Lucrative Business You Can Start with 300k to 500k in Nigeria

Lucrative business you can start with 300k to 500k in Nigeria are simple business like POS/E-payment services, e-retail business, small restaurant or food shop and many more.

As a beginner, you need to understand that starting a business in Nigeria can be difficult when there is no capital to begin. People are filled with great ideas, equipped with business spirit, and  want to start this business here and there. Many proceed further to the extent of securing loan, yet there is no much available loan source and if at all there was, the interest is not favourable.

1. POS Business 

As you consider starting a POS business, it’s essential to understand the fundamentals. With 300k to 500k you can set up a POS business in Nigeria. A POS business is a critical component of the financial services sector, enabling customers to make transactions such as withdrawals, transfers, and bill payments. Imagine being able to provide these essential services to individuals and communities, contributing to financial inclusion and convenience. By starting a POS business, you can be a part of this vital network.

POS  services refer to the technology and infrastructure that facilitate transactions between customers and financial institutions. When you start a POS business, you’ll be providing a platform for customers to access their funds, make payments, and perform various financial transactions. The role of POS businesses in providing financial services is to act as a bridge between cash and digital transactions, making financial services more accessible and convenient for everyone. By offering POS services, you’ll be enabling customers to manage their finances efficiently, pay bills, and transfer funds with ease. As you are about starting a POS business, you’ll be playing a vital role in promoting financial inclusion and driving economic growth.

2. Blogging Business

You can start a lucrative blogging business with 300k to 500k in Nigeria. Blogging is the act of writing a post on a blog. A blog originally came from the word “weblog” or a “web log”. You can think of it as an online journal or diary, although blogs are used for much more now, like online journalism.

Blogging is  essential to marketing a business. A business blog is a marketing channel that helps businesses increase visibility online, brand awareness, blog subscribers, and support business growth.

If you consider a blogging business of course it won’t be a bad idea. Blogging is a lucrative online career. There are many CMS you can use, but the most versatile and user-friendly platform out there is WordPress.

Bloggers makes money from Google AdSense. Google AdSense  is a revenue-sharing opportunity for publishers in the Google network. Google place ads for goods and services that are relevant to the content of your site, targeted to the people who frequent your pages. In turn, you get paid when the ad is either displayed on your page or clicked on.

Affiliate marketing is another earning opportunity in blogging. It is when you recommend a product or service to your audience using special tracking links, and then get a referral commission for every time someone buys after clicking your link.

Read also: How to become a professional digital marketer 

3. Online Jewelry Business

One of the University of Ibadan  student shares her experience in online and prospective jewelry business and it won’t be a bad idea if I share with you. According to her, she decided to get involved in the business after observing how many people viewing her status on WhatsApp and how people got engaged with her post on Facebook. However she started posting some of her  jewelry stuff on social media to experiment if at all anyone would order for it.  Luckily, one of her friend was interested and negotiated the item with a good discount to open up a good customer relationship. After an agreed negotiation, she went to the market to order the same jewelry and sold to her friend.  Brother and sister this is how her business started online including prospecting from one office to another and by God’s grace today she owned a shop for her business. But remember she started online. It is not about big capital, it is about knowing how to industrialize your environment. With 300k to 500k you can start jewelry business in Nigeria.

How to get started: If you’re interested in jewelry business, with 300k to 500k you can get started. You can buy your product in Lagos at cheaper rate and sell at a friendly rate in your area. And if you live within Lagos you can also do the business within your environment.  The business does not require too much stress.

4. Cake baking business

Cake is one of the most consumed snacks in Nigeria. It is often the dessert choice at ceremonial occasions like weddings, birthdays, Christmas, New year and other festivals. Sometimes, cake is presented as a gift. The demand for cake production in Nigeria is always high on weekends because many people do their wedding ceremonies then.

