10 Profitable Businesses You Can Start With 100k In Nigeria

Profitable businesses you can start with 100k in Nigeria this year 2022 can be accessed below.

Running a business requires a lot considering the state of the Nigerian economy today. Numerous things can be a challenge, including starting capital, appropriate location, and customer base.

However, the defining moment in any business is the point when the right idea comes to mind. Many businesses are started with enough money and the best location but because they are not the best ideas for some reason, they fail.

Another thing one has to realize is that one of the major factors why businesses fail is not that they are not great business ideas in themselves; but because the owners did not put as much into the actual business to pursue.

Many business owners just want to own a business and make money. Only a small percentage of those, think of exactly what business would work best at the time they intend to start. This is why Infoexpert24 came up with this list of Profitable businesses you can start with 100k in Nigeria.

With the current hardship in the country, there are so many businesses to start with 100k in Nigeria and be successful, but sometimes you may find it difficult to think of such businesses thereby investing your money in the wrong business.

10 Profitable Businesses You Can Start With 100k In Nigeria

1. Food Stuff Business

Food is one of the basic needs of human beings, and so one cannot survive without it. This makes the foodstuff business one of the best businesses you can start with 100k in Nigeria and be successful.

Foodstuffs sell very well because of their gross importance in human life. With 100,000 Naira, you can start a foodstuff business at any location where people are.

Furthermore, before starting a foodstuff business, you must know the type of raw foodstuffs you want to sell, then you source for suppliers who are farmers.

You can sell them both online and offline depending on the provisions you’ve made for transportation.

Examples of foodstuff to sell are:

• Rice
• Beans
• Corn
• Garri
• Potato
• Cocoyam
• Crayfish
• Yam
• Flours, etc.

2. Cooking And Delivery Business

Cooking and delivery is one of the best businesses to start with 100k in Nigeria. Everybody likes food but not everybody can cook tasty food.

Moreover, nowadays people find it difficult to cook because of their busy schedules. Some families eat processed food which is not good for their health.

If you have the cooking skill and a passion for cooking, you can easily start this business with less than 100,000 Naira.

You do not even need to rent a shop for this business, you can cook in your house and deliver it to customers in their homes and offices. You can also cook and sell at a busy junction.

Basic Things You Need To Purchase when starting your cooking and delivery business are:

• A gas cooker
• Pots
• Pans
• Plates of different types and sizes
• Grinder/blender
• Coolers/stock pots
• Spoons and forks of different sizes
• Toothpick/serviettes.

It’s not necessary you buy everything at a time, buy what your money can afford, and subsequently when you start making profits buy the remaining ones.

3. Car Wash Business

In this era, the car wash business is one of the most lucrative businesses anybody can start with 100,000 Naira.

Nowadays many people do not have the time to wash their cars, some are stressed after the day’s work and some cannot wash their cars well and the only option they have is to take them to the car wash.

Car wash is a business you can start anywhere there are many cars and adequate water supply.

The car washing business thrives in every season—the rainy and dry season—in Nigeria, so you won’t have any drawbacks while operating the business.

Moreover, a good location is essential for starting a car wash business. You need to choose a place that is visible to everybody.

If you cannot rent a place, you can go from house to house to wash cars for people. No doubt car wash is a great business to start with 100k in Nigeria and be successful.

Tools You Need To Start Your Car Wash Business

• Car wash machine
• Water supply
• Storage tank
• Generator set
• Bucket, soap/detergent
• Brushes for tires
• Towels, etc.

4..E-payment/POS Business

POS (point of sale) business is a cash-making business that has gained serious popularity in Nigeria in recent years. Some people hate queueing in banks to withdraw money, they prefer using POS that is even closer to them even though they are charged a transaction fee.

This one requires the least capital on our list of ventures. Point of Sale (P.O.S) services is carried out by external bank agents, who aren’t direct bankers with financial institutions but have the fiat to carry out some mobile transactions like credit or withdrawals.

Here, the customers do not always have to use physical banks or ATMs to access or pay in cash. If you want to start this business, you’d need to find a bank that supports external agents like them, acquire a P.O.S machine and invest your starting capital into the assigned account. After this, you can start your business in a location where you have access to persons who are more likely to need financial transactions.

Below is a list of some of the banks that give POS machines in Nigeria.

