13 BUSINESSES YOU CAN START WITH MINIMAL CAPITAL

1. FISH FARMING

Fish is the cheapest source of animal protein and because of its low cholesterol level it is medically recommended as a good food for both the young and elderly.

Fish farming in Nigeria is currently a very lucrative business and this is boosted by the continuous rise in the demand for Catfish. It is an Untapped Goldmine waiting for those who can see.
The demand for fish according to the federal department of fisheries (FDF) was 2.1 million tons in 2007 while domestic production was 600,000 tons.

This deficit was partly augmented by massive importation of fish of about 900,000 tons valued at over $800 million dollars. This is a big drawback on our scarce foreign exchange.
This still left a huge deficit of 600,000 tons, hence the concerted effort to ensure self-sufficiency in fish production through aquaculture in Nigeria.

The demand for Fish in the country is currently estimated at about 2.66 million tons annually, as against the local annual production of just 780,000 metric tons, giving a demand-supply gap of about 1.8 million tons. It is very clear that the demand is far higher than supply. What do you see as an entrepreneur? Business opportunity!
According to the Norwegian Ambassador to Nigeria, “Nigeria imports fish especially stock fish from Norway, worth over N109.2 billion Naira ($700million dollars) annually”.

In a May 2012 report, the Chairman of Fisheries Society of Nigeria (FISON) Rivers State chapter, Dr. Awoteinm George revealed that “Nigeria produces just 40 percent of the total Fish consumed in the country”. In other words, a 60 percent local production market is waiting for entrepreneurs to fill.

Aquaculture has been estimated to have the potential of producing 2.5 million tons, which if fully harnessed will almost satisfy the local demand for fish in the country. You could take opportunity of this high demand for fish and start a fish farm today.
This could be that business that would make you a millionaire.

The truth is agro-based businesses are very profitable because they meet man’s basic need-Food. You could start and operate your fish pond right in your backyard, compound or garage. What are you waiting for? Fish and Grow Rich in 2013!

Sorry guys for being unable to update this thread for awhile; i have been so busy with business and Church activities. But now I'm back.
Let's continue from where we stopped!

2. MINI-IMPORTATION BUSINESS USING THE INTERNET
0ne business that will make a lot of smart people Millionaires this year, is the business of importing goods into Nigeria right from the comfort of your home using your computer; and if you don't have one you can operate from a Cafe.

This business is simple and the start up capital is very minimal, yet with a high profit margin. you can start this business with as little as 20, 000 naira.

All you need do is to carry out your research so as to know where to buy, what to buy and how to sell your goods.

Where To Import
The internet has made life and business simple, and websites like WWW.Alibaba.com and aliexpress.com has made it easy for smart entrepreneurs to go into the importation business.
It is now possible to buy goods at the comfort of your home working with your computer and get it shipped to you here in Nigeria.

There are lots of items on display on these websites that you can easily import into the country and sell them for good profit.
and don't worry about payment method; thanks to GTB and UBA, you can easily pay for your goods online using the GTB Naira master Card or UBA AfriCard. These cards are accepted on these websites.

What To Buy
There are lots of inexpensive products on display on aliexpress.com that you can import and sell at a hundred percent profit. There are products like jeweleries that go for as low as $2 dollars; you can sell at 1000 naira (which is a give away).

The most important thing is to study your environment to find out what will sell fast, then import small quantity to test the market.

How To Sell Your Imported Goods
A lot of people don't like selling, but ironically life itself is a market place and to survive you've got to sell something; even a job applicant to an organization will have to market his potentials and credentials in order to get the job, and when he is employed he gets paid because he sells his Time and Skills to the organization.

even in a relationship a guy will have to market himself and prove that he (the product) is the best for the girl.
Now selling your imported goods is just simply the application of strategy; there is no effective sales without a good strategy. one very effective sales strategy you could use is to Create a network for your business...create a chain of sellers that will sell your goods at a commission. This strategy will enable you to sell your stuffs fast.

hey donald, tnx 4 your updates so far. .these are gr8 biz ideas. .cant wait 4 u to post more. .I wil like to get more info 4rm u abt these biznesses since you reside in abuja too. .my email is mef.tical@yahoo.com God bless u.

@op,u are just good.pls continue

WHAT A GREAT AND WISE THREAD.PLEASE SEND ME DETAILS ON concordetz@yahoo.com.

nice one pls keep posting

Tx op this is gr8! bookmarked.

tical: hey donald, tnx 4 your updates so far. .these are gr8 biz ideas. .cant wait 4 u to post more. .I wil like to get more info 4rm u abt these biznesses since you reside in abuja too. .my email is mef.tical@yahoo.com God bless u.

Just keep reading this thread as i will continue to update it with business ideas. If you desire to reach me then contact me on donaldyusuf27@gmail.com

Sorry guys i have been unable to update this thread for awhile; i tried doing that sometime, but i guess Nairaland had issues. thank God everything is cool now. Lets move on.

3. INTERNET BUSINESS

This is one business that is most discussed by youths, and it is the most controversial. Many ask if making money online is possible, some have tried and lost their money, while others are smiling to the bank.

