19 Profitable Businesses you can do
There are varieties of profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira. These businesses are low in risk but still very profitable. You’re assured that once you start these businesses you can earn good profits and income for you.
These businesses can give you 6 figures income or more monthly. In choosing any of these businesses, you should put in mind that you are ready for serious money-making. The requirement to successes in these businesses is having the money (enough money), the will and the patience to learn the one you choose.
Before going into any of the businesses we listed here fully, you should endeavor you learn and train in them fully for understanding, to avoid failure and for better success.
Furthermore, before you proceed you should consider factors such as business competition, the viability of the business in the chosen location, the funding, the risk factor, the feasibility and some other factors. If the business does not meet up to what you have to check, you could consider rechecking your decisions and plans. Now, we will take you through these businesses that are capable of giving you 6 figures income monthly. These business to be listed pose low risks, bring in regular profits and are in high demand now around the world.
In listing out the businesses, we are going to be dividing them into four sectors and you make a choice of the one that best suits your narrative and passion.
PART A: AGRICULTURE AND AGRO-ALLIED SECTOR
l Food Distribution/Supply
This one is very important in this profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post. This is on top of this sector because the profit it brings is enumerable.
This business simply means that food distributors and suppliers buy foodstuff from a place where it is in surplus and send to where it is scarce. They make a lot of money through this and the business in Nigeria or anywhere else in the world is not saturated. The individuals doing this business make almost 10% of their capital in every trip, so imagine if they make three trips in a week or three supplies.
This business is good, but it is technical and somewhat risky. Thus, we encourage that you learn the processes to avoid disappointment and failure.
This business is also capital intensive. The larger your capital, the higher your chances of making meaningful progress. You will need a mini truck or bus at least even if it is fairly used or money to loan some people’s own, you would need access to village markets to buy the foodstuff, you would also need a guide to direct market. The business has even been made easier that in some states, you pay to join their organization of food distributors and as such you are automatically connected to ready markets and buyers.
The capital required in this business is up to 5 million naira ($9000) to make a good profit. There is no maximum amount for this business, and you have to note that the higher your capital and budget, the higher the profit. You also need to carry out feasibility study of the business in your selected location–the likely success and failure.
In this business, starting with 5 million, you can make another 5 million in sales and profits in a year. This business has high possibility of 100% or more yearly money-making increase.
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l Piggery
Piggery, according to our evaluation, is among the best businesses one can do in the agriculture sector. It is profitable than most businesses in the sector due to low risks associated with pigs, the omnivorous nature of pigs and their ability to breed in large number.
Pigs are HIGHLY fertile.
A fertile female pig produces average of 10 piglets a year better than cow of one in two years or one yearly or that of goats of 2 average annually. They also eat most things from meat to palm kernel waste to fruits to vegetables to cassava peels and cassava itself to corn. So, the feeding isn’t too much of money consuming. The treatment of pigs is also not money consuming, although pigs need regular deworming.
Just like in other businesses that we would list here, we encourage you to learn the processes of handling a piggery, the likely loss, the profits from an expert in the field. Learning it would make you have better yield and avoid losses.
The requirements for this business having a capital of at least 2 million naira ($3600) amd as good as 5 million naira ($9000), a building suitable for a piggery and your desire to learn and do the business. You should remember that the higher the capital, the higher profits expected.
The likely profits in this business is that in two or three years time depending on how many pigs you start with and your location and marketing, you should have made 100% – 150% of the capital invested. Thus if you start with 5 million naira, in two to three years time, you’d have made 5 million naira in profits and sales.
- Sesame
This crop is a cash cow crop. The surprising thing is that most Africans do not know it exists and grows very well in Africa. This crop is in high demand all over Asia and the market seems insatiable. So, no matter the amount you cultivate, you would always find international buyers.
To make good gain in this business, you should have a good amount of money as the higher the quantity you cultivate, the higher the profits. You should also learn from the experts as usual and know how it is done. Sesame doesn’t grow everywhere and in all seasons. For instance, in Nigeria, they grow in Nasarrawa, Niger, Plateau, Kaduna and Benue States.
When you want to cultivate these, you should do so in acres or hectares and not plots. As such, you would need capital of at least 1 million naira ($1900) to do this business.
The good thing about this business is that there is 50% – 150% gain after harvest of these crops. That mean if you invest 1 million naira in it, during the harvesting, which is usually after 3 – 6 months, you should be making sales and profits of 1.5 million naira. You don’t even need to worry about marketing it as some Chinese and other foreign exporters or their agents would come to your farm, know the worth and pay you off. Cool, right? Yeah, it is.
