A lot of us have dreams of starting up our own businesses and lofty ambitions of watching them grow and becoming multi millionaires in the process. Unfortunately majority of us leave these ambitions as just dreams due to a number of reasons, predominantly a lack of Capital to start up these businesses. However, after much research, I’ve discovered that there are quite a number of businesses one can start up with a budget of 50,000 naira or less. And yes, you read right, 50 thousand naira. Amongst these businesses include; Poultry farming, fish farming, PopCorn Production Business, Hair making, Shoe making, Bead making, Dry Cleaning, Tutoring, Production of Candle Business, Face Cap designing and printing, Recharge Card Distribution Business, Website designing, to mention but a few.
So, if you’re an aspiring entrepreneur looking to start up a business with a budget of 50 thousand naira, here are 5 you could start up today
- Poultry Farming.
The good thing about Poultry Farming is that you can start it up anywhere the space is available, even at the back of your with as little as 40,000 naira. All you need is Chickens, which you can get for between 700-1000 naira for one; a medium sized cage, which should cost between 10,000-15,000 depending on the Carpenter; and about 12,000 worth of feed. That easy, and in about 6 months, your birds can be sold. Now the beauty of this is that it provides more than one stream of income, outside meat, you can also sell the eggs and manure gotten from Chicken droppings.
Note that to have the best possible success in this business, healthy livestock is to be purchased, keeping the livestock environment clean is necessary regular feeding is also important.
- Fish Farming
Similar to Poultry farming, fish farming is another lucrative business one can start with a budget of less that 50,000 naira. For this business, you’d need to purchase a drum, fish fingerlings and feed.
The drum should be placed in a position close to water supply and also close to where you can easily dispose water also.
The secret to success in this business not only centers around buying healthy fingerlings, regular feeding and maintaining a healthy environment for the fingerlings, but also getting customers to patronize the business before hand.
- Dry Cleaning
Dry Cleaning is a rather underrated business considering the part that majority of the amount of people that patronize them. Similar to the aforementioned Businesses, you can also start this at home, that is if you have access to water and good electricity.
You either wash the clothes manually or you can purchase a mini washing machine of between 30,000 to 35,000. A good iron should cost you about 5,000 and detergent isn’t that expensive either. Also, a low pressing table is needed and that basically can be purchased, or constructed easily.
Now the good thing about this business is that you’d always have customers and if managed properly, in a year or two, you could see yourself buying a Car.
Now, you quite literally need no money to start tutoring. The unique thing about tutoring is that it appeals to whatever skill you possess.Take for example, if you’re a guru at Math or history, you can offer your services to the numerous Tutoring agencies in your locality, specially targeting post Secondary School and Pre University students. Or you’re an excellent Violin player, you can organise a private or public for people willing to learn this instrument, or you could apply to Schools who are dying to employ people who are good at playing musical instruments.
- Candle Production Business
As surprising as this may sound, Candle Production is a very lucrative business, and it’s not so expensive to start up. All you’d need is Candle Wax worth 1,000 naira, Candle Mould of about 30,000 naira, Thread of about 1,000 naira, Packaging Nylon of about 2,000 naira, 1,000 naira, a Bowl, Sealing Machine of about 2,000 and other logistics.
According to research, to produce 16 units of Candle would take roughly 10 minutes and it’d involve melting and reshaping the candle wax, then sealing and packaging.
Please note that the figures given above are estimates based on research and proper research and investigation should be carried out by anyone willing to Start up any of these businesses.
Still haven’t found what you are looking for? Or you are looking for that business you can start with 100$ which is way less than 50,000? Click here