With many graduates struggling with unemployment and under-employment, current students can benefit greatly by tapping into some great business ideas for students, while still pursuing their educational goals.
By earning additional income and developing a range of entrepreneurial skills, students can reduce their debt liability and improve their earning potential for the future.
In this article, we will be looking at some business ideas for students who are looking to reconcile both their school work and business activities together.
What student entrepreneurs should consider
Before trying to create a secondary business or income stream as a student, there are several key factors to consider, which includes the following:
1. Start-up costs
Your business idea must be simple and should require minimal start-up costs, otherwise you will be charged an additional debt. Given the debt burden of student loans, it is necessary to avoid any concept that requires additional loans and focus exclusively on those that can be financed with existing capital.
2. The importance of your studies
As a student, the level of education must remain your priority. With this in mind, your business idea should be relatively easy to manage and not consume a significant amount of your time. This can be measured by the nature of your degree, paying particular attention to the topic, the academic level and the amount of time you need to invest in your studies.
For example, if you have a time-consuming school schedule, launching a secondary business might not be a good idea at all. Or you can choose to start a seasonal activity, such as cleaning the pool, landscape architecture or shoveling snow to do during school breaks.
3. The quality of the product or service
Even if you are only managing a part-time business, paying customers require value for their hard-earned profits. Therefore, you must be able to provide a quality product or service if your idea is to be sustainable. For example, if you choose to provide a tutoring service, it is essential to offer lessons in thematic areas where you have a broad knowledge base. Otherwise, the service will not meet customer expectations and, instead of providing references, customers could actively discourage other users from using the service.
4. The importance of market research
Before engaging in any of these business ideas for students, you must conduct in-depth market research. Be sure to evaluate each concept individually, in terms of both the chosen market and how you intend to reach target consumers.
Another key consideration is the level of competition relative to a specific idea, as well-populated markets are much more difficult to obtain. Depending on the program and the amount you intend to earn, it is better to choose less popular markets where it is easier to penetrate.
Easy business ideas for students
With these points in mind, we bring to you some easy business ideas for students.
1. Tutoring and mentoring
Your innate skills and qualities are all negotiable, which means that they can be used to develop a vital income stream. By focusing on your knowledge base and specific areas of academic strength, you can offer a tutoring or tutoring service to students who may be struggling to reach their potential.
Start by offering your service to friends and colleagues on campus, after which your reputation will increase and allow you to benefit from referrals. Once established and earned, you can also try to advertise through both online and offline methods, including anything from the production of promotional flyers for campus bulletin boards to social media marketing platforms like Facebook, Twitter and Pinterest.
2. Freelance as a writer and blogger
In the burgeoning freelance market, the demand for creative skills continues to grow. Being a freelancer as a writer or blogger can therefore be particularly profitable, especially if you focus on commercial copywriting for large organizations.
While the market is extremely competitive and probably even more so in the coming years, you can still succeed by putting the emphasis on the quality of your content.
Companies are increasingly aware that they need relevant and high quality content to market themselves successfully, so focus on writing in your area of expertise and using resources like Elance and oDesk to promote your service. These sites, along with Freelancer.com, adapt well to newcomers, as they boast a wide range of activities suitable for all levels of experience.
Simply create a core curriculum that shows the quality of your writing and your academic achievements and apply for jobs suited to this skill set. It may also be worthwhile to use these sites to search for competing service provider rates, as this will allow you to charge a fair price without losing ground in the market.
3. Sell your and review notes through online communities
If your goal is to maximize existing resources as a means of making money, then you should try to advertise and sell your academic work for research purposes. Sites like Gradesaver.com publish this content and allow its members to use it as a point of reference, while maintaining copyright so that people cannot claim the work as their own. The essays and notes completed during the review process are of practical value, especially if they are of high quality and reflect a genuine appreciation of the subject. These documents can then be sold to other students through various online platforms and create a passive income stream without further effort.
4. Create Websites And Sell Them.
You may find it difficult to do this work, but if you have researched a bit, you must have discovered that it is among the business ideas for students out there.
Previously, programming knowledge in HTML, CSS, PHP and other codes were needed to create a website, but with the advent of new applications, software and innovative platforms this became very simple. With WordPress, you can create web pages with a couple of clicks and optimally.
Learn to create a website and find customers who want to buy it for some purpose. It can be physical stores, schools, government agencies, or for yourself.
Remember that if you like computing and everything related to doing business online , you will know that this is an open door to a world full of possibilities.
You can go ahead and create your own website to create articles and reach that audience who need the service of a web programmer to set up their own page; There you enter.
You can charge between $ 50 and more than $ 100 per page , depending on the structure and complexity of the site. The price and the conditions you place with your client.
5. Create Videos And Upload It On YouTube.
Do you know that you can make money creating videos for YouTube? That’s right, millions of users upload multimedia files every second to the number one platform of reproductions; Youtube.
You will ask yourself: How is it that people earn money for just making and uploading videos? Well the answer is simple, through advertising, sales or affiliate products.
One of the best known ways is with the Google Adsense platform . This method does print ads in each video and by the visualization and click that visitors make, you earn money.
It’s that easy! But do not think everything is rosy. You have to work daily, be consistent and follow some strategy to succeed. I tell you that if you dedicate yourself to this, it will be an immense door where your business opportunity will be almost endless.
You will have organic traffic, users with private interests, secure sales, followers, among others. There are many points in your favor when you dedicate yourself to creating videos and being part of the YouTube community .
These business ideas for students can not only be used to earn significant income and reduce debt, but they also teach basic skills that can be applied in the current and future economy. Having the opportunity to start a business or market a valuable skill will improve your chances of earning once you graduate and will allow you to close the gap while looking for a profitable long-term job. Or you might decide to avoid the occupation altogether and build your business after graduation.
Do not become a slave to your student debt. Even if your academic studies are not focused on entrepreneurship, self-taught skills can help you earn a little extra money now and secure your future.
I recommend that you start today to venture into any of these business ideas for students and see the good results you will have at some point.
If you found this post exciting, then you can also check out the 28 Business Ideas To Make Money In 2019.