Starting a business in Lagos does not need millions. With just 20,000 naira, you can start a small business that will give you daily income if you are consistent.
I am writing this from my own experience as a small business owner in Lagos.
Here are 5 businesses you can start with 20k:
1. Yoghurt and Zobo Drink Production
This is what I do. With 20k you can buy milk, sugar, bottles and zobo leaves. One paint bucket of yoghurt can give you over 5k profit. People buy it every day because of the hot weather in Lagos. You can hawk in traffic, school or on WhatsApp.
2. Perfume Oil Business
Everyone wants to smell nice. With 20k you can buy 30-50 pieces of 3ml perfume oils like Oud, Baccarat, and Vanilla from Oshodi or online wholesale. You buy for 300 naira and sell for 700-1,000 naira. Ladies and guys love it and you can sell fast on WhatsApp status and in school.
3. Ladies Accessories Business
Buy earrings, lashes, lip gloss, hair bonnets and hand bangles with 15k-20k from Idumota or Balogun market. Ladies buy accessories every week. One fine earring you buy for 400 naira you can sell for 1,000 naira. Just post fine pictures on your status.
4. Mini Okrika (Fairly Used Clothes) Business
Go to Yaba or Katangua market with 20k. You can buy 20-30 pieces of first grade shirts or trousers. Wash, iron and sell each for double price on Instagram or WhatsApp status.
5. Food Pack Business - Noodles and Egg
Find a small corner in your area. With 20k you can buy a table, small stove, noodles, eggs and water or you can sell foods. Workers and students will buy every night. This business can give you 4k profit daily if your location is good and you can also post it on social media for more sales
Conclusion:
Don't wait to have big capital. Start small with 20k, be consistent for 30 days and reinvest your profit. That is how small businesses grow in Lagos.
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