Are you looking for a way to pay off your student debt? Do you want to become more financially independent? Are you fed up with tedious part-time jobs and want to be your own boss? Then what about launching your own business?
We’ve collected several examples of profitable student startups that can boost your entrepreneurial thinking and inspire you to get your own project off the ground.
Passing the SAT/ACT can be a hell of a task, but being a college student implies that you’ve successfully nailed that one. So you can leverage your experience and turn it into a lucrative teaching startup. Depending on the complexity of the subject, the grade level of your student, and your competence as a teacher, you may charge from $25 to $75 for a single tutoring session.
Statistics show that there is a steady demand for private tutors in languages and STEM-related fields. So if you have a knack for those disciplines, you can not only pass your knowledge to the next generation but also receive hefty financial benefits along the way.
Event Planning Agency
Do you like throwing grand parties? Or maybe you have a passion for organizing and running meetings? Either way, starting an event planning business might be an excellent opportunity to monetize your skills.
Your event agency can specialize in private celebrations like birthdays, weddings, and baptisms, or you can choose to work in the sector of nightlife entertainment, which covers student raves, DJ sets, music gigs, and festivals. You may also reach out to local firms, hotels, nonprofits, municipalities, and government organizations and offer your services as a corporate event planner. In this case, you will mostly deal with team-building activities, seminars, conferences, holiday parties, and appreciation events.
Working as an event planner requires strong organizational and communication skills, as well as a creative vision and a keen eye for detail. You should also know how to efficiently manage a team, especially when you arrange and coordinate large-scale happenings. Another important characteristic of a great event organizer is the ability to work on tough deadlines. While you are still a college student, this also extends to your academic life. However, as your business grows, it may be hard to keep up with all the tasks. So there is nothing wrong if occasionally you use the services of an expert online writer from the domyessay team, who can help you cope with your writing assignments on time.
3D Printing Workshop
Long gone are the days when 3D printing was used exclusively to test the design concepts or to accelerate progress from prototype to the final product. While some time ago, 3D printers seemed to be just another fad, nowadays, this technology is reaching every facet of life. Its applications cover a vast scope of possibilities, from spare part management and designer artwork to aeronautics and healthcare products.
3D printing is the foremost startup idea for young entrepreneurs eager to gain their footing in a booming industry. It is expected to grow by 23.5% annually for the next five years, so it is definitely worth investing in this technology. Depending on the type of equipment and business model you choose, the upfront costs may add up to $2,000 – $ 10,000.
If you like catching interesting moments and you hardly ever put away your camera, then you can try to turn your hobby into a profitable trade. One of the easiest ways to get paid for your photography skills is to create a profile on a stock imagery website, like Fotolia, Dreamstime, Shutterstock, or iStockPhoto, and sell your works there. All you will need to do is upload pictures in high resolution to the platform and add a description and appropriate hashtags. Whenever someone acquires your image to use on their website or in marketing materials, you receive a royalty payment.
Another option to become a professional photographer is to set up a photo studio. You can run one right from your house or rent a professional space somewhere in the downtown area. Once you’ve chosen the site, it’s time to think about the studio equipment you will need in order to take the perfect shots. In addition to camera gear, be ready to invest in a decent camera tripod, backdrops, adjustable lighting equipment kit, and professional photo editing software.
The most fruitful niche in the photo business is wedding photography. As the rule of thumb, couples are ready to shell out 10-15% of their wedding budget to preserve in pictures the precious moments of their special day. That can convert into $2,500 – $10,000 paycheck for a shooting session lasting anywhere between two and eight hours.
GPS tracking is another great tech business idea for your first college startup. It is a fast-growing industry with relatively low competition and, therefore, a lot of opportunities for new entrants. The best thing about such a business is that you don’t have to produce your own hardware. You can simply order branded GPS tracking devices from the manufacturer and send them to your clients by drop-shipping.
You may channel your entrepreneurial efforts to the consumer GPS tracking segment, helping private customers trace the exact location of their kids or elderly family members, or let owners identify the whereabouts of their pets or vehicles. You may also provide GPS monitoring services for businesses, governmental organizations, and NGOs.