Entrepreneurship

7 Businesses you can start with little or no capital

Business Ideas

Business Ideas:

With unemployment ever on the rise and with no hope of solution coming very soon, sitting down and folding your hands or continuously scouting the streets for almost non-existent jobs may not be the right thing to do. It is high time you thought of re-positioning your life because if you don’t, nobody will do it for you. Here I have listed some profitable and yet easy businesses you can start in Nigeria with little or no capital.

2. Teaching a Skill
I am a strong advocate of the school of thought that says ‘nobody is completely useless.’ There must be something you are very good at; be it singing, dancing, painting, drawing, playing an instrument, repairs, driving, cooking, decoration, writing, mastery of a particular computer software, web designs and development etc. that people will love to learn from you.

Couple of months after my graduation from the university, I remember running a voice training class that sustained me till I was able to secure a job and steady means of income. All I did was place a notice inviting interested singers to sign up for my voice training class. I had three students for a start. Though the pay was never enough for me, at least it was better than nothing.

Find out what you are good at, then charge people to teach them that skill. You will be surprised at the amount of money you’ll wreck in doing what you’re good at and love doing. I know a bros who runs a football academy every long vacation after the third term. He charges about N1000 per child for the whole period of the holiday and you know what, with time, the turnout became massive that he had to run shifts and employed other people to work with him.

2. Selling online
You can make recurrent cash selling your products and services or helping people sell theirs. Where you don’t have any product of your own to sell, you can sell other people’s used or unwanted materials on Classified ads sites like OLX, JIJI, MOBOFREE, TRADESTABLE etc. You can charge a particular percentage as commission for helping them sell their items.

According to Lawal Kehinde of 9jaCashflow, this method gives him nothing less than N8,000 every Month. He said; “I charge an average of N1500 for each product that I’m helping people to sell and sometimes, I’m being given extra N500 for the kind did.”

3. Fixing Phone issues and Software Installation
There is high demand of certain services among smartphone users; such as restoring and updating phone software versions, backups and formatting, rooting and IMEI tweaking etc. I know some guys that charge as high as N3,000 to format or reset smartphones. With this basic skill you can start up a business before you know it. First, google or download tutorials on how to solve such problems and you are already on your way to making a living. You can even knock out the other guys by charging as low as N1,000.

You can expand your business in this area by making a large collection of songs, videos, applications etc. and have people pay you to get them on their devices. This is one strategy adopted by boys in Computer Village Lagos that our unemployed youths are yet to learn from. Many of these boys at Computer Village have no shops but are still able to make as much as N5,000 every day. If you can surf the net or you own a PC, this is a sure way to put you device to profitable use other than only watching videos, playing games and entertaining yourself with them.

This business can be highly lucrative regardless of the fact that it requires little or no capital. Trust me, if you’re thinking what I’m thinking, you can start making money today.

4. Tutorial services
It should not be news that exams like UTME, WAEC, GCE, NECO, NECO GCE, POST UTME etc. are always around the corner and candidates of these exams always require one form of assistance or the other in other to prepare for the exams. If you are knowledgeable in one or more subjects, you can offer to prepare students for exams in your subject area.

If you are an English Language teacher for instance, you can put up notices, offering to teach students the subject. You can offer to teach them in their homes or have them gather at a particular place. You can also partner with schools and other subject teachers to startup a full tutorial centre.

In case you may want to ask, how do I know that this business pays? In 2014, I resigned from Golden Crown Academy; Ipaja Lagos as Administrative Principal and English Language teacher to start my own tutorial centre, FirstClass Tutorial College and to my utmost amazement, many schools eager to increase their visibility welcomed us to use their facilities in exchange for a monthly pay. As the school grew, I employed six other teachers to work with me. It was until March 2016 that I moved on to a more paying job, leaving the school under the care of my staff. As I write this piece, FirstClass Tutorial College still runs.

