Best businesses to start with N200K in Nigeria in 2024
With 200k, you can start a feasible business in Nigeria.
Today, I will be sharing with you the best businesses to start with N200K in Nigeria that have great profit potential.
So let’s get into it.
Table of Contents
Best businesses to start with N200K in Nigeria in 2024
1. Soap and Detergent Production
Soap and detergent production involves making various cleaning products, including bar soap, liquid soap, and detergents.
You can manufacture soap and detergent products and sell them to wholesalers, retailers, or directly to consumers.
This business is a profitable one, because everyone needs soap or detergent in one way or the other, either to bathe, wash and clean. It is a highly demanding product in Nigeria.
2. Sell Eggs
Egg business is one of the best businesses to start with N200K in Nigeria in 2024.
With 200k, you can purchase eggs in bulk from local farmers or poultry farms and distribute them to retailers, small kiosks, or individuals.
Egg is a profitable business in Nigeria because of its nutrient value.
Always make sure that you maintain proper storage and handling of the eggs for freshness.
3. Pastries Business
Open a small snack stall if you are looking for the best businesses to start with N200K in Nigeria, it is also a lucrative business idea to start.
This business offers popular Nigerian snacks like meat pie, cake, and fries like puff-puff, buns, egg rolls, chin-chin, etc.
You can set up your stall at school areas, markets, or busy street corners.
4. Foodstuff Business
The foodstuff business is one of the most lucrative businesses to start in Nigeria right now. This business is profitable because of its high demand.
Everybody in Nigeria eats food and there is no day people don’t buy one or two foodstuffs to cook in their various homes. This is one of the best businesses to start with N200K in Nigeria in 2024.
5. Open A Car Wash
With 200k, you can rent a space, get a water source and start a mobile car cleaning service.
You can even provide on-the-go car wash and detailing for customers at their homes or offices. This business is profitable because of the rise in cars across Nigeria.
6. Groundnut Oil Business
Groundnut Oil is also among the best businesses to start with N200k in Nigeria, because of its high demand and benefits.
Most homes in Nigeria use groundnut oil for their cooking and frying including hotels, restaurants and bakers. Due to its benefits, it made groundnut oil a profitable business.
7. Bag Business
Bag is one of the most selling businesses in Nigeria, the good thing is that both men and women use bags, so you need to choose the type of bag business you want to start.
You can even sell both men’s and women’s bags.
The bag business is indeed a profitable business to start with, just find a good location and visit one of the markets where bags are cheap, e.e the Aba market.
Buy from manufacturers and resell to retailers and consumers.
8. Hair Salon
Start hair salon services, bringing haircuts, styling, and beauty treatments to clients at your shop and their homes too.
Set up a mobile hair salon that offers clients who prefer the convenience of hairstyling services at their doorstep.
9. Baby Accessories Business
Baby Accessories is one of the best businesses to start with N200K in Nigeria right now.
This is because people give birth every day and they must buy baby products for their newborns, it is inevitable.
You can start selling baby clothes, baby feeding bottles, baby toys, baby wardrobes, baby soap, and creams. There are so many of them to sell, just choose the one that is best for you.
10. Ankara Business
This business is another form of clothing business that deals with a wrapper called Ankara. Both men and women use this material to sew different types of traditional styles.
Because of the high demand for this material, it made it a lucrative business, and with 200k, you can rent a shop in a busy area, buy goods wholesale and start selling to customers.
11. Dried Fish Production
Dried fish production involves buying fresh fish and processing them into dried fish, which is a popular ingredient in Nigerian cuisine.
You can purchase fish in bulk, dry and package them for sale as a snack or cooking ingredient. With 200k, you are good to go in this business.
This is arguably one of the best businesses to start with N200K in Nigeria in 2024 if you have that amount.
12. Shoe Business
Selling shoes is also among the best businesses to start with 200k in Nigeria. This business is profitable because of the large number of people that wear shoes in Nigeria.
In this business, all you need to do is find a good location and visit any of the cheap markets where you can buy shoes at a cheaper price.
13. Tailoring Accessories
Tailoring accessories involves sewing and selling items like ties, bowties, pocket squares, needles, thread and scarves.
You can start this business by buying all the tailoring materials wholesale and reselling them to tailors around your area.
You can also design and sew custom-made wear using colorful African fabrics and patterns, selling them online and at local fashion events.
14. Sell Spicy and ingredients
You can invest your 200k in spices and ingredients, it’s also a good business to start with. Get a shop and buy these products from manufacturers. It is a profitable business because of its high demand.
It would be nice if you could produce a range of spice blends, such as Nigerian suya spice mix, jollof rice seasoning, and meat seasoning and package them for sale, you can sell them to consumers, hotels and restaurants.
15. Plastic Recycling
The plastic recycling business is also one of the best businesses to start with N200k in Nigeria which involves collecting and recycling plastic waste into sellable products or materials.
Set up a plastic recycling unit, collect plastic waste from households and local businesses, and recycle it into pellets for sale to manufacturers.
16. Sachet water production
This involves purifying and packaging clean drinking water in small plastic sachets. You can set up a small water purification and packaging unit to produce sachet water for sale to local retailers, street vendors and consumers.
