10 Businesses You Can Start With 5k in Nigeria

10 Businesses You Can Start With 5k in Nigeria
Written by Robin Okwanma

You really want to start your own business, right here in Nigeria – and you are short of cash? Or perhaps you have looked all around you, and all you could scrape together is a paltry N5,000. We understand that we are in challenging times globally and locally, and the value of our Naira is so low. But rather than merely searching here and there for some very substantial source of funds for your proposed business, you can still start somewhere – with that small amount of money, spirited dedication, and of course wisdom.

In many cases you don’t have to do all the work yourself; just network with the right professionals who will do the actual work; while you go to the forefront to market the service and invite people. Or you just simply start where you are and let potential customers know what you are good at, both online and physically. Let’s check out some small businesses you can start with as little as N5,000 or less, and still make good profits within a year if you are determined to succeed.

  • Mushroom farming
  • Plant/flower nursery
  • Beads & adornments /jewelry making
  • Laundry service
  • Writing & selling e-books
  • Roasted groundnuts & groundnut snacks
  • Home cleaning service
  • Bleach & stain removal production
  • Selling fruits & fruit salads
  • Barbing/ hair styling

Also Read- 10 Businesses You Can Start with 10k in Nigeria

Mushroom Farming

Do you know that some edible varieties of mushrooms are so rich in nutrients that they could easily substitute for animal protein? Yes, and given the right controlled (and fairly moist) environmental conditions, that old tree in your backyard, or a well set-up room with the right conditions is enough to cultivate them. With little effort, you can start mushroom farming business with just N5,000. Even more, it is possible to prepare and package both fresh and dried edible mushrooms, advertise and make them available to local markets and supermarkets; and even export them beyond the borders of Nigeria over time for meaningful profit.

Plant/Flower Nursery

If you love taking care of plants or gardening, put your love for greenery to work by creating a nursery for flowers and garden plants (even medicinal plants and spices can be cultivated this way for profit). A plant nursery business can be started easily with N5,000. You can cultivate the plants in your home or any available spaces you can get through acquaintances; make use of small pots, plastic or metal containers (even nylon bags) in your garden or balcony to grow the seedlings, water and nurture them carefully. You will need to seek for more information about each plant and how to correctly nurture them. Then introduce your nursery to people who need decorative plants around their homes, offices or public places; as well as those who seek after the medicinal plants you have. One or more satisfied customers will definitely bring others to your garden.

Beads, Jewelry and Ladies Accessories

Bead making, jewelry making and creating fashion items for women (and sometimes men) are crafts that have existed for ages. Coupled with the fact that women indulge so much in fashion accessories, they are hot cake. If you are skilled in the making of  necklaces, earrings, hand bands, waist beads, beaded purses, leather and cloth purses and bags, even hair adornments,  you have a ready market waiting for you. That N5,000 initial investment will be just enough to get the coloured beads and other materials to start work.

Laundry Service

Washing of clothes for busy clients who need additional help to do their laundry from time to time is a fairly common and lucrative business in many Nigerian cities. Just advertise your work to neighbours and people around you, and you can volunteer to go pick up their laundry to wash and iron them either at their own location if they so desire, or at your own place. With that N5,000, you can buy cleaning materials such as soap, detergent, bleach, starch and pressing iron to start off your business – till you can afford to invest more and get additional paid helpers.

Writing & Selling E-books

If you love writing fiction, stories, interesting content for  publishers to help you publish them (or even pay you for the service) then this business is a cool niche for you. But you don’t  even need to be gifted in writing to make profit with e-books. Research more about the topics that are of great interest to readers in your chosen niche; then hire and pay a skilled writer to write your e-books for you. You can easily start this with your N5000 initial capital. Thereafter, you can promote your e-books by setting up your own website or blog to market them; or better still, register with book publishing sites or platforms that can help to market your e-books (such as Amazon KDP) if you are not yet bouyant enough to sustain your own website.

Roasted Groundnuts & Groundnut Snacks

Groundnuts are a favorite snack in many Nigerian households, along with groundnut snacks  such as kulikuli (groundnut flakes) and donkwa (groundnut/energy balls). They are surely selling fast around town. You can easily learn the best methods to produce roasted groundnuts and groundnut snacks (you can learn anything on the internet these days), package them neatly in bottles and sealed containers, then market them to stores and in strategic locations where people young and old can easily see your product.

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Home Cleaning Service

You love helping people clean out their homes and offices? Sweep and wipe floors and tiles, take care of their bathrooms? No problem. Use that N5,000 to buy simple cleaning tools and materials to start with, while you go meet people in their homes to market your service. As more and more clients patronize you and the profits start coming in, you can plan to get additional workers and your own rented space; get more materials; organize your business to look more professional; advertise it on social media; print flyers and distribute them. You are on your road to millions.

Bleach & Stain Removal Production

Make your own research to find out the right chemicals and  formulations  needed to remove all kinds of stains, not just the common bleach. There are many online tutorials you can source for to guide you. And with that N5,000, you can buy those chemicals and start producing your own brand of bleach and stain removal agents. Go ahead, network with people in the business of cleaning services and drycleaning; and advertise your cleaning materials preferably at a lower cost than the market price for the time being. You must learn in time to properly package your product, improve the quality, get it registered with NAFDAC, and continue to  attractore customers. With dedication, this business can produce your first millions for you.

Selling Fruits & Fruit Salads

Fruit business in itself is seriously profitable, as we all need those fresh fruits in our diet on a regular basis for healthy living. You can actually buy seasonal fruits in reasonable amounts, transport them and resell to consumers with that N5,000 to start with. Also, you may go even further to combine three or more fruits, clean and dice or slice them, place them in neat disposable containers and sell them to willing consumers in places such as car parks, bus stops, during traffic congestion, in schools, and the like. You may even supply fruit salads to parties and large gatherings over time, if you market yourself well.

Barbing/ Hair Styling

If you are good in barbing men’s hair, with that N5,000 you can buy electric clippers and sell your service to people around you by word of mouth, or if you like, print small flyers to distribute to people, advertise online where possible. Move from place to place to meet with male clients who need a clean cut or shave. Begin this way while you work towards renting a temporary space in someone else’s shop, or to own your space with a few added appliances and materials (such as generator, furniture and hair accessories).

In the same way, if you are a gifted hair stylist, you can market your service by word of mouth or by distributing flyers to people around you; use social media if you like, it all goes well. Then offer to meet your clients at home to style their hairs as well. Use that N5,000 to get basic necessities such as combs and some cosmetics you can carry around. (Additionally if you have experience in makeup, tying of headgear /gele, manicure, pedicure, making of nails etc., you will get so many female clients in a very short time and make cool dough).


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About the author

Robin Okwanma

Hi, I'm Robin Okwanma. Software Engineer || Django, Python || React, React Native || Blogger. Technical Writer.