Local businesses you can do with 500000 in Nigeria

Looking for a local business you can do?

But can’t figure out where to start?

Then you’re in the right place. If you can read the article in it’s entirety, we shall offer you some of the local business you can do with 500, 000 naira.

But the realities are serious.

The idea of having a white collar job after graduating is a thing of the past.

However, many young men and women are looking for some of the local business they can invest in.

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This is true by some of the frequently questions many ask when they visit our website. Questions like:

  • What are the local business I can do?
  • What local business can I do with 500000?

Are among the frequently questions we get always.

We’ve decided to answer the question by giving you some of the local business you can do in Nigeria.

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The good thing is….

All the local businesses we want to show you can be done locally. In other words, raw materials and resources for doing the business can be found locally.

Even though this article is not a financial advise, but a way to share with you some of the local business you can do with 500000.

But note….

Even though this local businesses can be started with 500000, you’ll need to take it as a business. This is because we’re not offering you local business that’s a get rich quick scheme.

Success in business comes in as the business grows.

Now that we’ve establish that, let’s dive into the local business you can do with 500000.

Local business you can do with 500000

  1. POS Business

POS business is an agent banking business. This business involves the withdrawals of funds, transfer of funds, payment of utilities (like power bills, water etc), sales of recharge cards, digital television subscription and so on.

This business is part of the financial services offered via a financial institution (example the banks).

However, the POS business thrives in areas where there are no or limited banks and ATM(s). this is because people will need to either transfer, withdraws and or make payments for goods or services.

To start this business you’ll need to get a host. The host is the financial institution you intend to use and extend their services to your customers.

Some of the good host available in Nigeria today are:

  • First Bank
  • FCMB
  • Quickteller

Then go get a POS machine which you’ll use. This will cost you about 85, 000 to 100, 000 naira.

Then find a suitable location you intend to locate the business.

Put your banner that outlined what your POS business offers.

Generally, in a POS business, the charges depends on the transaction and the type. But for charges, it starts from 50 and up to 300 naira. For recharge cards, it’s charged free.

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To avoid competition, make your charges to be competitive.

  1. Disc Jokey (DJ)

The Disc jokey business is huge. This form of business provides sound during wedding receptions, political campaign, party, outdoor events and many more.

The business will require investing in some sound equipments like sound mixer, microphones, generator, speakers, connecting wires.

Even with the best of equipment, this business requires learning certain technical skills before going into it full time.

The price per show will depend on the duration of the show and the distance. For instance, the price of a 10 hours programme and outside your location cannot be the same as that of a two hours programme in your location.

  1. Business centre

Everything has been shift to online. Job recruitments, school application, payment and much more. The only challenge is, not many people can go through the process.

That has opened an opportunity for business where you can offer the service for people. Offering such a service will require you to have a deal of knowledge computer and online knowledge.

You’ll need a office, laptop/desktop computer, printer and internet connectivity. The internet connectivity should be from a reliable provider and fast to  avoid service disruption during registration.

Other services you can provide using your business center are typing, printing, photocopying and binding.

  1. Egusi farming

This might be another farming that’s overlooked but it’s really one of the lucrative form of farming you can undertake. That’s when done right and the farming practices are followed.

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There’s a full article about the complete steps to start egusi farming in Nigeria.

  1. Foodstuff business

Foodstuff business is one of the oldest and fast moving business anywhere in the world, including Nigeria. Everyday people eat in other to get the necessary energy and nutrients to survive.

Despite the fact that this business is great, certain foodstuff are more desireable in one location than the other.

There are two forms of the foodstuff business you can venture into.

  1. The perishable foodstuff business. This form of business requires that you sell items that may not last more than two days without spoiling. Examples are fruits, veggies, meat etc.
  2. The non perishable foodstuff business. This foodstuff can stay a longer time without perishing. Such items are rice, beans, melon, peanuts, Bambara nuts etc.

No matter which form you choose to start, ensure that such foodstuff is among the most popular and stable food in that location. Only then will your business thrive.

  1. Mini abattoir

The need for good quality meat have make people seek for options elsewhere. Having a mini abattoir will attract people who know they can get the best healthy quality meat in your abattoir.

The key to success in a abattoir is the ensure you have a healthy working environment and meat always.

  1. Dry fish business

One advantage of dry fish is it’s easy to store for a long time. That’s why people love dry fish. Starting this business is easy and pretty straight forward.

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Buy or grow fish, then you can smooth it or pay someone to do it on your behalf. Then packaged the dry fish and begin to sell your fish.

  1. Backyard garden

Many underestimate their backyard. Some of it are just laying dormant.  But what if I say you can turn it into a mini backyard garden? Well that’s entirely possible.

Your backyard can be a goldmine. You can turn your backyard into a garden and grow many vegetables and fruits which you can sell the proceeds to household in your immediate community. It could be tomatoes, spinach, cucumber, lettuce etc.

You can equally turn your backyard into a poultry or fish farm as well. This way you can be sure you’re utilizing your backyard.

  1. Farming products

Farmers requires several farm implement to use. Take advantage of that and provide the necessary farming products. This could be seedlings, fertilizers, herbicides, pesticides, inoculants and so on.

  1. Delivery/conveying van business

Not all business have delivery or conveying van. Some deliver products, others need it to convey their working tools to their work location.

You can provide the service of delivery to the business location of your customers. This form of business can be a 247 business.

4 ways to grow your local business fast

Even though this is not part of our local business, but it’s just a bonus to help you get started. That’s why we’re offer our top four ways to start growing your business fast.

  1. Advertising

No one will know your business if you don’t advertise. I found that many people tend to skip this method because they think it’s expensive.

Not all the methods are expensive. You can start slowly and scale it up. To ensure people found your business, here some of the ways you need to advertise your business.

  • Word of mouth. This way you can talk to family and friends about your new business.
  • Send sms. Ask your friends about contact phone number of your friends and family. So that you can equally send them an sms about your business.
  • Use social media. Let people know about your product or service via facebook, twitter, instergram, whatsapp etc.
  1. Branding

  2. Giving incentives

  3. Sponsor an event

What age is your business targeting? Use that to your advantage by sponsoring an event especially if the event is targeting those potential customers within the target age.

Final thoughts

Even though the business discussed above are not a get rich quick scheme, you will need to take the business one step at a time and success will certainly come slowly.

Which other business can you add to the list, feel free to share it in the comment section.

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2 Responses

  1. sifon udoh says:

    Nice writeup. The content is easy to understand, and any Nigerian willing to make money does not have an excuse. Keep up

  2. Alozie ikye says:

    Good to digest.

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