The other good thing about this cash cow crop is that it is not easily prone to diseases and pests so the risk is minimal compared to other crops. Aside from cultivating the sesame, you can also get into the business as an agent/middleman and also as an exporter; all of them pay good income even though they need good capital.
l Cashew Nuts
This crop is a good crop and business in this profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post.
It isn’t as profitable as sesame in the short run but on the long run it is or more than. Furthermore, you can also get into this business as a middleman, supplier and exporter. If you intend to have the plantation then the needed capital is huge and returns won’t surface until after 4 years, at least. Then from the 7th year and above, the returns would be massive.
This business as a plantation is capital intensive and is best done in hectares. Minimum of 3 – 5 hectares would be giving you millions after the 7th year. You earn from selling the fruits, earn from selling the nuts and can even start your own cashew juice and cashew nuts processing factory to sell or export directly. Furthermore, you earn from the tree after the tree’s 25 years lifespan has been exhausted and it is cut down and sold as timber.
Cashew nuts are in high demand within and outside the country and there is no way you won’t sell. Cashew trees does not prosper everywhere, so you need to go to where it does well and buy the largest and cheapest land you can get. Then, you clear the land, buy the best species of cashew trees that yield well and is not prone to fire attacks and burn. You plant in rows and do other things necessary.
In Nigeria, cashew trees grow well in Oyo, Enugu, Benue and Kogi States.
You need to learn this properly if you have the money and you are interested. In this business, on a long run, nothing like business closure or competition kicking you out of business; it is a long-term investment that would continue to yield. It is just like real estate. When the production is in full after 7 years or so, a 3-hectare of land can give sales of 2 – 3 million naira annually. Then imagine if it is 5 – 10 hectares? Starting the plantation, though, you would need 10 million naira ($18,500) to 15 million naira ($28,500) and above for every expenses you would have to make on the farm.
However if you don’t have such amount of money, you can also get into the business as a supplier/middleman, exporter and retailer. With as little as 500K naira, you can buy cashew nuts in bags when it is in season and store, or you sell immediately as a retailer to consumers and go to buy another one. Even as a middleman, exporter and retailer, cashew gives 50% – 100% gain. Remember, the higher the quantity, the higher the gain.
l Cucumber
This agriculture investment does not demand much money. If you have a limited capital of about 500K, this is the right business for you. Once you have the land where the cucumber can be cultivated, then the capital won’t be that much and they mature fast (2 – 3 months). It is advisable that if you don’t have your own land for the cultivation, you should LEASE. Do not buy land as these crops do not take long to mature, except you want to keep using that land continuously or for long.
So in 3 months, you harvest the cucumbers and take back your money to use it for other things. After the three months and there is still rain or provision of irrigation, you can also do it for another round in a different piece of land.
Before you embark on this venture, learn from the experts. There is a way it is planted, harvested, weeded and fertilizer applied. These experts would demonstrate how you can even make 60% – 120% gain or more in the business in three months. This means you can make 200K to 300K as gain after cultivating this crop.
You also have to take care to survey your ready market; make sure there is a market ready for your goods as cucumber is a perishable good. It is a very lucrative venture and as at now it is expensive in the market. It is also a fast selling good and is not much prone to pest and diseases attack like other vegetables and fruits.
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l Storage
This is another goldmine business in this profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post. The good thing about it is that it is not a long term investment. You simply purchase foodstuff when they are in season and excess in the location that have them in their cheapest prices, store them and sell when they are scarce. The profit in this business depends on the scarcity of products that season. You can make between 40% – 150% gain after a storage season.
2021 was a great year for people into storage. For people who stored beans, they made more than 200% gain. You buy a bag of beans around 30,000 naira and sell it at 100K naira. Assuming you used like 3 million naira to buy these that means your gain is 7 million naira. Imagine that!
Even products such as palm oil move as well. In March – May, palm oil was selling for 9,000 naira a gallon and by August it had climbed to 18,000 naira. That’s 100% gain. So someone who invested 1.5 million in it would get 3 million naira in return in a space of not up to 6 months.
This is the reason why I called it a goldmine. However, this business is equally risky and if some products are not properly stored, they can spoil and even if you are not an expert at it, you might invest in products that would make you waste your time and energy as prices won’t pump. It is not all year that the business favors people, so this is the reason we would always advocate you learn any of these businesses we explored here before going into them.
