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How to Start a Junk Hauling Business in Nigeria – Make Money from Trash/Waste

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Junk hauling business in Nigeria and anywhere in the world goes with the saying that “One Man’s Trash is Another Man’s Treasure”. Junk or waste management business is one of the best investments you’ll ever thank yourself for investing on.

Although this business is belittled by most people in the world because it’s not a fancy job. Most people prefer sitting in office, working for a boss and gets underpaid. But let me tell you that with this waste management business in Nigeria, you can make millions of naira while your mates are busy looking for white-collar jobs.

You may be thinking…

Is Junk Hauling Business in Nigeria Really profitable?

Yes! It’s profitable. And of the reasons why it’s profitable is because very few people are aware of this business (no high competition).

Apart from competition;

The junk hauling industry is valued at $55 billion, with an expected growth rate of 2.7% in the United States of America. Despite being lucrative, only 12,383 junk hauling businesses are operating in the industry.

… apart from the government waste management scheme, only few private investors or entrepreneurs are into junk hauling business in Nigeria and that’s a great head-up for you to start before people are aware of secret behind this business.

But you may want to know…

How Much Can I Make with Junk Hauling Business in Nigeria?

There is ample opportunity to step up and grab a chunk of the profitable junk hauling industry.

If done correctly, the junk hauling business can help you make $1000 to $3000 (or N360,000 to N1m) in a month easily.

But here is a misconception;

Most people assume that having a pickup truck and a phone connection is enough to start earning thousands of dollars. While they will help you get your business going, you need more than a pickup truck to establish yourself as a credible business.

In this article, we will discuss 5 pro-tips to help you start a profitable junk hauling business in Nigeria.

To be successful, you must know your market, must develop a business plan to give you direction & to secure funding, must legalize your business, must invest in effective marketing, and must remember to be patient & persistent.

Now, let talk about these pro-tips;

5 Pro-tips to Start Junk Hauling Business in Nigeria

Tip 1 – Conduct Market Research

Market research is the first logical step before starting any business. To make informed decisions about your junk hauling business in Nigeria, ask yourselves the following questions:

  • What is your Target Market?

Which geographical area are you going to serve? What type of junk will you collect? What kind of junk collection is most profitable and suitable for a new business?

For instance, you may focus on consumer/home junk, office junk, or industrial junk. Most established businesses offer all of these services, but since you are a beginner and have limited resources, figure out which type of junk will be most profitable in the area you plan to serve.

  • Determine the Cost of Operations

Develop an estimation of the amount of money it will cost you to start the business. Think in terms of office space, vehicle, gear, equipment, utility bills, and workers.

  • Determine Estimated Revenue

How much can you make from the junk hauling business in Nigeria? Develop an accurate, projected revenue. You can do so by asking industry specialists, interviewing people already working in the industry, or by taking a job in a junk hauling business in your city.

  • Analyze the Competition

It is vital to know your competition. Determine the number of international, national, or local junk hauling companies operating in your area of interest. What services are they offering? What is their pricing strategy? Do they have a competitive advantage? What target market are they serving? Do they have a loyal clientele?

Knowing the answer to these questions will help you establish a unique brand identity. It will also give you insight into market needs, gaps, and the opportunity to attract consumers to your business.

  • Analyze Barriers to Entry

Are there any hurdles in starting the business? For instance, it may be difficult to obtain local, state, or federal permits for a junk hauling business in Nigeria.

  • Franchise Vs. New Business

Analyze the market to determine whether it is more profitable to purchase a franchise license or to start a business of your own from scratch. Create a pros and cons list to analyze your options and make an informed choice.

  • Pricing Strategy: How Much Will You Charge?

If you decide to start your own business, it is imperative to determine a consistent and competitive pricing strategy. In most cases, new businessmen change prices randomly from one job to the next.

A consistent pricing strategy makes you look professional and increases business profitability.

Tip 2: Prepare a Business Plan

A business plan is a formal document that contains details about your business and business strategy. A business plan includes the name and purpose of the business, business strategy, financial strategy, marketing strategy, and exit strategy (expansion plans). It will not only guide your actions but will also help you attract investors and funding.

If you go to a bank for loan, hedge fund, or any organization that gives money to startups, they will ask to see your business plan to determine whether it is worth it.

Recommended: How to Write Business Proposal like a PRO

Tip 3: Legalize Your Business

It’s essential to register your business as a separate legal entity. Firstly, it is important because you will need to obtain licenses and permits for your business, and that cannot happen unless you have a registered company.

