As the realities of Nigeria’s economy dawns on many youths and citizens of the country in general, many are getting more interested in how to earn a little extra income.
We at Naija News believe no one would say no to a little extra cash.
Below are some small scale businesses that require very little capital to start and maintain and with due diligence, can be built into a big business empires.
1. Soap making business
This business requires adequate knowledge of chemicals which can be easily learnt in order to be successful. Liquid soap also enjoys a ready market as it is always in demand by restaurants, hotels, fast food joints, beer parlours and catering centres, as well as house holds and individuals.
It doesn’t require much space to set up.
2. Poultry farming
Poultry farming can be started with as little as 20-30 birds. Though the business could be seasonal if it is done with broilers,it could also be done all year round with the right market in place. Layers could also be introduced for egg production.
It requires space, water and personal care for the birds.
Starting with day old chicks, broilers can be ready for sale in just 9 weeks.
3. Sale of bottled drinks and sachet water
This is a very lucrative business that requires very little capital to set up. It could be started with as little as N10,000 to N20,000.
Location is however key in order to be successful in this business venture.
All that is needed is a cooler big enough to hold the products, an umbrella and probably a little signboard (which can be hand written).
Needless to say, there is need to keep the drinks chilled in order to keep customers interested.
4. Phone accessories/ recharge card business
Not every one can afford to go into the sale of phones, but the sale of its accessories is a venture that can easily be started with very little capital and no special training.
Accessories such as ear piece, phone cases, batteries, chargers, etc are always in demand by phone users.
Also, the sale of recharge cards irrespective of network service provider can be started. The two businesses can be combined within the same location, but location is key to being successful in this venture as well.
5. Pop corn production
Pop corn is one of the snacks that cut across social class, sex and many other barriers that other snacks may encounter.
To be successful, a good location with human traffic is needed, pop corn machine and good source of corn.
Other items which would be needed are butter, sugar, oil, salt and nylon.
For a start, it might not be compulsory to get a shop, a little space with a big umbrella should be enough to start the business.
Other worthy mentions are: football viewing centres, hair/barbing saloon, phone repair business, cooking gas sales, business centers, dry cleaning/laundry, fish farming, catering etc.