Greetings everyone and welcome to my blog. It's a new week of great stories to share with you all. Due to inflation and a huge price increase on goods and services In My country's economy, just one source of income is not enough to pay the bills and supply our basic needs. I have a regular 9am to 5pm job where I receive a monthly salary, to support myself and my family. With the current price increases, it is not enough to pay the bills and support the family. This was the main reason WHY I STARTED A SIDE HUSTLE WITHOUT STRESS.

YES I HAVE A SIDE HUSTLE

My love for making hair and wigs got me into selling hair accessories for females.

KNOW WHAT THE MARKET NEEDS
95% of ladies make their hair to keep them looking beautiful and neat. Some do it themselves and others go out to the shops to make theirs. You need a hair tool to fix your hair.
What are hair tools?
They are tools that we use to add more beauty and give a lasting and final touch to our hair. Ranging from manual combs, hair pins, hair creams, attachments, shampoo, conditional, moisturizers, hair dye, hand dryers, electric hair twisters and many more.

SOME PICTURES OF HAIR TOOLS.

HOW DO I GET MY PRODUCT?

Our main aim of selling goods is to make more money, so I need to buy goods from the original manufacturer or the Distributor or I get my good from the whole sellers in the market.
I create a business relationship with the sellers after buying goods for the first time, so I no longer need to visit the market whenever being out of stock on a particular product.
I just make a phone request and they send my order to the customer with a simple package but if I already have the product I give the customer a shipment date and time to deliver their goods.

HOW DO I CREATE AWARENESS FOR MY BUSINESS?

It's primarily online social media transaction
I Display the goods with their prices list on my social media account, When an interested customer makes a request and pays for the goods, I give a date for delivery and seed the goods to the customer.
Social media platforms, which is open to all. Facebook, Instagram, what's up, and YouTube. These are the few selected I use

GET A BUSINESS NAME

Getting a business name is important, it gives your business a name and makes it unique so that people see your business and trust you with their money. I have a registered business name, for business security and it gives my business a Trusted name.

HOW DO I MAKE A PROFIT?

After the goods have been purchased from the market, you can do a market price survey to know the market price around you and then add a percentage markup on the goods. For example I bought an electric hand dryer from the market at N5,000(Five Thousand Naira) in my country's currency, I would add a markup percentage of 50% to the original price of the goods, which includes my transportation costs and my profit.
A. Purchasing Cost of goods N5,000
B. Transportation N1,000
C. My profit N1,500
D. Vat 7.5% N370
D. SELLING COST OF GOODS N7,870

ALL YOU REQUIRE

1. A SMARTPHONE
2. MARKET SURVEY FOR PRICES AND SELLERS CONTACT
3. BUSINESS NAME (OPTIONAL)
4. TRUSTED LOGISTICS RIDER
5. BUSINESS BANK ACCOUNT (OPTIONAL)

This is just a simple example of how I add up my profit.
I hope this would help someone start a new side hustle and be able to manage it well.
This is in response to the #Hivelearners community contest week 40 edition 1
Topic Title: PASSIVE INCOME
All pictures are mine from my phone.
Thanks for reading