Best Business to Start With 500K In Nigeria

Last Updated on by Daniel Lawrence

Looking for the best business to start with 500K in Nigeria?

If so, you’re at the right place!

Maybe you have N500,000 at hand, and you’re looking to invest it before you spend it all…

Or perhaps, you’re looking for the most secured and profitable way of investing your money without the risk of losing it all…

Don’t worry!

In this guide, I’m going to show you From My Personal Experience, what the best business to start with N500,000 is in Nigeria.

If you’ve done any search on what the best business to start with 500K in Nigeria, you must have come across the following business suggestions:

=> Printing and Publishing Business

=> POS Business

=> Building Block Business

=> Photography Business

=> Building Materials Business

=> Domestic Gas Business

=> Computer Business Center

=> Ecommerce Dropshipping Business

=> Egg Farming Business

=> Dry cleaning Business

=> Snail and Food Processing Business

=> Bookshop Business

=> Sports Betting Business

=> Exportation Business

=> Sports Viewing Business

=> Used items Importation Business

=> Car Cleaning Business

=> Small Scale Eatery Business

=> Taxi Business

=> Real Estate Business

And so, after seeing the above suggestions, you may be asking…

Which of them is the best business to start with my 500K in Nigeria?

That’s exactly what I’m going to answer in this post!

I’m also going to show you the 6 most critical thing any business you decide to start with your hard earned money MUST HAVE in order to avoid losing your money.

You see, several years ago, I was in the same position as you are now: I had some money which I wanted to invest because I don’t want to spend it all without anything to show for it.

Unfortunately, I dabbled into one of the businesses above that made me lost all of my money. It was really a painful experience.

Looking back today, I realized the business I went into did not meet the 6 most important criteria that every business must have, which I will share with you below in this post.

Only if I had known of these 6 criteria, I wouldn’t have ventured into the business I ventured into, and I wouldn’t have suffered the pains and regrets of losing my hard earned money.

Fortunately, I got wiser…

And the next business I ventured into was safe. It has all the 6 important criteria listed below and really made huge profits and significant return on investments for me.

Today, this safe business is also generating significant profits for many. And it will for you too.

Please note, when I talk of safe business, I mean business that would readily generate between N200,000 to N400,000 in profits for you every month.

When I talk of safe business, I’m talking of a business that won’t force you to tie huge amount of capital down in inventory.

This is the type of business I want to talk about extensively in this post…and I will share everything you need to know about this business right inside this post.

Sounds great, right?

Sure!

If so, let’s get started.

The 6 Criteria For Starting A Business With 500K Business In Nigeria

1. It Must Not Only Make Money, But Must Also Be Profitable!

Any business you’re looking to start in Nigeria with at least, N500,000 should better be profitable, otherwise, it’s going to be a money losing endeavor.

Before you plunge your hard earned money into any business venture, the rate of return is the number one thing you must factor in.

How much can the business make per month?

Of this figure, how much is your profit?

You see, it doesn’t matter how much money or revenue a business makes. If it’s not making profit, you’ve only succeeded in getting yourself a day job.

From experience, any business you’re planning to start with 500K should be making at least, 20% profit and above.

Out of the revenue a business makes, if the profit is less than 20% of revenue, that should be a red, warning flag for you to look for something else to do with your money.

2. Profits Must Not Be Seasonal

Getting high profit from a business is one thing. Another thing is… Is the profit consistent?

There are a few number of businesses out there that will give you a healthy 20% and above profit.

The only problem is…

The profit is not consistent. It is based on seasons.

A good example of this is a chicken farming business.

While I agree that buying day old chicks and rear them till they are ready for sale can give some level of profits…

However, one discouraging factor about this business is that the profits is based on seasons.

Most chicken businesses make good profits during seasonal periods like Easter and Christmas, however, once these seasons are over, the profit dies off.

This is one of the major factor that discourage many people from starting a poultry business.

