Best 15 Cheapest Business To Start In Nigeria 2023

Introduction

If you’re looking for affordable business opportunities in Nigeria, we have compiled a list of the top 15 cheapest business to start in Nigeria. These business ideas require minimal investment and offer great potential for success. Whether you’re interested in cleaning services, catering, zobo business, affiliate marketing, event planning, becoming a driver, perfume oil business, baking and confectionery, laundry, or a POS business, there’s something for everyone. Let’s explore these low-cost business ideas in detail.

Top 15 Profitable And Cheapest Business To Start In Nigeria

Affiliate Marketing

Affiliate marketing enters the list as one of the cheapest business to start in Nigeria because you can start this business without sending a dime. Start a small-scale online business with affiliate marketing. This business model allows you to promote other people’s products and earn sales commissions. Begin by creating a website and gaining a good understanding of online marketing. As your business grows, you can expand your product selection and target more customers in various markets like fashion, beauty, and technology.

Baking Business

You can start a baking business without owning a bakery. If you can afford a standard oven, it will be the primary item you need. Electric ovens are available for as low as N50,000. Additional items may include a mixer, baking pan, etc. If an oven is unaffordable, consider starting with confectioneries that don’t require baking, such as small chops.

Become a Driver

You don’t need to own a car to become a driver in Nigeria. Join popular mobility companies like Uber, Bolt, or Lag Ride. Alternatively, you can find someone willing to buy a car for you to use. Discuss remittance terms, such as daily, weekly, or monthly payments. This business idea requires zero capital to start that is why is one of the cheapest business to start in Nigeria.

Car Wash Business

Another cheapest business to start in Nigeria worth considering is a car wash. The demand for car wash services remains constant, making it a viable option for individuals of all ages and skill levels. Many car owners lack the time or resources to wash their vehicles themselves, and some may not even have gatekeepers to assist them at home. As a result, visiting a car wash becomes the preferred choice.

To establish a car wash business, you’ll need to secure a space for rent, ensure a water supply source, and acquire a washing machine. Going the extra mile by installing a TV in the waiting area can enhance the customer experience and make them feel more comfortable during their visit

Catering Services

Begin your low-cost catering services using your kitchen cooking equipment. Start by offering your services to events, meetings, individuals, birthdays, and other occasions. You can even offer cook and delivery services. As your business expands, consider investing in additional cooking equipment like food trucks, delivery bikes, or commercial kitchens.

Cleaning Services

Not adding cleaning services as one of the cheapest business to start in Nigeria makes this list incomplete. Cleaning services are highly in-demand in Nigeria. You can start a house/office cleaning service with minimal investment. As your business grows, you can hire more people to assist you. The essential cleaning tools you’ll need are sponges, microfiber cloths, cleaning detergent, a bucket, mop, dustpan, broom, spray bottle, and a scrub brush.

Data Reselling Business

When it comes to cheapest business to start in Nigeria count data Reselling business. In Nigeria, starting a data reselling business with minimal capital can be a lucrative venture. This involves the procurement of data bundles from popular Nigerian network companies such as MTN, GLO, 9mobile, and Airtel, and subsequently selling them in smaller quantities to interested individuals.

The profitability of this business is evident, and it requires a minimal initial investment of as low as N2000. To commence operations, one must first register with a reputable telecommunication or VTU platform. Following registration, funding the account is necessary to begin the process of reselling data to potential customers.

Event Planning

Another cheapest business to start in Nigeria is event planning. Nigeria hosts numerous events daily, making event planning a profitable venture. Offer your services for weddings, birthday parties, and corporate events. Start by planning small events for friends and family. Gradually, you can invest in equipment like tents, tables, and chairs. In the beginning, consider sticking with rental services.

Ice Block Production

When it comes to the cheapest business to start in Nigeria, ice block production and sale stands out as a promising business venture. The country’s tropical climate, characterized by high temperatures and abundant sunlight, makes this idea particularly appealing.

Not only is it a profitable concept, but it also requires minimal startup capital. All you need is a reliable freezer, access to power, and water, which will freeze into ice blocks once the process begins. The simplicity of this business is remarkable. In areas where electricity is scarce, people often seek ways to preserve food, especially soups. Additionally, beverages and drinking water typically require ice to stay cold.

Laundry Business

The laundry business is another low-cost opportunity in Nigeria. Purchase a washing machine (available from N50,000 or more) and operate from the comfort of your home. You’ll need washing detergent and hangers as additional supplies. With proper marketing, you can make a good living from your home-based laundry business. Laundry business I considered one of the cheapest business to start in Nigeria to make extra profit

Mini Importation Business

Importing inexpensive goods and reselling them for a profit is a straightforward and cost-effective. It is considered one of the cheapest business to start in Nigeria to make money in the country.

To maximize your chances of success, focus on importing goods that are popular or in high demand within Nigeria. By catering to the needs and preferences of the local market, you can increase your chances of selling the imported goods and generating a profit.

Okrika Business

The resale of second-hand clothing is a thriving industry in Nigeria, primarily catering to individuals who cannot afford to purchase brand new items. This presents a lucrative business opportunity for aspiring entrepreneurs.

To start, you can source these garments from various sources, such as countries like Cotonu, U.s.a, Turkey or establish connections with other vendors who can guide you in acquiring the merchandise. Once you have obtained the clothing, there are different avenues to explore for selling them.

Setting up a shop in a market, where a diverse range of customers can be found, is one option. Another approach is to take your wares directly to the customers by becoming a vendor who sells clothing on the go. Additionally, targeting locations with high demand, such as schools, can be a strategic move to sell these clothes.

By tapping into the market for reasonably used clothing, you can establish a profitable business venture in Nigeria

Perfume Oil Business

Starting a perfume business in Nigeria is affordable. With as little as N5000, you can begin selling perfumes. Buy small quantities from wholesalers and resell to customers. Conduct proper research on the products and fragrances to ensure market interest. Establish reliable supplier connections for the best perfumes at the best prices.

POS Business

To start a POS business, you’ll need a space, which can be shared or operated from your home. Spread the word about your business among family and friends. Approach any bank to request a POS terminal, following their requirements. With as little as N30,000, you can begin offering POS services and generate income.

Zobo Business

Making Zobo is one of the cheapest business to start in Nigeria. The Zobo business is profitable and offers a significant return on investment. It’s easy to learn how to make Zobo by watching short YouTube videos. Most of the required items are likely already in your kitchen. You’ll need a pot, turning sticks, bowl, measuring spoons, pet bottles, bottles sealing machine (if necessary), Zobo leaves, ginger, sugar, and citrus fruit.

Conclusion

These 15 cheapest business to start in Nigeria offer great potential for success in Nigeria. From cleaning services and catering to event planning, affiliate marketing, and more, there are various options to suit your interests and budget. Start your entrepreneurial journey today and pave the way for a successful and profitable business venture.

Hope you enjoyed this article, knowing the cheapest business to start in Nigeria now, we wish you good luck on starting your financial journey.