Starting a business in Nigeria with N70k is tough. But it’s really important because when you start, your business will create jobs for others and help the economy grow.
Besides helping the economy, creating a business will also help you make more money, and more money is something everybody needs.
There are some hidden business opportunities in Nigeria with great profit potential.
In this article, I’ll give you some business ideas in choosing what business to start in Nigeria, even if you have only 70,000 Naira.
Here are 14 potential Businesses You Can Start With 70K in Nigeria:
1. Mini Grocery/ Provision Store
Mini grocery stores are small shops that sell food and household items. They are usually located on the streets and are often set up in a container.
These stores are convenient for people who need to purchase everyday items but do not want to travel far.
For example, the woman who lives down the street and needs tea ingredients in the morning.
Mini grocery stores offer a variety of items, including fruits, vegetables, milk, canned food, snacks, and cleaning supplies.
You can generate up to N5000 in daily profits as it is cost-effective to operate.
To start a mini grocery store, find a good location and secure a piece of land. Then, get a container to set up the store.
After setting up the store, the next thing is to go to the market and get the necessary items you need.
2. Mobile Recharge Card and Data Bundle Sales
Mobile recharge card and data bundle sales refer to the business of selling airtime and data bundles to customers.
In Nigeria, this business can be started with as little as 70,000 Naira. Here are the steps you can take to start this business immediately:
Find a suitable location. This could be a small kiosk or a shop in a busy location where there is high demand for airtime and data.
Get in touch with major telecom companies in Nigeria such as MTN, Glo, and Airtel. Tell them you want to be a dealer.
Your smartphone is good to go, but if you choose to get a computer as well, that would be nice.
Once you have all the necessary equipment, start selling to customers. You can also advertise your business on social media with as little as N7000.
Remember that the success of your business will depend on the quality of service you provide and the competitive pricing of your products.
3. Online Fashion Store
An online fashion store is a business that sells fashion items such as clothing, shoes, and accessories through a website or social media platform.
In Nigeria, this business can be started with as little as 70,000 Naira. Here are the steps you can take to start an online fashion store with 70k in Nigeria:
First, decide on a niche for your fashion store, such as women’s clothing, men’s clothing, children’s clothing, or a combination of all.
Next, purchase products in bulk from wholesale markets or manufacturers.
Then, make use of e-commerce platforms like Shopify or WooCommerce to create your online store. These platforms provide templates that can be customized to suit your brand and products.
Take high-quality photos of your products to showcase them on your online store. The photos should be clear and show the details of the product.
Research prices of similar products to ensure that your prices are not too high or too low. Market your online store through social media platforms like Instagram and Facebook ads.
Once you receive orders, fulfill them by packaging and shipping the products to your customers. You can use local courier services for this.
Remember, the success of your business depends on how dedicated you are.
4. Laundry and Dry Cleaning Services
Laundry and dry cleaning services involve washing, ironing, and folding clothes for people who lack the time to do it themselves.
In Nigeria, you can start this business with as little as 70,000 Naira. Here are the steps you can take:
First, find a good location for your laundry business, such as a small shop or a space in a busy area where many people need laundry services.
If you cannot afford a washing machine yet, you may have to do the washing yourself until you can acquire one.
Next, purchase dryers, pressing irons, hangers, and detergent for washing clothes. You can buy them online or in local stores.
Once you begin to earn money, you can hire someone to assist you with washing and ironing. Look at how much other laundry services charge and make your prices competitive.
Provide good quality service to your customers. Deliver their clothes on time and ensure they are washed and ironed nicely.
You can also offer to pick up and drop off clothes at your customers’ homes to improve your business.
Remember, if you do a good job and are friendly to your customers, they will keep coming back to you.
5. Hair Salon Services
Hair salon services involve taking care of people’s hair and making it look nice. If you want to start a hair salon business for 70,000 Naira, here are some steps you can follow:
Find a good location for your salon. It could be a small shop in a busy area or a salon in a mall.
Purchase the necessary tools for your salon such as hair dryers, styling tools, washing bowls, chairs, and mirrors. You can get these from local stores or online.
Decide on the services you want to offer and determine your pricing. Look at what other salons charge in your area and set your prices competitively.
Promote your salon on social media, through flyers, or business cards.
Provide excellent customer service to your clients. Listen to their needs and give them advice when necessary.
Offer special deals to attract new customers and keep your current clients coming back.
By providing top-notch customer service and keeping your clients happy, your hair salon business can become successful.
Blogging is a way of sharing your knowledge with the world through writing. Starting a blog in Nigeria costs less than 70k.
All you need is a good device, a phone, or a laptop that will help you access the internet. If you have a good phone or a laptop already, then you are good to go.
Here is how to start a blog in Nigeria:
Choose a topic you know and love. It could be anything from fashion to sports to travel.