The same limitations apply to agriculture based businesses. Their profits are mainly seasonal when the fruit or livestock must have been harvested and sold.

I truly appreciate those who run these kind of businesses. They are doing a wonderful job of providing the society with much needed food items.

But if I have N500,000 to invest, I definitely would not put it in any business whose profit is based on seasons.

3. Must Not Require Huge Investments In Office, Equipment And Raw Materials

Another thing to watch out for while determining the kind of business to start is this: “does it require huge investments in land, office, equipment or raw materials?

If it does, then you definitely need to look for another business to start.

And the reason for this is that the more a business requires in equipment, raw materials and other related expenses, the longer it takes for it to become profitable.

In most cases, such requirements would demand huge investments of funds.

And if you have N500K to start a business, buying most of the equipment and raw materials you need would severely eat deep into your working capital, thereby leaving you with little or nothing to run the business with.

4. Must Not Require Extra Advanced Skill set to Run

If you have N500K to start up a business, one of the things you must watch out for is… Do you need advanced skill set to make this business become profitable?

If yes, then you need to look for another business to start.

But if the business does not require advanced skill set to become profitable, and it meets the other criteria listed on this page, then you can progress with the business idea.

Why starting a business that requires advanced skillset is not advisable is because it will force you to hire those with the required skill set.

Not only will this eat deep into your capital, but you will also be forced with the issue of dealing and supervising the daily output of your employees.

In some business, it would take between 6 to 18 months to actually become profitable.

What this means is that you’ll have to start stressing repeatedly for how to pay employees salaries for those period of time when the business is not generating any profit yet…which according to business experts, is not a good position to be in.

It is better to start a business in an area in which you already know how to do what the business needs.

5. It Must Be Scalable

Can you grow the business from zero profit to a point where it now makes N100,000 per month in profit?

Can you grow it from a profit of 100K to 500K per month?

Can you further grow it from 500K profit per month to a profit of 1 Million+ per month?

And can you do this without hiring a load ton of people?

These are part of the consideration you should make before venturing into any business.

Let’s take a dry cleaning business for example…

This is a very easy business to start. All it majorly requires is a box of soap, a basin of water and the ability to wash clothes clean.

But the issue with this business is that it is not scalable.

There are just 24 hours in a day, and if you start a dry cleaning business, your income will be limited by how many clothes you’ll be able to wash and Iron in 24 hours.

There’s nothing you can do to increase the amount of time in a day. It is what it is and cannot be changed.

Yes, you can try to scale by employing more people to wash more clothes, but once again, you’re also limited by the number of people (potential customers) in your area.

The number of people in your area, and the limited hours you have in a day therefore makes a dry cleaning business very hard to scale.

While you may be making profit at some point, however, the truth is that since the growth of such business is tied to its environment, the business will probably hit an income ceiling in which it cannot grow beyond.

Therefore if you’re looking to start a business that will be able to take care of you and your loved ones in the nearest future as the cost of things rise in Nigeria, the ability to scale is of paramount importance and should never be overlooked.

6. Do You Have Access to The Latest Trade Secrets of The Business?

Access to trade secrets is one of the fundamental things to consider before starting a business.

While you may already have access to start-up capital, however, not having access to essential trade secrets will set the stage for you to keep making avoidable mistakes upon mistakes in such a way that makes you lose all or part of your capital.

No matter what business it is, there are trade secrets developed by others who have blazed the path before you.

These people have spent their time and money over the years to acquire the relevant experience that’s needed to run such business profitably.

Therefore, before venturing into a business, going to others who have more experience in that field for consultations, coaching, mentorship or apprenticeship is critical in helping you reduce wastage of time and financial resources.

In a situation where there’s no one to consult, coach or mentor you, you definitely should reconsider entering into that line of business, especially when you don’t have deep pockets and can’t afford to lose your money in risks and mistakes.

So these are the 6 most important things to consider before starting any business.

And now that we’ve discussed about them, it’s time to answer the important question:

What Is The Best Business To Start With N500K In Nigeria?

