Working for someone is thrilling until you start feeling less appreciated or cheated. Employees have little control over their lives because they have to answer to someone (their boss), while Entrepreneurs have total control over their lives and future. No matter how little you start, if you do the appropriate things, your business is set for growth, and you may end up earning more than you did when you were an employee.
The benefits of being an Entrepreneur are much, but there is a common problem people face which discourages them from walking down this road, and that is little or no capital at hand. While some business requires huge capital to set up, others may require little or no capital to start. Today I will show you 8 lucrative business you can start with less than 10k.
1. Soap Production
Soap is one item that everyone makes use of. There are different types of soap (bathing and washing soap), and soap comes in different kinds- bar, liquid, and detergent. Majority of the crowd prefer bar soap for bathing, liquid soap for washing dishes and surfaces, and detergents for washing clothes. The good news is that the ingredients needed to produce soap are not expensive, and you can make it from the comfort of your home, so no need to rent a store. The basic ingredients for soap making includes- coconut oil (you can get it for N2500, or you can extract it yourself from two large coconuts), olive oil (N1400 or N1500 for 250ml), palm oil (N300), fragrance (from N300 above, depending on your choice), and water; so it will cost you not more than 5k to purchase your ingredients. You also need hand gloves, measuring cup, stainless basin, plastic spoons, and towel. You would need to look for containers to put the soap after making. If you don’t know how to make soap and you would like to start this business, simply go on YouTube and search for “how to make soap”.
2. Make-over Services
90% of women population apply make-up; 50% of this population contacts Make-up artists to do the work for them. Make-up is a part of female lifestyle; every woman wants to look beautiful and confident, and make-up does the work for them. You can start your own make-up business with 10k, by buying just the important products and tools to start with; as people patronize you and you start making money, then you can buy other tools and products.
3. Day Care
Statistically, there are more working class mums than full time house-wives. When these women go to work, they would need a safe and comfortable place to keep their children until they return at the end of the day. Providing a day care center is profitable because you can bill parents 5 or 10k monthly per child, so if you have 10 children in your care, you will earn 50 or 100k monthly depending on the price per child. Your house can serve as a day care, so you don’t have to think of capital to start this; you just have to setup your house to be safe, comfortable, and welcoming. Day care is one of the best business you can engage in because it doesn’t require much skills, just how to care for children.
4. Event Planning
Event Planning is another business you can start up with little capital. Working from home removes the huge financial burden of renting an office; also, your choice of equipments determines how much you will have to spend. Event Planning has more to do with the Event Planner’s personality, and not on offices and equipments. However, you would need a convenient place to work and plan your events, of which your home can provide that.
5. Fast-food Business
Food is an essential commodity. Everyone must eat. Because of demand in time many people barely cook, instead they prefer to grab a meal on the go, so as to meet up with their schedule. Also, manual labourers would need to eat often (at least twice during the day) to get strength for work and they can’t go home to do this, so they will have to buy food from the nearest restaurant (fast-food joint). You can get food items very cheap, especially when they are meant for cooking to sell. In order not to spend much when you just start this business, consider cooking simple universal meals like, rice, beans and stew; once you start making profits, you can add other dishes to them. You can make use of your kitchen equipments to do the cooking. Contact a carpenter to erect a small shade for you to start your business, or you can start with a wheelbarrow to put the food, and a big umbrella to serve as shade. You would not spend up to 10k to start this business and you can expand it as you make profit.
By catering, I mean cooking for events. 99% of people don’t cook for their own events, instead they hire caterers to do the job. Weddings, burials, meetings, birthdays, naming, and so many other events would require this service. To start this business, you need to be a skilled cook. You can make use of equipments you have at home (pots, pans, basins, spoons, knives, fitter, colander, and coolers. You don’t need to rent a store for cooking, instead you can cook at the back of your yard or by the side of your compound, then transport the food to the venue of the event. The money to buy the ingredients you would need to cook the food would be given to you by your client, so you don’t have to worry about that.
Some people want light food during the day, or maybe something to chew to keep the mouth busy. There are so many snacks that don’t require professional equipments to prepare; your bowl, fry pan, knives, spoons, and chopping board can do. All you would need to buy is your flour, vegetable oil, baking powder, butter, eggs, flavour, and other ingredients; you can use them to make snacks like buns, eggroll, fish roll, and doughnuts. It will depend on the quantity, but you can prepare these snacks for sale with 4 to 5k, or even less than that. Once your snacks are ready, get nylon for wrapping them.
8. Fitness Trainer
Nowadays, people (male and female) are overly conscious and concerned about their body. They want to loose weight, reduce waist line, have a flat belly, build their muscles, get abs, and lots more, but they can’t do this alone, hence they enroll for a fitness program or hire a personal trainer. You can be a Fitness trainer and start your own fitness program or train someone privately. The basic requirements to start up is to be physically fit, because you can’t give what you don’t have, people would only follow you if they see fitness in you. It will cost you nothing if you are to train someone privately, because they have to by their own equipments and you just have to coach them. It is advisable you start as a private fitness trainer, then you can save money to buy equipments and open a gym and start up your own fitness program.
There you have it! 8 lucrative business you can start with less than 10k. I hope reading this article has inspired you start your own business and become an Entrepreneur, since capital don’t have to be the problem. Thanks so much for reading. See you at the top!