Purchase hosting online, this goes for N6100. When you do, you will get a free .com.ng domain for a year.
Design your blog as easily as possible. This is really simple but if you feel you cannot do it, then watch this YouTube video.
To build a successful blog, start by writing blog posts on a regular basis that are well-written, informative, and engaging.
You should also practice SEO to help your blog rank on Google as mine does. Finally, make sure to interact with your readers by responding to their comments and feedback.
Remember, building a successful blog takes time and effort. It’s crucial that you’re consistent in writing quality content and promoting your blog to attract readers.
But with hard work and dedication, your blog can grow and become a successful online platform.
7. Food Business
A food business is a lucrative venture that you can start with 70,000 Naira in Nigeria. This type of business involves preparing and selling meals such as jollof rice, swallow, or Indomie.
Although dealing with hungry customers all the time can be stressful, good financial management can help you make a lot of money from it.
One of the secrets to finding success in the food business is maintaining a clean cooking environment, as they say, cleanliness is next to godliness.
Here is how you can start a food business with 70k in Nigeria:
Decide on the type of food business you want to start, such as a small restaurant, food truck, or catering business.
Find a good location for your business, such as a busy street or an area with high foot traffic. Purchase necessary equipment like a gas cooker, cooking utensils, and serving dishes.
Develop a menu of dishes you want to offer and decide on prices. Advertise your food through word of mouth, flyers, or social media.
Then start selling. As your food becomes more popular in your area, more customers will come to you.
8. Liquid Soap Making
I can advise you to start making and selling liquid soap to stores, but that may not be the best approach to this business.
Instead, the best way to start is by teaching others how to make liquid soap.
With over 200 million Nigerians, there are likely many people who would be interested in learning how to make liquid soap for themselves.
The equipment needed for making liquid soap costs less than 70k.
By spending 10k on Facebook ads, you can attract more than 200 people who are interested in learning about making liquid soap.
If you don’t know how to make liquid soap, use this free AI tool to learn.
By selling your lessons to 20 people every week for 1000 Naira, you can earn a clean 20k every week.
Remember, teaching others how to make liquid soap is a great way to make money while also helping others learn a valuable skill.
9. Cleaning Business
Starting a cleaning business in Nigeria involves identifying the customers you want to serve and the cleaning services you want to offer.
You can choose to specialize in either residential or commercial cleaning or both. Once you identify your target market, create a marketing strategy to reach them.
It is helpful to advertise your services through flyers, social media, word of mouth, and even cold calling.
Building a good relationship with your customers is key in the cleaning business, so provide excellent customer service.
To start a cleaning business with 70k in Nigeria, you will need the following basic equipment and materials:
Cleaning supplies such as detergents, disinfectants, and cleaning solutions – These can cost as little as 10k depending on the quantity and quality.
Cleaning tools like brooms, mops, buckets, and sponges – These can cost around 20k, depending on the quality and quantity.
Personal protective equipment (PPE) such as gloves, masks, and aprons – These can cost around 10k.
Transportation to move around to your clients’ locations – This can be your personal vehicle or a rented one if necessary.
Business cards, flyers, and other marketing materials – These can cost around 5k.
With these basic requirements, you can start a cleaning business in Nigeria for less than 70k.
As your business grows, you can invest in more equipment and materials to expand your services and increase your clientele.
9. Okrika or Thrift Shopping
Thrift shopping, also known as the Okrika business, involves buying second-hand clothes and accessories at a lower cost and reselling them at a profit.
It is a good business idea that can be started with just 70,000 Naira in Nigeria.
To start the business, first, find a good location with high foot traffic where you can display your items. This could be a busy street or a stall in a market.
Next, source good quality second-hand clothing from reliable sources like second-hand markets or online platforms.
It’s important to inspect the items carefully before buying to ensure that they are in good condition.
After that, price your items competitively and advertise your business through social media platforms or word of mouth.
Finally, provide good customer service to your customers and aim to build a loyal customer base by offering discounts or promotions.
10. Car Wash Services
The car wash business is a lucrative business that can be started with as low as 70,000 Naira in Nigeria.
With the increasing number of cars on the road, car owners are constantly seeking affordable and convenient ways to keep their vehicles clean.
A car wash business provides such a service.
The basic requirements to start a car wash business include a space with a reliable water supply, cleaning equipment such as buckets, soap, sponges, and brushes, and an affordable means of transportation.
Start by offering basic car washing services and gradually expand to more specialized services like detailing, waxing, and polishing.
As the business grows, hire additional staff and invest in more advanced equipment like a pressure washer and vacuum cleaner.
With the right marketing strategy and quality service, a car wash business has the potential to generate a steady stream of income and become a successful enterprise.
To start a car wash business in Nigeria, here are some things you will need to buy:
- You will need a steady supply of water for your car wash business.
