A couple of Nigerians are usually confused when it comes to deciding the business they would do with their money especially when the money is a large sum. In this post, we’ll be guiding you on the profitable businesses to start with 20 million naira, 30 million naira, 40 million naira, and 50 million naira. These businesses are profitable and you are well assured of not losing your money.
The businesses we’ll list aren’t only profitable, there is low probability of failure. Thus, you are certain that you won’t have heartache in running them. The simple process in running any of them is making your final choice, learning the ways of the business, and do it right.
Now, let’s get down to the post.
Profitable Businesses to Start with 20 million naira, 30 million naira, 40 million naira, and 50 million naira
1. Importation and Exportation
This is the most profitable business in this list, although it is the riskiest. You can offset the risk of the business by ensuring you import and export the right products, and you get customers ready on ground before exportation and importation. We advise that you stay away from perishables.
You shouldn’t deal in any contraband or perishables, and your money is save. In addition, you should make research and know a saleable and profitable product before dealing in it. If you do your homework well, you will do well in this. However, it’s a capital intensive business that you shouldn’t venture into if your capital is less than 30 million naira.
2. Transportation and Logistics
This sector is broad, and you can get into it from any angle or sector. You can start this one with 20 million naira, and even that amount is a little bit on the high side. We advise that you get into it in a small way first before scaling up like maybe getting a bus or a few buses and register a transportation company, or you get a Sienna or some Sienna vehicles.
The population of Nigeria is so much that there cannot be saturation in the transportation and logistics industry. You just have to find the weak links in the sector to get into. You can start with the routes where there aren’t many buses or siennas going or none.
You can also choose to have a logistics and delivery company. With this your company, you deliver goods within and close to your city.
3. Palm Oil Plantation and Processing
This is a goldmine business that is often neglected. It is a little bit stressful though, and it takes a while before you start earning but then in its full bloom, you should make a good amount of money. It’s a lifetime investment that you keep making lots of money from it.
The higher your capital in this business, the higher your income, like in all business. If you have let me say 40 million naira, it’s enough to buy 50 hectares or more in a very rural area and set up your farm. With this amount, you shouldn’t employ too much farm hands, and you should be on a budget.
You should also set up an oil processing mill in a good area to be making money for the meantime before your palm trees nature. When buying palm trees buy the good agricultural specie so that in four years, you begin to harvest good amount of palm oil and kernels.
4. Primary and Secondary School
If you have 20 million naira, 30 million naira, 40 million naira, and 50 million naira, setting up a good primary and secondary school is something you should consider doing. This is because schools give good return and fast growth within a short period of time.
To make the school successful, the curriculum should be good, structures amazing, your staff members intelligent, and educational standard high. Once parents know that your school impacts good knowledge, and the students are smart, your school will excel.
5. Food Processing and Distribution
Food processing and distribution of everyday meals and foodstuffs is another one that will give you good return for your money. Meals and food such as garri, ewedu flour, wheat, potato flour, moi moi flour, dry pepper, dry tomato, and so on. Once it is a fast moving product and you market it right, you would sell it.
You should ensure that the ones you process aren’t so perishable. They should have a considerable good time of storage so you can market it properly to sell.
This post has done justice to this post of profitable businesses to start with 20 million naira, 30 million naira, 40 million naira, and 50 million naira. You should try out any of these, and before doing so, do your studies right. You start the business that fits your immediate environment.