Business to Start with 500k in Nigeria

Business to Start with 500k in Nigeria? keep scrolling!

Nigeria is a country where it is very necessary to be financially independent. This is because the state of the economy in the country is not helping a lot of people.

The rate at which there is unemployment in the country is quite alarming and it has contributed highly to the level of crime and corruption in the country.

Millions of Nigerian youth graduate from University every year with no hope for a proper employment and income.

One thing to do if you know you want to be financially independent in this country is to start a business.

If you are currently wondering what business you can set up with as an aspiring entrepreneur, you will get a detailed answer as we will be giving a list of lucrative and profitable business to start with 500k in Nigeria.

There are a lot of business you can start with 500k in Nigeria but before we proceed, I would love to advice you that you will not start making the millions as profit overnight and your customers are not just going to skyrocket to tens of thousands immediately either.

There is a process to everything and in this case it is called growth, you have to nurture your business overtime till it reaches the stage where you begin to swim in millions of profit.

If you are ready to make yourself that boss entrepreneur, you can take a look at this amazing list of business to start with 500k in Nigeria.

List of Business to Start with 500k in Nigeria

Here is a list of business to start with 500k in Nigeria:

Mini Importation Business

I am well aware that some critical business necessitate millions of naira. But the mini importation business does not actually need millions to be established.

You just have to find a hot-selling product to sell and acquire the items locally or internationally which is one of the most difficult challenges. 

Even so, a quick Google search will yield a comprehensive list of international shopping centers where you can shop, buy, and import into Nigeria.

POS Business

This is a perfect business to start with 500k in Nigeria.

The POS business is also among the best business to start with 500k. You can easily set a POS business with 500k or even less than that.

Even though there are lot of people who have a POS business already, you can still make your profit once you get to discover a favorable location to set up.

This business is very promising because you don’t need a special kind of professionalism to start and also not everyone has the patience to go and queue so as to withdrew from the ATM machine.

So, most people want to save their time so the charges to ask for in return for saving them time and energy is something they are always willing to pay. 

Start a General Merchandise Business Center

This is another perfect business to start with 500k in Nigeria.

All you have to do is to locate a suitable location and open up a general merchandise business center where you can sell .

You can go into partnership with multichoice to make sales while subscribing to people GOTV, Startimes, DStv and so on. 

You can also go into partnership with the network providers which includes AIRTEL, GLO, MTN and 9Mobile to help them distribute and sell airtime both in bulk and in units..

SME data plans can be sold and be you can also add the sales of phone accessories including chargers, earphones and so ok to enhance you sales.

Cooking Gas Business

Another profitable business you can start with 500k in Nigeria is setting up a cooking Gas distribution firm. You have to refill with an industrial had cylinder as a result of the high cost of LPG tank.

If you really want to make sales in this business, make sure you set up somewhere that is close to residential areas to ensure that your prospective customers will be able to easily locate and patronize you.

I would advice that you make sure precautions are in placed in case of fire outbreak that can occur if gas leaks by mistake.

If you are ready to start, the first thing you need to do is to obtain a permit from the Department of petroleum resources ( DPR). Once you are given this permission, you are good to go.

Conclusion 

In conclusion, Business to Start with 500k in Nigeria, but you need to do your background research before finally choosing which one will work best for you. 

Remember, little drops of water make an ocean, so once you start, be patient and trust the process and you will see that everything will turn out well for you financially.

Leave a Comment