Considering the cheapest businesses to start in nigeria can not be stated directly with a single word or sentence because their are several factors to take note of. Nevertheless, I will highlight some cheap businesses you can start in Nigeria and average amount of money required for it’s start up.
Top 5 Cheapest businesses to start in Nigeria: list of business with average start-up capital needed and how to start them.
1. Event Staffing
This business is all about working as event staff for parties, weddings, or corporate events, it can generate daily income from tasks like catering, ushering, or setup/cleanup. Starting this business in Nigeria is very cheap as it does not cost much to begin.
This job can be considered as one of the cheapest businesses to start in nigeria as it can be started with less than 50,000 naira in your account.
How to start event starting business with less than 50k
- First is to gather few workers and agree to pay them per event, then save their contacts.
- Then guess a name and pay a graphics designer highest 20k to print few good flyers for you which you will paste in strategic places, if you have more money you can meet people who own Facebook groups with large members and rent them to promote your business since there are no money to pay influencers for now.
- When people see the flyer they will call you phone then you bargain and begin work.
2. Pet Sitting or Dog Walking
Offering pet sitting or dog walking services for pet owners can provide daily income from caring for pets and providing exercise, though this is not popular in Nigeria. If you live in environment dominated by rich people like lekki or Victoria island in Nigeria getting this work will be faster, because rich people mostly own dogs.
How to start pet sitting business in Nigeria
- Starting a pet sitting business will cost you nothing but only advertising.
- To start you need to make awareness and this can be done by printing flyers or posters which you will paste in strategic places or promote it on social media platforms.
- Then you move over to YouTube to learn about pet sitting in videos or get more knowledge from pet blogs, you don’t need to aquire a degree to start.
3. Cleaning Services
This services is also considered among the cheapest businesses to start in Nigeria as offering cleaning services to homes, offices, or businesses can be a lucrative business which have a minimal startup costs. You only need to invest in basic cleaning supplies and transportation, but you can start with a small client base and gradually expand your business.
How to start a cleaning service business in Nigeria
- Firstly, you need to buy few cleaning materials and instruments which the most important ones won’t cost over 20k in total.
- Then next is to make people know you are offering such service, that is where advertising comes. You can do that buy printing posters, flyers or advertising with word of mouth.
4. Hairdressing or Barbing
If you have the skills, you can offer hairdressing or barbing services to customers. You can start by working from home or renting a small space, this is to reduce start up cost.
How to start low budget barbing or Hairdressing in Nigeria
- Whether you’re aiming for barbing or hairdressing, it’s very important to develop your skills and techniques. First you can consider taking courses, attending workshops, or apprenticing under an experienced professional. This will ensure you can provide quality services that attract and retain customers.
- As you have low start up capital you can start with the basic tools and equipment required for barbing or hairdressing. For barbing, you’ll need clippers, trimmers, combs, scissors, shaving razors, and disinfecting supplies. For hairdressing, you’ll need combs, brushes, scissors, styling tools, and hair products. Look for affordable options or consider buying secondhand equipment.
- Choose a location with high foot traffic, such as near markets, bus stops, or residential areas. Consider renting a small shop or setting up a mobile barbering or hairdressing station. Ensure the location is accessible, clean, and well-lit.
- Research the pricing of similar services in your area and set competitive rates. Consider offering introductory discounts or packages to attract new customers.
- Spread the word about your business through word-of-mouth, social media, and local advertising. Create a simple business card or flyer with your contact information and services offered. Engage with the community and build relationships with potential customers.
5. Recharge Card Sales
Selling recharge cards for mobile phones and data bundles can generate daily income from commissions and sales, so we add this business in our list of cheapest businesses to start in Nigeria. You don’t really need much to start this in Nigeria, you can start with as little as 10,000 naira.
How to start Recharge card sales business with 10,000 naira in Nigeria
- Recharge card purchase: The cost of recharge cards will vary depending on the denomination and the network provider. You can expect to spend around ₦5,000 to ₦8,000 on your initial stock of recharge cards.
- POS machine or recharge card software: If you plan to sell electronic recharge cards, you will need a POS machine or recharge card software. These can range from ₦2,000 to ₦5,000 depending on the features and capabilities.
- Mobile phone: A good mobile phone with reliable internet connectivity is essential for managing your inventory, receiving payments, and accessing recharge card distribution platforms.
- Transportation: If you plan to move around to sell recharge cards, you will need to factor in transportation costs. This may include fuel, bus fares, or maintenance for a motorcycle or tricycle. Better still to avoid this expenses find a good strategic position in your street or school maybe under a tree or relaxation center
- Marketing and promotional materials: To attract customers, you may need to invest in marketing materials such as flyers, business cards, or a simple website if your budget is up to that but if not advertise to people in your WhatsApp contact or word of mouth to your neighbors, friends and family members.
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I know you must have concluded on the business to start up from this our list of cheapest businesses to start in Nigeria, drop the one you choose in the comments section.
Frequently asked questions about cheap business startups in Nigeria
What factors should I consider when choosing a cheap business to start in Nigeria?
When choosing a cheap business to start in Nigeria, you should consider your skills, interests, startup capital, and the market demand for your services or products. You should also research the competition in your area and make sure that you can provide a unique and valuable offering.
How can I start a cheap business in Nigeria with little money?
There are a number of ways to start a cheap business in Nigeria with little money. Some options include:
- Start small and gradually expand your business as your profits grow.
- Invest in used or refurbished equipment.
- Work from home or rent a small workspace.
- Utilize free online resources and tools.
- Network with other entrepreneurs to learn from their experiences and get advice.