Business You can start with 50k in Nigeria and make profit.

 

 Do you have N50,000 (50k) but don't know the kind of business to start? Well in this article I will cover the type of business you can start with your 50k and make profit. 

If you want to start a business with 50k then you should be thinking of selling products owned about other people. You can call this type of business a drop shipping business but is a little different from the normal drop shipping business everyone knows it's something have tried myself and made some profits.

What Business can i start with 50k in Nigeria?

The business you can start with 50k in Nigeria is drop shipping. You can start a business with 50k in Nigeria by selling other People's products online. You might be Wondering if I'm selling other people's products online then what is the 50k for?Lets dive in. To sell people's  products online via presale is not easy because most online buyers are very suspicious of everything they see online due to high rate of online scams so if you must sell online especially products you don't own then be ready to take the risks involved but you can actually minimize the risks to a reasonable deal.

Read Also: Can a blog be used for Business? 

How do I sell People's products online?

• To sell peoples products online in Nigeria you first need to get a supplier and a trusted one.
• Verify the supplier to be sure he or she is genuine.

After you have done the two mentioned tasks listed above then you are good to go the question now is how do you do those task? Wahala! Lol.

To sell peoples products online you must get a supplier who sells online they are plenty in Nigeria. 

You can head over to Trade fair market for those living in Lagos Nigeria you will a lot of suppliers who are ready to do business with you. Most of them have whatsapp groups where they display their products you can sell online but the problem here is that you have to pay first before they release their products that's where your 50k comes in. 

To be successful in this business and build customer trust you offer what we call "Pay on Delivery" this means when customers order for after you have advertised online then you send them the product when your dispatch rider gets to your customer location then you tell your customer to pay then after confirming your payment then you release the product finally to your customer. 

Make sure the products you advertise is exactly what you send to your customer be honest. With these strategies be rest assured you will make good profits.

What type of Products can I sell online in Nigeria with 50k?

1. Clothing
2. Eye Glasses
3. Juve 
4. Pillowcase 
5. Shoes
6. Slides
7. Hand bag
8. Mosquito killer electronics machine 
9. Sneakers
10. Wrist Watch
11. Skincare Products 
12. Ankara
13. Home appliances
14. POS Business
15. Mini Restaurant 

In my own opinion based on experiences I will advise you start with shoes and sneakers. There are shoes available for sale online these shoes cost from N6000 (6k) To N50,000 since this article is targeted at your budget of 50k I will focus on just 50k maximum.

How do I verify a Supplier?

 

To minimize risks and avoid scams you need to visit your suppliers physical business location check out his or her products ask for the prices and grades of the products collect their phone number and other contact details most of them have WhatsApp group  so you can join their WhatsApp group to see latest products with updated prices. 

Don't  for get to ask for logistics details so you won't have issues delivering your products. Some of them delivers to all state in Nigeria but if you are to deliver outside your own state or outside lagos state for example then your customer has to pay you first before you send them the products you have to let them know you offer pay on delivery within your state so if they have someone within your state they can tell the person to get the product foe them then send to their final location otherwise it has to be presale. Since you live in Lagos it will be easier to get to trade fair if you are not living in Lagos don't worry I will make articles on those that live outside Lagos Nigeria. 

How do I get customers fast?

1. Offer payment on delivery: When you offer payment on delivery customers tends to trust the seller easily and also recommend you to their friends.
2. Sell quality products
3. Don't over price your products: don't sell counterfeit products for the original price
4. Don't over put profit on your products
5. Deliver your products ontime 
6. Offer discounts and promos
7. Tell your friends about your business and ask for recommendations
8. If you have spare cash you can run online ads this will boost your customer base. With 5k you can run ads on Facebook and Instagram
9. Post your products on Jiji.ng, OLX, facebook Marketplace. 
10. Make live videos of your products and post then as reels on Facebook and Instagram
11. Open google business: when you make sales ask your customer to leave a 5 star review on your google business it will help you build customer trust while you gain new ones.

How do I make profits.

To make profits is simple. Since I chose or advised you sell shoes and sneakers based on my experience suppliers sell shoes for 6k, 7k, 9k and so on you can just add 5k profit to each of those products and you will make cool profits. When your customer is placing orders be sure to let them know that they are paying for delivery too some dispatch charge N2500 to N3500 let them know while finalizing your orders for those buying from outside your state tell them you will waybill your suppliers will handle that for you.

Protips: Always keep your customers away from your suppliers as much as possible. Because once your customer finds out that your suppliers sells cheaper then you will loose that customer instantly be smart and considerate in your dealings.