Now has
never been a better time for tertiary students to start a business. Much more than the graduates of the past
couple of decades, current students need to be prepared to find ways to supplement
their incomes. Let’s face it; the cost of living continues to increase every
year and the job market is a tough place to break into, making it harder for
students to make ends meet while they are studying and to find a job after
they’ve finished.
Launching a
business while you’re studying sets you up for success. Here are ten business ideas you can start
while you’re studying that shouldn’t cost you an arm and a leg to set up. You can use one of these ideas or come up
with your own. Some of them may work
better than others, or may not work at all, depending on your personal
circumstances. So choose wisely, and remember
to adjust quickly if the business you start isn’t growing.
Before we
start, let’s look at some quick tips for creating a successful student business:
* Innovation
is good but it can also be overrated.
Don’t feel like you have to come up with the next big idea. The main
idea is to start a simple business that generates a profit. And that’s the main idea.
* Pick an
idea that has an immediate and obvious customer base that needs or strongly
wants what you plan to sell. Ask yourself if there is a demand for your product
or service.
* After your
initial investment, don’t put any more outside money into the business. That’s your test for whether you’re
succeeding. The business needs to pay
for itself and pay you. Once you start,
the business should generate enough for you to reinvest into the business and
then begin to pay yourself. If you see
things dwindling, figure out whether you need to adjust prices, offerings, or
do more marketing and selling. Pay
attention to customer inquiries and demands. They will lead you in the right
direction.
* Remember
the business is a great experience but it’s not the main reason you are on
campus. You are there to get a great
education. So develop discipline and
time management skills that will allow you to go to class, get good results and
still operate your business in your free time.
Our 10 student business ideas:
1. Tutoring service – if you’re attending university or
college on a scholarship or bursary and know a required subject very well,
consider start a tutoring service for local elementary or high school students
who want to get into a good university or college like you.
2. Staffing service specializing in
internships – start
an on-campus staffing service where you help local or national businesses
connect with the best students for internships and help students who want to do
internships find the best opportunity.
3. Personal training service – are you athletic and into
sports? Think about starting a personal
training service for students wanting to get fit and active.
4. Graphic arts and design services
for presentations and papers –
if you enjoy graphic arts and presentation design and you’re good at it, think
about offering these services to students (and perhaps lecturers too) who want
to jazz up their research and reports.
5. CV writing service – are you good at finding the best
angles to present information? Start a CV writing service helping students put
their experience in the best possible format and phrasing to attract interview
and career opportunities.
6. Hair styling and grooming
services – provide
hair cuts or hair styling as a mobile hairdresser or stylist.
7. Babysitting service – if you know how to look after
children and you’re responsible and reliable, starting a small au pair business
could be an easy way to make extra income.
8. Bookkeeping service – if you’re studying accounting and
have a love for numbers offer to keep books for a few small local businesses or
find customers online.
9. Photography and video services – if you have a great eye for
composing scenes and images consider starting a photography and video service.
You can offer your services to students and faculty, take photos and videos of
campus events and help local businesses produce and post videos online.
10. T-shirt company – really cool t-shirts just never
get old and they’re the standard uniform for lots of college students. Come up
with neat designs or funny sayings or create custom shirts for on-campus
organisations and find someone to print the shirts for you and you’re in
business!
Are you a
student thinking about starting a small business? What do you think about these
ideas? What are you excited about, or maybe scared about? Tell us what you
think in the comments section below!