The second reason to form a business entity is to make sure that it is separate from your personal finances. God forbid if your company goes belly up, it won’t make you personally liable to pay off business debts and loan. You can file bankruptcy top avoid paying out of pocket.

Another reason to register your business separately is tax policy; the tax for companies is separate from personal tax. If you don’t register your business, it can be contused as tax evasion, which is a punishable offense. Moreover, small and micro businesses are often given tax concessions, which can actually be more feasible financially.

You don’t necessarily need to setup your own junk hauling business. In fact, you can partner up with other junk hauling and dumpster business and get yourself up and running right of the bat. Fortunately, you can rent a dumpster from a company and upsell it to your customer. There are a lot of other creative methods you can use.

Here is what you need to do to legalize your business:

  • Register Your Business as a Separate Legal Entity

There are several business structures for small businesses, including Sole Proprietorship, Partnerships, Limited Liability Company (LLC), and Corporation, etc.

Here is a guide to register your business with CAC in Nigeria…

  • Register for Taxes

Once your business is officially registered, you need to file an Employer Identification Number (EIN) or Federal Tax Identification Number (FTIN) from the IRS.

The EIN number is like a social security number for your business. It is essential because, without an EIN, you cannot open a business bank account, hire employees, and keep your business separate from your personal finances.

You can register for an EIN online, via telephone or email for free.

  • Obtain Permits and Licenses

You must file for local, state, or federal permits and licenses required to operate a junk hauling business in Nigeria. Every state and locality have their own requirements, therefore check with the local SBA to get information about the permits and licenses you will require to operate your business.

If you run your business without a license or a permit, you will be liable to hefty fines and even jail time.

  • Create a Business Account

Open a business bank account to manage the flow of expenses and income. A business bank account is a reliable method to track your company’s finances. It is essential for audit purposes, as well.

  • Purchase Business Insurance

Purchase business insurance as a safeguard. If you hire employees, you will be legally required to purchase worker’s compensation insurance. Check here for the top 10 insurance companies in Nigeria.

  • Implement Business Accounting Practices

Manage your company’s business accounts to keep an accurate record of all expenses and incomes. Small Business Association, the US Chamber, and the local clerk’s office will have guides that you can follow to maintain your accounting books. You may hire a professional consultant to manage your books as well.

Keeping a detailed account of the financial activity of your business will be useful when filing for tax.

Tip 4: Invest in Marketing

No business can begin and survive without effective marketing today. To start a successful business, you need to invest in marketing. It is understandable that a startup will not have a huge marketing budget. You must determine your marketing budget (however small) and the marketing channels that will be most effective for your target market within your resource constraints.

Luckily, it does not take a lot of money to run an ad in the local newspaper or radio. You can even purchase a spot in the local yellow book for an affordable price. You can buy billboard space, print flyers, or advertise your business on city buses to get the word out.

Marketing practices will keep your business relevant and thriving. Here is what you should do:

  • Build Brand Identity

What benefits does your brand offer its consumers? Think about characteristics like cost leadership or differentiation. Highlight the values of your company; for example, sustainable and ethical, etc.

A brand is like a person that consumers want to have a relationship with. If you have a clear brand identity, you are more likely to attract consumers and keep a long-lasting relationship with them.

  • Build Brand Recognition

Make your brand known; When consumers know that your business exists, they are more likely to reach out. Increase brand awareness and recognition by positing advertisements and establishing a local presence.

  • Create an Online Presence

Most people search for businesses online. How many times have you searched google for the nearest restaurant or the best shoe shop in town?

Maintain a professional website and social media handles (Facebook, Instagram, Twitter, & YouTube, etc.).

Note: We can help you build a website and manage all your digital marketing. Check our agency website or contact me to get quote.

  • Increase Your Online Ranking

When people search google for a junk haul business, the name of your company must come on the first page.

Let’s be real, no one clicks on the second page ever. We always check out the first 5 or 6 websites on the google search page.

Therefore, you must maintain an online presence so that the name of your business always comes on the first page.

  • Focus on Customer Relationship Management

Repeat customers are your best bet for succeeding in any business. Therefore, you should offer excellent customer service to keep your clients happy. A happy client is more likely to avail your services again. Moreover, satisfied clients give great reviews to their friends and family and encourage them to use your service as well.

Tip 5: Be Persistent and Patient

Rome was not built in a day; your business won’t be either! Keep in mind that you will probably not start making profits in the first few months. Don’t get frustrated, keep working hard, and your persistence will pay you premium once your business takes off!

