What Business Can One Start With ₦10m In Nigeria?

2 months ago4147 views

Yesterday I just noticed that I now have up to 10 million naira in my savings account. I am beginning to think of financial freedom and not having to work for someone for the rest of my life. Please what are the potential businesses one can start with 10 million naira. I do Not want anything online or cryptocurrency or forex.

ADD a REPLY to this post...

Replies(11)

NigeriaLast activity 2 months ago

Baba, do your research very well and try to avoid 3rd party management of your business if possible. We are different but I would advice you target a business with N5m first and keep the other half for now. Better still, find out about the traditional money market investing with banks and financial institutions.

NigeriaLast activity 2 months ago

10 million naira is a huge amount of money which when properly invested will yield good interest. There are a lots of factors to consider when going into a business.


1 Don't go into a business which you have not taken your time to study and understand how the business runs.


2. your location is another vital point in setting up a business in Nigeria.

with 10million Naira I recommend


1. Spare part dealer


2. Building materials


3.Run a food restaurant. This is the most important and you cannot fail with this with a nice concept. People will always chop no matter how bad economy dey.


What Business Can One Start With ₦10m In Nigeria?

NigeriaLast activity 2 months ago

Church business. It is not hard. You just need to be a good speaker and confuse people into extracting money from them. You need to make people feel like they have problems that they cannot solve and make them pay for a divine solution.


1. Rent an event center


2. Buy good musical equipment and BELL


3. Enter into franchise with any of the big Pentecostal churches(RCCG is the easiest for now) so that you can bear their name and won't have to struggle for members cos their members would be your members.


4. Get some suit and good native wears.


5. Read the Bible daily and preach good motivational message.


7. The kind of church you have determines the kind of members that would come. So buy projectors, flat screen TVs, ACs...etc around the church.


8. Encourage them to give cos giving is very important, they must pay their tithes and offerings.


9. Organised programs every week and invite people that are so called anointed men of God...this will help to grow your church.


10. Carefully select beautiful single girls from your congregation and make them ushers, this will help draw rich womanizers and the ones looking for husbands into your church and you can encourage them to give to the work of God.


If after 2 years you don't get your principal (10m) back call me a fake prophet.


This I have seen.

Add a comment...

LOL. May God have mercy on you and those fake pastors

Anonymous

2 months ago

NigeriaLast activity 2 months ago

Photo lab

You will be able to do photo printing frames plastic ID card invitation card for marriages banners flex sav phone poutch throw pillow 3 D shirt hand band keyholder the list is much anything they do share at event like birthday married or any event all those gifts they share you will be able to sow sovereign bags and many more...


where is your location right now? this business is hot cake in Edo state PH Warri or delta state because then eye never open well.


it is never something you can regret nah machine you go buy and those machines can use up to 4years without given any fault you will be cashing out daily I swear nah like ritual if you can set it up in Benin haaaa within 7montj you go give me prayer or curse I swear

Add a comment...

NEPA and cost of diesel go pursue am back to village. Don't bother thanking me 4 dis info, thank God instead!

NigeriaLast activity 2 months ago

The following economic principles are guides:


1. Never put all your savings in one investment. Business environments are certainly precarious. A little policy wave may threaten your profit maximization motives. Optimally, you may invest only 20% of the total savings in a single investment source.


2. Never invest in your money in sources under same or similar wave of controlling factors or policy. For instance, if you invest in forex, don't invest in crypto.


3. Never invest in your current sources of income. Optimal investment are portfolio diversified.


4. Real estates investment are only shock absorbers to curb opportunistic risk of securities and financial volatilities. Don't expect too much from them, they do depreciate in time. For a #10m, you certainly would not want to tie much of that money on "only" real estates. You may as well consider only 20%.


Suggestions:

- Buy one Nigerian use car (₦1.3-₦1.4m), place it on hire purchase-uber arrangements (@ ₦2.5m) for the person to deliver #25k weekly.


- Use #1m to buy land in a very cheap area with hope of appreciation future. Don't buy land that is already too overvalued, you won't see your gain in future.


- Look for a local stores/shops/business persons with physical business (better if into essential items like provisions, foods, drinks, drugs, etc). Discuss real business with the persons to support with cash for expansion Take precautions, don't invest more than 10% of the net worth of the person's business. And certainty, maximum of 2% of your savings. You can involve in up to 5-7 independent business of such, which in total should not be more than 10% (₦1m) of your savings. Independent means never allow the persons to know each others.


And find commitment around them involving family, religion etc. But please only %10 of you income and at best between 5-7 of such businesses, investing between #100k-300k. They can deliver you 5-10% of your investment monthly. Try be merciful, leave the capital for them after you've cash out up to 200% of your investment. Provide business advices to them but don't force or get too involve in their business operations, let them be Independent.


