Small business ideas for college students?
Hello, I Amin college and I'm looking for some ideas on good businesses for a college student to start. I am going for business administration and have a part time job managing a small bar (but only work like 2 days a week and I really am not into food service), but I think it would be fun and a good experience to start a small business. The closest thing I've done to this was flip items on craigslist for profit. Does anyone have any ideas? Web based or physical type of business, it doesn't matter.
Now is a good time for college bound students, or those already in college, to start a business. In fact, I almost consider it a must. Much more than college graduates of the past couple decades, current matriculants, and the next few classes after you, need to be prepared to find ways to supplement or replace income from a job. Let’s face it: There is more competition, automation, constant changes within corporations; downsizing could happen at any time and there are fewer government safety nets.
Launching a business in college — or collaborating on one — sets you up for success. I’ve come up with 25 business ideas you can start for $200 or less. Use one of these or come up with your own. Some of these may work better than others, or may not work at all, depending on where you go to college. So choose wisely, and adjust quickly if the business you start isn’t growing.
In addition to reviewing the 25 ideas, take note of my five quick tips for creating a college business success:
1.Innovation is good but it can also be overrated. Don’t feel like you have to come up with the next Dell, Facebook, Microsoft or Google to launch. You can start a simple business that generates a profit. And that’s the main idea.
2.Pick an idea that has an immediate and obvious customer base that needs or strongly wants what you plan to sell.
3.After the initial $200, or whatever you spend for startup, 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. So, 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.
4.Remember the business is a great experience but it’s not the main reason you are there. You are there to get a great education. So develop discipline and time management skills that will allow you to go to class, make good grades and still operate your business.
5.Take advantage of every possible resource and opportunity you can access that will improve your business. Visit local and on-campus government business assistance resources, tap into the expertise of professors, apply for scholarships and competitions that focus on college entrepreneurs, study abroad to get international experience and new ideas, connect with students who are from growing economic powers like China and South America, and keep a written or audio journal of your business experiences —
Source(s):1 year ago