Launching a small business while in university can be a fantastic opportunity, as evidenced by the successes of student entrepreneurs like Mark Zuckerberg. It shows that students are capable of starting and managing their own businesses, even corporations.
With 40% of small businesses turning a profit, there’s no need to worry about embarking on a startup. The key is to find the right idea that can be capitalized upon. In this article, we will explore simple and affordable business ideas that are both short-term and long-term profitable for students. Let’s dive right into it.
- Writing Service
With professors assigning numerous essays to students, offering essay writing services like DoMyEssay Review can be a lucrative business idea. Many students seek professional writing assistance, making it easier to attract clients from your own university or faculty. This business, such as DoMyEssay Review, can even be continued after graduation, potentially growing into a million-dollar company with continued growth and innovation.
If you excel in a particular subject, starting a tutoring business can be a great way to earn income. You can charge an hourly rate ranging from $10 to $100, depending on the subject. Some schools support and promote tutoring businesses, with professors providing assistance and certain institutions even creating databases to help students find tutors easily. Competition may arise, especially in subjects like math, so it’s essential to offer a unique value proposition.
- Campus Podcast
Launching a podcast centered around campus discussions involving teachers, students, and university stakeholders can be a valuable long-term business idea. If scaled properly, you can attract advertisers, including writing services or other businesses targeting university students. Podcasting equipment is relatively affordable, with a budget of $200 or less. By consistently producing high-quality content and building a sizable audience, sponsorships and a career in the entertainment industry may be within reach.
- Sell Used Books
At the end of each semester or school year, students often have books they no longer need, which typically go to waste. Instead of discarding them, you can gather these books and sell them at discounted prices to fellow students. You could even offer a small reward to those who turn in used books, allowing you to sell them at a higher price and acquire more inventory.
If you own a decent camera, you have the basic equipment needed to become a photographer. Starting a small-scale photography business by partnering with event centers as their official photographer can generate good income. As you expand, you may even evolve into a promotions company, opening up further opportunities.
- Design Services
The demand for logos, flyers, website designs, and product packaging is constant among startups and businesses. Students with design skills can offer their services in these areas. Establishing a website would also expand the reach of your services, as it allows potential clients to easily discover and engage with you.
- Web Development
Every business requires a website, making web development a valuable skill for students. Learning how to build websites through coding has become increasingly accessible, with numerous free resources available online. Alternatively, website design tools can be used to create websites without coding knowledge. With the right motivation, nothing can hinder you from acquiring this valuable skill.
Blogging remains one of the most popular businesses among students due to its accessibility and potential for quick monetization. If you have a passion for a subject that appeals to a wide audience, starting a blog can be an excellent choice. Whether it’s movies, anime, sports, or even documenting your school activities, find an audience and monetize your blog over time.
- Laundry Service
One task that many students despise is laundry. Capitalize on this by offering a convenient laundry service, including washing, drying, ironing, and delivery, at a reasonable rate. While targeting students is a natural choice, consider expanding your clientele to include busy professionals or parents who struggle to find time for laundry. By catering to a broader audience, you can establish a sustainable long-term business.
- Play Cupid
Taking inspiration from Mark Zuckerberg’s initial venture, consider creating a site or app that connects single individuals within your university. This approach led to the birth of Facebook. The advantage of such a business is the endless supply of potential clients. However, be prepared for competition if you decide to scale it up.
There is no definitive answer to the question of the best business for a student to start. That’s why we have compiled this list of the top startup ideas for students in 2021. Launching a small business as a student may be challenging and demanding, but the rewards include practical skills, valuable experience, and potential financial gains.