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10+ Lucrative Businesses You Can Start With ₦30,000 In Nigeria

10+ Lucrative Businesses You Can Start With ₦30,000 In Nigeria

In this article, we'd be exploring some highly profitable businesses you can venture into in Nigeria with capital as low as 30,000 Naira.

Starting a business is one of the steps you'll need to take in order to achieve financial freedom. By business, I'm talking about engaging in a commercial activity, whether you're buying, selling or even offering a service.

Google defines business as a 'person's regular occupation, profession, or trade' while Collins Dictionary defines it as 'work relating to the production, buying, and selling of goods or services.' With the above definitions, you'd agree with me that you don't necessarily have to raise millions in order to engage in business, you just have to offer something.

What kind of business can I start with 30000 Naira?

You might be thinking of the possibility of starting a business with less than ₦1 million in Nigeria, considering the current economy that we find ourselves in.

Well, join me as I reveal some highly profitable, yet low-capital businesses you can engage in Nigeria:

• Home tutoring services

If you enjoy teaching the younger ones, you can consider venturing into home tutoring. In case you don't know what it means, in-home tutoring is a form of tutoring that occurs in the home. Unlike the classroom teaching method where the students go to school, you as the tutor will have to visit your client's house to teach his or her wards at agreed intervals.

As a home tutor, you'll in most cases, earn more than a regular teacher's salary, thanks to the fact that you can reach different students in a day. While growing up, my Mum paid our Physics and Mathematics home tutors per hour, and they came around after they were done with their regular workplaces.

You can start small and recruit more teaching staff as you get more clients. That way, your staff can be handling several jobs while you concentrate on growing the business.

• Popcorn business

You wouldn't believe how lucrative this business is until you converse with someone that is into it. Popcorn has such high-profit margins that it wouldn't take you long to recover the capital you invested into it.

To start a lucrative popcorn business, you need:

  - Popcorn machine: The prices vary, ranging from ₦25,000 to as high as ₦750,000, so you'll go for your budget, remember, there's always room for an increase.
  - Popcorn kernels: Popcorn kernels resemble corn-on-the-cob in appearance and cultivation, but have the ability to pop. You can buy them in your local markets.
  - Oils
  - Salts
  - Sugar
  - Merchandising bags.

• Mushroom farming

Edible mushrooms are rich in the B vitamins: niacin, riboflavin and pantothenic acid. Riboflavin is good for red blood cells while Niacin is good for the digestive system and for maintaining healthy skin. As more individuals are getting enlightened on the health benefits of these fleshy fungi, the demand for them keeps on increasing day by day.

To venture into mushroom farming, you'll need the following: 

  - A grow room
  - Mushroom spawn
  - Straw
  - Casing soil
  - Water

You can buy the straw and casing soil from an agricultural store or a local garden centre close to you. About the grow room, it can be rented or bought, depending on your budget.

• Plantain chips

The plantain chips business is another small-scale business you can venture into with little investment capital. Plantain is one of the most important staple foods in Nigeria, and West Africa as a whole, It is rich in fibre and contains some essential vitamins and minerals, plus carbohydrates.

One good thing about this business is that it can be started on a small scale with little or no investment in equipment. The plantain, which is the major raw material can be sourced in different Nigerian states, especially Southwestern and South Eastern States. Middle Belt states of Kogi and Plateau also grow plantains for commercial purposes.

• Noodles cooking business

If you plan on running your business in a campus area, you could consider venturing into noodles cooking. Instant noodles are one of the favourite foods among Nigerians, especially students. There are more than 10 popular noodles brands, ranging from Tummy Tummy to Indomie and others.

To start a lucrative noodles business, you'll need to choose a brand that people love most. I'd recommend in some cases, having different brands so your customers will choose which they want you to prepare for them.

Asides from the noodles, you'll also need to have a gas cooker or any other good source of fuel, cooking utensils, plates, spoons, forks takeaway packs and of course, crates of eggs and other spices that you'll use in preparing the food.

