10 Profitable Businesses You Can Start in Nigeria with ₦100,000 and Make at Least ₦5,000 Daily
Starting a business in Nigeria with ₦100,000 may seem challenging, but with strategic planning and dedication, you can turn this modest capital into a profitable venture. Below are 10 detailed business ideas you can start with this budget, including where to source materials in bulk and how to generate a daily income of at least ₦5,000.
1. Small Chops and Street Food Business
Food is a necessity, and small chops like puff-puff, samosas, spring rolls, meat pies, and fried yam or plantain are consistently in high demand.
Steps to Start:
- Buy essential cooking ingredients like flour, oil, and spices.
- Secure a high-traffic location or sell from home with delivery options.
- Promote your snacks through word-of-mouth or social media.
Where to Buy Materials in Bulk:
- Oyingbo Market (Lagos) for flour, sugar, and oil.
- Mile 12 Market (Lagos) for plantains, yam, and vegetables.
Estimated Earnings:
Selling 100 snacks daily at ₦100 each can generate ₦10,000 in revenue, with ₦5,000 or more in profit after expenses.
2. Recharge Card and Data Reselling Business
With Nigeria’s smartphone usage rising, selling recharge cards and mobile data is a highly profitable venture.
Steps to Start:
- Buy airtime in mobile data bulk or register with online platforms for virtual top-ups (VTU).
- Promote your services through social media and WhatsApp groups.
- Expand into mobile banking or utility payment services for more income.
Where to Buy Data or Airtime in Bulk:
- MTN, Airtel, Glo, and 9mobile distributors or VTU platforms like Techflow and King of data
Click HERE to download Techflow app from play store
Estimated Earnings:
Selling only 25 mobile data daily with a profit margin of ₦200 each can earn ₦5,000. Some Data bundles offer even higher margins.
3. POS (Point-of-Sale) Business
POS agent banking is popular in Nigeria, especially in areas with limited banking access. With ₦100,000, you can offer cash withdrawal, deposit, and utility payment services.
Steps to Start:
- Register with a bank or fintech company to get a POS terminal.
- Reserve part of your capital as cash for transactions.
- Set up in a busy area like markets or bus stops.
Where to Get POS Terminals:
- ARCA Network,OPay, MoniePoint, Paga, and Kuda have offices in major cities like Lagos and Abuja.
Estimated Earnings:
Handling 20 transactions daily with an average commission of ₦300 per transaction can yield ₦6,000.
4. Mini-Importation Business
Mini-importation involves buying goods at low prices from international suppliers and selling them at a profit in Nigeria. Items like phone gadgets, accessories, and kitchenware are popular.
Steps to Start:
- Research high-demand products in Nigeria.
- Source products from platforms like Alibaba, Aliexpress, or DHgate.
- Sell through Instagram, Facebook, or WhatsApp.
Where to Source Products:
- Alibaba.com and Aliexpress.com for international imports.
- Trade Fair Complex (Lagos) for locally imported goods.
Estimated Earnings:
Selling 10 items daily with a ₦500 profit margin per item can generate ₦5,000.
5. Laundry and Dry Cleaning Services
Many busy Nigerians prefer outsourcing their laundry, making this a profitable business idea.
Steps to Start:
- Buy a washing machine, iron, detergent, and starch.
- Offer pickup and delivery services to attract more customers.
- Advertise your services to friends, neighbors, and online communities.
Where to Buy Materials:
- Jankara Market (Lagos) for detergent, starch, and ironing supplies.
- Jumia or Konga for affordable washing machines and irons.
Estimated Earnings:
Charging ₦500 per load and handling 10 loads per day can yield ₦5,000.
6. Photography Services
Photography is a growing business in Nigeria, driven by events and social media. You can offer services for events, passport photos, or portraits with a good smartphone or used DSLR camera.
Steps to Start:
- Purchase a smartphone with a good camera or a used DSLR.
- Offer services for social media photos, events, or passport photos.
- Use photo editing software for better quality.
Where to Buy Equipment:
- Computer Village (Ikeja, Lagos) for cameras and photo accessories.
- Jumia for tripods and editing tools.
Estimated Earnings:
Charging ₦500 per photo and handling 10 clients daily can yield ₦5,000.
7. Barbing Salon Business
Barbing services are essential for men and children in Nigeria. With ₦100,000, you can set up a basic barbing salon.
Steps to Start:
- Buy clippers, sterilizers, mirrors, and chairs.
- Rent a small shop or start from home.
- Offer promotions to attract new customers.
Where to Buy Equipment:
- Oshodi Market (Lagos) for clippers and barbering supplies.
- Konga for mirrors and chairs.
Estimated Earnings:
Charging ₦500 per haircut and handling 10 clients per day can generate ₦5,000.
8. Thrift (Okirika) Clothing Business
Selling second-hand clothes is a booming business in Nigeria. You can buy a bale of thrift clothes, sort them, and sell them for profit.
Steps to Start:
- Purchase a bale of second-hand clothes from a reliable supplier.
- Sort and clean the clothes for better presentation.
- Sell at markets, online, or in your neighborhood.
Where to Buy in Bulk:
- Katangowa Market (Lagos) for Okirika bales.
- Aba Market (Abia State) for high-quality thrift items.
Estimated Earnings:
Selling 20 items daily with a ₦250 profit per item can earn ₦5,000.
9. Car Wash Business
With more car owners in Nigeria, a car wash business is a great opportunity.
Steps to Start:
- Purchase a water pump, soap, brushes, and towels.
- Set up in a location with high traffic or space for parking.
- Offer additional services like waxing and interior cleaning.
Where to Buy Equipment:
- Jankara Market (Lagos) for car wash supplies.
- Jumia for portable water pumps and cleaning tools.
Estimated Earnings:
Charging ₦1,000 per car and washing five cars daily can generate ₦5,000.
10. Phone Accessories Business
The demand for phone accessories like chargers, earphones, screen protectors, and cases is ever-growing in Nigeria.
Steps to Start:
- Buy accessories in bulk from a trusted distributor.
- Set up a physical or online shop on social media.
- Promote with discounts or bundle deals to attract more customers.
Where to Buy Accessories in Bulk:
- Computer Village (Ikeja, Lagos) for chargers, phone cases, and headphones.
- Alaba International Market (Lagos) for affordable wholesale prices.
Estimated Earnings:
Selling 10 accessories daily with a ₦500 profit per item can generate ₦5,000.
Tips for Success
- Location: Choose high-traffic areas to attract more customers.
- Social Media Marketing: Use platforms like WhatsApp, Instagram, and Facebook for promotion.
- Customer Service: Excellent service leads to repeat customers and referrals.
- Consistency: Stay dedicated and reinvest profits to grow the business.
Conclusion
With the right business idea, dedication, and customer focus, starting a business in Nigeria with ₦100,000 is achievable. The above ideas are practical and designed to generate a steady daily income of ₦5,000 or more. By leveraging bulk purchasing and effective marketing, you can build a thriving business.