For success in this business, you would need capital of 5 million naira ($9000).
PART B: TECH SECTOR
l E-Commerce
In the tech sector, this is the top profit-giving of all the ventures we would list here. E-Commerce simply means finding those products that is uncommon in the market and that people would cherish to buy and have. Then, you display the products on your website with the price and review. Next, you either do an organic SEO campaign to get buyers or pay for advertisement of these products on social media platforms like Facebook, Instagram, Google and TikTok.
There is also another way of selling these products by growing fans on social media platforms and advertising your products for them to buy. Imagine you have 70,000 followers on Instagram, most of them male, and you advertise affordable watches, at least you would get 100 sales monthly.
The best is to sell what would attract customers online and make them buy. The best is also to buy these products in bulk, possibly importing them from China. Most customers online don’t have time to go to market and may be rich enough to afford your products. You are sure of making at least 25% – 40% gain on a single product.
To know the ways to succeed in this business, you need to be thoroughly trained.
You need capital of 1 million naira ($1900), at least, to gain considerable success in this business.
l Information Marketing
This is another goldmine in Tech and a good business in this profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post. This has to do with leveraging on the internet to teach people any knowledge you have.
In information marketing, you can teach any value-adding knowledge, ranging from money-making lessons to weight loss routines to the regular educational curriculum. There are some people who teach basic things such as Mathematics and English and they get individuals who are interested in them. The wonderful aspect of this income generating endeavor is that you can start with as little as 500K ($900) to get good android phone, laptop and good money for ads.
You also have to be very active on social media to easily market your courses or digital products there. However, the best place to get individuals who would be interested in your course is by running ads on social media platforms. Even though it is not revenue-spilling like it used to be, it still offer a good return on investment as high as 200% gain of the money you invested.
To become successful in this business, you would need a thorough guide and coaching so as not to lose money and become frustrated. This money-making venture is so good that even if you have a job, this is a SURE side hustle that can be done alongside your work to build a sustainable income.
l Affiliate Marketing/Dropshipping
With these two money-making venture, you don’t have to own any goods or digital products. What you need is your smartphone, internet and laptop. You are simply an online marketer in this regard. You market the goods and digital products of other and you are paid commission per sales.
For dropshipping, you can actually add the price you would love to add to the price stamped on the goods by the original owner. For instance, let’s say there is a fancy shoe that is sold 10K naira by the seller; you take the picture of the shoe and put it for sale wherever you like and add like 5K extra as profit. Thus when it is sold by you, the 5K is yours. You don’t buy the shoe or have it in stock at all. Very sharp business, right?
Affiliate marketing is almost the same thing. You get the digital products of information marketers and market them. Anyone who buys through you, you are paid good commission sometimes as high as 50% of the products. For instance, someone is teach how to cook egusi soup and charges 10K for the training, when you struggle to get someone to register for the training through you, you make extra 10K placed on the products.
There are even some digital products you earn as high as 50K naira per product that you sell. You should imagine successfully selling 10 – 20 of these digital products, you are sure of making 500K – 1 million naira all from the use of your brain, a phone, a laptop and internet. Even if you have a job, this is a SURE side hustle that can be done alongside your work to build a sustainable income.
I encourage you still to learn the process before venturing it. However, it is very lucrative.
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l Content Creator
This is another goldmine in tech and the beautiful thing about this venture is that you need just a laptop or/and phone, internet and a small amount of money in case there are platforms that ask for registration fees. A content creator simply writes for people what they need and request for. If you get a client who needs a story of 3,000 words you write it and deliver within the speculated time.
If the client is a foreign client, then be sure to earn as high as 200K for that piece of work. To be successful at this, you have to be really good at writing and you can register and find writing jobs on Fiverr, Upwork, Nairaland, Writersgig and all other platforms where such jobs are posted.
I even have a Nigerian WhatsApp group that such jobs are posted paying up to 5 naira per word. Aside from writing for people, as a content creator you can also create contents and manage blogs for people, social media handles and as a personal assistant and secretary. Content creators are paid well. You can do most these while still working on your job.
With this skill also, you can have your own blog, YouTube channel, social media pages and flourishing TikTok page.
l Gaming
This is one of the great opportunities in Tech. It is a good business in our profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post. When people hear Tech, they tend to assume that it is all about programming, coding and web designing, but it’s not.
There are other countless opportunities in Tech and in 10 years time, Tech would be controlling 65% of the world at least. For gaming, people no longer play game by buying video games or DVD electronics, it is now online with your phone or system.
