4 Low-Cost Business Ideas for College Students to Use in 2020

Learners spend a lot of money to get an education. It’s no wonder that student loan debt is at a record high. To help pay or avoid taking on debt, students are opting to start a business. The advantage of starting a business in college is that a young age gives you ample time to sharpen your entrepreneurship skills. You also gain practical knowledge on which risks in a company are worth taking and which ones are not.

Unless you’ve got a scholarship that pays all your education bills or won a lottery and you’re now a millionaire, starting a business in college can be your ticket to living a debt-free life. Having any source of income cannot be emphasized enough because 2019 statistics show that student loan debt has reached $1.5 trillion.

When it comes to starting a business, the common excuse is a lack of substantial capital and time. It is challenging for learners regardless of their academic level to balance a tight school schedule and part-time jobs.

Luckily, various businesses have low startup costs, and custom writing services which are accessible from anywhere are a great way to get more free time to focus on enhancing your brand. Here are lucrative business ideas that require almost no or low capital that are also ideal for college students.

Social Media Influencer

Did you know that by 2022 the influencer marketing industry is projected to be worth $15 billion? Furthermore, more than 90 of consumers trust influencers more than the traditional advertising methods. Besides, almost every student is on social media posting stuff and following their favorite brands. To capitalize on that, many popular and successful brands have started increasing the budget for digital marketing.

While brands and businesses have a lot to benefit by hiring an influencer, what advantages does a college student get from embarking on such a job?

– It’s a part-time job that makes it easier to balance with your school schedule. Besides, you get to set your own schedule, which will never conflict with your studying one.

– The skills gained from being a social media influencer will come in handy when you graduate because you can choose to continue doing that as a full-time job.

– By working with brands that intertwine with what you are passionate about or the course you are currently taking, you get to be authentic.

– You connect with people from all over the world.

The trick to becoming a successful social media influencer is to choose a niche that is related to what you are currently studying. That way, you can easily be considered an industry expert and get paid good money for a single post.

Child Care Services

It is an ideal business for a student with a busy schedule yet want to make money through a part-time job. After offering services to a few clients, you can use referrals or word of mouth to build a network of clients. Families, where both parents are employed or single mothers, are a good starting point for pitching your child care services. With this business, college students have tremendous flexibility on what specific services they want to offer, for how long and for which particular market segment.

Student Moving Services

Learners who are either moving to college or at home after graduating want the process to be smooth, and that’s where a good moving service comes in. For this business to be successful, you must be able to lift heavy items or have a few employees that can do such activities. The flexible hours and ability to build your own schedule is what makes this business idea great for students.

House and Dorm Cleaning Services

Students that do not want to clean their dorm rooms often seek cleaning services. You can opt to charge a fee to do a thorough cleaning. The college environment provides a great opportunity to market and validates the services or products your offering.

Gone are the days when students used to wait until after graduating to start job hunting. Furthermore, active participants in the global economy are those who are opting to start their own businesses instead of hoping to get employed. Moreover, with the high cost of living, many students are struggling to make ends meets, and even after graduating, they end up with massive student loans. Starting a business is an excellent avenue for supporting yourself, gain experience that will impress any employer, and live a debt-free life.

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