… That’s it – How to Start Junk Hauling Business in Nigeria

I know you might be thinking that this business is too dirty but let me tell you that if you want to make it in Nigeria (and anywhere in the world), you need to change how you view opportunities in Nigeria.

Junk hauling business in Nigeria is a golden opportunity for you, no matter who are; either you’re a student, graduate, even if you’re a housewife.

And one thing is that you have high edge to make money with this business because the government who claimed to be responsible for waste management in Nigeria, are not functioning to the core.

Most of these government trucks only deal with the state capitals and other popular places in Nigeria. But you can help them pack trash from these unattended places and gradually become a big money maker in junk hauling business in Nigeria.

Feel free to comment down below and I’ll be happy to answer your questions (from my deep researches). Also, if you think this blog post is helpful, kindly share with your friends by clicking on the floating social media icons.

Don’t forget to visit again, you can subscribe to my mailing list in order to get notified whenever I publish a new post.

My name is Stephen Gbolagade, people say I'm a multi-skilled guy. I guess maybe because I'm a Blogger, Website Designer, SEO specialist, Content Writer, Business coach, Digital Marketer, and Self-taught Frontend Developer. But what do I have to say about myself? My contents, personality, and services will say and prove the person I am to you. __________________________________________________________________________You can hire me for Music Promotion, Website Design or Blog Setup, Marketing and any Digital-based tasks! __________________________________________________________________________ Contact me here on Facebook :: Instagram :: WhatsApp __________________________________________________________________________ If you're inspired by me and think it's necessary to buy me a cup of coffee, you can give me a tip HERE 👌

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Business

8 Effective Ways to Reduce Your Household Expenses

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Are you finding it quite difficult to reduce your household expenses? Okay, don’t feel depressed, this page is what you need to get motivated and take that action!

Among all lessons we have learned during this COVID-19 “pandemic period”, one good lesson we should always stick to,  is how to manage our funds and resources. Millions of people across the world became unemployed as a result of this world-renowned virus, but how do they survive? By simply cutting their expenses and wise management of their savings.

It is very important we learn how to manage our money wisely, or hence, we might end up becoming financially broke or a debtor. I know you don’t want that!

Today I’ll be showing you how to reduce your budget and lower your household expenses. These tips work for everybody, regardless of who you are, either you’re a 9-5 employee or an entrepreneur.

So, let’s check them together!

8 Ways To Reduce and Manage Your Household Expenses

Tip #1. Cut Off Your Cell Phone Plan

Having and using a cell phone is quite expensive when studied critically. No doubt they’re beneficial… but we also get charged for services, tax, etc., that we can’t even explain. This is why it’s important to choose a good cell phone plan.

According to NCC (Nigeria Communication Commission), Nigerians collectively spent about N450 Billion per month on recharge cards and data connections. That is approximately $1.17 million spent every month on cell phone plans.

You know what?

The amount of money spent on recharge cards and data connections covered about 73% of Nigerians’ expenses while the remaining 27% covered foodstuff, emergency funds, skincare, and other personal stuff.

I’m sure you’re one of those people enriching these telecommunication companies every month, I personally buy data worth N15,000 every month!

We need to learn how to reduce these expenses, and the best way we can do that is to reduce the hours we spent on social media apps (especially, Instagram and Facebook), YouTube, and online streaming sites.

Also, a prepaid plan is the most suitable option. You can get it with the major carriers at almost half the price of the regular plan. The beauty of prepaid plans are the added bonuses and incentives. Things like unlimited calls, unlimited SMSs, reduced call rates, and lots more. 

RELATED: How to Start Recharge Card Printing Business in Nigeria

If you’re looking to save some bucks, cut the regular plan and switch to a prepaid plan.

Tip #2. Do Away With Cable Subscription

One of the best ways you can reduce your household expenses is by ditching your cable plan. I know it feels good to lay on the couch after the day’s work… sipping your favorite drink… watching a good movie. I get it. But you’re on a budget and some things have to go.

Thankfully, we have digital platforms today where you can watch your favorite TV and sports shows. You can watch TV on YouTube, Netflix is a good option—it costs less per month, Showbox for Android users is great, or you could get a fire stick. 

There are lots of these services out there, using any will help in maximizing your finances in the long run.

Tip #3. Get an Insurance

We live in a world where everything is risky either on land, in water, or at home. Accidents can happen anytime, you can start developing a kind of sickness any day, your car might develop faults and different unforeseen circumstances that may suddenly require you to spend money.