After considering the Merits and Demerits of a great deal of businesses, we’ve concluded that the best business to start in Nigeria with N500K is a Digital Content Business.

Yes, a Digital Content Business is the best business to start with N500K in Nigeria.

And the reason is because…

1. It is relatively easy to start

Unlike other businesses, a digital content business does not require huge investments in equipment to start.

You don’t even need a shop or office space.

All you need is just a good and functional laptop, and an internet subscription.

If you’re like most people, there’s a great chance that you already subscribe for internet monthly.

If so, it means you already have what it takes to start a digital content business.

And if you’re reading this on your laptop, or phone, then there’s nothing that should stop you from starting your own digital content business, as you already have all that is needed.

2. It is Highly Profitable. Profits Is Usually above 70%

In all my years as a business coach, I’m still trying hard to find a N500K business that is as profitable as a Digital Content Business.

But I’ve found None!

Seriously, there’s no type of business you can start with N500K that will give you the same amount of profit as a Digital Content Business would.

Most Digital Content Business, when run very well will readily generate between N200K to N800K in profit for you every month.

For example, my Digital Content Business generates on average, N1 Million Naira in profit monthly, as you can see from my screenshot of just last December below:

Not only does it make money, but I’m able to receive the money here in Nigeria and convert it at an exchange rate of 470 naira per dollar, which equals to over 1 Million Naira every single month with 99% of this being pure profit!

500k business earnings—1

 

And how much did I spend in setting it up?

Not Much!

And within just a few months, it has grown to where I now make N1+ million Naira in profit every month, with enough space to even grow the profits further if I wanted.

This is definitely over 300% return on investment every month.

The same thing applies to John Adewale, who started his own Digital Content Business…and today, now makes an average of N250K in profit every month, as you can see below:

500k business earnings—2

 

Or should I talk of Chinedu, a boy of 25 years who started his Digital Content Business and is now earning the sum of over N500K in profit every month.

500k business earnings—3

 

I could go on and on about those I know who are into digital content business, and are now making serious progress financially, but doing so would make this post very long!

3. Profit Is Not Seasonal

One amazing benefits of a digital content business is the fact that it makes profit all year round, whether during seasons or out of season, and whether during pandemics or not.

For example, when covid19 struck, a lot of people where forced to shut down and temporarily stop their businesses in order to fight the spread of the virus.

For those running digital content businesses, they weren’t affected by such measures.

Since the business is 100% online and can be run from anywhere in the world, provided you have an internet connection, many digital content businesses continued to run their business and make even more profit!

Even interesting was the fact that since everyone was indoors, people were now shopping and buying things they needed online.

Not only did this add to the growth of digital content businesses around the world, it also helped in multiplying their profits.

Let’s take Olalekan for example…

He started his digital content business just 4 months before the covid19 lock down.

But that didn’t affect him in anyway…

Despite the lock down, his digital content business was still generating around over N150K in profit every month as you can see below, even though it’s a fairly new business he just started.

500k business earnings—4

 

While his mates and colleagues were suffering from income shortages as a result of the covid19 lock down, Olalekan was regularly smiling to the bank.

The fact that digital content business is not negatively prone to seasonal fluctuations, this should be a serious consideration for you, as you decide which business to go into.

4. No advanced Skill Is Needed

Running a Digital Content Business is perhaps, one of the most easy business in the world.

Unlike other businesses that requires specialized skills or the need to deal with heavy coded software, Digital Content Business at its core doesn’t require all of that.

At the basic level, the major skill that’s required to run a Digital Content Business is simply your ability to write!

Yes, that’s correct…

The ability to write is simply the most fundamental skill required to run a successful digital content business.

Which means that if you’ve ever written a comment on Facebook for example, or you’ve published a post, you already have what it takes to run a highly successful Digital Content Business.

Sure, there are people who take things further by including videos and audios, which can easily be done with a smartphone…but those are not the fundamental skills a digital content business needs.

