10 Business Ideas a Nigerian can start with minimum capital and skill
Head Consultant
Sprout Business Support
So you want to make some extra bucks, or the pandemic has knocked
you off your job, Whichever it is, here are 10 business ideas you can begin
immediately with minimum capital and no special skills
Some weeks ago, I
uploaded a post Welcome to the new economy, read it to understand we are in an information age driven by digital advancement in all
sectors of the economy. Therefore, these ideas may not deliver optimally if you
do not carry out digital marketing, and open a small website as a landing and
contact page for your online customers.
1. Network
Marketing
2. Blogging
3. Video
Classes on Udemy (Skill based)
4. Making
homemade consumables (Soap)
5. Private
Tutorials
6.
Trading Cryptocurrency
7.
Snail Farming
8. YouTuber
9. Dropshipping
10. Plantain
Chips Production and sale
Now, let's delve briefly into each of them.
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Networking Marketing
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| Picture Credit: 13-dea-Fotolia |
Three of the world's richest have touted Network marketing as the business of the 21st century, the list includes Bill Gates, Warren Buffet, Robert Kiyosaki, and Donald Trump. Network marketing is
simply the business of creating wealth for you with a team. This business model
allows you to create a business network with as little as NGN5, 000 and rather
than a ranty boss, you have an up line (the person who registered you) who also
trains you. Your income is generated from products you sell and from the referrals
you make to create your own team. It remains the best and
most sustainable business model that has been created to date.
Blogging
Blogging
is simply an art sharing your knowledge with the world through the World WideWeb. An average blogger earns between NGN 10,000- 100,000 monthly which depends
on the traffic the blog generates and income from advertisements on the page
through Google AdSense. There are many blogging sites where you can create your
own blog. Such as blogger.com, wix.com, or wordpress.com. The small investment is in purchasing
your own domain name; You know, something like myblog.com,
myeverydaylife.com from a domain registrar, and transferring it to any
blog host of your choice at a small additional price. In becoming a blogger,
always remember that content is king.
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Private Tutorials
Schools are closed, have you considered teaching children in your locality home lessons? The range of subjects you can offer to teach may lie in the traditional school curriculum or extracurricular; you know (chess, dance, a foreign language, computer programming) just based on your skillset. Your income is based on your skill and your customers (richer parents will be willing to pay more than low-income earners). As you teach, make sure to keep yourself safe.
Video class on Udemy
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| Photo credit: Udemy.com |
Udemy runs the
world’s largest online learning marketplace, where 10 million+ students are
taking courses in everything from programming to yoga to photography. So, if
you have a marketable skill such as sewing, shoemaking, or music, this
is the place for you. You could post a series of classes and earn a much as $500
for 100 enrollments for a single course. There is no fee to create and host a course on
Udemy, and you can publish as many free and paid courses as you like. You can
learn more from Udemy.com
YouTubing
YouTube pays through ads In the spirit of
providing online training, you can also upload videos on YouTube as a
source of income. While earning from YouTube is not limited to providing online
educational content like Udemy, it pays just like and sometimes more than
Udemy. Uploads include news(gossips and confirmed), sports, video
games, animal behavior and get paid through those annoying ad videos playing
before, in between, and after the videos. Your
income for each video is on a lifetime basis. While there are other forms of
recognition on YouTube like the number of subscribers, number of likes, and so
on, content is king. Provide good content and all other things shall be added
unto you.
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Making
homemade consumables.
You can also consider making homemade consumables
such as homemade liquid soaps, face masks, nail polish… and the list goes on, and post it for sale on
your social media feeds. A Google search on ‘how to make ….’ will provide you
with a ton of learning materials you need.
The good thing is these products require everyday items that can be
bought at your local market and in high demand because of the need to stay at
home to stay safe.
Trading Cryptocurrency
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Investing in Cryptocurrency can generate
huge income but it’s also highly risky. You can build a high-income stream by buying and selling
these digital currencies. One of the richest bitcoin traders is a 21-year old
bitcoin millionaire Erik Finman who owns about 400 Bitcoins valued at $5
million as of July 2020, he first invested in Bitcoins in 2011 after his
grandmother gave him a gift of $1000. It took about 9 years to amass that kind
of money but it took fewer years compared to an average millionaire. Some others
have become billionaires from trading the cryptocurrency but we must warn that
the market is highly risky and its best to speak with a professional if you
intend to trade cryptos.
Snail Farming
If
you live in a riverine area like me, (Dear Lekki people, I didn’t mean flooded
area LOL) You have a real opportunity to capture freelance snails in your
environment. These snails move out to drylands in response to the rains which
must have filled their homes. Go ahead, pick them and place them in a covered,
moist, and ventilated container or place, they feed on the sand, leaves. We gathered
from snail-world.com (Link here) that the shell of the giant African snail
reaches up to 7.8 inches in length and 2.7-3.9 inches in
height. An adult weighs about 32 grams. We also gathered from Invoice.ng (Link
here) In Nigeria, the prices of raw, matured snails go
for N250 to N600 depending on the size. While the annual demand for snail
in Nigeria is about 7.5million kg annually. The strength of your
revenue lies in the speed of their growth and reproduction is which linked to the
quality of their nutrition and environment.
Dropshipping
You can simply make money from drop shipping by charging the customer above what the manufacturer charges for a product; getting stock from wholesaler to the customer by using the customer’s like the delivery address and not even see the product physically.
Related post: Dropshipping in the face of COVID-19
Plantain Chips Production
and sale
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| Photo credit: amiloaded |
You love to
cook? Great! If you are one of those Master Chefs, your army of skills
is needed now. Lay your hands on some unripe plantain, fry them to have
plantain chips, package them neatly and hygienically, distribute them to street
vendors. You just started a plantain chips business. Okay, I just made this look too simple. I will recommend you read a step by step process here How To Start Plantain Chips Production
With these ten ideas, you should be able to bring in extra bucks in your bank account.
Also, Here are 10 business ideas from @onomxzy that you can begin with 100k or less.
Investing in a great business plan is crucial to success as you start up on your business. Plans give ideas wings.You want to know the Business you can do, here are 9 Business Ideas you can start with 100k or Less.#BusinessWithOnome
— AUNTYONOME (@onomxzy) September 23, 2020
Send us a mail and let's discuss your idea and get you a formidable business plan. info@sproutbusinesssupport.com
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