The kind of business you can start in Nigeria with 150K will largely depend on where you live and the abilities you have. Your passion may also suggest a venture you can launch with $150,000 in funding.
Suppose you have 150k to invest in a business in Nigeria. In that case, some of the best options are POS systems, online sales, businesses selling phone accessories, blogging, laundromats, bakeries and pastries, and small-scale trading enterprises.
Let’s get to finding you a profitable Nigeria business to start with a 150k investment.
POS Business
The POS business is a new business opportunity brought about by the introduction of POS and the quick expansion of several fintech companies in Nigeria.
Despite its popularity, there is still a high demand for point-of-sale (POS) agents in some areas, making this one of the easiest and most popular businesses in Nigeria to start with N150,000 and make money.
Cooking Gas Business
Another profitable venture in Nigeria to launch with 150k is a cooking gas business, since even in rural areas, people are increasingly choosing cooking gas over firewood and charcoal for their cooking needs.
All you need to get started in this business is a gas tank or bottle, which you can fill with gas. You can then get supplies like a hose pipe, scale, dispenser, and other items.
It is advised that you educate yourself on the gas refilling industry before beginning, as cooking gas is an extremely flammable material. No more than a week should be needed for this.
Drop Shipping
Today’s original internet business is drop shipping. Although it is easy to get started, it may take some time for things to truly turn green. Selling goods to clients without physically maintaining inventory is known as drop shipping.
Thus, in this instance, your drop shipping company places orders with suppliers who then ship the goods straight to the client.
Mobile Devices Charging Business
Due to the poor quality of Nigerian electricity, mobile device charging has become a very profitable business that you can start in Nigeria with as little as 150K and immediately start earning a profit.
All you need to get started with this business is a small shop or kiosk, chargers, socket boards, and a generator. Your profit should be between N80,000 and N100,000 at the end of the month after deducting all fuel costs, maintenance costs, and other expenses.
Phone Accessories Business
In Nigeria, another profitable business idea that starts with 150K is selling phones and other mobile accessories. Simply locate a kiosk or small store that you can open with the 150,000 Naira you have.
Then, to purchase a range of accessories, search for wholesalers of mobile accessories in marketplaces like Alaba or Ikeja Computer Village in Lagos, and NITA market in Abuja.
All you have to do to get customers to your kiosk is display the products you have purchased in a variety of ways.
Freelancing and Consulting
Make use of your abilities and knowledge in fields such as programming, graphic design, writing, and business consulting.
Promote yourself on social media, internet directories, and trade associations by offering your services as a consultant or independent contractor.
Food and Beverage Business
Think about launching a small food business, such as a catering company, food cart, or line of homemade snacks.
To set yourself apart, concentrate on a certain market or your own line of gourmet foods. To increase sales, look for prime locations with lots of foot traffic.
Service-based Business
Provide specialized services like tutoring, house repairs, cleaning, and event planning. These kinds of businesses can be run from home with little initial investment. Gain a solid reputation by providing exceptional customer service and satisfaction.
Education and Tutoring
Nigeria places great importance on education, which makes it an interesting field to research. Establish a coaching facility that provides specialized instruction in a given subject or individualized tutoring.
Prospective clients are constantly supplied because parents are frequently prepared to make educational investments for their kids.
Online Retail Business
Open an online store and sell goods there. Use online directories such as Jumia, Konga, or your own website to expand your clientele.
To increase sales, make quality product investments, create a visually appealing website, and implement successful marketing techniques.
Conclusion
I think you’ve found some of the greatest and most lucrative businesses in Nigeria that you can launch with 150K thanks to this post. Now all you have to do is make the first move and launch at least one of the companies you’ve seen here.
Establishing a company on a shoestring can be difficult, but it’s not impossible. So, you’ll need to work very hard on marketing, funding, business planning, legal requirements, and market research.
FAQs
What are the factors needed to set up a business?
- Time and resources available.
- Modifiability.
- Demand and size of the market.
- Your knowledge of the sector.
- Your enthusiasm and inclination.
What kind of business is the easiest to launch?
This is usually the most basic kind of business, where all of the company’s debts and profits are owed by a single individual or a married couple
Which four elements are crucial when launching a business?
Here are four things to think about before starting your own business.
- Business strategy.
- Finances and expenses.
- Look up an accountant.
- Workplace problems, etc.
How much time do companies last?
According to BLS data, 20% of newly established companies fail within the first two years of operation, 45% within the first five, and 65% within the first ten. Of all new businesses, only 25% survive for at least 15 years.
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