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Blog Reader Asks... (What Business Can I Start With My Savings)

I would like to ask our readers what profitable business i can do with my savings of 300k from my salary. My Company is going to be sold soon and i dont know if i will be affected. I currently earn 200k every month after tax and i do not want to be caught unawares. Even with Job security i would still like to try my hands on something by the side because i planned to buy a Car next year. Thank you.


Just two nights ago my darling friend and silent blog reader (LOL) Idu came over and one of the things we discussed was what businesses someone can start with about 100 thousand naira. We did some brainstorming and Idu came up with some really good ideas (Speaking of ideas generally, Idu you're awesome. The monies your parents spent on your education wasn't wasted at all!) After she left I gave it more thought. 

First off, I'd just like to ask the poster what she's passionate about (apologies if you're not a she), if she's got any strengths and skills and what her gifts are. When these questions are answered I'd also like to ask how she thinks she can monetize her gifts/strengths/skills. I'm looking at this from the angle of gifts/strengths/skills, because in my opinion it's one thing to start a business, it's another thing entirely to keep it running, make it grow and yield profit, which should ultimately be the idea, yes? So unless you're one of those people who love business and have a natural flair for making and doubling money, going into a business you have no interest in could be detrimental. 

And yes, even if you remain in the employ or get another job, which I pray you do ASAP, it's always advisable to have a secondary source of income. I think there's quite a lot you can start with 300k but I must first advise that with cash limitation you should avoid a business where you would need NAFDAC authorization, for now, as that would really eat into your capital. Also, factor in registering a business name. This isn't a prerequisite but something you might want to consider. It's not so expensive and it is also one of the services I render so if you're looking to register a name or a company call me. Lastly please remember to do your due diligence and market research before embarking on any business no matter how big or small. You ought to do all you can to ensure that your business thrives. 

That said, these are the businesses I can think of off the top of my head that you can start with 300k. Some may require creativity (and some training) and maybe even much less than 300k eg 
Makeup artistry 
Bead making 
Food business (catering/small chops/bukka... If you're looking to avoid renting a place you can do cooking business where you deliver directly to homes and offices, this would require much more advertising)

There's also 
Buying and selling (clothing apparel, accessories etc)
Fish farming (ie cat fish; relatively cheap but you must have space and access to water)
Trading in baby items (this is one market that usually 'moves' because there will always be babies and mothers often want the best; baby food/clothes/shoes/drawers/toys/snacks/formula/diapers etc)

One more idea I can give you but this is not something I would do personally. I know a few people that do it and it's sure to almost always make you money. And that is to be a money lender. For instance you lend someone 50k, that person pays you back in three months with a certain amount of interest. So say for instance you lend 6 people 50k and with the interest on it they pay you back at least 60k, you've made 60k. You do not spend this money but inject it back and now lend 360k to more people, maybe more interest and even more profit. This is a passive way to make money and it works well for the people that do it. Your money doubles and grows and you don't even lift a finger. Now, be aware that there are challenges with this line of business and PLENTY thought should be put into it for anyone who's considering it. 

I'm a layman and my knowledge is limited, this poster isn't the first person to ask this question so I'm sure so many people are itching for ideas and answers. So over to you TTB readers. 

Also please if you're running or have once run a profitable business you started with less that N300,000 please tell us about it. Thanks. 


  1. I know this isn't part of the post,but thank God with me, my baby girl arrived all perfect. Biko everyone should go thank their mama cos what I saw.... Our mothers are too much

    1. Congrats on ur new addition. May she always be a source of blessings and pride to you.

    2. Congrats o... God bless you and your baby.

    3. Nice one! Congrats and lots of blessing with her arrival

    4. Congratulations. May she be a blessing to the world

    5. Congrats Mama! God bless the little one.

    6. Mama Baby, Ku ewu omo!

    7. Congrats newest Mama in town

    8. Congrats dear...Thank God for a safe delivery, May she remain a source of joy in your home and her generation

    9. Congratulations mama!!! **big smile**

    10. Thanks everyone and amen

    11. Aww...Congratulations!! :)

  2. To the poster i ask that you first of all dig deep to see what you are passionate about. Starting a business just to start one might leave you in a worse off position if you dont care about the line you go into. Businesses present challenges and unless you are enjoying it, its hard to get past those challenges.
    Do you like to cook, paint face aka makeup, sew clothes, teach people, make things? Or would you rather gamble - stock market? Do you just want your money to grow or do you need it to multiply? Can you aggressively chase debtors - money lending? You can do a lot with n300k, but what are ur interests? You cant be an introvert selling clothes and accessories for instance

    1. Stock market is gambling for only those not willing to learn. Wise investors makes money whether the market is up or down.

