Student Guide

17 Businesses You Can Start with ₦5,000 in Nigeria As a Student

NewSchoolWeb Team

What if I tell you that you can start a business with as little as ₦5,000 as a Nigerian student?

Sounds unbelievable right? But it’s very possible.

There are still many simple businesses you can start in school with just ₦5,000.

And with the right business plan and strategy, you can grow your business to greater heights.

Oftentimes, I see many Nigerian students complain about lack of money.

Well, you shouldn’t be lacking money if you have a small business you run as a student.

In this blog post, I want to show you 17 businesses you can start with ₦5,000 in Nigeria as a student and make good returns with time.

Ready? Let’s dive in!

Also Read: 25 Businesses You Can Start with ₦10,000 in Nigeria As a Student

Table of Contents

17 Businesses You Can Start with ₦5,000 in Nigeria As a Student

1. Online Freelancing

If you have skills in writing, graphic design, social media management, or any other services, you can offer your services online as a freelancer.

Platforms like Fiverr or Upwork allow you to create a profile and offer your services to clients around the world.

Tips:

Create a professional profile and showcase your skills and experience.
Offer competitive pricing to attract clients.
Deliver high-quality work on time to build your reputation and get positive reviews.

2. Social Media Management

Social media is a powerful tool for businesses to reach their customers.

If you have a knack for social media, you can offer your services to small businesses or influencers who may not have the time or expertise to manage their own social media accounts.

Tips:

Offer a variety of services like content creation, scheduling, and engagement.
Research your clients’ industries and target audience to create relevant content.
Stay up-to-date with the latest social media trends and algorithms.

3. Cleaning Services

Cleaning services are always in demand, especially for busy professionals who don’t have the time to clean their own homes or offices.

With a few cleaning supplies, you can start offering your services to people in your neighborhood.

Tips:

Offer competitive pricing compared to other cleaning services in your area.
Be reliable and show up on time.
Pay attention to detail and leave a sparkling clean result.

4. Printing and Photocopying Services

With a printer and a photocopier, you can start a small printing and photocopying business.

You can offer your services to students, small businesses, or anyone who needs to print or photocopy documents.

Tips:

Offer a variety of services like color printing, binding, and laminating.
Set competitive pricing for your services.
Promote your business by creating flyers or posters and distributing them in your area.

5. Phone Accessories and Repairs

As the use of smartphones has become ubiquitous in Nigeria, there is a high demand for phone accessories like chargers, phone cases, and screen protectors.

You can also offer phone repair services to fix cracked screens, dead batteries, and other issues.

Tips:

Stock up on popular phone accessories and offer a variety of options.
Learn how to repair common phone issues and offer competitive pricing.
Offer excellent customer service and build relationships with your customers.

Also Read: 15 Businesses You Can Start with ₦20,000 in Nigeria As a Student

6. Plantain Chips Production and Sales

Plantain chips are a popular snack in Nigeria, and you can start producing and selling them to your fellow students or at local markets.

With a few ingredients and a fryer or oven, you can start your own business.

Tips:

Experiment with different flavors and packaging to stand out from other plantain chip brands.
Price your products competitively and offer promotions to attract customers.
Distribute your products in high-traffic areas like schools or markets.

7. Popcorn Production and Sales

Popcorn is another popular snack that you can produce and sell to your fellow students or at local markets.

With a few ingredients and a popcorn machine, you can start your own business.

Tips:

Experiment with different flavors and packaging to stand out from other popcorn brands.
Price your products competitively and offer promotions to attract customers.
Distribute your products in high-traffic areas like schools or markets.

8. Laundry Services

With a washing machine and some detergent, you can start offering laundry services to students or residents in your area.

Many people don’t have the time or energy to do their own laundry, so your services will be in high demand.

Tips:

Offer pick-up and delivery services to make it more convenient for your customers.
Set reasonable pricing for your services based on the cost of laundry detergents, water, electricity, and your time.
Build a loyal customer base by providing high-quality services and being reliable.

9. Home-made Snacks Production and Sales

If you have a passion for cooking, you can start producing and selling your own homemade snacks like chin chin, meat pies, or donuts.

