I see a lot of posts on Facebook asking for businesses one can do with 50,000 naira or less. Sadly, a large majority of the responses these posts get have just Multi Level Marketing (MLM) as suggestions.
If you would like business ideas you can start with 30,000 or less, here are some great ones you should look into:
1. Drop Shipping
Drop shipping is one of the easiest and cheapest businesses you can start and in no time too. The way it works, you find a buyer in need of a particular product and connect him with the manufacturer of the said product. You need not stock the product to sell.
Lots of people are going into dropping shipping and making hefty commissions and you can too.
2. Domain Flipping
With domain flipping, you won’t need more than 10,000 to start.
To become a domain flipper, you either buy an existing domain or get one registered, build the rank to an enviable level and then sell it off.
Getting your domain to this level could take some weeks to a few months to achieve, but if you play your cards well, you could make a lot of money once the domain is ready to be flipped.
Some good places to buy already existing domains are:
You can register brand new domain names at the following sites:
You can sell your domain names here
3. Ebook Writing
I have adverts placed on strategic sites advertising my writing skills and from time to time this fetches me clients.
I got one of such clients two days ago needing an ebook of 10,000 words and offering a rate on N1 per word.
The beauty about ebook writing as a business is that you get to fix your rates and can also decide your working hours.
You can decide to write for people and get paid for your services or choose to write for yourself and publish your books on self-publishing sites like Amazon Kindle Direct Publishing (KDP) or Draft2Digital.
Blogging is a whole new world of its own and a very vast one at that.
It doesn’t take much to start blogging. All you’d require are a registered domain name and hosting plan, a niche to write on, with the zeal to keep at it.
There are also tons of ways to make money from blogging, some of which include affiliate marketing, direct advert placement, sales of products on your blog, sponsored posts, or the use of ads network.
Whichever you decide to go for, be sure your blog is one that offers great value to readers as this is what keeps them coming back.
5. Bedsheet/ Bedding Production
This is yet another business you can start with 30,000 naira or less.
Bedsheet business is quite lucrative as you can make up to 1,750 naira from the sales of one bedsheet.
One little detail you should know before starting though, is that there are different sizes of bedsheets (6 by 6, 4 by 6, student size, baby bed, etc) and you would need a first-hand knowledge of the measurement of each and the prizes they go for to proceed.
Bedsheets Sizes and Measurements
– 6 by 6
For this bed size, you would need three years of fabric for the bed and two for the pillowcases. Each yard makes two pillowcases and that would give you four pillow cases.
– 4 by 6
You would be needing three and one half yards of fabric to make a 4 by y bedsheet. Two and a half yards will be used for the bed itself and one yard for two pillows.
Student Size Bed
For this bed size, you would need one and a half hard of fabric for the bedsheet and one yard for two pillows.
For a baby measure, you would need to take your measurement using centimeters and not inches or yards.
To get the measurement, cut out 150cm by 70cm for the bedsheet and the pillow cases will be measured at 40cm by 60cm
6 Boxers Production
Boxers are a must-have for men and this is what makes it a great business choice.
You can start small by buying a few yards of good, durable fabrics and pay a good tailor to make the boxers.
Next, package them attractively and start marketing them as best you can.
7. E-Payment/POS Business
It’s amazing how many people want a life of ease and comfort and this is where you come in.
People will pay you a little extra, if you can offer them a little comfort, especially in stressful situations.
Most ATMs have long queues of people wanting to make withdrawals. If you can offer them a service where you make withdrawals from their account at a token, you stand to make a tidy profit daily.