Business ideas for college students ? Are you an enterprising college student and you want to know the best business ideas for college students to begin in school? Then, we have collected for you the best entrepreneur ideas in this article that will work for you.
Nowadays, the cost of education in college is getting more expensive. As a student, you have to buy, or pay for several things that range from research projects, practical, field trips, textbooks, handouts and even accommodation. These expenses are unaffordable for many students as majority of them either depends on their parents who cannot cater for all their needs or are self-sponsored.
Why become an entrepreneur in college?
The fact that the tuition and other fees in college are increasing with time is the main reason for college students to start businesses. In earlier days, college students could easily secure part-time jobs. However, the current bad economy has resulted in fewer jobs, automation with technology, stiffer competition and constant changes within companies. So, the only key for you is to accept the reality of the new economy and be ready to survive in this harsh economy.
Luckily, there are many things that a student can do to mitigate these high costs. Starting your own business is one great option. Bill Gate and Mark Zuckerberg are among the notable urban legends who benefited by starting their business at college.
What you should consider
Before choosing a side business to venture in from the available business ideas for college students, there are various key factors to consider.
1. Start-up cost
You should look for a simple business idea that requires minimal initial costs. Otherwise, you may end up incurring addition debt on top of the student loan debt burden, if you have one. You can focus on those ideas that can work with the existing capital. You can achieve this by targeting a concept that utilizes your existing skill and resource.
childs play business ideas for college students
2. The importance of your studies
Education attainment is the primary reason you are in school and thus, must remain your priority. Keeping this in mind will help you to look for a business idea that does not consume much of your time and which is relatively easy to manage. You need to consider the nature of your degree, its subject matter, academic level as well as the minimum amount of time that you must invest in your study.
3. The quality of your product or service
You should aim to deliver a product or a service that meet your customers’ expectations. This is the only way to make your idea sustainable. As a result, your customers will actively give referrals to others that will ultimately encourage them to use your service.business ideas for college students
4. Market research
It is critical for you to conduct a thorough market research before you commit to a certain business idea. You should evaluate each concept separately; both in term of your target market and how you intend reach your chosen market. Do forget to access the level competition relating to your idea.
Business ideas for college students
Here are five business ideas for college students that will not only help them through college life but also serve as a foundation for future entrepreneurial endeavors.
i. Starting your own “mini” real estate agency
Starting an estate agent business especially near a university can be the best option for you. Students always create a business opportunity as they struggle to look for quality accommodation near their college. On the other hand, house owners usually spend a lot of money in hiring middlemen to help them let their properties.
Why is an estate agency right for you?
As a student, you are in a better position than non-student agents to find houses that are more appealing to your fellow students. Because of your student identity, you can know what features the students are looking for in a house. Besides, students will be more than will to promote your business and to be honest with you. These factors give you a competitive advantage to thrive in this business.
All you need to start this business is some dedication. You can rent a small office, do it online or even in your room. You can dedicate you free time to searching for vacant houses around the college neighborhood and either post them on your website, or list them on flyers together with your contact details. Then, people who are searching for accommodation will use this detail to get in touch with you.
ii. Expand upon a hobby
If your good in a particular field or skill and you have a passion for that, then, expound on that. For example, you can become a personal coach for a game that you are good at, which is a wonderful way get cash at college. Many people outside the college, as well as some of the student, are seeking for personal coaches to train them a new sport. Some just want to burn excess calories while others want to utilize they idle time to learn new sports for the fun of it. These hobbies may include:
• Swimming lessons for kids
• Trainer for tennis, football, or any other sport.
iii. Becoming a tutor or teacher
You must have some subject that you are excellent at, whether it is math, science, or music. You can get a great reward opting to be a tutor to high school students. You can achieve this by creating your own business cards and fliers and distribute them to the high-income high school neighboring the college. You can also use connections from your previous high school to reach the students if they are locally available. If you do good work, you can ask for referrals, and then you can watch as they grow.
iv. You can offer services to local businesses or residents
There are many services that you can provide within the neighborhood of you school. There are many college students who have established the dog-walking businesses, car detailing businesses, window washing businesses, and landscaping businesses, among others. So, you have a chance to become the next Bill Gate by just identifying a product or a service that people want to buy and then sell it at a profit.
In conclusion, colleges offer students an opportunity to learn practical business skills along with a more traditional academic education, despite the expenses involved. This article will hopefully give them the business ideas for college students that will help them get opportunities that allow them to accumulate wealth as well as to explore their passions.