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Friday, June 24, 2022

10 Businesses To Start With #20,000 And Make #100,000 Weekly

By Austin Edoho

It has now been proven beyond every shadow of doubt that contrary to the popular excuse being propagated by some people, lack of capital has never hindered a man from starting a business; but lack of a viable business idea has.

In this era of scarcity of paid employment, many have resorted to self employment, and they are smiling to the bank everyday.

Interestingly, most of these people didn’t have all the money in the world before starting up their businesses, as some of the businesses didn’t require more than twenty thousand naira (#20,000) to start. Yes, you heard me. With less than #20,000, anyone can start up a very viable business and make six figures every week.

Below are 10 lucrative businesses you can start with #20,000 and make #100,000 weekly.

1.Bedsheet / Beddings Production

This is a very lucrative business that many industrious people are tapping into daily, and consequently smiling to the bank. Visit any popular market on Lagos Island, or Oshodi, or Aba where they sell bulk materials. Pick some good designs, give it to some guys who will sew it for you right there in the same Market for a small fee. You can resell that bedsheet for 5 times the value.

You can start this business with less than #20,000 and diligently grow your capital base. With a little advert and marketing, you can be making cool profit weekly.

2. E-Payments and POS Business

Also known as agency banking, this is the rave of the moment as this cutting edge technology is now making it possible for people to engage in transactions such as bill payments, funds transfers and withdrawals, selling of airtime, and many more.

Some mobile banking agencies offer software, POS machines, and other facilities free of charge. Companies like Opay, Firstmonie, Moniepoint, Kudi, Connect Point, etc, are the leading platforms in this category. Get registered with them today, and start enjoying real benefits of banking.

You can also get POS machine from your Bank, and activate online banking. Either way, you stand to make a whole lot of money, especially if you’re living in an area where there are no banks.

3. Mobile and electronic Accessories

Mobile and electronic Accessories such as Pouches, Chargers, USB cables, HDMI cables, earphones and many more can be sourced on Alibaba, Ali Express, Deal Extreme, etc. The more quantity you purchase, the lower the price. And they are very light in weight, so shipping won’t be a burden. You can resell and make five times the cost of purchase.

4. Shirt Production

There are many good tailors who are professionals in making shirts. You can buy good quality materials, and take it to them for sewing. There are good quality materials ranging from 700 – 1k per yard, sew for 1500/2k, Sell for 5-7k each. If you sell just 20 shirts in a week, you will make over #100,000

5. Sales of men’s underwear

If you schedule a trip to Aba Market, you will find out that the cost of production of boxers is very cheap, as you can get one for as low as N300. All you need to do is package it in 3s, and market them properly. Utilize social media tools, post on facebook, instagram, beg your friend on twitter for RTs, etc. The cost of a pack of boxers (3 pieces) goes for 1500-2500. You can sell yours for 1200, and gradually grow.

6. Popcorn

This is another very lucrative business that you can start with very little money, and make thousands of naira on a daily basis.

Popcorn business does not require much capital to start. But it yields much profit, since everyone loves popcorn.

You can get a locally manufactured popcorn machine at a very cheap price, get branded nylon, corn, sugar, salt, and butter. You can also add milk. The beauty of this is that when properly made, its aroma alone will attract its customers.

When located in a busy area, especially a school environment, this business can yield as much as #30,000 in a single day. Yes, you heard me right!

7. Tutorial Classes

No matter your age, this is another well paying job which can be done either on a part-time or full-time basis.

Many families are willing to spend whatever it takes for their children’s academic success, and if there’s one subject you’re well versed at, teach it to those children and make your money.

8. Fairly used clothing (OK)

This is unarguably one of the most lucrative businesses in this present economic dispensation.

It isn’t news to hear that fairly used clothes such as jeans, tops, t-shirts, shoes etc, sell very well and very fast in Nigeria owing to the inability of most Nigerians to afford brand new clothes. Also, it is generally believed that fairly used original clothes from Uk or USA are better than the new ones made in china or Nigeria.

These materials could be sourced at Badagry, Cotonou, or other popular markets in Lagos (Katangua, Oshodi), Aba, and Port Harcourt(Oil Mill Market) where these items are sold at a very cheap rate. You can select some good office shirts at #300 to #500 each, and resell same for #2000 to #5000, depending on the quality, as there are 1st grade, 2nd grade, and 3rd grade bales.

Just wash them, then package them neatly and sell. With a little bit of marketing, you can be raking in #30,000 daily.

9. Cleaning Services

Some people find it hard to clean their apartments because they’re busy from Monday to Saturday. And on Sunday, all they want to do is rest. If you’re someone that loves cleaning and keeping things clean, this offers you an opportunity to make some serious money.

Your tools won’t cost you up to 20k, and you can clean up to 6 apartments every weekend.

10. Digital Marketing

The success of any business depends on in its ability to effectively reach its teeming customers, and this is achieved by effective marketing.

Get a used laptop, or you can temporarily use your Smartphone for a start. With some following on social media, you can approach companies and individuals with proposals to help them market their products and services to your followers. With commitment and persistence, you can rake in some serious cash monthly.

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