Which business should you start? This is a hot question! We’re often unhappy with our 9-5 jobs because we know we have more potential, and the work environment is unlikely to help us develop and grow that potential. And maybe the salary we earn isn’t enough to cover our expenses. Or maybe you want new challenges and know in your heart that you want to achieve bigger things. Maybe these are reasons why you will start looking for business ideas with less capital or very little financial capital in Nigeria or wherever you live. And port!
But now, what exactly can you start with very few funds?
In this blog I will name ten different business ideas that you can start with very little money. I will also tell you about five of these blogs that you can start in any African country with less than 100,000 Nigerian naira. 100K Naira equates to about $ 250, which is not really a very high financial capital.
Here are ten business ideas to keep in mind when looking for a low-capital business.
1. Soap does business.
2. Food delivery services.
3. Affiliate marketing or direct sales.
4. Perfume production activity.
5. Fashion production company.
6. Fashion retail companies.
7. Digital content creation.
8. Jam production activity.
9. Jewelry production activity.
10. Retail companies of portable furniture.
But I have to tell you that you often don’t need that much money to get started with your idea, if you take the time to plan how to get started.
So, bottom line is that we're looking at 5 of these business ideas.
1. Making soaps
I'm not talking about a kind of non-fragrant soap. I'm talking about luxury soap with a nice look, only you can not eat :-) The equipment, tools and materials for making soap are not so expensive. The first thing you need to do here is learn more about soap making, craft a business plan, and decide which niche you want to serve.
In soap making, you can decide to strictly serve cooperating customers, such as hotels and restaurants, or develop a branded soap that you sell strictly to smaller retailers. You may decide to go straight to customer sales, which are time consuming. I always advise my students to choose between focusing on production or concentrating on retail. Doing both is possible, but it won’t allow you to grow quickly in a world-class business.
2. Food delivery services
As Africa’s population begins to grow massively, migration from rural to urban areas increases. What does this mean for you as an entrepreneur? We have seen this happen in Europe. People start living very quickly and disconnect from a healthy food source. Health problems soon increase and people realize what they are eating. That would happen soon in Africa. So now you have the opportunity to create a fresh business idea by connecting local farmers with urban areas.
3. Affiliate marketing or direct sales.
The concept of direct selling is nothing new to Africans. In fact, it was in our DNA. Remember the ladies who sell clothes on campus? Or that your mother’s girlfriend sells Ankara fabric to her friends, including your mother? Remember Aso-ebi? Global brands like Tupperware and Avon have long dominated this business and are multi-million dollar companies.
It offers customers the opportunity to build a network and sell products. The advantage is that you are sitting with amazing sales tools and techniques. The cost to get started is very low. Therefore, you can learn from it and create your direct sales network with local products from producers in your country. With good communication skills, you can choose from several unique products to sell on your network.
4. Perfume production activity
This company requires basic knowledge of chemistry, but with a capital of less than 100,000 Naira, you should go there. If you do housework, which means you have to learn more about the art and chemistry of making perfumes and you have the right product and packaging, you can hire professionals like bankers, salespeople and other professionals, because they just need to smell. well, right?
As I mentioned, packaging is the most important part of this business. If you are interested in this business idea, you can sign up for our upcoming “Branding with Packaging Design” tutorial for more information on how you can develop the right concept for your idea. Even with the fact that the perfume has a very long shaving time, which means that it is not easily damaged, you can quickly turn this business into an export business. It’s always safer to have a range of products and make sure you reach more customers around the world than to expand to many products in one place.
5. Fashion retail companies
In this sector you have so many possibilities and think about it: Africa is a massive market. When I consider fashion as a business, I don’t mean any fashion at all or what they call “Haute Couture”. This is not where the big money lies. Look at brands like Zara, H&M, Mango, Asos, Blackadudu, and more. While I don’t recommend a bit of their business ethics, it’s clear that these retail homes are at the forefront of fashion, and you know why? Because they discovered and focused on the mass market.
So as an aspiring entrepreneur in Africa, where the mass market is as big as hell, I wonder why we don’t have real big or multiple brands in the fashion market. There's a way to sell your brand and expand it to a chain with very little cash. Start with an emerging plan consisting of strategic locations and harness the power of digital marketing. I’m here to show you how it would work, but you must first work to create a plan for this idea.
Bottom line: it's not just about cash; it is if you know how to start!
There are more ideas and remember I only entered five out of 10 business ideas to start with less capital. I'd like to share more, but at the same time I don't want this blog to be too long. Stay tuned for upcoming blog content, courses, tutorials, and life conventions. This is where I will explore more ideas, show you how and also looking for companies to support in the long run.
Thank you so much for reading this long blog. I know, it’s long. I’m sorry but I just felt it was important to share that knowledge well.
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