20 Cheapest Businesses to Start in Nigeria 2023

If you wish to own a business but you have limited capital, here is a done-for-you guide on 20 Cheapest Businesses to Start in Nigeria.

Considering the rising interest in entrepreneurship within Nigeria, if you are one of the many aspiring entrepreneurs keen on starting your businesses but are often limited by financial constraints. 

In this blog post, we will discuss 20 Cheapest Businesses to Start in Nigeria

We will also provide insights and guidance on how to kick-start these businesses even with a limited budget.

List of 20 Cheapest Businesses to Start in Nigeria

1. Soap Making:

Soap making is one of the 20 Cheapest Businesses to Start in Nigeria

All you need to do is Learn the art of soap-making through online tutorials or workshops.

 Then acquire the necessary equipment and ingredients such as oils, lye, fragrances, molds, etc.

Develop unique soap recipes and start production.

 Package and market your soaps to potential customers.

 Consider selling through online platforms, local stores, or at trade fairs.

2. House Cleaning Services:

 Determine your target market and create a compelling service offering.

 Invest in basic cleaning supplies and equipment such as brushes, mops, cleaning agents, etc.

Advertise your services through word-of-mouth, local flyers, or social media.

Deliver exceptional and reliable cleaning services to build a good reputation.

3. Plantain Chips Production:

 This is one of the Cheapest Businesses to Start in Nigeria that you can start by sourcing high-quality unripe plantains in bulk.

Peel, slice, and fry the plantains to make crispy chips and Package the chips in attractive and hygienic packaging.

Start selling to local supermarkets, kiosks, or directly to consumers.

4. Sewing and Alteration Services:

  All you need to start this business is to acquire a sewing machine and basic sewing tools.

Offer sewing and alteration services for clothing items.

Promote your services through social media, local communities, or word-of-mouth.

Provide quality workmanship and timely service to attract and retain customers.

5. Fruit and Vegetable Retailing:

 This is one of the Cheapest Businesses to Start in Nigeria you can start by identifying reliable suppliers of fresh fruits and vegetables.

 Then Set up a small stall or mobile cart at a strategic location.

 Stock and display a variety of high-quality produce, use good customer service skills, and ensure product freshness.

6. Car Wash Services:

To start, Secure a suitable location with access to a water supply.

Purchase cleaning supplies like brushes, car shampoos, and polishing materials.

Advertise your services locally through flyers, signs, or social media.

Provide excellent car wash services with attention to detail.

7. Graphic Design Services:

This is one of the most popular yet Cheapest Businesses to Start in Nigeria

When you Acquire graphic design skills through online courses or self-study.

 Then invest in a good computer, design software, and other necessary tools.

 Showcase your portfolio on social media or create a website to attract clients.

Offer services such as logo design, branding, and digital illustrations.

8. Snail Farming:

You can research and gain knowledge on snail farming techniques.

Then Construct a suitable snail shelter or purchase ready-made pens.

Buy snail species that are suitable for farming.

Provide appropriate feeding, care, and a suitable environment for the snails.

Then Market your farm products to restaurants, supermarkets, and your consumers.

9. Popcorn Production and Sales:

Popcorn is one the Cheapest Businesses to Start in Nigeria you can start with or without a machine. 

Buy a popcorn-making machine and raw materials like corn kernels, oil, and seasonings.

Prepare different flavored popcorn variations.

Package the popcorn attractively and sell it through local retail outlets or at events.

Utilize social media platforms to promote and take orders.

10. Bead Making and Jewelry Design:

 You need to learn bead-making techniques through tutorials or training programs.

Then buy basic beading tools, beads, and materials.

 Create unique and stylish jewelry pieces and promote your products through social media, exhibitions, or local stores.

 You can as well offer customization and consider taking orders for special occasions.

11. Freelance Writing or Content Creation:

Starting a freelance writing or content creation business requires minimal upfront costs, 

with only a reliable internet connection, a laptop/tablet, and excellent writing skills.

12. Snack Retailing:

Snack retailing is one of the Cheapest Businesses to Start in Nigeria, yet an accessible venture that can be initiated with a modest investment. 