Sometimes, you have to borrow money from your friends, co-operative society, or take a loan from your bank, in order to take care of those issues. 

But to help you manage your funds and reduce your expenses, Insurance plans are ready to cover that for you.

If you are a car owner, it is very important to have auto insurance. It comes in handy because you never know when uncertainties or accidents may occur. But the cost of these plans does take a toll on your finances.

If your business requires traveling a lot, you can opt-in for travel insurance, and you can do the same for health insurance.

You can always shop around for a less expensive plan. The big carriers tend to charge you higher than necessary. This may be due to you having certain covers you don’t need at the moment, or you’re probably in a wrong plan.

Take out time to review your current insurance plan, do away with covers you don’t need. Or better still, check out smaller firms with similar benefits but at a lower cost.

Tip #4. Cancel Memberships

Membership plans do get you exclusive features and other juicy benefits. This could be membership plans from your gym, Netflix, Amazon, or Audible. Whatever it is. If it’s not necessary at the moment, cancel it.

You wouldn’t miss much. There are alternatives you could check out: YouTube for Netflix, visit a local library in place of Audible, and work out at home instead of going to the gym. Remember, you’re trying to cut costs.

Tip #5. Consider Reducing Your Rent

It’s time to do away with luxurious living if you stay in a rented apartment. Take for instance you live in a 3 bedroom apartment…you could switch to a 2 bedroom or 1 bedroom to reduce household expenses.

Also, if you can, assuming this wouldn’t affect your work: try switching locations if possible. Certain areas are characterized by huge housing costs but you can change to less expensive areas if possible.

I know a guy who spent up to $2,500 (N800,000) on his new rented apartment, he had enough money in his savings to take care of feeding and other necessary stuff for the few months. But as an entrepreneur, he invested the savings on a business which went against him!

Dude is broke, and the next thing for him is to relocate to a small apartment which will cost N40,000 per year ($100/yr) instead of his previous N90,000 per year ($220/yr).

So, don’t be afraid to reduce your rent, change the location, and start looking for the bigger picture (stabilizing your business and getting your own house).

Tip #6. Cook in Your House, Stop Eating Outside!

Yes, you read right. And you’re asking if it’s possible? Of course, it is possible. We don’t tend to keep records of how much we spend on food and restaurants. I don’t do that.

And so we go ahead without knowing because we think the amount we spend per meal or snack is little. No, it’s not. When summed up, we could see how much we’ve spent and how big the amount is.

I was a regular fan of a restaurant close to my house. I spent up to N1500 on every meal. To me, I thought that’s cool and not too much to satisfy my belly. But at the end of the first 30 days, I realized that N45,000 has left my pocket on just a 1-square meal per day. And that doesn’t include the transport fare to buy the food, the tips, and money spent on food for another 2-square meal.

Averagely, I spent up to N60,000 in that month on food. 

Again, you may think it’s very small when you’re spending it, but when you calculate the total money spent at the end of the month, you’ll see how much you’ve spent.

So, I decided to start buying foodstuffs and cooking at home (I have kitchen utensils already). I spent an average of N15,000 per month on foodstuff, and like N200 per day on other things I need to buy, that is N6,000.

It means I spend N21,000 on food I prepare myself instead of the previous N60,000 on outside food (saving N39,000)!

So please… stop eating out. Start cooking at home and see how much of an impact it makes. Yes, it might be difficult but you need to stop.

Tip #7. Reduce Your Grocery Bill

Staying with our previous tip, I asked you to cook at home. But wait! What if you’ve been spending more than you should on groceries? If you’re guilty of this (maybe you’re not) here’s how you can reduce your grocery bill.

You can start patronizing stores that offer discounts. Others may have deals like “By One, Get One Free”, or you could shop online using coupons. Don’t tell me you don’t love those deals…those discounts. You do, right? So go ahead and change your grocery store or supermarket.

Buy your groceries in bulk instead of buying at a very expensive price per one or two.

Also, notice those things you don’t really use and stop buying them or maybe, reduce the quantity. 

Tip #8. Fancy Grooming… Are They Even Necessary?

Sure they are! I know we all crave those fancy stuff such as good shoes, chains, clothes, coffees with milk, cream, sugar, or whatever. But there comes a time when we need to sit back and ask: Do I really need this? Especially if you’re like me who is grinding to save some money.

Go get yourself a coffee maker and start making yours at home. If you’re not going to any occasion that demands you for new clothes, don’t buy it, if your shoe leather is getting worn-off, fix it by giving it to a professional shoemaker instead of disposing of it.

