A 2018 study by Georgetown University found that 7 in 10 students work while in college, according to a report on Research.com. With the high cost of tuition fees, textbooks, accommodation, and extracurricular activities, life as a Student doesn’t come easy. Oftentimes, you’ll find yourself in need of extra cash to cater to your expenses. The good news is you can make money as you study by doing online paid surveys, paid internships, or becoming a waiter during your free time.
You can also go a step further and start a profitable Business while studying. Many successful entrepreneurs launched today’s popular brands in college. For example, Mark Zuckerberg created Facebook when he was a sophomore at Harvard.
There’s also Matt Mullenweg, who made WordPress when he was a freshman at the University of Houston. With this in mind, launching a business creates room for unlocking the power of your hobbies, networking, and generating high profits. Keep reading to learn a few entrepreneurs’ tips on how college students can make money.
Start a Food Business
If you enjoy cooking, consider showcasing your culinary skills to the public by starting a small Food business. For example, you can start baking cakes and cookies in your kitchen and sell them to stalls in the campus or to your colleagues directly. You could also cook and deliver food to other students, offer cooking lessons, or start a food cart or truck business.
Setting up a food cart business can be lucrative for any college student, but there are laws and regulations you need to follow. When selling food to the public, local authorities require you to apply for a license and provide allergen information to ensure your food is healthy and safe for customers. So, take time to understand the food safety policies in your region and register your food business with the authorities. Equally important, ensure your food is delicious and affordable to attract customers.
Design and Sell Craft Products
Starting a crafts business is inexpensive and opens up a world of opportunities to enhance your creative skills and earn money. If you’re artistic, you can spare a few hours after school to design crafts and sell them at a profit. Popular crafts you can make at home or in your hostel include candles, jewelry, bath bombs and soaps, wood carvings, pottery, framed art prints, and pom pom rugs.
The beauty of a crafts business is there are several places you can sell your handmade items. For example, you can set up a small stall at the local market or sell your crafts online in marketplaces like Etsy and eBay. You could also take advantage of college events for creatives to showcase your artistic skills and sell crafts to your colleagues and visitors.
Offer Tutoring Services
Tutoring is a common side hustle for university students because it allows them to create a flexible schedule around their studies and the pay is decent. According to Indeed.com, full-time tutors can earn an average salary of more than $54,000 per year, while online, part-time or contractual tutors make $12 to $26 per hour. The key to enjoying these perks is finding online tutoring jobs for college students. First, identify a subject you excel in, like English, Science, or Math. Then, find students of any age and education level in your neighborhood or campus that need tutoring services.
If you wish to offer online tutoring lessons, consider enrolling on platforms like tutor.com, Wyzant, Preply, VIPKids, or Chegg. Alternatively, you can create a website where students can log on to and access course materials and lectures. Unlike many businesses, you don’t need a license to provide tutoring services. Plus, you can set higher rates, especially for specialized tutoring lessons. However, there are several considerations to succeed as an eLearning tutor. This includes investing in the right tech, such as a laptop with a webcam, microphone, video recording software, video hosting platform, and course creation. A learning management system or LMS is also crucial to ensure you organize lessons, track students’ performance, and share lessons or course materials from anywhere.
Become a Freelancer
Providing freelance services while studying is another perfect way of gaining financial freedom. There are many freelance services you can offer, including copywriting, which revolves around writing white papers, blogs, news articles, and case studies. If you have photography skills and the right equipment, why not become a freelance photographer or videographer? Other popular freelancing services include website development, software development, graphic design, data entry, or translation. Whatever skill you possess, freelancing is a low-risk way of building a niche business and finding a loyal customer base.
There’s no doubt your time in college is the best. However, life as a student at the university can be expensive because of the high cost of tuition, accommodation, and course materials. For this reason, you’ll want to earn extra money while studying. And the best way to do so is by leveraging your skills to start a small business. You can choose to launch an online tutoring business, design, and sell crafts, start a food and beverage business, offer pet sitting services, or become a freelance web designer, videographer, or copywriter.
The post Entrepreneurs share tips on How College Students can make Extra Money while Studying appeared first on Exeleon Magazine.