Setting up a small kiosk or mobile cart to sell popular snacks or street food items can be a great option.

13. Event Planning:

If you have excellent organizational skills and a knack for planning and coordinating events, starting an event planning business can be a cost-effective venture. 

You can work from home and gradually expand your business as you gain clients.

14. Tutoring Services:

Leveraging your knowledge and expertise, starting a tutoring service can be a rewarding and low-cost business. 

Whether you specialize in academic subjects, music, or language instruction, tutoring services are in high demand.

15. Photography:

With the expansion of social media platforms and a high demand for visual content, pursuing photography as a business can be both affordable and profitable. 

Begin with a decent camera and gradually invest in better equipment as your business grows.

16. Bed and Breakfast:

If you have a spare room or property available, converting it into a cozy and affordable bed and breakfast can be a viable business venture. All you need is to focus on offering exceptional hospitality and personalized experiences to attract customers.

17. Printing and Stationery:

Establishing a small printing and stationery business is also one of the Cheapest Businesses to Start in Nigeria with a minimal investment in equipment such as printers, laminators, and cutting machines. 

Catering to local schools, offices, and you can generate a steady stream of income.

18. Laundry Services:

Offering laundry and dry-cleaning services is an evergreen business opportunity. 

You can start small by handling customer orders from home, gradually expanding to a physical location as your customer base grows.

19. Mobile Phone Repairs:

With the increasing dependence on smartphones, starting a mobile phone repair business can be a cost-effective and profitable option. 

All you need is to acquire the necessary knowledge and tools and gain expertise in repairing various mobile phone models.

20. Affiliate Marketing:

Affiliate marketing involves promoting other companies’ products and earning a commission for every sale made through your referral. 

With minimal overhead costs, this online business opportunity is accessible to anyone with basic marketing skills.

Conclusion on Cheapest Businesses to Start in Nigeria

With these 20 Cheapest Businesses to Start in Nigeria ideas,  starting a business in Nigeria doesn’t have to break the bank. 

You can explore these affordable and lucrative businesses to kickstart your entrepreneurial journey with minimal financial constraints.

However, the success of your ultimately depends on your dedication, hard work, and providing value to customers.

FAQ about Cheapest Businesses to Start in Nigeria

Do I need specialized qualifications to start any of these businesses?

Most of the businesses listed here do not require specialized qualifications. 

However, having relevant skills and knowledge will definitely be an advantage.

How long does it take to see profits in these businesses?

Profitability varies depending on various factors such as market demand, competition, and your level of effort. 

With dedication and effective marketing strategies, profitability can be achieved within a reasonable time frame.

Are these businesses suitable for full-time or part-time efforts?

These businesses can be tailored to fit both full-time and part-time efforts. 

It allows you to start small and gradually scale up based on your availability and goals.

Are there any legal requirements or permits needed for these businesses?

While most of these businesses do not require specific permits, it is always advisable to research and comply with any local regulations or licensing requirements applicable to your chosen venture.

How can I ensure the success of my chosen business?

Success in any business venture requires careful planning, market research, effective marketing strategies, adaptability, and a customer-centric approach. 

However, continuous learning will significantly enhance your chances of success.

Can I start these businesses with partners or as a sole proprietor?

Yes, you can start these businesses as a sole proprietor or with partners. 

Consider your strengths and preferences when deciding whether a partnership would be beneficial for your chosen venture.

Is it possible to start these Cheapest Businesses to Start in Nigeria online?

Yes, several businesses mentioned, such as freelance writing, affiliate marketing, and event planning, can be established and operated entirely online.

How can I promote my business on a limited budget?

Utilize cost-effective marketing tactics such as social media marketing, content marketing, online communities, and networking events. 

Leverage free or low-cost advertising platforms to maximize visibility.

What steps should I take before starting any of these businesses?

Conduct thorough market research, develop a detailed business plan, create a budget, identify your target audience, and assess the competition. 

These steps will help you lay a solid foundation for your business.

How do I stay motivated during the initial stages of building my business?

Surround yourself with like-minded you, seek mentorship, join entrepreneurial communities or support groups, set achievable goals, celebrate small victories, and remind yourself of your long-term vision.