Today, college students face financial challenges due to high tuition and fees. For this reason, starting a financially stable business while studying is always an option.
Generally, students are at a time in their lives when they are free to explore new ideas and possibilities. This supports the common management strategy of failing early to achieve long-term success.
In 2019, Forbes reported on a 19-year-old Northeastern University student who built a million-dollar empire from scratch. This was a few years before we released our list of Student Entrepreneur All-Stars.
But if there’s ever a perfect time for students to start a business, it’s now. Here’s a curated list of business ventures that students can use to bolster their finances.
Development of Apps and Websites
Web app development has shown to be a profitable endeavor for students throughout the years, particularly for those pursuing related areas. A website is necessary for almost all businesses and individual entrepreneurs.
With a multitude of open-source technologies at their disposal, developers can enter the area of website building with a comparatively low barrier to entry. Furthermore, there’s still a chance to develop hundreds of new apps to address common issues.
You can begin using a beginner-friendly programming language if you have no prior experience developing apps. After that, you can further your learning experience by enrolling in a few online courses and attending webinars. You will eventually begin creating straightforward apps that can resolve common issues.
Consulting
Consulting is one of the most delicate professions in the business world. However, all it takes is a few months of expertise and dedication.
Today, consultants are known for providing expert self-improvement advice to people and companies. These help them set goals, create plans and achieve ambitious objectives for the coming years.
Starting a business as a student allows you to build a career in your specialty by working with individuals and small organizations. With a few years of experience, you could decide to move into the profession by becoming a career counselor or IT and technology consultant.
Design
Businesses and organizations often need graphic designers to develop visual branding for a variety of applications, such as signage and marketing materials. As a college student, knowledge in areas such as logo design, typography, and web design can greatly improve client acquisition and portfolio development.
Additionally, starting a business in this field can help you decide on your major and educational path. Here are some design business ideas:
- Graphic Design
- Clothing and Fashion Design
- Software Development and Design
- Web Design and
- Interior Design
Freelance Writing
As an experienced writer, freelance writing is a great way to earn money while continuing your education. For years, channels and businesses have been utilizing freelance writers to create scripts, content, and blog posts.
College students can gain valuable experience that supports their long-term career development. Many platforms, including Upwork and Fiverr, provide a safe environment for businesses and freelancers to connect and collaborate.
E-commerce
Starting an e-commerce business is another option that can be easily done from a storefront, dorm room, or office. Students can easily create an online store using common e-commerce tools.
The key to running a successful business is making people willing to buy your products. Moreover, the e-commerce industry is one of the fastest growing sectors in the world today. Below is a graph that shows the annual sales growth of the e-commerce industry.
Social Media Marketing
Contrary to popular belief, social media has grown beyond its primary purpose of communication. It now helps businesses and entrepreneurs reach their desired audience. If you have a little experience in sales marketing using social media, consider starting a social media marketing business.
Students can create sponsored posts, infographics, ad campaigns, and other exclusive content to help customers achieve their goals. In the long run, you can achieve your goals even after improving your financial situation.
Tutoring
Teaching is one of the easiest ways for students to make money. If you are knowledgeable in a particular subject, you can start your own tutoring business and help other students. Tutoring is easier if you work on related subjects.
But here’s the great thing about this job: As a tutor, you can charge per session or per hour. Moreover, you can easily advertise this kind of business in schools, public libraries, and community centers.
Conclusion
Furthermore, college students can explore all the stores on this list to fulfill their financial needs. Eventually, they can launch a startup or become a professional offering expertise in various fields. This alone will be a solid foundation for their personal and professional growth.
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