During Valentine season, the rush for cake can be overwhelming. Everyone wants to show his or her lover that they care through cake. A birthday party without a cake is incomplete in any part of the world today.

How to get started: You can learn cake baking online like You Tube. If you’re interested in cake baking business, with 300k to 500k you can get started.

Step one: As I said earlier, get training or get a recipe online.

Step two: Buy equipment’s like cake mixer, scale,cellophane bags for packaging, cupcake pans and cupcake cases. Spatula, measuring spoons and cups, good flavors.

Step three: You would need to find point of sales and create awareness

5. Selling Soft Drink or Bottled Water

selling of soft drinks and water is a very lucrative business, because it’s every day consumption product, if you are in a very populated area or cities you can consider this business. You can start this business with just 300k to 500k or less and above.

How to get started: Get a space in a busy area like commercial bus terminal, buy a big cooler, an umbrella, iced block, a small banner to indicate what your selling.

6. Popcorn Business

People consume popcorn and buy snacks ever now and then, and popcorn is one of the most selling snacks, because people eat it in their home, along the road, in their shops, vehicle and even in the cinemas. Staring popcorn business doesn’t required a shop to get started, in most cases it only required an exposed environment. Popcorn business has no gender discrimination and if you get the right tools for popcorn, the business is totally stress free, also you can be making good amount of money daily if you are in a busy location.

How to get started: Buy a popcorn machine, Corn, Butter, Groundnut oil, Sugar, Salt, Flavor nylon, Powdered milk, and stay in  busy road or commercial bus terminal or market. You can start this business with just 300k to 500k.

You don’t need to rent a shop, you can partner with someone in his/her shop since you won’t be disturbing them or you can get an umbrella, clean up any free space in a busy area and start your business. In some cases you may be required to pay some token amount to the local government council to start your business in some area.

7. Phone Accessories Business

Phone accessories are phone stuffs like phone chargers, air pies, USB drive, memory card etc. People have issues with their phone accessories every day mostly chargers. This business is very lucrative if you are in a busy location. Starting this business is not costly; you can start this business with 300k to 500k naira.

8 Fast Food Joints

Everyone eat food, sometimes we cook what we eat by ourselves. But do you know it is not all the time we feel like cooking or even have the time to? Even if you prepare your breakfast by yourself, how about launch and dinner? Will you go with your cooking stuffs to the office? This is why fast food joints will never run down.

You can set up a food joints with 300k to 500k. and start making money from it. You can even deliver to companies at the break time saving them the stress and time going out to look for food by bringing it to them at the office; they will so much appreciate you while you make your money.

9. Dry Cleaning Business

You can start this business right from your home with small capital of 300k to 500k. If you don’t have money then use you hand for the washing and iron them, I am sure you have a pressing iron already. If you have money to invest, then you can get a washing machine and start doing it right in your home till you are able to raise cash for store rent.

10. Fish Fingerlings Production Business

Have you seen catfish before? the baby of catfish is called fingerlings. If you are a person that like agriculture such as farming, then you can venture into this business as it very lucrative but it required some skills. There are places to acquire the skill in most cases it cost you nothing. The process of producing fingerlings is easy, the only important thing is getting buyers ready before production. This business is lucrative, you can start fish fingerlings production business with 300k to 500k Naira  and in your first production you will make huge profit if nothing go wrong. Fingerlings farming is very lucrative in Nigeria.

11. Shawama/Barbecue Business

This is another business you can start with small amount and be making some cool cash daily, shawama is consumed daily. Some people like eating barbecue or shawama while drinking in beer parlor and also like buying for their family. The right place for this business is a front of beer parlor, or club. You can start shawama or barbecue business with as low as 300k to 500k.

12. Poultry Business

You can do poultry farming right in your backyard. You can buy a big cage that can contain up to 10 chickens, and in just 5 months you can start selling them for for higher profit specially in season of celebration. 300k to 500k can get you started in this business comfortably and there is no too much stress on it.