Can Two Hundred Thousand (200,000) nairastart a good business in Nigeria? Can someone answer and enlighten me please?
Can Two Hundred Thousand (200,000) nairastart a good business in Nigeria? Can someone answer and enlighten me please?
Below you can find one of the possible ready business ideas for Nigeria. Some of the other include getting a chicken farm or a goat farm and selling food. You may also start a small retail business in Lagos or in some other part in Nigeria. Some people bake wedding or fancy cakes and sell them. It is an opportunity to start small and grow your business gradually. Working from home is the best option for a small enterprise. This way you reduce the risks and cut down your expenditures.
You cannot hope to start a good business without a business plan. READ ALSO: How to write a business plan in Nigeria: 10 steps to lead you through the process
here https://ask.naij.com/business/how-to-write-a-business-plan-in-nigeria-10-steps-to-lead-you-through-the-process-i23603.html and lay a firm foundation for your business success.
With the stated amount of money you can start an online business. For instance, you can go into blogging or engage in an affiliate marketing program. You can also start a small scale business selling street food or do minor retails.
If you are handy with things you can go into constructions and buy your equipment. Then you can take building jobs from customers directly instead of getting them through your employer or a firm. READ ALSO https://ask.naij.com/business/most-lucrative-business-in-nigeria-5-top-ideas-i23407.html to get more ideas and to know your options. This amount of money is sufficient to start small and grow your business from there.
For me, i believe 200k can actually start a good business only if you know the right business to do at the right time. for this amount, u dont really need a shop because the shop will take all the money. you can start a clothing business as a supplier. just buy the cloths, sale to those that also sale, I call it whole sale, at the same time, you also do some retel by carrying it to offices like companies and banks. there are other busineses i can always link you up, can alwaysreach me on email@example.com
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You have a profitable business and you want financial security and other financial benefits?
Are you under the mind-stress of repayment of mortgage or any other loan and you want to be free?
Do you want to invest for future purposes,for your family's financial protection,for retirement etc?
Do you want to place yourself on pension as a business man?
Then you would have to get an insurance policy with Standard Alliance. I cld help u on dat
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Think twice but Dont delay.
yes with just N25, 000, you can start making really cool income selling simple information to desperate Nigerians who wants you to help them. and to tell you truth if you get the foundational steps on how to run this information marketing business, your N25, 000 will yield good profits sometimes up to N200, 000 or more (and most times less if you dont do it right)
So many people keep complaining about how bad the Nigerian goverment is for not creating enough Jobs for the teeming youths leaving the universities.
in fact i almost shed tears when i read in a magazine that 96,000 Nigerians tured up for an interview in an organization with just 15 vacancies... and the people surrounded the builing hoping to be the lucky one to get employed.
of course i agree that the Nigerian government has not really done well, but just to let you know, 53% of the population who are employed in the U.S.A are being employed by individuals who own small, and big businesses without the government help.
you can create jobs... and employ other people to work for you.
and believe it or not the best way to really start on your journey to have massive cash in your bank account is by selling. yes selling.
what do you sell?
the answer is something very valuable that is needed by desperate people with cash in hand. you see, so many Nigerians are faced with many needs, problems, wants etc.
and if you can provide valuable solutions to Nigerians who are faced with needs, problems, wants etc, then you can be sure of smiling to the bank always.
solutions are being provided every single day in the world. and in Nigeria, great people like Mike Adenuga provide Nigerians the simple means of communicating with their loved ones..
Aliko Dnagote has a mega business empire now because he is simply providing Nigerians with their basic needs like food etc
Complete sports provides Nigerians with the interesting things going on in the world of sports... and other businesses like that.
you too can do the same... but i want to show you my way.
Now for some Nigerians, the best way to provide solutions is by doing it in informational format like ebooks, manuals, books, reports, Cds, DVDs, Seminars etc... and believe it or not, smart Nigerians who are also 'jobless' are making millions per year just doing this.
and this is the solution approach format i want you to start working on. and the only thing you need is the foundation of how this works, the systems to make it work for you, with practical dedication on your side, you will definitely see a change in your finances.
i have put a master plan i have used over time to smile to the bank, and i want to give you this masterplan for free. now before you start thinking that this is just another nonsense crap, here's what you'll get from my free masterplan;
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== you will also discover how to 'position' your solution in widely read and targeted mediums and attract hungry customers like crazy...
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== you also discover how to easily make your first N50, 000 in just 30 days or less using a simple targeted numbers approach (this is not get-rich-quick, but knowing how to do this will put N50, 000 in your bank account by using this system).
== you will also learn how to create simple killer messages to sell your information product to crazy hungry buyers...
