Starting business with 5k to 10k is not what anyone want but what to do when there is no capital to startup a gigantic business, but let me tell you something business you start with 5k to 10k stand a chance to succeed than those that require a lot of capital.
Why?
By thinking of starting business with 10k or 5k i assume you don’t have enough, in short you are broke; don’t be angry it is for good.
People that are broke has advantage of been “broke” they will be willing and ready to do anything that require to grow their business, because they are not in their comfort zone, also no one will tell you to be discipline in fact I’m sure the 5k to 10k you want to use to start your business is from saving which come with discipline.
If you jump at this article, it purpose is to show you deferent business you can do with 5k to 10k in Nigeria. The list is from research and experience.
Business you can start with 5k to 10k in Nigeria
Below are the businesses you can start with that kind of money.
Note; some of this business may be service based business or look too low please don’t be annoyed it is a stepping stone for you of course you will move to other more profitable business when you make money.
1) Okirika business
I’m sure you would have heard about this business you just didn’t give it a second thought well the business is very lucrative and does not require much capital, you can simply start it with 5k to 10k.
Are you sure?
Yes very sure, the reason people think it require huge amount of money is because people want to start big, they want to starting exporting bale of okirika cloth, rent large shop, but you won’t do that you will not even rent a shop.
To start do the following
Locate okirika wholesaler in your location
Buy 1 set of okirika, it is around 8k to 20k depending on your location
You will find 180 to 200 cloth in the set and you can sell it for more than #500, Isn’t that good.
If in your location 1 set is more than 10k, strike a deal with the wholesaler and purchase half.
On the issue of shop, you don’t need to rent a shop for now, find a spot in a traffic place and display your ware they might ask you to pay #500 to #1000 depending on your location.
2) Table/pure water and soft drink business
This requires some business acumen, pure water and soft drink is always in demand especially during dry season, it is very lucrative.
Are you suggesting I start hawking?
Of courses no, you don’t need to hawk. Once you have your 5k to 10k go to wholesaler or factory strike a deal with them, find a spot in high traffic location, buy some blocks and put it a cooler together with your pure water.
To prevent sun burn, you can get an umbrella.
Entice and strike a deal with the hawkers in that location by reducing the price even if it is #5. Before you know those hawker will start coming to you.
Why will hawker come to me can’t they buy it themselves?
Hawkers have bad mentality, they see it as a day job not business, they don’t want to put their money into it, what if they don’t sell and the ice block waste away, they don’t want to incur any cost.
That is the work of entrepreneur like you.
3) Noodles selling business
Haa, you mean Hausa noodle business, it is competitive beside It look less modern.
Is that your thought?
Who tell you it is only Hausa that can sell noodles, I don’t think there is any exclusive right on noodles.
Noodles cooking business is very lucrative and you don’t have to do it like Hausa do it. You can create your own recipe and include home delivery.
You can start it with 5k to 10k and expand as you make more sell.
You can also add Spaghetti to your menu, just ensure you have a good recipe, more better than the Hausa guys
To engage in home delivery, whenever se one come to your place to eat tell them you also do home delivery. You can also boost sale by posting your food on social media.
I will repeat this, make sure your noodles taste is top notch if not don’t go in to it.
4) Buy low and sell high
If you are rugged and ready to undergo the stress of traveling you can engage in this business.
I know what you are thinking is it with #10,000 I will use to buy and sell no way? Did I get it?
You can actually do the business with 5k to 10k just that you will not aim high; you will buy not so common goods from the village/ local area and sell high in a high traffic place.
For instance you can go to a nearby village and buy Garri surely at lower price and sell it at high price when you get to the city, or anything that is lesser in the village like fruit.
If you are living in a location far from village, another way to go about it is to find a slum where thing are cheap, package it and sell it high in highbrow area.
5) Liquid soap production/ retailing
Another business you can do with 5k to 10k in Nigeria is liquid soap production business.
There are two way to go at liquid soap business you can either engage in production, or buy from producer and sell to final consumer.
But how?
It is simple look for some one that is already making money with soap production business, do everything to make that person teach you once you know the basic start your business.
You can start it with 5k to 10k and it is very lucrative. Your first customer will be your neighbor, family and friends so let them know once you start.
If you think it will be too stressful, you can buy from wholesaler and retail it in your area but know that it is less profitable to liquid soap production but all the same you will make your own money.
