There are many profitable businesses for Nigerian students. You can launch these businesses with 20 thousand Naira, but only few students notice them. And as such, this article will show you the top 3 businesses you can start with 20k as a student on campus in Nigeria. These ideas were selected based on research in Nigerian campuses. The businesses have low operating cost, low entry requirement, can be launched with little or no investment capital.
Almost everyone knows what it means to be broke in school. What it means to be in dire need of money to meet basic and academic needs. With these 3 business ideas and opportunities, you can start, with 20k, to make extra cash in order to compliment the little money given to you by your parents, as a student.
Businesses You Can Start With 20k As A Student On Campus In Nigeria
It is not easy combining studying with a side hustle. But since the Nigeria economy keeps frustrating, starting your own business while still in school will be a good decision to make. This is because you will be;
1. Increasing your entrepreneurial skills which in turn increases your human capital value.
2. Availing yourself with multiple streams of income.
3. Learning how to be independent and take decisions for yourself.
4. Giving yourself multiple options after school i.e you can practice what you studied in school and have knowledge, skill and experience in other areas.
There are numerous business ideas for Nigerian students, among them are:
(a) Hair Barbing For Men or Braiding Of Hair For Women
This is one of the most profitable businesses for Nigerian students. If you are skilled in cutting hair, all you need is a clipper set (including brush, steps etc) which you can get for 10,000 Naira and a long mirror. You can set it anywhere close to an electric outlet and cut boys hair. This is especially lucrative in the hostels where you have an abundant supply of students looking to shave every week. Of course you may need to pay a fee to the porter, but it should not be overwhelming.
Another great way of making money while in school is braiding of hair, whether you are a guy or a lady as long as you are skilled in braiding hair, you can plait your fellow students hair and get paid for it. Tell students by word of mouth or on social media what you do. Market yourself in the female hostels and to your female course mates. The business is so lucrative because if has low to zero operating cost. With this, you will be able to offset your school bills.
You can learn to plait hairs and fix weave-on, and offer the services for a fee in school. You can charge as much as N500 to fix a weave-on and N1,500 for plaiting of hair depending on the going rate in your location. Also offer manicure and pedicure services. Here is an easy guide to perfect such skill.
A lot of female students fix their nails especially during the weekends. You can offer a home nail fixing service business. You can purchase the basic equipment needed for fixing nails with N3,000 and charge as low as N300 for each service rendered.
(b) Making Pastries And Snacks
Students need cakes and small chops for birthday celebrations and other occasions. If you have the skills, you can tap into this opportunity and make your money in your spare time. Once they know you are good, you will never run out of money. Word of mouth is a powerful advertising tool especially in school and out of it.
The good thing about this business is that no matter how bad the economy is, it is still one of the most lucrative around. With as low as 20k, you can get most of the equipment and ingredients needed to start. For a start, some of the equipment and ingredients that is important may include:
- Baking utensils (frying pot and stove) – ₦9,000
- Trays – ₦2,500
- Frying instruments (measuring cups, tongs, frying spoon with handles) – ₦3,500
While for ingredients since it is on a small scale what you will need includes:
- Flour – 1 Bucket (₦800)
- Yeast – 1 Pack (₦700)
- Sugar – 1 Mudu (₦700)
- Icing Sugar – 1Kg (₦1000)
- Margarine – ₦1,500
NOTE: Stove and frying pots are already in place since we are talking about students and most of them take it along from home.
Now what makes this particular business very successful for some students is in the area of creativity and packaging. Since there are many competitors in the business, the ability to study them and know their weakness is very important. Also, consistency is key in having more customers and more income coming in. As long as customers get quality products at the right time, there is nothing stopping you from becoming successful in the business.
(c) Recharge card business
There are 2 ways to run the recharge voucher business. Either you deal in bulk recharge card printing, which is still very lucrative although costlier to start, or you sell as a retailer.
You can buy bulk units of ₦100 and ₦200 recharge cards and sell at a higher prize. Most wholesalers sell at the 10 units of ₦100 recharge card for ₦920, this gives you an ₦80 profit after sales. You can easily start up this business with as low as ₦5,000.
These are some businesses you can start with 20k as a student on campus in Nigeria. They will enable you generate enough income to take care of yourself while in school. I believe you are well informed. But in case you need a business plan to fully utilize your possibilities visit our homepage.
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My name is Emmanuel Ejiga. Content lead of OG Capital
I am a writer. Technical writer, song writer, and sometimes fictional writer.