35 Excellent Businesses You Can Start with 400k in Nigeria
Are you looking for a business you can start with 400k?
Don’t worry, I got you covered. With more than seven years of experience in the industry, I know a thing or two about running a successful business in Nigeria.
With the right business idea and approach I will be revealing, you will start a successful business with as little as 400k in Nigeria.
Nigeria has a diverse economy and growing population, making it a great place to start a business.
All these are great business ideas you can start in Nigeria with 400k.
I will provide you with a list of 35 businesses you can start with 400k in Nigeria.
Understanding the Nigerian Business Market
The dynamic Nigerian business scene is undergoing a significant shift. Currently, the dollar to naira exchange rate is locked in at 1$ – 1350, posing a persistent challenge due to naira devaluation.
This makes managing business expenses and miscellaneous costs an intricate task.
In the face of this economic reality, I encourage you to delve into one of the businesses I’ll outline shortly.
Uncover the potential, fuel your research, and embark on a journey fueled by dedication and unwavering commitment.
Remember, business success is not just about navigating challenges; it’s about thriving amidst them.
33 Businesses You Can Start with 400K in Nigeria
1. Fast Food Restaurant
A fast food restaurant is a great business idea for those looking to start a food business with 400k in Nigeria.
With the fast-paced lifestyle of Nigerians, fast-food restaurants have become increasingly popular.
To start this business, one must find a suitable location and purchase the necessary equipment.
It is important to offer a variety of menu items to cater to different tastes and preferences.
2. Frozen Food Sales
Frozen food sales is another lucrative food and beverage business idea that can be started with 400k in Nigeria.
Nigerians love convenience, and frozen foods offer just that.
One can start by purchasing frozen foods in bulk from wholesalers and selling them at a profit.
It is important to ensure that the frozen foods are of good quality and stored at the right temperature to maintain their freshness.
3. Fruit Juice Production
Fruit juice production is a business idea that requires more investment than the previous two.
However, with 400k, one can start a small-scale fruit juice production business.
The key to success in this business is to offer a variety of fresh fruit juices and good quality.
It is important to source fruits from reliable suppliers and to invest in good quality juicing equipment.
Marketing and branding are also important aspects of this business to attract customers.
4. Boutique Store
A boutique store is a retail shop that specialises in selling fashionable clothing, shoes, and accessories.
With a capital of 400k, an entrepreneur will rent a small shop, buy inventory, and set up an essential website.
To attract customers, the boutique will offer unique and trendy items, provide excellent customer service, and use social media to promote its products.
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5. Cosmetics Shop
A cosmetics shop is a retail store that sells beauty products, such as makeup, skincare, and hair care items.
With a capital of 400k, an entrepreneur can rent a small shop, buy inventory, and set up a basic website.
To attract customers, the cosmetics shop can offer high-quality and affordable products, provide expert advice, and use social media to showcase its products.
6. Hairdressing Salon
A hairdressing salon is a beauty business that offers hair cutting, styling, and colouring services.
With a capital of 400k, an entrepreneur can rent a small space, buy equipment and supplies, and set up a basic website.
To attract customers, the hairdressing salon will offer professional and personalised services, use high-quality products, and use social media to showcase its work.
Starting a business in the fashion and beauty industry can be rewarding but requires hard work, dedication, and creativity.
7. Poultry Farming
Poultry farming is a lucrative business in Nigeria, requiring a moderate amount of capital to start.
With 400k, one can start a small-scale poultry farm and gradually expand as the business grows.
The capital can be used to purchase day-old chicks, feed, vaccines, and other necessary equipment.
It is essential to ensure that the poultry farm is located in a suitable area with adequate water supply and a good road network.
8. Fish Farming
Fish farming is another profitable venture that can be started with 400k in Nigeria.
With this amount, one can set up a small-scale fish farm and purchase fingerlings, feed, and equipment.
The location of the fish farm is crucial, and it should be in an area with a good water source and adequate drainage system.
Fish farming is done in earthen ponds, concrete tanks, or plastic tanks.
9. Snail Rearing
Snail rearing is a low-capital business that can be started with 400k in Nigeria.
The capital can be used to construct a snailery, purchase snail eggs or snails, and feed.
Snails are easy to rear, and they do not require much attention.
The snailery should be in a cool, shaded area with adequate ventilation.
Related Post: Snail Farming in Nigeria: The Ultimate Guide
10. Computer Repairs
Starting a computer repair business is a profitable venture with a capital of 400k in Nigeria.
This business involves selling used computers, laptops, and accessories and repairing and maintaining them.
To succeed in this business, it is important to have a good knowledge of computer hardware and software, as well as provide excellent customer service.
Building relationships with suppliers and manufacturers will also help get good deals and product discounts.
11. Mobile Phone Accessories
The mobile phone industry is rapidly growing in Nigeria, creating a demand for accessories such as
- Phone cases
- Chargers
- Earphones
- Screen protectors.
