5 Businesses You Can Start With less than 50$

Many people hold back from starting their own businesses due to the common belief that it requires a huge amount of money. However, this is not always the case, especially in today's economic challenges in Nigeria, where making an extra income has become more necessary than ever.

Whether you're a student, a career person, or a stay-at-home mum, there are numerous business opportunities that you can start with as little as 50,000 naira. These businesses don't demand heavy financial investments but can yield returns if equipped with the right marketing strategies.

Let's look at some simple and profitable business ideas that can help you make extra income without needing a large capital.

1. Pomo Business

Pomo, also known as cow skin, is a popular delicacy in Nigeria and other parts of the world. This business involves processing and distributing pomo to local markets and restaurants. With the right connections and a steady supply chain, you can establish a profitable business.

Pomo is loved for its unique taste and texture, making it a staple in many traditional dishes. Building relationships with suppliers and understanding the market demand are ways to succeed in the business.

2. Zobo Business

Zobo is a traditional Nigerian beverage made from dried hibiscus flowers. This refreshing drink is enjoyed by many and offers an opportunity for entrepreneurs to tap into the beverage market. You can start by making zobo at home and selling it at local markets, events, or even online.

Adding unique flavours or variations, such as adding ginger or pineapple, can set your product apart. Branding and packaging are also important to attract customers and build a loyal customer base.

3. Online Thrift Business

With the growing trend of sustainable fashion, an online thrift store can be a lucrative business. You can source gently used clothing, accessories, and other items from thrift shops or markets to resell. Selling these items online allows you to reach a wider audience and offer affordable fashion options.

Creating a user-friendly website and utilising social media for marketing can help drive traffic to your store. Additionally, curating a collection that caters to specific styles or trends can attract niche markets.

4. Perfume Oil Business

Perfume oils are becoming increasingly popular due to their longer-lasting scents and affordability compared to traditional perfumes. Starting a perfume oil business involves sourcing quality fragrance oils and creating unique blends.

You can market your products through online platforms, social media, or local markets. Packaging and branding play a significant role in attracting customers. Offering a variety of scents and customisable options can also enhance your product line and appeal to a broader audience.

5. Content Creation 

Content creation offers a wide range of opportunities, including blogging, vlogging, podcasting, and social media influencing. While it may not require an upfront investment, investing in quality equipment such as cameras, microphones, and editing software can improve the quality of your content.

Producing valuable and engaging content can lead to various monetisation avenues, such as sponsored content, affiliate marketing, or advertising revenue. Building a strong online presence and consistently delivering content that resonates with your audience are key factors in achieving success in this field.