    2. Trading in the stock market IS a gamble.

    3. Yea right, same way every mysterious encounter is attributed to the witch in the village.

  3. "First off, I'd just like to ask the poster what she's passionate about (apologies if you're not a she), if she's got any strengths and skills and what her gifts are. When these questions are answered I'd also like to ask how she thinks she can monetize her gifts/strengths/skills. I'm looking at this from the angle of gifts/strengths/skills, because in my opinion it's one thing to start a business, it's another thing entirely to keep it running, make it grow and yield profit, which should ultimately be the idea, yes? So unless you're one of those people who love business and have a natural flair for making and doubling money, going into a business you have no interest in could be detrimental."

    Poster Thelma has given u step 1. Not everybody should do business, think about it 1st.

    1. Mehnnnnn this is sooo true, business isnt for everybody, i'm the wrongest person to ask, bought Jewellry worth a ridiculous amount (6 figures) many months back and i'm staring at all of it now and havent sold a single one, in fact, i think i'm going to start dashing it out, i feel like thats even what i'm meant to do with it; buy and dash out lol. I'm just going to accept that being a Lawyer/Law is my calling, but it hurts though cuz i need more than my 9-5. I think? Currently reading a book on finding your purpose by Myles Munroe (RIP), i hope i figure it all out soon enough.

      So dear Poster, take all the advice given and figure it out but you wanna know my advice? I dont know how youre going to do it but try to do all you can to make sure you dont get laid off when your company gets sold, as in start hustling it from now and talking to people and the 'ogas at the top', try to secure your current position/salary like now like yesterday and that 300k? Invest! This is the advice i would give myself and especially if you feel like deep down youre not really a business person. The truth is, you really need to be passionate about whatever business you get into. Everyone has a purpose, everyone has a reason for being here and the moment you realise this then you have struck gold. All the best.

    2. Fnlp, what kind of jewelry do you have? I tried my hands at jewelry also, wasnt really for me. But i was really good at disposing my stuff. Do you havr friends getting married? Gifts for the aso ebi bag- i did that with some of the stuff that i had leftover, still have a bit, but probably less than n100k from over n1m. Also are you on instagram? Are you willing to go to the market in lagos to ask around if you can dispose them in bulk even at cost or slightly below cost? All hope isnt lost. At least try and recoup part of your money. If you have plenty of the same item, think church choirs etc.

      Thelma i am addicted to your blog oh.

    3. hmmm good tips...thanks. its mainly neck pieces. instagram was the first place I said I'd start selling but till now I haven't even set up an account for it yet, I keep procrastinating so clearly its not my thing. never really thought of the bulk selling thing but now that you mention, I would definitely look into it. it wont be nice to just lose all of that money...thanks miss pynk.

    4. Can I sell them for you if they are really nice, I could sell them n then send you your capital while I keep the profit,want to start a small businesses but capital is just the issue. Send me an email if u r interested.

  4. Many awesome ideas from T & Pynk. Poster, whichever one U choose, I pray U are successful & ur profit outweigh everything else!!!

    Congratulations to the new "baby Mom"!

  5. In the same boat with you, poster. So I'm learning too.

    Congratulations, new mum! I loved my mum a thousand times more after my son came, spent two days in labour before his birth. To God be the glory. More TT Babies!

  6. Please perish the thoughts about buying a car next year except if you hit a jackpot or you need the car to move the business. The growth period for any business require more investment, capital expenditure on movable assets that do not support profitable growth should be avoided.

    You already have many ideas from Thelma's post, wish you luck as you take that bold step to freedom.

    1. LOL. Wale I had the same thought about the car but I didn't want to be a dream-killer so I kept mute on that.

    2. ''Because I planned to buy a car'' _ Meaning that this Savings was for my Car but instead im going to do business with it and will shelf the idea of buying a car for now. THANK YOU!

