The dream of everyone is to make more money and become wealthy. We well appreciate this fact and as such, our goal is to help people fulfill such dream. As a Lagosian, there are several business ideas in Lagos that are very profitable. Most of these business ideas are business ideas with low capital and high profit.
Lagos is such a busy place filled with great business opportunities for Nigerians and non-Nigerians. Can the opportunities in Lagos fend for you as a non-Nigerian? Of course, Nigeria does not discriminate and this makes it easy for even non-citizens to become rich in Lagos.
In this article, I will expose the top business ideas with low capital and high profit in Lagos. Nobody seems to talk about them because nobody cares. Funny enough, the few people who are running these business ideas do not also want to inform others.
When you kick-start any of these business ideas, I bet you’ll see results within 2 weeks in Lagos.
10 Most Unknown Small Business Ideas in Lagos with low capital
I have painstakingly compiled this list to make sure that you become rich with small money. Some of them will cost cheaper than 15,000 Naira and some will be a bit higher. I will include the estimated cost in all the low capital business ideas in Lagos listed here.
There are basically two categories of business ideas available in Lagos.
- Skilled Business Ideas
- Unskilled Business Ideas
This section contains all the business ideas that require skills and no skills. You can wake up, invest at any time and see returns in 2 just weeks. The starting capital for all these business ideas are low and I expect you to start them on or before 2020.
The dry cleaning business is otherwise called laundry business in Nigeria. It involves a simple washing and drying of fabrics for people. Anyone, citizen or non-citizen can venture into this business and get returns in less than 3 weeks.
Read more about dry cleaning business in Nigeria.
The capital is not in hundreds of thousands, talk less of millions. In some parts of Lagos, people begin this business with just a bucket of water and detergent. I would have told you to do so but you need some packaging. This business will exceed 15,000 but will not be too far away. Let’s see the estimated cost of starting dry cleaning business in Nigeria from the requirements.
- Second-hand generator – 15,000 Naira
- Pressing iron – 5,000 Naira
- Ironing table – 3,000
- Detergent and stain removers – 2,000 Naira
With these in place, the business is up and running. Don’t think of drilling a water bore-hole for now.
Start a Car Wash
The only thing needed to begin a car wash is land. You don’t have to buy a land to start this business. There many spots that people barely use. Design a signboard indicating “Car Wash Here” and good to go. Take on mini buses, Keke and be very friendly with the taxi drivers for patronage.
Just stay around a place where you can fetch water and do the washing. Fetching water should not cost more than 10 Naira per bucket. You might be fortunate to stay near a place that gives water for free.
- Car wash
- Tire brush and chemical
- A soft and neat piece of fabric for washing
To begin a car wash business in Lagos should cost a total of not more than 10,000 Naira on low key.
Start a Restaurant
A low budget restaurant in Lagos is one of the smartest business ideas with low capital and high profit. My mum opened a restaurant in Lagos with as low as 9,000 Naira in 2016. Between 2015 and now isn’t enough for the capital of business ideas in Lagos 2020 to reach hundreds of thousands. She did not have to rent any big housing. Guess what, mum erected a canopy in an open space and a week after, she made enough to erect another canopy making it two for more customers.
What She Spent On
- The canopy which was rented weekly.
- Two pots of soup.
- Other cooking utensils.
- Plastic chairs and tables.
In today’s Nigeria, the estimated budget will fall between 20k to 30k which is not too big for you to raise. Having problem with raising extra funds? Here is how you can make extra money.
Become a House Agent
This business idea in Lagos is something you can tip in while running another business. Since it is one of the business ideas in Lagos with low capital, you can run it even without being there 24/7. Let’s discuss about the starting cost. Do you think there is cost in this venture? Well, there is technically no cost. However, you need to spend to gather info on available spaces for rent. This business idea in Lagos requires connection and possibly being part of certain associations.
As a house agent, you have to regularly check on the availability of spaces. Nowadays, the internet has taken over and this business is not left out. Go on places like Jiji to advertise yourself. You could eventually turn yourself to a trusted agency in Lagos.
Opening a Provision Store
Provision stores are grocery stores. They are not commonly referred to as grocery stores in Lagos and Nigeria as a whole. Since the household name is provision store, set it up and call it the same thing. If nothing sells in a particular, it won’t be provision items. These items sell daily in the morning, afternoon, and evening.
To make the best out of this business, find a housing. Business ideas in Lagos with low capital are what people mostly survive on and it’s paying. In this case, a container won’t be a bad idea. If you have the money to rent a concrete space, that’s fine. You can even begin this business on the legal streets of Lagos. Avoid restricted areas so that the government can avoid you.