With a few ingredients and some basic cooking equipment, you can start your own business.

Tips:

Experiment with different recipes and flavors to stand out from other snack brands.
Price your products competitively and offer promotions to attract customers.
Distribute your products in high-traffic areas like schools or markets.

10. Car Wash Services

Car wash services are always in demand, especially in busy cities like Lagos or Abuja.

With some soap, water, and a sponge, you can start offering your services to people in your area.

Tips:

Offer both exterior and interior cleaning services to differentiate yourself from other car wash businesses.
Set competitive pricing for your services and offer discounts for regular customers.
Advertise your services by creating flyers or posters and distributing them in your area.

Also Read: 25 Best Side Hustles for Nigerian Students

11. Hair Styling Services

If you have a talent for hair styling, you can offer your services to students or residents in your area.

You can specialize in braiding, weaving, or other styles that are popular in your community.

Tips:

Build a portfolio of your work and showcase it on social media or in flyers.
Offer competitive pricing compared to other hair salons in your area.
Build relationships with your clients and offer excellent customer service.

12. Fruit Juice Production and Sales

Fruit juice is a healthy and refreshing beverage that is popular in Nigeria.

With some fruits, a blender, and some bottles, you can start producing and selling your own fruit juice.

Tips:

Experiment with different fruit combinations and flavors to stand out from other fruit juice brands.
Price your products competitively and offer promotions to attract customers.
Distribute your products in high-traffic areas like schools or markets.

13. Shoe Shining Services

Shoe shining services are in high demand, especially in urban areas where people wear leather shoes to work.

With some shoe polish, a brush, and a chair, you can start offering your services to people in your area.

Tips:

Set competitive pricing for your services and offer discounts for regular customers.
Be reliable and show up on time.
Advertise your services by creating flyers or posters and distributing them in your area.

14. Second-hand Clothing Sales

Second-hand clothing sales are popular in Nigeria, especially in markets like Yaba or Oshodi.

You can start collecting second-hand clothing from friends or family members and resell them at a markup.

Tips:

Offer a variety of clothing options for men, women, and children.
Offer competitive pricing compared to other second-hand clothing sellers in your area.
Advertise your services by creating flyers or posters and distributing them in your area.

15. Freelance Tutoring Services

If you have skills in a particular subject like math, English, or science, you can offer your services as a freelance tutor to students in your area.

You can offer your services in-person or online.

Tips:

Offer competitive pricing compared to other tutoring services in your area.
Create a lesson plan and track your student’s progress to ensure their success.
Advertise your services by creating flyers or posters and distributing them in your area.

16. Errand Services

If you have a bike or a car, you can start offering errand services to people in your area.

You can offer to pick up groceries, run errands, or deliver packages.

Tips:

Offer competitive pricing for your services based on the distance and the amount of time required for the task.
Be reliable and show up on time for all tasks.
Advertise your services by creating flyers or posters and distributing them in your area.

17. Photography Services

If you have a talent for photography, you can offer your services as a freelance photographer to individuals or businesses in your area.

You can specialize in event photography, portrait photography, or product photography.

Tips:

Build a portfolio of your work and showcase it on social media or in flyers.
Offer competitive pricing compared to other photography services in your area.
Build relationships with your clients and offer excellent customer service.

To summarize, starting a business with ₦5,000 as a student in Nigeria may seem challenging, but with creativity, dedication, and hard work, you can turn your ideas into successful businesses.

With the right approach and the willingness to learn, you can achieve financial independence and create a better future for yourself as a student in Nigeria.

Also Read: What Are Good Foods To Eat As a Nigerian Student?

Benefits of Entrepreneurship for Nigerian Students

There are many benefits of entrepreneurship for Nigerian students.

They include:

1. Financial Independence

As a student in Nigeria, it can be tough to make ends meet.

However, starting a business can help you earn money and become financially independent.

No more asking your parents for money or relying on student loans!

By creating your own source of income, you’ll have more control over your financial future.

2. Skill Development

Starting a business requires a wide range of skills that are highly valued in the job market, such as leadership, communication, problem-solving, and critical thinking.

