What business can I start with 1 million naira

Answer 1

What are your interests? Where do you reside? What are their peculiar needs there? What businesses have you done before? All this will help you to make a shortlist of businesses you can start with 1 million naira (in Nigeria). I'll however give some business ideas that you can consider.

1. pure water manufacturing (water ALWAYS sells)
2. operating cold room
3. ice cream parlour
4. bottling Zobo/soya milk/palm wine
5. modern infant care center
6. beauty studio
7. laundry services
8. events management
9. block moulding
10. sign writing
11. floral shop
12. manufacturing chemicam products
13. buying kolanuts from villages and exporting (or sellinh them to exporters)
14. etc

The list is long. If you can give more information, I can help you narrow down your search.

My Signature::...don't kill ur DREAMS, execute them

Answer 2

1 million naira is a lot of money. but it is not a whole lot of money. In the present nigeria economy, 1 million naira will start a small scale business. To start a medium scale business, you'll need  about 3 - 5 million naira or even more. So have this on mind.

Shop/Office/warehouse is going to take about 200,000 naira

You should keep 100,000 as fall-back money

So you have 700,000 to spend, except you meant 1.5 million when you said 1 million naira.

Answer 3

THat is not bad at all for a start.

My advice is this: There are alot of business you can start with that money you have now (1Million Naira). But, not all the business the money can start will it be able to sustain.

 So, I advice you to look at problems in your immediate and future environment, discovered a solution, compare it with your passion and if your passion and faith support it. It will surely succeed or else, it may not last even if well started.

 Invest only in what you know and can explain to other very well. Your passion is number 1 if you are to run the business yourself and grow it forever.

You may reply with your discovery for me to help guide you through and if not there are others here that can help out.

Olasunkanmi A. Fakeye
http://www.openinformations.com.ng

Answer 4

What do you currently like doing?
Like watching football"? -- Open a viewing centre/sports lounge with class
Like watching movies? -- Open a video club with your own custom ideas
Like making ur hair every week? (If ur a woman) -- Open a Saloon with style. Even men also can do this, so if ur a man reading this u can also open a Saloon too, there's no shame if dats what u love.

Just think of anything u can have fun with, then think of a way people can pay u while u keep enjoying what u do. The money will come and u will be satisfied on the long run.


IDEA: Open a saloon with guys as the stylists / open a barbershop with young ladies as the barbers.

Just my 2cents...

Answer 5

Having millions of Naira at hand to Start a business is not what really matters.Below are questions you must ask yourself before you start any business.
Do I like this business that even If profit does come as quick as expected I will still be doing it?
Do I have knowledge or skills to do the business?
Do I have enough startup capital to do the business?
And many more.
Therefore, after answering these simple questions then you can look around for a profitable business to do. I will like to recommend a website where you will find tons of business ideas and opportunities in Nigeria. <a href="http://naijabizcom.com/category/business/">Profitable Business ideas and opportunities in Nigeria</a>