Which Business can i do with 200k in Nigeria

Searching for Which Business can I do with 200k in Nigeria to make more money? We all know that Nigeria’s currency has been losing value over the years, so 200k might not seem like enough money to start your dream business or any good business, but it can be if you choose the right business and have a plan for making it happen.

Many people may think that the amount of money you have is the only thing that determines whether or not your business will start up.

Which Business can i do with 200k in Nigeria

Your business choice, how well it fits into your environment, and how you plan to make it happen have much more to do with whether you succeed or fail than how much money you have. In light of this, we’ll look at 10 businesses you can start with only N200,000 in capital. If you look through this list with your own situation in mind, you should be able to quickly choose the right business to start.

Which Business can i do with 200k in Nigeria

Even a small business in Nigeria can be expensive to start up. Even if you’re able to get off the ground, you might still lose money at the end of the day. Here are 10 businesses that you can start with as little as $200,000 and still make money in the long run.

1. Hand Sanitizer Production

In the global pandemic going on right now, hand sanitizers are all the rage. They can be made at home with the right ingredients, so you can start a business with N200,000 and make money. There are many hand sanitizers on the market right now, so your goal is to make yours stand out. Pay more attention to how your product looks as well as how well it works.

Hand Sanitizer Production

It’s one thing to have a hand sanitizer that works, and it’s another thing to have one that smells and feels good. Also, your packaging matters. People who have never bought your product before might like the size and style of it. Last, don’t forget that you’re dealing with people’s lives and the prevention of disease. Make sure that your product does a great job of reaching its main goal.

2. Phone Repairs

Fixing cell phones as a business has the benefit of only needing a small amount of money to get going. It can also be used to make a lot of money. Before you start your business, you will need to spend some money to learn how to fix phones the right way.

There are two ways to start a business to fix phones. With N200,000 in start-up capital, you can rent a store or buy a space where your business will stay. This makes it look like you’re a real business and makes the customer feel more comfortable doing business with you. You can fix a lot of broken phones and keep track of them as you work. It’s the more expensive choice, though, because you have to put some money down for rent.

The second thing you can do is make your business portable. This, however, means that you can only work on one phone at a time and won’t make as much money as someone who has a store.

3. Daycare Services

The daycare business is one where both the service provider and the client need to be able to trust each other. No sane parent would leave their young child with someone they don’t trust. As a result, it’s up to you, the service provider, to build this trust.

Before starting a daycare center, the first thing to ask yourself is, “Do you love children?” If you don’t, you shouldn’t start a business. If you only have N200,000, you might want to focus on childproofing your home instead of renting a place.

You can run a daycare out of a bedroom and hire one or two people to help with the kids. Set a limit on how many kids your daycare can take; don’t make it too crowded. Regularly ask your clients for feedback and act on suggestions that make sense.

4. Interior Designing

Nigerians care more than ever about how their homes look on the inside than they did in the past. Because of this, they are more likely to want to hire an interior designer. Interior design is a good business that doesn’t require a lot of money to start.

Interior designers use things like color, texture, and shape to make sure their clients’ homes are tastefully decorated, well put together, and a joy to live in as a whole.

5. Car Wash Services

Location is everything for a car wash. If you find a good location, people will come all day long. When deciding where to put your car wash, you must, of course, think about the people who live there, your budget, and the competition.

Choose a place with a lot of people, preferably near a major road. You could also put your car wash in a business that works on cars, like a repair shop or gas station. Don’t start your business where there are already a lot of car washes, because you probably won’t have enough money to compete with them. With 200k to spend, you should only hire a few people.

6. Fumigation Business

This has to do with getting rid of pests at home and on farms. In the fumigation service business, chemicals and other tools are used to catch and kill pests that are harmful to clients and cause them damage. It’s very important to make sure customers are happy.

To be successful in this business, you need to have the right tools and know how the organisms you are trying to get rid of work.

But to start your business, you need to give it a name and register it. You should also make sure that your business markets itself through the Internet.

7. Temporary Restaurant

A temporary restaurant is basically a restaurant that only opens at certain times, like late at night after other businesses have closed for the day. It may or may not be a temporary structure that can be set up and taken down quickly. It could be an open-air restaurant with just a few benches and tables for customers crowded around a big table that serves as a makeshift counter (for the cook and servers).

Temporary Restaurant

The owners of these kinds of restaurants don’t have to pay standard rent (which is usually a major impediment to starting a small business with 200k). Also, it might only serve people who order food on their phones and get it in takeout packs.

8. Barber Shop

Making other people look good is also good for business. With 200k, a good business idea is to open a barbershop, or “barbering salon” as they are called in Nigeria. The first thing to keep in mind when opening such a salon is where people will sit. You should put your barbershop in a place where people can see it and get to it easily.

Your budget may force you to start as a one-person business, but you should always plan to grow. Given how the power works in the country, one of your main goals after setting up shop should be to get a generator.

9. Dry Cleaning Services

People are often too busy to do their own laundry. A lot of people also don’t have washing machines at home. Even if they do, they might not be able to wash, starch, and iron their clothes in a way that makes them look nice. Because of this, a lot of people use the services of a dry cleaner.

You can start this business from home if you have $200,000 to spend. You just need to make sure you always have water and electricity (buy a good generator) and a good place to dry the clothes.

10. Specialized Wholesale Business

You can sell spaghetti, detergent soap, rice, and other products in bulk. But you will need a place to keep these products and sell them to retailers. You will also need a way to move these products in bulk to and from your store. However, manufacturers and retailers can help you make these plans easily.

When you buy from a specialized wholesaler, you spend less money than if you bought a variety of products. When you buy a lot of something directly from the maker, you usually get a discount. Also, selling one product will cut down on the usual hassles of the retail business.

Conclusion

If you still don’t know what kind of business to start with $200,000, you could use the Business Yield Idea Generator. The Idea Generator is a great tool for people who want to get business ideas that are perfect for their situation.

The Business Yield Idea Generator is run by people, not by a set of algorithms or artificial intelligence. Based on the information you give, our experts do quick but thorough research.

It’s easy to use; all you have to do is answer a few quick questions, and the best business ideas will be sent to your email in less than 24 hours. This comes after you have carefully thought about your budget, where you want to live, your talents and skills, your availability, and so on.

With the information you send in and a small token, you will get a list of ideas based on a long feasibility study sent to your email. You will also have access to business plans, a business model canvas, and a 3-year financial analysis to help you get started with the business.

Which Business can i do with 200k in Nigeria

What are the most profitable small businesses?

  • Mobile kitchens.
  • People who clean cars.
  • Auto repair.
  • Trainers for people.
  • Services for new moms and babies.

What business will grow in 2022 in Nigeria?

  • Residential remodeling
  • Health care at home
  • Care for and work with animals
  • Digital events
  • Wedding companies
  • There are both local and online nurseries
  • tutoring and learning on the computer
  • Food delivery

What is a lucrative business?

Lucrative means making money, and it can be used to describe any business or activity that could make money. This means that an investment or business activity is considered profitable if it makes a lot of money.

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