Relying on allowance from parent every month gives some sort of restriction on what you can buy as a student, this is why it is very important to create another source of income, there are various ways of making money both offline and online, but most of this means requires special effort and time, as a student it’s not a good idea to get involved in things that would distract you from your academic pursuit since it is your primary objective. However, importation business is an effortless way of making money as a student, with little capital; your spare time can be used in making thousands of naira every month. If you’re not familiar with the importation business, you should read about how Importation from china works (add link from the article here) so as to get a grasp of the importation system. Students are regarded as lavish spenders because they get what they want at any cost, this spending attitude among student is a source of revenue for smart students, there are various items that can be sold within short time frame in student environment, importing this items and selling them to your fellow student would earn you great income over time.
For the purpose of this article, I would use a particular product as a case study for proper understanding, let’s imagine you have a budget of six thousand naira (approximately 30USD) as a startup capital for your importation business, the best way to invest such little capital is to buy cheap items that cost less and sells very fast, the idea is to import items that would run out of stock almost immediately after delivery, for example a stylish earphone on Aliexpress cost less than 1USD, proper searching will yield results of cheap earphone with discount on bulk purchase and free shipping, provided you can’t find an item with free shipping, you can contact the seller and try to talk them into shipping it out to you for free, because you will be placing more order from them ( I have done this with luck several times) eventually you get to eliminate or reduce the shipping cost. Let’s assume each earphone cost $1, with your capital you placed order for twenty five (25) pieces, with free shipping.
After placing your order and expecting delivery, the next thing is to find buyers for your item, it would cost less than #100 to create publicity within your school campus, download a picture of the earphone and print the picture on a paper with the price and your contact details, make photocopies and paste the paper around campus and hostels, this can be done during your spare time, if you have a free period during lecture hour, you can use the time to pitch the earphone to your course mate. Create a list of interested buyers, and let them know the expected date of arrival.
If you find the whole process too stressful or you’re probably the shy type, another option is to get in touch with retailers in your school, there are phone shops everywhere, sell the earphone to them at an inflated price of $1.5 or $2 per piece, that way you make a 50% or 100% return on investment. I am writing this from experience, student like quality, if the earpiece is worth the price, you won’t have any problem selling it on a larger scale. If you need ideas on items that can sell very fast, read the article on 5 Items You Can buy cheaply and Sell Fast in Nigeria.
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