I know it’s convenient to get out there and fix your nails, make your hair, or do some makeup. Right now you need to consider doing these things yourself.

Are they difficult?

Not at all. Unless you’re too busy. If you’re not, pick up your phone and head over to YouTube to start learning these things and start saving money. 

CONCLUSION – These Tips Will Help You Manage Your Funds and Reduce Your Expenses

There you have it: 8 Ways to Reduce your household expenses. I know we love to do all these things: we love to eat out, live in luxurious homes, have some fancy coffee daily, then come home to watch our cable TV.

But right now, you need to implement these tips above. If you can’t do it all, no problem. But make sure you implement the ones you can.

So over to you, which of these things will you be cutting? Let’s hear from you.

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Top 7 MLM Companies in Nigeria To Make Real Money

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I believe you landed here in quest of best among the Multilevel Marketing or MLM companies in Nigeria to make real money. This blog post will mention and recommend 7 best out of them at the time of writing it.

You must have been introduced to certain money-making platforms

Some did work out, some didn’t work as planned. 

Or the worst case: it didn’t even work out. You were scammed!

With that in mind, I want to show you something different. I will show you platforms that have been in the game and built a good reputation over the years.

What I’m about to show you isn’t scripted. It’s REAL!

Today, I’ll be your tour guide as we explore the 7 MLM companies to make REAL money in Nigeria.

Time is money, and guess what? I’ve taken so much already.

If you’re ready, hop on the car, and let’s ride.

But in case you’re new to the term “MLM”, you might be thinking that;

What is MLM?

MLM, an abbreviation for Multi-level Marketing, is a business where members earn commissions from marketing products of a particular company. 

In essence, the more you sell, the more cash you make; and at the same time, your level increases.

How to Make Money with MLM Companies in Nigeria

As a Multilevel marketer with any of these MLM companies, you are encouraged to bring in the new participants as this increases your profit and level. 

For you to succeed, you should be able to convince someone into buying and using a product, and/or becoming one of your success line (probably called downlines).

And in the Multilevel marketing business, when they say “PROFITS” in a multilevel marketing business, it doesn’t always mean “MONEY”. Sometimes when you reach a certain milestone, you might be eligible to travel outside the country with your partner, get a brand new car, and so on.

Is MLM in Nigeria Business Profitable?

Yes, MLM business is profitable in Nigeria, you can make millions of Naira if done correctly with patience. And it will surprise you that it’s one of the most recognized businesses in the world. It’s ranked alongside real estate business and top others.

With that out of the way, here are they; 

Top 7 MLM companies in Nigeria:

1. Oriflame Cosmetics

The name sounds familiar, right?

Okay, Oriflame is a producer of some popular beauty and cosmetic products — from deodorants to lotions, hair oil, and any other beauty product you can think of. They’ve got it all.

Oriflame also has the leading market share of beauty products in 30 countries but has its headquarters in Sweden.

With over 50 years of experience, they’ve been able to maintain an amazing reputation in 60 countries.

It gets better…

You can also make money by marketing Oriflame’s awesome products in Nigeria by joining their consultancy program.

As a consultant, you get to make money from the comfort of your home and at your own pace.

What’s more?

Newly registered members could earn up to N49,400 in cash.

So what are you waiting for? Sign up to start making money with these easy steps. 

How to Register or Get Started with Oriflame in Nigeria

Step 1. Using your favorite browser, visit Oriflame’s website (Here). On the homepage, tap on the 3-dash by the top-left corner.

Step 2. At the bottom of the page, hit “REGISTER”. You’ll be taken to a new page, wait while it loads.

Step 3. After loading, fill out the form, read and accept the terms of service, then hit Sign Up. 

After that, confirm your email. Congratulations, you’re now an Oriflame consultant.

2. Longrich

THE second-best MLM company in Nigeria on our list is Longrich.

They are similar to Oriflame in terms of product type.

Longrich is one of China’s best producers of cosmetic products. They’ve been in the field for over 30 years.

If you want to look beautiful, they’ve got a wide variety of healthcare, household, skincare, and personal care products. And they are not expensive.

In a bid to give back to society, Longrich has employed over 10,000 personnel in more than 50 countries of the world.

They’ve been in Nigeria since 2012. Since then, many people have been beneficiaries of their MLM structure.

Want to join Longrich?

Head over to Longrich’s website (Here) to get more details on how to register. It’s free! 

3. NeoLife (GNLD International) 

NEOLife has been involved with food nutrition products since 1958, and according to the MLM company, their product is fully backed by science and nature.

