Find out how to earn high income with little capital by exploiting untapped businesses and ideas that meet market demands in Nigeria.
6 Untapped Businesses & Ideas with Low Capital in Nigeria
Have you invested in many businesses and failed, or you are looking for new opportunities that can fetch you more money? Look no further. In this post, we are going to introduce you to 6 untapped businesses and ideas you can start with small capital and earn a high income in Nigeria.
- Horticulture
- Food Crops Farming
- Farming Equipment Business
- Selling Ice Block and Drinks
- Dry Pepper Production
- Retail Business
1. Horticulture
Horticulture is one of the most lucrative agribusinesses that can fetch you a massive income in Nigeria. It involves planting of ornamental plants for beautification and other ecological purposes.
People who practice horticulture are really making it big today. They ride on the fact that people cannot spare time to plant and tend flowers again. Hence, they fill in the role and earn from it.
Interestingly, horticulture has been identified as a major business idea that you can start with little money. With N10, 000 – N20, 000, you can set up a site to plant your flowers and tend them for commercial gains.
Considering the marketability, horticulture is a lucrative business will remain relevant for many years. This is because as long as people build houses and beautify their homes, flowers will be in high demand.
2. Food Crops Farming
Apart from practising horticulture, another business idea that tops our list is food crops farming. Did you know you can make millions from planting food crops in a tiny little space?
For a start, you don’t need a big plot of land to grow your green vegetables, potatoes, yam, pepper, maize, beans and other food items that we consume every day.
This is one of the unique business ideas that you can do from home. In fact, it does not cost a fortune to bring this idea to life. For instance, you can grow these food items in small sacks in your small backyard.
This new style of farming is very easy and highly productive and we strongly recommend it for you.
3. Farming Equipment Business
You can start this type of business with just 500k and be twice richer in 6 months! As long as people continue to farm, selling farming equipment will remain one of the unique small-scale businesses in Nigeria.
Since farming is not going to oblivion anytime soon, selling Agro-chemical products is a good start. Farmers need chemicals such as herbicide, pesticide, preservative, booster, etc to experience smooth cultivation.
Of course, farming equipment like spraying pumps, harvesters, planters, cutlass, hand gloves, boots, watering can, etc will be highly demanded during planting and harvesting periods.
Definitely, investing in farming equipment is a pathway to making morning in Nigeria.
4. Selling Ice Block and Cold Drinks
If you are still trying to figure out low-cost business ideas with high income, then you should consider ice block production and selling cold drinks.
There are a lot of opportunities in this venture, especially in communities where there is poor electricity supply. The business of ice block will thrive there because people need to keep their water and drinks cold.
You can also make more money by selling in large quantities to retailers and “pure water” sellers who need your product mostly for their business.
If you stay in this kind of area as mentioned above, then not taking the advantage of poor electricity supply will be the greatest mistake you ever made!
5. Dry Pepper Production
Have you considered selling dry pepper at all? This business is very cool, easy and highly profitable. Imagine white rice or jollof rice without stew or pepper, impossible!
Currently, dry pepper is in high demand in supermarkets, stores, and shops across Nigeria. As a starter, you can successfully run the dry pepper business with a small capital that is as low as #100,000.
To make it a successful business idea, however, it is advisable to buy fresh pepper directly from farmers because they sell at cheaper rates.
You can then proceed with other production processes such as sun-drying, grinding, packaging, after which your product is ready to hit the market!
6. Retail Business
The retail business is one of the successful businesses that are untapped in Nigeria. Thanks to technology and covid 19, people have now moved from traditional retail business to online retail business.
Apparently, retail business is full of business opportunities. Currently, with a 1 billion dollar net worth, Jumia is the leading African retail business. So you see that this business is money-spinning.
All you have to do is to carve your own niche, set up a location, either physical or online, hire vendors and promote your products. It’s that easy.
You might like to see these 5 Proven Marketing Strategies to Sell Your Products Fast Online in Nigeria
Conclusion
With little or no capital, you can become insanely rich when you delve into untapped businesses that meet market demands in Nigeria. In this post we listed some high earning opportunities you are yet to consider