As an entrepreneur, you’ll have the opportunity to develop and hone these skills, which will come in handy in your future career.

Also, you’ll be able to show potential employers that you have real-world experience and an entrepreneurial mindset.

3. Personal Growth

Starting a business can be a challenging and rewarding experience that can help you grow in many ways.

For example, you’ll learn how to take risks, deal with failure, and bounce back from setbacks.

You’ll also discover your strengths and weaknesses and gain more confidence in your abilities.

By pushing yourself out of your comfort zone, you’ll discover new passions and interests that you never knew you had.

4. Contribution to the Economy

As a student entrepreneur, you have the opportunity to make a real impact on the Nigerian economy.

By starting a business, you can create jobs, generate wealth, and drive innovation in your community.

Who knows, your business could be the next big thing that revolutionizes your industry and transforms your city!

5. Flexibility

One of the greatest benefits of entrepreneurship is the flexibility it provides.

As a student, you’re probably juggling a lot of responsibilities, from attending classes to studying for exams.

Starting a business allows you to work on your own schedule and prioritize your time as needed.

Whether you want to work part-time or full-time, you have the freedom to choose what works best for you.

6. Networking Opportunities

Entrepreneurship is all about building relationships and starting a business can provide you with valuable networking opportunities.

As you interact with customers, suppliers, and other entrepreneurs, you’ll have the chance to learn from others and make valuable connections.

Who knows, you may even find a mentor or a business partner who can help take your business to the next level!

7. Social Impact

Finally, entrepreneurship allows you to make a positive social impact on your community.

By starting a business that addresses social problems or improves the quality of life in your area, you can create a more sustainable and equitable society.

Also, you’ll feel great knowing that you’re using your skills and talents to make a difference in the world.

To summarize, entrepreneurship offers a wide range of benefits for Nigerian students, from financial independence to personal growth and social impact.

Whether you’re looking to earn some extra cash or start your own empire, there’s never been a better time to become an entrepreneur!

Also Read: Food Timetable for Nigerian Students on a Tight Budget

How to Choose a Business Idea with ₦5,000 As a Student in Nigeria

It can be tough to choose a business idea, especially when you’re working with a limited budget of ₦5,000.

But don’t worry, I’ve got some tips that can help you out.

First things first, think about your skills and interests.

What are you passionate about? What are you good at?

You can leverage your skills and interests to come up with a business idea that is aligned with your goals and values.

Next, do some research. Look for gaps or needs in the market that you could fill with your business idea.

Consider the problems that students face and how you could help solve them with your business.

Maybe there’s a need for tutoring services or laundry services, or maybe there’s an opportunity to sell products online or in your community.

With ₦5,000, you may have limited resources, so it’s important to look for low-cost opportunities.

Think about starting a service-based business that requires minimal investment, like offering cleaning services or running errands for busy students.

You could also sell products online or in your community, like handmade crafts or baked goods.

When considering a business idea, don’t forget to assess your resources.

Think about the time and skills you have available, in addition to your financial resources.

Choose a business idea that you can execute with the resources you have available.

It’s also important to seek advice from other student entrepreneurs or business mentors.

They can provide guidance and support as you start your business.

And remember to think about scalability.

Look for opportunities that have the potential to grow over time and that can generate more revenue as you invest more time and money into the business.

So, there you have it! With these tips in mind, you can choose a business idea that aligns with your goals and resources, and start your entrepreneurial journey with confidence.

Also Read: What Problems Do University Students Face in Nigeria?

How to Manage Your Business and Studies as a Student Entrepreneur

Would you like to learn how to balance your business and studies as a student entrepreneur?

Don’t worry, am here for you!

Balancing these two important aspects of your life can be quite challenging, but with the right strategies, you can do it!

First of all, setting priorities is key.

You need to determine which tasks are the most important and tackle them first.

It can be helpful to create a to-do list each day and prioritize your tasks accordingly.

Next, create a schedule that works for you.

Allocate time for both your studies and your business, and make sure to include time for rest and relaxation too.