This business is profitable and feasible on a small scale with 200k. People drink water daily and this is one of the reasons why it’s profitable and highly demanding
17. Home Cleaning Services
Begin a home cleaning service by offering house cleaning to busy households. You’ll need basic cleaning supplies and equipment to provide thorough cleaning services.
With 200k, you can start a home cleaning service that offers weekly, bi-weekly, or monthly cleaning packages to residential clients.
18. Phone Accessories Business
Another one of the best businesses to start with N200K in Nigeria in 2024 is the phone accessory business.
Phone accessories are among the best businesses to start with N200K in Nigeria in 2024.
You can start a small retail shop selling mobile phone accessories such as phone cases, chargers, screen protectors, and headphones.
With 200k, you can open a mini phone accessories store in a high-traffic area, offering a wide selection of accessories for various phone models.
19. Honey Production
Local honey production focuses on beekeeping and the sale of honey and beeswax products. You can set up beehives, harvest honey, and package it for sale.
Start a small-scale honey production business, collecting honey from your beehives and selling it at the markets and health food stores.
20. E-Waste Collection
E-waste collection involves collecting electronic waste such as old computers, phones, and appliances.
Start an e-waste collection service where you pick up old electronic devices from homes and businesses, ensuring they are properly disposed of or recycled by selling them to recycling companies.
21. House Painting
House painting is also one of the best businesses to start with 200k in Nigeria. Its services include providing interior and exterior painting services for residential and commercial properties.
You’ll need basic painting equipment and skills before you can start house painting. Look out for customers who want to freshen up their properties with a new coat of paint.
Woodworking businesses involve creating and selling handcrafted wooden furniture, decor, or toys. You can use your woodworking skills to craft unique wooden items.
Design and craft custom wooden furniture pieces, such as chairs, tables, and cabinets, and sell them to local buyers or at craft fairs.
If you don’t have the skill to start making them, you can buy already made ones and set up a shop where customers can find you, so that you can resell to buyers.
23. Laundry Services
Start a laundry and dry cleaning service where you offer to clean and press clothes for customers. You’ll need washing machines, dryers, and ironing equipment.
With 200k, you can set up a laundry service that provides washing, ironing, and dry cleaning for individuals and businesses in your local area.
24. Phone repair services
Phone repair services are also one of the best businesses to start with N200k in Nigeria if you already have the skill.
Start by renting a shop around a busy area, get all the necessary equipment needed for your repairing services and start repairing phones for customers.
25. Tutoring services
If you’re fluent in local Nigerian languages, offer tutoring services to individuals who want to learn or improve their language skills.
Provide one-on-one or group tutoring sessions to individuals seeking to learn Yoruba, Hausa, or Igbo languages.
With 200k, you can rent a space, print flyers and buy all the necessary equipment to be used in the teaching program.
26. Laptop Repair Services
Start by offering laptop repair services to students and workers around your area, specializing in diagnosing and fixing issues with laptops such as screen replacement, hardware upgrades, and virus removal.
With 200k, you can get a shop in a busy area like the student area, you can also buy laptop repair tools and start this business.
27. Generator Repair services
If you are still looking for one of the best businesses to start with N200K in Nigeria, this is the time to start a generator repair if you have the skill, but if you don’t have the skill, you can employ someone who has the skill.
Launch a mobile generator repair service that travels to homes and businesses to diagnose, maintain, and repair generators on-site for customers who rely on generators for power backup.
Photography services involve snapping people for various occasions, including weddings, birthdays, and other events.
With 200k, you can rent a shop, buy high-quality cameras with other equipment, and establish a studio where you can offer your services to individuals and businesses.
29. Event Planning
Event planning is also one of the best businesses to start with N200K in Nigeria which involves organizing and coordinating events such as weddings, parties, conferences, and corporate gatherings.
Start an event planning business, specializing in organizing weddings and special events, and offer comprehensive event planning services.
30. Organic Fertilizer Production
Are you still looking for the best businesses to start with N200k in Nigeria? Try investing in organic fertilizer products by composting organic materials like kitchen waste, plant trimmings, and manure.
These fertilizers can be sold to local farmers and gardeners looking for natural soil enrichment. You can create organic fertilizer blends and sell them in small bags.
31. Estate Agency
Estate agencies help people buy, sell, or rent properties such as houses, land, and commercial spaces.
You can become a real estate agent, connecting property buyers and sellers and earning commissions on successful transactions.
32. Interior Decoration
The rise of events in Nigeria like weddings, birthdays, and others, made interior decoration a profitable business.
Interior decorator enhances the aesthetics of homes and offices by selecting suitable furnishings, colors, and decor.
You can offer interior decoration services, helping clients create stylish and functional living and workspaces.
33. Solar Panel Installation
Solar panel installation is also one of the best businesses to start with N200K in Nigeria especially now that there is a rise in the price of fuel in Nigeria.
With 200k, you can acquire the knowledge, buy installation equipment, print flyers and start setting up solar power systems for homes and businesses.
Solar panel installation services are profitable business because it help customers reduce their energy costs and move them to clean energy sources.
Here you have it for the best businesses to start with N200K in Nigeria in 2024.
Before considering any of the above businesses to start with N200K in Nigeria, you need to find a good location first, because location is the primary reason why most businesses succeed or fail in Nigeria.
With the above business ideas, it’s important to choose the business that best fits your preference or the one you have passion for, also the one that is highly profitable.