The first thing you need to understand if you want to launch and expand a successful business is that not every business concept is worthwhile investing in.
When a lack of funding is not the first obstacle you must overcome to own a business, we have discovered frequently that a lack of a solid business idea is.
With the right business idea and managerial abilities, a 400k budget can provide long-lasting benefits and catapult you into the entrepreneurial class.
In light of this, we’ve put together a list of the top businesses you can launch with 400k. Also included are free startup advice and business plans.
Best Business to Start with 400k
Computer Service Center
For this firm to be successful, a proper location is necessary.
It would be best if you located this company close to a college of education, polytechnic, or university.
Although many offices would be able to purchase some of your services, you could also move it close to commercial areas.
The computer service center was one of the fastest-growing companies back then and produced a lot of money.
Even if the expansion of this industry has been constrained by modern technological innovation, it continues to be one of the greatest for daily income generation.
You should include services like typing, computer repairs, internet services, and the selling of computer accessories when you run a computer service center.
Sale of Hair Extension
The sale of hair extensions is a tremendously lucrative business.
Contrary to popular belief, starting doesn’t require a lot of money.
You can purchase these hair extensions with the majority of your 400k money.
However, it would help if you networked with other merchants to share importing and clearing costs.
The remaining funds might be used for marketing and order delivery.
Only social media sites like Facebook and Instagram can be used for marketing.
However, you may need to invest some cash in sponsored posts if you want to reach a large audience.
Barbershop
With a 400k budget, you can also start a barbershop.
To set up the company, you must rent a shop location.
To avoid making a poor choice while choosing a place, you must consider the local demographics, infrastructure, and community aspects (security).
The remaining funds can be used to purchase tools for the business, such as clippers, televisions, and sound systems, as well as to decorate the space and hire a few extra hands.
Hair Salon
The environment in a hair salon can be loud and widespread. Similar to barbershops, there are a few things to consider while choosing a location or shop space for your salon.
A blow dryer, all-purpose and blending shears, combs and brushes, razors, sectioning clips, hair extensions, and attachments are among the numerous tools and equipment needed at a hair salon.
You will also need to hire some helpers, but an apprenticeship program would allow you to do so for far less money.
Dry Cleaning Service
Laundry services are another venture you may launch with 400k.
Spending money on a shop is necessary; ideally, it should have adequate room for your equipment.
Additionally, you require room for your customers’ clothing.
An excellent pressing iron, some washing basins, soaps, and a real washing machine should be on your shopping list if you have enough money left over.
Less clothing will require hand washing, thanks to a washing machine.
Depending on the electricity condition in the area where your business is located, you might wish to buy a generator.
Block Moulding Business
Nigeria is developing quickly, and as a result, there are more high-rise structures.
Building blocks would be necessary for contractors and builders, while most homeowners would want to choose the speedier option by buying the blocks.
Because of this, the block molding industry is quite lucrative.
You will require a venue that you can rent out to begin the business. The land is also for sale.
Blocks can be made without a sophisticated machine.
The manual approach might provide you with up to 100 blocks each day. You can purchase a site, the sand, cement, and laborers needed for the enterprises, all for 400k.
Football Viewing Centre
You will require a reliable cable and television subscription to start this business.
A board announcing the variety of football games your watching center will be airing is also needed.
If the power supply is troublesome, a power generator is practically required to run such a firm successfully.
Additionally, you might want to budget for a deep freezer and a few crates of alcoholic beverages.
These views on such companies are undoubtedly hot.
Conclusion
This article, we hope, has at least provided you with some good ideas if you have been wondering how to launch a good business that has a chance of succeeding without all the bells and whistles a big budget allows you.