Recently updated on November 4th, 2023 at 01:00 am
Last Updated on November 4, 2023
If you find yourself asking the question “what business can I start with 150K in Nigeria“, this guide is for you. We’ll explore the best business ideas that you can start and make some income from.
Starting a business with limited capital can be challenging, but it’s not impossible. so you’ll have to put in a lot of work when it comes to market research, business planning, funding, legal requirements, and marketing.
You’ll have to ascertain if there is a market for your product or service if you’re going to try to start a business in Nigeria with limited funds like 150k.
Let’s get started on finding you a business to start with 150k in Nigeria that can be profitable.
What Business Can I Start with 150k in Nigeria?
Well, you have the chance to start building a profitable business in Nigeria if you consider the best businesses you can start with 150k in Nigeria. With 150k, you have several business options to consider, and some of them include:
1. Online Selling
With the use of social media and e-commerce platforms on the rise, selling products online is becoming increasingly popular in Nigeria and everywhere else on the planet.
You can sell a variety of items, such as clothing, gadgets, or beauty products, on online shopping platforms like Jumia, Konga, Jiji or Instagram.
Checkout: Best Buy Now Pay Later Stores in Nigeria
2. Sell Food
People love to eat, so starting a small eatery with a clean environment and tasty food is a great way to start a business with 150k in Nigeria and make lots of profit.
From there you can build the business into a bigger space and even start doing catering and events or even an online food business.
Dropshipping is now an OG online business. It is simple to start but it can take a bit of a while for things to really go green.
Dropshipping involves selling products to customers without physically holding inventory. So in this case, your dropshiping business orders products from a supplier who ships them directly to the customer.
One of the best ways to start a dropship business in Nigeria is with Spocket.
4. Tailoring Business
You can consider becoming a tailor and starting your own company. However, 150k might not get you your own tailoring business because of how expensive it can be to get a machine or a space, but you can use the funds to start learning the business and maybe go into a partnership with another tailor.
Just make sure you have the terms and contract well documented.
5. POS Business
Considering how popular POS machines have become popular in Nigeria nowadays, POS business is still a hot cake in Nigeria
Simply visit any bank of your choice or any POS service and ask for a POS machine to get started. Once all necessary fees have been paid to the POS company and you have become an agent with a POS machine, your POS business will help other people perform financial transactions while you get paid for each of them.
5. Okrika Clothes Business
In Nigeria, selling reasonably used clothing is a big big industry since the majority of the population cannot buy the original fashion pieces and have to depend on these alternatives.
You may purchase these clothes from stores like Cotonu or make connections with other wholesale vendors so they can lead you. You may either set up shop at a market, hawk your wares, or travel to a place like a school where these garments will be in high demand if you want to sell worn clothing.
6. Trading Business
Trading is defined as the act of buying and selling, therefore all you need to do is buy cheap things in large quantities and set up a site to sell them as a manufacturer or shop.
People will always have needs, therefore if you can fill those needs in exchange for money, you are a successful daily income trader. This is also one of Nigeria’s fastest-growing daily income enterprises.
Many people choose to blog, but it is challenging to get started and it takes time for your site to begin making money.
There are many ways to make money from your blog every day, but setting up your site and building a following of followers comes first. You will be well on your way to generating a reliable daily passive income if your website receives a significant amount of daily visitors.
You may launch this online business in Nigeria for at least N60,000 Naira. Learn how to start a blog in Nigeria.
8. Laundry Business
For those asking what business can i start with 150k in Nigeria, who live in a densely populated area where a lot of people have a 9-5 job. A laundry business is perfect for you.
All you have to do is collect dirty clothes from people, wash them iron them and package them.
Starting a laundry business does not require much, just a small space close to a water source, containers and washing materials, A table and a pressing iron.
9. Mobile Devices Charging Business
Nigeria’s horrific electricity doesn’t look like it will come to an end very soon and people need to charge their smartphones and other internet-enabled devices.
Still, asking what business I can start with 150k in Nigeria despite some of the options above. Well, a mobile device charging business is a good business to start. But you have to make sure that wherever you’re starting this business there have to be a lot of people and a really bad power supply.
All you need is a small space, socket boards a generator and maybe a table and a lock and you’re good to go.
10. Phone Accessories Business
This can be a very lucrative business to start with 150k in Nigeria.
Almost everyone uses a smartphone these days so selling phone accessories like chargers, phone cases, earpieces, headphones etc.
To start your phone accessories business you need a small shop and need to source these phone accessories from wholesalers like Alaba market or Ikeja Computer Village in Lagos, and NITA market in Abuja, depending on your location.
11. Pastries & Baking Business
If you remotely like cooking or baking then a Pastries and baking business is a good business to start with 150k in NIgeria.
You can start in an open space and sell baked goods and pastries like puff puff, chin chin, egg rolls, plantain chips, and small cakes.
You can quickly grow the business by selling small chops and baking cakes for birthday parties and weddings.
This business is great because you can sell to students, adults and all types of people and more importantly it has potential for growth.
Deciding the Business to Start with 150k in Nigeria
The type of business you can start with 150K in Nigeria will depend a lot on your location and also the skills you possess. Your interest can also point you to what business you can start with 150K.
Some top businesses to consider if your capital is 150k in Nigeria are POS business, Selling online, phone accessories business, blogging, laundry business, baking and pastries business, okrika clothes business, and a small trading business.