Top 5 Businesses You Can Do In Ghana With Less Than 500 Cedis.
Has the pandemic left your finances in chaos? Are you struggling to keep up with piles of bills? Do your business ideas need a huge capital to take off? Do you have a little less than 500 Cedis to spare? Well, we might have some solutions for you.
Most Businesses in Ghana have had to lay off employees during the covid-19 crisis. These people are currently at home living from hand to mouth. If you are one of those, then this is for you.
Similarly, there’s also the problem of realizing one’s entrepreneurial dreams in Ghana. There is just never enough capital to put that business into action. But what if you could start somewhere and grow along the line to go all big?
In this article, we will teach you about 5 Businesses you can do in Ghana with less than 500 Cedis. Thankfully, the following ideas are easy to implement and be consistent with.
5. Buy and Sell Second-hand shoes
Although Ghanaians patronize new shoes, they believe the fairly used or better put, second-hand shoes last longer. Maybe that’s true. And this fact works to your advantage.
Your customers however are your friends on social media. So are your church members, neighbours, former work colleagues, school mates and so on. They could equally be your advertisers if prices are moderate enough. So do well to take clear pictures that bring out the beauty of your products.
Popular second-hand wholesale shoes are sold at Kantamanto at quite good prices. You’d be surprised to know that some boutiques patronize these products and retail to their customers at higher prices.
The best time usually is Wednesdays and Saturdays at dawn. However, you can go any day of the week. Just make sure to be there by 3:30 am and you’d even find shoes that have never been worn.
Some of these high-quality shoes go for 25 Cedis so with a capital of 500 Cedis, one can take 20 pairs of shoe home to start a very lucrative business.
So surely, this is one of the businesses you can do in Ghana.
4. Start a busy-bee Menu
You’d be astonished to find out that a lot of workers are too busy to shop for foodstuffs. They are more so too tired to even cook. And no, it’s not just men, women included.
With a hefty workload, they have to depend on fast food which is quite not so healthy if taken continuously.
You’re however the solution to this predicament. Question is, can you cook? A busy-bee Menu simply entails cooking healthy homemade meals like okra stew, banku,palava sauce, light soup, and a lot more, in bulk for customers. These clients then keep the meals in their fridges and warm a portion after a hard day of work.
From our research, 3.5 litres of okra stew containing meat, salmon, crabs, and a bit of wele goes for 100 Cedis. While the 2 litres goes for 60 Cedis.
As a matter of fact, go for prices that work for you but, let it be moderate.
Finally, be ready to pitch. Walk boldly into offices and pitch your business to workers. It’s either you’d get positive feedback or a negative one. Either way, their “No” should never be taken personally.
There are many companies out there who are likely to accept your proposal and get things going for you. So yea, this is one of the best businesses you can do in Ghana with just 500 cedis or less.
READ ALSO: FOUR REASONS WHY YOUR BUSINESS MUST BE ON SOCIAL MEDIA
3. Shopping and selling to offices
Compared to the point previously discussed, you may still have more options with these busy bees. Many people find it difficult to eat someone’s home-cooked meals. So let’s give them an option they can’t reject.
Shop foodstuffs and fruits and sell them. The thing about busy people is that they end up shopping from their neighbourhood at exorbitant prices. They complain but there is nothing to do.
Bringing foodstuffs and fruits with prices that are a little higher than in the market will be duly patronized.
In the meantime, if you think that selling foodstuffs isn’t your strong fort but, how about selling some perfumes, shoes, skirts, shirts, ties, trousers and many more.
This is another business you can do in Ghana with less than 500 Cedis. And the profit margin is always good.
2. Bead Making
Bead Making is by far one of the most lucrative businesses you can do in Ghana with less than 500 Cedis on this list.
Amazingly, this trade allows you to price your products however you feel fit. Why is that? Beads are sold at sometimes very ridiculously low prices compared to when it is made into a gorgeous necklace or a handbag. The skill takes time and finesse so bead makers do not necessarily charge per money invested. They charge for the time invested.
Let us convince you further. A high-quality seed bead is priced at 10 Cedis in the market. At home, you can make at least 4 simple necklaces out of this packet of seed beads. Now I ask you, how much would you like to sell a necklace and how much profit are you calculating?
If you’re interested in this particular idea of Businesses that you can do in Ghana with less than 500 Cedis, what else would be an excuse? Not knowing how to bead?
There are a ton of YouTube tutorials that teach beginners the beading process.
Investing 200 Cedis is just fine and you’ll still make loads of income from this.
1.Teaching a skill online
What useful skills do you have to sell? We’re in an era where people are curious about a lot of things. Even further, they’d like to learn. It could be singing, dancing, exercising, writing, and a whole lot more. Monetize it.
With as low as 300 Cedis, you could design flyers, set up social media pages, promote these pages and offer classes on WhatsApp or telegram. You’d be surprised how many people would want to learn a skill you’ve never really valued.
Low prices would encourage prospects to satisfy their curiosity so a cool 20 Cedis for one week of the class would work just fine. If you can get 10 people a week, how much will that make you a month?
Teaching a skill online is one of the businesses you can do in Ghana with less than 500 hundred Cedis and would bring in a revenue of at least 800 Cedis a month.
If you are considering how to package your knowledge or wondering if your skill is worth selling, you can contact us here for consultation.
Conclusion
The mistake most Ghanaian businesses do is wanting to make twice as much as invested into the business.
If you’ve taken our advice so far, then you should take one more. Don’t overprice your products. If you bought a pair of shoes at 25 Cedis, sell them at 30 Cedis or 35 Cedis.
Fine, there are some businesses that genuinely give you 100% profit. Farming is one of them. But, don’t expect to gain 100% profit from selling anything. It is just not ideal.
Giving the right prices for quality products boosts sales.
Finally, learn to smell and look good. Remember that, you might be pitching and first impressions count. A splash of confidence wouldn’t hurt anyone either.
Hopefully, these 5 businesses you can do in Ghana will help yield results for you.
We wish you the best of luck in any of these endeavours and we’re glad to have been of help. Please come back and share your experience with our readers.
We’ll love to hear from you soon.