Lana Oconnell
Starting a business as a university student can be challenging, but it's not impossible. Many students are advised to start a business, but they often lack the necessary knowledge and skills to begin. However, university provides a safe space to test ideas, with a supportive community that wants you to succeed. It's important to start with a strong business idea that can provide value, and to understand your market and target audience. Students can leverage their unique position to offer insights into how brands and products are perceived by young people, or create experiences for tourists, like tours of their city. With little startup costs, students can sell handmade goods, offer freelance services, or tutor school students. Social media can be a powerful tool to build an audience and make money through sponsored content. It's also crucial to set boundaries and manage your time effectively to avoid burnout.
| Characteristics | Values |
|---|---|
| Business type | Freelance work, on-demand services, e-commerce, product testing, tutoring, etc. |
| Skills | Crafting, writing, illustration, graphic design, consulting, teaching, etc. |
| Marketing | Word-of-mouth, social media, campus bulletin boards, clubs or events, discounts, free samples, etc. |
| Time management | Flexible, consistent, and intentional effort, with strong boundaries to avoid burnout |
| Motivation | Independence, passion projects, financial gain, personal satisfaction, etc. |
| Challenges | Financial and legal aspects, customer service, managing feedback, etc. |
| Support | Co-founder, alumni network, university resources, etc. |
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What You'll Learn
Freelancing
There are numerous freelance websites that cater to different skill sets and interests. For example, Dribbble is a freelancing site for graphic designers, offering jobs in product design, illustration, and animation. Students can showcase their talent by posting their portfolios and communicating with other freelancers. Similarly, Upwork is a platform that connects freelancers with job openings based on their skills and experience. Other popular freelance websites include Studybay, Freelancer, and Toptal, each offering unique features and benefits.
The type of freelance work a student takes on will depend on their skills and interests. For instance, students with a flair for writing can find opportunities as content or blog writers, copywriters, or editors. Those skilled in design can offer graphic design, marketing materials, or photo editing services. Online teaching and tutoring are also in high demand, allowing students to teach any subject they excel in.
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On-demand services
Print-on-Demand Sales
With the rise of e-commerce, print-on-demand services are in high demand. You can design and sell custom t-shirts, mugs, or other merchandise with your unique designs or those requested by clients. Sites like Fiverr, Upwork, and Shopify offer great opportunities to advertise your services and connect with potential customers.
Academic and Language Tutoring
If you excel in a particular subject or language, consider offering tutoring services to junior students or even high school students. You can provide one-on-one tutoring sessions, or you can create and sell online courses on e-learning platforms. This not only helps you earn money but also allows you to reinforce your own knowledge and build your CV.
Freelance Services
Freelancing is a popular option for students as it allows them to work remotely and choose their own hours. You can offer a variety of freelance services such as writing, editing, graphic design, illustration, web design, or consulting. Platforms like Fiverr and Upwork are excellent tools for advertising your services and connecting with potential clients worldwide.
Pet Services
Pet-related services are always in demand, and students can easily start a pet-sitting or dog-walking business. You can advertise your services on campus and in your local community. This business idea is low-cost and flexible, allowing you to choose your hours and build a loyal customer base.
Personal Chef
If you have a passion for cooking and knowledge of specific diets, consider becoming a personal chef. There is a growing demand for healthy food options and specialty diets such as vegan or high-nutrient meals. You can start small by offering your services to friends and family and gradually expand your reach.
These are just a few examples of on-demand services that university students can offer. With creativity, resilience, and time management, students can successfully start and grow their own businesses while pursuing their academic goals.
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Selling handmade goods
If you're a university student with a creative streak, selling handmade goods can be a great business idea. Here are some things to keep in mind:
Products
First, consider what handmade products you want to sell. This could include crocheted décor, stitched tote bags, handmade jewellery, or even niche products like baby and children's items. If you're an eco-conscious crafter, you might want to focus on eco-friendly and handmade items.
Marketplaces
There are numerous online marketplaces where you can sell your handmade goods, each with its advantages and disadvantages. Here are some popular options:
- Etsy: A well-known creative marketplace with over 1.6 million sellers, offering control over when and how often customers can purchase.
- Amazon Handmade: A maker-only community with a global reach, but it requires a selling account for each region and has a 15% referral fee.
- ICraft: A global craft marketplace with categories like "Gifts for Her" and "Wedding Gifts," making it ideal for gift-centric purchases.
- Zibbet: Attracts sellers with no listing or sales fees and a free account, catering to independent creatives offering one-of-a-kind items.
