10 Profitable Business To Start With Under N50,000 By Lovemore Leonard

4
827
10 Profitable Business To Start With Under N50,000 By Lovemore Leonard

Building a profitable business is essential in order to sustain in this country.

Almost a year ago, I taught my premium students different profitable business to start with under N100k. Lately, my team compiled the progress. Thirteen students have earned seven-figure profits, six have grossed over half a million in net revenue and well, two are still dancing shaku-shaku. So, the 90.5% success actually inspired this post using same business analysis tools.

I hurriedly joined this group last year when I heard John Obidi say “You don’t just jump and start living your passion, you need money to fuel it”. Kon hear auto-sense abeg! So, this list would help if; (1) you need to fuel your passion or create another stream of income, (2) you’re fed up with your current business model, (3) you need business ideas for your friends and loved ones. Also, we should network in the comment section after this post.

Let the listing of the profitable business begins.

  1. GENERAL BRANDING and SHIRT CUSTOMIZATION:

People would always need customized shirts to celebrate birthdays, weddings, burials, concerts, etc. Organisations would always need branded souvenirs, stickers, pieces of furniture, wears etc. Team supporters also need it to show off their team (let’s exclude Barcelona fans for now.lol).

Jude made N1.5m profits a few months back from customizing Black Panther Tee-shirts. In my early hustle days, I suggested to my Youth fellowship to get new shirts, running it made me extra N250k profits. The average profit is 90%. You may choose to play middleman in this business and make good profits or actually learn the simple branding skill and make mega profits.

2. LIVESTOCK FARMING:

I usually do not advice poultry, birds are delicate and require attention. My two top livestock in terms of low startup capital, less attention, and little technical know-how are (1) Snail farming; just get tyres for their housing and plantains peels for their feeding, finish, the rest is light weekly maintenance. The market is always there because of scarcity. 30k can even get you started. (2) Rabbit farming; they can even play in the living room. Very cute creatures ehn. Some would even buy from you as pets. Also, they can give birth to so many just like Mama Nkechi.

3. TUTORING

Yeah, you read correctly. A home lesson, exam training, campus tutorials, WhatsApp seminar etc. People like Helen would chant ” Coach, I don’t know how to teach oh”. My reply to her was “Very few people are born excellent tutors, most are self-made! Take teaching like you’re gisting and it would flow naturally. Don’t try to “act” a standard teacher”.

Well, that same Helen just bought a Pathfinder Jeep from running home lessons for clients. Friends, you’re definitely good at a subject, and even if you’re Head-of-Olodos, you can handle primary school subjects. Do fliers, banners and some branding with your capital. No matter your age, this is another well-paying job, either as part-time or full-time. It’s mostly in the evenings, so expect serious flexibility.

It must not necessarily be a home lesson, it can be WhatsApp seminars or something. Just improvise. Trust me, people are willing to pay.

READ ALSO: How Email Marketing Can Benefit and Boost Your Business

4. BED SHEET/BEDDING PRODUCTION:

Every major state has a huge market to get materials in bulk. Go to Oshodi if you’re around Lagos. Pick awesome materials. You’ll find tailors to work on it in that same market. Don’t limit yourself to just bed sheet. There’s tablecloth, handkerchiefs, boxers etc. Please never make the mistake of producing a lot of products then become stuck without selling. Always create a market demand for mass production.

5. DIGITAL MARKETING:

I wish you know the desperation of thousands of business looking for more sales. Without sales, there’s no business. That’s where digital marketers come in handy. A review said 50% of the world sale would be performed online by 2020. So there’s a pressing need for this skill! About N30k can buy a digital marketing basics course. N15k to register a business name for better packaging. That’s it, you’re already in business.

Also, make sure any digital marketing course you pay for contains templates of proposal letters to an organization. My company can offer this course.

6. MINI IMPORTATION BUSINESS

Sweet business if done right. My student sold a John Foster shoe to me for N45k. I pondered how he made profits as that amount seemed to be lower than other shoe stores in Abuja. However, I stumbled on his laptop one afternoon to see a Chinese wholesale website selling it for $55 (N22k). That’s over 100% profits! The accessories you buy for N5k can be gotten for $6 (2k).

Items like phones, electronics, wears, etc. The list is endless. With less than N50k, dear you’re good to go. My team, Pat Ogidi, and other coaches offer valuable information as to how to begin this business.

READ ALSO: 7 Amazing Effective Leadership Skills for All Managers

7. SNACKS and DRINKS

The production skills are pretty easy to learn. What should distinct you in this business is your packaging and smart marketing strategy. Always value customer service. You may not need a shop for a start. Just have a good supply chain and show-glass if need be. You’ll grow! Production of Smoothies, cocktail, sausage, small chops, cupcakes, chinchin etc. Always research for the perfect snack and drink combination. If you like to sell zobo and shawarma. OYO

8. FAIRLY USED WEARS

“Me I cannot sell fairly used wears oh”. Wee you keep kwayet?! Those in Abuja should know a dope building beside Orji Uzor House, Wuse. The major business of the man who resides there’s is bulk sales of fairly used wears! Wait, when I say “fairly used wears” I’m not talking about the heavily degraded ones you see in the market. Most wealthy people don’t wear clothes repeatedly. So what happens to those clothes?

Bros, if Bill Gates decides to give away his clothes, I’ll bottle my pride, throw inside Lagos lagoon, collect them, and upload selfie. My point is fairly used clothes are of different grades and you can access them with less than N50k.

9. FRUITS AND GRILLS

Grills and fruits are eatables that people usually buy on impulse. The amount of money grilled meat sellers have collected from me, it can build three bedrooms flat and small swimming pool. Fruits and Grills business just need a “strategic location”. After studying fruit business for a while, I wanted to stop going to the office and just become a professional fruit seller. Make your research, it’s super lucrative.

10. PARTNERSHIP

Entrepreneurship is not for everybody. Yeah, some are just meant to do the 9-5 behind the desk job. We all have that one person around us we know is very good with business. Invest with him or her. Learn to leverage the power of partnership. It’s a soft way to get passive income.

If you have a strong will to “hustle” N50k isn’t really challenging to raise. Also, the more money you invest, the easier it is to create a system for more profits.

READ ALSO: 1st Class Certificate Without Employability Skills Is A Disaster

PS: To avoid unnecessary losses, don’t go into any of this businesses without a “guide” from an expert in the field.

If you’re an expert or know any expert in any of the profitable business above, please mention him or her in the comment section. Feel free to ask any question in the comment section.

My name is Lovemore Leonard and I just want to build financially free people.

#ProfitableBusiness2018
#BusinessCoach
#CoachLovemore

Contact the author here Lovemore Leonard

4 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here