Looking for the best business plan ideas with 100k in Nigeria in 2020 and beyond? Research as shown that there is no better time to start a business than when the economy is going through a downturn. One amazing fact is that you do not need a heavy capital to successfully run a small scale business in Nigeria. All you need is a practical and profitable idea that can be implemented.
If you possess the right drive, hunger and passion for business, you would effortlessly turn your side hustle/ business to an enterprise/group. Technology has greatly simplified the cost of starting a business. I would be sharing with you 10 business plan ideas with 100k and 10 business ideas with low capital. You do not have to break a bank or rent space before you can execute.
10 GREAT BUSINESS IDEAS WITH LOW CAPITAL
1. Working with Uber has a Driver
The freedom and financial independence that driving for Uber gives cannot be overlooked. If you love to drive, own or have access to a car and you want to work on your terms and earn while at it, Uber is all you need. Uber drivers have been said to make an average of N100,000/week. That’s quite a lucrative business. The non-restrictiveness of the business makes you the boss of your own.
2. Social Media/Influencer Marketing
Social Media platforms- Instagram, Facebook, YouTube etc have fast become business ventures for those who understand how it works. Creating your own loyal followers via sharing original and engaging content can fatten your bank account beyond your expectation. With brands looking for prominent/popular third-party validation for their product or services, you can charge as much as you want, depending on the number of followers you have to promote their products or influence your followers to patronize them or even become their brand ambassador.
So, if you are a content creator or love social media, there would be a place for you in one or more of the platforms.
3. Web Design and Development
With every brand/organization needing a website that houses their information, web design and development skill is a hot cake, lucrative skill in Nigeria. With free tools like WordPress, you can learn how to create websites in a few weeks and charge between N100, 000- N500,000 for your services. If you are looking for a great corporate environment to improve your web design skills, Andela is the place for you.
4. Graphic Design
Though being a graphic designer requires experience and a fantastic portfolio, one can still learn its rudiment with Adobe Illustrator and Photoshop. While learning, it would be smart to share your work on social media platforms such as Instagram and Facebook. This does not only help publicize your work but over time, help you acquire new customers.
5. Freelance Content Development/ Ghost Writer
If you are good with words and writing, working as a freelance writer can be a full or side job for you. This skill is very needed in organizations right now. With this skill needed for advertisement, social media campaigns, websites etc, agencies, corporate organizations, even SMEs are on the lookout. Some of these target markets would only need your editing and proofreading services. Still, it’s advisable to consider how much work one can correctly do before taking it as a full-time job.
6. Starting a Blog or Vlog
Flash news! Blogging is not a stale business. It is raking as much as the above-listed business. Whether blogging or vlogging, you need to create a niche for yourself and have a target audience. You could decide to be a professional at food reviews, food cooking, diet, fashion, lifestyle, dogs, gardening etc, the list is endless. To be a blogger, it is necessary to sharpen your writing skill and understand what your audience wants or expects. For Vlogging, it is necessary that your speaking skill be topnotch. Learn how to articulate and express yourself. Soon, you will be smiling to your bank account.
7. Cake and Cupcake Bakery
Your baking hobby can become the mainstream of income for you. Baking and decorating cakes or cupcakes for occasions such as birthdays, weddings, anniversaries etc can be a very profitable business if well executed. It can be started off on a small budget with one’s kitchen as the bakery. Strategies can be built to market and acquire customers. However, social media is great leverage for this – with its infused marketing/promotion button and the right use of hashtags, your business should boom. One can send tasting samples to targeted audiences. Download this bakery business plan to get started.
8. Small Chops Food Business
The high demand for light refreshment especially at events in recent times has opened a market for the small chops food business. Asides from events like weddings, funerals, landmark birthday celebration needing this product/service, it’s also in high demand in picnics, get together, naming etc. Though there is a large room for competition, the demand would always shelve this to equal proportion so that every small chops business gets their share of the target market. Still, creativity, great customer service and packaging can stand a small chops food business out from the rest.
9. Digital Marketing Agency
With the presence of digitalization at virtually every front, digital marketing has become a necessity. A digital marketing agency stands apart from a traditional marketing agency. Their services are precise, targeted, results-based, measurable and greatly rely on ROI. The need for digital marketing services has increased the number of agencies in the field. Still, it is a lucrative business that does not require heavy capital. With a good experience in the digital marketing industry and the technical know-how on how to deliver results to clients, profitability is
non-negotiable. Get an affordable digital marketing plan here.
Like the others listed above, Drop Shipping does not require loans from the bank or heavy capital for investment. However, it is necessary to have an online store and this can be gotten with any social media platform of your choice – Facebook, Twitter etc. It is also necessary to have an internet-enabled device (smartphone or laptop) to access your shop and orders. This profitable business requires research of items needed in an area per time and knowing where
to source for it (Ali Express is a good start to getting these items). Millions of naira can be made from this business if one gives it time and good effort.
There you have it, the best business plan ideas with 100k in Nigeria. Every business idea with low capital listed above are viable and can earn you a decent profit especially in Nigeria. However, to excel in any of these businesses, one must have the right mindset, great strategies and ideas that can grow the business. To acquire and retain customers, especially because of the level of competition nowadays, it is necessary to be able to market one’s self and the business aggressively to the general public.
How To Download A Business Plan Template PDF and Doc (with financial analysis)
In case you need the complete business plan for any of the businesses, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the business plan in Nigeria to your email address where you can easily download it.