Business Ideas for Students in University: Seven Suggestions
Molly Hitchens studied business for years before launching her career as a journalist and analyst specializing in original and innovative business planning. She shares her expertise through her work with The Idea Trader as well as through in-person speaking engagements at universities around the country.
Are you business savvy? Do you find yourself mostly idle in college? Why not venture into business? There are many business ideas for students in university that you can start with minimal capital.
In this article, we will discuss the most practical business ideas for students in university right now. Let’s get started.
Do you have content that appeals to the masses? Blogging is one of the business ideas for students in university that is easy to start. It not only improves your literacy skills but also establishes your online footprint, which is key for any business once you leave are out of college.
For starters, you can use several free blogging platforms. Once you start earning some income, you can then upgrade to a premium-hosted platform.
Organize your videos, podcasts, links, and articles and share them with your friends on social media or with colleagues at school.
Possible income streams from blogging include:
- Advertising (pay per click ads, cost per 1000 impressions ads, Google Adsense, and private ads)
- Income from affiliate programs
- Offering services that you get paid for. We call this freelancing. You can use your blog to market these services and earn trust from your customers. Alternatively, you can sign up on third-party platforms and source for clients at a small commission fee.
The skills currently being outsourced on various freelance sites include SEO, web content writing, data entry, market research, social media management, graphic design, computer programming, and web development.
Finally, use your blog to write sponsored posts, test and review products and services, and sell sponsorship spaces.
How often do you frequent YouTube or Facebook? Do you remember that time you were not sure how to maneuver a particular task and you searched for tips on YouTube?
Similarly, do you have an influencer that you follow for general advice or reviews before you make a purchase? We call that influencer a vlogger. You too can become one and earn plenty of money on the side.
Statistics show that today, many people rely on influencers to make many of their decisions.
Vlogging is an alternative to blogging for persons who enjoy watching videos instead of reading text. They comprise of short videos of varying niches including personal journals, life hacks, reflections, product reviews, and debates.
Apart from YouTube and Facebook, you can also vlog on d.tube, Vimeo, Instagram, Daily Motion, and Flickr.
Income sources from vlogging include ad revenues and brand sponsorship.
To start a vlog, you will need a high-quality video recording device. For now, you can start from your smartphone and then later invest in a high-quality video camera. Create your channel and build your subscriber base. The most successful vloggers post high content videos on a regular basis.
Personal Errands Service
Is your campus located in a densely populated town? Do you own a bike? Why not start a personal errands service? Use your bike to get supplies from retail stores to pharmacies, schools, and private homes on time.
Such a service saves your customers the time they would have otherwise spent in traffic.
A personal errands business requires adequate planning. You'll need to get licenses and permits ahead of time.
But first, create a business plan that shows profitability projections for the next five years. Once you start your business, maintain proper books of your accounts. To manage your orders for the day, create an online platform so that your clients can book services online.
Local Tour Guiding
Are you an outdoor person with a vast knowledge of your local attractions? Do you enjoy interacting with people from diverse cultures? Are you an excellent storyteller? Consider becoming a local guide.
Local tour guides are familiar with local culture and history. They often help people on vacation see the sights.
They also advise those planning their travel expeditions concerning the best places to visit, what to expect, how to be safe, and the Do's and Do Not's for that particular region.
To become a local guide, you need to invest some time in sharpening your knowledge about your local area. You also need to get proper licensing from your local government office. Initially, practice the art of being a tour guide by taking your friends and relatives on short tours.
If there is a subject or course you always ace, consider offering lessons to your struggling college mates. Research your topic of interest and plan the time you intend to allocate towards your service. Prepare the relevant teaching materials including slides, ebooks, and videos.
In addition, make yourself available online for follow-ups and live private lessons.
Pursuing business ideas for students in university that assist you to concentrate on your academics as you make money ensures you do not neglect your own studies.
Use your tutoring service to cross-sell other services such as resume writing and research. Summer is the best time to start a tutoring service.
If college courses are too difficult for you, you can also tutor kids online. And not just in your neighborhood but globally. Teaching English to Asian kids is a top seller on platforms such as dadaabc and VIPKID.
If you have excellent typing speed and you are a good listener, start a transcription service for your college mates. If one of your colleagues misses a class, offer to convert his/her audio-recorded lesson into a word document for a fee.
Professionally, areas of transcription include medical, legal, and academic. Learn an additional language to expand your clientele base. A transcription service is one of the business ideas for students in university that is not restricted by time.
Do you have an eye for details? Do you enjoy reading? Essay proofreading services would be your best bet.
Proofreading entails going through writing (articles and academic essays) and checking for typos, grammatical errors, proper sentence structuring, and other constructive critiques based on the supervisor’s instructions.
There is virtually no startup cost in offering a proofreading service. However, you need to understand the various styles of writing and be able to move from one style to another accurately.
This business has the potential to grow after you finish your college studies. You can include proofreading resumes and cover letters, business proposals and reports, legal summons, and any other formal documentation.
Adopting business ideas for students in university provides an excellent platform to exercise your business prowess before you kickstart your career. Some major businesses were born out of college business ideas.
Facebook, Dell, Reddit, and Federal Express are some of the well-established companies founded by college students. What are you waiting for? Start yours today.