What business can I start with 150k in Nigeria? Starting a business with 150K is quite possible in Nigeria, especially if you have a good business idea.
However, supposing you want to invest 150K in a new venture, there are several profitable businesses to explore in Nigeria. This post will cover some of the businesses or companies in Nigeria; you can start with 150K.
What Business Can I Start with 150k in Nigeria? To find successful business ideas, it is essential to carry out in-depth market research before starting an enterprise. When setting up a business, you must seek out markets or sectors with lots of growth potential, little rivalry, and strong demand.
Also, you must consider elements such as consumer preferences, market trends, and the viability of the business concept within your financial constraints. Now, let us consider some business ideas you can start with 150K in Nigeria.
Top Best Lucrative Business in Nigeria You can Start with 150K. Whether you are a student graduate, and even if you are not educated, here are eight lucrative business ideas you can start with 150K in Nigeria:
Online product sales are growing in popularity in Nigeria and worldwide due to the increased use of social media and e-commerce platforms. Products, including apparel, electronics, and cosmetics, can be sold on e-commerce sites like Jumia, Konga, Jiji, and Instagram.
The POS industry has emerged as a new business opportunity in Nigeria due to the introduction of POS and the quick expansion of numerous fintech companies.
Despite its popularity, this is one of the most profitable ventures you can start in Nigeria with N150,000 since, in some regions, there is still a strong need for point-of-sale (POS) agents.
Phone Accessories Business
Another profitable business idea started in Nigeria with 150K is selling phones and other mobile accessories. Locate a kiosk or small store that you can open with the 150,000 Naira you have.
Then, to purchase various accessories, search for wholesalers of mobile accessories at marketplaces like Alaba in Lagos. All you have to do to get customers to your kiosk is display the things you have purchased in several ways.
Pastries & Baking Business
Another fantastic business to start with 150K for students is the production and sales of little chops like puff puff, chin chin, plantain chips, and baking cakes for birthday and wedding parties.
Because cakes are famous among students due to frequent birthday celebrations, they are also relatively easy to make, making it the perfect business opportunity for students.
If your products are delicious, attractive, and reasonably priced, you will continue to receive orders once you start selling to friends, classmates, and other campus.
The laundry business model is popular among young people because customers, particularly CEOs, doctors, bankers, and other professionals, are prepared to spend N1500 for each fabric to be washed and ironed.
You can start this business without a physical store if you can attract customers with banners, posters, and internet ads. All you need are the required laundry supplies, a pressing iron, and a washing machine.
One of the most well-liked concepts for Internet businesses is affiliate marketing. Starting this business is incredibly simple because all you have to do is refer customers to products and get paid a commission when they purchase.
You must locate a reputable affiliate network, register, obtain your affiliate link, and use your N150,000 startup funds to advertise your business online.
You can think about training as a tailor and launching your own business. Though it can be costly to purchase a machine or space, $150k might not be enough to start your tailoring firm.
Nevertheless, you could use the money to begin learning the industry and possibly form a collaboration with another tailor.
Another profitable business in Nigeria you may start with $150,000 is selling clothes. This company falls into two categories. You can sell indigenous apparel materials like lace, Ankara, and other materials, or what most Nigerians call “English Wears.”
Living in or near cities like Aba, Ibadan, Kano, and Lagos is ideal for this business because these are the regions where you can readily find wholesalers of all kinds of clothing materials at the lowest prices.
What business can I start with 150K in Lagos?
You can start a laundry business, POS business, jewellery sales business, gaming shop, or real estate business in Lagos with 150K.
How long does it take for an upcoming business to start making money?
How long it takes for a new to start making a profit varies based on several variables, including the industry, business plan, state of the market, and your level of work. It is essential to have perseverance, be patient, and concentrate on providing value to your clients.
What business can I start with 20 thousand Naira?
Every day, people experience problems with their phone accessories, namely the chargers. If you are in a busy area, this business is quite lucrative. It doesn’t cost much to start this business; all you need is 20,000 naira. Accessories for phones include things like memory cards, USB drives, air pies, chargers, and more.
How can I go over barriers in my new business venture?
There are obstacles in operating a small business, but you may overcome them with perseverance and the correct attitude. Seek guidance from mentors or professional networks, learn and adjust constantly, and maintain focus on your long-term objectives.