5 Businesses You Can Start With 50K In Nigeria

The current situation of the country has prompted many Nigerians to think of starting their own business.

According to research, the times of economic crisis and financial meltdown are the best periods to start a business.

However, some Nigerians are still scared of venturing into private business for fear of failure. But the fact remains that people are becoming millionaires every day from their personal businesses.

If you are someone who loves to own a business then this article is for you. Read a list of businesses you can start in Nigeria with N50,000 thousand.

Snail Farming;

Snail farming in Nigeria is considered to be one of the most lucrative agro-businesses you can start with low capital.

However, speaking to our correspondent  on how to start a snail business with 50k, Mrs. Glory Ating highlighted the financial plan for a small scale snail farm to be as below

       I.            Cost of structure: with  N 20,000 – N 30,000 you can make a concrete pen with soil deep of about 10 inches, and cover it with screen or wire all around to prevent the snails from escaping

     II.            Cost of breeders: N 10,000 (N 400 each)

  III.            Cost of feed: Snails mainly feeds on green leaves and fruits like Cocoyam leaves, pawpaw leaves, cabbage and lettuce leaves, Mango, pawpaw, banana, tomatoes, and cucumber. so with N 5,000 thousand, your snails can remain healthy.

  IV.            miscellaneous: N 5,000

She further stated that snails take almost a year to mature “so Patience is Key.”

Cake Bakery;

Nigerians desire for cakes has greatly increased in the past years.

This business is a thriving market that requires you to know the technical know-how on providing unique recipe that attracts constant customers, i mean who says no to cake and small chops? Definitely not us!

You can definitely pull this off with less than 50,000 naira by baking and decorating right in your own kitchen.

Perfumery;

 A perfumer Miss Aniekeme Ekop during an interview with our correspondent said “perfume is a consumable so as an entrepreneur you need to look for a business that gives you a good profit margin with less stress.

“With the perfume business you can have over 100% profit, so 50k will give you a bundle package which gives you a 100% profit from sales depending on your salesman skills and target market.”

She added that the 3ml at wholesale can be gotten for  N500  and sold at N1000  with a profit of N500 giving a 100% profit while the  6ml is purchased at  N1000  and sold for  N2000.

Ekop further gave a financial breakdown on how to be a perfumer with N50,000 as seen below

          Cost Of Products:  40pcs of 3ml 10k

                                          10pcs of 6ml 10k

                                          10pcs of 15ml 30k

Home Cooking And Delivery

Food as a commodity will always do well in a competitive market. So you can cook a variety of meals from home and apply customer service then watch people pay good money for your services.

With this business, by the time you then decide to start doing full outdoor catering, people will ask who your God is all over again.

Plantain Chips Making;

 People like chewing stuffs like plantain chips and there is no end to it, so if you engage in the business of producing and supplying it to retailers (shops, marts) you will be making good money on daily basis.

You can render these services with the following financial plan

       I.            Big Frying Pan: N4, 000

     II.            Small Sealing Machine: N12, 000

  III.            The Nylons and Labels: N5, 000

  IV.            Other Utensils: N5, 000

    V.            Cost of Plantains and logistics: N24, 000

With all this, you are sure to have a complete business with a good return on investment (ROI) and minimum risk.