Are you a hardworking young person searching for an entrepreneurial venture? But it seems like most people think you need a substantial amount of money in order to be successful?
Contrary to popular belief, starting a successful business doesn’t need to break the bank. All that’s required is an innovative idea and some passion. Here are some profitable businesses you can start with just 20k:
1. Pet Grooming
If you have an affinity for animals, pet grooming could be the ideal business venture. No college degree or special license necessary – all that’s required is patience and hard work!
2. Green Consulting
Are you passionate about protecting the environment? Green consulting could be just what you’re looking for. This field is rapidly growing as more people strive to be eco-friendly and reduce their impact on Earth.
3. Thrift Shop
Fashion enthusiasts might enjoy thrifting as a business venture with your N20,000 investment. Here, you can purchase clothes at low prices and resell them for profit. While you can start this venture anywhere in the country, it’s best to locate an area where there are many people interested in secondhand items.
4. Real Estate Investment Trust
Investing in a Real Estate Investment Trust (REIT) is an incredibly lucrative business that you can start with as little as $20k. Through the REIT, you’ll have access to commercial properties without needing much paperwork – meaning you make regular income off of the property while also enjoying passive income generated from its sale. With REITs, investors have both direct ownership of their asset and plenty of opportunity for growth!
E-commerce businesses can be launched with as little as N20,000 (or even less). All you need is an e-commerce platform to sell your items and a dropship supplier who will handle shipping for you.
6. Blogging and YouTube Videos
Bloggers will find blogging and vlogging to be great business ideas to launch with as little as N20,000 or even less. These platforms are popular platforms where millions of people make extra income online through blogging or vlogging.
7. Image Consultancy
Are photography and fashion your forte, then image consultancy could be the perfect business venture for you. Through this service, clients can have their desired appearance tailored to them by selecting the ideal outfits for photos or videos. 7. Image Consulting
When photography and fashion come together in harmony, image consultancy becomes a lucrative opportunity.
8. Consignment Store
Are you looking for a way to make money without needing an extensive inventory, consignment shopping is the perfect solution. While you will still have to pay rent for space to store the items received, your inventory costs will be minimal since these are other people’s products that you are reselling.