College is an amazing stage in our lives; freedom, new friends, and new adventures. This comes at a cost that’s hefty to most sponsors. It has forced students to adopt several strategies to alleviate the burden of tuition fees which can run in excess of $23,000. To sustain this figure, it will require a full-time gig if the student plans to settle it on their own.
Not all businesses and companies require significant amounts of resources to start and run in order to make a profit. Some require minimal time and other resources to start and operate. Some businesses that have been started by students, most of the time lacking resources both in time and capital, started as small businesses and now are the biggest multi-billion dollar enterprises in the world; most notably Facebook and Snapchat.
The fuel force of students is passion. College students have the passion to execute ideas that they believe can work. Most advancements have come out of colleges and universities all over the world. Coupling this with energetic bodies and spirits, students can take advantage of this to ensure that their businesses take off and are successful.
All students in college can engage in essay writing services and earn extra income. Writing offers minimal restriction for students as writing is the essence of being in college. If you know how to write a definition essay, you can log into online writing services and register for membership to start writing immediately. College students should take advantage of their stay in college cover to launch their business ideas, 5 of which we shall discuss in this article.
Business #1 – Computer Repair & Electronic Reselling
This is a very easy to start and progress the business with a good earning potential. Though it requires you to have good computer and electronics skills, it’s quite easy and enjoyable if you are passionate about IT.
It’s highly recommended for computer science and engineering students who are at an advantage of having necessary knowledge that they can practice here. It will also serve as a good avenue for gaining experience in your preferred career option.
Computer repair technicians gross an annual earnings median of $48,620 whereby junior technicians’ salaries range around $28,990 going up to $81,260 for senior technicians!
Though easy to start, it’s a bit technical to get into as you start with small and venture into more complex and challenging tasks and duties. Repairing computers will require that you obtain some tools and gadgets which will aid you in your projects such as:
- Personal laptop
- Screwdriver sets
- Soldering guns
- Dust blowers
- Backup hard drives
- CDs of various software especially operating systems and antiviruses
- USB & ethernet patch cables
- Electronic multi-tester
Buying and selling electronics for a profit is also a good business in college, especially to fellow students. Observing current trends in college will help you to identify which gadgets you will sell. The most trending gadgets include laptops, smartphones, tablets, TVs, PCs and home theaters.
Business #2 – Website Design & Mobile App Development
Website and smartphone apps development is becoming a mandatory marketing protocol for small and large business enterprises. This has led to the increase in demand for websites. College students are at an advantage to capitalize on this opportunity and make some good cash. Smartphone apps development is also becoming a good source of income for students with programming skills.
Both professional websites and mobile apps development require good programming skills. Programming students are at an advantage since they will or have gained knowledge and skills vital for this business.
This business will require minimal resources to start. All you will need is your laptop and some marketing which you can do online. Once you have proven your skills, gigs will be coming to you.
The average earning in the US for a web developer has a median of $66,130 per year. For entry level and junior web developers, earnings are much lower at an average of $38,222 and senior web developers pocketing up to $119,550 annually. For mobile apps developers, they pocket an average earning of $106,000 annually with entry level slightly lower by a 24% difference.
Business #3 – Become a Virtual Assistant
A Virtual Assistant (VA) is a professional idea gaining popularity as the online frontiers expand. For busy business owners, a virtual assistant is handy in ensuring that the business is running smoothly by handling the routine scheduling & travel arrangements, invoicing, research, clerical and technical tasks. The upside of virtual assistants is that they work remotely, therefore, they can be located in the same geographic or on the other side of the globe.
Virtual Assistants are becoming vital to busy bloggers who have little time to spare in between their busy schedules to effectively manage blogs on their own. Virtual Assistants can handle duties like administrative tasks, content creation, and social media management. You can access platforms online through which you can get VA gigs and you can join VA support forums on social media networks like Facebook to expand your chances of landing a gig.
The internet technological advancements like VOIP and remote desktop sharing have enabled Virtual Assistants to be able to handle more complex tasks and for many more clients. More and more services can be delivered by VAs over the internet across the world.
On average, VAs’ annual earnings range around $36,844, with entry level earnings ranging around $14,500 and peak out at a high of $78,800 annually.
Business #4 – Niche Blog
Identify one thing you are good at that can attract a following online and make money out of it. Ensure that it’s something you are really passionate about and start creating content for it. Let the reader see your passion in it. This will attract more readers to your blog and you will have the opportunity of trying out affiliate marketing.
Affiliate marketing is basically pitching to another company. You can start by inserting links to other companies’ pages on your blog which in turn you’ll earn a commission from. This doesn’t happen in the short term, you must generate enough traffic to your blog first.
Let’s say you are passionate about cars, you can start a blog for this topic, generate content like videos and images and enhance it through social media platforms. On your new site, you can write reviews about certain models of cars that will draw enthusiastic readers. You can recommend certain brands and models and even post video showcasing various attractive features.
You will set up affiliate accounts for the companies you will be lobbying for. You will include links in your post for various existing and new products, which if a client will click on and eventually purchase the product, you earn a commission.
Bloggers take home average annual earnings of $41,694 with entry level making an average of $14,500 and top earning for experienced bloggers reaching as high as $85,300.
Business #5 – Running Errands and Transportation Business
Delivery and transportation business is doing quite well. This is especially so because of developed mobile apps making those in need of these services access them with ease. Transportation is one sector that has undergone a lot of transformation over the years. Being a student, you can make some cash by offering taxi services using platforms such as Uber and Taxify, although the latter has limited presence globally. Uber drivers make decent earnings and you can do it part-time.
People, on the hand, have grown so busy that they very little or no time to run personal errands. Aga
in, mobile and website platforms are available for individuals to get people to run errands on their behalf. Some of the services that you can offer include laundry services, making shopping deliveries, house cleaning, and messenger services, among others.
Although delivery and transportation can help you raise some cash, it poses a threat to your studies if you don’t have the proper time balance. Therefore, make certain that your work and classes do not clash.
On average, running errands can generate average earnings of $23,875 annually. Entry level and junior errand business can make about $16,630 while experienced errand businesses can reach up to $31,850 every year!
College students are encouraged to start a business as soon as they can once they are settled in college to at least prepare for after college endeavors. All factors favor their business whilst still offering a safety net in case things don’t work out. Starting a new business can be quite a challenge even for experienced entrepreneurs, so for students, it’s twice a burden. Consult widely about how to run a business successfully and never stop searching for information and tips on how to improve the management of your new business.
There are other many more business ideas and actual businesses that are currently being run in colleges and are significantly profitable. Try out as many ideas as you can and you will surely hit the success jackpot someway.
About the author
Kevin is a professional educator and a private tutor with over 8 years of experience. He is also a content writer for various blogs about higher education, entertainment, social media & blogging. During his off time, Kevin enjoys traveling and cooking. Feel free to connect with him on Twitter, Linkedin & Google+.