College is the best time to explore entrepreneurship and earn extra money to help with the expenses. However, many university students forgo that passion and delay starting a business due to time constraints and lack of financial resources. College students aren’t really the best candidate for term loans, considering their financial and credit standing.
But, one thing they often fail to realize is that a lot of businesses today won’t require a lot of capital to start. Sometimes, all you need is a computer and a stable internet connection.
There is virtually a lot of business you can run while you’re in college. But if you want more flexibility, online businesses are the way to go. With that, here are five online businesses you can start from your college dorm:
If you want to enter the world of eCommerce, dropshipping is the best way to go. With dropshipping, you’ll only need to set up a website and partner with companies that supply the product. In dropshipping, you’re selling products without holding any inventory for them.
Essentially, you’ll be the middleman of the transaction. When a customer places his or her order through your website, the partner supplier will automatically be notified. They will then pack and send the product directly to the consumer. For a college student, it’s basically a no-brainer.
The key to succeeding in your dropshipping business is to ace the marketing aspect of the venture. You’ll have to know how to get people to click on the links and products to drive traffic to your website. If you do it right, you can generate passive, so you can still earn even when you’re not actually working on the business-like when you’re in class.
2. Social Media Managing
Instead of scrolling endlessly for hours on social media, why not make some money out of it? Social media managers play a vital role in the social media marketing campaign of many businesses. They oversee the company’s social media strategy, making sure that their followers are constantly engaged.
As a social media manager, you’ll schedule social media posts, promote the company’s products on the platform, reply to customers, and monitor engagement. All these tasks only take a few hours every day, giving you ample time to work on your assignments and term papers.
3. Online Tutoring
College subjects might be hard, but there’s always that one area that you naturally excel in. You can use that to your advantage and start an online tutoring service to help those struggling in that area. The best part is, there will always be an increasing demand for college tutors, and you’ll be well compensated for your services.
If college isn’t your area, you can always cater to high school students in your area. SAT tutors are also in demand. You can opt for tutoring for either general or specialized SAT.
You can register your online tutoring services on your school board or post fliers in your library to let people know of your tutoring services. You can also ask your professors to help you spread the word. Be sure to post your rates and leave your contact information.
Tutors can charge between $10 to $100 per hour for their services, depending on the subject’s level of difficulty and city. Look up what other tutors are charging in your area and set your rates from there.
4. Paper Editing/Proofreading
If you’re one of the lucky souls who are particularly good with the written word, you might be able to make it as a paper editor or proofreading. Essays and term papers are especially common in college, and people will always be looking for someone who can proofread and edit their work for them. By simply posting a paper ad on your bulletin board at the campus or post your services on your social media, the business will start coming to you.
However, be careful not to go overboard to the point that you end up writing their pieces for them. This will get you in trouble. Be extremely clear about your job description and what you can do for them early on. It will help save you the headache of arguing with your clients.
5. Web Development and Graphic Design
If you have a knack for HTML and coding, or you’re good at designing logos and websites, starting a web development and graphic design business might be up your alley, and tools like a logo maker and website builder can help you in the process. It’s even an excellent option for those majoring in computer science or design as it allows you to get real-world experience. It also helps build a portfolio, which improves your odds of landing a job in the country’s top firms after graduation.
As digital marketing becomes one of the most valuable marketing strategies for business, many companies will be looking for web developers and pay a premium price for the service. However, you would have to work on your marketing and professional skills so you will be able to position your business in front of your clients at the right time.
As a college student and business owner, you’ll face a handful of challenges and stress as you continue down the path of entrepreneurship. But on the bright side, you’ll be able to earn money to help pay for tuition and support yourself throughout college. On top of that, you have the chance to gain experience which can be useful after graduation.
There are endless online business options available for college students out there. Who knows? All you have to do is to find the right opportunity and pursue it.
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