If you are looking for strategies to invest Business Ideas to Invest from 500,000 Naira and above. There are many different business ideas you could consider, depending on your interests and skills.
We are glad to share some of the best business ideas to invest from 500,000, Naira to start a small business to investing in stocks.
No matter what you choose, it’s important to do your research and make a plan before you begin. Are you ready to learn more? Keep reading.
There are Business Ideas to Invest from 500,000 Naira and above with, if managed properly the businesses can boom the best Business Ideas to Invest from 500,000 Naira with are:
1. Poultry Farming
Poultry products such as eggs and broilers are consumed in thousands of tons daily in Nigeria. Especially in the evenings, poultry meat is always barbecued in every street corner in all parts of Nigeria.
Decide on the poultry bird type you want to rear. Focus on a type of poultry farming
Many types of poultry farming are:
- Layers breeding
- Broilers breeding
- Poultry feed production
Decide and get a location for your poultry business. Build your poultry house structure. Purchase day-old chicks
Buy poultry pen equipment such as feeders, egg trays, cages, coops, lighting systems, waste disposal system, incubators, nests, and the likes
Get customers to know about your business by advertising it. Employ qualified farmhands
2. Pig Farming
Pig farming is one of the most profitable types of animal farming in the world.
Pork meat is one of the most consumed meat types in the world and Nigeria is no different so you don’t have to worry about the unavailability of the market for pork meat if you go into pig farming.
- Get a location for your pig farm
- Build the perfect pig pens to house your pigs
- Buy healthy piglets that you’d rear
- Purchase pig feed
- Regularly treat your pigs and their pens by employing the services of a veterinary doctor when needed
- Employ experienced farm hands
- Market your pigs
3. Fish Farming
Fish farming is certainly rewarding in Nigeria. You could choose from tilapia to catfish to many others but the two are the most profitable in Nigeria. You could also even mix fish farming with aquaponics.
- Get a good place to locate your fish farm
- Ensure there is a dependable good water source around
- Decide on a fish pond which is appropriate
- Choose the fish species that you think is right for you
- Purchase fingerlings or juveniles that are viable and healthy
- Learn and master the type of fish feeds and feeding habit
- Start advertising your fish before they are matured for sale
- Be professional
- Understudy and expert to get properly trained in fish farming.
4. Goat Rearing/Farming
Goat farming is for many purposes as the market is always there for meat, leather, milk, and even for their waste which is animal manure.
- Study the goat market.
- Get a large space for pasture for rent or your personal property.
- Secure the pasture by fencing it. Barb wires are the cheapest way.
- Build goat barns to shelter your goats from weather elements.
- Purchase the right breed of goats. The breeds are Nigerian dwarf goats, Nubian goats, alpine goats and so much more. You could buy female goats who are young like 5 or 6 and when the time is right, you should mate them with high-quality he-goats.
- Book schedules with a veterinary doctor which are regular.
- Market your goats.
- Make plans to keep the kids that are of the best quality and sell those of lesser quality.
5. Laundry Business
By now you already know there’s a market for the laundry business as there are persons around even in your neighborhood who require laundry services as long as you can provide quality service.
- Advertisement and good interpersonal skills are also very relevant in this business.
- Study the laundry business
- Draw up a business plan for your laundry business.
- Register your laundry business with the right authorities.
- Get a shop for your laundry business.
- Purchase special laundry equipment.
- Fix prices for your laundry services.
- Advertise your laundry business.
6. Fashion Designing Business
The fashion designing business is always going to be relevant as everyone always wants to look their best so it is a good business to invest 500,000 Nairas.
- Research about the fashion designing business
- Decide on which fashion style you want to design
- Carry out market surveys and the like via a structured business plan
- Get a shop or office space
- Employ qualified workers
- Advertise your fashion design business
- Partner with big brands.
If you have good cooking skills or even know how to prepare meals, this is perfect for you. Even if you don’t have professional skills,
- Decide on the type of restaurant you want to operate.
There are several types of restaurants such as fast-food restaurants, barbecue restaurants, ethnic restaurants, quick-service restaurants, casual dining restaurants, fine dining restaurants and so much more.
- Study the restaurant business and what is obtainable.
- Decide on a name for your restaurant business brand
- Ensure your restaurant is properly registered
- Draw up a business plan for your business
- Locate your business in a strategic
- Ensure you get a restaurant sales permit and other permits, and find out what tax restaurants pay.
- Draw up an attractive menu list
- Purchase a few restaurant business equipment
You could make do with the kitchen utensils you already have, buy big pots, and start up with cheap tables and chairs and tablecloths. When you make more money, you can invest more in it.
- After setting up all of these, you can seek funds
- Employ catering staff and a chef.
- You could start with one and an assistant at first.
Advertise your restaurant business.