Are you looking to earn a bit of extra money or turn an interest into a profitable business? With these business ideas that require no investment You can test your creativity, grit and entrepreneurial spirit studying at university.
The research conducted by Santander indicates that one in 10 students at universities are operating their own business in addition to their studies. Almost five percent plan to continue in the business after they finish their studies.
The growth of the side hustles for university students is easy to observe, but how do you get involved in this trend?
Before we dive into the fun and discover some of the most effective business ideas for students, we’d like to provide a few practical suggestions to help you in when you’re getting your business up and running. If you’re unsure of the legal and tax obligations or just want some more details on being a small-business owner We’re here to assist you.
How do you start an online side business – five essential steps
Create a business plan and consider the problem your company can solve for customers. Even if your business is with a small business, your plan is something that you can refine over time. It will help you get the most value from your creative ideas by analyzing possibilities, identifying potential issues, and planning your marketing strategy.Read more entrepreneurship ideas for students At website Articles
Be aware of your tax obligations – you can claim a tax-free PS1,000 trading allowance prior to having to inform HMRC about your earnings in the tax year in which you are. If you earn more than this, you’ll have to declare yourself a self-employed business – this is advantageous since you’re able to claim back tax for certain expenses associated with managing your business.
Insure your business which protects you from every day risks such as accidents, damages, and legal costs. For instance, public liability insurance covers your business in the event that someone becomes sick or injured due to the activities of your company. Learn more about the kinds of insurance for business you may require, and the reasons for it.
Control your budget – it’s an excellent idea to establish an annual budget for both your personal life as a student and your business venture. A business budget will help you track your income and expenses, allowing you to prepare for growth in the future. If you’re just beginning your own business It’s a good idea to save the money you earn and put it in a savings account to invest in the business or to spend it on training courses for your career that which you’re keen on.
Secure financing and finance – While the suggestions we provide below are reasonably low-cost options to set up however, you might still need to pay the initial costs for materials or technology, and you’ll need to figure out how to finance this. Consider crowdfunding or look into the support and finance programs of the government to determine whether you’re eligible for grants.
Contact your university’s careers service, as they’ll provide a wealth of resources and tools to assist you in your first steps as an business owner. Also, you can read our comprehensive guide on starting your own business.
Ideas for business-related ideas for students at the university
Are you looking for ideas? Here are some popular side business ideas that you can start while during your time at university. If you’re planning to turn it into a full-time business after graduating It’s crucial to think about the strengths and values you have, and what you enjoy the most.
1. Selling on eBay
It’s possible to sell almost anything on the internet, but you need to consider what you can sell to provide you with the highest return on your investment. You can work with a wholesaler who can bulk purchase the items you wish for sale, or you could offer vintage clothing or other homemade products.
Consider what’s in fashion today and try out your own products with a specific group of your students. For more information read our guide on how to find an online marketplace for your product.
2. Craft products with a design
If you’re an artist and are looking for a business that you could start right from your residence at university Why not consider starting an enterprise in the field of craft? Some of the most popular ideas are jewelry making, candle making and selling your own art prints that you frame yourself.
The best part is that this is something you can complete at home, and you are also able to get out and around by running your own craft stand at local market. Your school is likely to organize events for crafters, especially during the holiday season and so be sure to keep an eye out for events on the campus.
According to Student.com 20% of students earn money from tutoring. Why is that? If you’re at a higher point in your academic career You could help first-year students with their studies in your specialization or assist school-aged children in the requirements for their GCSE mathematics and English.
The best part is that you do not require a lot to started, only your expertise and the right resources on the subject. If the last year has taught us anything that you could offer it in the form of an online service.
4. Influencers on social media
Many students earn money in their bedrooms by promoting brands through their social media profiles in exchange for cash. If you have a large following and a loyal audience Brands may be interested in cooperating with you as an influencer.
There is no need to have millions of followers, you simply need to identify your niche and be prepared to blog a few times every week.
5. Create with a YouTube channel
Make sure you have a camera, audio equipment, and a beautiful background, and you could become the next big Vlogger. Vlogging about makeup, fashion, as well as travel videos are all the latest trends on YouTube. You can even record the joys, challenges, and adventures of a student’s life.
Making money from YouTube will require some effort and time, but when you begin to see the number of views increase and you can earn money from the channel’s advertising revenue or membership.
6. Dog walking
If you are a lover of animals and would like to be more involved with your dogs You could make use of your spare time between classes to provide dog walking services.
This guide on dog walks will cover everything you require to started, from the licensing and training you may require to how to draw new customers and figure out the price you’ll charge. Check out our guide to jobs that involve animals to get more ideas.
7. Be an independent contractor
Freelancing can be a fantastic way to earn some extra cash on the side, however, with a little perseverance and networking, you can turn it into a full-time source of income. Copywriting is a very popular service to provide as a lot of companies are seeking help in the writing of blogs and news articles, like.
Other opportunities for freelancing include graphic design and photography. Whatever your expertise, freelance work is a low-risk method to begin building your client base and establishing your own niche.
8. Food and drink industry
If you’re a lover for food, why not offer your food creations to the masses by creating a food and beverage business? You can start your own cake and baking business in your kitchen and sell at market stalls around campus. You could also deliver meals, provide cooking classes or work towards creating an own food truck business.
There are rules and laws regarding selling food products to the public , and this includes providing details about allergens. Be sure to check the guidelines provided by the Food Standards Agency and register your company with the local authority within 28 days.
9. Student removals business
Although starting a business in removals might seem like a costly possibility, you can start with a small amount to try out. Renting a van for a few hours or using the city car club is affordable and could be scheduled at the last minute. It is possible to book students movers prior to committing to any financial expenditure.
Keep in mind that the majority of students will require help between the beginning and the end of the term, which means you’ll likely be busy in the months of June, July and September, but relatively quiet throughout the year. This is great for scheduling your work around your studies , however.
If your side business takes off, you may think about whether you should purchase or lease the van you use for your business.
10. Planning and coordinating events
The university life is known for its events and night out. If you enjoy gathering people and would like to showcase your talents then you can start your own party and event organizing business.
As an event planner , you’re accountable for organizing a location and food, drinks, decorations, and music. You’ll have to be a skilled communicator and establish connections with your network of suppliers. It’s also beneficial to get experience in organizing events before going on your own, however there are plenty of opportunities to improve these skills at the university. For instance, you can join the Student Union and be involved in the organization of student nights and campus-based events.
11. Be a tour guide
If you have a deep understanding of the city you attend university in, then you could consider becoming an instructor for your studies.
Finding the right balance between enjoyment and entertainment is a crucial aspect of being an experienced tour guide. Do you have something special that tourists can enjoy and discover? From food tours at independent eateries to walking tours that allow you to view amazing street art, to guided punting tours that are chauffeured within Cambridge or Oxford There are plenty of options to consider.
If you’re wondering how to become an experienced tour guide and begin advertising your company, Airbnb Experiences is a excellent platform to reach people who are visiting the area for vacation.