It’s a few months after my graduation from Delta State Polytechnic, Ozoro and as a potential NYSC Member, I had to go for my clearance so I could be posted in a few weeks to come. On my way to the campus, I decided to talk a lil stroll across the street and then came to a point that had been a mini forest in the past.
The plot had been cleared with a gigantic mansion built on it. A hostel. Hostel business is one of the most profitable investments ever made by the smart persons in the Nigerian society. This is because you could make a lot of money on a yearly basis from hostels since new students are admitted yearly.
The truth is that hostels are the most rewarding businesses especially when they’re located around the campus. This is because a hostel located close or near the campus will often be priced more than that built miles away from the campus.
The fact is that there is a high population of students in the polytechnic since it is among the best polytechnics in the country. It is considered the best because it has all it takes to breed the best students for the country and for this reason, every parent wants his/her daughter to enroll in the school for an academic excellence.
The school and schools in the country are known for over population and for this reason, policies that would permit the construction of hostels around the polytechnic and other higher institutions in the country by individuals or investors has been enacted and a lot of these opportunities are welcomed by many. Apart from this, another reason for this is mainly due to the fact that most hostels in Nigeria’s higher institutions of learning are often over crowded. And so the need for more hostels to occupy the growing number of students trooping into these institutions.
The result of the policy enacted by the government is a positive one. Today we have banks, cooperative societies investing in Hostels around university, Polytechnic campuses within the country. For instance, Delsu has the Oceanic Hostel which I guess is one of the best hostels in DELSU apart from those owned by individuals, DSPZ MPCS Also owns a hostel along Campus 2 Road in Delta state Polytechnic, Ozoro. We also have a large number of privately owned hostels in the school communities in the country,
The thing about investing in this hostel business is that you do not need to have millions in order to start or own a hostel, you do not need acres of land to erect a hostel and you definitely do not need a professional engineer to construct for you. Just imagine what it would be like to have 12 bed sitter apartments where every occupant has to pay N65,000 annually. That’s a lot of money coming from a small building and this is certain to come every year because students must live in a hostel.
Let me also hit on the advantages of having a hostel in one of these campuses in the country.
1. You get to enjoy a quick return on your investment
2. You won’t need to knock on doors to demand for rents
3. Hostels are in high demand provided the price is affordable and the rooms are worth the price.
4. All you need to get a hostel erected is a piece of land with your C Of O, a good capital and a good workmanship.
These are the usefulness of investing in Hostels and the benefits you get to enjoy as a hostel owner.