20 BUSINESSES YOU CAN START WITH N5000 AND BECOME A MILLIONAIRE IN 1 YEAR
20 Businesses You Can Start With N5000 And Become A Millionaire In 1 Year
A major problem with starting business these days is usually capital among so many aspiring entrepreneurs. They have the idea, but with no fund, it usually just ends there. An idea!
Friend, you don’t need money you need wisdom. While you’re waiting for capital to startup your dream business, why not start something small until you can raise enough money to fund your dream startup? Right? Don’t stay stuck and remain in a state of limbo, step out today and try your hands at something that might even become what you’ll be known and remembered for.
In this article today, I am going to share with you 20 businesses you can startup with N5000 and plunge into millions in a year. Yes, you heard right!
So if you’re ready, let’s countdown:
#20. Sell ebooks. You don’t even need any money to start selling ebooks, but at most N5000 should cover it, particularly if you can’t write and need to outsource the job to a freelancer.
Research on topics which are most trending in your chosen niche and such that can solve the problem if your target customers. Once you’ve identified great topics of interest, you can go ahead and write about them for introduction into the market.
There are tons of great online platforms out there that you can use in marketing your ebooks, including; Amazon, ebookit, and many others. Get your ebooks listed on their platforms and start earning. Your duty is to pursue rigorous marketing and continue to promote your ebooks. If you’ve got a website or blog, even better. This way you can blog about stuff relating to your ebooks and get an even bigger market.
Creating a website is quite inexpensive these days. If you want one, send a direct mail to email@example.com or call 08105636015 or 08076359735
#19. Catering services. A great way of making money in Nigeria today is through running a catering outfit.
Here’s how to start one with N5000:
- Print fliers with the N5000 or part of the money.
- Have it distributed in churches, schools, businesses, and homes around your neighborhood.
- Liaise with professional caterers around you.
- You get two or more jobs from your promotional efforts.
- Sub contract these jobs to the caterers you liaised with.
- Get the money and work out your profits.
- Reinvest the profit into promoting and advertising your business.
- Create an official website
- Continue working your way with more jobs
- Set quarterly targets for your business
- Within the year with much hard work and the Grace of God, you can launch your own professional catering outfit
- Write a business plan
- Start up fully and become a millionaire
#18. Private tutor. You could also venture into a business in academics. And with N5000 or less, you could be on your way to becoming a millionaire within a one-year period.
- Print fliers and prepare typewritten letters with your N5000
- Distribute it around the neighborhood of your target market, particularly to parents.
- As soon as you begin to receive jobs, outsource all of them to people who can teach on different subject areas ranging from; maths, English, music, ICT, fine arts, graphic design, programming, physics, chemistry, history, lit-in-english, French, Arabic, and a whole lot of other subjects
- Your major duty here is follow-up; to ensure effective delivery of services and intensive marketing
- Once you’ve established a steady clientele, you can include other services such as preparing students for all types of exams, including WAEC, NECO, JAMB, APTITUDE TESTS, SAT, TOEFL etc.
#17. Car drop taxi services. This business is just getting people to their destinations conveniently and is well suited for cities and commerce regions of town.
Now, to start up, simply print fliers and have them distributed around your target region. Again pay for classified ads on two or more newspapers.
Have freelance drivers ready for hiring. Once you get jobs, just go and rent cars according to the number of jobs received, use the money you got from your clients to pay for renting cars. And then after the completion of the job, you pay the freelancers and get your own share.
This is not film trick, it’s you enriching yourself by meeting people’s transportation needs. Quite simple.
This business is a money machine, particularly in busy cities and airport regions. So long as you keep things professional and stay smart, within a year you can definitely have one or more vehicles of your own.
#16. Bleach and stain removal production. With N5000 or less, pick up the chemicals used for bleach production. So many manuals and online tutorials are available for you to use in making your products. The first most important thing is that you find ways of producing stain removing mixtures that can be used to remove all sorts of stains including, mucor, ink etc. Once this is done, get them supplied for free to as many dry cleaning shops as possible. Ask them for business. Offer to supply them with bleach and stain removal products for a wide range of stains, for much cheaper and with higher quality. You will definitely get contracts. Start working hard to improve your product quality to suit your customers’ needs. Next, you should consider registering and packaging your products. Remember: packaging is everything. Get your products approved by NAFDAC, and bingo! You could start a small bleach making and stain removal company within the year. Grow your client/customer base furiously and you’re on your way to becoming a millionaire in a space of one year with God on your side.
Watch this video on Applyingfor $5000 of Tony Elumelu Grant, the mother of Grants in Africa. https://youtu.be/jyjhw0-LSa4
#15. Barbing salon business. So, you don’t have a shop space, no worries. Just buy the clippers that are sold for N2500. That’s all. Print fliers and get them distributed. This time you’ll be mobile, move around and groom men’s hair and face. Your selling point is that you go to your customers and you also charge less. Continue like this for another quarter until you have enough money to get a small space. Buy at least four plastic chairs and keep working hard until you can buy an electric power generator. A year after this, you must have saved enough to rent a standard shop and have it decorated with shop fittings. Now, you can hire labor and continue your mobile and home services. It shouldn’t take you longer than another year to grow into a mega outfit. It all boils down to innovation, creativity and hard-work. Implement effective financial management techniques and continue to expand.
