More people are looking at the possibilities of starting their own extra business, even though some are wary of the financial implications of a new business. Read on to learn businesses you can start with little or no money.
File photo: Lady offering dry cleaning & laundry services
1. Consultancy services
One can basically consult on almost anything and everything. Just think of any special skill you possess and pronto, you can make a reasonable income from it. Examples are marriage counselling, business consultancy, legal consultancy, property consultancy and media consultancy, among other things.
No matter how poor people may be, food still remains the number one basic necessity of life before clothing and shelter. If you can do it right, it’s one of the surest way to cross the poverty line. With a capital of between N10, 000 and N50, 000, you should be making a residual income from it.
3. Real estate agency
By finding properties for prospective clients, you render a valuable service to both owners of properties and prospective tenants. Advertise that you have listings available for houses, apartments, flats, rooms, offices, etc. You can either charge a one-time fee for finding accommodations or work on a commission. In this line of business, capital or professional qualification is not really required. As a start-up, you can belong to groups in the real estate niche or get briefs from family and friends. Just have the right information and you will always laugh all the way to the bank. In addition, you can also be a property manager to your clients and earn steady income from management fees.
4. Rental business
This has mushroomed into an attractive new business opportunity. People prefer to rent professional equipment instead of buying new ones. Many people are doing well these days by acting as rental agents for all manner of things – power tools, trucks, cars, electric generators, etc. Just look around your environment and conduct a research on items that could be of rental value to your community. For example, if you live in an area where property development is just springing up, you can decide to venture into renting out building tools such as wheelbarrows, shovels, trowels, ladders, sledge hammers, etc.
5. Laundry service
Everyone has dirty clothes for laundry, but many working class do not have the time to do their laundry themselves because of their busy work schedule. This is where you would come in handy and make money by doing a professional laundry service, especially in areas where power supply is erratic. If your compound is spacious enough to accommodate washer-men and pressers who will do justice to the clothes, hire them and start making money. This business could just be for you if you have a knack for cleanliness and corporate cleaning services. With a capital of between N20, 000 – N100, 000, this business could turn you into a millionaire within a short period.
6. House cleaning service
Many homeowners and apartment dwellers will welcome help. Charge a flat fee for the amount of work that must be done. You can also help offices and corporate organisations to keep their environment tidy; all you need is a small team. Tell your friends and family who are moving to a new house or changing offices about the service you render and with the help of fliers or handbills, you can reach out to a large audience.
7. Make and sell customised jewellery and beads
Homemade costume jewellery sells. You can sell directly to jewellery outlets, gift shops, hairdressing salons, boutiques, and e-commerce platforms such as Jumia, Konga, Payporte, OLX, among others. It is possible to start with a limited capital of N5, 000- N20, 000.
8. Game centres
The game centre concept is good, both for those who have jobs and those who want full time involvement. A game centre is a place where people, mostly young ones, play computer games like Play Station, Nintendo, Atari, etc. You can also provide space for refreshments like ice cream, snacks, soft drinks etc. Gaming centres charge customers who come to their outlet between N100 and N500, depending on the location and the type of customers you are dealing with. If you start small, you can make between N5, 000 – N20, 000 per day. You can also provide a mobile game cabin for birthdays and parties. This arrangement can fetch you good money if you get high-end clients in areas such as Ikoyi, V.I, Lekki, Ikeja G.R.A, etc.
9. Fish farming
If you have been contemplating on a small business and haven’t heard about fish farming, then you are missing out. Over the years, quite a few people have made fortunes from fish farming. As the population is swelling and protein needs are far outstripping the available supply, fish meal is always a winner if done well. Fish farming is a sure bet business if you put the right structures in place. More and more people like fish due to its low cholesterol protein, All you need do is to get a space, buy or construct tanks, buy fingerlings for between N10 to N20 and feed them for four to six months, then sell from between N1,500 to N2,000, depending on weight and size.