- Different types of cleaning agents such as car wash soap, wax, polish, and degreaser to effectively clean cars.
- A pressure washer is an essential tool for cleaning cars. It uses high-pressure water to clean dirt and grime from cars quickly and efficiently. You can get a pressure washer for as low as N30k in Nigeria.
- Different types of brushes and sponges clean different parts of the car, including the wheels, tires, and body.
- A vacuum cleaner to clean the interior of cars, including the seats, carpets, and dashboard.
- Hoses and buckets to rinse and wash the cars.
- It is important to have a shaded area where the cars can dry after being washed
By investing in these essential items, you can start your car wash business and provide quality services to your customers.
11. Cat Fish Farming
Catfish farming is a profitable business in Nigeria that can be started with 70k.
With this amount, you can start a small-scale fish farm and gradually expand as you gain more experience and resources.
Some of the advantages of catfish farming include high demand for catfish, low startup costs, and high profitability.
To start a catfish farm, you will need to purchase fingerlings, which are young fish that are about 4-6 weeks old.
The cost of fingerlings depends on the size and quantity you want to purchase, but you can get them for as low as 20 Naira per fingerling.
You will also need to buy fish feed, which is a major expense in catfish farming. The fish feed can be purchased in bags from local stores or online.
Other equipment you will need includes a pond, a water source, and a water pump to circulate water in the pond.
One advantage of catfish farming is that you can start small and gradually expand your business.
With proper management and care, catfish can reach maturity in about six months, after which they can be sold at a good profit.
12. Personal Shopping and Errand Services
Starting a personal shopping and errand services business in Nigeria is profitable because of the increasing demand for personalized services.
Many people are busy with work and other activities, making it difficult for them to run errands or shop for items they need.
To begin this business, you should identify your target market and the services you want to provide.
Some services you can offer include personal shopping for groceries, clothing, and household items, as well as running errands such as paying bills or mailing packages.
With 70k you can network with businesses and individuals to get referrals and expand your client base.
By delivering excellent services and building a good reputation, you will attract loyal customers and grow your business.
To start a personal shopping and errand services business with 70k in Nigeria, follow these steps:
Determine the types of services you will offer and identify your target market.
Get a phone to help you with your operations. Invest in transportation, such as a bike or motorcycle, to make deliveries and run errands.
Create a business name and logo, and set up social media accounts to promote your business.
Determine how much you will charge for your services. Consider factors such as time, distance, and the complexity of the task.
Offer discounts to your first clients to attract more customers. And ensure that you provide quality services to your clients to build a good reputation.
With dedication and hard work, you can start and grow a successful personal shopping and errand services business with just 70k in Nigeria.
13. Egg Distribution
Egg distribution is a business that can be started with 70k in Nigeria, as the demand for eggs is high since they are a staple food in many Nigerian households.
This makes it a profitable business opportunity for those looking to start a business with a small capital.
To start this business, you need to identify reliable sources of eggs and transportation. A Keke will do just fine.
You can purchase eggs in bulk from local farmers or markets at a wholesale price and distribute them to retailers or directly to consumers.
With 70k, you can purchase egg cartons, buy your eggs and deliver them. You can start by meeting the shop owners in your area. Social media also helps to market your business.
By providing quality eggs and reliable delivery services, you will establish a good reputation and attract loyal customers.
14. Barbecue Fish/ Shawarma Business
The barbecued fish and shawarma business can be started with 70k in Nigeria as it is a popular and profitable food business in the country.
Nigerians love grilled fish and shawarma, which is why it is a lucrative business venture. With 70k, you can purchase a small grill, ingredients, and other necessary items to get started.
To start this business, identify your target market and the location where you will operate. You can set up your grill at a busy street corner, near a school or a market, or at an event.
It is helpful that you offer a variety of grilled fish, chicken, and shawarma with different sauces and toppings to attract customers.
With good marketing strategies, such as social media advertising and word-of-mouth, you will build a loyal customer base. You can also offer delivery services to expand your customer reach.
- You will need a grill or shawarma machine to cook your fish and chicken. These can be purchased new or used depending on your budget. Get a grill on Konga here
- You will need to buy the ingredients for your barbecue fish and shawarma such as fish, chicken, spices, vegetables, bread, and sauces. It is important to source fresh and quality ingredients to ensure the best taste for your customers.
- Get packaging materials such as disposable plates, cups, cutlery, and napkins. This will make it easy for your customers to carry their food with them.
- Advertise your business to attract customers. This could be through social media, word of mouth, or flyers.
You may also need to invest in a small signboard to make your business more visible.
By investing in these items and providing quality food and service, you will build a successful barbecue fish/shawarma business with 70k in Nigeria.
And that’s it. If you would prefer to try your luck online instead, then read this article to know what online business you can do with 70k in Nigeria.