With a capital of 400k, you will start a mobile phone accessory business and tap into this growing market.
To succeed in this business, keeping up with the latest trends and offering a wide range of products to cater to different customer needs is important.
Good customer service and strategic location will also help attract and retain customers.
12. Software Development Services
Software development is a lucrative business that can be started with a capital of 400k in Nigeria.
This involves developing software applications, websites, and mobile apps for clients.
To succeed in this business, one must understand programming languages and software development tools.
It is also important to have good project management skills and communication with clients to ensure their needs are met.
13. Private Tutoring
Private tutoring is a great business that requires little capital to start.
With a budget of 400k, one will start a private tutoring business and offer academic support to students of different levels.
The business owner can specialise in a particular subject or offer general academic support.
The demand for private tutoring services is high in Nigeria, and the business can be operated from home or rented office space.
14. Vocational Training Center
A vocational training centre is another viable business idea that can be started with 400k.
The centre will offer training in vocational skills such as fashion design, catering, hairdressing, and computer repairs.
The business owner can partner with industry experts to offer quality training to students.
The vocational training centre can also provide job placement services to its graduates, increasing its reputation and attracting more clients.
15. Educational Materials Sales
Nigeria’s demand for educational materials such as textbooks, stationery, and school uniforms is high.
With a budget of 400k, one can start a business that sells educational materials to schools and students.
The business owner can source the materials from wholesalers or manufacturers and sell them at a profit.
The business can be operated online or from a physical store, and the owner can use social media to market the products.
16. Fitness Center
A fitness centre is a great business idea for those passionate about health and fitness.
With a budget of 400k, one can rent and equip a space with basic gym equipment such as treadmills, weights, and exercise bikes.
The fitness centre can offer personal training, group fitness classes, and gym memberships.
The business can be operated online or from a physical store, and the owner can use social media to market the products.
17. Health Food Store
There has been a growing interest in healthy eating and living in Nigeria in recent years.
A health food store can cater to this demand by offering organic, natural, and healthy food options.
With a budget of 400k, one can rent a small space and stock it with various healthy foods such as whole grains, fresh fruits and vegetables, and supplements.
The store can also offer nutrition advice and consultation services.
18. Pharmacy
A pharmacy is another profitable business idea in the health and wellness industry.
With a budget of 400k, one can rent a space and stock it with essential drugs and medical supplies.
The pharmacy can also offer consultation services and sell over-the-counter drugs.
Starting a business in the health and wellness industry requires knowledge, dedication, and passion.
With the right business plan and execution, one can build a successful business that helps people live healthier lives.
19. Gaming Lounge
Starting a gaming lounge is a profitable business idea for those who are passionate about gaming.
With 400k, one can set up a gaming lounge with a few gaming consoles, comfortable chairs, and a good internet connection.
The business will generate revenue by charging hourly rates for the use of the gaming consoles.
To attract more customers, one can organise gaming tournaments and offer prizes to the winners.
Marketing the gaming lounge through social media platforms and word of mouth can also increase the customer base.
20. Event Planning
Event planning is a lucrative business idea that requires creativity and good organisational skills.
With 400k, one can start an event planning business specialising in organising events such as weddings, corporate events, and birthday parties.
To succeed in this business, one must have good networking skills and build relationships with vendors such as caterers, decorators, and photographers.
Offering competitive pricing and exceptional customer service can also help attract more clients.
21. Photography Services
Starting a photography business is an excellent idea for those with a passion for photography.
With 400k, one can invest in a good camera, lighting equipment, and other necessary accessories.
One can offer photography services for events such as weddings, birthdays, and corporate events to attract clients.
One can also offer portrait photography services and sell prints to clients.
Marketing the business through social media platforms and building a portfolio can help attract more clients.
22. Delivery Services
Starting a delivery service is a lucrative business idea that requires minimal capital investment.
With just 400k, one can start a delivery service and cater to the needs of local businesses and individuals.
To start a delivery service, one needs to have a reliable means of transportation, such as a motorcycle or a small van.
It is also essential to have a strong network of contacts, including local businesses and individuals who require delivery services.
23. Consulting Firm
Starting a consulting firm is a great business idea for those with experience in a particular industry.
With 400k, one can start a consulting firm that specialises in providing expert advice to businesses in various industries.
The firm can offer services such as business strategy, marketing, human resources, and financial management.
To succeed in this business, one needs to have excellent communication and analytical skills and the ability to identify and solve problems.
24. Accounting Services
Starting an accounting firm is another great business idea that requires minimal investment.
With 400k, one can start a small accounting firm that provides bookkeeping, tax preparation, and financial advice to individuals and small businesses.
To succeed in this business, one must be a certified accountant or have a team of certified accountants.
It’s also essential to have a good understanding of tax laws and regulations, as well as excellent communication skills, to build a client base.
25. Vegetable Farming
Starting a vegetable farming business with 400K Naira is viable due to low initial investment, steady demand for fresh produce, and quick harvest cycles.