- Buy dollars and keep as cash or in domiciliary account. it'll always appreciate. Only 10-20% of your savings is enough.


- Keep 20% (₦2m) as risk free security (bonds, treasury bills. They are also shock absorbers. And put you mind to rest all time.


I hope my suggestions are helpful.

NigeriaLast activity 2 months ago

Hey! open up your mind and see what is going on today. Think of business ideas that will make people stay at home more and not go outside.


People don’t want to go outside a lot now because of security and stuff like that. Some people might even be too busy. Why not start a small delivery business in your locality? Like deliver local and organic groceries and farm products in 1 hour.

NigeriaLast activity 2 months ago

  1. Block making. Selling and it's a good idea but it means you have to have your business in a particular area but with block making, you don't. You'll be needing block making machines, sand, cement (to sell and use for your work), open space with access to water (very important), workers…about 10 for a start
  2. Game house for kids. I have explained this in my other answers.
  3. Cargo transportation. With 10 million naira, you can get yourself a space and about 3 cargo Vans. Ford Transit, Peugeot boxer etc
  4. Buy and sell fashion accessories. I have avoided giving detailed information because of time but do not hesitate to ask questions.


NigeriaLast activity 2 months ago

With ₦10m, it won't be so much about the business you do, but about how you do the business. Anything conventional will almost certainly waste your time and won't turn out to be much.


Here is what I mean by conventional:

Nigeria is full of shops; neighborhood shops, street shops, market shops and illegal (road side, container) shops, we even have hawkers in abundance. Most of these shop owners are not doing anything unique, neither are they doing great with business, many are just getting by. Most people keep their shops open just so they can be busy. If you also follow the trend of selling something this way, you're likely to end up just like most of them.. . .. Getting by!


What you should do is to look at existing structures and add value and concept.

You could become an “estate agent” without any special skill, just by using the Internet and already available platforms. But what would make your services different from every other Nigerian already doing this? That's what you should think about. Solve a problem in any industry you choose, sometimes money is not required to solve a problem.


Selling vegetables. I like the idea, but what if you actually delivered those fresh vegetables to homes directly? You could start with a small group of people, church members, neighbors, family members, etc. You buy, you deliver same day, you get your capital back with profit. It's only a matter of time before your fresh vegetable home delivery service goes viral in your locality.


Fresh Fruit Juice/Smoothie is also a good option, so far you begin with small groups that trust you, make daily, weekly deliveries to homes based on request.


What is it that is difficult to get in your locality? Can you make it more available for a token?


Young Nigerians and Africans have to think outside the box if we will make any impact. Don't start a business just so you can be busy. Solve a problem, make something better or easier to do and if you cut out the need for big/well furnished offices or shops, you really don't need a lot of money to make a difference.


The problem is that most people want to run their small businesses from a well furnished space or in the mall not minding how that affects their bottom line. Maybe you're also worried about how small ₦10m is because it won't get you the kind of office/shop you want.


Whatever you choose to do, make sure you're adding value, solving a problem and making life easier.

Anonymous

2 months ago

NigeriaLast activity 2 months ago

You don't just jump into business like that, what are you really good at, think very very deep within you and know what you can do, there must be something in your mind that you eying now, I waited for many years also b4 I venture into business because the kind of business I wanted is alot of money which is hotel, it has always been my dream so it took me more than 30 years to save for it, but do you believe after three years that i opened my first hotel I bought another one, pls follow your heart on this

NigeriaLast activity 2 months ago

N6 million Naira is enough to setup a cottage food Processing and Packaging mill with Nafdac number for 5 products. This is one business your generation will thank you for.

Food production business has money.


Just that those who are into it don't reveal the secrets. I am into it and also as a trained food safety officer from the London Professional Training Center. I can setup everything for you from start to finish. And also show you the market aspect of it. I will train the marketers and all you have to do is to sit back and see the Credit alert roll in from your distributors.

Anonymous

2 months ago

NigeriaLast activity 2 months ago

Go into raw foodstuffs sales and supply

Rice , oil , indomie , spag and all sorts of bulk edibles .

Food business is the new generation ritual whey so many people do not know about.


Do you due diligence , visit companies for cheap supplies and manage your business by yourself for the first 2-4 years to see how the turn over is gonna be .

You can as well have a mini gas depo beside to cap it all .


Or get yourself a student visa to study in uk this January if you ain’t really business oriented.


May peace be upon you big brother

Recommended Topics


g/People

455 followers

Last activity yesterday


g/Dating

1575 followers

Last activity yesterday


g/Life

737 followers

Last activity 5 days ago


g/Work

1142 followers

Last activity 28 days ago


g/Christianity

1275 followers

Last activity 6 days ago