And don’t forget to use productivity tools like calendars and time management apps to help you stay organized.

Outsourcing tasks can also be a great way to manage your workload.

Consider hiring freelancers or virtual assistants to take on tasks like social media management or bookkeeping, so you can focus on your studies.

Communication is key. Be sure to let your professors know that you are a student entrepreneur and may need some flexibility with deadlines or class attendance.

Most professors will be understanding and willing to work with you to find a solution.

Don’t be afraid to involve your support system too.

Reach out to friends and family for help with running errands or managing your social media accounts.

And consider partnering with other student entrepreneurs to share the workload.

And last but not least, stay motivated!

It can be easy to feel overwhelmed or burnt out when juggling school and business.

Set achievable goals, celebrate small wins, and remind yourself of your long-term vision to keep your motivation levels high.

To conclude, managing your studies and your business requires prioritization, scheduling, outsourcing, communication, involving your support system, and staying motivated.

With these tips in mind, you can effectively balance your responsibilities and achieve success both in your studies and your business.

Also Read: How Do I Make a Food Timetable As a Student in Nigeria?

Frequently Asked Questions (FAQ)

What Businesses Can a Student Do in Nigeria?

Are you a student in Nigeria looking to start a business?

Well, good news – there are plenty of options!

You could sell your own handmade crafts, offer tutoring services, start a small food or beverage business, or provide laundry services.

If you’re tech-savvy, consider offering mobile phone repair services or creating digital content like writing or graphic design.

And with the rise of e-commerce, starting a small online business is also a great option.

Just make sure to do your research and stay on top of any legal requirements.

How Do I Earn Money As a Student in Nigeria?

Are you a student in Nigeria who needs to make some extra cash?

No worries, there are plenty of ways to earn money while still keeping up with your studies.

You could offer tutoring services, provide laundry or cleaning services, sell your own handmade goods, fix people’s mobile phones or computers, or even start your own small food or beverage business.

And if you’re looking for more flexible work, check out freelance websites like Upwork or Fiverr.

Just keep in mind to stay organized and balance your work with your studies.

What Is a Side Hustle for a Nigerian Student?

A side hustle for Nigerian students is any way they can make some extra cash while still focusing on their studies.

It could be as easy as selling handmade crafts or offering tutoring or cleaning services.

If you’re a tech whiz, why not create digital content or freelance on platforms like Fiverr or Upwork?

The possibilities are endless but keep in mind to prioritize your studies and manage your time wisely.

With a little bit of hustle, you can turn your side gig into a successful venture!

How Can a 17-Year-Old Make Money in Nigeria?

Are you a 17-year-old in Nigeria looking to make some cash? Look no further!

You can offer tutoring services, sell handmade crafts, start a small food or beverage business, or provide cleaning or laundry services.

And if you’re tech-savvy, creating digital content or offering freelance services is a great option too.

Don’t forget to do your research and stay on top of legal requirements.

With a little bit of hustle, you can turn your passion into profit!

What Can I Be Selling As a Student in Nigeria?

Are you a student in Nigeria looking to make some money?

There are many things you can sell!

You could create and sell handmade crafts or clothing items, offer beauty or skincare products, or sell tasty snacks and drinks.

And don’t forget about your own skills – offering tutoring or cleaning services is a great option too.

With the internet, you could even sell digital products like eBooks or graphic design services.

Just make sure to do your research and have fun with it!

Also Read: What Can I Cook As a Student in Nigeria?

Conclusion

As a student, you can use the income from your business to do a lot of things like feeding, paying for your accommodation, or buying textbooks.

You will agree with me that education in Nigeria can be expensive and if you are studying certain professional courses, it could even be worse.

So to support your parents and lift the burden off their shoulders, starting a small business while in school could be helpful.

₦5,000 may be little, but with creativity and a willingness to work hard, it is enough to start a small business as a Nigerian student and grow it into something bigger.

Starting entrepreneurship early can help you gather relevant experiences and skills which can help make it easier for you to land a good job after you graduate from school.

Also, if you would like to become a full-time entrepreneur in the future, this is the best start to start developing the necessary skills.

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