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A lot depends on what you term to be good business. I started my book retail biz last month with just 4k (i mean four thousand naira) and today i've had a turnover of about 40k (in just one month). I do it parttime cos i have a regular job. As small as it appears, i consider it an impressive start. I realise there are people like me who love books but due to their busy work schedule, they find it difficult to go to bookshops. I source for books of popular authors with interesting titles and take to them during lunch hour(thanks to amazon). The prices are a bit lower than bookshop prices as i do not pay rent. U sell more if u can give concise and interesting description of d content of d books (u need a sharp mouth and a smiling face). I also gave out a free e-book to all customers so i have their email addresses and can inform them of my new collections without going to them. This is just testing d waters. I intend to expand my customer base. Money is important but isn't all there is to starting a biz. U need to identify a need and fill it.
Cattle business is very lucrative. If you are in Lagos you can make up to 20% monthly. It is not seasonal though price may vary from time to time. Cows are very useful in diverse ways apart from being a primary source of protein. All the extracts are useful. You can up your profit by butchering ie slaughtering and dressing the cows for the market. This can double your margin.
TYPICAL BUTHERS’ DAILY SALES RECORDS
COST OF A 200 Kg COW – 105,000
LADA (ROYALTY) - 2000
LEVIES – 2500
TRANSPORTATION FROM THE SLAB TO THE LOADING BAY – 1000
LABOR - 3000
MISCELLANEOUS – 2000
HEAD – 7000
SKIN – 5000
INNARDS – 13000
EJA (REMNANTS) – N2500
GIZARD – N300
TAIL – N2000
joystick (FOR MALE) – N350
MUSCLE – N500
BONES – N6000
BEEF @ N600 PER Kg, ASSUMING BEEF IS 140 Kg – N84, 000
This is a based on killing just one cow.
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The fastest profit making business you can invest N200,000 into is the bulk recharge card sale, you don't need a big shop,a kiosk or small space sharing with someone who already has a shop will do, you don't need electricity aswell. It sells fast, we all know how telecomm is making money in naija today, just try to locate a distributor and buy in bulk and you sell to the local retailers making calls by the road side, you might not be making profits more that N10, N20, N50 depending on the value of the recharge card, but's fast and constant. If you do this for just three months am sure you will still have your N200,000 intact and yet a fat profit. I know a lady in my area that does the same , she left her job as a factory worker supervisor and went into just road side recharge card selling and call centre, she said she buys N40,000 card daily and it's profitable. So if you can sell in bulk to people like her, you could even go the extra mile to deliver to them at their point of sale and at the same time you could also get a space by the roadside where you put someone you trust, to sell to consumers and also make phone calls while you sell to retailers. I bet your N200,000 will be more than enough to do this. In Nigeria today you need a stable income to meet your daily needs, if you invest in equity or stocks you might go hungry before it matures.
I can advise you on how to invest your 10,000 pounds in IT biz in the UK, that money might sound big but when it gets to Naija you will then see there are lots of challenges here that might stop your biz from moving forward, you might run out of patience or be frustrated especially when you are not in the system. Please contact me @: firstname.lastname@example.org
The fastest profit making business you can invest N200,000 into is the bulk recharge card sale, you don't need a big shop,a kiosk or small space sharing with someone who already has a shop will do, you don't need electricity aswell. It sells fast, we all know how telecomm is making money in naija today, just try to locate a distributor and buy in bulk and you sell to the local retailers making calls by the road side, you might not be making profits more that N10, N20, N50 depending on the value of the recharge card, but's fast and constant. If you do this for just three months am sure you will still have your N200,000 intact and yet a fat profit. I know a lady in my area that does the same , she lest her got as a factory worker supervisor and went into just road side recharge card selling and call centre, she said she buys N40,000 card daily and it's profitable. So if you can sell in bulk to people like her, you could go the extra mile to deliver to them at their point of sale and at the same time you could also get a space by the roadside where you put someone you trust, to sell to consumers and also make phone calls while you sell to retailers. I bet your N200,000 will be more than enough to do this. In Nigeria today you need a stable income to meet your daily needs, if you invest in equity or stocks you might go hungry before it matures.
well 200k can start a biz but it will depend on kind of biz, where u r planning to set the biz (up north there lots cheap bizs like buying and selling of red beans i know its cheap in maiduguri and highly comsumed in the south) and who oversees the biz etc a word of advice dont let ur gal manage the biz.
You se one of the amazing busines you can do here in Nigeria is global stock trading, it doesn't limit your existence, you can be making your money whereevver you go in the world, with your laptop as you browse.
The 200k is too more self.
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you can write me on it and leave a question if you have one.
