Lack of money is usually the excuse many people give for not starting a business, but lack of idea is a worse problem youve got to think about.
There are businesses you can start with as little as N20,000, but if you have no idea of what to do with 20k, you’ll probably think starting a small scale business is the most difficult thing to do.
You don’t have to think this way anymore, as we’ll be sharing some fantastic business tips with you all.
So, if you’ve always thought of having a small scale business, money and idea shouldn’t be your problem again. Just check your bank account, if you find N20k you’re not going to use anytime soon, you can start a profitable business that’ll give you a genuine financial freedom. Here we go.
1. Bedsheet/Beddings Production
Pay a visit to Lagos Island, or Oshodi where they sell bulk materials, pick good designs and I tell you they guys who will sew it for you are just within the same Market. You can start will less that 100k and diligently grow your money.
2. Shirt Production
A sweet side hustle. There are tailors in Lagos Island or better learn the skill it will save you all the heartbreaks imaginable. Taiwo Street in Lagos Island is where you should be. Materials ranging from 700 – 1k per yard, sew for 1500/2k, Sell for 5-7k.
3. Sales of men’s underwear
Schedule a trip to Aba Market, The cost of production of boxers, you can get one for as low as N300, all you need is to package it in 3s, and market these babies properly beg your friend on twitter for RTs, we buy 3s pack boxers for 1500-2500 sell yours for 1200 gradually grow.
4. E-Payments and POS Business
You can a get POS machine from your Bank, and activate online banking: If you live in a place where banks aren’t much you can handle e-payments for people and make your small change. I paid someone N200 to withdraw 10k in Ikorodu. ATM queue was crazy.
5. Mobile and electronic & Accessories
Mobile and electronic Accessories such Pouches, Chargers, USB cables, HDMI cables, earphones and more, can be sourced on Alibaba, Ali Express, Deal Extreme, etc. The more you buy the lower the price. And they are light so shipping won’t be a burden. Sell on here or jumia and co.
6. Popcorn Machine
We all know this guy! We buy everytime. Bags of corn – Mile 12, Branded Nylon, Sugar, Salt & Butter. The beauty of this is when properly made, its aroma will attract it’s customers. Manual sealing machine -7/9k. Popcorn Machine is 65k on Jumia. Popcorn can be served anywhere.