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Best Businesses to Start With 500k in Nigeria

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businesses to start with 500k in Nigeria

Best Businesses to Start With 500K in Nigeria

Are you still puzzled about the sort of business you should get into with your 500K in Nigeria? or maybe you don’t have up to 500 thousand naira and you still want a business module that you can start with that money in your hand/account and generate extra revenue daily? Then, this article is all you need.

Starting up a highly lucrative business with 500k or less utilizing the concepts in this article will be quite straightforward.
Most of these enterprises need little experience when starting started. Some of them may be run as a side hustle or part-time.

N500k is a great cash to start a business with. If backed up with true devotion and hard labor, then in no time, a lot of earnings will flow into the business.
This guide will analyze some of the most lucrative enterprises to start up with N500k or less.

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Most Profitable Businesses to Start With 500K in Nigeria

Below are the list of Businesses you may to Start With N500K or Less

Car Wash Business

Car wash business is one which you may start with N500K or less and is guaranteed of generating you a large amount of profit.
It is regarded to be among the most enticing enterprises to entrepreneurs. Every automobile owner has to clean their cars, since it is a highly prized item and a source of pride to Nigerians.

According to statistics, there were roughly 17 million automobiles in Nigeria in 2018. This indicates the very lucrative nature of this firm.
Car wash business owners might earn as much as 10 million Naira a year by reasonable projections.

The positives regarding this business are that not much expertise is required, and the business equipment is simple to get at an inexpensive fee.

Football Viewing Centre Business

Football viewing centre business is one of the businesses you can start with N500K or less. In a country like ours, where every adult male, even children, are football fans.

This industry already has a healthy prospective consumer base. Football is inspirational when viewed in a group, therefore capitalizing on the raw football love of Nigerians is a great economic potential.

No experience is required. All your business needs is a room, a backup generator, satellite, television fan, and chairs. A solid grasp of accounting is essential to balance all your accounts.

Laundry services

If you reside in an urban location, then this is a terrific business you may start with N500K or less. Students and business professionals well frequent laundry service.
It is a firm noted for its excellent return on investment. It is adaptable and simple to establish. You may even start the business in your residence before you expand to someplace more significant.

Bookshop Business

If you are enthusiastic about spreading information, then beginning a bookstore business with 500k or less, is a fantastic concept. It is a business oriented on students and other professionals.
Selling books to students alone can assure you great revenue. It will provide you the freedom and personal fulfillment you need. You also do not need any experience to run this business.

Poultry Farming

Poultry Farming industry is well known for its tremendous profitability. It is a business where you dont need excessive capital, and a lot of space is also not needed to start the business.
You also don’t have to wait too long to profit from rearing poultry, as chicks take a short while before they mature.

This business is also known for its low maintenance cost, and chicken meat is always in high demand.
It is also another great business to start with 500k or less.

Fish Farming

Fish farming business is a great way to make a money. Nigeria is regarded as one of the world’s highest consumers of fish. It requires experience and more managerial skills. It is not risky and you can begin to make profit in less than six months.

Fish ponds, good water facility and quality fish are what is required for the business. The demand for fish is also considerably high so you will never run out of business. You can easily start this business with 500k or less.

Tailoring and Fashion Design

This is one of the skill-based home business ideas you can start right now. Once you’ve mastered this skill or you have someone who can sew, you’re good to go.

Tailoring is today more profitable than it has ever been. People frequently sew new clothes, and tailors are the ones who perform this task. Some tailors even use an online marketing strategy to entice customers to advertise their work.

Yes, this is something that some people do. Anyone in Nigeria can operate a daily income business like this with 500k or less.


Because people across Nigeria and the globe have a fundamental need for clothes, the fashion industry is a dominant sector that will always be prospering in any economy.

As a consequence, creating your own boutique is a lucrative business enterprise in Nigeria.

Aside from this necessity, fashion is always changing owing to the huge and diverse interest in trends and demands. Starting a clothes store business in Nigeria may be profitable, particularly if you specialize on women’s fashion.

Ladies enjoy fashion and trends, therefore it’s not an exaggeration to suggest that this is a business that will fascinate you and of course, it is a wonderful business to start with 500k.


Opening a restaurant is a fantastic business to start with 500k. This industry has always been on the growth in a nation like Nigeria. This implies that it will never be out of style. You can open a restaurant now if you’re a superb cook.

However, you must guarantee that you offer good meals to keep customers returning. Everyone, regardless of circumstance, requires food, making the selling of food a profitable business to establish in Nigeria.

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