Want to make a little extra cash or simply turn something you enjoy into a successful business? With these business ideas that require no investment that you can test your creativity, grit, and entrepreneurial spirit while in university.
Research from Santander shows that one in 10 university students are currently operating their own businesses alongside their studies. Nearly half of them intend to continue with their business when they graduate.
The rising popularity of the side hustles within the college student community is evident to notice, but how do you be part of this trend?
Before we dive into the fun aspects and examine some of the most successful business ideas that are suitable for students, let us to share a few practical guidelines to assist you in to get your business started. If you’re not confident about your tax and legal obligations or want to know a bit more information on being a small-business owner We’re here to assist you.
How to start your own side hustle with 5 most important steps
Write a business proposal – think about what problem your business is able to solve for customers. Even if your company is at a low level, your business plans will evolve over time. It will help you get the best out of your new ideas by looking at opportunities, identifying any potential difficulties, and organizing your marketing strategy.Read here affordable essay writing service At our site
Be aware of your tax obligations – You can enjoy a tax-free PS1,000 trade allowance before you are required to notify HMRC about your income for any tax year. If you’re earning more than this, you’ll have to declare yourself a self-employed business – it’s a good thing as you are able to claim the tax back on certain costs associated with managing your business.
Make sure your business is insured This protects you from ordinary risks like accidents damages, and legal costs. For example public liability insurance will cover your business in the event that someone becomes sick or injured because of your company. Find out more about what types of business insurance that you might require, and more importantly, why.
Manage your budget – it’s recommended to make a budget both for your personal school life and your business. Having a business budget means you keep track of income and expenses, allowing you to make plans for the future. When you’re just starting the business of your choice it’s beneficial to keep any profits you make and put it into a bank account to invest into the business or to invest it in educational courses in your field that which you’re keen on.
Secure financing and financing – Although the solutions we present below are relatively low-cost to begin However, you could still face an initial expense for materials or other equipment, so you’ll need to decide how to fund this. You could consider crowdfunding or looking at the finance and support of the government to determine whether you’re eligible to receive any grants.
Contact your university’s career service for a wide range of resources and tools to help you with starting out as an business owner. You may also want to read our detailed guide on how to start the business.
Ideas for business for students in university
Are you in search of inspiration? Here are some successful side business options you can consider starting while in the university. If you’re hoping to take it on as a full-time occupation after you graduate It’s crucial to be aware of your strengths, values and what you enjoy the most.
1. Selling on eBay
You’re able to sell anything on the internet, but it’s vital to determine what will offer you the best return on your investment. You can collaborate with a wholesaler to buy the products you’d like you to offer, and sell old clothes or handmade items.
Think about what’s popular right today and test some of the products you’ve created with a group of your student mates. For more tips, check out our guide to finding an item to sell on the internet.
2. Design-based craft products
If you’re an artist and are looking for a creative business you can start from your residence at university Why not consider starting with a crafting business? A popular idea is candle making, jewellery making, or selling the prints you make yourself as framed art.
The best part is that this is something you are able to do from the comfort of your own home. You can also get out and in the community by establishing your own craft stall at local market. The university you attend will host events for crafters especially during the holiday season and so be sure to keep an eye out for these on campus.
3. Tutoring
According to Student.com, 20 per cent of students are making money through tutoring. The reason for this is simple. If you’re further along in your university career You could assist first-year students with their studies in your specialization or assist school-aged children with the requirements for their GCSE subjects like maths as well as English.
The good news is you don’t need much to get started, only your knowledge and any specific information on the subject. And if the year that has passed was a learning experience the way to improve this, you can provide this on the internet too.
4. Social media influencer
Lots of students are making money , without leaving their bed by promoting brands on their social media accounts in exchange for cash. If you’ve got a strong follower base and a well-engaged audience brand might be interested in working with you to become an influencer.
You don’t have to have hundreds of followers, you simply need to identify your niche and be prepared to publish a few posts per week.
5. Create with a YouTube channel
You need a camera sound equipment, and a nice background, and you could become the next big vlogger. Vlogging about makeup, fashion, Travel vlogs as well as makeup tutorials all trending on YouTube. You can also capture your experiences, struggles, and moments of your student life.
Making money with YouTube will require some time and effort, but should you notice your views rise it could be possible make money via the channel’s advertising revenue or membership.
6. Dog walking
If you’re fond of animals and want the chance to have more interaction with dogs then you can use your time in between lectures to provide dog walking services.
Our guide to dog walking includes everything you require to started, from the certifications and licenses you might need to how to attract new clients , as well as figure out what you’ll charge. Check out our guide on jobs that require animals for more ideas.
7. Make yourself an independent contractor
Freelancing can be a fantastic way to earn a little cash, however with a bit of dedication and persistence, you can make it your full-time income. Copywriting is a well-known service to offer since a large number of companies are seeking help for writing blogs and news articles, like.
Other typical freelance opportunities include photography and graphic design. Whatever your expertise, freelance work is a low-risk method to build your client base and to find your niche.
8. Business in food and drink
If you have a passion for food, why don’t you bring your culinary creations to the public by starting a food and drink business? You could start your own cake and baking business in your kitchen and sell at campus markets. It is also possible to deliver meals, conduct cooking classes and even think about having private food trucks business.
There are laws and regulations about selling food to the public . They also require details about allergens. Be sure to check the guidelines provided by the Food Standards Agency and register your firm with your local authority within 28 days.
9. Student removals business
While starting your own removals business may sound like an expensive alternative, it’s an option that you can start with a small amount to check the waters. hiring a van for just a couple of hours or utilizing an urban car club is relatively inexpensive and can often be made last minute. It is possible to book in student movers before committing to any financial commitment.
Keep in mind that the majority of students require assistance in the middle and at the end of the term, which means you’ll probably be busy during June, July, and September, and then relatively unoccupied for the remainder of the year. This can be helpful for working your business into your studies , however.
If your side-business takes off, you might want to consider whether to buy or lease an office van.
10. Planning and coordinating events
Life at university is famous for its parties and nights out. If you are a fan of having people get together and want to show off your creativity, you could start your own party and event planning business.
As an event coordinator, you’re responsible for the organization of a space for food, drinks, music, and decoration. You’ll need to be a proficient communicator as well as build connections with a variety of suppliers. It’s also a good idea to experience making plans for events before you do by yourself, but you’ll have ample opportunities to develop these skills while at the university. As an example, you can join the Student Union and participate in the organization of student nights and campus-based events.
11. Make yourself a tour guide
If you’ve gained a thorough understanding of the city you attend university in, then you could be able to work as a tour guide in conjunction with your studies.
Making sure you balance fun and entertainment is an essential aspect of being a tour guide. Can you provide something new for tourists to explore and learn about? From food tours in independent eateries to walking tours of cool street art , or guided punting tours that are chauffeured to Cambridge or Oxford There are plenty of possibilities to think about.
If you’re thinking of how you can become the next tour guide and get started selling your services, Airbnb Experiences is a fantastic platform to connect with people in the area during holidays.