The gaming industry is a multi multi-billion dollars industry. You can always make something out of this industry if you have the right strategy. However, establishing it and making it in this business demands a lot of money–thus, it is capital intensive. You would have a good amount of money to be able to break through because you need money to hire designers, creators, programmers, sound engineers, marketers and build a studio e.t.c.
In Nigeria currency you would need, at least, 15 million naira ($28,500) to succeed in this business. This would be enough to develop your first game, advertise it and monetize it. Monetizing games can bring in millions or even billions if you do it right, and when it is well publicized and advertised.
As we usually advice, before going into this, you should be passionate about it and learn from the masters. You lay the right steps and processes to having a successful gaming career. It is also offers a good return on investment if properly done.
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l NFT Digital Products Selling
NFT Digital Products Selling is another cheap and very lucrative income avenue to explore next year. Unlike some other Tech businesses that are hard or too expensive to explore, this one needs just a sizeable capital. 500K is enough with your laptop and phone. You mostly need money to register and get some cryptocurrencies to do the business with and payment of where to connect to ready buyers. You also need to learn it properly before venturing into it.
How does this business work? You simply create a digital content that is valuable like painting, graphic design work, music and any other content that people would love to have personally. Then you put it up in some cryptocurrencies enabled platform and make it limited. People bid for it and when they have it, they have that sole right to that content. It is like how the art market works.
This business is good when you are a creative person and can think up crazy ideas. People bid and buy digital products that they consider amazing, creative and highly valuable. So if you aren’t creative enough to make an art that’s outstanding in quality and in value, you might be losing out in this business.
It pays very very well. However, as we have always done, we encourage you to learn from the masters.
PART C: TRANSPORTATION
l Logistics/Haulage
This is a very good gold mine in the business world and it is even more lucrative than the regular transport of moving people from once geographical location to another. People think that it is saturated, but it is not. TRUST ME, it is not. There is still a lot of traffic and requests that can be solved reached with your own attempt at filling the market gap.
This is good business and vital one of profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira.
For those who do not know the details of this business, it entails moving non-human material and goods from one place to another as demanded by a customer/client. These goods can be foodstuff, clothes, books, food, and other material. It can be within a city, from place to place, or from city to city or from one zone to another.
This haulage or logistics can be done with a bike, a bus, a car, a trailer or even a train. It is a profit-oriented business and generates good monthly returns. You can start this business with as little as one bike and yourself and enough money to carry out campaigns and tell them about your business. Trust me, with your commitment and steady in flow of requests, you should be able to buy two more bikes or more and expand your business before the end of two years.
You need capital of at least 1 million to start it in a small way. In a large way, you need a minimum of 15 million naira and as high as any amount. This business can give you 10% – 30% of your investment monthly when it is fully established.
l Cab/Bike Hailing
This business is not also saturated as people think. Not everyone knows about Uber or Bolt, and not everyone can afford how high they charge at times. So, you have a bike or cab, you can use it to start a hailing business and give out your cards to people who might be interested in your services.
I know one graduate got into it and in a year and half he was able to get another car for the same business. You might even grow to a level that you buy exotic cars and offer rides to VIPs.
This is not a regular taxi business as you do not wait for passengers, instead you go to them by making fancy cards and giving it to them. If you print like 1000 fancy business cards and give it to them, convincing them why they need your services, there is no way 100 of them won’t convert and demand for your services.
It is about knowing the right place to get the right people.
Your gain over Bolt and Uber is that you can go longer distances at a cheaper price and they would trust you more. In fact to gain their trust further, let them know your residential address and family, and your office, in case you have. The higher the trust, the higher the demand for rides.
PART D: OTHER MONEY-MAKING VENTURES
l Real Estate/Agent/Building
You should know that Nigeria is an aggressively developing country and as such the real estate sector will continue to boom and expand. In other developing and developed countries, real estate and everything related to it moves as well. Currently, it is still a goldmine and many people are earning from it. The beautiful thing about this business is that you can start with as low as 500K naira capital.
It’s expensive and yet affordable business to do among our profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira.
There are many branches of this sector. You can be a developer–purchase land, build houses on it, equip it and sell. You can be an agent–you source for lands, houses and rooms for sell or rent and get clients to get your commission and cut. You can also be a building contractor, a painter, an interior decorator and so much more. Real estate industry is really a wide industry.
