Before I give you my tips on how to start a lucrative business with 50,000 Naira, do you truly know the meaning of business? Do you have any knowledge about handling a business? It is not only about making money, and it is about you risking your funds on it first and expecting the long term results.
Introduction of business ( business exposure)
A business is a specific commercial enterprise or establishment, that one engages in as work. It could be either profitable or loss at the end, the results you get at the end proves how much you have invested in it.
In Nigeria, there are lots of businesses that a man or woman can invest in it, and he or she will surely make money in return.
Firstly, know the first plan of any business owners, and that’s profit.
The most profitable business you can start with significant investment includes oil and gas business, table water business, groundnut oil business, Gas filling, etcetera.
In this article, we wrote extensively on three categories we believe would fit in as regard businesses in Nigeria, the first category is
Business with little capital
Aside from businesses that require a large sum of capital to start there are also businesses that you can start with just a little money and in return, this business could fetch you a large amount of money.
Furthermore, apart from being a guy or girl, the best decision that you can make is to turn your business dreams into a reality by making it your utmost priority, how can you achieve this? Be sensitive and always develop the right mindset towards your business ideas.
Let’s site an instance with someone that makes a profit of #200 on a shirt he bought at the range of N1,000, and he or she now buys something of #1000 out of that same money, if I may ask you will that be profit to him or a loss? If such a person continues this way, he may end up becoming frustrated because the amount he invested in the business is now decreasing like that; your first plan in any business is to make back the money you invested in it. Don’t be a spendthrift to the extent that you spend more than what you make, and what ends any business is bankruptcy, insolvent, that time you won’t be able to pay back your bills.
As for a man, you can work at any place to develop some skills, knowledge is required, and that could be gain during the time of your learning period. Before you can start any business what you need most is money! I will lay more emphasis on that because for it to progress the same money will be useful for it. Sometimes what you gain at the end won’t be any benefit to you because you spend more than you earn, so that’s why I keep saying it that you need backup money before using that #50,000 to start any of it. The funds will be set aside for any expenses such as food, transport etc… It will also be useful for something else when the business is not growing as expected, that’s why you need another extra money.
What you need to know before you start any business is:-
1. It is either you gain or loss:- The motto of any business is gain or loss, so you just have to accept any of the ones you get at the end.
2. It will consume much of your time
3. It needs you and your attention and consistency
4. Focus and determination, not the one you will start and then decide to quit within a month entirely
5. Business orientation:- self-orientation first, then business orientation. Both involve a lot of formats that you should have known.
6. Information about the business, what’s going on in the market, how much is the current price of your goods? Go for market survey
7. Be present with your business
8. Be kind and loyal to your customers:- don’t be harsh on them, learn how to satisfy a customer.
9. Good location.
Also, I will not only talk about the business but also help you in another area that It would be more beneficial to you. Let’s assume you start the market today, are you expected to start making your money back from that day? Yes, it is true! You can start making your money from day one that you start the business, but most of everything is getting people’s wants.
Don’t be too lazy to read this no matter how long it is, just knows the fact that ‘To become a man is not a day job and to embark on any business is not what you can be self guaranteed that you will succeed in all areas.
Let’s be guided !!!
There are lot of businesses you can do, no matter how little you have with you, there is Grace that it can turn to more significant and plenty if only you do what you are supposed to do. The business still requires a good location; you have to get the right place that you know that these goods will move.
Lucrative business to start with 50,000 for any gender.
1. Catering:- As we all know what catering is all about, whether you do it in your shop or at any event, you will still make your money. People will come for your service; they will pay you when you give them the perfect taste. You have to be well oriented in this area, be an excellent cook to the extent that you won’t have any competition or customers doubting your services, example Is making tasty snacks
2. Trading – Trading comes with a lot of kinds; it has it own types; whatever you choose to trade is what the customers will seek .
Types of trading
I. Oil trading – Oil trading is a good and best lucrative business in Nigeria; this type of business requires little capital to start- in this category, we have Groundnut oil, palm oil, soya oil etcetera
II. Home appliances:- This aspect of business deals basically with everything that is used at home; it is what we can’t do without at home. It includes Torchlight, gas cooker, stove, iron, cotton, kitchen utensils..etc
III. Provision – It is one of the best trading business In Nigeria, you are free to sell in any environment irrespective of the location. As it solves people’s daily needs
Let’s stop here and move forward to others that you can also start with #50,000
3. Drinks Business:- This business is just about drinks; it is not the type of business that you’ll sit down in a day without selling. With this type of business, you are sure of making high profits at the end of the day. Understand this business and what it will take to become a pro in this field. I will advise you to add pure water also to it, make it cold all the time to get more customers. You can also find the hawkers of drinks around you, and you will start supplying them with one or two packs.
It is not only about drinks; with this process, you can become a distributor of beverages, you could also be connected with a lot of companies and even become a supplier of pure water, soft drinks and alcoholic drinks.
4. Boutique – They deal with clothes. Either T-shirt, round neck, shoes, bags, men wears and women wear. This business is not only about waiting at a shop for customers to come; you are free to market your goods; you can make your money, and also gain more customers.
Also, Being an entrepreneur is better than a meagre salary earner, If you can cope with all these business ideas I just suggested to you, don’t doubt it because out of the undoubt things there is a possibility in it.
According to one of business owner that online9ja seek before coming upthis project, he told us, “I have been working under someone for so lon,g but I won’t lie for you, the money I make from being an entrepreneur is far better than the time I wasted while I’m earning salary”.
Thanks for reading, pls don’t forget to share, we have a lot facing the challenges of what to start with the little capital with them.