7 Entrepreneurship Ideas for Students
August 6, 2024
Startup Business Ideas for Students
While many people think that the best time to start a business is after they've graduated college, today's students are turning that idea on its head. In fact, a 2021 global survey found that 28.4 percent of students were trying to start a business while still in school, and 10.8 percent were already running one![1]
What kind of startup companies or were these motivated students creating? While their interests and successes vary, there are many possibilities for a business. Here are several entrepreneurship ideas for students that don't require a lot of capital to get started.
1. Tutoring Services
Students of all ages need tutors, including young children learning to read and college kids struggling with chemistry. If you've mastered the material and can patiently teach, you may have the right stuff to tutor for extra cash.
You don't have to be a straight-A student to share your knowledge with others, but you should have references who can vouch for your skills. Tutoring can happen as a formal arrangement with the college, often through the school's resource center. You might also try an online tutoring platform that can pair you with a student or two.
2. Freelance Writing Service
If you have a knack for finding the right words and know grammar rules, you could help write product descriptions, blog posts, or even social media updates. Companies of all sizes need help with their writing needs, although you'll need to establish yourself as a reliable writer early on. Start by finding jobs through online freelance job boards.
You can also approach businesses directly but have some samples of your work to show them first. These can be articles you wrote on your own blog, for the school newspaper, or as part of a social media campaign you did for a friend or relative.
3. Dropshipping Business
Dropshipping is a type of online retail business where the store has the product sent directly from the manufacturer or distributor to the buyer. It can be easier than running a traditional store where you keep inventory, as you don't need to pay out money upfront for the product.
However, competition for this business is fierce, with anyone able to start a store overnight. This industry is growing quickly, though, with a global market size of $287.36 billion in 2023 (expected to grow over 23% by 2030!)[2] This positive outlook makes it a solid option for a motivated student with great marketing skills.
4. Resell Vintage Items
If you can spy a mid-century modern table lamp among a pile of junk, you may have an eye for reselling in-demand items for a big profit. In fact, many of the top eBay®, Etsy®, and 1stDibs® sellers get their goods from thrift stores, garage sales, and estate sales in order to buy low and sell high.
Resellers must spend some cash upfront to stock their store, but you can start small. Once you get an idea of what's on trend, look for things that sell for three to four times the price you paid for them. Be sure to use the marketing tools available for free on each of the seller platforms, as they can boost sales and even give you discounts for shipping.
5. Pet Sitting Business
College students may have the flexibility to fit walks, baths, and snuggle time into their classroom schedules. Online caregiving platforms make it simple to connect pet sitters with those needing help. Gigs can range in time commitment from a quick walk around the block to a weekend stay or longer.
Pet sitting service benefits the owners by giving them a trusted helper when they can't be with their pet, and students benefit from time with animals, which has been shown to decrease stress and improve mood.[3]
6. Create Printables
Printables are products like books, worksheets, journals, or other paper tools that creators sell as digital files that can be printed by the buyer at home. They cost very little to make — just your time and the software needed.
If you have a good idea for a printable, you can charge anything you want for your item. Full bundles of goods, such as planners, recipe books, or learning materials, can go for much higher as they solve multiple problems the buyer may have.
Printable business owners may do well if they have some basic design skills and a way to market their items since there's a lot of competition in this business. However, if you can brand yourself as offering one printable category and make it pretty, people might continue to buy it again and again.
7. Tech Support Services
Have you ever had a parent or friend come to you with smartphone or computer issues? Maybe you're the go-to for learning about the latest social media tool. Whether it's Snapchat® advice or ideas for battling computer viruses, you may be the best tech support option for those around you (and it may be profitable for you.)
It can be difficult for older adults to get the help they need when setting up a new computer or replacing a printer. If you can assist, they may be happy to pay you. In fact, many tech owners find themselves alone when dealing with these headaches. You can offer them support that the manufacturer or store won't and start a small business helping others at the same time.
Find a Need and Make Some Money
These are just some small startup ideas for students, but they can be used as inspiration. Many of the best business entrepreneurs created businesses around solving a problem.
If you see an opportunity to help someone through a new business idea, research more to see if it might become a viable product or service. You can also get help from your school, usually through the business department. The Small Business Administration's (SBA) SCORE resources can also provide guidance, as well as templates and tools to build your business affordably.[4] Use our small business example budget template to make sure you build a solid financial plan for your business and consider partnering with Centier for all of your small business financial needs.
Sources:
[1] Global Student Entrepreneurship 2021: Insights From 58 Countries 2021, October 2021 https://www.researchgate.net/publication/355172486_Global_Student_Entrepreneurship_2021_Insights_From_58_Countries_2021
[2] GVR Report coverDropshipping Market Size, Share & Trends Report: Dropshipping Market Size, Share & Trends Analysis Report By Product Type (Toys, Hobby & DIY, Furniture & Appliances, Food & Personal Care, Electronics & Media, Fashion), By Region, And Segment Forecasts, 2023 - 2030, Accessed July 2, 2024, https://www.grandviewresearch.com/industry-analysis/dropshipping-market
[3] The Power of Pets, National Institutes of Health, February 2018, https://newsinhealth.nih.gov/2018/02/power-pets
[4] SCORE, Accessed July 3, 2024, https://www.score.org/
