It is expensive being a student in Nigerian universities. The cost of handouts, transportation, recharge card and basic cost of living takes a huge toll on majority of the students in our tertiary institutions. It is no wonder that most smart students are looking for ways to make money in Nigeria.
The educational system is not designed to cater for part time work during school periods, so businesses that are not time consuming would fit students perfectly.The only way to have a control over our destiny is to create it.
Benefits of starting a business as a student
- By starting a business as a student, you gain vital employ-ability skills, especially considering how competitive the Nigerian job market is. Learn problem solving skills, interpersonal skills, customer service, time and money management.
- You gain business acumen and become a better money manager by running your business. From an early stage, you learn about the potholes in being an entrepreneur and how to mitigate them in the future.
- Campus resources such as free Space, free campus security and large population provides a low risk high reward business environment.
How to successfully execute business as a Student
- Identify a problem and design your own solution.
- Evaluate and research market survey, target customer habits and competitors for your intended business.
- Identify a problem and design your own solution.
- Write a Business plan.
- Set up the business.
- Promotion & advertising through online and offline means.
- Time & Money management is key to business success
- Above all, focus & self motivation would enable you strive to make your business targets.
SEE ALSO HOW TO GET A JOB IN NIGERIA WITHOUT CONNECTION
14 Business Ideas to Make you Money as a Student in Nigeria
The following businesses require less in terms of effort, time and cost.
- Typing Business / Printing /Online registrations: High cost of internet service for student, lack of personal printers, constant need to print hand outs and poor IT literacy among Nigerian University Student keeps this business. Online registration for courses, jobs, scholarship, school fees payment, Waec/jamb will open this business up and increase it’s reach beyond university students but prospective ones living in the neighborhood. Lobbying student politicians, churches and student societies could be a means of getting bulk/constant printing orders.
- Recharge card business and Telephone business: Every student owns at least one phone and therefore the need for recharge card never runs out. Printing of recharge cards is more profitable than just retailing, although the start-up cost is also higher.Students require charging for their phones due to constant power outage. This venture isn’t a cash cow but the frequency at which students need to charge their phones would keep the income flowing in.
- Tutorial classes and Home tutoring: Knowledge is power. By coaching other students in your academic year or below, you could earn extra money and also ground your knowledge in that field. This is because practice makes perfect.Parent are increasingly lesson teachers for their wards.Home-tutoring for these students could prove to be profitable because it requires little effort and time.Social media and referrals are the best ways to advertise your business.Advertisement on school notice boards, online portal and school walkways would also benefit your business. Compilation of past papers and answers are also in high demand.
- Freelance/ Resume writing : If you’re good at writing, then this is your niche. Many websites are looking for part time writers, the deadlines are usually flexible and the pay is good. It is an avenue to work with experienced editors that would help improve your writing skills for future purposes. Also, seeing your write come to life on their website is very satisfying and motivating. Content creation will enable you learn about different interesting topics.As students apply for jobs, the need for CV’s increase. Students with strong writing abilities could tap into this opportunity.
- Graphic Design : Internet users have outgrown expectations and with this the need for graphic design has also been on the rise. Branding of logos, banners, brochures, magazines, business cards, web and blog page design can generate a lot of profits for a skilled graphic designer. Knowledge of Corel draw and Adobe photoshop are skills that would help in gaining employment even after graduation.
- Laundry & Cleaning services : There are a considerable number students in every Nigerian university, this created an insatiable demand for laundry services. You can employ wash men at a negotiated price and work on promoting the business among friends and campus residents. The start-up cost for this business is very small.
- Pastries and cake making : Creativity could make or mar this business. Cakes are Sought out for birthdays, weddings or events. Showcasing your creativity on the cakes would draw attention to your business. Online presence will also help drive sales.
- Blogging and Video blogging (Vlog) : With a laptop and reliable internet service, you could generate profits beyond your imagination from the comfort of your room. Blogging is becoming a cash cow in Nigerian tech space. Ability to be versatile and write about various interesting topics could drive traffic to your site, and with it comes income. A campus blog would be a great avenue for other businesses and events on campus to showcase their adverts for a fee. Vlogging takes blogging to a whole new dimension. It allows you to speak about various topics while giving your subscribers a video experience. This would require a camera and good editing skills. It is a novel and innovative means of blogging, tapping into this market would keep you ahead of the game.
- Hair dressing : Hair making depends on building customer trust. Referral is the best way of promoting this business because people are very particular about their looks and very skeptical about experimenting. Proximity to the hostel and staying abreast of trendy styles could help generate profits. You could gain experience by shadowing a hairdresser at a salon for a short time.
- Tailoring: Nigerian University students are known for their love of fashion, if you’re at sewing different trendy styles, then you are sure to generate income through this business. Hiring a sewing machine, pending when you could acquire one, could significantly cut down the start up cost.
- Photography : Matriculation, Graduation, birthdays and events happen all year round at the school and students love the opportunity to record these memorable experiences. The incessant need for passport photograph would drive your business profits.
- Event planning / promotion /MC: Events are usually scheduled during the weekends, this is a great avenue to make extra cash. It is also a great networking opportunity for students who want to delve into the entertainment industry. Proper marketing and picture quality would help promote this business.
- Jewelry Making : Bead making courses usually last about 2 weeks, signing up for these classes will give you the needed expertise to create your jewelry. Fine creativity will market your products for you. Ensure to advertise to both online and offline users. Talk to customers and friends, get honest reviews and constructive criticism to enable you improve your products.
- Sport Betting and viewing Centre : This business requires a larger capital for start up, but it also generates huge profits and customers will always patronize your services in flocks. Football is ingrained in the fiber of the Nigerian way of life, and most sport enthusiasts bet to feel the adrenaline of the game. Also to test their luck with the aim of making extra cash. This business requires documentation with the betting agency, setting up television screen, laptop, printers, banners and chairs. If properly managed, this business would successfully change your standard of living in the university.On campus jobs such as Library shelf keeper, student journalism, student politician etc. are also a great opportunity to earn some money while on campus.