Are you looking to earn a bit of additional cash or transform a hobby into a successful business? With these business ideas that require no investment to test your creativity, perseverance, and entrepreneurial spirit while at the university.
Research conducted by Santander confirms that 1 in 10 students in universities is running their own company alongside the course, and nearly five percent of them are planning to keep running their own business once they finish their studies.
The growing popularity of the side hustle within the college student community is evident to see, but how can you join this growing trend?
Before we go into the fun part and discuss some of the most successful business ideas for college students, we’d like to give you a few practical suggestions to help you in setting up your business. If you’re uncertain about the legal and tax obligations or want a bit more information on being a small-business owner and want to know more, we’re here.
How to start an side-business – 5 most important steps
Prepare a business plan – think about what problem your business can solve for consumers. Even if your company is as a small company, your business plan is something you can work on over time. It allows you to get maximum benefit from your creative ideas by analyzing possibilities, identifying issues, and planning your marketing.you can find more here affordable essay writing services from Our Articles
Know your tax obligations – you’re entitled to a PS1,000 tax-free trading allowance prior to the time you have to tell HMRC about the amount you earn in the tax year in which you are. If you’re earning more than this, you’ll have to declare yourself a self-employed business – it’s a good thing as you can claim back tax for certain expenses related to managing your business.
You can protect your business by obtaining insurance – this protects you from every day risks such as accidents, damage, and legal costs. For instance, public liability insurance can protect your business in case of illness or injured as a result of your business. Find out more about the types of business insurance that you might require and the reasons.
Set your budget and stick to it – it’s good to have an budget for both your personal school life and your business. A business budget will help you track your income and expenses, helping you prepare for growth in the future. If you’re beginning your own business, it’s a nice idea to save the money you make and put it into a pot to invest into the business or to spend it on training courses for your career that or other courses you’re looking into.
Finance and security – Although the solutions we present below are fairly low-cost to begin but you’ll likely have some initial expenses for supplies or other equipment, so you’ll need to know how to fund this. You could consider crowdfunding or a look at the finance and assistance offered by the government to see whether you’re eligible to receive any grants.
Chat with your university’s career service, as they’ll provide a wealth of resources and tools to help you get started as an entrepreneurial. You can also check out our comprehensive guide on starting an entrepreneurial venture.
Business-related suggestions for students at university
Need inspiration? Here are some popular side business concepts you could begin at the beginning of your university education. If you’re hoping to become a full-time career after you graduate It’s essential to take note of the strengths and values you have, and what you’d like to do the most.
1. Selling on eBay
There is no limit to what you can sell online, but it’s important to consider what you can sell to yield the greatest return on your investment. You might work as a wholesaler and purchase the goods you’d like to sell, or you might sell vintage clothes or homemade items.
Find out what’s in style in the moment and try out your own products with a specific group of your fellow students. For more ideas you can read our guide on how to find an item to sell on the internet.
2. Designs and crafts products
If you’re a creative person and are looking for a new venture that can start from the accommodation you have at your university and start an art-related business? Most popular options include jewelry making, candle making or selling your own art prints framed.
The great thing is this is something you could do at home, and you could also be out and around by running your own craft stall at local markets. Your school will surely host events for crafters especially during the holiday season which is why you should keep an eye out for such events on the campus.
3. Tutoring
According to Student.com, 20 per cent of students earn money from tutoring. What’s the reason? If you’re in the middle of your academic career You can help first-year students with their studies in your specialist subject or assist school-aged children in taking their GCSE Maths or English.
The good news is you do not require a lot to set up, just your experience and materials for the subject. And if the year that has passed is a good example then you can provide it in the form of an online service.
4. Influencers of social media
Lots of students are making cash without ever leaving their rooms by promoting brands on their social media accounts in exchange for cash. If you’ve established a solid fan base and an active audience Brands may be interested in working with you to become an influencer.
You don’t have to have millions of followers, you only need to discover your niche and have the willingness to write a few days per week.
5. Create a YouTube channel
Grab a camera sound equipment, and a gorgeous background, and you could become the next big YouTube vlogger. Vlogging about makeup, fashion traveling vlogs and makeup tutorials are all the latest trends on YouTube. You could also record the struggles, joys and moments of your student life.
Making money from YouTube may take quite a bit of energy and time, but when you begin to see your viewing figures go up there is a chance make money via the channel’s advertising revenue or membership.
6. Dog walking
If you’re fond of animals and would like for more quality time spent with dogs it is possible to use your time between lectures to offer dog walking.
A guidebook for dogs walking will cover all the information you need in order to established, from your training and the licenses you’ll require, to ways to get new clients , as well as figure out how much you’ll charge. Check out our guide to jobs working with animals for more ideas.
7. Be a freelancer
Freelancing is an excellent way to earn some income on the side but with a bit of hard work and networking you could turn it into your full-time job. Copywriting has become a popular service to offer since a large number of companies seek assistance with the writing of blog posts and news articles, for example.
Other popular freelancing options include photography and graphic design. Whatever your expertise, freelance work is a low-risk way to get started building your client list and find your ideal niche.
8. Business of food and drinks
If you’re someone who has a passion for food, how about bringing your culinary creations to the public by starting a food and drink business? It is possible to start the cake and baking company using your kitchen. You could sell your products at market stalls located on campus. Also, you can deliver meals, give cooking classes, or even work towards having your own food truck business.
There are laws and regulations concerning selling food items to the public . They also require information about allergens. Check out the guidance provided by the Food Standards Agency and register your company with the local authority within 28 days.
9. Student removals business
While starting your own removals business could seem like a costly choice, you might consider starting small to check the waters. A van rental for a couple of hours or by using cars from a local car club are affordable and could be arranged last minute. It is possible to book students movers prior to committing to any financial investment.
Be aware that the majority of students will need help moving between the beginning and the end of the term, which means you’ll likely be extremely busy during the months of June, July and September. But you’ll find it quiet all through the year – useful for working your business into your studies , however.
If your side venture takes off, you might think about whether you want to purchase or lease an office van.
10. Planning and coordinating events
University life is known for its evenings out and parties. If you’re passionate about gathering people and would like to show off your talent and talents, you could begin your own event and party planning business.
Event planners are responsible for organizing the venue including food, drinks, decorations, and music. You’ll require professional communicator who can establish connections with your network of suppliers. It’s also beneficial to experience the planning of events before you venture into by yourself, but you’ll have plenty of chances to develop these skills while at the university. For instance, you can join the Students’ Union and be involved in organizing student nights as well as off-campus events.
11. You can become a tour leader
If you have a deep understanding of the city you attend university in, then you could consider becoming a tour guide alongside your studies.
The balance between having fun and entertaining is an important part of being an expert tour guide. Are you able offer something distinctive for tourists to see and learn about? From food tours with independent restaurants , to walks to look at cool street art to guided punting tours that are chauffeured that take place in Cambridge or Oxford There are plenty of options to consider.
If you’re thinking of how you can become the next tour guide and get started marketing your business, Airbnb Experiences is a fantastic platform to connect with people visiting the area on holiday.