They promise to end poor nutrition and poverty, which is awesome. Not only that, but they also have some incentive awaiting their distributors as they climb each ladder of success in their multilevel marketing business with NeoLife.

They are in 10 African countries, which Nigeria is one of them.

Registering is FREE as a member, but if you want to become a distributor, you’ll need to get your starter kits which include all documents (ID card, bag, etc) you need to get started and some products worth 100PV which validate you as a standard distributor with the company.

Note: PV stands for Point Value. Which most MLM companies use to calculate their distributors’ performances.

If you’re interested, kindly contact me here. I will connect you with someone who’ll register you for FREE and train you on how to earn a living with the business, without hawking any product!

4. AIM Global (Alliance in Motion Global)

AIM Global is also among the top MLM companies in Nigeria that offer wonderful benefits to its members.

How?

For over 10 years, they’ve been in the business of transforming lives by offering “remarkable products”. Members and users value money by using any of AIM Global’s products.

In addition to that, AIM Global offers them one of the best compensation plans in the industry. 

With the rise and fall of many MLM companies, AIM Global has proven to be a formidable entity with a stable business structure. This is what earned them the hearts of millions around the world.

If they’ve earned yours, visit AIM Global (Here) to sign up. Or follow my steps below:

How to Register or Get Started with AIM Global in Nigeria

Step 1. Head over to the website using the link above. At the top-right corner, tap on the 3-dash to expand the options.

Step 2. Tap the last option or “DTS Login”

Step 3. On the next screen, hit “Register” and fill out your details.

That’s it! You can now start making money as a multilevel marketer by exploring other options on the site.

5. Norland Nigeria

Norland is a multi-faceted MLM company with a presence in many countries, including Nigeria.

Norland has amazing products in many fields. Some of the prominent ones include medicine, cosmetics, e-commerce, finance, and logistics. 

Currently, the company boasts of 1 million+ participants who are benefiting from its MLM program.

In Nigeria, there’s a huge community of Norland participants in different states of the country. With the numerous benefits, the community keeps growing daily.

And you can join by choosing any of their entry-level plans: 

  • Senior
  • Bronze
  • Silver
  • Gold 
  • Diamond

If this sounds good to you, head over to their site (Here)

6. Recharge and Get Paid

This is the new boy in town, but hey, he means business.

For real, Recharge and Get Paid does what the names say. 

RAGP is poised towards growing the welfare of Nigerian with its compensation plans.

A lot of benefits await you as a new distributor. It doesn’t stop there, you also get other benefits as you grow in level.

When you’re done, you can start up with as little as N5,000.

The site is easy to navigate, just click on this link to get started.

7. Organo Gold

Finally on our list of MLM companies that guarantee financial independence is Organo Gold. 

As the name implies, they are the gold standard brand for organic tea and coffee products.

From a coffee shop in Canada, they’ve gone on to dominate other brands with their great line of products.

With Organo Gold, you get a wide variety of teas and coffees to pick from. These are not your ordinary coffee and tea you drink almost daily, they are organic products with lots of health benefits.

Speaking of benefits, Organo Gold also gives you a chance to make money while enjoying its products.

Among the many out there, they’ve proven to be one of the top MLM companies; they give you the best of both worlds!

So, if you want to be wealthy you can join Organo Gold (Here).

But let me quickly answer some questions relating to MLM.

Frequently Asked Questions: MLM Companies in Nigeria

  • Is MLM a Ponzi or ‘quick to get rich’ scheme?

No, MLM is a very legit business, if you’re okay to run the business while prospecting new people to join your business tree.

  • What is the difference between MLM business and Ponzi schemes?

The differences are clear: MLM companies have products but Ponzi schemes do not, but rather promise people with sweet lies. Also, strong MLM companies last longer than Ponzi schemes.

WRAPPING UP – Best MLM Companies in Nigeria

If you go online, you’ll find a lot of MLM companies. For some, you can make good money, while others are a waste of time.

This is why you should check out these MLM companies in Nigeria that you can make real money and be financially independent.

What did I miss? 

Do you have any companies to suggest? Or you want to go with our pick?

Let’s hear from you.

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Business

5 Best Profitable Business to Start in Nigeria with N100k or $300

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Have you been surfing the net for the most profitable business to start in Nigeria with N100K or $300 equivalent? Or maybe you have a capital more than that but you’re still not sure of where to invest your money? Well, I will not tell or force you to start a particular business, but in this blog post, I’ll share some working tips with you.

