You can agree with me that there is money in the educational sector of this country. If you really want to build a residual income, then invest in education. Why? This is simply because the number of people seeking for Education will only keep increasing but never decrease. Do you know that every year, over 1Million candidates register for JAMB, and this number keeps increasing year by year ever since JAMB was made a criterion for gaining admission into Nigerian Universities.
Most Universities have high Cut-Off marks of between 250 to 300 points. This has made the exam very competitive and the candidates very desperate to pass with high marks, leading to the proliferation of JAMB coaching centers across the federation with some of them charging as high as N25,000 registration fee per candidate. You can see how lucrative this business can be.
There are just a few things you have to put in place to kick start your own JAMB, WAEC or GCE coaching Center. A very conducive environment for learning is paramount for this business to thrive, and of course, highly qualified teachers to do the Job. If you have the money, you can rent a venue. You can also use one or two classrooms of any school in your vicinity if you have access to it. But if you are starting on a small scale, and you are very good in all the subjects, then you have to do the coaching yourself and forget about employing teachers. You can also use your house as the venue in order to cut cost.
This business is very lucrative because it brings recurring income for you. Many people depend on it as their major means of livelihood. You can never run out of business because students write exams all year round. JAMB exams usually falls between March and April, SSCE falls between May and June, NECO GCE and WAEC GCE fall between October and December. This is the examination circle in this country. You can now agree with me that students write exams all year round, therefore you can’t run out of business.
HOW TO ADVERTISE YOUR BUSINESS
If you must make more money from this business, you need to have an appreciable number of students. You can only achieve that if you advertise properly. You can print fliers and distribute it to secondary schools in and around your vicinity. You can also do a house to house marketing to inform your friends and neighbors about your private lesson. And above all, you must ensure you deliver quality coaching that will reflect in the performance of your students. This will help you at the long run because some people will register with you just because you have a very good record.
HOW MUCH CAN I MAKE FROM THIS BUSINESS?
JAMB lessons usually run for three months. If you decide to charge N5000/month per candidate, that means each will be pay N15,000 by the end of three months. Now Assuming you have 20 candidates, that means you have made N300,000. Even after subtracting your expenditure, you should still have nothing less than N200,000 in your pockets. You can see how lucrative this business can be. If you happen to have more than 20 students, that means more money in your pockets and this goes on and on all year round.
So if you have been thinking of starting this business, I believe I have been able to help you make up your mind.
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