Those are just nice to have, but won’t affect your income in anyway if you don’t have them.

With just the ability to write, you can run as many digital content businesses as you can handle.

5. Profits is Very Easy to Maintain

How many hours do you have to spend on a traditional business if you want to keep maintaining your level of profit?

Well, in most instances, you’d have to spend close to 8 hours per day.

This amounts to 40 hours per week (if you’re working from Mondays to Fridays), or 160 hours per month.

Which means in a year, you’ll be spending close to 1,920 hours on a traditional business just to maintain or increase the level of profits the business is making.

But in a Digital Content Business, such is not the case…

And this is exactly why many people are in love with Digital Content Businesses!

You see, the truth is…at the beginning, you’d have to work on your digital content business and build it to the point where it starts making money.

But once it starts making money, it no longer needs your involvement because your contents are already online.

And for as long as your contents continue to be visible and accessible online, it will keep making money for you.

I’ve seen people who start a digital content business, and never touch it or do anything on it for more than a year!

Yet, the business keeps producing money for them on autopilot every single month!

Heck, take me for example…

I also run a digital content business, and ever since it started making money, I hardly work on it anymore.

The most work I do these days, is just to update a few content, once per month.

On average, this takes about 7 minutes to do, and I’m off partying or hanging out with a friend.

And my income has never suffered for one bit!

The maximum time I spend on my Digital Content Business is about 7 minutes per month just to update a few content.

That’s all…

And the income keeps flowing.

This is why many people will never trade a digital content business for anything else!

Never!

6. It Is Completely Scalable

Don’t want to make a profit of N200K anymore per month?

Sure, no problem with a Digital Content Business!

You can easily scale your profits and income to any amount you desire.

Not that it will happen instantaneously like magic, but to be honest, it will happen faster than that of any other business without spending a fortune!

In most other businesses, if you want to scale your income or profits, the best way to do that is to either spend a fortune on marketing to attract new clients or customers, or you keep the number of your clients the same and increase your price.

These two methods have their own advantages and disadvantages.

But with a digital content business, none of those apply!

If you want to increase your profits and income with a digital content business, you can simply do that by writing more content!

Yes, that’s the secrets of scaling with a digital content business…

And this have a lot of advantages over the usual method of scaling in a traditional business.

Because for as long as your content remains visible online, the chances of making and earning more money strategically increases multiple fold!

7. Access to Trade Secrets Available

After hearing about the huge income from owning a Digital Content Business, many people usually flock online to get started.

But the painful truth is that over 90% of those who got started on their own are bound to fail and give up.

You know why?

Because they don’t have access to the secrets of the trade their business needs to survive…partly because they’ve not stumbled on a post like this, or they don’t just know where to get the help they need.

But such is not the case for you…

Because if you’re looking to start a Digital Content Business, you will be able to have access to the necessary trade secrets that will undoubtedly ensure your success.

This is absolutely critical and necessary if you really want to be successful without putting your startup capital at risk.

Fortunately, it is now possible to get the help you need, while getting access to closely guarded trade secrets that many people wishes to have, but cannot.

How To Start Your Own Digital Content Business

At this point, it is already obvious that a Digital Content Business is the best business to start with N500K in Nigeria.

Not only does it meet all the necessary “must-have” criteria, it is currently the highest earning business when compared with other businesses that you can also start with 500K.

But now, the big question is…

How do you get started?

What exactly do you need to know to ensure your success?

What mistake should you religiously avoid like the plague?

And most especially, how do you have access to the trade secrets that will practically guarantee your success?

If you’re asking any of these questions, then I have good news for you…

Because, Kolade Opeyemi, a highly successful and well respected friend of mine is willing to give you access to the trade secrets that has helped him make multiple millions of Naira with Digital Content Business.

When Opeyemi started his Digital Content Business 10 years ago, there was practically no one teaching about it in Nigeria.

At the time, everyone that knew a thing or two about Digital Content Businesses were in abroad.

