25 Amazing Businesses You Can Start With 50K and grow Into Millions

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Reviewed by Soliu.

Some businesses you can start with 50k in Nigeria include selling food and drinks, retail, crop farming, raising chickens, fish, and snails, making soap, candles, perfume, beads, jewelry, crafts, blogging, dropshipping, affiliate marketing, etc.

The Nigerian population is growing, so there are many chances for individuals to become business owners and start the growth of their companies. 

But it can be expensive to start a business, and not everyone can afford to put a lot of money down at once.

If you want to start a business in Nigeria with 50k or less, numerous choices are open. This article gives you more than 50 businesses you can start with 50k.

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Why start a business in Nigeria?

Many things could make you want to start a business in Nigeria. These are just a few:

Large population: Nigeria is home to more than 200 million people, making it one of the world’s most significant countries in terms of population. Many people might be interested in buying your goods and services.

Rapid economic growth: Nigeria’s economy is increasing, and businesses have a lot of chances to do well.

A government that backs entrepreneurs: The Nigerian government backs entrepreneurs and has many programs to help businesses grow.

How to use 50k to start a business in Nigeria

In Nigeria, you can start a business with 50k, but you must carefully plan and carry out your plans. Here are some ideas:

  1. Pick a business you are interested in and know about. This will make it easier to start and be successful.
  1. Do only a little at a time; start small and build up slowly. Start with a small business that you know how to run well.
  1. Use your imagination and be clever. There are many ways to save money when starting a business. You can sell your business for free on social media and run your business from home to save money on rent.
  1. Make connections with other business owners. In Nigeria, many groups and communities help business owners. Getting to know other business owners can help you learn from their mistakes and get help for your own.

General tips to start a business in Nigeria 

  1. Pick a business that you are interested in and know a bit about. You will find it easier to start and do well with this.
  1. Learn what you can. It would help if you learned about the market and studied before starting a business. This will help you make a good plan for your business.
  1. Make a plan for your business. A business plan tells you how to run your company. It should list your business’s goals, plans, and ways to reach those goals.
  1. Get the licenses and permits you need. You should get specific permits and licenses for the type of business you want to start. 

You should study and get the proper paperwork to ensure your business meets the standards.

  1. Get your business out there. Once your business is up and running, you must get people interested. There are many ways to sell your business, such as through word of mouth, social media, and online ads.
  1. Give excellent service to your customers. Every business needs to have good customer service. Make sure that your customers have the best experience possible.

50 Businesses you can start with 50k currently in Nigeria

Without further ado, the following are the top businesses you can start with 50k:

1. Baking

Businesses you can start with 50k

To start a baking business, you can sell cakes, cookies, and other baked goods from home. You can start selling to family and friends and slowly get more customers by advertising your business on social media and other sites.

2. Fast-food business

Businesses you can start with 50k

One of the top businesses you can start with 50k is the fast-food business. To start a small fast-food business, you can sell famous foods like burgers, fries, and chicken. At first, you can sell from a food cart or a stand. Eventually, you can open a small restaurant.

3. Fruit chips

Businesses you can start with 50k

In Nigeria, people like to snack on plantain chips. To start a plantain chip business, you can fry and package plantain chips at home. After that, you can sell your chips to stores and restaurants in your area.

4. Drinks and water resell 

Businesses you can start with 50k

If you want to start a simple business with a bit of 50k, sell water and drinks. First, you could sell water and drinks at a market or busy crossroads. You can also sell water and drinks at events like music and sports games.

To begin a drinks and water business 

1. Figure out where you will sell your water and drinks.

2. Get a cooler or fridge to keep your drinks cool.

3. Get water and drinks from a wholesaler.

4. Set the prices.

5. Get people to come to your business by advertising it.

5. Smoothie production 

Businesses you can start with 50k

Smoothies are a tasty and good-for-you snack. Mixing fruits and veggies and selling them in cups, you can start a smoothie business from home. You can also open a juice stand at a market or event to start your own business.

To begin a smoothie business:

1. Get yourself a mixer.

2. Get fresh veggies and fruits.

3. Make a bunch of different smoothie recipes.

4. Set the prices.

5. Get people to come to your business by advertising it.

6. Snacks

Businesses you can start with 50k

Worthy of mention on the list of the top businesses you can start with 50k is snacks. Snacks are a popular and easy way to eat. You could sell ready-made snacks like popcorn, chips, and candy or sell your own. You can sell your snacks at events, markets, or online.