NOTE: This blog post is inspired by what some entrepreneurs personally share about how they came up with their business model, and I hope it will also inspire you to start something today!

Now let start!

Profitable Business to Start in Nigeria with N100,000

These lucrative business ideas to start with N100k or $300 in Nigeria are;

  1. Turn Your Talent/Passion to Business

Yes, but I know you’re surprised right now that which kind of business is your passion. Well, your passion is a strong force to succeed in anything you lay your hands upon.

Besides, the story of this smart Nigerian entrepreneur will push you to discover your hidden talent today and turn it to a business.

Read below;

Two years ago, a male friend of mine called me and asked for my opinion on what he can do for his girlfriend on her birthday. I suggested something’s based on what I know ladies love. But he was not satisfied. He wanted something unique and different.

He said Osazua, I want to make it different and memorable. I have gotten her some wonderful gifts in the past. Is there nothing different? I asked him to give me some time to think about it.

After a few days, he called me again. He said his boss has asked him to go and represent him at an important event. He will be going out of town. That means he will miss his girlfriend’s birthday. He said he does not want her to miss him too much on that day. So he is leaving everything to me. It’s my duty to make her happy.

He sent me some money and asked me to arrange something. I got to work. I asked my friend to write a note about everything he likes about his woman. He did and sent it to my email. I hired three people to help me with the surprise I was planning. Since her birthday was on a Sunday, I was ready to give her the best. There was enough time to get it done.

At 6 am Sunday morning, I sent one of the three people I hired to go to her house to deliver a bottle of wine and a birthday cake. With the handwritten note of how her man truly feels about her. Guess, my hired hand woke her up that morning. She was happy and was surprised. What she didn’t know was there was more to come.

By 2 pm I sent someone else to deliver another gift basket that contains various skincare products, another bottle of wine with another handwritten note. At that time her sister and mum were there with her. She was surprised again. She was very happy.

Few days before her birthday, I called a few of her friends, my friend’s other male friends that she knows well, her sister, her mum, and a few of her colleagues. I told them they were invited to her birthday. It’s a surprise and she does not know about it. I told them when and where to meet. But I asked her sister and mum to make sure she was available at her house on that day.

At 7pm, we were all there with another birthday cake, drinks, snacks, and other stuff. That was when she lost it. She could not control her tears. She was laughing and crying at the same time. That night she danced until she was tired. I was very happy to have been able to make her happy. It was not as if she has not received those types of gifts before. It was the way they were delivered that made the difference.

And here is what he realized;

After that day, I knew I wanted to do this more. Yes. I want to do it again and again. I want to create a good business that makes people happy. All I did was to create awareness, and I spoke to my family and friends. Created an online profile and I got to work. All I spent to start this side business was not up to N100,000 before purity_gift was born. Since then till now, I can’t count how many surprise delivery I have done.

ADVICE FROM HIM:

I can tell you to open a beer parlor, I can tell you to sell female wears, I can tell you to sell male underwears, I can also tell you selling fairly used goods move a lot.

But will you be happy? will you be proud of what you are doing? Will you be fulfilled.? I will encourage you to search for yourself. What do you love to do? How will it benefit others? And will you get tired of it easily?

There are many business opportunities here in Nigeria. Search for it.

2. Start Dropshipping Business

I have been preaching about starting a dropshipping business. Well, here we are again.

In case you don’t know about this business, dropshipping is simply the kind of business where you sell stuff such as clothes, cosmetics, software, electronics, etc., online. The main point here is that you don’t need to buy this product or have it in stock.

All you need to do is to dropship from big e-Commerce marketplace like AlieXpress at a cheap rate and resell at a high price. You can see a cloth on Aliexpress for N3,000 and you sell at N5,000 –  that’s a profit of N2,000 without doing anything.

You can start a dropshipping business with less than N100,000 and make huge profits. But here is how to do it.

Note, you’ll need to have your online shopping store or website – that’s the first aspect you need to spend money. You can use N80,000 or $200 to set up a complete dropshipping website (including web designer fee). And use N20,000 or $100 for massive marketing on Instagram and Facebook.

You can probably start this with less than N100K or $250 USD. Here is what you will need your start-up funds for:

  • Domain name costs, hosting costs, website costs
  • Marketing costs
  • Logo design
  • Some money to sit stagnant in the bank account in a case of emergency

Dropshipping is a very low cost to start and can be very profitable if you market it effectively. The most expensive start-up cost will be your marketing and you would need to constantly test and refine your ads to make them as effective as possible.

