If you have 1 million naira to start a business with, count yourself lucky. Many people today have bright ideas and brilliant business plans but lack the needed funds to make their plans a reality. While 1 million might not seem like a lot of money, it is enough to start up a business that could yield millions after a couple of years. This article lists 10 of such businesses that are sure to yield profit.

1. Restaurant: food is a basic human need that would never go away. With 1 million naira you can establish a decent restaurant or eatery at a strategic location and cater for this need of hundreds of individuals on a daily basis while making huge profits from it. The best places to locate a restaurant or an eatery would be in a business district, along a busy road or anywhere with high human traffic daily. With about 200,000 naira you would be able to get a reasonable space in an average town in Nigeria for a whole year. You do not need to have an enclosed space to start your restaurant an open space will do. You just need to erect canopies or tents and that can be done with another 200,000. The next thing on your list will be to get all the necessary cooking utensils. You should be able to get that with another 200,000 and what will be left would be to get a couple of chairs and tables and some decorations are done to make your restaurant attractive and have a welcoming look. When all of that has been taken care of it is time then to source foodstuff. The best way to do this would be to go to the big markets or what is known as "bush markets" which can be found in rural areas if possible. Do not forget to source water and different kinds of drinks. If you do not have a refrigerator it is not a problem as you can start by buying ice blocks from ice block vendors to cool your drinks. The great thing about owning a restaurant is that you can never be on the losing end People would always be willing to pay good money for good food

2. Grocery store/supermarket: Everyone goes to a grocery store or a supermarket at least once a day. Where else would you get your everyday supplies? Grocery stores at best located in residence show areas. This way you already have a customer base of those who live in your vicinity as they would prefer to shop from you than to go to father stores. A grocery store or a supermarket does not have to be extremely big. It just needs to have all the right products stored in it. In many average cities or towns in Nigeria, you can rent a shop for 400,000. Another 150,000 or 200,000 can be used to make shelves and compartments or show glasses in the store that would be used to accommodate or hold all the products you plan to sell. The rest of the money can then be used to shop for provisions and supplies from wholesale marketers and you can start your business in no time.

3. Sales of fabrics: This is a booming business in Nigeria. Being an African country there is always the demand for African prints which are popularly known as Ankara. There is also a constant demand for other kinds of fabrics such as lace, animal prints, English prints, and Polish fabrics among others. With 400,000 you can get a nice shop in a market or a busy location and use the rest of the money to stock up on different fabrics. To get the most out of this line of business you should run ads on your various social media handles and make a name as a go-to person for what Nigerians call "aso ebi". (Uniform dress/fabric worn by some people during special or festive occasions)

4. Poultry: The poultry business allows you to make a profit quickly. If properly done you can get 60% of your investment within 3 months. When it comes to poultry what you need is to get a space that would accommodate a good number of birds, make coops that allow for natural behaviour, get feeding trolleys and ensure there's a heating system in place to keep the birds warm. Get as many birds as the accommodation you have can contain, make provision for their feed and vaccination and in 8 weeks or thereabout, the birds would be ready for sale.

5. Transportation: you can never go wrong with the transportation business in Nigeria. In all states, the transport sector is dominated by private individuals. You can choose to get tricycles or motorbikes depending on what is most accepted where you reside. With 1 million you can get three bikes or two or three tricycles. Give these to individuals on hire purchase and collect as much as 15,000 to 25,000 weekly. On average you are sure to make 100,000 naira monthly and this simply means that in less than 6 months you have recouped your investment. Before handing out any of these vehicles to any individual be sure to have a solid agreement duly signed by both parties

6. Boutique: The best kind of boutique to own is one for females and kids. It is a known fact that women shop more for clothes and shoes than men do. Boutiques are best located in markets and areas with high human traffic. To start up a boutique business would need a moderate-sized shop and you would also need to get hangers and mannequins of different sizes because these are essential to how you display your wares which would attract customers. With half a million naira you can get a shop and a couple of mannequins. The other half of your start-up funds can then be used to source for items. You can get items from markets in Lagos State where clothes are remarkably cheaper than in other states and even choose to buy or source for clothes from online stores like Alibaba and AliExpress and import them down here.

7. Frozen food/freezing services: items like chicken Turkey and fish are staple foods amongst Nigerians freezing these foods is a sure way to keep them fresh. To establish a frozen food business you simply need to have a couple of refrigerators;2 would do for a start and a sound generator given the fact that Nigeria's power supply cannot be relied upon. You can also offer freezing services to individuals who may not have a refrigerator. This can be done such that people bring items that they want to freeze and you put them into proper packages and label them clearly and keep them frozen for them at a fee until when they need it.

8. Confectionery/pastry shop: you do not need to be a caterer or a baker to own a pastry shop, you also do not need a conventional or regular kind of shop as a truck or a fancy stand will do just fine. Whatever kind of structure you decide to put up and show you make adequate provision for a kitchen space where all baking and preparations can take place under hygienic conditions. Ensure you get all the needed equipment and hire someone who knows the job to handle the day-to-day affairs of the shop. Your job is that of oversight. Purchase equipment such as mixers, mixing bowls, scale, decorating tools, baking pans, oven and all other necessary equipment. You can decide to set up a moderate seating arrangement where people can come, sit and have snacks and drinks.

9. Sale of cosmetics and jewellery: everyday people take deliberate steps to enhance physical beauty and as such you can never go wrong or be on the losing end in the cosmetic business. The best place to situate a cosmetic shop will be in a marketplace where it is visible to one and all. You need to get in contact with wholesalers of different beauty products both organic and inorganic. In addition to cosmetics, you can also sell jewellery such as necklaces, earrings, wristwatches, bracelets, bangles etc. Here is an overview of what the cosmetic business looks like. https://hitbusinessideas.com/is-cosmetic-business-profitable/

10. Tailoring franchise: you do not need to have an idea of how to sew before starting this business. Every day people graduate from fashion school without having the capital to start up something of their own. Partner with such people; you have the capital, they know. Get your lawyer to come up with an agreement that profits both parties and states the conditions of the partnership. Get a befitting store, buy as many sewing machines as you can, both manual and electric, purchase mannequins and other equipment that a tailor's shop would require and you are good to go. Look up this article on how to write a model business plan for the fashion business. https://smartsmssolutions.com/blog/83-updates/1787-sample-business-plan-template-for-a-fashion-business

All 10 businesses mentioned above have been tested and trusted businesses that yield a profit if done correctly. Before going into any of these businesses be sure to carry out a feasibility study and draw up a business plan that suits your reality. Here is help on how to write an effective business plan.

https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1524-how-to-write-an-effective-business-plan

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