It doesn’t take a genius to realize that going to college is expensive. Every day, thousands of potential entrepreneurs patiently take classes to get their degree and enter the business world. Meanwhile, rising tuition rates throughout the country means an increasing amount of student debt that has more than doubled (even accounting for inflation) in the past two decades.
But here’s the good news: you don’t have to wait until graduation to start your own business! In fact, you may want to think about realizing your business idea while still in college, limiting your student debt and setting yourself up for success before you even walk across the stage to accept your diploma. Here are 5 potential startup ideas you might want to consider as an entrepreneur in college.
1. SAT Tutor
Some things never change. Just as you were probably terrified of the SATs before taking the test, high school students around the country are currently feeling similarly. Why not help them out? Professional tutoring services charge as much as $4,700 for a tutoring class, leaving many families without options when it comes to preparing for the SATs. By setting a reasonable hourly rate and providing evidence of your credibility (such as your own high SAT scores or current college grades), you can quickly develop a client base of local high school students.
2. Resume Writing Service
Just as many high schoolers don’t feel confident about the SATs, college students feel similarly about their career prospects. And they know that a well-crafted resume makes a huge difference: research has shown that on average, employers only spend about 6 seconds looking at individual resumes before making a decision. A well-advertised resume writing service allows you to quickly gain clients on your campus provided you have solid writing skills, some design ability, and samples available that show off your prowess.
3. Hair and Makeup Artist
How good are you at doing hairstyles or makeup? If you’re the one who takes care of your friends’ look before big events, you may want to consider making a business out of it. In the wedding industry, for example, you can easily earn upwards of $300 per bride on a given day. If you boast some technological savvy, you may also want to consider providing hair and makeup tutorials online. Beauty vloggers can gain significant ad revenue from channels such as YouTube, which will pay its content providers based on the number of video views.
4. Web and App Design
Speaking of technological savvy: if you’re majoring in a tech-oriented field, why not begin your professional work before graduation? More than half of small businesses don’t have a website, and about 93 percent of those that do are not mobile optimized. In other words, they desperately need to enter the digital world, and you’ll be available to help them get there. If you can’t think of local businesses that you can approach personally, consider advertising your services on one of the many job market sites for freelance web designers.
5. Organization Service
Let’s face it. College students are generally not very organized. But if you are the exception to that rule, why not take advantage of your skills? As it turns out, 80 percent of the clutter in most homes is a result of disorganization, not lack of space. That’s part of the reason why professional organizers have grown so much in recent years. Also, they now have a national association overseeing the profession. Needless to say, it’s also a great way to make some money during college.
Of course, these are just a few of the many business ideas that you can realize while still in college. They are great ways to make some money during your college years, but they’re also invaluable practice for the world after graduation. Whether you start a tutoring business, design websites, or organize local families’ households, you’ll learn how to run a business and manage your money. You’ll set yourself up for success (and a lack of student debt) by the time graduation rolls around.