company that charges less fee, with this you will see this business as a lucrative one.
6. Football viewing centre/gaming center
Both young and old watch football matches and also play games, so starting up this business is not bad.
Many People love playing games like PS2,PS4, PS5 and many others so this business is a profitable one to start with 500k but all you need is a good location.
7. Rental Business
This is another lucrative business out there many neglect, everybody that fix wedding ceremonies, birthday parties, burials, and other events don’t buy all the chairs, tables, canopies and other decorations all are been hired.
So consider this business as one of the business to start with 500k in Nigeria as it is so profitable just make sure all the necessary equipment are available some of the necessary equipments are as follows
Rental Equipment
- Wedding tent
- Wedding decoration lights
- Photo Booth Rentals
- Chairs and tables
- Wedding dress for bride and groom
- Coffee machine
- Furniture
- Outdoor heaters & fans
- Chair Covers
- Electric Generators
- Live streaming service equipment
- Carpets
- Decorative curtains
- Canopies
- Pots
- Plates
- Spoons
- Cooling fan
8. Block Industry/Moulding Business
Many people look down on this business as one of the Business To Start With 500k in Nigeria, many calls it dirty business but I tells you their is money in it
How Profitable Is Block industry Business?
I have done my analysis on this business and that is why I added it as a business to start with 500k in Nigeria, we didn’t add it because it is a business you can start it with 500k but we added it because of its profitability.
How to Start up a block Industry business?
Starting up a block Industry business requires the following:
- The number one thing you need before setting up a block Industry business is an empty land. You can purchase the land if your money can afford it but if not you can rent it from the owner ( landlord). Don’t establish your block Industry business in a water logged area or swampy environment.
- Importantly, You also need to acquire a moulding machine either automatic moulder or manual moulder depending on your capability. The type of machine you install depends on the scale you want to operate. There are locally fabricated machines that are manually operated and there are also automatic moulding machines and multifunctional machines that can be imported
- You need an adequate delivery van to serve as an open pick up to deliver your block to your customers. A serviceable fairly used vehicle can serve this purpose and as you scale up your operations, you can acquire a suitable truck. You will need this van to enable you to deliver your products to your customers at their sites.
- Water is needed to mix the cement and sand as well as to sprinkle on the moulded blocks to enhance its hardness
- You will need a shed to protect your equipment and raw materials from rain and also where your workers can change their clothes and also serve as your office.
- construct a wooden pallet for carrying blocks to the drying/curing place, you can get a carpenter to do this for.
Why we pick block Industry as a profitable Business To Start With 500k in Nigeria
It is very hard these days seeing building engineers moulding blocks themselves whenever they get a building contract, this saves their time and makes their work move faster as blocks have been made available by a block dealer.
Many People love good and quality products, so in as much as you can provide quality and a strong block you will never lack customers or buyers because people need standard products that they will be proud and convenient with.
Also, give your customers good attention and be there whenever they need your services.
9. Laundry/dry Cleaning Business
Laundry or dry cleaning as many call it involves the washing, drying and ironing of clothes and other textile materials for companies and individuals .
Laundry business came due to the tight schedule of many people. Some wake up early in the morning for work and other related issues, so no time to wash their clothes. This is where a laundry man comes in for rescue.
Some big companies hirers a laundry man to wash their staff’s uniform, so mark this business as one of the Business To Start With 500k in Nigeria
10. Uber business
Do you know that Uber drivers make not less than 50k every week? You don’t really need to drive the car yourself, there are many people out there that can’t afford the cash to purchase a car looking for people that can hire their car?
I remember a friend of mine that does Uber, he remits not less than 25k to the car owner every week. So the Uber business is profitable.
11. Goat farming business
The cost and demand of goats nowadays is very high and venturing into this business doesn’t require much, as it’s one of the Business To Start With 500k in Nigeria, goat farming doesn’t require buying of goat foods, you can get them for free by entering into bushes to get them
12. Cassava farming business
Do you know that garri paint is sold for N2,000 and above in some parts of the country?This same paint was sold for less than N500 some years back.