If you don’t want to go through the stress of creating a website yourself, you can buy a profitable Shopify dropshipping website from BeBiggy at the rate of just N78,000 or $200 and use N20 for marketing.

That’s how you start a profitable business in Nigeria with N100k or less than $300.

3. Consulting/Service Business

This is what I do, and I can say it really worth it. You can make millions of Naira with this business idea.

I am sure you are good at something. Right? Think about things like…

  • Writing
  • Marketing
  • Web Designing
  • Web, Software or Mobile App Development
  • Virtual Assistant

Can you find people who need help with any of those? If you are not sure go check out top freelancing websites like Upwork and Fiverr. Lots of people need help and are actively looking at those sites.

Read this blog post on how to make money on Fiverr

How to Make Money with Consulting/Service Business?

  1. Make a killer profile (on Upwork or Fiverr) and start sending proposals/bids
  2. Attend local events in your city. Exchange business cards and follow up consistently
  3. Tell your family and friends
  4. If you start to make money, invest in starting your own digital agency.
  5. Invest in other businesses.

If you do this right, you can make a fortune, and you don’t need to invest your N100k to start a profitable business in Nigeria.

Check here for the best 15 digital skills to make money easily.

Investment = Nothing, if you have those skills! If you don’t have, you’ll need to invest in learning those skills on YouTube or buying premium courses on Udemy, Coursera, etc.

4. Cryptocurrency or Forex Trading

This is the most trending way to make money in Nigeria, I’m sure you’re aware of that.

BUT, don’t jump into cryptocurrency or forex trading without knowing the pros and cons, you need to learn how to read signals, set your stoploss and other stuff to become a profitable trader.

I personally don’t trade, but I’m in love with Bitcoin of a thing. I do buy and hold it because its price rises (but sometimes, decrease). But if you’re patient enough and ready to take risks, you can make hefty money with this.

For instance, you can buy bitcoin at N50,000 today and by tomorrow, the price might have increased to N67K – That’s N17,000 profits without trading or doing anything. The price of cryptocurrencies can’t be predicted with 100% assurance, as nobody is controlling it (i.e it is decentralized).

How much do you need to start?

You can start this profitable in Nigeria with $100 or N38k (to invest) and pay your mentor (or buy a course) for N40K. That’s approximately N80k

If you got a good mentor, you can turn your N38,000 investment to N380,000 within a month!

So yes, if you ask me: Which profitable business to start in Nigeria with N100,000, I will mention cryptocurrency and forex trading.

I also want to learn Forex trading, I got someone who demanded $200 – about N73K.

5. Blogging and Affiliate Marketing

Blogging is one of the viable ways to make money online, likewise affiliate marketing.

But if you start blogging without any fore-knowledge then, you’re going to quit sooner. I’ve been blogging since 2015 and I’m still in the game, not because I make a lot of money from it but because I have passion for it and, I know different ways to earn some bucks from it.

So, to start blogging, you’ll need to check what you’re good at writing about, or teaching people. If you discover that, then you can start!

How much do I need to start blogging in Nigeria?

You need less than N50,000 – To buy;

  • hosting and domain from Namecheap – $34 + $9 = $43/yr (N16,700)
  • theme from Themeforest – $59 (N22,900)
  • pay someone to design a simple blog for you – (N10,000)

That’s just N49,600 to start a blog in Nigeria!

If you hired me, you’ll spend less than that, I will give you a theme from my portfolio for N6,000.

That is N49,600 -N6,000 = N43,600!

Ways you can make money blogging in Nigeria;

  • Ads network like Google Adsense, Media.Net, Propeller, etc
  • Selling Ads space on your website
  • Sponsored posts
  • Selling backlinks
  • If you’re starting a music blog, you can help upcoming artists to promote their songs.

You can as well make money with Affiliate marketing in Nigeria, I got some tips to help you;

In Affiliate marketing, you don’t a dime to start, all you need to pay for is marketing. And you can reserve N10,000 to promote your affiliate products on Facebook and Instagram.

So, combining both Blogging and Affiliate marketing, you can start a profitable business in Nigeria with N100K

So, that’s it – Profitable Business to Start in Nigeria with N100K

I don’t have much to say that to tell you to start taking action today. Starting a business is not easy, but since you have N100k with you, don’t sleep on it, take one of these 5 business ideas and start working on it.

I hope this helps? If yes, kindly subscribe to my mailing list to receive free updates like this from me. I sent out updates every Friday and Monday.

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