If you have 100k – 200k, starting a profitable business in 2022 is a must except for those who are earning a monthly salary that can pay their one yearly rent, other bills and still have enough to save.
If you have to save parts of your monthly salary to be able to pay up your house rent, then you need a side hustle. This article had been written for those who need side hustle and those who do not have a job but want to start a profitable business in 2022 with 100k – 200k.
The simple truth is, the price of commodities is not fixed. Therefore, you may likely spend above 100k to start a profitable business in Nigeria this year. All businesses are profitable with the right feasibility study.
Starting a business is easy, making profits is hard without proper guidance especially in terms of business location. Except you are into a business that doesn’t require people to come to you (work from home), you need a good location if you really do want to succeed.
Starting a profitable business with 100k to 200k requires proper planning and being ready to run at loss. If you’re not ready, you shouldn’t go into business. It is called a business before it runs on a platform call profit and loss.
You should also try to learn from someone who had been into the business before you. Be humble enough to learn the trade no matter how small the business seems to be. Learning will reduce the rate of loss over profit.
What is a profitable business?
These are businesses that generate a profit rather than a loss to the business owner within a short time or long term frame. There are so many businesses you venture into and on this page, I will only share with you those businesses I have experienced first hand not random ones. Businesses I know people who are into it and are making it big time.
5 Profitable Business To Start With 100k-200k In Nigeria 2022
Popcorn business is one of the profitable businesses you can start with 100k with proper planning and good marketing. Popcorn is one of the favourite snacks of many people both old and young due to its crispy effect on the mouth, the nutritional value.
One thing that makes the popcorn business profitable is that the materials involved in the production are not costly, anyone can afford them with little effort. The product sells fast too because people just enjoy eating popcorn for many reasons.
Location: eateries, markets, motor parks, supermarkets, schools, canteen, hotels, stores, petrol stations etc.
Popcorn Production Materials
- Powdered milk
- Vegetable oil
- Big bowl
- Popcorn machine
- Scooping spoon
- Gas cylinder
Due to the proximity of banks and ATM machines, in some environments, POS business in Nigeria is currently one of the profitable businesses which an average Nigerian can start with 100k. A POS business or mobile money agent makes cash available to people in exchange for a commission or fee through a POS machine. You can make more than 10k per day in a very environment.
To become an agent, you would need to go to the bank of your choice and do the necessary registration. After the registration, you would be given a POS machine. Banks give POS for free but with terms and conditions.
Below is a list of some of the banks that give POS machines in Nigeria.
- Zenith Bank
- First Bank
- Access Bank
- Union Bank
- Eco bank
- Skye Bank
- Diamond bank
The laundry business can be extremely profitable. You can have shop or work from home. With low expenses and reoccurring revenue, the laundry business can be an excellent way to build passive income. Your most expensive costs as a laundry business owner are your rent or building costs and utility expenses
For a laundry business to be profitable, you must be accessed easily. A good location for laundry business are residential areas, estates, or high-income neighbourhoods, and a place you can easily access clean water, etc.
Basic Materials For Starting A Laundry Business
- Pressing Iron
- Laundry detergents/soaps
- Ironing board
- Garment conveyor
- Nylon and tags
- Power generator
Snacks business (Puff-Puff)
Puff puff is the Nigerian most recognized snack and also an extremely profitable business you can start in 2022. You can choose to be a roadside seller or supply to schools. Whichever way, you can make a good profit with this business. Puff puff sellers have different customers; those who buy it for use at events; those who want to use it to refresh their guests. Corporate organisations, like banks, also buy for their events, associations meetings and those who are holding birthday parties, weddings and all such events
- Frying Pan,
- Gas cylinder/Gas Stove,
- Measuring Cups,
- Pastry Brush,
- Metal Turner,
- Kitchen Scissors,
- Sieve, Knife
- Apron, etc.
Ingredients for Making Puff Puff Include:
- Vegetable Oil,
Location for sales:
- Bus Stop
- Moto Park (Garage)
- Inside or outside Private and Public Schools
Plantain Chips Business
Plantain chips business is profitable and with 100k, you can start your own plantain chip business! Plantain chip is a deep-fried crispy and crunchy snack made from plantain, ripe or unripe. Most people see plantain chips as a preferred snack to hold hunger before a proper meal, hence it is widely consumed by people of all ages – children, adults, men, women, rich, poor, the high and the lowly
The major raw materials you need are bunches of plantain which is readily available in the local markets. If you are operating from Lagos, you can get as much quantity of plantain as you need from Idioro Market in the Mushin area or Mile 12 market along Ikorodu Road.
- Gas stove
- Plantain Chip Cutter
- Deep Fryer
- Big Bowl (basin)
- Nylon Sealing Machine (portable one will do)
- Weighing Machine
- Vegetable Oil
- Salt to taste
The mini-importation business is one of the cheapest businesses you can start and very profitable. In a few months, you can start smiling your way to the bank. With just N100,000, you can begin and make as much as 200% profit depending on your marketing and sales prowess
The internet has redefined trade and commerce. Many people have struck gold by importing items online through eCommerce sites like Alibaba, Aliexpress DHgate, global sources, etc. With about N100,000 or even less, you’re open for business.
Identify people’s demands. Search all the eCommerce websites, get a procurement agent to purchase these items. The agent will then send them to you to sell and make your cash. Items you can import and many varied and may include: mobile phone accessories, cosmetics, fashion items, etc.
Okrika Bale Business
This business is an extremely profitable business because people must were clothes, shoes and carry bags. Not everyone has the resources to spend a fortune to buy quality designer stuff, as a result of the poor economy of the country, an average income earner in Nigeria hardly enters the boutique. They will rather go for Okrika to cut cost.
Lagos, Aba, Kano, and Onitsha have good markets to buy bales of clothes for sale. Startup capital for this business may vary; it depends on you but you can start with a small capital of 100k to 200k.