Garri and fufu is the most commonly consumed food in Nigeria despite the increase, people still eats garri and fufu
There is high demand for garri in Nigeria where there is a low rate of cassava production in Nigeria so this is a good business to start with 500k in Nigeria.
13. Foodstuffs business
Everybody eats food on a daily basis, so this is another business to start with 500k in Nigeria as there is cool cash to be milked from it.
Get a good Lively location, good parking space and sell all types of food items like rice, beans, garri, indomie, spaghetti, semovita, yam, and many other food items.
14. Pig farming business
one pig can give birth to as much as 12 piglets at a time, making it one of the most reproducing farm animal in the world
Pig farm is one of the Business To Start With 500k in Nigeria, You can easily set up a big pig farm that will definitely change your financial status.
Pig farm business is very lucrative just get the necessary equipments and materials needed you are good to go
A lot of Nigerians are still ignorant and adamant about this business, while some still doubt the profitability of this business, the few Nigerians who are in the business can tell you that this is the right business to start and smile to the bank.
15. Car wash business
Car owners will always want to wash their car (s) regularly because of the dirtiness and dusty roads we have in Nigeria.
Car Wash Equipments
Below are the necessary equipments needed to start a car wash business as one of the Business To Start With 500k in Nigeria
- Car vacuum cleaner
- Car washing machine
- Bowl
- Hard brush
- Pipes or hose
- Liquid soap
- Water
16. Honey business
Honey is highly medicinal and healthy to consume.
In many parts of Nigeria getting honey is very hard, so honey is another Business To Start With 500k in Nigeria.
One thing with this business is that honey never expires.
17. DJ
This business is for those who have already acquired the skill of a DJ (Disk jockey).
All you need is the necessary equipment like the DJ mixer, speakers and many more because there are many events where you will be paid to showcase your skill.
This business is a lucrative business to Start with 500k in Nigeria
18. Real Estate Business
Business To Start With 500k in Nigeria, this is another mind blowing business to invest in
All you have to do is buy properties or land and sell at a higher amount.
There are many places where you can buy lands cheaper like 100k and above. Within some period of time you will make over 1000% of your capital. So real estate is a profitable business to start with 500k in Nigeria not only in Nigeria this business is a global business that anyone can start in any country of the world.
19. Cosmetic Business
Never argue with me that many girls can spend anything to make sure they look nice and smile good. Our girls nowadays love to see their skin look nice, fresh and attractive.
Tap into this business if you have up to 500k and above as it’s a very lucrative business to start with 500k in nigeria.
20. Restaurants & Bar Business
Restaurant is a business to start with 500k in Nigeria that has been creating millionaires in Nigeria for decades now.
There will always be the need for places to eat out. You can take advantage of this opportunity and start your own restaurant business in Nigeria today.
21. Recharge Card Printing Business
wants a Business To Start With 500k in Nigeria ?, that can help you multiply your money with ease? This business can give you that opportunity to make between 600%-1500% Gains in a year without recording any loss.This is awesome!!!”
Over One Hundred And Seventy Million (170,000,000) people recharge their phones on a day basis either for making calls or data for browsing.
Conclusion
Starting up a business in Nigeria is very okay as the population of the country is very high.
So if you have up to 500k you can pick any of the above mentioned businesses to start with 500k in Nigeria and invest in it because there is money to be milked from each and everyone of them.
Did this post help you get the idea business to start with 500k in Nigeria? Tell us what you feel on the comment section
Also if you feel their is another Business To Start With 500k in Nigeria you know that is profitable that you want us to know about which we didn’t include here, do share with us in the comment section.
Have a nice day …..❤️❤️❤️
Advertisements
2 thoughts on “21 Best Business To Start With 500k in Nigeria 2023”