And since these people in abroad were busy running their own Digital Content Businesses, they usually request hefty fees in US dollars for them to take time off their businesses and start coaching someone else.

These fees were so exorbitant that my friend, Opeyemi couldn’t even afford it.

So he decided to go it alone on his own. But guess what happened?

He failed. Woefully.

Six months later, he licked up his wounds and started another Digital Content Business, but guess what happened?

That one also failed.

Few months later, he tried again and failed.

And then the truth finally dawned on him….

Going into a highly profitable business like Digital Content Business without any experience, knowledge or trade secrets is a recipe for failure.

So he decided to pause, just so he could save some money to acquire the knowledge and trade secrets he desperately needed.

After 2 years of savings, he finally had enough money to get someone in abroad to coach and show him the way.

Within few months of coaching, he started his fourth Digital Content Business, and this time, it was a massive success.

Today, not only does Opeyemi make millions every month from Digital Content Business, he has also helped other people around Nigeria to become successful with Digital Content Business.

Even the ideas and strategies I use regularly in running this site, Fulfilled Interest and the income it generates is all traced to Mr Opeyemi.

Today, Mr Opeyemi has trained over 50 successful Digital Content Business owners in Nigeria through his high level Secrets of Digital Content Business Training Program.

People like Michael Eliagwu who owns Saovangco.com, a digital content business that generates close to N500,000 every month can trace their success to Mr Opeyemi’s training.

Also, people like Martin Acosta who owns Zedmachinery.com, a business that generates a profit of N300,000 monthly can trace their success to Mr Opeyemi’s training.

Someone like Daniel of Publicset.com can also trace their profit of N400,000 per month to Mr Opeyemi’s training.

I could go on and on, telling you about successful digital content businesses like Wdphg.com, Jejupro.com, classicalien.com, zymernation.com and so many more whose successes was as a result of going through Mr Opeyemi’s training and implementing what’s in there.

Fact is, I’m yet to see anyone who has gone through Mr Opeyemi’s training without getting mouth-dropping results.

Never!

Everyone I know who has gone through the Secrets of Digital Content Business training of Mr Opeyemi’s have always come out with bank fattening testimonies, and yours will definitely not be different.

Interesting, right?

Sure.

And I know you might also be wondering…

What The Secrets of Digital Content Business Training Is All About….And What You Stand To Benefit From It

Well, the secrets of digital content business training is an Affordable training program that is put together by an already successful and established business man in the field, and it is meant to show you the secrets you definitely need to know for you to become a digital content business owner in Nigeria today.

The training was borne out of several years of experiences, with which you can have the advantage of avoiding unnecessary mistakes, errors and wastage that will want to prevent you from succeeding in this business.

In this training, you’re going to discover…

1. Secrets 101: how to properly lay the foundation of success. Do not miss this for anything, if you want to be successful with your Digital Content Business.

2. Secrets 102: How to practically build your own income producing Digital content business without making costly mistakes along the way…

3. Secrets 201: The most important things you should know about the engine if your digital content business, and why not knowing this will spell doom for your business.

4. Secrets 202: 5 major techniques experts use that everyone else ignores to their own disadvantages, and how you shouldn’t be part of those who ignore these techniques…

5. Secrets 301: Critical factors that will ensure your business will continue to generate cash, every single day. If you miss this, you’ll definitely be sorry.

6. Secrets 302: The Amazing fast spanner approach to ensure your digital money making business doesn’t break down when you least expect it.

7. Secrets 401: 10 additional secrets for multiplying your income with a digital content business whenever you want

8. Secrets 402: How to access The hidden founders club that your business cannot grow without it.

And this is not even all you’re going to learn about!

To break it down for example, in Secrets 101, you will discover…

Insightful, isn’t it?

Sure it is…

And if you’re like most people, you’re probably wondering…

How Much Would It Cost to Access The Secrets of Digital Content Business Training Program?

Well, the answer to that is…

Not Much!

