One of the most important decisions you can make is starting a business while in college. There are many opportunities and advantages of attempting this feat that increase your odds for success and align you with your career and life goals.
However, there are few things you need to consider before starting a business in college such as institutional policies, free time available, your capital size among others.
Ensure you sort the legal issues pertaining your business idea and create your own unique brand while keeping your budget at the least minimum level.
Since setting up a business in college has one large challenge, capital, there are a couple of ways through which you can navigate this problem and achieve your goals.
Applying for entrepreneurship prizes and scaling your ideas to less capital-intensive ventures can be of great help to your plans. You should also learn more about business idea through research, colleagues, family, other entrepreneurs or enroll in an institution that can help you establish your start up.
This article is meant to help you with few top business ideas for college students that are applicable in a college environment.
#1. Online Based Businesses: YouTube blogging, Travel exchange websites, Making eBooks, Online advertising
Online based businesses are one of the easy business ideas for students to establish and manage since they require less capital and technological infrastructure. YouTube blogging, travel exchange websites, making and leasing audio and eBook versions, becoming online advertiser etc. are some of the possible online businesses that are manageable for college students.
These ideas fit perfectly in your college schedule as they can be done at your own time with minimal interference with your academic timetable. They also need a laptop and a Wi-Fi connection thus making them relatively cheap than other potential business ideas.
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For YouTube blogging, you just need a unique video content idea and you work your way to earn through Google AdSense.
Travel exchange site requires bundling budget flights for travelers at a commission which can be done in the comfort of your college room.
You can also harness the power of social media and personal network to become an online advertiser. You can also combine online advertising and travel exchange for more income with fewer resources.
You can also venture into making audio and eBook book versions and commercialize them whilst avoiding copyright infringement.
All these ideas are easy to set up and manage while in college and can go a long way into earning bucks for you if you strategize on how to implement them.
#2. Home-Made Products Business
You can also start businesses that tap into the school community as your target market. Starting a home-made smoothie or sandwich business can be a profitable undertaking if you invest wisely.
It is even easier for the kitchen enthusiasts who have unique recipes or find fun in preparing meals as you can turn this hobby into an income generator.
You can set up a stand strategically within the college to sell your products. You can enlist the help of a colleague to man the stand for you while taking lectures or preparing more to meet the demand.
#3. Photo and Text Businesses
Alternatively, you can also start taking and selling photos within the school which is a cheap investment as you just need a good camera and technical skills to take good shots.
You can also start an editing and proofreading business to help refine and polish your colleagues’ essays who need academic assistance.
One advantage of these business ideas for students in college is that it helps them learn more while earning. It is the cheapest business you can do which is in line with your academic goals.
#4. Working with Others
You can also earn money by working with other students. Starting a venture to organize student events can be relatively cheap but time intensive.
You can use your free time in college to organize student events for a fee. If possible, you can transcend beyond the college and team with other event organizers but you must be careful not to affect your academic performance as this endeavor is time and travel intensive at times.
You can also become a coach of your favorite sport. This however needs a lot of practice and learning to perfect. Working with peer groups can also be challenging thus you need great leadership skills to lead your team. Event organizing and coaching can be time intensive and require proper time allocation to avoid interfering with your academic goals and calendar.
Coaching can be extended to other activities such as modeling, dancing, and public speaking. If you have knowledge in any of these activities, you can easily make money out of them while in college.
One benefit of coaching is it helps you sharped your skills in that field while earning from it. Finally, doing a delivery business for your colleagues within and without the college can also be an easy task that can earn you money.
Concisely, college can be a perfect ground to test and launch your entrepreneurial ambitions. It is a form of closed market economy that if well planned can generate huge demand for your products and services.
The aforementioned business activities are some suggested business ideas that you can zero in and establish while in college.
Most great companies like Facebook were born in learning institutions and if you manage your startup well, you stand to earn and develop your business past your college years.
However, it is imperative that these business activities do not affect your academic goals and objectives. Thus, finding a perfect balance between academics and business is very important.