68 Businesses You Can Start With 100k, 200k, 500k, 1M

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Written By Godfrey

 

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Starting a business in Nigeria is no small fit. Raising money to start a business in Nigeria is even more difficult than finding a business to start. That is why in this article, we have crafted practical business ideas you can start with as low as 100k to 1m naira in Nigeria.

Without wasting any more of your precious time, let’s look at Businesses You Can Start With 100k, 200k, 500k, or 1M.

Note: To Check section one L; refer here: Businesses you can start with 50k or less. You can open it in a new tab.

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Businesses You Can Start With 100k

1. Paint Production

Paint production is the production of paint for various use such as the painting of houses, offices, painting of furniture, metal surfaces, etc.

How To Start Quality Paint Production In Nigeria with 100k

The demand for paint is high and therefore makes the business a lucrative one. You can start this business with as little as 100k.

2. Logistics 

Logistics business involves planning, implementing, and controlling the movement and storage of goods and services within points of origin (factory)and consumption. And this includes delivering, packaging, storing, distribution, and information processing.

With a minimum of 100k, you can start a courier service, get a bike, locate a brand that needs a courier service, and volunteer to help them deliver while you charge them a token.

3. Food Business

With 100k you can start a food business and make cool profits. (Check section 1a above for more information)

4. Popcorn Business

You can also start a popcorn business with 100k. You can get a popcorn-making machine at a low price instead of the manual method with a pot. (Check section 1c above for more information).

5. Sales Of Mobile Accessories

With 100k,  you can start buying and selling mobile accessories on a medium scale. (Check section 1e above for more information).

6. Sales Of Perfume And Other Cosmetics

With 100k you can also start buying perfume and cosmetics to sell for cool profits. (Check section 1g above for more information)

7. Hair/Barbing Saloon

You can as well start a barbing/hair saloon with 100k (Check section 1h for more information).

8. Mini Importation

With 100k you can start a mini importation business to make cool profits. (Check section 1J above for more information).

9. POS Business

With 100k, you can start and manage a POS shop, and help people carry out transactions while you get paid for it. (For more information, check section 1K above)

10. Jewelry Business

With 100k, you can start a jewel sales business. (Check “section 1 L” for more information).

11. Forex Trading

With 100k you can start trading forex. (Check “section 1 n” for more information).

12. Smoked Fish Business

With 100k you can start smoking fish for sale. (Check “section 1 o” for more information).

13. Tailoring/Fashion Design

(Check section 1p for more information)

14. Bag-making Business

(Check section 1q for more information)

15. Dry Cleaning Service

With 100k you can start a dry cleaning business and make cool money. (Check section 1r for more information).

16. Recharge Card Printing Business

With 100k, you can start a recharge card printing business. (Check section 1s for more information).

17. Agriculture

With 100k you can start a business in any sector of agriculture. Either on a small or medium scale, depending on the sector you chose. (Check section 1t for more information)

For a more detailed insight on businesses to start with 100k, read this article.

Business You Can Start With 200k

1. Bakery

You can set up a local bakery business with a minimum of 200k  naira. It is one of the fastest-growing businesses in Nigeria in addition to the fact that it’s lucrative.

One of the advantages of running a bakery business is that you are not limited to only one type of product. You are open to different varieties to produce like, pies, cakes, pastries, etc. And you can also decide to specialize in a particular product.

bakery shop can be started with 200k

2. Sales Of Mobile Phones

In this technological age, every Nigerian need to own a phone for many purposes. Ranging from accessing the internet, making and receiving phone calls to entertainment, etc. the demand for a mobile phone is always on the increase with mobile phone producers releasing a new and better versions of phones frequently.

Some people will buy it because they want to flow with the trends etc. You can start this business with 200k and make a cool profit.

3. Paint Production

With 200k you can start a paint production business. (Check Businesses you can start with 100ka for more information).

4. Logistics 

You can also start a logistics business with 200k, depending on the resources available. (Check Businesses you can start with 100kb for more information)

5. Food Business

With 200k you can start a food business and make cool profits. (Check section 1a above for more information)

6. Popcorn Business

You can also start a popcorn business with 200k. You can get a popcorn-making machine of good quality and price instead of the manual method with a pot. (Check section 1c above for more information).

7. Sales Of Mobile Accessories

With 200k,  you can start buying and selling mobile accessories on a medium scale. (Check section 1e above for more information).

8. Sales Of Perfume And Other Cosmetics

With 200k you can also start buying perfume and cosmetics to sell for cool profits. (Check section 1g above for more information)

9. Hair/Barbing Saloon

You can as well start a barbing/hair saloon with 200k (Check section 1h for more information).

10. Mini Importation

With 200k you can start a mini importation business to make cool profits. (Check section 1J above for more information).

11. POS Business

With 200k, you can start and manage a POS shop, and help people carry out transactions while you get paid for it. (For more information, check section 1K above)

12. Jewelry Business

With 200k, you can start a jewel sales business. (Check “section 1 L” for more information).

13. Forex Trading

With 200k you can start trading forex. (Check “section 1 n” for more information).

14. Smoked Fish Business

With 200k you can start smoking fish for sale. (Check “section 1 o” for more information).

15. Tailoring/Fashion Design

(Check section 1p for more information)

16. Bag-making Business

(Check section 1q for more information)

17. Dry Cleaning Clean Service

With 200k you can start a dry cleaning business and make cool money. (Check section 1r for more information).

18. Recharge Card Printing Business

With 200k, you can start a recharge card printing business. (Check section 1s for more information).

19. Agriculture

With 200k you can start a business in any sector of agriculture. Either on a small or medium scale, depending on the sector you chose. (Check section 1t for more information)

20. Real Estate Business  

This involved buying and selling land and landed properties. The land is an asset with low risks, except for issues with seizing and thefts.