Hey GentlBlunt, can you enlighten me more about this? This is really what I want to get into in NG, especially music and production/engineering. But I am not really sure how to go about getting into the entertainment field in Nigeria. Any advice you may have will be greatly appreciated.
Thanks in advance, Magz
Quote from Kelvin
Yea of course, maybe it can assist you in selling pure water in a show glass
Alright am just kidding. Well it all depends on the kind of business you would like to start up and where you would like to set it up. There are various consultants in town, Contact any of them for professional information
You would be surprised what kind of daily income you can make by 'selling pure water in a show glass.' Ok, forget about the show glass, think of a cooler. The other day, I was at my barber's and the female barber who assists the owner of the salon had a cooler of water by the side. As we talked, she made me realise that she could do with a bigger cooler as the demand was so very high. How much was the bigger cooler? N2,000 or so. I gave her half of it. Two weeks later, she had bought a bigger cooler and from the look of things she indeed needed another bigger cooler. I didn't ask how much she made in a day, but, as it were the demand was the most important thing to her: it was high. Just find a need and fill it. And, be not ashamed. Like an unemployed cousin-in-law of mine who I had asked one day what her passion was? When she told me she could weave, I told her she could start a 'dial-a-weave' business. I was even ready to throw in the seed capital to do a classified and some flyers (all these couldn't have cost me more than N10,000). All she needed to do was put her number in the advert, requesting for ladies who needed home service to call and book for the service. To take it further, she could get a list of good weavers whom she could call at the shortest notice to go and weave for the ladies. (And, believe me there are quite a number of ladies who would rather have the weavers come to their homes. For a little premium. Well, what did my cousin-in-law do? She listened to my 'business plan' which, if you must know, came by some impulse, and said she would get back to me. She never did.
Must it be in IT? why not clothing line because right now,I'm developing a business plan I would need some one who'll be interested in equity holdings in it .In the long run we expect to sell the products in England but it would make sizeable chunks in Naija too especially since the distribution will be in top shops around Nigeria.
LET ME KNOW WHAT YOU THINK WE'LL TALK IN DETAILS!I intend to start with good management team.Less on overhads and more on production
One of the thing you can do is be a service provider to Banks and Corporate institute; Database management or Engineering. Get a bunch of guys that are good in IT and their credentials on a website, publicised the site to potential clients and get some relationship with them. Nigerians are always looking to updates in IT. Have your professional IT guys most in Lagos, then Abuja and Port.
Another thing you can do is help us in the movie industry. The Media/Movie Technology in Nigeria lack the hand of a professional touch. You can open a studio just for pro-production. Which will entails, editing, sound effect, visual effects and use of Computer Generated Images (CGI). Not only movie industry you use this for but also music industry, doing music videos.
Believe me with Media Technology you make it well in Nigeria. I was there for some time last year and I see all what they can offer.
thank u all for your opinion, is not that i want to leave here and start a business in nigeria, but someone close to me is asking me for that amt to start a business and i did not know the present economy in nigeria ,so that he wont just rush into any business that wont pay both of us at the end of the day . though am not expecting any reward from it but make sure he manage it good . thanks
have u thot of buying equities - buy low and selling high. if u dont have more than 200k at the moment.
all u need to do is to identify good stocks and invest in them. no cost attached except transaction costs which more or less 4%.
Also u can start with retailing of some goods or better go for LPO for supplies (but from reputable companies only pls).
A clothing line? Can N200k actually start a clothing line? (not $)
ok people, I want to start/open a Unisex Salon with other minors like phone business. CD, DVD, Games for sale at the same venue possible not in da central lagos so average shope rent
- cut hair
- braid hair (extra)
- sell re-charge cards
- sell dvds, games, CDs
- gameshop ps3, x-box 360 (extra)
Considering the fact business is risky and triple risky in Nigeria, do you think 200-250k would be enough to start a barbing shop? If I was living in Nigeria would I be able to survive and live with this?
I asked my barber who owned a shop in nigeria it should be enough but i should forget nigeria n concetrate on my studies. But I've been itching to do something like this for a long time. I basically want to supply the capital and have my cousin manage it for themselves! If they succeed that's their gain, and if not [then too bad].
fadekemi it depends on what you consider a good business! some business, YES! some, that won't even pay for a shop! so I think you'll get more and better advise if you can atleast specify what type of business you have on mind.
One example: CELL PHONE, which is what most people are going into in Nigeria now, some even go to China, Taiwan, Dubai, and Finland to buy them. With 200,000 thousand naira you might not even have up to 10 good sets after paying for your shop and if you have a shope already or decide to go door to door with it, that amount can only buy between 20 to 25 sets of phone or even less depending on the type and quality some are up to 45 thousand naira each! so using the world "good business" with that amount is kind of tough to advise on!