Top Most Profitable Business to Start With 500K or Less in Nigeria (2022)

Profitable Business to Start With 500K or Less in Nigeria…

Are you still wondering about the kind of business you should venture into with that 500K in Nigeria? or maybe you don’t have up to 500 thousand nairas and you still want a business module that you can start with that money in your hand/account and earn more income daily? Then, this guide is all you need.

Starting up a very profitable business with 500k or less with the ideas in this post will be very easy. Most of these businesses require no experience when starting up. Some of them can be operated as a side hustle or part-time.

Business to Start With N500K or Less

Yes, It is possible. 

N500k is a splendid capital to start a business with. If backed up with genuine commitment and hard work, then in no time, a lot of profits will seep into the business. This post will explore some of the most profitable businesses to start up with N500k or less.

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Below are the list of Businesses you can to Start With N500K or Less

1. Car Wash Business

Most Profitable Business to Start With N500K or Less

Car wash business is one which you can start with N500K or less and is sure of giving you a considerable amount of profit. It is considered to be among the most attractive businesses to entrepreneurs. Every car owner needs to clean their cars, as it is a highly valued asset and a source of pride to Nigerians.

According to reports, there were about 17 million cars in Nigeria in 2018. This shows the highly profitable nature of this business. Car wash business owners could earn as high as 10 million Naira a year by modest calculations.

The perks about this business are that not much experience is needed, and the business equipment is easy to procure at an affordable rate.

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2. Football Viewing Centre Business

Most Profitable Business to Start With N500K or Less

Football viewing centre business is one of the businesses you can start with N500K or less. In a country like ours, where every adult male, even children, are football fans.

Then, the business already has a robust potential customer base. Football is inspiring when watched in a group, so profiteering on the raw football passion of Nigerians is a great business prospect.

No experience is needed. The business requires space, a backup generator, fan, TV satellite, and seats. A good sense of accounting is required to balance the expenses.

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3. Laundry services

Most Profitable Business to Start With N500K or Less

If you live in an urban area, then this is a great business you can start with N500K or less. Students and business professionals well patronize laundry service.

It is a business known for its high return on investment. It is flexible and easy to establish. You can even start the business in your house before you expand to somewhere more prominent.

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4. Bookshop Business

Most Profitable Business to Start With N500K or Less

If you are passionate about sharing knowledge, then starting a bookshop business with 500k or less, is a beautiful idea. It is a business centered around students and other professionals.

Selling books to students alone will guarantee you high earning. It will give you the independence and personal satisfaction you need. It requires no experience.

5. Poultry Farming

Poultry Farming business is known for its high profitability. It is a business where too much capital is not required, and a lot of space is also not needed to kick off the business. You don’t have to wait too long to profit from rearing chicken, as chicks take a short while before maturation.

The business is also known for its low maintenance cost, and in Nigeria, chicken meat is always in high demand.

It is a great business to start with 500k or less.

Read: How to Start a Successful Online Business in 2020

6. Fish Farming

Fish farming business is a great way to make a profit. Nigeria is among the world’s highest consumers of fish. It requires experience and more managerial abilities. It is not risky and profits can be generated in less than six months.

Fish ponds, excellent water facility and quality fish are what is required for the business. The demand for fish is considerably on high. It is a business to kick start with 500k or less.

​7. Tailoring and Fashion Designer

This is one of the skill-based home business ideas you may start in Nigeria right now. Once you’ve mastered this skill, you’re set! You’re all set to cash out.

Tailoring is currently more profitable than it has ever been. People frequently sew new clothes, and tailors play a significant role in this. Some tailors even use an online marketing strategy to entice customers to advertise their work.

Yes, this is something that some people do. Anyone in Nigeria can start a daily income business like this with 500k or less.


Because individuals throughout Nigeria and the world have a basic need for clothing, the fashion industry is a powerful sector that will always be thriving in any economy.

As a result, opening your own boutique is a rewarding business venture in Nigeria.

Aside from this requirement, fashion is constantly changing due to the vast and varied interest in styles and desires. Starting a clothing boutique business in Nigeria can be lucrative, especially if you focus on women’s fashion.

Ladies adore fashion and styles, so it’s not an exaggeration to claim that this is a business that will interest you and of course, it is a good business to start with 500k.


Opening a restaurant is a good business to start with 500k. This business has always been on the increase in a country like Nigeria. This implies that it will never be out of style. You can open a restaurant now if you’re a superb cook.


However, you must guarantee that you offer good meals to keep customers returning. Everyone, regardless of circumstance, requires food, making the selling of food a profitable business to establish in Nigeria.

Yes, that’s it, Now If you have any questions on this, feel free to drop it at the comment section below and do well to share this using any of our share buttons –  Facebook, Twitter, Whatsapp or Google+

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