However, the best parts in this business is being an agent, interior decorator and a developer. For a developer, you need a massive income, about an average of 50 million naira to make good returns. For interior decorator and agent, you need little or nothing; what you render for these is service and not making sales. Any sector in real estate and building gives good income. Very good income high as 3 – 10 million naira annually for agents, high as 30 million – 100 million for developers in profit annually and for interior decorators/building engineers and contractors high as 4 million naira annually.
If you have up to 20 million, you can also invest in building considerable big residential area in a sizeable city to garner steady annual income and profits that would sustain you on a very long run.
l Event Planning/Catering
This is also a good income bringing venture. You should simply have an interest in it and learn how it is done before venturing it. This business requires good capital if you want to be able to beat competition and tackle other event planners and caterers. You need up to 5 million and even more to buy your own pots and cooking utensils and decoration material including canopies and chair.
However, if you want to start in a small way, 500K naira is more than enough. You can rent pot and other utensils.
Nevertheless, you should note that you would begin to reap greatly once the business sets off. You can earn by doing the decoration and catering works by yourself or by renting your material to other planners and people. It is a win-win. For this business, you can make as high as 2 – 5 million annually.
The IMPORTANT thing is that you have to learn it and begin to create a network of people who would likely be clients and connect you to other clients. The secret of this business is working for high net clients as they pay way more than regular clients. Another secret is being exceptional in your delivery of decoration and cooking. Tasty meals and well-planned events always stand out.
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l Eatery
This business will not always be exhausted. The population of the people keeps expanding and more people work their way into middle class wealth class. The more the number of people, the more the number of people patronizing eateries. This is the reason why eateries would always sell.
This business would be the constantly most patronized business in this our profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira post.
NOTE that this business is energy-tasking, so you have to be passionate about it and have energy to make it prosper. Your meals should be very tasty. You should also check competition as this business is prone to high competition. Good location is a good factor too so as to attract customers and make your eatery relevant. You should ensure you learn the ropes from a successful eatery owner. It might be in the city you want to begin yours or in another city. In setting up this business, check the taste of your particular location and how to attract the customers.
You need about 1 million – 5 million naira to set up an eatery depending on the location, size and your expected customers. High net customers demand better equipped eatery and a wide range of meals. In this business, you can make daily sale of 10K – 300K daily (this is also depending on your location and pricing).
l Clothes Making & Distribution
Clothes are another set of commodities which would always do well. People won’t want to go naked so they bring out their money to purchase clothes. There are many areas you can enter in this industry. You can enter as a tailor or distributor of already made clothes or even as one selling the material for the clothes making. In any part of the sector you enter, you are sure to make good returns.
The best part of this business if you have the money is to learn tailoring, then make a brand name of a particular fashion item, it might be pants, boxers, singlets, suits, shirts and trousers or even already made traditional wears. Consistently broadcast and market your brand until people gets to know the brand. Sow good designs and use quality material. You can either make it affordable or expensive depending on the economic class you are marketing to.
Gradually, it would sell. You need capital of at least 3 million to do it the brandING way. For the basic business, 500K – 1.5 million is enough.
In this business, you can make an annual sales of 2 million and more.
l Auctioning/Scrap
This business is often overlooked by people because it is mostly filled with the barely educated people. This business is a GOLD MINE. It is a sure gold mine among our profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira. However, to make it in this business, you need connection to top immigration personnel and a good amount of money like 10 million naira, at least.
Knowing a top migration personnel is to know when seized products would be up for auction. For instance, a car seized from an importer worth 5 million can be auctioned for 2 million naira. You buy it and make 3 million naira gain. So is it for other products. The day and details of the auctioning is mainly known to top people in migration force.
For scrap, you also need a large amount of money to be able to buy scraps in large amount from people who source them and sell to people who buy them. You need like 10 million – 30 million. After sourcing them, you gather them and send to metal making factories in the country or send them down to the ports for export. There is 15% – 35% gain in this business in every deal.
So that’s a lot of money.
Conclusion
Do you have these large amounts (500K, 1 million, 5 million, 10 million or 15 million naira) with you and you confused of which sure profitable business to do? This post about 19 profitable businesses you can do with 500K, 1 million, 5 million, 10 million and 15 million naira should be enough guide to direct your path on what business to invest in and make good money. However, before you venture into any of them make sure you get trained in one way or another.
Subsidized/Discounted Training
We can offer you subsidized or discount training in any of the businesses we listed here and perfectly too. You make profit once you start, you don’t lose your money and get connected to the right source of market for buying and selling. Reach out to us now! Contact Us, and receive immediate reply.