Sometimes, what’s holding you back from starting that business or side hustle is not capital or harsh business conditions. Sometimes, it’s an idea you can work with, considering what you have. Something that you can easily get off the ground and start making money from.
Thankfully, we’ve done some research and identified some businesses you can start with as little as N25,000. Each of these businesses do not require a lot of equipment or technical knowledge and they are also in demand.
Here are five businesses you can start with N25,000:
- Influencer marketing
This is all about monetizing your social media presence – especially if you already have a large following or an engaged audience. If you have over 5000 followers on your social media accounts, you should start to look for brands you can help promote products or services for. As long as you have a means of creating engaging content, good internet and dedication, you’ll start making decent money in no time.
- Waste collection/removal
A few years ago, if you were on the Lagos – Ibadan Expressway, just after the long bridge if you’re coming from Lagos, a sign read: “Shit business is good business.” That billboard was on top a collection of mobile toilets. As long as you don’t mind getting your hands dirty, this is a very easy business to get off the ground. Figure out the fees at the landfill or find a vendor to sell it to – all you have to do is collect. It doesn’t matter how or where you collect the waste from. Even if you can’t do it yourself, you can hire some people and setup a profit share agreement with them. Go to surrounding neighbourhoods and tell them you’ll remove their waste for a fee. For an added bonus, you’ll also be doing the environment a great favor.
- Laundry service
For this business all you need is top-notch service and ease. There are a lot of people that will pay N10,000 per month for this service. All you have to do is pick up their items, clean them and deliver back. If you have 10 customers that’s easily N100,000 per month for a few days work. Focus on making your customer’s life easier and ensure that you don’t make mistakes with their clothing. WIth N25,000 you can get started on the basic things you need to get started.
- Cleaning services
One of our colleagues in the FairMoney office once said he pays the lady that cleans his one-bedroom apartment N5,000 twice a month. That’s N10,000 monthly for a few hours of work per month. If the house is bigger, you get paid more. And you can extend your cleaning services beyond just cleaning houses – you can offer to clean cars at a company car lot, for example. With less than N25,000 you can get started with the supplies you need and start talking to potential customers.
- Market research
This might be the easiest side business to start. All you need is a working computer and good internet. All across Nigeria, companies are constantly looking for data and information that may not be readily available to them – and they’ll pay good money to someone to help them find it. Go on LinkedIn and find the managers who can make decisions and offer your services to them. Or go to companies you know need a lot of market insight and offer to help them conduct research for a fee. In no time, you can become a big shot consultant – as long as you stay focused, dedicated and efficient in your work.
Naturally, there is a lot more that goes into turning a business idea into a successful one. As long as you stay knowledgeable and focus on solving whatever problems that may arise, you have a good chance of turning any of these ideas into good money makers. As always, when you win, we also win. To the moon!