The vast majority of college students are under immense and unprecedented financial pressure. In 2020, it’s something most millennials simply accept as a harsh reality of life. The average college student has to juggle ludicrous student loans, rising tuition fees, and other educational expenses. And on top of all that, these young adults still have to feed themselves, pay for a place to live, and, well… survive! Most students simply put their heads down, study hard, and tell themselves that their degree they’re working so hard towards will provide them with more than enough money in the distant future. But what if you could be financially comfortable today?
History is littered with success stories of college students who have exercised their entrepreneurial muscles long before their graduation date. While you might not be as successful as Mark Zuckerberg, his story should serve as an inspiration to all college students, as it’s proof that you can change the entire world with one simple idea. Well, as it happens, we’re going to supply a few of those ideas for you. You might find that one or two of these small businesses inspire you, or at least sparks an idea in your mind.
Most of these small business ideas are specifically tailored to the pre-existing demands of a college student. What we mean by that is that you’re not going to have much time to run a business when you’re already overloaded with homework and essays. And before you even think about it – NO. You definitely shouldn’t drop out in order to follow some crazy entrepreneurial dream. At least, not unless you’re seriously convinced it will succeed.
Speaking of which, all entrepreneurs know that in every business venture, a significant amount of risk exists. Whether it’s large or small, there’s a possibility that your small business venture will fail miserably. That’s just part of the game. The point is, you never know what’s going to happen when you start a small business. Yes, it could fail, but it might also provide you with a much better income than working at Starbucks. And who knows, you might even end up being the next Mark Zuckerberg. That’s what makes entrepreneurship so interesting – anything can happen.
Event Promotion/Social Media Guru
Let’s start this list off with something fun. Almost every millennial these days has a strong presence on social media, but very few of them fully grasp how much money there is to be made in the digital world. College students in 2020 have grown up with social media, starting their accounts from a very young age. This means that many of them have a lot of followers, which in turn is an opportunity to make some serious money. If you’ve got a large audience, companies and brands will pay good money to access that audience, and this can become a small business where little to no work is actually needed.
But sometimes, a little more imagination is required to truly excel. For example, some students have used their familiarity with social media to create their own event promotion services. These students have contacted local venues and events which need help with promotion. Using their network of college students, they were able to help these local businesses advertise to essentially the entire college campus. And of course, these students take a hefty cut of the profits…
Create And Sell Virtual Products For Massive Profit
Speaking of profit, one of the most lucrative businesses you can get into these days is the sale of virtual products. Virtual products are an excellent option for anyone wanting to start a small business because they exist solely in the digital world. You won’t have to worry about storing inventory or having a physical storefront, and once you get this business up and running, you’ll enjoy passive income. This is a magic word for a lot of entrepreneurs, and it’s great for students who want a steady stream of income while they’re focusing on their studies while devoting essentially zero attention towards the business.
Digital products can take many forms, but two of the most common examples are eBooks and Apps. If you’re a skilled writer, taking 30 minutes per day and jotting down a few pages can leave you with a completed eBook before you know it. Fiction is especially popular, and there a few writers out there who make thousands of dollars each month from their books. You can self-publish, and there’s nothing stopping you.
The second option is an app, which can be created, coded, and sold on app stores. Obviously you will need a solid background in coding, but if you’re already learning these skills in college, then you’re all set. Alternatively, you can team up with a few fellow students if you’ve got an amazing idea for an app, but lack the technical skills to make it happen.
Earn A Solid Income Through Web Design And Development
Another way you can start a profitable small business on the web is through web design and development. Obviously, this will only appeal to those who are technically inclined, but for those who have the skills, the rewards can be quite attractive. Again, if you’re already learning these skills while in college, it’s a no-brainer. Start your small business, and you might even be able to get course credit for it. After all, you’re putting your skills to good use and learning real world lessons.
But even if you’re not studying web design, the general concepts aren’t that hard to understand. Sure, you can become a “full stack” web developer (someone who understands the front and back ends of a website), or you can simply become a wizard with existing platforms like WordPress or Wix. Most companies just want a good website – they don’t care how it’s done. A good tip would be to specialize in one particular field, and try to offer something that no one else can.. SEO knowledge is in demand, and it’s actually a very simple concept to learn.
Provide A Coaching Service To Your Community
Let’s say you’re more of a “hands on” kind of person, and computers aren’t really your thing. Don’t fret – there’s plenty of money to be made in the real world as well. One very lucrative option is a coaching or training business. College athletes aren’t too far off from being pros, and people are willing to pay top dollar to learn from athletes at the very peak of their game. Better yet, parents are more than happy to enroll their children in training programs, especially if they know that they’re being taught by a young athlete who can act as a positive role model.
This is a great choice for so many reasons. There’s obviously the “feel good” factor of helping young kids and giving back to the athletic community. But there’s also the fact that you can make a decent income from just a couple hours of work, leaving plenty of time to focus on your studies. Crunch the numbers, do some research, and figure out how much money you can make from a class full of children. If each child is paying 10 dollars an hour, and you have a class full of 20, that’s 200 dollars per hour. You can increase or lower your fee based on the competition and your rising reputation in the community.
Earn An Impressive Income Through Tutoring
Tutoring is probably the most stereotypical and common way for college students to make a little extra side cash, but there’s a reason this small business idea so popular. It’s genuinely profitable. It might not be the most exciting small business to get into, but it’s the one method which is pretty much guaranteed to pay the bills. Unfortunately, it’s not going to do much more than that, but it is reliable, and that’s exactly what a lot of college students need. Because there’s a lot of other students doing it, you’re probably going to be dealing with significant competition. However, this doesn’t mean that you won’t find work, it just means that you’ll have to be content with charging the market rate per hour.