6) Home lesson
If you are good in Math, English and other subject require in WAEC and JAMB , start a home lesson where you will teach student at their various home, it require no money, but it is more applicable to teacher who are already teaching in a school.
If you are not a teacher setup Saturday lesson and before you know it will grow and people will start contacting you for home lesson, in fact you might not even engage in home lesson once you start making money.
7) Real estate agency
If you know your onion you don’t need a lot of money to start this business. There are three way to go at real estate agency and they are.
1 you can join real estate company and become their realtor, your job is to drive customer to them why they pay you commission on every purchase.
2) This require business acumen, look for good building and structure, set up a deal with the owner and find buyer online and anywhere. It looks simple but hard you can also include land in to it.
This business is also called land and building flipping.
3) Become a care taker, find people who are looking for house to rent online or anywhere strike a deal with them and show them the house you find. Before you know it you will become big and rent an office.
8) eBook selling
This is another business you can start with 5k to 10k in Nigeria, if you have knowledge or that people are in need of.
I don’t think I have one?
You do, I’m sure of that, there will be one problem you have encounter and win in your life journey, look deep into your life I’m sure you will find one and do you know what people are passing through that same problem and they want solution at all cost, problem like marriage, business, heath.
Pen down the solution in a soft copy, proofread it, format it, find your buyer and sell it.
As time goes on you will become authority in that niche people will start calling you for speech, step by step you will achieve your dream.
9) Bead making
This also requires knowledge and you can get it in 1 to 3 month. Locate some one that is making money with bead making and learn it.
Once you learn it start making your bead and use social media as your marketing channel. Post picture of your bead regularly on social media and be consistent people will surely know you and when they do, you are in money.
10) Blogging
You should start this only if you have domain expertise and experience. You can start blogging with 5k to 10k in Nigeria as long as it is Nigeria host, in fact you can start it for free using blogger; a web app own by Google but not advisable if you want to be serious with the business.
The main product of blog is content and as you produce regularly the more your traffic will be, but make sure it is not a nonsense content that won’t add value to reader.
To make money from blogging submit your blog to AdSense, use affiliate method or sell your own product. Blogging is hard and it takes time to yield result but as long as you are consistent you will surely make your money.
I will repeat myself; please do not engage in blogging if you don’t have what it takes, copy and paste will take you far.
11) Egg supply and distribution
This is another business you can do with 5k to 10k in Nigeria, to start locate poultry farm in your location and buy from them, you might not be able to buy more than 5 to 10 crate because of transportation cost but it is a high demand product, it won’t be long before you will go back to buy again.
Don’t spend your capital and profit at least for 5 rounds, reinvest it into the business and before you know you will start collecting 30 to 50 creates.
Apart from selling to your neighbor, friends and family, look for Hausa (indomie seller) and other food vendor.
12) Post construction cleaning business
This is does not require much capital, your Job is to organize people that will clean post construction house. Most of the thing you will be washing from this house are cement, paint, debris and used wood.
Buy cleaning material and locate area undergoing development, strike a deal with the engineer / bricklayer you find there, they will help you to secure the contract in hope that you will give them a commission.
Do not go to the owner of the house without meeting the bricklayer first, it will not end well unless you know the owner personally.
Surely at your first outing you won’t be lucky, don’t be dejected keep looking and showcase your wok on social media, once people know you they will start contacting you.
To get worker that will clean should not be a problem since many are jobless and on the lookout for job but make sure you treat them well.
Tips to succeed in business
Consistency
No business is easy that is why people run away from it, only your consistency will help you, even if you get it wrong at first you will later get it right remember Elon Musk he tried many times before he finally make a rocket that can land on its own.
Deliver better product and service
To win competition you need to deliver better service and product. These are the thing that will lead more customers to you.
Do not cut corner
At some point you will lose hope in the business perhaps revenue is not coming as it should and you want to reduce the quality, please don’t do it if you do your days are numbered.
Marketing
Once you get some money, don’t forget to market your product or services, don’t think because you are making better service or product you don’t need marketing. Better product needs marketing to sell more.
Conclusion
Above are the business you can do with 5k to 10k in Nigeria, you will agree that we did just to it, it is left to you to pick one and start it.
Do not postpone, it’s enough of been wantrepreneur move to startuppreneur club.
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