Today, we will be discussing the 10 lucrative business to start with 1 million in Nigeria. Believe it or not, Nigeria is a very rich country. The problem is not that we don’t have money, the problem is that we don’t have enough good ideas on how to spend or invest our money.
In this article, we will be discussing some lucrative business ideas that can be started with just 1 million Naira. These businesses are not only lucrative, but they are also businesses that can have a positive impact on our society.
Are you looking for a business to start with 1 million naira in Nigeria? If YES, you should continue reading as I’ll explain in detail with relevant examples of the type of business you can start in Nigeria with 1 million Naira or more.
Starting a business is one of the best ways to make money in Nigeria. It is a good way to become your own boss and to make money doing something you are passionate about.
One of the common challenges people face when planning to establish a business is the type of business they can start with a particular budget.
As you already know there are many businesses you can start with 1 million naira in Nigeria. However, not all businesses are equally profitable.
So In this article, we will share with you 10 lucrative businesses to start with 1 million in Nigeria. Don’t forget to share this article with friends and relatives when you are done reading. You can equally make contribution regarding this topic using the comment section.
10 Lucrative Business to Start with 1 Million in Nigeria
Table of Contents
If you want to learn more about the business to start with 1 million in nigeria, endeavor to read further as I explain in detail each of the business.
1. Mini Pickup Conveyance Business
Mini Pickup Conveyance is one business you can start with 1 million in Nigeria that can generate you 20,000 to 40,000 Naira everyday. According to Okpara Ijezie Kingsley, It is another kind of conveyance business but not the type you are familiar with it.
This business will surely put food on the table no matter the family size and it’s not stressful at all.
With just two or three movements in a day, you are certainly sure of at least 20,000 Naira everyday .
It’s a like mini haulage and logistics business but not Keke, not transportation with bus .
The business is called MINI PICKUP CONVEYANCE BUSINESS. Just as it appears on the screen, I have studied people who are doing the business and they are living large.
This car, mainly seen around Timber markets, help people convey their products from the point of purchase to the point where they are used.
They are convenient to use and goods easy to offload that people prefer to use them .
Let’s assume someone bought 50 bags of cement, of course keke will be too small and medium truck will be very expensive, hitherto this mini pickup truck.
If somebody wants to move medium size building material this will do the work
If someone is relocating from his house, this truck will do the work .
If someone wants to move bunch of fruits this truck will do the work
If there is no vehicle to move provision shop items, this will do the work.
Market women who buy foods from villages need the services of this truck
The demand for this vehicle is very high because only few people think towards this line. Almost everybody is thinking of keke and unfortunately keke business has become so rampant that keke drivers no longer make money as usual .
How Much Is This Short Truck
You won’t believe how cheap this car is.
To buy a direct fresh Belgium of this mini pickup truck, it will cost you between 1.5 to 1.8 million Naira.Yes, its that cheap.
THERE ARE MANY MINI MINI PICKUP TRUCKS IN NIGERIA BUT THE MOST COMMON IS SUZUKI AND THE PARTS ARE READILY AVAILABLE EVERYWHERE.
How Much Do They Charge For A Drop
The drivers charge for a drop between 10k to 45k depending on the distance, load and road accessibility. so you can imagine working for just 3 to four persons in a day you will be making at least 20k gain and you know what your duty is only to drive . You can hire a work boy who will be carrying the goods into and out of the truck whilst you pay him monthly or daily .
Why Did I Recommend This Business For You?
1. Even if you want to drive this car high purchase, you will still make it big because the competition is very minimal
2. This business is very good for a family man and a bachelor and will surely bring food to you and family, even build your house.
3. Fuel consumption is very small and parts are also cheap and easy to find.
4. The car is very durable and repair is also easy.
5. This business is very lucrative, you can make at least 20,000 profit everyday.
6. It maintains your self esteem. people don’t see you as AGBERO driving this car
How Do I Get This Mini Pickup Truck
To Get This Mini Pickup Truck, Kindly Visit Any Car Shop In Surulere Or Other Parts Of Lagos. This type of vehicle can also be found in Kano state at cheaper rate.
Starting a business is a great way to create wealth and provide employment opportunities for others. Nigeria is a country with vast opportunities for entrepreneurs to make a difference in their communities. With a million naira, there are several business opportunities you can explore, and in this article, we will be discussing the top 10 businesses to start with 1 million naira in Nigeria.