#14. Painting services. Painting business requires rigorous marketing so as to be able to land tons of contracts. You may ask; “Is this realistic?” Certainly. Your earning power comes from your ability to promote your work. Again, with this business, you don’t need to know how to paint. Simply outsource your jobs to good painters once contracts start coming.
Focus more on promoting your business on social media platforms, especially WhatsApp, Facebook, Twitter, and Instagram.
#13. Cleaning service agent. Buy cleaning materials and equipment. Move from home to home in your target environment. When you start getting jobs, hire extra hands to make it easier and more effective. Think of getting your business to appear more professional. Starr targeting getting a shop space, register your business, print business cards and work on expanding your company.
#12. Laundry services. With your N5000 buy detergent, bleach, and other cleaning agents. Tell people around your neighborhood about your business. You will definitely get jobs. Do your laundering from home and have them delivered to your customers. Make sure you charge less than the conventional pricing. Pay attention to how you handle the clothes so as to avoid issues with your customers. Treat your customers well, grow your customer base, expand your business and steadily grow into a millionaire within a year.
#11. Beauty salon. Print fliers and have them distributed around them. Hire a good hairstylist. You don’t even need to do the hair if you’re not good in this field. Your business will basically involve mobile services. You are to deliver hair making services wherever your customers are located.
#10. Point and kill joint. You don’t need a lot of money to startup a point and kill joint. Talk to a thriving food canteen or restaurant around you and offer to pay an agreed sum every month to use their restaurant. That only has to include point and kill in their menu. N5000 is more than enough to get you started. This business is very profitable and within a year you can get a small space in a good location to start up fully.
#9. Small printing press. Some three or so months before you start the printing business. Print and distribute fliers to individuals and businesses, schools, churches etc. When you start getting jobs just outsource them to printing businesses around you. The difference between the money paid and your quotation will be your profit. This business is simply a game of numbers, get as many job contracts until you’re big enough to stand on your own. Focus more on promoting your business and getting repeat customers.
#8. Snail rearing business. Find out how to breed snails if you don’t already know how. Buy the snail with your N5000 and a cage (this is an avoidable cost). Make sure that you already have an available market for your snails and bingo! You’re on your way to becoming a millionaire within one year. Supply to snail sellers, restaurants, homes and catering outfits around you.
#7. Bead/jewelry making. For those who are skilled at jewelry making, this might just be a money spinner. All your focus should be on marketing your business and building a large customer base. Finish. Hook up with event planners, with beauty salons, boutiques, fashion designers and other relevant businesses that can help boost your clientele and the sky’s your limit.
#6. Bulk SMS. Yes. Bulk SMS services is a need as far as business and commerce are concerned. This is still very relevant now more than ever as people need to circulate information around in more conventional ways.
Prepare a well-written proposal and get it to schools, churches, and businesses around you. Your proposal should convince people of the need to be able to get information across through bulk SMS services. All the above-mentioned institutions actually need bulk SMS services. So once you’re able to convince them. Get two or more jobs, you can work on that to grow your business.
To draft a winning business proposal with the assistance of professionals you can send a direct mail to dayohub@gmail. com
#5. Vegetable farming. Farming business as you probably already know is highly profitable and is enriching people who are ready to work hard. Vegetable farming as a whole is very lucrative. Just by getting a small plot of land around your house you can start this business. Get vegetables such as water leaf and start planting. In Akwa Ibom State, a single bed of waterleaf goes for N5000 and a plot of land holds an average of 8 beds. So you can actually make up to N40,000 every week because waterleaf sprouts on a daily basis. Lease more properties and expand your farming business.
#4. Blogging. Yeah. Blogging is making so many people rich now —provided you planned well ahead of time. Your blog should be able to meet a market need, once this is achieved, the sky’s your limit, because the possibilities of making money from blogging are endless. These days you can easily host a website with N5000 or less on WordPress and other relevant platforms.
#3. Indomie fast food business. Generally, fast food joints tend to get more customers than others for so many reasons. They are cheaper and able to cater to feeding hustlers and busy people in communities. Indomie noodles joint is super trending at the moment because of the relative ease at which people get to access quick and rich meals. Starting up with N5000 is quite realistic, whether or not you have a shop space. Again, you could talk to fast food joints around you, find one who is ready to accept you and offer to pay an agreed sum every month to, say, about 6 months. Once this is done, start with a carton of Indomie and one crate of eggs. And before the stipulated time you should be able to get a shop space and start growing your business.
#2. Groundnut production. Groundnut production business is a very profitable business. If you know how to produce groundnut, good for you, otherwise go learn how to, it’s not so hard to prepare. But it has techniques you have to be good at so you don’t incur unnecessary losses. Once you’ve mastered how to prepare sweet groundnuts, just package them and supply to stores around you. Groundnut production business has about a 100% profit margin, so go for it.
#1. Sell fruit salad. Fruit salad is quite easy to make. Buy 3 to 5 different fruits, have them properly chopped and mixed together. Have it packaged in disposable cups or small plates, refrigerate and start selling. A plate of fruit salad with milk can cost as high as N250. So if you can produce and sell 40 plates every day you’ll be making N250×40=N10,000 gross income every day. And that’s just the beginning, with time you should be able to hire extra hands.
So, with this tips, you have no excuse to start your business. I really hope this article has been helpful to one or two persons out there. I will be interested to know which of the ideas resonates well with you. Do drop a comment and please share freely with your network.
If you need help in implementing any of the ideas above send a direct mail to firstname.lastname@example.org or call 08105636015 or 08076359735
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
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