Hey there! Did you know you can start a lucrative and successful business with 700k in Nigeria? In Nigeria, there are many lucrative businesses ranging from fashion, beauty, food, logistics and more.
Whether as a side hustle, or a main business, you can start any of the aforementioned businesses with 700,000k. However, to start any of these businesses, you need to be fully aware of what the business entails.
If you are interested in starting this business or you’re not sure what business to start in Nigeria, then this article is for you.
In this article, we have outlined some of the best businesses to start with 700k in Nigeria. Hence, read through this article till the end.
7 Business to start with 700k in Nigeria
These are some business ideas that you can start in Nigeria with 700,000k. Below are some of the businesses to consider
1 Logistics
No doubt, shopping online is fast becoming popular in Nigeria as a lot of people shop for items from the comfort of their homes.
Hence, the physical store has to deliver their purchased goods to them via logistics agents. This is where you might want to hatch your plan.
You can start a logistics business that will be reliable and highly effective in the tasks of packaging, delivering, distribution, and many more.
With a sum of over 200k, you can launch a courier service, get sturdy bikes, locate brands that need reliable courier services, and start building your business.
You get paid or profit from the tokens that you charge them or their customers.
2 Food Business
A great, profitable business venture that you can go into is the food business. This is one business that takes the lead in Nigeria.
Launching a food business in Nigeria will require knowing and understanding more about what you are doing.
If this is something that you have an interest in or passion for doing, then you should go for it.
Moreover, you could be strategic about it and decide on which particular kind you would like to go into.
Some of the best options in this niche include a fast food joint, catering services, a food truck, food delivery services, or even your restaurant.
There are varying choices that you can make. And while a lot of things are going to be involved in this, a sum of 70,000k can go a long way in helping you launch this business.
3 Fashion Business
If you know you have an underlying interest in the world of fashion, then you can make a living by starting your own fashion business in Nigeria.
Additionally, Nigeria is home to a beautiful and colorful culture. Hence, if you want to add a touch of modernity to the scene, you can create fantastic fashionable pieces that you sell at valuable prices.
Moreover, the fashion industry in Nigeria is very lucrative, and the sum of 700k can help you start this lucrative business.
For a fashion business in Nigeria, you can decide to start with options like launching a fashion boutique. Or bespoke clothing, clothing accessories, a clothing line, and so on.
4 Beauty Business
Irrespective of the genders involved, a huge business that you can start up in Nigeria with promising profits is the beauty business.
Not only is it a fast-growing industry in Nigeria, but it is also very much in high demand. With your start-up capital of 70,000k, why don’t you work your way up to being a reliable beauty product reseller to target customers you can reach?
Aside from selling beauty products, another great niche you can develop in this industry is opening a beauty salon.
This is a high-value service that people pay a lot of money to receive. And you can make a huge living from this kind of business in Nigeria.
5 Agriculture Business
Every rich and powerful man in Nigeria deals with the hand of production in Nigeria.
Even if you don’t immediately want to launch a refinery like Denote in Nigeria. You can start a production chain for yourself by dealing with or starting an agriculture business.
This business doesn’t only promise high profits earned by diligent work. It can also be started with a sum of 70,000k in Nigeria.
Furthermore, starting a vegetable farm will require you to invest in a small plot of land, cultivate crops that are in high demand, and more.
If you are further interested, you can also deal with poultry farming, fish farming, catfish farming, and many more.
6 Sales of Electronics
Another business idea that you can start in Nigeria is the sale of electronic devices. You can make money selling electronic devices like fans, DVD players, speakers, TVs, and so many more.
It is also one of the easiest businesses to start in Nigeria, and your sum of 700k can foot the bill as a startup.
7 POS Business
Another business idea that I have to add to this list is the POS business. Note; only is this business thriving in Nigeria, but a sum of 70,000k can make you a lot of profits in this business.
Plus, you can reap more profits as long as you are smart in this business.
ALSO READ: How To Start A POS Business In Nigeria
Bottom Line
In conclusion, the business you can start with 700K in Nigeria so many are not limited to the above-listed business but this list will help you choose the best business that will provide you the financial freedom you desire.