  7. Congrats to New Mum and dad as well!

  8. Hello All and Thanks for your contribution.
    I have tried my hands on makeup, I have a kit and been doing it since 2009 but i lost interest most especially as the market is now very crowded so my box is just sitting at home except for referrals from people i worked with which is not very often.
    I am not interested in buying and selling clothes handbags or the likes.
    I love to talk teach and encourage people, I am also very interested in the food industry as well as selling drinks juice and water on a large scale like in a mini depot but my job demands my presence for now and my free time i spend running a masters programme so i cannot be on ground 24/7 but weekends and evenings are fine.
    I do not want to loan people the money and expect interest... Neither a borrower or lender be, lol William Shakespeare.
    I am very passionate about good customer relationship, I find it easy to talk to people and vice versa, I like to read and write as well.
    Sorry for the Epistle,I appreciate the love...POSTER

    1. While there may be many make up artists, have you considered what may make you competitive? Have you used the right marketing tools? Instagram facebook etc? My own make up artist had a special around the time of my wedding and she was n20k cheaper than the other ones in the n70k range. The market is big enough for everybody, no idea within itself is original, its how you deliver it to the world that makes it yours.

      I am opening a creche/nursery, there are a load of them everywhere. So is that enough reason not to do it?

  9. Dear Poster, I've been asking myself the same question for the past 3 months although your capital is way more than mine.

    There are lots of great ideas in Thelma's answer. If you love organising, Housekeeping is a good business to invest and this market almost undiscoveresd. If you have an eye for coordinating and colour, interior decor is also a good business to invest in.

    My two cents

    1. May God increase your Capital, You will get there o. I sacrificed outings and buying clothes and shoes. Please Explain this housekeeping one, Interior decor i have an idea.

    2. Its organising people's homes. A lot of people don't have the time to dust, sweep, or organise their homes. You can get few people(4 or 5) who will work for minimum wage. You guys go to the houses, dust from top to bottom, sweep, fold clothes, etc. Basically do all the small jobs that people don't have time or are too lazy to do. The good thing with this is, you can do it only on weekends when people have gone for parties. The income might be small at the beginning and you'll have to do a lot of PR but it will grow as your clientèle increases.

      All the very best.

    3. Liquid soap, bleach etc. You however want to supply to offices and businesses. The margins on bleach are better than soap though. But every establishment uses soap. Can you cook? Some office areas are lacking sanitary food. Willing to cater office parties? Possibilities are endless.

    4. That food business tho.. The word sanitary is very key. The girl that brings food to our cafeteria is so dirty! Smh...

    5. Sunshine! You are just awesome, i have been nursing this housekeeping idea for over a year but just have no clue as to how to go about it, when i was out of job last year, i did a lot of cleaning up, shopping and babysitting for my banker sis and she would tip me, i thought of taking it further but i just didn't know how to go about handling it, then i got a job and i kept procrastinating. i even gave it a name in my head Errandgirlz, when i saw the launch of Errandboyz in abuja early this year i screamed 'that's my idea'
      I am going have to put in more effort into it somehow, i hope i do.

  10. Just what I need too,great contributions is my passion so i do buying & selling & i can comfortably say it's highly profitable just that if u ain't strict about it asin the credit options,"onigbeses" will send u back to ur village in no own advantage was travelling for leisure & then extra shopping for sale so cost of accommodation, flights & all doesn't knock u off.

  11. Honestly I am worse off than this poster. I have close to N2m in my account that hv away wanted to start biz with it but don't know what to do. I borrowed a close friend $10,000 recently to stock her shop for Xmas sales at no interest o. Are there some people that are not just cut out for biz ness. I have attended a lot of seminar on entrepreneurship but don't just get it. Don't mind partnering with anyone with a foolproof idea.

    1. Business isn't for everybody so there's nothing wrong with you. But biko please find a good place to invest that your money. Even if it's 50k interest, you will have made an extra 50k.
      Plus, anyone that can borrow $10,000 dollars can surely pay at least $500 dollar interest. What if she borrowed the money from the bank? Would they give her for free?

    2. You need to sit with an unbiased broker to help you invest in bonds and t-bills. Not the best options returns wise, but better than you giving out your money for free. Its risky lending anybody money, if i could get back half of the money i have lent out in my short life, my dream would be up and running.

      Me as i am i need n5m to finish setting up my creche and nursery. I am accepting equity and debt financing. I have already invested a similar amount. I have enough to furnish 4 rooms for up to 40 students. Frustrating the way the money has been elusive, my start date was to be september, it moved to january and now its february. Truth is i have been at it for over 1 year and i haven't seen a dime in income talkless of profit. Imagine if i wasn't passionate about it, 18 months later i would have given up already, CAC has been registering me since April, their computers crashed. Go figure.


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