What profitable business can I do with 500k?

What business should I start with 500k?

9 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 should I invest 500k in?

How to Invest 500k [21 Best Ways for 2022]

  • Invest in Index Funds to Maximize Returns.
  • Invest in Real Estate to Make Passive Income.
  • Invest in Dividend Stocks.
  • Invest in Individual Stocks.
  • Invest in Mutual Funds to Earn Money.
  • Try ETFs to Build Wealth.
  • Store Money in a High Yield Savings Account.

What can I invest with 500 000 naira?

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  • Mini Importation Business. This is certainly a good business venture you can invest 500,000 nairas in and certainly get rewarding profit. …
  • Poultry Farming. …
  • Pig Farming. …
  • Fish Farming. …
  • Goat Rearing/Farming. …
  • Real estate business. …
  • Laundry Business. …
  • Fashion designing business.

What businesses are in demand?

If you’re ready to run your own business, consider any of these business areas.

  • Consulting. Source: Kerkez / Getty Images. …
  • Online reselling. Source: ijeab / Getty Images. …
  • Online teaching. Source: fizkes / Getty Images. …
  • Online bookkeeping. …
  • Medical courier service. …
  • App development. …
  • Transcription service. …
  • Professional organizing.
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What businesses do millionaires own?

See below for the full list of the top 10 industries in which billionaires made their fortunes:

  • #1 | Finance & Investments. 371 billionaires | 13% of list. …
  • #2 | Technology. 365 billionaires | 13% of list. …
  • #3 | Manufacturing. …
  • #4 | Fashion & Retail. …
  • #5 | Healthcare. …
  • #6 | Food & Beverage. …
  • #7 | Real Estate. …
  • #8 | Diversified.

What is the hottest business to start?

4 Hot New Business Ideas for Millennials

  • Hacking The Sharing Economy. The sharing economy is huge and continues to offer opportunities for aspiring entrepreneurs. …
  • Anything in Healthcare. Starting a business in the healthcare field can be a sure bet if positioned properly. …
  • Water is the New Gold. …
  • People Need to Sleep.

What can you do with 500k cash?

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.

How can I grow 500k into 1 million?

To go from $500,000 in assets to $1 million requires a 100% return—a level of performance very hard to achieve in less than six years. To go from $1 million to $2 million likewise requires 100% growth, but the next million after that requires only 50% growth (and then 33% and so on).

How long can you live off 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.

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What business can 500k start in Nigeria?

Business you can start with 500k

Bakery: you can set up a standard bakery business with a minimum of 500k Nairas. It is one of the fastest-growing businesses in Nigeria in addition to the fact that it a lucrative business.

What are the most profitable business in Nigeria?

Here are the most lucrative businesses in Nigeria:

  1. Oil and Gas business. The simple truth is that Nigeria and to a large extend, the world, still depends on oil and gas. …
  2. Agriculture business. …
  3. Food business. …
  4. Blogging Business. …
  5. Real Estate business. …
  6. Furniture business. …
  7. Hotel business. …
  8. Transportation 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. …
  • Primo Hoagies. …
  • Legacy Business Brokers. …
  • Solar Grids. …
  • Turf Distributors. …
  • Kumon Math and Reading Centers.