Vegetables are essential in diets, ensuring a consistent market. The relatively small size of a vegetable farm allows for cost-effective operations.
With proper planning and efficient farming practices, you can achieve a quick turnaround on your investment.
Focusing on high-demand vegetables or niche markets can enhance profitability.
26. Pig Farming
Pig farming is a lucrative venture with a budget of 400K naira. Pigs reproduce quickly, yielding a high return on investment.
With proper management, a small-scale pig farm can grow rapidly. Pigs are efficient feed converters, requiring relatively low input costs.
Pork is in constant demand, ensuring a steady market. Diversifying into pork processing can further increase profitability.
The initial capital allows for infrastructure setup, quality breeding stock, and essential equipment.
27. Barbing Saloon
Starting a barbing salon with 400K Naira is advantageous due to its low entry cost, steady demand, and quick returns.
With a modest investment, you can secure a location, purchase essential equipment, and cover initial expenses.
The grooming industry is resilient; people consistently seek haircuts, making it a stable business.
Moreover, the scalability of services allows for potential growth and diversification.
Building a loyal customer base can lead to repeat business, fostering long-term sustainability.
28. Palm Oil Production
Starting a Palm Oil Production with 400k naira is a wise investment for several reasons.
The initial capital covers essential equipment, rent, and basic decor.
Barbing services have a consistent demand, ensuring a steady flow of customers.
With proper marketing and quality service, customer loyalty can be built, leading to repeat business.
The business has relatively low overhead costs, making it financially viable.
29. Boxers Business
Starting a Boxers business with 400K naira can be lucrative due to low entry costs and high demand for affordable clothing.
Boxers are essential items, ensuring consistent demand. With careful sourcing and cost management, you can maintain competitive pricing.
Targeting a specific demographic or offering unique designs, a focused marketing strategy can attract customers.
Establishing an online presence can expand your reach. Efficient inventory management and customer service will contribute to repeat business.
30. Pos Business
Starting a Point of Sale (POS) business with 400K naira can be lucrative due to rising demand for electronic payment services.
With this budget, you can acquire POS machines, cover initial operational expenses, and build partnerships with local businesses.
The growing trend towards cashless transactions in Nigeria enhances the potential for increased customer traffic.
Offering services like bill payments and airtime top-ups can diversify income streams.
31. Shawarma Store
Starting a Shawarma store with 400K naira can be lucrative due to its popularity and relatively low startup costs.
Shawarma is a widely loved fast food, offering a diverse menu with customisable options.
The initial investment can cover equipment, ingredients, and a small space. With strategic location and marketing, you can attract a steady customer base.
The profit margins in the food industry, especially with fast and affordable options like Shawarma, can be promising.
Efficient operations and quality service can help your business thrive, making it a viable and potentially profitable choice.
Learn How to Start a Shawarma Business in Nigeria
32. Blogging
Blogging is a cost-effective business to start with 400K naira as it requires minimal initial investment in domain registration, hosting, and basic design.
Content creation is the primary focus, allowing for low overhead costs.
With a niche-focused approach, targeted content can attract a specific audience, potentially leading to partnerships, sponsored posts, and affiliate marketing opportunities.
The digital nature of blogging provides flexibility and scalability. Investing in quality content and SEO strategies can drive organic traffic, increasing revenue over time.
33. E-commerce
Starting an e-commerce business with 400K naira allows for a cost-effective entry into the market.
With low overhead, you can invest in product sourcing, website development, and marketing.
E-commerce offers a wide customer reach, enabling you to target a broader audience. The scalability allows for growth as profits increase.
Leveraging social media and digital marketing can enhance visibility without significant costs.
The convenience of online shopping attracts consumers, fostering customer retention.
Efficient inventory management and dropshipping models can optimise resources.
34. Egg Supply
Starting an egg supply business with 400K Naira is advantageous due to low overhead costs.
You can purchase chicks, feed, and basic equipment to establish a small-scale poultry operation.
Eggs are a staple in diets, ensuring consistent demand. The business has a relatively short production cycle, providing a quicker return on investment.
With proper management, you can gradually scale up, reinvesting profits.
The versatility of eggs in various industries like food and cosmetics offers potential diversification.
However, success depends on thorough market research, efficient operations, and maintaining your poultry’s health to ensure a steady egg supply.
35. Bed Sheet Business
Starting a bed sheet business with 400K Naira can be lucrative due to the high demand for quality bedding.
This budget allows you to source affordable yet quality materials, ensuring a competitive edge.
Targeting local markets and leveraging online platforms can widen your customer base.
Efficient marketing strategies and building a strong online presence can further boost sales.
The bedding industry often sees repeat purchases, fostering customer loyalty.
Conclusion
With 400k naira, prioritise cost-effective strategies, focus on customer needs, and reinvest profits wisely.
This modest investment will lay the foundation for a sustainable and profitable business journey.
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