Can 200,000 Naira Start A Good Business In Nigeria?

Why Nigeria and not the world?

Talk with investors and people with creativity.

That amount could start you a clothing line.

it will start a business for you,and it depends on who is managing it and who the person does the managing.

A clothing line?  Can N200k actually start a clothing line?  (not $)

ok people, I want to start/open a Unisex Salon with other minors like phone business.  CD, DVD, Games for sale at the same venue possible not in da central lagos so average shope rent

- cut hair
- braid hair (extra)
- sell re-charge cards
- sell dvds, games, CDs
- gameshop ps3, x-box 360 (extra)

Considering the fact business is risky and triple risky in Nigeria, do you think 200-250k would be enough to start a barbing shop?  If I was living in Nigeria would I be able to survive and live with this?

I asked my barber who owned a shop in nigeria it should be enough but i should forget nigeria n concetrate on my studies.  But I've been itching to do something like this for a long time.  I basically want to supply the capital and have my cousin manage it for themselves!  If they succeed that's their gain, and if not [then too bad].

well im an entrepreneur myself though studyin engineering 

i will like more info as im more inclined to service than manufacturing...and guess what... i'll even invest if the books are clean n right ..how about that!! 

The best advise i can give u is become an agent. Thats how i made my first million at d age of 22. I'm 24 now anyway and it not that i've made so many.
Here's what u can do.

Buy Castles Magazine (weekly). See the Hot Bargains for sale (cars and houses). Contact those who sell them and tell them u can get them a buyer within a week and agree on a commision (maybe 20K). Contact a lot of them and build your inventory.
Now go on other national dailies like Guardian or on radio (or even nairaland.com) and advertise. Once interested parties call u, u link them up and collect your commision.

Rules of the game
**Add only HOT products into your inventory e.g used honda car for just N200K etc. People love bargains.
** When people call u, always say its available until its actually no longer available. the fact that some1 calls aint enough proof of interest. So u can talk with several parties until the product is actually sold. Dont turn me back just because some1 called u first.
** Make extensive advert via several media and include several modes of contacts (not just phone).

U'll be making lost of money if u do this well. u dont need an office space, no products...etc. Overhead cost is minimal and surprising thing is that u could make as much as d seller himself.

have u thot of buying equities -  buy low and selling high. if u dont have more than 200k at the moment.

all u need to do is to identify good stocks and invest in them. no cost attached except transaction costs which more or less 4%.

Also u can start with retailing of some goods or better go for LPO for supplies (but from reputable companies only pls).

200K is more than enough to start a good business in naija. what is important is the unique idea and the drive to make it work. you can sell drinks. you can even sell private label pure-water. you can start your newspaper. you can be a consultant (u need brains and a sharp mouth)

Hello,

With 200k, you can start, even a very good businss.Only what you need is that you've to plan what biz. you wanted to engage in, the location matters, because the state of the business detemines it's booming. Additonally, you can invest in the equities,but 'A patience Dog, eats the fastest bone' that means, you wouldn't mind to wait a patience  for at least a year before you could be realising dividends on it no matter how.Or better still, you can buy stock options for at least $1000 equivalent to 149,000 or there about,then the rest of the capital, on cheap biz.

Yea of course, maybe it can assist you in selling pure water in a show glass
Alright am just kidding. Well it all depends on the kind of business you would like to start up and where you would like to set it up. There are various consultants in town... Contact any of them for professional information

Those who are saying that one can start a business with 200,00 naira should remember to let us know what businesses one can start with 200,000 naira in Nigeria.  This is important.

Okay, guys thanks I've read all the messages in this thread.  My question is this, how about someone with £10,000, what good business can he start in Nigeria particularly in IT?

Must it be in IT? why not clothing line because right now,I'm developing a business plan I would need some one who'll be interested in equity holdings in it .In the long run we expect to sell the products in England but it would make sizeable chunks in Naija too especially since the distribution will be in top shops around Nigeria.

LET ME KNOW WHAT YOU THINK WE'LL TALK IN DETAILS!I intend to start with good management team.Less on overhads and more on production

Quote from Kelvin
Yea of course, maybe it can assist you in selling pure water in a show glass 
Alright am just kidding. Well it all depends on the kind of business you would like to start up and where you would like to set it up. There are various consultants in town,  Contact any of them for professional information

Kelvin,
You would be surprised what kind of daily income you can make by 'selling pure water in a show glass.' Ok, forget about the show glass, think of a cooler. The other day, I was at my barber's and the female barber who assists the owner of the salon had a cooler of water by the side. As we talked, she made me realise that she could do with a bigger cooler as the demand was so very high. How much was the bigger cooler? N2,000 or so. I gave her half of it. Two weeks later, she had bought a bigger cooler and from the look of things she indeed needed another bigger cooler. I didn't ask how much she made in a day, but, as it were the demand was the most important thing to her: it was high. Just find a need and fill it. And, be not ashamed. Like an unemployed cousin-in-law of mine who I had asked one day what her passion was? When she told me she could weave, I told her she could start a 'dial-a-weave' business. I was even ready to throw in the seed capital to do a classified and some flyers (all these couldn't have cost me more than N10,000). All she needed to do was put her number in the advert, requesting for ladies who needed home service to call and book for the service. To take it further, she could get a list of good weavers whom she could call at the shortest notice to go and weave for the ladies. (And, believe me there are quite a number of ladies who would rather have the weavers come to their homes. For a little premium. Well, what did my cousin-in-law do? She listened to my 'business plan' which, if you must know, came by some impulse, and said she would get back to me. She never did.

Hey GentlBlunt, can you enlighten me more about this? This is really what I want to get into in NG, especially music and production/engineering. But I am not really sure how to go about getting into the entertainment field in Nigeria. Any advice you may have will be greatly appreciated.

Thanks in advance, Magz

Bump

You se one of the amazing busines you can do here in Nigeria is global stock trading, it doesn't limit your existence, you can be making your money whereevver you go in the world, with your laptop as you browse.
The 200k is too more self.
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www.bothsstocks.net.ms
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