Frequent question: Can I start a business with 500k?

And you can also decide to specialize in a particular product.

What type of business can I start with 500k?

In this piece, you will find 10 Businesses You Can Start with 500k in Nigeria.

  • Mini Importation Business. …
  • Sales of Clothes and Shoes. …
  • Barbing Saloon Business. …
  • Football Viewing Center/Game Center. …
  • Hair Dressing. …
  • Real Estate Business. …
  • Block Moulding Business. …
  • Computer Service Center.

What can I do with 500k?

15 Ways to Invest 500K Safely

  • Pay off your debt. The easiest way to invest your money is by paying off debt. …
  • Real estate. …
  • Index funds. …
  • Start a business. …
  • High-yield savings account. …
  • Invest using a robo advisor. …
  • Invest in yourself. …
  • Annuities.

Can you start a business with 400k?

There are multiple business opportunities in the under $400,000 category for the savvy entrepreneur willing to do the necessary research. … From affordable franchises to small investment opportunities, there are a range of choices for you to consider when you are ready to make the leap to being a small business owner.

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What business can I start with 300k?

Table of Contents Hide

  • #1. Tailoring.
  • #2. Barbershop.
  • #3. Hair Salon.
  • #4. Sale of Hair Extension.
  • #5. Sale of Clothes.
  • #6. Dry Cleaning Service.
  • #7. Football Viewing Centre.
  • #8. Cyber Cafe.

What can I start with 200k?

Business you can start with 200k

  • Paint production: with 200k you can start a paint production business. …
  • Logistics: you can also start a logistics business with 200k, depending on the resources available. ( …
  • Food business: with 200k you can start a food business and make cools profits. (

What business can I do with 700k?

You can buy wearables, gadgets and the likes from Lagos and sell in other towns. You can start small firm in your niche, at least 700k can cover for your rent, marketing and paying your secretary for the first few months when you will make negative profit given that you know what you are doing.

Is 500k a lot of money?

“For the average working American, $500,000 would be plenty of money,” said certified financial planner Dave Totah, a senior wealth advisor at Exencial Wealth Advisors in Frisco, Texas. … Just 19% of Americans have enough to cover three to five months and 25% have enough to cover six months or more, Bankrate also found.

Can I retire at 60 with 500k?

Can I retire on $500k plus Social Security? Yes, you can! The average monthly Social Security Income check-in 2021 is $1,543 per person.

Can you live off of 500k?

It may be possible to retire at 45 years of age, but it will depend on a variety of factors. If you have $500,000 in savings, according to the 4% rule, you will have access to roughly $20,000 for 30 years. Retiring abroad in a country in South America may be more affordable in the long term than retiring in Europe.

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What is the most profitable business in 2021?

10 Most Profitable Businesses in 2021

  • Tutoring Business. …
  • Fitness Business. …
  • Delivery Business. …
  • Digital Marketing Business. …
  • App Development Business.

What business can you start with 250000?

Business opportunities available for $250,000 and less:

  • Time To Eat Delivery. For $55,000 you can have your own corporate grocery and restaurant delivery business. …
  • Commercial Capital Training Group. …
  • Healthy YOU Vending. …
  • Sure Step. …
  • Solar Grids. …
  • Turf Distributors. …
  • The Lending Network. …
  • Sam The Concrete Man.

What is the best business for 2021?

25 Best Business Ideas of 2021

  • App Development. …
  • Stock Photographer. …
  • Virtual Dance Studio. …
  • Instagram Consulting. …
  • Video Production. …
  • Software Education. …
  • College Preparation. …
  • Niche Staffing Agency. Nearly every industry has open jobs, and the employers are keen to hire the best people for their companies.

What business can give me daily income?

Most Profitable Small Business Ideas

  • Tax Preparation and Bookkeeping. Without needing fancy premises or expensive equipment, tax preparation and bookkeeping services come with low overheads. …
  • Catering Business. …
  • Website Design. …
  • Business Consulting. …
  • Courier Services. …
  • Mobile Hairdresser Services. …
  • Cleaning Services. …
  • Online Tutoring.

What business can I start with 5K?

If you need a little more help brainstorming, here are six businesses you can start for under $5,000.

  • Tutoring or online courses. …
  • Make a product and sell it online. …
  • Open a consulting business. …
  • Create an app or game. …
  • Become a real estate mogul. …
  • Virtual assistant.
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What type of business can I do with 5K?

List Of Lucrative Businesses to Start in Nigeria with 5K or 10K

  • London Used Cloths (OKREKA) Okreka are used clothes that are being imported from other countries. …
  • Pure water/bottle water business. …
  • Buying And Reselling. …
  • Noodles preparation business. …
  • Mini meet pie production. …
  • Liquid soap production. …
  • Daycare center business.