If you do not read this blog post, you will not be able to answer a simple question that most wanna-be business persons ask: “what business can I start with 50k in 2022”. This article is a listicle that details the best businesses that you can start in Nigeria without any fuss with just fifty thousand Nigerian nairas. Without further mouthing, let us delve in.
1. Start A Blog That Falls Under A Lucrative And Non-Competitive Niche
If you are looking for a business that you can start without spending above 50k naira, then blogging is a go-to business. We are not just talking about blogging in general, we are talking about niche-specific blogging hustle.
According to SEO experts, focusing your blog on one niche will allow you to make more money than with a general-purpose blog. Using Nigeria as a case study, you can start off with a biography that details the biographies and net worth of Nigerian celebrities. Or you can choose to focus on fashion niches. A fashion blog can cover topics such as; how to tie gele, how to tie durag, and so on.
You can start a lucrative blog in Nigeria with 50k if you are budget-sensitive. The domain name costs from 1,200 NGN to 5,600 NGN with Whogohost. A good WordPress theme can cost 12,000 NGN, while the hosting will be around 28,000 NGN per year. The other costs might be to hire an SEO freelancer to optimize your blog or hire writers to create content for your blog. It is important to note that you can still cut costs by doing a ton of work yourself. For a start, you can write your blog content yourself, and also set it up for SEO yourself. Blogging In Nigeria is a sure-fire way to make money online.
2. Start A Popcorn Business In A Location With Less Competition
If you are still wondering: “what business can I start with 50k?”, a Popcorn business is another hustle that gross profit from. All you need is a look for a lucrative position in your area, where the mere sight of a popcorn-making machine and fancy lightning will attract customers.
In a bid to find a very good location, you can head to a big-name supermarket and contact management. Inform them that you wish to start a popcorn business in the front, or near their store location. This way, the Supermarket customers can deflect to your Popcorn stand, and patronize you.
The cost breakdown of starting a popcorn business in Nigeria is another source of motivation. On jumia, you can get a popcorn machine for ₦ 25,000. The Popcorn making machine in question is called Electric Popcorn Maker Machine. You can order it from Jumia and not Konga. Konga offers very expensive Popcorn machines that fall within the price range of ₦130,000 to ₦150,000.
Still on the cost of starting a popcorn business in Nigeria, a paint of Popcorn maize seeds is ₦5,000. You still have ₦20,000 to sort out branding and staffing, the printing of banners, other ingredients, nylon sealer and doing a little bit of decor in your Popcorn selling joint.
3. Start Small Scale Farming
Another interesting business to start with 50k in Nigeria in 2022 is small-scale farming. This business is hassle-free and requires budget-friendly capital. Small-scale farming that can stay within the startup capital range of 40k to 50k includes; Snail farming, Poultry farming and agriculture.
The reason why snail farming is a good option is that it has a huge market in Nigeria. To start the business you need to buy large snails that will lay eggs about populate your small snail farm. Ensure that the place has moisture and some leafy greens for feeding the snails.
In light of small-scale farming, you can also delve into poultry farming. Poultry farming in Nigeria can be started with a capital of 50k. All you need is one bird cage, which you can contract a carpenter to help you build. The cost of calling a carpenter to help you with a poultry cage will not be more than 25k. It is important to note that a carton of day-old chicks costs from 15k to 20k. Kindly note that the cost of buying your bird feed is exclusive here.
Small-scale agriculture is another business to start with 50k. Here the costs will be mainly covered by buying fertilizer, weed killer chemicals, and seeds for plants to grow. The most lucrative plants worth growing on a small scale to maximize profit include the following: Okro, Maize, Yam, Cassava, and Pumpkin vegetables (Ugu leaves).
4. Start Mini Importation Business
An interesting answer to the what business can I start with 50k question is: start mini importation. Mini importation is so called because it involves buying a small number of sellable goods from outside Nigeria. The preferable places to go looking for cheap goods to sell profitably are Chinese retail stores. With the most popular ones being DHGate and Ali Express.
These cheap products can be sold for three times their price in stores like Jumia, and Jiji.ng, Olist.ng, and Konga. You can also market them yourself with word-of-mouth advertisements.
Some interesting products that you can import into Nigeria and sell at good rates include the following:
- Car trackers
- Phone cases
- Wrist Watches
- Selfie Sticks
Imagine buying a product for as low as 900 nairas and selling it of for 6,000 nairas on Jumia? It is important to note that 35k to 50k is more than enough to start your mini importation hustle in Nigeria.