The days are gone when students depend financially on their parents until graduation. According to the CNBC report, more than 60% of students want to start their own businesses instead of doing 9-5 jobs. Nowadays, every student wants to be self-independent, which eventually boosts their self-esteem.
However, starting a business is not easy. Students may face challenges such as finding a successful business idea, obtaining finances, marketing, and more. One of these prime challenges is choosing the right concept from countless startup ideas.
In this article, we’ll share some top startup business ideas for students who want to start their businesses. Let’s start by understanding what a business startup is.
What do You Mean by a Business Startup?
Generally speaking, the word startup means a new company founded by a single person or a group of entrepreneurs. This business starts with a unique idea to sell a product or service, and the investment comes from the founders of the company. With time, this new company made a place in the market and turned into a giant venture.
According to Steve Blank, the primary aim of a business startup is to find a reputable business model. However, these companies are launched with high investment and limited resources; therefore, sometimes, it is difficult for founders to make this venture successful.
Before moving further, let’s read the key points of this guide.
Important Points:
- In this fast-paced world, where everything is digitised, students can now start their businesses easily with little investment.
- The most crucial step is finding the right startup idea that is profitable and cost-effective.
- In this article, we’ll share some of the best business ideas for low investment for students. These ideas include becoming an online tutor, wedding planner, chef, virtual assistant, bookkeeper, social media influencer, and writer.
As you have understood what a startup company is, now it’s time to move one of the top business ideas for students.
8 Best Startup Ideas for Students with Low Investment
Starting a business requires a huge investment, which is why it is difficult for students to start their business with a low investment. However, there are some low-budget business ideas on which they can work. Continue reading this article to explore these ideas.
1. Start a Wedding Planning Business
A wedding is one of the most memorable events of everyone’s life, and everyone wants to organise this event in the best possible way. However, managing all these things is not possible for a single person as he may be busy with his work or have a shortage of time. Whatever the circumstances, he needs a person or team who can make his event memorable.
Starting a wedding planning business is the best startup idea for students as it needs a small investment. Moreover, the primary perk of this venture is you can manage wedding events while doing your university assignments. Also, starting a wedding planning business can turn into a high-profit business with little investment.
2. Provide Drop Shipping
Providing drop shipping services is one of the most effective startup ideas for students. Drop shipping is an innovative business model in which you retail online without storing the products. To start this business, you just need to create an online store and collaborate with a drop shipping supplier.
When a customer places an order on your online website, you have to forward it to your drop shipper. The rider will ship the order to your customer and give you the payment for the order. You have to pay the supplier for the product and get your profit percentage.
3. Become a Social Media Influencer
Becoming a social media influencer is one of the most profitable startup business ideas on which students don’t need to spend even a single penny. The prime reason for the popularity of this business is the booming social media platforms such as Tok-tok, Facebook, Instagram, etc. Are you thinking about how these apps can be a good business idea? The answer is simple.
Nowadays, more people are earning from social media than the entertainment industry. Brands are now paying hundreds of dollars to social media influencers to promote their products. Do you know that the star footballer Christian Ronaldo charges $1.6 million for just one post on Instagram? We know this is huge. So, to become a social media influencer, you just need to create an account and start building your fan following.
4. Teach Online
Do you have proficient skills in your subject matter? Then, you can become an online tutor and start teaching students how to do smart learning. This is one of the most easy and quick startup business ideas as you have a skillset for starting this business. You can opt for any subject in which you excel, such as Math, English, Science, etc. These days, many parents are looking for online tutors for their school-going children who can give them personalised attention.
To start this business venture, you just need a laptop, a good internet connection, and a vacant place where you can sit while giving a class. You can start by teaching students nearby and building your brand. Once you earn enough money from them, then you can spend this money on advertising your brand.
5. Offer Bookkeeping Services
If you are good at numbers, then why not start your startup business by providing bookkeeping services? You can offer your bookkeeping services to local businesses to manage their accounts. If you are good at bookkeeping accounting, then it is well and good. But if you don’t know how to manage books, then you can take a short course to learn.
This business is best for students who want to start their business with low investment, as they can even begin it from home. Small businesses are always looking for dedicated people who can manage their accounts effectively. So, if you find this field intriguing, get involved in it.
6. Start Cooking Classes
If cooking is your passion and you are a good cook, then teaching cooking classes is one of the best start ideas for students. You can earn a handsome amount of money by turning your passion into your career. Initially, you can start with four or five students and give them cooking classes online. Through this initial teaching session, you will learn how to teach others how to cook delicious food.
Furthermore, when you get experience and earn enough money to set up a setup in your home kitchen, you can create a YouTube channel. With regular posting and gaining a massive fan following over time, you can start earning from this channel.
7. Become a Virtual Assistant
If you are good at administrative tasks and want to get involved in the corporate world but don’t have time to do a 9-5 job, then don’t worry. You can start your business by providing virtual assistant services to your local business. As a virtual assistant, you need to manage your clients’ administrative tasks remotely. These tasks include attending phone calls, scheduling meetings, travel appointments, and more.
You can easily find this job, as all business owners, regardless of the scale of their business, need virtual assistance for managing their day-to-day tasks. You can find this job on any online job site and showcase your skill set to ensure you are eligible for the role.
8. Provide Writing Services
If you have good writing skills, then it is one of the most cost-effective startup ideas for students. You can become a freelance writer by offering your writing abilities on an online platform or launching your website, where you can offer writing services to students or businesses. These services can include SEO content writing, assignment writing services, or even proofreading or editing.
These writing services not only generate handsome revenue for you but also polish your writing skills, which will be beneficial for your academic career. You just need a laptop and a strong internet connection to start this venture.
Conclusion
Starting a business venture during college is not as easy as most students think. The most important step in this business is to find the right idea among the countless startup ideas for students. A good idea can make a student a young entrepreneur, while a bad one can put him in a financial crisis.
In this article, we have shared the top profitable business ideas for students with low investment, including becoming an online tutor, wedding planner, chef, virtual assistant, bookkeeper, social media influencer, and writer. You can choose anyone from them who best suits your interests.
