There are businesses that with as little as N100,000 one can lift off the ground. A range of these enterprises are suitable for the unemployed who can source up to N300,000 to begin. Here is a list of them
Making and selling crafts
Making and selling crafts is a business one can start with little capital. It includes fabric, yarn, and thread crafts. There is a big market for beautiful hand-made sewing, knitting and creative products for people who enjoy the simple pleasure of old fashioned craft.
The kits are cheap and easy to put together. It involves cutting and hand-sewing tools. These include pins and needles, scissors, glue, stuffing, sequins, ribbon and patterns with step-by-step instructions. All that is required is imagination and creativivity. Products can be made and sold on a customised, made-to-order basis.
To start small, one needs a sewing machine and materials to make fabulous and exciting projects. There are fabrics and yarns in the market as well as hundreds of digital products and craft books packed with idea to help new entrants.
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An important ancillary to promoting any arts and crafts business, is setting a reasonable price that the market can absorb. This process starts in the trenches – that is – with controlling one’s raw material costs.
As in any other service business, one needs skills to churn out quality products at a price that customers can afford, while still making enough money to cover business and personal expenses.
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The food business is super-hot. Growing need for event managers have created a booming interest in the food industry. One needn’t own a restaurant, or hot bar to get into the food business. The business can be started right at home, or at the kitchen table. The food industry is vast and includes every type of enterprise. It’s also an industry heavy with regulatory burdens. One must learn inside out before one even takes the first step.
However, it is an industry in which many entrepreneurs flourish. Unlike most other business opportunities, street food selling offers individuals a chance to start their own business with reasonably little investment. There are very few restrictions, low overheads and little, if any specialist knowledge, skills or experience.
One advantage of street-food hawker, is that in most cases, one will be in the enviable position of being able to ‘move-on’ should a particular pitch prove to be unsuccessful.
People will always need to eat and drink, andtoday’s busy lifestyle often means that many are either unwilling, or unable to cater for themselves, turning rather to fast food or ready-prepared meals.
On the whole, starting any business is no easy task, and becoming a food entrepreneur is a special challenge.
One will have to prepare oneself for the hard work and dedication it takes to succeed in food business.
Rabbit farming is a lucrative agri-business.The domestic rabbit is a prolific breeder, and produces large quantities of tasty meat. Rabbits provide meat and other products, and can be quickly sold for cash or turned into nutritious meals when needed.
One needs a doe (female) and a buck (male) to start. Once the kindling begins, the colony increases rapidly. One doe is capable of yielding about 40 rabbits a year. If one starts the business, having borrowed the initial rabbits, within half a year, one can return live rabbits of the same age. Rabbits produce litters of six to 10 offspring after a gestation of only 30 days.
The rate of production is faster than that of pigs, goat or sheep.
Fish farming has become a good source of additional income for farmers when done in the right way.
It requires a lot of technical knowledge, which farmers can only acquire through proper training and correct information from the right sources before they can start.
All one needs is a space in the backyard, or ready-made tanks. Required fingerlings sell for between N10 to N20.
Then feed them for about six months, then sell from between N200 to N1,500 per kilogramme depending on weight and size. The type of fish to be produced depends on the market, climate and whether it is actually possible to grow it in fish farm settings.
Snail meat is a safe and nutritious delicacy. Anyone can start snail farming and make profit within six months. It is very cheap to rear. The profit in snail farming is encouraging because each snail can produce at least 100 eggs in a year.
The best period to commence snail farming is the rainy season. One can start with about 50 – 60 snails to have a good knowledge of how snail breeding works.
Snails are sold in bunches of 20 pieces each and price depends on the size- the bigger ones are sold for between N1, 800 and N3, 000 per bunch. It is better to buy the big ones because they can hatch after about 35 days on location. About N10, 000 should get a new entrant into the business.
Ice block production
The good thing about this business is that one can start on a small scale from the comfort of the room. To start, one needs a freezer, or preferably an ice-block making machine; a generator that can effectively power the freezer or machine; a water source and nylon bags.
This business thrives well in areas where there is incessant power outages, and also in over-populated places such as motor parks, market places, schools, commercial and business areas. The ice block business is a volume business; the more blocks one sells, the more money one make.
Plantain chips production is a money spinner because it is a well-loved snacks .
It requires very little capital to set up.
With a start-up capital of less than N20,000, one can generate income of at least N10, 000 daily if one is able to produce 1000 packets of plantain chips.
The equipment one needs include frying pan, plantain cutter or table knife, nylon sealing machine, gas burner or kerosene stove and a weighing scale.
The raw materials include unripe plantain, vegetable oil, table salt, sugar, packaging nylons and printed labels
After removing the skin, unripe fruit can be sliced (1 or 2 mm thick) and fried in oil to produce chips. If the chips are made from sweeter fruits, they are called ‘Banana chips.’ They can also be sliced vertically to create a variation known as plantain strips.The market prefers labeled chips.
The more one produces,the more money one makes.
By Daniel Essiet