Which business can I start with 2 million naira in Nigeria?
Some people have a start-up capital of 2 million naira but simply have no idea on the type of business to start.
You may be in that category too.
So, if you have 2 million naira start-up capital at hand and you are wondering about the business to start with that amount of money, you are in the right place.
Based on experience, observation and research into many businesses in Nigeria, this article will give you lots of business ideas that you can start with 2 million naira.
So, let’s get started right away.
In This Article
See Also: 50 Businesses to Start With 500k In Nigeria PLUS 1 Insanely Profitable Business
Which Legit Business Can I Start With 2 Million Naira In Nigeria?Â
1. Start an Online Store / eCommerce Website
An online store or eCommerce website is one of the businesses to start with 2 million naira in Nigeria.
A major reason why starting an online business is strongly recommended for you is that you can do it from anywhere in the world. That is why it is the perfect business that you can do if you have a paid employment or have a business that you already do offline.
If you are not tech-savvy, you can hire an expert to create a great e-commerce website for you at around 500k. That amount will cover the cost of your domain name registration, web hosting and content creation for you.
Additionally, you can use 1.3 million naira to buy physical products for your online store which you can deliver when customers place their orders with you. You can use the balance 200k for the purpose of advertising your business to ready buyers on the internet.
Your tech support can also help you integrate Paystack and Flutterwave in your online store for the purpose of collecting payments on your behalf. Or you can even use Instagram and WhatsApp if you just want to sell strictly using social media.
This business is ideal for people who already have an offline business who desire to migrate the business online for wider reach and visibility. Take note that you can sell anything you already sell in your offline store online, from new and used fashion items to books, or anything you think people are looking for to buy on the internet.
Remember that you can also use well-established e-commerce websites like Jumia and Konga to create your online store instead of creating your own standalone e-commerce website or have a version of your online store on those websites alongside your own eCommerce website.
The advantage of using their platforms is that you can plug into their popular online marketplaces that already have plenty of wallet-in-hand, ready-to-buy customers every single day.
Also See: Business To Start With 700k In Nigeria
2. Beauty Salon (Make-Up / Hair Care / General Beauty) Business
The beauty care business is next to food and health care in terms of profitability.
In other words, the salon business is one of the best businesses that you can start with 2 million naira in Nigeria, most especially if you are a woman looking for a business to do. This is because women spend a lot of money on their face and hair to look good all the time.
And that is why the beauty salon business is a very profitable business to start in Nigeria with 2 million naira.
One good thing about this business is that you are already used to the services involved as a woman, which include the making of hair, fixing of nails, applying makeup. So, you can learn it and be very good at everything concerning the business within a very short time.
This business is ideal for ladies or women in general looking for a profitable business to start either to make ends meet or support your husband in taking care of the bills at home. Additionally, you can combine it with the POS business too.
Aside from your startup capital of 2 million naira, all you need to have a very thriving and successful salon business is a good location, highly skilled assistants and top notch customer service.
3. Barbing Salon Business
Barbing salon is another business that you can start with 2 million naira in Nigeria.
While the beauty salon is for women, the barbing salon is mainly for men and some women who desire to get a haircut.
This business is ideal for men who need a steady stream of income on a daily basis. You can combine it with the POS business too.
And if you have a woman who can handle the beauty salon section, you can also include it too to expand your stream of income and save cost on rent and other expenses.
All you need to succeed with this business is to be very good at giving haircuts and you will have repeat customers and they too will help you advertise your business through word of mouth.
See: Business To Start With 10 million Naira In Nigeria
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 2
4. Open a Boutique
2 million naira is more than enough to start a quality boutique business in Nigeria.
By the way, a boutique has to do with the sale of fashion items such as clothes, shoes and other materials.Â
You may also consider adding the sales of used clothes and shoes to your boutique business.
This is because the sales of used clothes and shoes is a very profitable business that you can start in Nigeria. With 2 million naira, you can open a standard boutique and combine it with the sales of used clothes and shoes.Â
However, you need a good location close to the market, school areas or on a busy street for you to succeed with this business.
This business is ideal for those who have a good sense of fashion. If you fall into this category, this is one of the businesses to start with 2 million naira in Nigeria.
5. Car Wash Business
The car wash business is another wildly profitable business that you can start with 2 million naira in Nigeria. This is because people buy cars every day. And many of them, especially those who engage in the transportation business, do not have the time to wash their cars.
Therefore, this is a business that can never become saturated with suppliers of the service. With 2 million naira, you can get a good location, sunk a borehole, get a water hose and other equipment for car cleaning.
You can start with manual car washing at the beginning. But, as your business grows, you can go on to upgrade your business to more advanced ways of washing cars to attract high class customers.
This business is ideal for young school leavers who cannot find employment and who wish to become their own boss and grow with time. The good thing about this business is that it is not dependent on electricity supply to operate.
Read Also: Profitable Businesses to Start with 200K in Nigeria
6. Mini Importation / Sales of Wrist Watches and Phone Accessories
The mini importation business is another very profitable online business you can start with 2 million naira in Nigeria, and make millions every single month.
