While talking about businesses in Nigeria, a lot of people literally have the entrepreneurial skills to commercialize a lot of things, but the raising of capital has been the major challenge faced so far by most people. If you really have some savings in your bank account, you can invest with that into a profitable business.
If you have up to N200,000 in a savings account and just want to start an entrepreneurial business with that amount, I’ll be giving you some business ideas you can choose from while investment continues as the business grows.
What Business Can I Do With 200 000 Naira In Nigeria?
In this article, I’ll be talking about some solid businesses you can do with N200,000 and you’ll be implementing specific marketing strategies to that business in order to step up on time.
Here are some business ideas you can grab while planning to invest a sum of N200,000 into business:
- Start selling building materials
- Apply as a distributor to paint Producing Factories
- Invest in a recharge card printing business
- Open a standard bookshop
- Resell used and brand-new refrigerators
- Start cooking equipment rental business
Start Selling Building Materials In Nigeria
This is a lucrative entrepreneurial business that has helped a lot of people become silent millionaires in Nigeria. As the need for building materials is increasing in Nigeria daily, the business is waxing stronger and profit is being maximized.
Building materials sell fast in Nigeria as nobody wants to remain a tenant for a long time. Some of the building materials that sell like hot cakes include:
- Head pan
- Bags of cement
- Metal sheets
- Hammer and nails
- Keys and padlocks
- Water closet
- Kitchen water basin
- Water tanks
- Other plumbing materials such as taps, plastic and metal pipes.
This is one of the lucrative businesses which most Nigerians don’t pay attention to. With a reasonable amount, you can set up the business properly, and, within a few months of starting up, becoming successful is guaranteed.
Apply as a Distributor to Paint Producing Factories In Nigeria
Are you aware that vacancies exist for prospective distributors at paint manufacturing companies in Nigeria? If interested, why not walk into any of the paint producing factories near you. You’ll be given the guidelines on what to do next to become a major or minor distributor.
The paint distribution business is such a lucrative entrepreneurial business and it guarantees high profit potentials. It sells fast in market as the product is highly demanding.
One of the benefits in venturing into this business is that you may eventually become a local paint producer and increase your business profits. By the time you start producing on your own, you’ll see more profit potentials in the business.
While earning commissions in distributing for a company, producing locally alongside is equally feasible and you’ll be making the most out of the business. Before you choose which company to distribute for, you need to find out which of the companies is/are giving the best commission rates.
Invest in a Recharge Card Printing Business In Nigeria
If you’re interested in printing recharge cards, don’t hesitate taking a drastic step in earnest. It’s one of the most profitable businesses you can invest your N200,000 with in Nigeria. Though the profit on each card is pretty low, ranging between N10-N15 profit per card, lots of cards are sold out every day because so many people make several calls, send text messages and buy data subscriptions daily.
Checking out the profit potential in printing and selling recharge cards is worth it if you really want to venture into the business.
With N200,000, starting on a medium scale is guaranteed. Though you may not be able to become a major distributor for the telecommunication companies in Nigeria with that amount, you can at least start with the printing. N200,000 would be sufficient to start printing vouchers from the comfort of your home and you’ll earn cool and legitimate money.
Open a Standard Bookshop In Nigeria
Whether you’ve worked in a bookstore or not, you can invest into this business with your N200,000 and you’ll be expanding as time rolls by.
To make the most out of the business, you’ll have to visit the schools to find out which books are trending. Schools use the national curriculum to prepare their schemes of work and there are certain reference books that have been chosen for each of the classes. So, getting familiar with schools and the recommended materials will help you set up your bookstore business profitably.
When parents visit your bookstore to get the reference books recommended for their wards in school, and they always find whatever they’re looking for in your bookstore, they won’t hesitate to continue patronizing your shop.
Resell Used and Brand-New Refrigerators In Nigeria
This is another entrepreneurial business that most people don’t focus upon in Nigeria, whereas, the profit potential is worth it.
With a N200,000 capital base, you can order a certain number of clean fridges and deep freezers to set up the business. Having got a suitable business location, you may have to employ two workers; one of which must have received training on repair of faulty refrigerators.
When people demand for used freezers, they’ll get varieties to select from and when brand-new ones are demanded for, they will always get it at your shop.
In addition to selling these tangible items, repair services should be added to expand the business. When customers know that they can bring their freezers and fridges for repairs whenever any fault is noticed, they’ll be rest assured to concentrate on patronizing your business from time to time.
Start Cooking Equipment Rental Business In Nigeria
Several people make use of the various cooking utensils and equipment at their numerous occasions and, thus, rent the equipment to be used for a day or two. Some of the equipment/utensils rented for occasions include stock pots, big metal pots (Size 40), metal and plastic spoons, plates, glass cups, big coolers, servers, and lots more.
If interested, you can set up the business with a N200,000 capital base. You’ll recover your capital back in a few weeks or months depending on how well you can create business connections.