10 Small Businesses You Can Start With Little Or No Capital
Have a great idea but very little money? Don’t let that stop you! Yes, there will be ridiculously long days with little to no sleep. Yes, you are going to be stressed. But those that want it bad enough will make it. Here are ten tips that can help you get your idea off the ground with limited funds.
1. Consultancy Services
This is the foremost of the small businesses one could ever think of; one can basically consult on almost anything and everything. Just think of any special skill in your possession and pronto, you can make a reasonable income from it. E.g. marriage counseling, business consult, legal consult, property consultancy, educational consulting, media consultant, etc. One do not have to possess any capital to start consulting, just some contacts on your phone, email addresses and referrals from family and friends, you are good to go.
2.Restaurant
No matter how poor people may be, food still remains the number one basic necessities of life before clothing and shelter. If you can do it right, it’s one of the surest way to crossing the poverty line. If you are still in doubt, please visit Equal Right in Somolu, Amala Sonola in ogba Aguda, Ewa-Agonyin(Beans) palace in Unilag etc. With a capital between N10K – N50k, you should be making a residual income from it.
3. Fashion and Tailoring Services
From time immemorial fashion business has been dynamic and ever present. From Paris to New-York, Milan to Lagos, Beijing to Joburg, fashion statements defies national/ethnic boundaries. Different occasions demand special outfits, one can easily take advantage of the trend in fashion consciousness of the people to earn a decent living. You can start with as little as N30K-N100K.
4. Real Estate Agency
By finding properties for prospective clients, you perform a valuable service to both owner of properties and prospective tenants. Advertise that you have listings available for houses, apartments, flats, rooms, offices, etc. You can either charge a one-time fee for finding accommodations or work on a commission. In this line of business, capital or professional qualification is not really required as a start-up, you can belong to groups in the real estate NICHE or get briefs from family and friends, just have the right information and you will always smile to the bank. In addition, you can also be a property manager to your clients and earn steady income from management fees.
5. Rental Business
This has mushroomed into an attractive new business opportunity. People like to borrow, do-it-yourself rent professional equipment. Many people are doing well these days by acting as rental agents for all manner of things – power tools, trucks, cars, electric generators, etc. Just look around your environment and conduct a research on items that could be of rental value to your community. For example, if you live in an area where property development is just springing up, you can decide to venture into giving out building tools such as, wheel-barrow, head-pan, shovel, trowels, drums, ladders, scaffolding, sledge hammers, pick-up trucks, etc.
6. Laundry/Ironing Service /Clothes Cleaning
Everyone has dirty clothes for laundry and ironing, but many working class and career individuals do not have the time to tend to their laundry themselves because of the busy schedule of work or business, this is where you would come in and make money by doing a professional laundry service, especially in areas where power supply is erratic. If your backyard/compound is spacious enough to accommodate washer-men and pressers who will do justice to the clothes, hire them and start making money, This business could just be for you if you have a knack for cleanliness and corporate cleaning services. With a capital between N20K – N100K this business could turn you to a millionaire over a period of time.
7. House Cleaning Service
Many home-owners and apartment dwellers will welcome help at “house cleaning’. Charge a flat fee for the amount of work that must be done. Make arrangements with firms that provide labour for tidying up office environment , cleaning carpets, dusting the furnitures, polishing, etc. and collect a commission from them. Tell your friends and family who are moving to a new house or changing offices, with the help of fliers or handbills you could reach out to a large audience.
8. Make and Sell Customized Jewelleries And Beads
Homemade costume jewellery sells, sell directly to jewellery outlets, gift shops, hairdressers shops, clothes boutiques, and by selling on e-commerce shops such as Jumia, Konga, Payporte, OLX, Facebook Shopify, Gtbank smemarkethub, etc. It is possible to start with limited capital of N5K- N20k.
9. Game Centers
The game center concept is good, both for those who have jobs and those who want full time involvement. A game center is a place where people mostly young come to play computer basic games like play station, Nintendo, Atari, etc. You can also provide space for refreshments like ice cream, snacks, soft drinks etc. Gaming centers charge customers who come to their outlet between N100.00 – N500.00 depending on the area, and the type of customers you are dealing with. If you start small, you can make between N5k – N20k per day. There is a classical game center at Mende by Maryland, it is built with a portal cabin and looks beautiful as well. You can as well provide a MOBILE GAME cabin for birthdays and get-together parties, this arrangement can fetch you good money if you get high-end clients in areas such Ikoyi,V.I, Lekki, Ikeja G.R.A, etc.
10. Fish Farming
If you have been contemplating on a small business and haven’t heard about fish farming, then you are missing something. Over the years, quite a few people have made fortunes from fish farming; as the population is swelling and protein needs are far outstripping the available supply, fish meal is always a winner if done well. Fish farming is a sure bet business if you put the right structures in place. More and more people like fish due to its low cholesterol protein, All you need do is to get a space, buy or construct tanks, buy finger lings for between N10 to N20 and feed them for 4 to 6 months, then sell from between N1500 to N2000 depending on weight and size. But you need to have a basic knowledge of fish farming to start thiae4
