Some of the things you can do to make money as a Teacher with what you have and make cool money are:
1. START A FARMING BUSINESS TO MAKE MONEY AS A TEACHER
It can either be animal husbandry like Poultry, Fishery, Snailry, Rabbitry, etc or crop production like Maize, Yam, Oil palm, Moringa, flower etc. Many teachers are into farming but they practice the farming such that it cannot be called a business. Please, get some knowledge in this area. Read materials and visit people in their farms to get knowledge. These people can help you to start.
This will involve some knowledge of computer. Open your centre and employ people there. During the holiday, organise computer training for your students and other students from other schools.
3. START A LESSON OR TUTORIAL AT HOME TO MAKE MONEY AS A TEACHER
This is one of the ways you can make good money. Once you are very good at your subjects, students from other schools will come to your tutorial; so will students from your school. I know a Chemistry teacher that organizes alternative to practical classes on Saturdays and Sundays for 50 naira over 10years ago. More than 300 students come every weekend. The same thing applies to UTME and GCE lessons.
4. EXAM MARKING
It is Teachers that mark GCE, NECO, and WAEC. You can apply during this marking periods which is mostly 2weeks and make good money. However you should have academic qualification and experience in the subject you are marking.
5. WRITE A BOOK OR WORKBOOK TO MAKE MONEY AS A TEACHER
Teachers are always considered as experts in their field. You write on topics like bullying, self esteem for children, and help children who are having trouble in school. You can write short play or novels, solve past questions for WAEC, GCE and you can write poems. Just take the knowledge and start to write what you know and you will be surprised at the results. You can also write on discipline and order, study skills for undergraduates.
6. JOIN A COOPERATIVE SOCIETY TO MAKE MONEY AS A TEACHER
This is one of the fantastic ways to raise startup capital for teachers. There are lots of benefits as a member of a cooperative society, especially when you want to buy expensive equipment for your business.
7. APPLY FOR A LOAN/GRANT IN THE BANK TO MAKE MONEY AS A TEACHER
Most times, Banks have special packages for Teachers. Some of the packages are car loan, house loan e.t.c. You can get this loan and start a business. I know of a Teacher that got a car loan, instead of buying a car, he built a hostel for students. After 3 years, the rent from the hostel bought him a car. Whereas, his fellow colleagues after 3 years had used their own car to a fault.
8. START A CATERING BUSINESS TO MAKE MONEY AS A TEACHER
Some teachers have interest in cooking and they can be in the kitchen from morning till evening. You can get contacts for baking or cooking during the weekends and make cool money.
9. START A DECORATION BUSINESS TO MAKE MONEY AS A TEACHER
This is another area that people are going into full time. Decorating events is now a money spinning venture. As a Teacher, you can learn the skill and start decorating.
10. RENT SOMETHING OUT FOR MONEY TO MAKE MONEY AS A TEACHER
This Is an investment that most Teachers have not explored. I know of a teacher that applied for a loan and bought Canopies, Chairs, and Tables for rent and within six months, he made a lot of money.
Apart from this, you can rent out your decorating materials, cooking utensils. You can start a partnership venture. 3 to 4 of you can come together and apply for a loan and build an event centre I.e. a hall for rent. You can rent out your lesson note e. t. c.
11. BUY A TAXI AND START A TRANSPORT BUSINESS TO MAKE MONEY AS A TEACHER
You buy the taxi and give to somebody to drive it for you. Don’t be surprised that some Teachers have 3 to 4 buses and cars plying the road everyday and they are making cool money.
This is a business you can invest your money in and employ somebody in the business. You can also help your school to open a retail business to provide things for the teaming population of students and fellow Teachers.
This is a concept in which a company pays you for helping them to market their product. It is called word of mouth marketing. What you do is that, you join a good company that you like their product and you become an agent. It can be so rewarding if you understand the industry very well and you give it the required commitment.
14. BE AN EDUCATIONAL CONSULTANT
Consultants help people to proffer solutions to their problems. You can become an educational consultant in your area of expertise. There are some people that are good in the area of helping people to start a school, manage a school or give advice that can be paid for.
15. WORK AT AN EDUCATION- RELATED PART TIME JOB
Most lessons and tutorials need teachers that will work on part time basis. You can avail yourself of these opportunities to make good money. Some even pay per hour. Most times, the time is always different from your normal teaching job hours.
As a professional Teacher, you can get more information along your area of discipline or a subject that is different. E.g Relationship, Entrepreneurship, Peak performance, Success discipline, Academic excellence and so on. You can decide to teach people. You organize events and people will pay to attend. Before you know, you will be given an invitation in different platforms to come and speak. As a result, you will make your cool money.
17. BE AN INVESTOR
It is good to earn money, but it is great to invest money as a teacher. Don’t spend all your earnings. You can invest in real estate, shares, or in other people’s ideas or your own idea. You will need to get enough knowledge of a particular type of investment before you commit your hard-earned money. Don’t invest in what you don’t know.
18. START A SCHOOL
The private school of today started over 10 years ago, employ so many people, teach so many students and also make money for the founder. The private school of tomorrow will also be started by someone today and that person can be you. You will need a lot of skills discussed in this article to really build up your entrepreneurial muscles. This idea of starting a school can be very rewarding when you have what it takes to do it not necessary money but the heart and commitment.
This may look somehow as some Teachers are not computer literate. You don’t need extremely specialized computer skills to start online business. However, you still need to learn and be very conversant with the internet. Some online businesses you can start are blogging, Google adsense, affiliate marketing, freelancing, selling of e-books, audio and video materials, building a website e. t. c that will solve human problem.
20. OPEN A BOOKSHOP
Since teaching has a lot to do with books, it is an opportunity to provide books for the industry by simply opening a bookshop in a good location in your area, and cool money will continue to roll in. Students in your school and other schools will definitely want to patronize you.
There are more opportunities than these to make money as a teacher. Time will not permit me to share more opportunities with you to make cool money, but the point is, you need to look at all these opportunities and look at the one that connects with your passion and vision for life. The one your talent can support easily. Get more knowledge along that line and launch out.
There must be a meeting point between your talents and peoples problem. That is where the money is.
Nobody can define how far you can grow your idea and make money. Even your profession does not have the capacity to limit you. It is not about profession but what you do with your time and other resources available to you.
God has given everybody equal 24hours per day. These 24 hours can be divided into 3 which will give us 8 hours each. Your teaching profession will only take one 8 hours chunk, in some places 6 hours. How you invest the remaining two 8 hours is what will distinguish you in life. The third 8 hours is for you to sleep. The point is investing your time very well in profitable ventures.
You don’t have an excuse for not being financially free. With all this information, if you think teaching profession is not your calling and you need to follow your passion, please seek consultation and change your profession. It is not how far but how well. It is not the responsibility of your employer to make you rich. If the employer makes money, he will give you what he thinks you worth, therefore, you have to take your destiny into your hands and be productive with the remaining (2) 8 hours of your day that you can control.
I want you to pledge that you will not just read this article but you will take action. You will start documenting your ideas, creating a vision for your life, and focusing on it.
I believe it is high time, our teachers explored the teaching profession and make cool money.
You will succeed!
Author, Unleashing Your Entrepreneurial Potential,
100/5 Academy 08060779290
BUSINESS CONSULTANT- AUTHOR - SPEAKER - SERIAL ENTREPRENEUR - BUSINESS COACH
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.