Land and landed properties are valuable and very profitable too. You can start this business with 200k to 1M.

The landed property you buy can be resold after owning it for a while. It could be a short time or a long time that depends on you and how long you can wait.

But the longer it stays, the higher the value, especially for lands. Some landed properties could become old-fashioned or experience wear and tear if it stays too long. And they will depreciate after it reaches their maximum yield level.

Land and landed properties appreciate. You can buy and resell in a few days or immediately.

Buy a house or any other property, refurbish it, lease it out or sell it. You would be making money and it attracts more profit for you when it increases in value.

21. Computer Business Center

Starting a computer business involves rendering services such as internet registration, printing, photocopy, scanning, and other computer-related services.

With a minimum of 200k and up to 1M Naira, you can set up a computer center. You should get a shop in a strategic location, offer your services and you are good to go.

Business You Can Start With 500k

1. Bakery

You can set up a standard bakery business with a minimum of ₦500,000. It is one of the fastest-growing businesses in Nigeria in addition to the fact that it’s a lucrative business.

One of the advantages of running a bakery business is that you are not limited to only one type of product. You are open to different varieties to produce like pies, cakes, pastries, etc. And you can also decide to specialize in a particular product.

2. Production Of Bricks 

You can start a brick production company in Nigeria with 500k naira or as much as 1M.

With so many construction sites around and houses being built, there is a lot of money to be made in this industry. It is a very nice way to keep the money rolling in.

All you need is land, machines for molding the blocks, and a person who has technical know-how on how to operate the machine.

The machines are usually not difficult to operate, so the cost of labor is not so high.

You can rent land preferably in an area with a lot of construction sites.

With all these in, you’re ready to go.

All you need to keep the business running is consistency, proper marketing skills, and ensuring you are giving out quality bricks for proper recommendation by those that have patronized you before.

There are different types of bricks, you can add a section where you will be producing interlock bricks, which is also quite profitable.

3. Sales Of Mobile Phones

You can also start this business with 500k and make a cool profit. (Check Businesses you can start with 200k..b for more information)

4. Paint Production

With 500k you can start a paint production business. (Check Businesses you can start with 100ka for more information).

5. Logistics

You can also start a logistics business with 500k, depending on the resources available. (Check Businesses you can start with 100kb for more information)

6. Food Business

With 500k you can start a food business (a standard restaurant) and make cool profits. (Check section 1a above for more information)

7. Popcorn Business

You can also start a popcorn business with 500k. You can get a popcorn-making machine of good quality and price instead of the manual method with a pot. (Check section 1c above for more information).

8. Sales Of Mobile Accessories

With 500k,  you can start buying and selling mobile accessories on a medium scale. (Check section 1e above for more information).

9. Sales Of Perfume And Other Cosmetics

With 500k you can also start buying perfume and cosmetics to sell for cool profits. (Check section 1g above for more information)

10. Hair/Barbing Saloon

You can as well start a barbing/hair saloon with 500k (Check section 1h for more information).

11. Mini Importation

With 500k you can start a mini importation business to make cool profits. (Check section 1J above for more information).

12. POS Business

With 500k, you can start and manage a POS shop, and help people carry out transactions while you get paid for it. (For more information, check section 1K above)

13. Jewelry Business

With 500k, you can start a jewelry business. (Check “section 1 L” for more information).

14. Forex Trading

With 500k you can start trading forex. (Check “section 1 n” for more information).

15. Smoked Fish Business

With 500k you can start smoking fish for sale. (Check “section 1 o” for more information).

16. Tailoring/Fashion Design

(Check section 1p for more information)

17. Bag-making Business

(Check section 1q for more information)

18. Dry Cleaning Service

With 500k you can start a dry cleaning business and make cool money. (Check section 1r for more information).

19. Recharge Card Printing Business

With 500k, you can start a recharge card printing business. (Check section 1s for more information).

20. Agriculture

With 500k you can start a business in any sector of agriculture. Either on a small or medium scale, depending on the sector you chose. (Check section 1t for more information)

21. Real Estate Business  

You can also start a real estate business with 500k, depending on the property available to start with and its condition. (Check Businesses you can start with 200k..t above for more information)

22. Computer Business Center

You can start a computer business center with 500k. (Check Businesses you can start with 200k and above for more information)

Businesses You Can Start With 1M

1. Bakery

You can set up a standard bakery business with ₦1M.  (Check section 4a above for more information).

2. Gas Plant

With 1M Naira, you can start a gas plant in Nigeria. Most kitchens in Nigerian homes and restaurants now depend on cooking gas. So it is a very lucrative business, and with less competition at the moment.

Most people may have to drive or walk some distance before they get to buy gas to fill their cylinders. You can leverage this to set up a gas plant close to the people.

3. Sales Of Mobile Phones

You can also start this business with 1M Naira and make a cool profit. (Check Businesses you can start with 200k..b for more information)

4. Jewelry Business

With 1M, you can start a jewel sales business. (Check “section 1 L” for more information).

5. Forex Trading

With 1M, you can start trading forex. (Check “section 1 n” for more information).

6. Agriculture

With 1M you can start a business in any sector of agriculture. Either on a small or medium scale, depending on the sector you chose. (Check section 1t for more information)

7. Real Estate Business 

You can also start a real estate business with 1M, depending on the property available to start with and its condition. (Check Businesses you can start with 200k..t above for more information)

8. Computer Business Center

You can start a computer business center with 1M. (Check Businesses you can start with 200k..u above for more information)

Conclusion

In conclusion, businesses you can start with these amounts are not limited to what is stated above but this list will give you a sure guide to choosing and starting one to begin your journey to financial freedom.


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