The question is, is it possible to make money online as being preached by so many internet entrepreneurs?
Well, the truth is, It is very possible to make huge money online, but majority of the so called internet entrepreneurs advertising all manner of products and opportunities have NEVER made a kobo online.

Just as the name implies, Internet Business; it is a Business and must be treated as such. It is practically impossible to make money online without selling a product or offering a service.

The internet no doubt, has raised lots of Millionaires and Billionaires, even here in Nigeria and that's because they took it as a business.
Businesses like iROKO TV, Nairaland, Linda Ikeji Blog, Twin Pine, etc are all successful internet businesses in Nigeria. But note that they all have one thing in common...they are offering a service.

Now in my next post i will give a list of the most viable and profitable internet businesses you can start and make good cash here in Nigeria.
Watch out!

[quote author=Donald Yusuf]Sorry guys for being unable to update this thread for awhile; i have been so busy with business and Church activities. But now I'm back.
Let's continue from where we stopped!

2. MINI-IMPORTATION BUSINESS USING THE INTERNET
0ne business that will make a lot of smart people Millionaires this year, is the business of importing goods into Nigeria right from the comfort of your home using your computer; and if you don't have one you can operate from a Cafe.

This busin
this is a good concept..importation business is the kind of business i urge every young man to venture into and it's what am into fully now.
well done my friend.
i live in abuja too hoping we both meet each other soon.

[quote author=dav8id][/quote]

Yes we could hook up. Send me a mail at donaldyusuf27@gmail.com

3 (a). Blogging

Yes blogging! You might ask is blogging a viable business? Trust me when i say it is; ask linda Ikeji. Somebody might say Linda is just lucky, but i bet to disagree. She succeeded in blogging because she took it as a business. Today she makes Millions from her blogging business through Google Ad sense, Advert Banners display, Product endorsement, Brand promotion, etc.

You too can do same. What it takes is Passion, Hard work and Patience. Build a blog around a passion, and ensure that passion has a large audience...that is, the Niche or subject should be one that has lots of interested readers.

Using Linda as an example; she built her blog on her passion which is Entertainment (she is a Model). She built her business blog around an industry she can easily relate with. This gives her blog consistent content (you know the entertainment industry will always have one news or the other).
But she didn't stop there, she also added Politics, Lifestyle, and general news and Information. I believe she is the number one Entertainment blog in Nigeria.

And before i forget, she recently acquired an 8 Million Naira Infinti FX 35 SUV, courtesy of her blogging business.
You too can do same!

Here are some very hot Niches or Topics where you could launch a blog; these subjects are evergreen.
i. Entertainment
ii. Money (especially making money online)
iii.Starting a business (teaching people how to start their own business)
iv. Relationship matters
v. Health matters
vi. Soccer

If you can work hard and build a blog around any of these subjects, and not forgetting to take it as a business, i assure you you will make some good cash for yourself with time.
Good luck!

TOP 10 EARNING BLOGS IN THE WORLD


1. The Huffington Post; $29,896 dollars daily income

2. Mashable; $15,781 dollars daily income

3. TechCrunch; $14,816 dollars daily income

4. Engadget; $9,861 dollars daily income

5. Smashing Magazine $6,382 dollars daily income

...to be continued

Hey pals, i'm back. Sorry I had to go offline for a while.
Top earning blogs in the world( continuation); i listed the first five, here is the next five.

6. Tuts; $5,068 dollars daily income

7. Life Hacker; $4,821 dollars daily income

8. Gizmodo; $3,918 dollars daily income

9. Perez Hilton; $3,645 dollars daily income

10. Joystiq; [b]$1,752 [/b]dollars daily income.

Good luck as you build your own business blog!

4. Poultry Farming

Poultry business is a risky but lucrative business. You can operate this business on a small-scale from your back yard by constructing small cages.
Your products will include Layers, Broilers, and Cockerels. Cockerels are rugged and more resilient than Broilers.

The Layers usually take 18 weeks before they start laying eggs while the broilers are ready for the market at 12 weeks of age. Cockerels, on the other hand, take about six months before they are ready for the market, but are rugged and more resilient than Broilers.

Starting this business on a small scale is tough, but as your business expands, making more capital available, you will begin to enjoy it better.

Layer farming is the most lucrative aspect of Poultry business because apart from producing eggs, they are also sold as meat, and the market for old layers is huge.

Price of eggs per crate depends on the sizes of the eggs; a crate of pullet eggs goes for N450 naira, Semi-pullet goes for N600 Naira and a crate of large eggs goes for [b]N700 naira.
For the Chickens, old layers go for between N900 and N1000 at wholesale. A day-old chick costs N220 naira.
With hard work and patience, this business though risky, could be very profitable.

Another very important thing about this business, is that the demand is always more than supply, and no producer has been able to meet the local demand for poultry in Nigeria.
Hmmmn, I just remembered when my father had a Mini poultry farm...the business was stressful but rewarding.

Try this business!

5. Photography

If you still see Photography as a venture that could only put peanuts in your pocket, then you’ll have to think again. Photography is big business!