You may find it difficult to believe, but a mini importer imported a funny looking tooth cleaning paste and made millions from it. As a matter of fact, he made over 7.2million naira from the sale of just that tooth cleaning paste within a period of 8 weeks.
Another mini importer, a student of mine, imported wrist watches with as low as 2,000 naira per piece and sold them for 15,000 naira to 20,000 naira per piece.
He ended making millions from the importation and sales of wrist watches alone – without a store, spending any money on advertising or incurring any expenses on powering a generator.
And he did not even go into the importation of used phones and their accessories like batteries, chargers, cases, earpiece, headphones, power banks, selfie sticks and so on.
If he had gone into the importation of those additional items, he would have tripled the money he made from his mini importation business.
Some of the places where you can order products online from China include Aliexpress, Alibaba, 1688, and others. Thereafter, you will get your items shipped to your delivery address in Nigeria where you can then sell them at windfall profit.
This business is ideal for everyone who is looking for a steady source of income on a weekly and even daily basis.
The beauty about this business is that it does not interfere with your normal business or paid employment. You can do it full time or part time.
But if you have a paid employment, you may not be able to import phones and their accessories, unless you are able to get someone to operate your shop for you in your absence.
However, in order for you to succeed quickly and super fast with the mini importation business, you need to do ONE THING…
And that thing is this:
You need proper guidance in order for you to succeed faster as a mini importer in Nigeria. It was the guidance that my student had from me that made him succeed when he started his mini importation business.
But, without proper guidance…
- you will make mistakes and the learning curve will be great.
- you could end up getting scammed by fraudulent suppliers on the internet.
That is why the need to have someone with the requisite experience and knowledge to guide you through the whole process is very important.
If you have 2 million naira and would love to learn about how to succeed super fast with the mini importation / ecommerce business in Nigeria…
Click HERE to WATCH THIS VIDEO right away before it expires
Read Also: Best Business To Start With 1 Million Naira In Nigeria
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 3
7. Sales of Laptops / Computer Accessories
This is another business that you can start with 2 million naira in Nigeria.
With 2 million naira you can rent a shop and stock your laptops and computer accessories like printers, scanners, mouse, keyboards, chargers, laptop batteries and others, as well as computer software disks.
You can combine the business with the sales of mobile phone accessories too.
2 million naira will go far if you specialize in the sales of fairly used / tokunbor / Belgium laptops and computers. Otherwise, you will require far more than that amount to do the business comfortably if you only specialize in the sales of new products.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 2
8. Cooking Gas Business
The cooking gas business is another business idea that you can start with 2 million naira in Nigeria. And that is because cooking gas is something people use every day. As a matter of fact, at least 70% of Nigerians use cooking gas to cook their meals every single day.
So, dealing in the sales of cooking gas is a very profitable business that you can start in Nigeria to make plenty of money.
And the beauty of it is that you will begin to make money from the very first day of starting the business without even having to spend money to erect a signpost or print a banner to advertise your products. Passersby seeing your cylinders will always stop by to check out your store.
With 2 million naira, you can purchase your equipment which include a gas tank, a scale, hose pipe, and a dispenser, as well as purchase your gas products and rent the store to stock your products.
Thereafter, you can open shop and begin making money immediately.Â
9. Block Industry
The block industry business is another business that you can do with 2 million naira in Nigeria.
With 2 million naira in hand, you will be able to rent a space to display your blocks, buy a mixer and cement, and employ one or two laborers to mold your blocks for sales to the public.
That money will also be able to take care of delivery of the sold blocks to your customers too.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 4
10. Printing Business
This is another business that you can start with 2 million naira in Nigeria.
The printing business is a very profitable business to go into in Nigeria. Some of the jobs you will get include the printing of banners, flyers, T-shirts, book covers, and so on.
Take note that most of the money you will make in this business will come from big projects like customizing sportswear for schools, companies and other organizations like NGOs. And it is also becoming highly competitive too.
So, offering a bargain price is crucial to getting patronage from the existing schools and others in your area.
Aside from the cost of renting the place you will use for your printing business, you will need to acquire a generator or solar equipment for the business too.
Additionally, you will also need to buy your printing equipment and their accessories before you can start making money from this business.
11. Rental Business / Event Management
The rental / event management business is another one of the top businesses that you can use two million naira to start.Â
Frankly speaking, the rental business is a very profitable business in Nigeria because no week goes by without any ceremony – be it burial, marriage, naming, graduation, housewarming, and so on – being held in any part of the country.Â
The beauty of this business is that you will only need to deliver the demanded items to the venue of the ceremony and go back to pick them up when your customers are through with their ceremonies.
So, your physical presence is not needed at ceremonies or your store for the business to thrive. You only need to employ one sales person to take customer’s orders.Â
Some of the materials you will need for this business include canopies, chairs, tables, pots, coolers and so on for customers’ events.
With two million naira, you can be able to start and run this business successfully.
12. Transport Business
With two million naira, you can start the transport business successfully in Nigeria.
All you need is a tokunbor or Belgium car which you can get for between 1.2 million naira and 1.6 million naira.