To begin a snack company:

1. Pick a snack that you would like to sell.

2. You can either make your snacks or buy them in bulk.

3. Putting your snacks in pretty boxes is a good idea.

4. Set the prices.

5. Get people to come to your business by advertising it.

7. Ice cream business 

Businesses you can start with 50k

A lot of people like ice cream for dinner. You could use a cart or truck to sell ice cream as your first business. You can also open an ice cream shop and start an ice cream company.

To open an ice cream shop:

1. Get an ice cream truck or cart.

2. Get ice cream from a big box store.

3. Pick out the options you want to offer.

4. Set the prices.

5. Get people to come to your business by advertising it.

8. Catering services 

Businesses you can start with 50k

Serving food at events like weddings, parties, and business meetings is what “catering” is all about. If you cook food in your house and bring it to events, you can start a catering business from home. 

You can also rent an industrial kitchen and start a catering service.

To start a service that does catering:

1. Pick out the kind of food you want to serve.

2. Make a food list.

3. Set the prices.

4. Get people to come to your business by advertising it.

9. Food delivery service

Businesses you can start with 50k

Do you know that food delivery is one of the unique businesses you can start with 50k? People who work in “food delivery” bring food from places to people’s homes. Working with nearby places can help you start a food delivery business. 

You could also cook food and bring it to people’s homes as a food delivery service.

To begin a food delivery service:

1. You can work with nearby businesses or make your food.

2. Get a car so you can deliver the food.

3. Set up a way to take orders and track them.

4. Get people to come to your business by advertising it.

10. Restaurant

Making meals ahead of time and bringing them to people is what “meal preparation” is all about. You can start a business making meals for people from home by cooking meals in your kitchen and bringing them to their homes. 

You can also rent an industrial kitchen and start a business making meals.

To start a Restaurant :

1. Pick out the kinds of food you want to cook.

2. Make a food list.

3. Set the prices.

4. Get people to come to your business by advertising it.

11. cooking school

Businesses you can start with 50k

Many people like to take cooking lessons to learn how to make new foods. If you want to run a cooking class business out of your home, you can do it in your kitchen. You can also rent an industrial kitchen and start a cooking class business.

To open a cooking school:

1. Pick out the kind of food classes you want to run.

2. Make a lesson plan.

3. Set the prices.

4. Get people to come to your business by advertising it.

12. Styling

Businesses you can start with 50k

You can start your own styling business if you know how. You can start by selling your services to family and friends and then slowly get more people to use them. 

You can also use social media and other sites to spread the word about your business.

13. Barbering

Businesses you can start with 50k

You can start your own barbering business if you know how. You can start by selling your services to family and friends and slowly get more people to use them. 

You can also use social media and other sites to spread the word about your business.

14. Nail art

Businesses you can start with 50k

A lot of people in Nigeria like getting their nails done. You can start a nail art business by working for family and friends first and slowly getting more customers. 

You can also use social media and other sites to spread the word about your business.

15. The facial makeup art

Businesses you can start with 50k

Makeup artistry is the business of putting on makeup for important events like weddings, parties, and photo shoots. The best way to start a makeup artistry business is to learn the skills and create a resume. 

After that, you can get possible clients to know about your services through networking, social media, and word of mouth.

 16. cloth making 

Businesses you can start with 50k

Making clothes fit perfectly for each customer is what tailoring is all about. You can start your own tailoring business from home by getting a sewing machine and other simple tools. 

After that, you can get possible clients to know about your services through networking, social media, and word of mouth.

17. laundry services

Businesses you can start with 50k

The laundry business cleans and irons people’s clothes for money. If you buy a washer and dryer, you can start a cleaning business from home. 

After that, you can get possible clients to know about your services through networking, social media, and word of mouth.

18. leaning services 

Businesses you can start with 50k

When you clean for a living, you do it for other people. Getting simple cleaning materials is all you need to start a cleaning business. 

After that, you can get possible clients to know about your services through networking, social media, and word of mouth.

19. pets setting 

Businesses you can start with 50k

Pet sitting is a business where people care for pets while their owners are away. If you want to start a pet-keeping business, you can get clients using social media, networking, and word of mouth.

20. Babysitting 

Businesses you can start with 50k

Someone who babysits kids while their parents are away makes a living. You can start a babysitting business by telling people about your services on social media, in person, and through word of mouth.