- Folksy: The largest UK-based online marketplace for handmade goods, offering a sense of community support and a free shop option with a small percentage taken from sales.
In-Person Sales
In addition to online sales, you can also sell your handmade goods in person at local markets, craft fairs, shows, exhibitions, and even within local shops. These events can be a great way to promote your products, network with other crafters, and sell directly to customers. However, it's important to ensure you have the appropriate insurance in place, as most organisers will require proof of insurance before allowing you to sell.
Business Considerations
When starting your handmade goods business, it's crucial to understand your target market and what your audience wants. Test and learn from your target audience's feedback, and don't be afraid to make changes based on their input. Building a strong business idea that provides genuine value is essential. Additionally, consider the legal aspects of selling handmade goods, including any relevant guidelines and regulations.
Time Management
Juggling a business with your studies can be challenging, so set strong boundaries and realistic work plans to avoid burnout. Make sure to allocate time for rest and relaxation. Consider finding a co-founder or building a supportive team to help you manage the workload and share the highs and lows of entrepreneurship.
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Social media influencing
To become a social media influencer, you should focus on building a substantial online following around a relevant topic or niche. This can be achieved by creating and posting quality text and video content that offers value to your target audience. It is essential to be consistent in your content output and engage with your followers to build a community. Understanding your audience and using SEO (search engine optimization) techniques will also help drive more engagement and grow your following.
As a university student, you can leverage your unique perspective and experiences to create content that resonates with your peers. You can also utilize your skills and interests to establish yourself as an expert in a specific field, such as fitness, food, video games, or beauty. For example, if you are a hospitality student, you can create content around culinary tours of your city's favorite spots or offer online marketing courses.
Additionally, social media influencing can provide a flexible income stream through sponsored content and collaborations with brands. Influencers can earn anywhere from $50 to over $50,000 per sponsored post, with an average annual income ranging from $30,000 to $100,000. However, it is important to note that building a successful career as a social media influencer takes time and dedication and excellent communication, creativity, time management, and writing skills.
Remember to set strong boundaries and allocate your time effectively between your studies and your social media influencing pursuits to avoid burnout.
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Tutoring
Getting Started
To get started, you will need to decide on the type of tutoring business you want to run. You can choose to be the sole tutor in your business or hire other tutors to work for you and cover a wider range of subjects. You will also need to decide on the format of your tutoring, whether it will be online or in-person, and the age group and level of your students.
Skills and Knowledge
To be a successful tutor, you will need excellent knowledge of the subject(s) you plan to teach. You should also have patience and the ability to teach students effectively, creating tailored sessions and using teaching techniques and materials that suit their needs.
Equipment and Costs
The equipment you will need depends on the format of your tutoring business. For online tutoring, you will require a dedicated workspace that is quiet, well-lit, and free from distractions, with a tidy, neutral background. You will also need the right technology, such as a good computer and reliable internet connection. For in-person tutoring, you may need to rent premises and purchase more equipment, such as writing supplies and educational toys or games.
Initial costs for starting a tutoring business can range from $1,000 to $5,000, covering marketing, materials, transportation, and any necessary certifications. Online tutoring businesses typically have lower equipment requirements and, therefore, lower startup costs.
Marketing and Networking
Creating strong marketing strategies and building relationships with students and their parents are key to attracting more clients and growing your business. You can promote your services through social media, tutoring websites, word-of-mouth, and even flyers and business cards.
Time Management
Balancing your business with your studies can be challenging, so it is important to set boundaries and manage your time effectively to avoid burnout. Make realistic work plans and ensure you allocate time for rest and relaxation.
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Frequently asked questions
Here are some business ideas that university students can try:
- Freelancing services like editing, copywriting, illustration, graphic design, or consulting.
- Selling handmade goods like crocheted décor, stitched tote bags, or handmade jewellery.
- On-campus tech services, print-on-demand sales, or maker businesses.
- Selling second-hand items like vintage clothing or home décor.
- Offering private tutoring in your field of study.
- Creating and selling online content, such as guides or courses.
It is important for university students to set boundaries and manage their time effectively to avoid burnout and ensure their academics don't suffer. Additionally, understanding your market and target audience is crucial. University students can leverage their understanding of the higher education sector and their built-in audience of fellow students.
University students should be careful about maintaining a good reputation as word gets out fast in a community of students. It is also recommended to find a business partner or a supportive team to help with the workload and share the highs and lows.
University students can take advantage of word-of-mouth marketing, social media, and campus bulletin boards. They can also offer discounts or free samples to build buzz and sell advertising space to local businesses.
