Side Hustles You Can Try Out In 2018
Another year has just
begun and this is usually the best time to take stock of achievements in
the previous year, while mapping out new goals for the future. One can
give some thought to side hustles for augmenting his/her normal monthly
income this year. As needs keep piling up and cost of living keeps
escalating, creating multiple streams of income is one sure way to
overcome the twin problems of lack and poverty in Nigeria.We will be going through a list of 10 side hustles (small businesses one can do alongside normal jobs) and you can decide which of them will be suitable for implementation depending on your passion or funds available.
Manage social media platforms
Startup capital: N150,000
Payback period: 8-12 months
Estimated Income: N20k/Month
Market – Blogs, Small Businesses, Entertainers
The internet world has become a veritable marketing tool and more individuals are using social media to create a steady stream of income. Celebrities, companies and businesses are using these social media platforms to create profitable brands for themselves. All you need to do is study how these platforms work. Facebook, Twitter, LinkedIn, Pinterest, Instagram and YouTube are just a few social media platforms you can manage on behalf of clients which would make you earn serious money this year.
Online Tutor
Startup capital: N80,000 – N100,000
Payback period: 6 months
Estimated Income – N15k/Month
Market – Students, White Collar Workers, Job Seekers
By using Skype and other online platforms, one can become an online tutor and start making some serious cash regularly. People desire knowledge and information in some specific fields and are ready to pay for the information. For example, the current business in demand in Nigeria is the cryptocurrency business and lots of guys are still not aware of how it works. If you are knowledgeable about it, this is an opportunity to earn some money by teaching others who are interested in making profit from cryptocurrencies, at a fixed rate or fee.
Lesson Teacher
Startup Capital: None
Payback Period – Immediately
Likely Income – N100k/Month
Market – Students (Primary, Secondary, Professional)
The demand for specialised lesson teachers is on the increase. Parents increasingly want their children to excel in subjects such as Math, English and Science as they prepare for their common entrance or JAMB exams (or even ICAN exams). If you have a skill in any of these subjects, you can join a freelance tutoring ring, where you can be called upon to teach children an anyone looking to write an exam. You can also start on your own by teaching children in your estate or street.
Create an online course
Startup capital: N70,000
Payback period: 4 months
Estimated Income – N10k/Month
Market – Job Seekers, Students
This is another internet related side hustle that won’t disrupt the normal 8-5 job you do on week days. It is convenient, easy and hugely profitable. Create a blog or website and upload a specific course around a field you are an expert in. It can be an online course on creating income streams from fish farming, poultry farming or agro allied products. You can even create an online course on mastering Mathematics for students. The possibilities are endless. After uploading the course outline, you set your rate, then those who are interested will subscribe and start the course.
Write and sell profitable eBooks online
Startup capital: N20,000
Payback period: 7-8 months
Estimated Income – N30k monthly
Market – Students, Job seekers, Career Seekers, Entrepreneurs
An eBook is simply an electronic book. The world is diverging from paperback to electronic books and more people are keying into the eBook niche market. All you need to do is package information that people are willing to pay for and convert it into an eBook using free Microsoft Word to PDF converter online. Ensure that you are packaging very profitable information. Some years ago, I saw an eBook titled, “How to immigrate to Canada without spending a dime”. It was being sold for N5, 000 and feedback from buyers showed that it sold out.
Become an affiliate marketer
Startup capital: N50,000
Payback period: 5-6 months
Estimated Income – N15K/month
Market – Forex trading websites, Cryptocurrency websites, fashion sites, merchants etc.
There are thousands of companies online that are willing to pay you a commission for promoting their products and services; it’s called affiliate marketing. All you have to do is register free of charge on the affiliate site and get affiliate links which you can add to your website or blog, thereby pushing traffic to the sites. These sites have cookies installed that can track your affiliate links and record your sales. Once your affiliate sales get to a $100 threshold, you get paid.
Computer repair services
Startup capital: N30,000
Payback period: 4 months
Estimated Income – N10k/month
Market – Neighbours, Colleagues, Church Members, Friends and Family
Virtually everyone is becoming computer literate in Nigeria. The need for computer repairs is more in demand as computer users encounter one challenge or the other during the course of using their laptop or desktop systems. The computer repair person basically helps to restore faulty computer systems to their normal status, by using simple diagnostic equipment. It is a specialised skill that can add extra income to an individual’s pocket.
Refuse disposal service
Startup capital: N1million
Payback period: 7-9 months
Estimated Income – N120k/month
Market – State/LGA, Private Estates, Offices
