With the current steady rise in the price of products in the market and current financial exchange rates, starting up a business would require more capital than what was needed 2 years ago. To many people 500,000 is not enough to start a business, but we know just what businesses you can start with 500,000 and make a good profit.

Consider the following businesses.

1. Football viewing and game center: a football viewing center is one business you can start with 500,000. It requires that you get a facility that can host a fair number of people. After all, the main reason people go to such viewing centers is for the bants and socialization. After securing a location, get seats and at least a television set. Depending on how big your center is, you might need to get more than one television set. To get the most out of your viewing center, add sales of both alcoholic and non-alcoholic drinks to the services that you offer.

2. A restaurant: you can hardly ever go wrong with restaurants. With 500,000 you can set up a modest restaurant that would cater for the needs of low-middle-income earners. In many states in Nigeria, with 150-200,000, you can secure a location in a business district or somewhere that is densely populated and always bustling with activity. It does not have to be an enclosed space, it could be an open space that provides shelter from the sun and rain. Another 100,000would get you a couple of tables and chairs. The other 200,000 can be used to source foodstuff and cooking utensils which you would need. Restaurants are best remembered when they have peculiar names. Learn how you can generate worthy names for your business https://smartsmssolutions.com/blog/118-sms-marketing/small-business/1579-how-to-come-up-with-a-business-name-for-my-start-up

3. Food processing: food processing is gradually becoming the next big thing in Nigeria. For individuals or families to process the food they eat themselves, that is a lot of work. But as a business, it takes little. Processing of local foods mostly involves sourcing foodstuff from big/bush markets where they would be cheaper, washing them, cutting them up and drying them before packaging. Food items like yam flour, plantain flour, cassava flour, custard, cornflakes, tomato paste etc are examples of foods that can be processed from the comfort of your kitchen. The major machinery needed is an oven and an air fryer which are excellent tools for drying some food items, a sealing machine would also be required. All of those can be gotten with about 200,000. Another 200,000 would go for buying and transportation of foodstuff from the farm/market to where you are located. A little less than 100,000 would go a long way in getting excellent social media marketing and graphic designs for your products.

4. Poultry farming. A poultry farm can be started with 50 birds(broilers). Appropriate housing that permits natural behaviour is required. The birds would also need to be fed and given proper medication such as antibiotics, multivitamins, vaccines etc to keep them healthy. All of this would cost about 200,000. This cost is based on the assumption that you would start with 50 birds. With 400,000 you can start with 100 birds, and that leaves you with about hundred thousand for miscellaneous. Profit is usually around 50-75% of the investment. The great thing about poultry is that it ideally takes 9 weeks before the birds are ready to be sold or processed in any way, which means you do not have to wait a long time for a return on investment.

5. Daycare centre; a daycare centre is one great business that you can comfortably start with a capital of $500,000 full stop When it comes to a daycare centre you do not require much If your sitting room is spacious enough then you do not need to look for a location and that settles about 40% of what you need to start up. Once your location has been sorted you would need to get toys, baby beds, alphabet and number wall charts, baby walkers, a potty, a children's table and chairs. With 200,000 all these items can be purchased. If you need to source for a location other than your home, you still have 300,000 to get you a decent location. The great thing about running a daycare is that you do not have to be the one that takes care of the kids, you can take on an employee and simply play a supervisory role. Child care is a huge responsibility. See how you can make your daycare a great place for kids.

https://www.babylist.com/hello-baby/8-important-signs-of-a-great-daycare

6. Popcorn production and distribution: Popcorn is no doubt one of the easiest snacks to make. If you do not know how to make popcorn, watch a few YouTube videos and you would be good to go. Secure a location, a busy bus stop would be nice, get in your popcorn machine and the raw materials you need. To do the most in this business, you can make and distribute to stores and supermarkets at a discount. To do this, you would be required to properly package your products. All of this can be covered with 500,000.

7. Sale of thrift clothing. With 500,00, you can start a thrift business. You can decide to have a location other than your house or you can sell from your home. Either way, the amount of money in question would go a long way to establish a thrift business for you. Be sure to get a ring light and create a good background where you would take pictures and videos of the clothes that are available for sale as most of your customers are on social media. Mannequins are also important as you may not be able to afford the services of models at the start of your business. TikTok does a lot for marketing and advertising in this line of business. https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1588-tiktok-videos-for-marketing-how-effectiv

The key to succeeding in all the businesses mentioned here is planning. Do not look down on any business thinking that it is small and nothing could go wrong as a lot can go wrong and would go wrong if not carefully thought out and executed.

As you start your business, make communication with your customers and business partners an important and regular feature of your business. SmartSMSSolutions offers an unbeatable bulk SMS service. Sign Up today for a free bulk SMS account with us.