There are even a lot of ways to start a business without very much money. Here are 5 low cost businesses that college students can start.
1. eBay Store
Is there anything that you particularly love to buy online? Do you know exactly where to find the rarest items within this field and where to find the best deals? If so, then you might be great at running an eBay business. You can start by selling a few things that you already own, or that you can find fairly easily. Once you've grown a small bit of capital, you can start to stock up on items and sell them to the public for a profit. The more rare the item is, the easier it will be to increase your profit margin.
2. Etsy Shop
If you are a very crafty person, then you might want to open an Etsy shop. It doesn't matter if you're a seamstress, a jeweler, a toymaker, or if you like to build decorative items. If you have a knack for making beautiful and unique items that aren't too expensive, then you can start a shop and advertise for yourself on social media. Plus, if you go to a large school, like University of Cincinnati, you can advertise to students on campus and cut out the hassle and the cost of shipping.
3. Tutoring Service
Are you pretty smart? Do you have several friends who are pretty smart? If so, then you might want to look into starting a tutoring service. You can get a few of your smartest friends together and start a service that you can advertise to the public. You can charge a certain amount per hour for your time tutoring, plus you can charge a finder’s fee for any subject matter experts that you refer your clients to. That way, you are making a little bit of extra money whether you or someone else from your network spend the time tutoring a student.
Are you great with kids and know a few friends who are too? If so, then nannying could be a great college business to start. You can effectively get paid for doing your homework since you can always jump into studying once you've put the kids to sleep. Watching kids is great because you also get practice for when you decide to start a family yourself, plus, the pay is usually pretty good. Just make sure, if you decide to start a full nanny service for multiple clients that you choose to exclusively partner with other nannies who are professional, reliable, and great with kids.
5. Catering Service
If you are great at making any type of food - whether it is desserts, baked goods, appetizers, or ethnic food, then you should consider starting a catering business. If you love to cook (and you are good at it), you will find no shortage of people who are looking for people like you to cater their events and parties. Just make sure that you always maintain superior standards in hygiene and professionalism.