• Blogging

 Blogging refers to writing, photography, and other media that are self-published online. While many Nigerians engage in news blogging, there are thousands of untapped niches that one can venture into that are far more lucrative than writing on news or entertainment.

Do you have knowledge of anything that you think the world would enjoy reading? You can basically create a blog for sharing those ideas. Thanks to search engines, you don't have to break your pockets in order to generate traffic once you know how to target the right keywords.

To start a lucrative blog, you'll first buy your host and domain from a reliable hosting platform. I always recommend Namecheap, because I've been using their services for more than two years and so far, I've not had any reason to switch from them. You can check out the Namecheap website for their pricing. Also, if you're interested in a discount, you can click this link to access it now.

Also, if you're interested in learning how to become a professional blogger, Igbo Clifford has published an eBook that highlights everything you need to know about succeeding as a blogger in Nigeria. The 152-page eBook covers various topics, ranging from choosing a niche to generating traffic and much more.

The eBook titled 'Blogging 101 – The Millionaire Next Door' originally costs ₦10,000 but he's selling it for ₦4500 on his official website. You can out more about the eBook by visiting this link.

• Small chops business

Small chops business basically involves selling small quantities of different things like samosa, snails, barbecued goat meat (Asun), mini sausage rolls, puff puff, and many other things packaged together on a plate. Small chops businesses are getting really popular in school campuses, so to beat the competition, you really need to stand out.

One good thing about this business is that it can be done by anyone with knowledge of baking and frying. One secret to selling really well is getting a good location. Asides from renting the shop, you can start the business with very little capital.

• Online arbitrage business

Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from tiny differences in the asset's listed price. Big grammar? Arbitrage simply means buying something at a low price and selling it in a market where the price is higher for profit.

Different things can be exploited to make a profit in the arbitrage business; differences in USD/NGN rates across different financial institutions, differences in crypto prices across various crypto apps, differences in product prices across different online shops and more.

To actually earn good money from the arbitrage business you have to have some good capital, especially in the crypto world where the price differences aren't really that significant. For example, when you buy let's say, Bitcoin on Binance and transfer it to Luno, you'll put different things, including the charges into consideration when calculating your expected profit. If you're not using significant capital, you might end up not realising anything at the end of the cycle.

Another type of arbitrage that you can engage in is buying products from one eCommerce platform and selling on the other for a higher profit.

• Mini importation

Mini importation business involves purchasing goods from overseas and reselling them in Nigeria for profit. In short, mini-importation means 'small-scale importation'. It is an advanced form of small-scale business that allows you to buy goods from overseas directly from the manufacturers at an affordable rate.

The first thing you need to do venturing into mini importation is choosing a niche and sourcing for products. Many business people prefer Chinese platforms like Aliexpress and Alibaba because they tend to sell products cheaper, remember you're there for the profit.

I'd however advise that you always check reviews before making payments so you know what previous customers have to say about the products.

• Home cleaning business

I recently relocated to a bigger apartment and I know how much I paid a professional cleaner to help me clean up the place before I started putting the properties. Why will I waste my time cleaning when I have someone I can pay to do it while I concentrate on other things?

The cleaning industry is getting really huge. According to GrandViewResearch.com, the global contract cleaning services market size was estimated at USD 292.6 billion in 2019 and was expected to reach USD 308.7 billion in 2020. If you're passionate about cleaning things, you can really tap from a portion of this booming industry.

Other lucrative businesses you can start with less than ₦30,000 as a student in Nigeria

• Dropshipping
• Fruit salad business
• Small retail stand (Kiosk)
• Social media influencing
• Laundry services
• Selling fingerlings
• Copywriting
• YouTubing 
• Logo and Graphic Design
• Soap Production
• Trading water/drinks

Conclusion:

There are more than a hundred businesses you can venture into with little capital in Nigeria. The secret to succeeding in the business is doing what you're really passionate about. the passion keeps you going before the business starts paying.

What more? What did I miss? Kindly drop us a comment and don't forget to share.

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