Are you a young school graduate and you are looking to start a business with no idea for the right business to start? Do you have a little capital but can’t come up or settle on a business to invest in? Well, if you are one of those, then here are soon a few ideas to help with that. We are kick starting this blog with a list of Businesses one can start with about ₦1 Million and earn up to ₦300,000 as monthly earning in Nigeria.
With the right mind set, capital and good location, these businesses could turn your financial situation around. I have tested a couple of few, and I can tell you that if properly done, you could be on your way to financial freedom. With wasting your time, here are some of the business ideas to start with ₦1 Million that pays up to ₦300,000 in Nigeria.
Top 5 Business To Start With ₦1 Million In Nigeria
Phone Accessories:
This is my personal favorite and one of the most lucrative businesses you can start with just ₦1 Million and it pays well. If you can get a very busy spot in your location, try getting a shop around that area. If you can’t get a shop, then try getting something mobile like a wheelbarrow. Next is to look for a supplier nearer to you. Then focus on phone chargers, screen protectors, cords, headset, earbuds, earpiece and powerbanks. These are some of the fastest selling items you can focus on.
From my experience, you can get Android phone chargers for as low as ₦2500 and sell for around ₦4000. The iPhone and type C chargers cost around ₦4000 and you can sell for around ₦6000 to ₦8000. The screen protectors cost between ₦200 to ₦300 and you can sell for around ₦1000. For the powerbanks, you can get the 20000mAh for around ₦11000 and sell for around ₦15000 to ₦18000. These items sell faster and the profit can earn you a living.
Phone Parts:
This is another great business that cost less to start and profitable too. You can start this business with as low as ₦1000,000 and earn a living from it. Starting this business requires you to get a shop around phone repairers. If you are lucky to get a shop around phone repairers, then locate someone that you can buy phone screens, for backs and baterries from.
Some of the phone screen cost between ₦8000 to ₦13000 and you can sell them to make a profit of around ₦1000 to ₦2000. The Samsung and iPhone screen are more profitable. Sell those can make you around ₦5000 as profit. For the phone backs, you can get it for around ₦1500 and sell for around ₦2500, while for the batteries, you can get a nokia battery for ₦1500 and sell for around ₦3000. For the Android, you can get some for ₦3000 and sell for around ₦7000. The only downside of this business, is that you need to be around phone repairers to take adventage of this business.
SIM Registation:
While this may not be capital intensive like the others about, sim registration is another good business one can invest in and make a living from. All you need is get a place you can learning it from and after learning, get a very busy location and tools to start you business. While doing the registration, you can also sell things like routers and small button phones. You can also do downloading and selling of memory / SDcards. This if properly done, can make you close to ₦300,000 monthly.
Sales Of Beats And Rechargable Fans:
Selling of beats, rechargable fans and light is one great business idea if someone looking to start a business with limited capital. It doesn’t cost much and it is something you can sell everyday to make profit. With the poor power situation in the country, many Nigerians are searching for cheap and alternative means to power supplier. One way out is the sales of rechargable fans and light. You can take adventage of this by investing in this business. With as low as ₦1 Million, you can start this business and make a living off it.
Mini Bar:
The last business idea on this list, is the Mini Bar. This business requires a good and condusive location were people can drink and enjoy themselfs. What you need is a refrigerator, drinks and a generator for stedy power supply. With those, you can make a good source of income.
Conclusion:
Above are some of the list of business one can start with around ₦1 Million and make around ₦300,000 as a monthly income. If you find this post useful and you have a contribution, kindly comment below.
