N10,000 can get you out of recession – Analyst
Many entrepreneurs thrive when the economy of any nation is in recession. With the current state of the economy, many Nigerians desire extra sources of income, and like the popular saying goes, ‘there is no time like the present.” Whether you’re an office worker who wants to make more to cater for increasing expenses; a small-scale businessman/woman who wishes to invest more to get more; a graduate with some cash to spare, or among other categories of persons, there is always something legal you can do to make money in the Nigerian market. Below are five businesses that can be started with N10,000.
With the recession in full swing, not many people can afford to make home cooked meals every day for the entire family. Besides, with the increase in the prices of packaged snacks and sweets, home-made small chops may provide the better alternative, even with the increase in the price of flour. You may not even need to invest in an electrical deep fryer as a stove will work just fine. You can make chin-chin, plantain chips (plantain is cheaper now), or even potato chips. For the best results, always ensure you use quality oil. These snacks can be supplied in schools, offices, construction sites, viewing centres and even churches (whether you’re a member or not).
Soap, in liquid form, is present in many homes, offices and even hotels. They are easier to handle. Their form makes them the ever-present companion for cleaning dishes, toilets, floors, bathtubs, windows and even appliances.
According to market survey, the ingredients required to make a 25-litre keg of quality liquid soap will cost about N2,500. One five-litre keg of the finished product costs between N800 and N1,000. As such, from N2,500, you can make 100 per cent profit by selling the 25-litre worth of liquid soap at N5,000.
Small scale food sale
Interestingly, the Nigerian market is a thriving environment for the sale of almost anything edible. For N10,000 or less, you can become the next noodles star cook of your area. The average price of a carton of noodles costs between N2,000 and N2,500. You can buy half/quarter of a carton of a variety of noodles to start with (some customers may request a particular brand) with two crates of eggs. Fresh tomatoes and peppers are in season now, so that should not cost too much to add. You can also offer fried diced plantain as a side dish for the noodles with peppered meat chopped in small blocks, if you can afford this. Always invest in quality oil. And the shop you need doesn’t have to cost a fortune, if you require such outlets.
You can pair with another business owner and occupy a section of the shop. You can also make the noodles at home and supply to schools, offices and other places. However, deliver quality at all times. Your food will go places and the quality will determine whether you wish for more customers or not.
Besides, even if you cannot cook and you have the space or the customers, with a friend or relative who knows how to work magic for the taste buds, by all means, invest in the business.
Nearly every Nigerian home requires the use of ground pepper, no matter how small the quantity. However, if you intend to go into the ground pepper business, always ensure you provide quality. With even less than N10,000, you can successfully market ground pepper from your home and if the environment permits, the office. The plus side is that they take a while before they lose their flavour, so you have enough time to sell it. If you wish, you can also invest in packaging, and this can be done at home. You’ll require quality wrapping bags and a nylon sealer machine. They are readily available in shops and even online markets and cost as low as N4,500.
People consume water every day and even with the thousands of people involved in the business of ‘pure water’ sale, it would seem the supply is still much lower than the demand. A bag of sachet water costs between N100 and N120 from the main suppliers and now that each sachet costs N10, you would be selling a bag at the sum of N200. If you have a freezer at home or in the shop, why not stock a few bags and advertise your wares. You can take it up a notch by adding bottled water and a few crates of soft drinks to the stock. You never know when a big event will take place in your area and it’s your chilled drinks to the rescue. Besides, you rarely have to worry about ‘best before’ dates. You would have sold out the stock before then for sure.