Bisina SomtoEmbarking on a Business With 50K with a budget of 50K in 2024 is not only feasible but also opens up a myriad of possibilities. From traditional sectors like food to emerging fields such as social media management, the opportunities are diverse. Below is a list of 15 Businesses You Can Start With 50K in 2024
Fast-Food Business
You do not necessarily need a stall or shop before you can sell food. You can start in your kitchen. With your gas cooker and pots, you are set. It is advisable to start with a particular food item, then over time, add snacks and other side dishes.
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You can also start selling yourself at events, and parties, by offering to cater for their feeding. You can also leverage the use of social media platforms like Instagram and TikTok, to promote your business. How’s that for starters?
Soap Production
Embark on the soap production venture in 2024; a product indispensable in most households. With a few ingredients and YouTube tutorials, you can start crafting washing and bathing soaps for homes. Partner with supermarkets for weekly supplies and use social media to enhance visibility. If you possess strong writing skills, consider marketing your products effectively to kickstart your career.
Writing
Writing doesn’t require a laptop; your phone is enough to begin your journey to earning money. Explore diverse writing careers such as copywriting, content writing, scriptwriting, resume writing, and technical writing. Develop a portfolio using free websites and showcase your skills. Put yourself out there and launch your writing business.
Social Media Management
Becoming a professional social media manager involves obtaining certifications and gaining experience through free courses or internships. If you excel at handling social media presence and creating engaging content, this career is for you. Maximize social media platforms to your advantage and create content even from the comfort of your bedroom.
Artwork
Utilize your talent for drawing and painting by starting an artwork business. Begin with basic materials like painting brushes, paints, and canvasses. Draw and sell your creations, and reinvest the proceeds to set up a studio where you can teach others and charge for your expertise.
Fashion Designing
Start a fashion designing business even with a limited budget. Borrow sewing machines or offer to cut clothes for established designers. As your business grows, invest in your equipment and establish yourself as a global player in the fashion industry.
Making or Cutting Hair
In this digital age, offering home services for making or cutting hair is a viable business. Utilize platforms like TikTok to advertise your skills and attract customers.
Make-Up Artistry
Explore the ever-evolving field of make-up artistry. Start with basic materials, use relatives as models, and create a YouTube/TikTok channel to teach others. Consistency is key, and you can also recommend suitable make-up products based on different skin tones.
Selling Perfumes
Tap into the perfume market by starting with smaller sizes and gradually expanding. Consider selling perfume oils at higher prices for better profits. Leverage social media to promote your business.
Home-Schooling
If you have a degree in education, consider starting a home-schooling business. Be a lesson teacher, stay updated on the current curriculum, and offer your services to help students.
Photography Business
Turn your passion for photography into a business by offering services for events, portraits, or product photography. Showcase your portfolio on social media to attract clients and reinvest in better equipment over time.
Online Fitness Coaching
Meet the demand for health and wellness by starting an online fitness coaching business. Create personalized workout and meal plans and use platforms like Instagram, YouTube, or fitness apps to share your expertise.
Virtual Assistant Services
Become a virtual assistant, providing administrative support remotely. Utilize freelancing platforms to find clients and gradually expand your services.
Eco-Friendly Products Store
Cater to the demand for sustainable living by starting an online store specializing in eco-friendly products. Collaborate with local artisans and promote your store through social media.
Language Tutoring Services
If you are proficient in multiple languages, consider offering language tutoring services. With online platforms, you can connect with students worldwide and provide personalized lessons. Focus on in-demand languages or niche markets, such as business language training or exam preparation. Establish credibility by obtaining relevant certifications and showcasing testimonials from satisfied students.
Frequently Asked Questions
What are the Cheapest Business to Start in Nigeria
- Fast-Food Business: Begin in your kitchen, selling homemade food items.
- Soap Production: Start making washing and bathing soaps with minimal ingredients.
- Writing Services: Offer copywriting, content writing, or resume writing using your skills.
- Social Media Management: Utilize your social media skills to manage accounts for businesses.
- Artwork: If you have drawing or painting skills, sell your creations.
What Business can I Start with 50k as a Man
- Freelance Services: Offer services such as graphic design, writing, or programming.
- Affiliate Marketing: Promote products for companies and earn commissions.
- Selling Products Online: Start an e-commerce business selling affordable goods.
- Home-Based Catering: Begin by catering for small events or selling food items.
Somto is an Entertainment Reporter with a passion for uncovering the latest stories in the world of entertainment. As a dedicated journalist, Somto delivers in-depth reporting, exclusive interviews, and breaking news coverage.
She covers a wide range of topics, from celebrity interviews to industry trends and film reviews.
As an Entertainment Reporter for Prime Business Africa, She continues to provide comprehensive and insightful coverage of the entertainment industry, offering readers an insider's perspective on the latest developments and trends. She is a trusted source for breaking news, exclusive interviews, and thought-provoking analyses.
Somto is dedicated to providing valuable information and entertainment to her audience while upholding the highest standards of journalistic integrity.
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