Zenith Bank,
First Bank,
Access Bank,
Eco bank,
Skye Bank,
Fidelity
Diamond bank, etc.

Each bank has its mode of operation, you just have to go and get details on what is required to get a POS machine.

5. Selling Of Fairly Used Goods Or Clothes

Another business idea you can start with 100,000 Naira is selling fairly used goods and clothes.

Most Nigerians buy fairly used items like gadgets, clothes, shoes, household items, etc. You can purchase these items and sell them both online and offline.

Again, with 100,000 Naira, you can start selling thrift wear popularly known as Okrika. Plenty of people prefers buying Okrika to brand new clothes.

Moreover, the poor economy of the country has made people buy what they can afford and not what they wish to buy.

Where To Buy Okrika Clothes In Lagos are:

• Balogun Market
• Yaba market
  Tejuosho
• Aswani market
• Oshodi market
• Katangua market
• Badagry market, etc.

6. Laundry Business

This is a business idea that is very lucrative, yet easy to start. Nowadays, people are so busy that washing clothes are not on their agenda, and this has created job opportunities for people.

A good location is important to your laundry business. It is advisable to consider locations in open places with less competition where people can see you easily.

Your location should be residential areas, estates, or high-income neighborhoods, and a place you can easily access clean water, etc.
Basic Materials For Starting A Laundry Business

• Buckets
• Laundry detergents/soaps
• Pressing Iron
• Ironing board
• Starch
• Garment conveyor
• Nylon and tags
• Power generator
• Shelves

7. Palm Oil Business

If you are still not satisfied with the business ideas I’ve mentioned above then you need to consider the palm oil business.

The palm oil business is one of the most profitable businesses anyone can do in this era because of its diverse usefulness.

Almost everybody uses palm oil to cook, you can even decide to be exporting it to other countries which would generate much income.

Moreover, palm oil does not have a steady price, you can buy and store palm oil when it is cheap and sell it when it becomes expensive.
Things To Consider When Starting Your Palm Oil Business

Below are the top important things you should consider when starting your palm oil business.

Choose your palm oil business model
Get your storage space and storage tanks.
Get your rubbers
Arrange with suppliers
Decide on transport arrangement
Market and sell your palm oil.

8. Fruit Drink Production And Sales

This is another profitable business to start with 100k in Nigeria and be successful. A growing number of people prefer freshly squeezed juice without coloring, flavors, and preservatives.

Moreover, people are becoming increasingly aware of the health implication of processed food and drinks, this has made people shun soft drinks for naturally made fruit drinks making this a great business opportunity.

To start this business, there are certain things to do and you will also need a very good location that will enhance sales. Location to sell your fruit drinks options are:

A roadside stand
Shopping mall
Fitness centers
Cafes

You can sell it wholesale to grocery stores or restaurants. Moreover, to start this business, you need to purchase manufacturing equipment. Basic manufacturing equipment includes:

Fruit elevator
Fruit washer
Fruit crusher
Pre-heat machine
Juice extractor, etc.

9. Popcorn Business

Popcorn business is one of those businesses that are yet to be fully tapped. The popcorn business is self-sustaining, it can make someone wealthy over time when there is consistency and dedication.

Popcorn is a snack gotten from the popping of corn from a heated surface. Many people love popcorn, therefore you can’t go wrong exploring this business idea.

The business is not stressful, it does not waste time, you can start with a small amount of money, and grow and manage it alone in the comfort of your home.

To sell your popcorn very well, you need to target supermarkets, schools, canteens, hotels, stores, eateries, markets, etc.

The following ingredients are what you need to make Popcorn.

Corn
Sugar
Salt
Vegetable oil
Butter
Flavor
Powdered milk

Items Needed For Popcorn Business

Big bowl
Showcase
Nylon
Popcorn machine
Scooping spoon
Gas cylinder

10. Agricultural Business

Presently, the agricultural business is very profitable in Nigeria as farm products are consumed daily.

Before you venture into the agricultural business, you need to have basic knowledge of the area you want to explore.

There are a lot of agricultural business ideas aspiring entrepreneurs can go into with 100,000 naira. These Agricultural business ideas are:

poultry farming,
snail farming,
Vegetable farming
Mushroom farming
Plantain farming
Catfish farming,
Rabbit farming.