The point is that if you are good at what you are doing, growing in this business will be easy, as students who are impressed with your service will refer their friends. Again, these exams spread across different months of the year, a guarantee that you will always be in business. There is never a limit to what you can achieve running this cool business. You can even grow to include different sessions and different programmes like TOEFL, IGSCE, SAT I and II etc. Preparatory classes for these international exams are always in high demand. You can better still, grow your little venture into a full blown school. There is one thing you may not know; many of the private schools you know today started first as tutorial centres.

5. Webs/Blogging
Blogging is one of the easiest ways to make money online while at the same time having fun. You as likely as not love to browse. Don’t you? You can actually make money surfing the web. Linda Ikeji, the highest paid blogger in Nigeria and her likes got to where they are today by blogging. For instance, if you love photography, you can create a blog where you post timely information about photography.

With time traffic on your site will rise, making it a veritable avenue for advertising. There are different ways to monetize your blog but time will fail me to discuss them all under this post. However I promise a whole post of its own ‘Blog Monetization Secrets.’ Be the first to know when it drops by subscribing to our blog.

6. Social media strategising
You know, in today’s computerized world, ‘little things’ could be opportunities that could fetch one lots of money. One of such ‘little things’ is ‘surfing the net’. Among the numerous opportunities the internet has to offer is managing social media accounts for companies. Many big companies employ high profile social media managers they pay thousands of Naira per month. What about small companies? Many small companies have dormant websites, blogs and social media accounts and as such are not able to engage their customers. They can’t afford to employ a social media manager or use digital marketing software.

Now that there is a problem, you can be paid to provide this service to small and medium scale companies. All you need is to love social media, know the tricks for establishing brand presence on social media and be willing to learn something new. The company either provides their content or you can be paid extra to create content for them. You will help them post and share contents, as well as engage their customers online, thereby creating a strong brand presence for them.

How do I start? Now that you are asking, all you need is to acquire the skill of Social Media Strategising and this information is already available on net free of charge. After acquiring the necessary skills, you can go ahead and submit proposals to businesses around you, convincing them of what you can do. You only need at least one client to start with.

7. Laundry Services
With ever increasing schedules, many people don’t have time to wash their clothes, and they won’t mind paying others to do it for them. Instead of not having something to do, running a laundry service may be your starting point towards owning your own business. You do not even need an office space, washing machines or huge capital to start.

All you need is washing and ironing and folding skills. You can start from your home and branch out later. Create small adverts and place then around. You can even integrate the extra service of picking the clothes from your clients and delivering it to their homes. This will give you a head start over other competitors who just sit in their offices and wait for customers to come to them.

This brings to mind the case of a laundry boy who used to wash my clothes. He walked up to me in the street, handed me an A6 – size flyer, introducing that he could wash my clothes. To be sincere, I didn’t trust him enough that the first clothes I gave him were those that I barely wore. At least I wouldn’t have anything to lose in case he didn’t return them, but lo and behold, he returned them the next day and they looked newer. From that day he handled all my laundry till he gained admission into the university.

To sum it up, there are more businesses beside these seven, that one can start with little or no capital. All it requires is for you to study your environment and identify needs that you can satisfy. Being wealthy in life comes from being able to satisfy a need.

So identify a problem and solve it. Whatever skill or talent you have is a powerful tool for you to create wealth, only if you can put them to profitable use. And may I also add that while it may be good to do things for the fun of it, just know that any skill that cannot put money in your pocket is as good as useless.

Kindly comment other businesses you know that one can start with little or no capital on the comment section below. Be the first to know when posts like this drops by subscribing to our blog today.

Read also:

5 Business Ideas to earn money online
How you are not using the social media to your advantage

Visit our main site, Ogamars.com

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1 Comment

1 Comment

  1. Ogamars

    February 1, 2017 at 10:19 am

    In addition, with over 170 million people in Nigeria, you have a ready market to sell your products and services to. All you need is think of an IDEA, PLAN and take ACTION.

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