8 Important Hints on how To Setup a Business With Little Capital

8 Important Hints on how To Setup a Business With Little CapitalStarting a business or better, entrepreneurship is the way to continue in Nigeria with our current economic realities.

Millions of Nigerians have ventured into a company recently.

Most of the 37.07 million micro, small and medium enterprises, EMMs in Nigeria, are actually more than 84 per cent of the jobs in Nigeria.

1. Apartments with short stay / serviced apartments

If you know Brain Chesky’s Airbnb, you’ll get an idea of ​​how a short apartment works.

Like a hotel, a short-term apartment is a fully equipped apartment for short or long-term stays.

The apartment also offers services such as room service, cleaning service, a gym, a laundry room and a room.

What sets them apart from hotels is that serviced apartments are like personal homes.

Most are equipped with full kitchens, WiFi and washing machines in the apartment, hairdryer and other services in a house.

Because they are more welcoming than hotels, it comes at more expensive prices and that’s when the business comes in.

If you have a good apartment, especially in Lagos, you may want to consider keeping it in a suitable apartment; list it on Airbnb or other platforms like Homeaway or Booking.com is already starting to make money!

2. Mobile food seller

Food is the most important human need. Therefore, any type of food business is therefore almost always a profitable business, especially if you learn the business model and strategy.

There is a fast-growing food business now, though not new. This is a mobile food vendor.

How it works, instead of renting a space, a food business sells food at a mobile kiosk in a specific location. The kiosk can only provide removal services and no offer to sit and eat.

The good thing about this business is that you don't have to pay any rent. You may only need local approval for your space. Once you get a luxury kiosk, you will not have to incur any other expenses.

The mobile food retailer is certainly a business that can be started with little capital and is also profitable.

3. Start a yoga studio

Yoga is rapidly gaining acceptance in Nigeria, why not pay for the new trend? Yoga is a group of physical, mental, and spiritual practices or disciplines from ancient India.

Many fitness enthusiasts consider yoga to be a good exercise for the mind. Still, there are now a few yoga studios, though the need for this is increasing.

This is where the advantage lies; There is a big market and so far less competition.

If in 2020 you like yoga and fitness and are looking for a profitable business, then why not a yoga studio?

4. Anti-aging spa

If you can do something to make it look younger and within your reach, are you willing to do it?

If you answered yes, no doubt many people will answer yes.

So, if you’re in the beauty industry, why not open an anti-aging spa?

You definitely want to choose your site. A company like this cannot thrive in an area like Agege, where people find daily food.

But a place that is Ikeja on the mainland, Magodo and many areas of the island of Lagos would be suitable.

5. Wellness line

There is this movement of “organic matter” between blacks abroad and abroad that is gaining a lot of momentum. Nigerians are not left out!

Acquire a smooth smooth skin and stop being the reserve of rich celebrities who can afford to spend money on expensive imported ice cream.

Even with a minimal budget, any beauty conscious Nigerian can buy custom eco-friendly skin products and get glowing skin.

There is now a huge demand for organic skin products and other organic products; you need to make money with the trend before it cools down.

6. Bakery

This is a company I would personally recommend to anyone looking for a more lucrative non-profit company.

Every 10 million loaves of bread are consumed every day in Lagos, Nigeria. Think about the amount of bread consumed each day throughout the earth.

This is not surprising. Bread is one of the most common staple foods in Nigeria, along with rice and cassava flakes.

If you are considering doing business in Nigeria, it is the best option to start a bakery. It is one of the most lucrative businesses you can do in Nigeria with minimal capital.

You can earn up to N 2 million a week selling only 50,000 loaves.

The latest Wealthresults guide on how to start a bakery in Nigeria is all you need to start your own bakery business.

7. Animation expert at Fiverr

Have you heard of Fiverr? Okay, I'll help you. Fiverr is the largest digital services market in the world.

People looking for digital services like graphic design, infographics, content writing, WordPress designers, programmers, keyword research, video animators, and more. Visit the website - Fiverr - to find providers of these services at an affordable price.

So if you have one or more of these digital skills, why not go to Fiverr and offer your skills in exchange for making money?

Like I said, there are a lot of digital skills that you can sell to people looking for them on Fiverr, but some of the most popular services are animation, which is creating whiteboard animation, speed drawing, and so on.

If you have animation skills, skip this A.S.A.P! You’re on your way to earning even your first job of hundreds of dollars.

Making money on Fiverr is one of the most blatant ways to make digital money in 2020.

8. Sales and installation of solar energy

From the latest statistics, electricity production in Nigeria reached 8,441 GWh. Compared to the 1,110,800 GWh of Russia or the 4,460,800 GWh of the United Nations, Nigeria is a very good reason!

With the supply of epileptic electricity across the country, it is desirable that any alternative to the supply of electricity thrive, especially if it is affordable.

It is not uncommon for solar power generation, sales and installation to be a lucrative business idea in Nigeria.

I believe that this business world is largely untapped by the energy population that Nigerians need. If you are well-structured, you can benefit from solar energy sales and the facility industry.

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