How to start a restaurant business in Nigeria? I guess that’s what brought you to this page.
Nigeria is a country where entrepreneurship earn you a living more than the school certificates.
I’ve personally seen a lot of people who, after graduating from higher institution joined the league of smart entrepreneurs in Nigeria.
If you’re intending to be one of us, you’re highly welcomed and let me tell you that there is no competition that can get you stranded in Nigeria’s market provided you’re honest and passionate in what you are doing.
There are tons of lucrative business ideas in Nigeria and restaurant business is among.
Don’t think it’s overcrowded. Branding is the best key you need to succeed as a young restaurant business owner in Nigeria.
Either you’re thinking of establishing solely or hiring few workers like the chef, the deliveryman, attendant or any other worker, the choice is yours.
The most important aspect to start a restaurant business in Nigeria is “the food”.
What I mean is that, the quality of your food will determine the level of success in this business.
For me I’ll say that this is the only business that’ll never leave the market.
The reason is simple; as long as humans exists, there will be demand for food, which a restaurant offers. The wide variety of foods on offer is another wonderful reason I love the restaurant industry.
If food A doesn’t sell, Food B, C or any other type will sell.
The following tips will guide you through the process of starting a restaurant business in Nigeria.
Step-by-step Guide to Start a Restaurant Business in Nigeria
- Get your capital
Like with most businesses, securing your capital is pivotal to the start of a restaurant business.
There’s no specific amount I can give you right now but your capital is dependent on the size and location of your restaurant. The bigger the place, the more expensive the rent, and when it comes to location, some areas are less expensive than others.
You’re going to need equipment, pay your workers depending on the size of your staff, register your business and all these should be taken into consideration when getting your capital. For opening a restaurant you should budget from N100,000 and above
- Seeks for advices
Experience they say is the best teacher, but sometimes, it’s better to learn from the experience of others than learning from your own bitter experience.
Meet with those who are already into the restaurant business owners in Nigeria and seek advice from them.
You’ll learn from them the industry best practices, best methods of preparing and preserving dishes, handling of staff and other tips they’ll be willing to share.
Although some may be willing to share the secret of their success in the restaurant business with you, others may not.
This is because of the highly competitive nature of this business, to them sharing their tips would increase the competition. You can still find those who would be willing to share or you could carry out a research to see this for yourself.
- Get a good location
The next thing you should do is to find a good spot to site your restaurant.
You should be looking for an open place that very easy to navigate so as make it easier to find your place.
There’s huge competition in the restaurant industry, therefore your place of business should be a little bit closer to the road, if your restaurant is sited very far from the road, customers may find it inconveniencing getting to your place, they’d look for a much closer place and this could ruin your business overtime.
4. Get all the Necessary equipment
Pots, plates, spoons, forks, frying pan, cooking gas/electric stove, all these and more you should get before starting your restaurant business.
When talking about cooking utensils/equipment, you need to know that they all come in different sizes. The size you choose to get is dependent on the following factors;
- The quantity of your meals
- The time used to prepare the meals
- The size of your customers
All these should be at the back of your mind before purchasing any utensil or equipment. You can choose to start with smaller sizes, you can increase the size once you start getting more customers.
5. Hire a Good Cook (chef)
Sole proprietorship is pretty good for some businesses but when it comes to the restaurant side of life, it’s not nearly impossible to run the business on your own.
Due to the amount of work and time to put in, you’ll need helping hands to succeed in this business and one of those is a ‘Good Cook’.
How do you know how good a cook is?
Let me state the importance of a good cook; the quality of your food is what will attract customers to your restaurant. It should be your primary focus, other services including your customer service, cleaning, laundry etc are important but are secondary.
A good cook should be able to prepare most meals, especially popular delicacies.
You can know the quality of the food by tasting the meals prepared by the cook, this should be in form of a test where the cook is to prepare different dishes.
You and a couple others should taste the meal before approval, two heads they say is better than one.
When starting a restaurant business you can begin with a single cook you could increase the number of cooks as the business grows.
6. Add Spice to your place
Another thing apart from the quality of the food that’ll attract customers to your place is the aesthetics of your place.