2. Cooking Gas Business
The cooking gas business is a lucrative business to start with 1 million in Nigeria. This business involves the sales and distribution of cooking gas to households and businesses. With Nigeria being a gas-rich country, this business is bound to thrive.
To start your cooking Gas Business, you need to register your business with the Corporate Affairs Commission (CAC) and obtain a license from the Department of Petroleum Resources (DPR). You also need to find a reliable supplier to purchase your gas from, and you will need a truck for delivery.
With effective marketing strategies and excellent customer service, this business can yield good profits. You can follow this step By Steps Guide On How To Start Cooking Gas Business In Nigeria. This article has all the details need for the business to be successful.
3. Open a Restaurant/Eatery
The restaurant/eatery business is another lucrative business idea that you can start with one million naira in Nigeria. Nigerians love to eat out, and the demand for quality food is high.
To start, you need to research your target market and find a suitable location. You also need to create a menu and find suppliers for your ingredients. In addition, you will need to employ a competent chef and other staff.
With excellent customer service, quality food, and an inviting atmosphere, your restaurant business can thrive and generate significant profits.
4. Car Dealership Business
The car dealership business involves the buying and selling of cars. It is a profitable business that to start with 1 million in Nigeria. With the increasing demand for cars in Nigeria, the car dealership business has the potential to grow rapidly.
To start, you need to find a reliable source for buying cars, register your business with the CAC, and obtain the necessary licenses. You will also need to rent or buy a showroom to display your cars.
With effective marketing strategies and exceptional customer service, your car dealership business can become very successful.
5. Phone Dealership Business
The phone dealership business is another profitable business that you can start with one million naira in Nigeria. This business involves the buying and selling of mobile phones, accessories, and other electronics.
To start, you need to research your target market, find a reliable supplier, and rent or buy a shop to display your products. You also need to obtain the necessary licenses and register your business with the CAC.
With excellent customer service and a wide range of quality products, your phone dealership business can thrive and generate significant profits.
6. Poultry Farming
Poultry farming is a lucrative business that you can start with one million naira in Nigeria. This business involves the rearing of chickens, ducks, and other poultry birds for meat and egg production.
To start, you need to research the market demand and find a suitable location for your farm. You also need to build suitable housing for your birds and buy quality feed and equipment.
With effective marketing strategies and proper management practices, your poultry farming business can yield good profits.
7. Open a Cosmetics Shop
The cosmetics shop business involves the sales of beauty products such as makeup, skincare, and hair care products. It is another profitable business to start with 1 million in Nigeria.
To start, you need to research your target market and find a suitable location for your shop. You also need to find reliable suppliers for your products and obtain the necessary licenses to operate your business.
With a wide range of quality products and excellent customer service, your cosmetics shop business can thrive and generate a reasonable amount of income.
8. Sales of Motorcycle Spare Parts:
The sales of motorcycle spare parts business is a profitable business in Nigeria as motorcycles are a common means of transportation.
To start this business, you need to have a good location, be able to source for quality spare parts, and have a good marketing strategy.
With a million naira, you can start by leasing a space, purchasing inventory, and advertising. As the business grows, you can invest in more inventory and employ more staff.
9. Open an Agro Store:
The agro store business is a profitable business in Nigeria as agriculture is a major sector of the economy.
To start this business, you need to be able to source for quality agricultural inputs such as fertilizers, pesticides, and seeds, and have a good location.
With a million naira, you can start by leasing a space, purchasing inventory, and advertising. As the business grows, you can invest in more inventory and employ more staff.
You can also consider expanding into offering agricultural advisory services to farmers in your community.
10. Printing Press Business:
The printing press business is a profitable business in Nigeria as there is always a need for printing services.
To start this business, you need to have a good understanding of printing technology, be able to source for quality printing equipment and materials, and have a good location.
With a million naira, you can start by leasing a space, purchasing equipment, and advertising. As the business grows, you can invest in more equipment and offer a wider range of printing services.
11. Laundry and Dry Cleaning Business:
The laundry and dry cleaning business is a profitable business in Nigeria as most people do not have the time to do their laundry. To start this business, you need to have a good location, be able to source for quality equipment and materials, and have a good marketing strategy.
With a million naira, you can start by leasing a space, purchasing equipment, and advertising. As the business grows, you can invest in more equipment and employ more staff.
Conclusion:
Starting a business with a million naira in Nigeria is very achievable. The businesses listed above are just a few of the many profitable business opportunities available in Nigeria.
It is important to conduct proper research and have a good business plan before starting any business. With hard work, dedication, and a good strategy, any of the businesses listed above can be a success.