21. Tutoring/Helping with schoolwork

Tutoring/Helping with schoolwork

Tutoring is the job of teaching kids one-on-one. You can start a teaching business by telling people about it on social media, in person, and through word of mouth.

22. Event planning 

Businesses you can start with 50k

The job of an event planner is to set up and run events like weddings, parties, and workshops. Social media, networking, and word of mouth are all good ways to get people interested in your event planning services so you can start your own business.

23. Photography

Photography

Photography is a job where people pay you to take pictures for them. Getting a camera and advertising your services on social media, networking, and word of mouth are all things you can do to start a photography business.

24. Recording videos

Videography is the business of making movies for other people and editing them. You can start a photography business by buying a camera and telling people about your services on social media, in person, and through word of mouth.

25. Management of social media

Businesses you can start with 50k

The job of social media managers is to keep companies’ social media accounts in order. You can nurture a social media management business by telling people about your services on social media, in person, and through word of mouth.

26. Web Designing 

Businesses you can start with 50k

Web design is a business that makes websites for other people. You can start your web design business by learning how to code and getting people to know about your services through networking, social media, and word of mouth.

 27. graphics design 

Businesses you can start with 50k

Graphic design is the field that makes logos, signs, drawings, and other visual ideas. 

Learning how to utilize graphic design tools and getting the word out about your services on social media, networking, and word of mouth are all things you can do to start your own graphic design business.

28. content Writing

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Writing content for websites, blogs, and social media is what content writing is all about. You can get people interested in your writing services by using social media, networking, and word of mouth to promote your business.

29. English translation

Businesses you can start with 50k

When you translate, you move words from one tongue to another. To get people to hire you as a translator, you can use social media, networking, and word of mouth to get the word out.

30. Virtual Assistant 

A virtual assistant helps clients with administrative, technical, or artistic tasks from afar. To get clients for your virtual assistant business, you can use social media, networking, and word of mouth to get the word out.

31. Thrifting 

Businesses you can start with 50k

People who go into thrifting buy used clothes and items at thrift stores and then sell them for a profit. You can start a thrift store business by buying things you think you can sell for more than you paid for them at local thrift stores. 

Afterwards, you can market your things at a sale market or web store.

32. Selling household items

Businesses you can start with 50k

In Nigeria, selling things for the home is another popular way to make money. If you want to start this business, you can sell home goods in a shop, online, or at a market. 

To start this business, you must buy home goods from a supplier or maker. You must also develop a marketing plan to get people to buy from you.

33. Selling beauty and makeup items

Selling beauty and makeup items

In Nigeria, selling beauty and makeup is another popular way to make money. You can start this company by selling beauty and makeup items in a shop, at a market, or online. 

To start this business, you must buy beauty and makeup from a wholesaler or producer. You must also develop a marketing plan to get people to buy from you.

34. Selling Arts and crafts

Another popular way to make money in Nigeria is to sell arts and crafts. To start this business, you could open a store and sell arts and crafts online or at a market. 

To start this business, you must make or buy your crafts from a wholesaler or maker. You must also develop a marketing plan to get people to buy from you.

35. Making crafts

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Craft-making is a business that makes things from scratch. Crafts make great gifts and home decor, and the market for handcrafted crafts is growing. 

To start a craft-making business, you must buy craft materials and learn how to make crafts. After that, you can sell your projects in shops or online.

36. Poultry farming 

Businesses you can start with 50k

Poultry farming is the business of keeping birds for their meat or eggs. A small amount of money can get you started in the chicken farming business. 

All you need is a few chickens and a simple chicken coop. Then you can sell your meat and eggs to nearby shops.

37. Fish farming 

Fish farming 

Farming fish means taking care of fish in tanks or ponds for a living. It costs little to start a fish-growing business. 

You only need a few fish and a simple fish tank or pond. After that, you can sell your fish to stores in your area.

38. Farming snails

Farming snails

You can do snail farming if you want to raise snails for food or their shells. And in Nigeria, people eat snails for energy. You can also use their shells to make jewelry and other crafts. 

You will need to buy some snails and build a cage for them to start a snail farming business. After that, you can feed your snails and get their eggs. 

You can sell your snails to restaurants and shops once they are big enough.

39. Making soap

Businesses you can start with 50k

Making soap from scratch is what soap-making is all about. People like to use soap around the house, and the market for homemade soap is growing. 