When starting a restaurant business in Nigeria, you should also consider this, let your place of business be eye-catching.
For the painting, light colour should be more prominent as dark colour will give it a dull look. Your choice of furniture also, should be top quality and very comfortable.
If you have a good eye for aesthetics, you could do this yourself, if not there are professionals who could handle this for you.
7. Register your business
Register your restaurant business with Nigerian Cooperate Affairs Commission (CAC).
It’s very easy to register your business this days.
Unlike in the past years, you can now register your business online. Registering your business gives you more authority over your business against any disturbances that may result from anybody. It also protects your brand name.
After your business name registration, make sure you obey the rules and regulations so as not to be sanctioned.
It may seem less important, but when starting your restaurant business in Nigeria, it’s pertinent you do this. You can read more about registering your business in Nigeria with CAC by clicking here.
8. Get a business website and social media handles
As you may have known that most successful business are on internet.
No matter how small or big your restaurant business may be, try to get a business website and get some social media handles.
For instance, I have worked with a restaurant business owner in India.
This man invest more on Digital marketing tools and their implementation than any other area of his business and, he’s selling more than the crude competitors who runs their business offline.
Check out his website here and verify what I’m trying to tell you >>>>> https://SimplyHomeFood.com
If you’re thinking of selling your delicacies to people who will value them, get them on social media and your website.
Create a business facebook page and group for your restaurant business in Nigeria.
There are millions of people making money online on Instagram, try to join them by opening an Instagram account for your business.
9. Increase Your Business’ Size
You may have hired a good chef but, you’ll need others to help out in other departments.
You’ll be needing;
- A waiter or waitress.
- Deliveryman or driver
- Security officer
- Marketing officer
- And so on
These people will help you more than you think.
But the most important thing here is that you guys needs to build good team and your employees should also have good customer relation skills.
If you’d be hiring, make sure your staff members have integrity.
The number of workers you should have for each position is at your discretion.
10. Invest more in marketing/advertising
To get more customers, you need to advertise your business to them.
This is one of the best thing most business refused to do. Don’t think about the money you’re going to spend but focus on the positive results.
There are different ways you can attract more customers to your business. But let me mention few;
- Run Facebook/Instagram Ad campaign
- Print complementary or business card and give them to people
- Go to different institutions like banks, event centre, schools and tell them about your business (don’t forget to tell them that there’s FREE delivery)
- Print vests and give them out to your staff, friends, family and mutual customers
- Give coupons
- And so on.
If you can follow this step-by-step guide, you can be rest assured you establish a great business.
With all the logistics involved, starting a business in Nigeria could prove to be a difficult journey but with the right motivation you could overcome the hurdles of starting and even, becoming a famous and millionaire like CaptainCook, Domino Pizza etc.
Restaurant business in Nigeria is a very profitable money making idea with the application of the above information you should see significant progress in the restaurant industry.
Do you have any question? If yes, please kindly share ask or tell us what you think using the comment box below.
Don’t forget that if you’re interested in learning how to start a restaurant business in Nigeria, thousands of people including your friends may be interested also. Why not share this with them using the share buttons below?
8 Effective Ways to Reduce Your Household Expenses
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.
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.
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.
Top 7 MLM Companies in Nigeria To Make Real Money
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.
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.
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.
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:
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.
5 Best Profitable Business to Start in Nigeria with N100k or $300
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;
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.
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.
- Do research on what people around you need or can buy (optional)
- Learn how to start dropshipping – Read this blog post to get started
- Start your own online store
- Then dropship the products.
- Start marketing with paid Facebook and Instagram Ads
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…
- 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?
- Make a killer profile (on Upwork or Fiverr) and start sending proposals/bids
- Attend local events in your city. Exchange business cards and follow up consistently
- Tell your family and friends
- If you start to make money, invest in starting your own digital agency.
- 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;
- How to Start Affiliate Marketing Business in Nigeria
- Top Affiliate Marketing Programs in Nigeria
- How to Create a PayPal Account to receive your payment
- How to Create a Payoneer Account to use as another Method.
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.
Don’t forget that sharing is caring, this might help someone, kindly share using the floating social icons here on this website.
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