Tutoring will provide an average income, but there are a number of different ways you can boost that income to maximum levels. Firstly, you should focus on that one special subject where you’re most confident. Teach the subject that you have a knack for, and it’ll give you a great reputation with your students. Next, you’ll want to let your professors know that you’re offering tutoring services, and they might very well send more clients your way. Lastly, it’s important to be very organized when you schedule and communicate with your students.
Learn How To Make Insane Profits With Drop Shipping
Drop Shipping is a business model that is becoming increasingly popular in 2020, and it doesn’t take a genius to figure out why. It’s profitable. This small business doesn’t even have to be small – but even when it’s making you serious cash, it remains completely manageable. This is because with drop shipping, you aren’t dealing with any actual inventory or even shipping problems. All you are doing as a drop shipper is creating a website which sells other people’s products. When a product is sold, the company which owns those products is notified, the item ships, and… that’s it!
If it sounds easy, that’s because it is. This simple to manage concept is also what makes it ideal for college students, as little work is needed to keep the company going. Customer service is going to be your number one concern, followed by the creation of a good, solid website. Another issue you could face is finding the right suppliers, as this demands strong networking skills. In 2020, a lot of people are trying to do this, which means there will be third parties who will try to scam you.
Turn Your Passion For Photography Into A Reliable Source Of Income
If you’re more of an artsy type, then starting a photography business might be right up your alley. With the mass production and popularity of high quality camera phones, more and more people are realizing just how fulfilling photography can be, and that’s a wonderful thing. Students are getting heavily invested into this amazing hobby, buying expensive equipment and perhaps developing a strong following on social media. But few people are aware that there are those who will pay top dollar for a good photographer with decent equipment.
There are so many different directions you can go with photography, and when you’re starting out, it might be a good idea to try out different paths. One option is to provide headshots to people like Real Estate Agents, Actors, Musicians, and other working professionals. You might also decide to become a photographer for special events such as weddings and Bar Mitzvahs. Another option would be to take pictures of people’s products which can then be posted online. Fashion and clothing is an obvious choice as well. Once you’ve tried out all these different paths, and you’ve figured out what you do best, you might want to specialize in just one area.
Editing And Professor Proofing Can Be A Great Choice
The college campus is often a place filled with desperate, determined souls who are trying they’re very best to get a good grade. If you’ve got some extra time on your hands and you want to start an easy small business, you don’t even have to leave the campus in order to earn some decent money. Consider editing other people’s papers and making sure that their projects will get the best possible grade. There are tons of students out there who really need to pass that one course, and if you know how to win over a certain professor, your input will be worth its weight in gold.
Of course, this is a business which will probably work better if you’ve been at a college for a while, and you know all the various professors. If someone needs their paper edited and you’ve written the same paper once, your input will obviously be more valuable. That being said, be very careful about giving people too much information, and editing their paper to the point where it’s unrecognizable. This is cheating, and it could get you in serious trouble. Just like tutoring, this small business will probably only pay for a pizza or a 6 pack every now and then, but hey, it’s better than nothing.
College Students Can Rake In The Cash With A Consulting Business
This small business idea will only really appeal to students who are actually studying business itself. Consulting is an excellent choice for those who are determined enough, and it can actually be extremely profitable if handled correctly. Even better, it can serve as an excellent source of valuable, real-world knowledge that can help you in your future career path. You may be “just” a college student, but you still probably have more knowledge than most in various fields – especially if that field is a relatively new focus for most businesses.
Social media, for example, is a concept that many businesses are still trying to wrap their heads around. Provide your expert knowledge in this field after taking a few classes on the subject, and most businesses will be more than happy to compensate you for your efforts. This business might require some heavy lifting to get off its feet, such as unpaid internships, for example. The general concept behind a consulting business is to take as many classes as possible in a particular subject, then sell your newfound expertise to various businesses.
Try Your Hand At Product-Based Businesses
Remember how we said that starting a small business always involves some risk? Well, this particular type of business might just be the riskiest we’ve mentioned. It’s exactly what it sounds like – creating a product and selling it. This product could be anything, but the important thing is to recognize something that your customers need. Supply that product and market it in the correct way, and the profits can be simply astounding.
There are a few things to consider when starting a business like this one. First of all, focus on the market you know and understand – other college students. Because you’re part of the student culture, you understand better than anyone what everyone needs and wants. Secondly, make sure to team up with like-minded students to make your product become a reality. The chances of success increase with a larger team of entrepreneurs. You’ll also benefit from the advice of someone who knows what they’re talking about. Luckily for you, your campus is full of these people – they’re called professors.
With the right mindset, you can easily make college a much less stressful experience when it comes to finances. Yes, entrepreneurship involves risk, but that doesn’t mean you should continue working at Starbucks just to “play it safe.” The great thing about being young is that you can afford to take risks, fail, and then try again. That’s why you’re in college, after all. You’re there to make mistakes and learn from them. Hopefully there was at least one small business idea that got your creative juices flowing, and who knows, it might just pay off your student loan!
How I earn 6 figure income this 2020 and how you can too
If you haven’t found the right business from the options above, then I will recommend my business which makes me earn 6 figure income.
That business is local lead generation using free traffic. This is a very scalable and an easy market. Since you can choose from so many niches and so many cities.
You can do this regardless of your age or your educational background. You can do this from anywhere you want. All you need is a laptop and the internet.
Here is an example of my local lead gen sites that uses free traffic and earn $750 per month.
And that was just one site.
If you are interested to learn more or just curious about it, then you can check out this coaching program. You can learn to build your online business with local lead generation using free traffic. And earn 6 to 7 figure income this 2020 while you’re still a student.
To your freedom!