You must learn how to make soap and buy the necessary tools to start your own business. After that, you can sell your soap online or in shops near you.

40. Making candles

Businesses you can start with 50k

Making candles from scratch is what candle making is all about. Many people like to decorate their homes with candles, and the market for handmade candles is rising. 

You must learn to make candles and buy the tools to start your business. After that, you can sell your candles to shops near you or online.

41. Making perfume

Making perfume

Making perfume from scratch is what perfume making is all about. People like to treat themselves to expensive things like perfume, and the market for handmade perfume is growing. 

You must learn how to make perfume and buy the tools to start your own perfume business. After that, you can sell your perfume in shops or online.

42. Making beads

Businesses you can start with 50k

Making beads from scratch is what bead-making is all about. Many people like to make crafts with beads, and the market for handmade beads is growing. 

You must learn to make beads and buy the tools to start your bead-making business. After that, you can sell your beads online or at craft shops near you.

43. Making jewelry

Businesses you can start with 50k

Making jewelry from scratch is what jewelry-making is all about. Many people like to wear jewelry, and the market for handcrafted jewelry is growing. You must learn to make jewelry and buy the tools to start your own business. After that, you can sell your items in shops near you or online.

44. Blogging

Businesses you can start with 50k

Blogging is the business of writing things on a website and putting them online. Blogs can be about anything, and people want better blog posts more and more. 

You need to make a website and start writing blog posts if you want to start a blogging business. Afterwards, you can profit from your blog by selling goods and services, running ads, or using partner marketing.

45. Video blogging

Businesses you can start with 50k

Vlogging is making videos and posting them on a website or a place for sharing videos. Vlogs can be about anything, and people want more high-quality material. 

To start a blogging business, you must make a video page and post vlogs. After that, you can profit from your blog channel by selling goods and services, running ads, or using partner marketing.

46. Join affiliate marketing

Affiliate marketing

As an affiliate marketer, you help other people sell their goods or services in exchange for a fee. To start an affiliate marketing business, you must sign up for an affiliate program and tell your audience about the goods or services. 

Putting ad links on your website, social media posts, or email messages can help you make money.

47. Dropshipping

Dropshipping

When you use dropshipping to run your business, you sell things without storing them. When a customer makes an order, all you have to do is call the source, and they will send the item straight to the customer. 

To start a business, you must make a website and find sellers offering dropshipping services. After that, you can put their goods on your website and start selling them.

49. Agriculture

Women working on rice plantation

A big part of Nigeria’s income is agriculture. Growing food or caring for animals can help you start a small farming business. 

You can begin with a small piece of land and a few animals. As your business grows, you can add more land and animals.

50. Selling stationery 

In Nigeria, selling books and office supplies is another common way to make money. You could open a store, sell books and stationery at a market, or start this business online. 

To start this business, you must buy books and office supplies from a wholesaler or manufacturer. You must also develop a marketing plan to get people to buy from you.

These are just a few businesses you can start with 50k. It is possible to start a business and become an entrepreneur if you put in the time and effort. 

How to start a small-scale business 

1. Do your homework. Knowing the market before starting any business is essential. This will help you make a good plan for your business.

2. Make a business plan. A business plan is a road map for your company. It should list your business’s goals, plans, and ways to reach those goals.

3. Get the permits and licenses you need. The permits and licenses you need depend on the type of business you are beginning. You should study and get the proper paperwork to ensure your business meets the standards.

4. Market your business. Let people know about your new business once it is up and running. There are many ways to sell your business, such as through word of mouth, social media, and online ads.

5. Offer excellent customer service. Any business needs to have good customer service. Make sure that your customers have the best experience possible.

Conclusion

Having only 50k to start with will not stop you from following your business dreams if you work hard and do not give up. You should pick a business you are interested in and know about. 

Learn as much as you can and make a good company plan. Get the licenses and permits you need. Effectively market your business and give excellent customer service.

Do you have other Businesses you can start with 50k? Let us in on that secret as we move! 


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19 thoughts on “25 Amazing Businesses You Can Start With 50K and grow Into Millions”

  1. It is very true that with 50k you can start a business. Food and phone accessories are lucrative here in Nigeria daily. I have design a business that i will soon start and make money. Is food. I sincerely key in to all you listed here. God Almighty bless you

    Reply

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