#FlexxMoney – How This 24-Year Old Student Makes 450,000 Monthly

#FlexxMoney is a bi-monthly series that delves into the times and tales of young Nigerian adults’ relationship with money, their struggles and wins while navigating through economic hardship and serving as a relatable compass to protect and grow their money. 

Her phone was buzzing at intervals and with each call, she’d heave a sigh and respond with a quick “how far?”. I let her take the call and she returned to the table after a while. “Sorry sis, oya back to our gist”.

I met Kasarachi at spin class where she had spotted the hyperpigmentation on my neck. She then asked in the most polite manner; “I don’t mean to be intrusive, but I know a good product that will clear your hyperpigmentation”. Fast forward to cleared hyperpigmentation and a budding friendship, I discovered Kasa was a 300L student at UNN. This piqued my interest and just had to share her story. Here’s how this 24-year-old is schooling and running a business

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School and Business? Best in multitasking 

I think a major ick about myself is that I put myself under pressure. I got into school on my third attempt so I guess I’m trying to make up for the lost time. Also, I try not to allow both areas of my life to clash. School is school and business is business. Except I’m working with a group, I never let an assignment exceed 24 hours. My parents pay my school fees and with everything happening in Nigeria, it will be wicked of me to waste their money. I think anyone who has mastered time management and discipline can also do it.

So, how did this happen?

School was on strike and I was just moving from one social media site to another out of boredom. Then, as I was scrolling through TikTok, I saw some skincare routine videos, I checked the prices and reviews online and they were not affordable. I knew there were people like me who definitely wanted effective and affordable skincare, so I decided to do my research, test the idea with a few friends and family and the business was launched!

Was this your first experience owning a business?

I had tried my hands on a number of businesses before now. I knew I needed a plan to survive in the real world because many egbons that had graduated before I got into school were yet to secure good jobs.

So, I first ventured into thrift clothing, but because I didn’t have enough knowledge about bales and the thrift business in general, I ran at a loss. Then, I learnt makeup. I remember when I was learning makeup, my instructor liked to send me on Amala errands to Agege market; so on one of such errands, I just left the money on the table and didn’t return to the studio.

LOL. How did you get your first paying customers?

Call it proactiveness or instinct, but the first thing I did was to create an Instagram page to just curate skincare videos, share content, credit the content creators and grow the audience to be for just skincare lovers. So, when I was ready to launch, I archived all the posts that belonged to the other content creators, I changed the handle to my business handle, changed the profile picture and started posting the products I had for sale. That way, I already had an audience that was interested in the things I had for sale.

Smart! But, how did you get money to start the business?

There was some money saved from the thrift business which was about 200k. I also did some ushering gigs that paid 10-15k depending on the event and then money gifts from my family as well. I believe the total was about 305k when I first started

Walk me through how you make sales

Every day, I make sure I follow up with potential customers, post helpful content on my WhatsApp status, and InstaStories and then engage with the skincare community on TikTok. I try to educate as much as I try to sell. People like the fact that I sell affordable skincare.

How much do you make monthly on average?

It ranges from 450,000 – 700,000 especially when I do bumper pack sales or seasonal sales

And on a rough month?

Thankfully, I’ve had very few of them. I think I have maybe made 200k on a bad month

Do your parents know you make so much?

They don’t exactly have an idea. My mum takes delivery of my goods when they arrive in Lagos but she doesn’t have an idea of how much I make. I make it a duty to send something home every month, no matter how little

Because of Black tax?

Interestingly, my parents have never asked me to sort a bill for them but they know I’m comfortable. My younger siblings on the other hand make requests for several things and I sometimes can’t say no. 😏

What was your first big girl purchase?

My iPhone 13 pro max I think. It’s good for content creation so it’s a win for me

Have you met with any challenges so far?

They’re too many to count! From dispatch riders, counterfeit products, courier services, hiring a good assistant and so many I have lost count. However, one of the most painful challenges I encountered was when someone in my hostel reported to the authorities that I was selling in the dorm and was attracting potential thieves to the hostel. I was given just a few hours to pack my goods away from the hostel and had to look for someplace in town to save them. Funny enough, she too has started selling organic skincare products. 😂

And Onigbese’s?

I can proudly say I don’t have anyone owing me. Because of the business model, I only release goods when payment has been confirmed. My classmates and schoolmates also know this too so when they ask me to keep an item for them, they send their payment.

Can you do a breakdown of your monthly expenses?

Is there something you’ve always wanted but couldn’t afford?

Maybe a car? Or a vacation to Beirut. I’ve been seeing the content everywhere on TikTok and Snapchat. I know I’ll be able to afford the things I want very soon

Savings and investments

I have about N2.1milliion in savings. Although I’m yet to have any investments, I’ll do my research before putting money into any.

Where do you see yourself in the next 5 years?

Definitely expanded my business, and maybe I’ll go into perfume sales as well. But, I hope I’ll be married in 5 years with a thriving career and business

Do you have a story to share about your relationship with money? Then send a mail to theflexxzone@fcmb.com