MoneyStory: ₦350k a Month From Cakes and Catering; Inside a Student Baker's Money Story

Age

23

Occupation

Student, Baker and Caterer

Location

Abeokuta

Rent

180k/yr

Monthly Income

₦300,000 – ₦350,000

Total Savings

₦950,000

What pushed you to learn baking instead of something else?

I wanted something practical. Not just a skill, but something I could actually turn into money. Baking felt like something people would always need, so I knew if I got good at it, I wouldn’t struggle to find customers.

What was the very first income you made from baking like?

It wasn’t much, but it meant a lot to me because it showed me that this thing could actually work. Even though most of the money went back into ingredients, it gave me confidence.

At that stage, did it feel like profit or just survival?

Honestly, it felt like survival. Most of the money I made went straight back into buying ingredients. It didn’t feel like I was earning, it felt like I was just trying to keep the business running.

How were you funding the business at that point?

It was a mix of whatever I could gather. Sometimes I used my own money, sometimes support from home, and most times I reinvested everything I made. There were times I didn’t even touch the money because I knew I needed it for the next order.

When did things start changing for you?

When I started getting orders from people I didn’t know. That was when I realized it had gone beyond just people around me supporting me. It meant my work was actually good enough for strangers to trust.

What kind of jobs really boosted your income?

Catering jobs and big birthday cakes. Those ones require more effort, but they bring in more money compared to regular small orders.

What’s one job you’ve done that really stood out for you?

There was a time I handled a catering job for an event on campus, and it was more work than I expected. I had to plan everything, cook in bulk, and still deliver on time. It was stressful, but it showed me that I could handle bigger jobs than I thought.

Do you feel like people overestimate how much you actually keep?

Yes, they do. From the outside, it looks like you’re making a lot, but when you subtract ingredients, transport, and everything else, the actual profit is not as much as people think.

Have you ever taken on a job that didn’t go well financially?

Yes. I once underpriced a job, and after buying everything I needed, I realized I didn’t really make anything from it. It was frustrating because I put in a lot of effort.

What did that teach you?

It taught me to value my work properly. If you don’t price well, you can work so hard and still have nothing to show for it.

Have you ever had to borrow money for the business?

Ah yes, I borrowed money from a friend when I didn’t have enough to get ingredients for an order. I didn’t want to cancel, so I felt like I had no choice.

Did that decision go as planned?

Not really. The job didn’t bring in as much as I expected, and I still had other expenses. It became stressful because I had to think about paying the money back.

What made that situation difficult for you?

It was the fact that it was someone I knew. It wasn’t just business anymore, it was personal. That made the pressure different.

How did you eventually handle it?

I had to cut down on spending and take more orders. I just stayed focused until I cleared it. It wasn’t easy, but I didn’t want to stay in that situation.

Would you borrow money again for your business?

I’d rather not. I prefer to grow at my own pace now. That experience showed me that borrowing can solve a problem temporarily but also create another one.

Balancing school and business, what has been the hardest moment for you?

There was a time I had to bake overnight and still prepare for a test the next day. I was exhausted, but I didn’t have a choice. Moments like that are really tough.

Have you ever felt like giving up?

There are moments where it feels overwhelming, but I remind myself why I started. That keeps me going.

How do you manage your money now compared to when you started?

I’m more organized now. I separate money for ingredients, transport, and profit. Before, everything was mixed together.

Do you follow any kind of budget or structure now?

Yes, I try to. I don’t just spend randomly anymore. I already know what certain money is meant for, so it helps me stay in control.

How were you able to save up to ₦950k?

It’s been consistency. Even when it’s not convenient, I still try to put something aside. I’ve learned that if you don’t save intentionally, the money will finish.

What’s your relationship with money now?

I see it as something that needs to be managed carefully, not just earned.

What are you working towards next?

I want to expand beyond campus and take on bigger jobs. I also want more stability so I’m not constantly balancing everything at once.