After that, you will only need to pay for cost of registration, plate numbers and others. Thereafter, you can start your transportation business right away.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 5
13. Become an Uber Driver
Becoming an Uber driver is similar to the transport business above and it is very profitable too.Â
With 2 million naira, you can purchase a very presentable tokunbor or Belgium car and successfully start making money as an Uber driver in Nigeria.
14. Sales of Motorcycle Spare Parts
This is another business that is capital intensive. But, with two million naira or even less, you can successfully start one and operate it very well.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 3
15. Sales of Plastic Products
Another highly profitable business that you can start with 2 million naira is the sales of plastics products like bowls, plates, coolers, waste bins, baskets, balls, etc.
Though it is a highly capital intensive business, with 2 million naira, you can successfully start the business and operate it very well.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 6
16. Cyber Cafe / Computer Center Business
This is another business that you can use two million naira to start and operate successfully in Nigeria.
You will need at least 10 fairly used laptop computers each costing at least 120k to start this business. That is a total of 1.2m.
You will also need other computer accessories like a printer, cables, networking materials, installation, papers and other items to successfully start your business. With an additional 400k, you are good to go.
The amount to rent an office space may take 360,000 naira per annum.Â
So, with at least 1.5 million naira to 2 million naira cash at hand, you can successfully start and operate a cyber cafe / computer center business in Nigeria.
Also See: Which Business Can I Start With 3 Million Naira In Nigeria
17. Open a Jewelry Store
Another super lucrative business to start with 2 million naira in Nigeria is the jewelry business.
All you need to succeed with the jewelry store business is a firsthand knowledge of fake and original jewelries.
Once you have that together with information on where to get quality and bargain prices of jewelries, you are good to go.
The beauty about this business is that you do not need to have a generator for you to operate it successfully.
Additionally, you do not need a large space to keep your goods.
18. Open a Cement Store
Another business you can start with 2 million naira or even less is the cement business.
Though the cost of cement has gone up remarkably, people still build houses and engage in different types of construction which require cement as one of its materials every single day.
Some of the cement products that you can include are Dangote and Elephant cement.
Frankly, the cement business is a very profitable business as you can make as much as 300k to 500k every month.
All you need to do is register as a distributor, pay and get a truck of cement, and then supply it to end users at profitable prices.
Read Also: Profitable Businesses to Start with 300K in Nigeria
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 7
19. Start a Soft Drinks Business
The soft drinks business is another highly profitable business that you can start with 2 million naira in Nigeria.
The beauty of this business is that it is something that is always in demand with people everyday. In other words, people buy various soft drinks products along with snacks for their lunch every day.Â
So, there will never come a time when the business will become saturated or no longer popular.
All you need to become successful very quickly in this business is a large store of about 18ft by 14ft, some furniture, a standing or ceiling fan, a cooling van or refrigerator to cool your drinks.
Once all that is in place, you can then register to become a distributor to soft drink companies such as Coca Cola and others. Thereafter, you can start your business and begin supplying soft drinks to retailers at reasonable prices.
20. Livestock Farming
Livestock farming is another very profitable business that you can begin with 2 million naira or even less in Nigeria and start making a 6 to 7 figure income every single month.
By the way, livestock farming has to do with the rearing and production of animals and their products.
Some of the areas that you can specialize in your livestock farming include: poultry farming, fish farming, snail farming, pig farming, goat farming, cattle farming, etc.
Once you have reared your livestock to maturity and they begin producing, you can begin selling their products like eggs, milk and meat to retailers and end-users to make money.
The only thing you need for instant success with this business is getting a large space where you can keep your livestock, as well as a nearby location for getting your animal feed closest to your area.
21. Open a Supermarket
Operating a supermarket where you can display and sell provisions and daily consumables is another one of the top paying businesses that you can start with 2 million naira in Nigeria.
You can operate a one-stop shop where you display a variety of products which people use everyday from daily consumables to personal care and beauty products like detergent, toothpaste, milk, baby foods, pampers, roll-on, sanitary napkins and so on.
All you need to start this business aside from your 2 million naira is a big store with good outlay and design.
Once you have that in a good location, simply go ahead and stock the store with household products and watch the millions roll in within a very short time of starting your business.
Summary & Conclusion
In summary, there are so many businesses that you can start with 2 million naira in Nigeria as discussed above.
So, which of the businesses enumerated and discussed in this article have you decided to do?
Is it a supermarket, a cooking gas business, a soft drinks business, livestock farming, boutique, jewelry store, beauty salon or barbing salon?
Or, have you decided to open a mini importation business or begin the sales of laptops / computer accessories, or engage in the sales of wrist watches and phone accessories?
Or, is it a rental business / event management, a cement store, block production business or car wash?
Or, have you decided to open a motorcycle spare parts business, transport Business, become an uber driver, or engage in the sales of plastic products?
Or, is it a cyber cafe / computer center business or printing business?
Take note that whichever business you decide to start with your 2 million naira in Nigeria, make sure that your business is accessible on the internet.
In other words, you should plug your offline business to an online store from the very first day of launching your business.
That is the only way to guarantee the instant success of your offline business very quickly.
