10 Small Business Booming In Nigeria – How To Start Yours

10 Small Business Booming In Nigeria – How To Start Yours

With the increasing cost of living and level of unemployment in Nigeria, more Nigerians are searching for ways to start small, profitable businesses that can help them take control of their finances.

This also applies to students, graduates, and adults looking to start a business, whether on a full scale or as a side income.

That’s why I will share 10 small businesses booming in Nigeria and how to start yours. These businesses are easy to start, require small capital and thrive in the market.  You will get to know how you can start and advertise the business.

1. POS Or Agency Banking Business
2. Food Vending Service
3. Clothing Business
4. Hair, Wig And Beauty Business
5. Mini Importation Business
6. Laundry And Ironing Services
7. Content Creation And Social Media Management
8. Organic Skincare Or Beauty Products
9. Digital Skills Training And Online Coaching

Now let’s discuss these 10 Small Business Booming In Nigeria and  How To Start Yours with a low capital.

1. POS Or Agency Banking Business

Pos business is a thriving business in Nigeria. Most banks are located far from people’s homes, and to go, they need to take transport. So instead of going through the stress, they quickly use pos for their transactions.

The good thing is that it is fast, they don’t need to fill a teller, or stand in line before they get money for their usage

• The start-up cost ranges from ₦50,000 to ₦150,000
• The monthly profit ranges from ₦40,000 to ₦150,000

The key requirements needed to start are a POS machine, a location, business name registration (optional), and an Android phone.

You can obtain POS machines from partners like OPay, Palmpay, Moniepoint, etc., and it is advisable to set up in high-traffic areas, such as markets, junctions, or near campuses. You can also add airtime and bill payment for extra income.

2. Food Vending Service

This kind of business thrives in areas where busy workers and students stay because they always need affordable, home-style meals, without the stress of cooking. For students, exam periods can be very occupied for them as they will need time to focus on their books, so they tend to buy food outside.

• The Startup Cost ranges from ₦20,000 to ₦70,000
• The Monthly Profit ranges from ₦60,000 to ₦200,000

The key Requirements needed to start include: Cooking utensils, packaging, delivery options for workers in workplaces, and lunch for school kids. You can use platforms like  Instagram and WhatsApp to get more customers

3. Clothing Business

People wear clothes every day, and they like to buy more to look good. Starting a clothing business that targets students, workers, and children will sell really fast because these people go out every day.

• The startup cost ranges from ₦30,000 to ₦100,000
• The monthly profit ranges from ₦80,000 to ₦250,000

Depending on the location, these clothes can be bought from Lagos, Aba, Onitsha, or imported from Cotonou. It is important to focus more on what people are buying

4. Hair, Wig And Beauty Business

Nigerian women want to look good and attractive. Nigerian women spend on hair, wigs, and beauty products.  And these products sell a lot.

• The Startup Cost ranges from ₦40,000–₦200,000
• The Monthly Profit ranges from ₦100,000 to ₦300,000

Key requirements needed to start, WhatsApp and other social media handles, to advertise the products, buy wigs, mannequins, and ring light (optional). You can also offer home service delivery for your customers

5. Mini Importation Business

This business is thriving in Nigeria, people import beauty products, fashion products, and gadgets and sell them to people to make profits.

• The Startup Cost ranges from ₦50,000 to ₦150,000
• The Monthly Profit ranges from ₦80,000 to ₦250,000

When you import these products, market them on your social media handle, and run simple ads to reach a wider audience.

6. Laundry And Ironing Services

Another small business that you can start with little capital is a laundry and ironing business. Workers, students and busy businessmen and women don’t have the time to do laundry at home.  They took the clothes to a laundry shop and paid for it

• The Startup Cost ranges from ₦30,000–₦80,000
• The Monthly Profit ranges from ₦50,000 to ₦150,000

Key requirements to start are buckets, detergents, hangers, and branded nylon. You can offer pick up, delivery service and stain removal for customers

7. Content Creation And Social Media Management

Lots of businesses today want to create awareness and establish their presence online.  To do this, they need content creators and social media managers to help them build their brand.

• The Startup Cost ranges from ₦0 to ₦50,000 (if you already own a smartphone)
• The Monthly Profit ranges from ₦100,000 to ₦500,000

The key requirements are basic skills in the use of Canva, CapCut, InShot and seo basics. You can offer services like Instagram & TikTok content planning, Reels editing, and caption writing

8. Organic Skincare Or Beauty Products

These days, lots of young women, students, are making use of organic skincare products to maintain their skin health. And it’s a niche that people patronise frequently.

• Startup Cost: ₦30,000–₦80,000
• Monthly Profit: ₦100,000–₦300,000

To start, create awareness and ask questions about the kind of products people want and focus on the products that customers demand more.  These products include black soap, turmeric mask, body butter, etc.

9. Digital Skills Training And Online Coaching

Digital skills are currently in demand, and people are paying to acquire those skills. They include graphic design, copywriting, UI/UX, and freelancing.

• Startup Cost: ₦0 (if you already have the skill)
• Monthly Profit: ₦150,000–₦500,000+

You can monetise it by launching mini-courses, selling an eBook, or creating a mentorship program

You Might Have Questions Like

1. How Can I Market My Business Without Money?

You market your business on TikTok, Instagram Reels, and WhatsApp status by posting engaging content about the services or products you offer

2. Can I Run Any Of These Businesses While In School Or NYSC?

Yes, you can, as a student, you can run pos business, food, laundry, and social media management jobs while in school

3. Which Small Business Can I Start With Under ₦20,000?

You can start content creation, fruit business, etc

Conclusion

To start any of these small businesses, you don’t need to figure everything out first. You can start small and scale the business over time. These businesses are profitable and scalable, you can choose one, do your research on what customers want and start gradually.

It is advisable to choose a business you are passionate about or that aligns with the skills you already have and grow them.