What business to start? This is a hot question! Very Often we are not satisfied with our 9 to 5 jobs because we know that we have more potential and probably the job environment will not allow us develop and grow this potential. And maybe the salary we earn is not actually sufficient to cover our expenses. These might be some reasons why you will begin to ponder with the idea to become an entrepreneur. You begin to search for business ideas that you can start with very little financial capital in Nigeria or wherever you live. I get you!
But now, what exactly can you start with very little funds?
I have dedicated an entire entrepreneurship FREE program called – the 6 key foundation milestones, exactly to help you develop an idea into a business venture. You can visit the program to see the curriculum and understand what you can learn. In this blog, I will list 10 different business ideas you can start with very little money. I will also explain 5 out of them in this blog that you can start in any African country with less than 100K Nigerian Naira. 100K Naira is equivalent to about 250 dollars, which is basically not a very high financial capital to start. Students who have completed any paid program on our platform can also access this kind of capital to start their idea.
Here are 10 business ideas to consider when looking for a business to start with little capital. We will release concrete courses and tutorials on how to start with these ideas.
- Shawama business.
- Food stuff delivery service business.
- Affiliate marketing.
- Direct sales business.
- Dropshipping business.
- Soap production and retail business
- Content marketing business.
- Perfume production business.
- Fashion production business.
- Fashion retail business.
- Digital content creation business.
- Marmalade production business.
- Jewellery production business.
- Portable furniture retail business.
I release multiple blogs every week about starting, building and growing your business in Africa. If you want to keep updated and get new ideas as well as our support, then I suggest you subscribe to our business blog. The issue about having little financial resources to start an idea is a very prominent topic. But I must tell you that, very often you do not need so much money to start off with your idea, if you take the time to actually plan how to start. This is the foundation to any successful business and this is exactly what we teach in our FREE 6 key program.
Good, so let’s dive into 5 of these business ideas.
I am not talking about some kind of no-fragrance soap. I am talking about luxury soap with a yummy appearance – just that you cannot eat it:-). The equipments, work tools and materials for making a soap are not so expensive. The first thing you will need to do here is to educate yourself further about soap making, create a business plan and decide what which niche you want to serve.
In soap making, you can strictly decide to serve cooperate clients like hotels and restaurants or you develop a retail brand of soap you sell strictly to smaller retailers. You can decide to go into direct to customer selling which is very time intensive.I always advice my students to choose between focusing on production or focusing on retailing. Doing both is possible but it will not allow you grow fast into a world-class business. I will expand on these selling strategies in future blogs, tutorials, courses and in my upcoming life conference in Lagos, Nigeria.
Food stuff delivery service business
As Africas population begin to grow massively, migration from rural areas to urban areas is increasing. What does this mean for you as an entrepreneur? We have seen this happen in Europe. People begin to live very fast lives and are disconnected to healthy source of food. Soon health issues increases and people then get conscious about what they eat. This would happen in Africa soon. So now, you have the opportunity to build a fresh business idea by connecting local farmers to the urban areas.
You can start this business by targeting white collar professionals who have no nanny nor do they have time to go shopping for very good products. You can extend it to business clients such as hotel restaurants and joints. There are many strategie to start this business. If you want to learn more, remember to join our program.
Affiliate marketing or direct sales business.
The concept of direct selling is not new to Africans at all. Actually it is laid in our DNA. Remember those ladies selling clothes on campus? Or that your mums friend selling Ankara fabric to her friends, including your mother? Remember Aso-ebi? Global brands like Tupperware and Avon have long mastered this business and are multi-million dollar companies.
They offer customers the opportunity to build a network and sell the products. The advantage here is that you are showered with amazing tools and selling techniques. The cost to start is very little. So you can primarily learn from them and build your network of direct selling with local products from producers within your country. With some great communication skills you can select a good number of unique products to sell to your network. If you intend to explore or learn more about this business, then be sure to join our 6 Key audio program where we will help you build your business idea.
Perfume production business
This business requires basic chemistry knowledge though, but with a capital of less than 100K Naira, you are good to go. If you do your homework, meaning educate yourself more about the art and chemistry of perfume making and you have the right product and packaging, you can target high class professionals like bankers, marketers and other service professional, because they just “need” to smell good, right?
Like I mentioned, packaging is key in this business. If you are interested in this business idea, you can enrol for our upcoming tutorial on “Branding with packaging design” to learn more on how to develop the right concept for your idea. Even due to the fact that perfumes have a very long shave life, meaning they do not get spoilt easily, you can quickly grow this business into an exportation business. It is always safer to have one product line and make sure it reaches more customers around the world than to expand to many product line in the same location. I will explain why in upcoming tutorials and my free weekly videos.
Fashion retail business
Ok, this is a business where I have 100% experience as I launched my own fashion production and retail business in 2014. You can visit the online store to see some of our products. In this sector, you have so many option and mind you, Africa is a massive market. When I view fashion as a business, I am in no way referring to high-end fashion or what they call “Haute Couture”. That is not where the big money is. Look at brands like Zara, H&M, Mango, Asos and such. Although I do not recommend their some of their business ethics, it is clear that these retail houses are leading when it comes to fashion and you know why? Because they discovered and focused on the mass market.
So you as an aspiring entrepreneur in Africa, where the mass market is massive like hell, I wonder why we do not have real big or multiple mass fashion retail brands. There is a way to start off your retails brand and grow it into a chain with very little cash. Start with a consistent pop-up plan in strategic locations and leverage the power of digital marketing. I am here to show you how this would work, but you must first work on creating a plan for this idea.
Conclusion – Its not all about cash, it is about if you know how to start!
There are more ideas and remember I only introduced 5 from 10 business ideas to start with less capital. I would love to share more but at the same time, I do not want this blog to be too long. Look out for upcoming blog content, courses, tutorials and life conventions. Thats where I will explore more ideas, show you how and also look for ventures to support on a long term.
Thank you so much for reading this very long blog. I know, it is long. Sorry jare (Nigerian slang), but I just felt it is important to share this knowledge for the common good. If you are really serious about starting up something soon, then be sure to join my program. I look forward to working with you soon.
Take care and cheers,