Discover 5 profitable businesses you can start in Nigeria with ₦100,000. From drop shipping to coaching, explore ideas to turn your small capital into success
Indulge this quick story; A young woman named Ada had just graduated and found herself facing a tough job market. She had dreams and ambitions but only ₦100,000 in her savings. Instead of letting this amount hold her back, she explored creative ways to turn her limited capital into a thriving business. Ada wasn’t alone. Many Nigerians are in a similar boat, seeking extra income with minimal investment.
If you, like Ada, are staring at ₦100,000 and wondering how to make it work for you, here’s the good news: you can dive into numerous profitable ventures without needing a large fortune. These business ideas not only require a modest startup capital but also hold significant potential for growth. Whether you're interested in online retail, personal coaching, or something entirely different, there’s an opportunity waiting for you.
Below, we’ve outlined five promising business ideas that you can start with just ₦100,000. Each option includes a detailed cost breakdown and practical tips to get you started. Let’s roll!
1. Dropshipping Business
Dropshipping is one of the easiest ways to enter the e-commerce world with minimal investment. This business model allows you to sell products to customers without holding inventory. You simply list products from suppliers (e.g., AliExpress, Alibaba, Amazon) on your store or social media page. Once a customer places an order, you purchase the product from the supplier, who ships it directly to the customer. Your profit is the difference between the supplier’s price and what you charge your customer.
- Setting Up Your Business: ₦45,000 or ₦0
You can brand your dropshipping business for free using tools like Canva, but if you want a more professional touch, you can hire a designer on freelancing platforms for around ₦30,000 to ₦45,000. This will give your business a polished look. - Marketing & Ads: ₦50,000
Use social media to create ads, leveraging reviews and compelling product stories. Allocate about ₦50,000 for running ads on platforms like Instagram and Facebook, driving traffic to your product listings. - Purchasing Products: ₦0 of your money
Once you start receiving orders, you can use your Bitnob virtual card to purchase the products. The card creation fee is just $1, and the top-up fee is $1 for amounts under $100. This keeps your transaction costs low while giving you the flexibility to make secure online payments.
2. Selling Cute Lifestyle Accessories
Undergraduate students and young adults are always looking for trendy accessories that reflect their personalities. From phone cases and fashion items to cute stationery, these products are relatively affordable to source and can be sold at a profit margin of up to 50% or more. You can import these items in bulk from sites like AliExpress or Shein, where they are often sold at a fraction of the local market price.
- Product Sourcing: ₦50,000
Use ₦50,000 to purchase various cute lifestyle accessories from platforms like AliExpress. Items such as phone cases, jewelry, and trendy stationery can be bought in bulk. You can use your Bitnob virtual card to make these purchases securely. With Bitnob, card creation costs $1, and there’s a $1 top-up fee for amounts under $100, perfect for your bulk orders. - Branding & Advertising: ₦30,000
Create a professional online store or Instagram page, and design engaging posts using Canva. Spend the remaining ₦30,000 on social media ads, targeting undergraduates and young professionals who would be interested in your products. - Dummy Phones for Product Display: Starting from ₦20,000
Purchase dummy phones for displaying phone cases, ensuring a professional presentation of your products when advertising on Instagram or WhatsApp. These props will help improve the quality of your product photos, making them more appealing to potential buyers.
3. WhatsApp TV Business
A WhatsApp TV is essentially a niche media channel run on WhatsApp, where you promote products, advertise businesses, or entertain audiences. This business is ideal for those who enjoy networking and creating content, as most of your money will go towards maintaining a strong presence online.
- Data & Advertising Costs: ₦70,000
Invest ₦50,000 in high-speed data to ensure you stay connected and can engage with your audience consistently. Another ₦20,000 should be allocated for advertising your WhatsApp TV on other popular platforms to gain followers and increase your reach. - Miscellaneous Costs: ₦30,000
Use the remaining ₦30,000 for extra expenses like paying for contact partnerships and content creation tools to keep your WhatsApp TV engaging. You can use Bitnob’s virtual card to manage any online payments securely, ensuring smooth financial transactions as you build your channel.
4. Perfume Business (Preorder Model)
Perfumes are highly sought-after products in Nigeria. Instead of holding inventory, you can start a perfume business using a preorder model, where customers pay upfront, and you use the funds to purchase the perfumes from wholesalers. This approach keeps your risk low while allowing you to offer a wide variety of fragrances.
- Preorder Model: ₦0
Partner with perfume wholesalers and take pictures of their products for advertising on social media. Customers can place preorders, paying you upfront. With their payments, you purchase the perfumes directly from the wholesaler. This eliminates the need for holding stock and minimizes your financial risk. - Branding & Advertising: ₦40,000
Spend ₦15,000 to create a visually appealing brand using Canva. Use the remaining ₦25,000 to run social media ads (Instagram, Facebook, WhatsApp) promoting your perfumes and offering special deals on preorders. - Logistics & Miscellaneous: ₦60,000
The remaining ₦60,000 can be allocated to logistics, including packaging, transportation, and delivery to customers. If you need to purchase packaging materials or pay for shipping costs, Bitnob’s virtual card allows you to manage these payments easily.
5. Coaching Services
If you have expertise in a particular field, coaching services can be an extremely profitable business. Whether it’s fitness, personal development, career advice, or digital marketing, coaching allows you to monetize your skills with minimal upfront costs. Choose a niche you’re passionate about and can confidently teach—even in your sleep!
- Choosing Your Niche: ₦0
Think of a skill or subject you can easily teach. This could be anything from financial planning to fitness coaching or even digital marketing. Your knowledge is your primary product, and it requires no initial investment. - Building Your Online Presence: ₦40,000
Use ₦20,000 to create a simple website or landing page where clients can learn about your services and book sessions. Allocate another ₦20,000 for branding and advertising on platforms like Instagram, LinkedIn, and Facebook, where you can reach your target audience. - Tools & Resources: ₦0
Spend Zero naira on essential tools like Google Meet for video coaching sessions and Google Calendar for easy client scheduling. - Promotion & Client Retention: ₦40,000
Allocate ₦30,000 for ads on platforms like Instagram and Facebook to reach potential clients. Use the remaining ₦10,000 for building trust through free consultations, hosting webinars, or creating valuable content that attracts clients. You can also offer premium coaching packages or digital courses to increase revenue.
This is your Cue to Start that Business Now
With just ₦100,000, you can start a range of profitable businesses in Nigeria. Whether you’re interested in dropshipping, selling accessories, or offering coaching services, these ideas provide opportunities to grow and succeed with minimal investment.
In all of these, using the Bitnob virtual card simplifies the process of buying products internationally, paying for meta ads, or subscribing to a premium version of your preferred business scaling tools. Ready to get started, download Bitnob now and create a virtual card.