The requirements for this business all depend you. For a start, stock quickly edible things like biscuits, local bread, soft drinks, and toiletries.
The estimated cost shouldn’t exceed 30k on low budget. If you budget below 30k, you would have to give the business up to 4 months to become unique on its own.
Taxi business is becoming more interesting in Lagos, Nigeria. With the arrival of online services like Taxify, Bolt, OPay, Pick Me Up, etc. there is now more joy in the business. The problem would have been getting a car, but it’s a different thing now. You can drive on hire purchase or rent or be rented. Your estimated earning is between 20,000 Naira to 70,000 Naira. But your monthly earning will not go below 20k.
If you already own a car, then go ahead and join the business. Do not allow that car to die at home while there is a mean to get it back alive.
As for fueling, insurance and repairs, the rides you’ll be making will be taking care of it.
This is one of the no-skills business ideas in Lagos with very low starting capital. Why most persons do not go into this business is because of shame. They mostly feel that people will laugh at them. But such thing should not be enough to discourage you from doing this business.
If you feel you can’t do this business, then employ packaging. Packaging is what gives a bigger and better definition to this business. Also, your clients would be more impressed when you employ techniques that make the job neater and less bugging.
Depending on the area/location you’ll work in, requirements would differ. If you go to areas where there is no too much development, you’ll need the following:
- A wheel barrow
- Large dump bucket with rollers.
If you own an old wagon, then be ready for real business. For some who already own an old Peugeot Pickup, you’re as good as a waste bin company.
The reason why I like Betting outlets is because the light there is always standby. If the bet store around your neighborhood does not run the generator over-day, something is wrong. It’s either the area is not booming or the generator is faulty. In a country like Nigeria, power source must be super active at all time because the light here isn’t stable.
A betting outlet business does not cost so much. For some of us with a laptop, you could begin the business with that. If getting a desktop is the plan, get an old desktop because they’re very cheap. Jiji and the likes already have these sorts of machines available on sales. Create an account there, contact a seller, and get one or two. Like I said, it’s cheap.
Requirements for a Betting Outlet
This business option is the costliest on this list. Let’s estimate the required things to begin this business in Lagos.
- Power Source – About 20k for a used generator.
- Two TVs – I’m certain you already own a TV (you can get the other TV on hire purchase). Go for a TV that doesn’t cost beyond 15k. Check online or enter any TV repair shop for super-cheap TVs.
- At least 3 wooden benches.
- Bet-slip printer (often issued by the company).
- Standing fan
- Start Times/GoTV – Go for cheap subscription.
The estimated cost is about 50k to 60k Naira for the items. As for the store, only those whose compound has an external building will be very lucky. Renting a store will be the big cost here for those with no alternative.
Drinks Retail and Wholesale
Other than drinking parlor, a drink-retail store also makes money from the sales of drinks. In short, the person running a drink retail store is the person that delivers drinks to drink parlors. The major requirement is a refrigerator to keep the drinks cold when retailing. Whole sellers don’t even require refrigerators because no one puts a crate in a fridge, unless circumstances call for it.
Still in this business, you can retail and whole-sell sachet water. Stores as well as individuals who retail sachet water will buy them from you.
- A large fridge (fairly used).
- Power source.
- Money to order for few crates of drinks and sachet water.
- Wheel barrow (for drink delivery to nearby stores and parlors).
After a while, add bottle water to the list for more profits. As time goes on, increase the number of crates of drinks you purchase and connect with more people.
When you see banking, what comes to mind? For me, everything comes to mind. The only category of baking that will cost high is bread and I do not recommend opting for it. By the way, you should garner a little experience on baking before venturing into it. Also, get a baking niche. Is it cakes? Short bread? Egg roll? Chin-chin? Pies? etc. There are several other niches and each of these niches require a different amount of money. However, the requirements are low. What makes this business to boom is the skills of the baker.
Like I suggested, don’t venture into bread-baking for now. I know about it and it’s costly to run. I would recommend niches like buns, chin-chin, cupcake, cakes, etc.
Leave your preferred niche in the comment section and we will get back to you with an accurate cost estimation.
The big business I have today was a mere 5,000 Naira investment. Two weeks later, I built a customer base and recovered the money
You do not require business advises of any sort in this modern time. Nowadays, it’s all about risk because risk is what defines an entrepreneur. That notwithstanding, none of the business ideas in Nigeria listed here is risky.
While you’re reading for Lagos, you can help a friend get a job in Abuja.
When I picked up the dry cleaning business in Nigeria idea, I feared it was a waste. Guess what, I later realized that businesses pass through a short phase to become powerful. The moment you withdraw money to begin a business idea from this list, you’re already at the verge of becoming a wealthy and