Photography has become such a viable enterprise that operators are making millions from it; I know of a Photographer in Lagos who charges more than N200,000 naira for a single event or contract. Imagine this guy getting 5 contracts in a month. Do the math yourself!

A Photographer in Makurdi-Benue state that I know of, charges a minimum of 70,000 per event (e.g. Weddings), and he is usually booked virtually all Saturdays to cover weddings especially during the December peak periods. And the guy has a photo studio where people still go to take private photo shots. I was in Makurdi for the Christmas celebration last year and i discovered that the guy had bought himself a very clean 406 car. I was very impressed!

Another Photographer I know in Abuja makes millions through his photography business. In fact he is the official photographer of a big government agency, and he drives a Range Rover Sports car, courtesy of photography.
You can start this business on a small scale with just N50,000 naira, which is actually the cost of a Blackberry phone being used by a jobless graduate waiting for the so called “white collar job”.

If you are in Abuja or Lagos, then you should know Studio 24; it’s a Professional Photography service provider with offices in the six regions of the country. Their Abuja office is located at AP mall, Maitama and I guess you know what it takes to rent an office space in Maitama?

Studio 24 started very small some years back in a small room in Kaduna, but today it has grown into a successful business with an annual turnover that runs in millions of naira.
If you could just be innovative, hardworking and smart, this business of Photography can make you financially independent or even a millionaire. You could even become a celebrity Photographer or go into movies if you are really good at what you do.
The opportunities in this business are vast and subject to your creativity, capacity, hard work and imagination. Photography could actually be a nice and fun business to do. Try it! Go under an established Photographer to learn the trade before launching out on your own. Good luck

6. Orange Juice Production

Some years back I embarked on a trip to Oturkpo, a town in Benue State, North Central Nigeria. On my way to Oturpo I passed through a town called Aliade. On reaching this town I was shocked at what I saw.
What did I see?

I saw Money (millions) rolling on the road and people were stepping on it; I saw the Old, Middle-aged and Young, display their products along the road.

I have traveled along that route before, but on this day something caught my attention; I saw Oranges rolling on the floor like sand. Oranges are to Benue what sand is to the sea shore.

I decided to stop and buy some oranges; I was given one to test and confirm the sweetness of the orange, after which I asked for the price of the orange.

I finally bought one small bucket of Orange at N100 naira. Then I saw a business opportunity. I asked myself why is it that Benue State does not have a viable Orange Juice factory, producing Juice that will compete with 5Alive and Chivita in the market.

Well, that’s a question for the Governor to answer, but our business on this thread is Not on the ills and failures of government, but on How to Create Businesses with very little start-up capital. Remember our focus here is on discovering and unveiling 13 viable and profitable businesses that anyone can start this year 2013, and thank God we are still in the first quarter of the year.

How does this story benefit you?
In my next post I will show how you can start producing Orange Juice on a small scale with a very little start-up capital and make good income. I will also share my experience in this business with you. I did this business in my 300 level in the University (Benue State University).
Watch out for the details!

Donald, thank you very much for this. I've already bookmarked this thread. Please, can you give us an estimate on how much is needed to start each of these businesses?? Thanks n advance.

interleukin: Donald, thank you very much for this. I've already bookmarked this thread. Please, can you give us an estimate on how much is needed to start each of these businesses?? Thanks n advance.

I'm working on that, and will upload my research findings.

ok am waiting

In 2008 when i was in my third year in the university, i and two of my friends started an Orange Juice production business. My friends went to the market (Modern market, Makurdi) and bought an Orange Squeezing machine for N2,500 naira and later bought oranges valued at N500 naira; we then went in search of used bottled water containers.

we got some of these containers, washed them with warm water and left to dry.
We had a space (Boys quarters) in the university's staff quarters; though we had an hostel accommodation, we still reserved this space. This room became our Juice processing factory and we were in business.

We peeled the oranges with knives and squeezed out the juice using the small machine we bought. We were enjoying this!
The juice was poured into a clean container, the peel was packed in a sack. Then we used a sieve to filter the orange juice.

We made our first 10 bottles of small Eva containers. Our target customers were Hotels and Restaurants; We took some bottles to Benue Hotels and 3Ties Booker Restaurant. They sold fast that same day. Wow! business was sweet. We made more bottles the next day and kept it in storage so as to deliver the next day and search for more market. Then the unexpected happened.

We kept our products in a friend's fridge at the College of Health, since we didn't have a fridge of our own. Unfortunately the school power supply developed a fault that day and the University Generator packed up that same day. Our products were already spoiled by the time we removed them from the fridge. A bottle of our fresh juice went for N100 naira, while the big bottle went for N250 naira. We lost a few thousands.

This was nature testing our resolve to be successful entrepreneurs, but we couldn't understand it then, but now we know better. We did what most average people do when faced with setbacks...we gave up.

Quite interesting, Donald. You really did justice to each topic.

I am already looking forward to the next post.

Moderator, why is this not on the front page?

Thanks for the info. please were are patiently waiting.