10 Business Ideas a Nigerian can start with minimum capital and skill


Asubiaro Samuel Busayo
Head Consultant
Sprout Business Support

Start a Business Now!
Photo Credit: Fit Express  

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
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 GatesWarren BuffetRobert 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 teamIt remains the best and most sustainable business model that has been created to date.

        Related Post - Why network Marketing? 


  Blogging


Photo credit: Hubspot Blog
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.comwix.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.


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 Video class on Udemy

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 




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. 
Plantain Chips Production and sale
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. 
Send us a mail and let's discuss your idea and get you a formidable business plan. info@sproutbusinesssupport.com

Comments

  1. The article was up to the point and described the information about education and learning. Thanks to blog author for wonderful and informative post. boaz derra

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