You see, Mr Opeyemi has made it relatively easy for anyone to learn the full secrets of succeeding with Digital Content Business.

If you have just 500K to start a business, you’re lucky….because Mr Opeyemi has designed this training in such a way that once you register for it, you don’t need to spend any other money to set up the business.

Unlike several trainings of other businesses where after registering for the training, you’ll still have to spend money as capital to actually start the business, such is not the case with this training.

The money you pay for this training will serve as your training fee, and in return, not only will Mr Opeyemi train you, he will also give you all the tools and resources you need to succeed WITHOUT paying any extra money.

Naturally, if you’re paying for all these tools and resources on your own, you’ll be spending close to N500K or even more, and the cost of training is not even included.

But with Mr Opeyemi, you’re getting everything you need free, including your website and professional hosting account when you register for this training program.

And the training fee is just a one-time payment of N100,000 only!

About 90% of this fee mainly covers the cost of the resources that will be provided for you when you sign up for this training.

Not only has the cost of these resources been drastically reduced and subsidized by Mr Opeyemi, the frank truth is that outside this training, these resources with the experience of Mr Opeyemi are incredibly hard to come by, and if you’re opportune to lay your hands on these resources outside of this training, you’re absolutely guaranteed to pay at least, 5X of what Mr Opeyemi is charging for it.

So with this training program, you’re saving a whopping amount of N400K in terms of essential tools and resources that are actually needed to start up your own digital content business.

All you just need to do is sign up for the training, go through the program, and subscribe to your usual internet connection package so you’ll be able to implement what you’ll learn inside the training.

And that’s not all…

In Addition to That, I’m Also Giving You 1 Million Naira Worth of Bonuses!

Yes, since you’re learning about this training program from my website, I’ve decided to also support you with bonuses worth 1 Million Naira.

Please note that these are not just arbitrary figures. The are high value resources that I have spent the sum of N1 Million naira acquiring over the past 6 months.

I’m giving these to you to support you and ensure that no external factor will prevent you from succeeding with your own digital content business.

When paired with the training and resources from Mr Opeyemi, there’s virtually nothing that will stop you from succeeding. Guaranteed!

And for your total peace of mind, you’re even set to enjoy…

A Double Deck, Money Back Guarantee!

The honest to God truth is that what you’re going to learn in this training program will practically change your life, like it changed my own life and the life of others that have gone through it.

But If in the unlikely event that you go through this training program, and implement what it teaches and didn’t not get any results for a period of 1 Year, Mr Opeyemi will refund every single amount you paid for the training program.

We are so confident in this program that we are giving you 1 full year to try it out at our own risk.

Normally, other types of training program will give you a 1 month guarantee. Which means after 1 month, you can’t get refunded.

But our case is not so…

To prove how committed we are to your success, and how much we stand by the authenticity of this training, you have 1 full year to try it out. All we ask is that you put what it teaches into practice and see for your self if your life won’t change for the better.

We guarantee that if you put the content of this training to work, within a space of 3 months to 1 Year, you will making at least, N100K to N500K every month in profit.

And if it doesn’t happen, Mr Opeyemi will refund the money you paid for this training back to you in full.

And wait, there’s more…

I’m Also Giving You My Honest-to-God, N200,000 Personal Guarantee

If you register for this training, and implement what it teaches without making the sum of N100k to N500k within 3 month to 1 year of enrolling for this training, not only will your training fee be refunded by Mr Opeyemi, I will also add an extra N200,000 to you as compensation for wasting your time!

So as you can see, you habe nothing to lose and everything to gain.

To get started with the training, click the button below. When you do, it will take you straight to a secure page on Mr Opeyemi’s site where you can securely make your payment.

Don’t worry, you’ll have the option on the page to pay with card, or bank transfer if you want.

So here’s the button:

 

 

P.S. Once you’re done registering for the training, send me your training registration receipt to editor@fulfilledinterest.com so I can start preparing your bonus as you continue with your training.