The students who are currently in college fall in the category of millennials. There is no denying the fact that this new generation has some entrepreneurial sense. Dig out the stories of successful start-ups and you will find most of them were undergraduates as well who had big dreams. Youngsters have realized that they don’t need a college degree to be successful. If you have a dream and you are willing to stick to it, anything is possible. Even if you don’t have a brilliant business idea for a startup, you can still get started with a business. There are so many low cost business startup ideas to choose from.
Why Students Must Start a Business?
You might think you don’t have spare time but believe me, this is the right age and time to start a business. Here are some reasons why:
- Access to a fast Internet connection on campus
- Free consultation from teachers and professors
- Apply the concepts learned in the classroom
- Honest feedback from friends
- Hands-on experience even if you fail
Top Low Cost Business Startup Ideas
Wondering what business to start? You don’t need a million-dollar idea. Have a look at these ideas that don’t cost much money to start but can pay off well:
#1: Consulting
You can offer consulting services in any area you have knowledge or experience in. It can be related to any specific software, legal advice or how to make your business green. For this, you must possess ample knowledge as well as experience.
There will be some costs involved related to marketing your business, networking, and creating a business card.
#2: Moving Services
Just look around your campus and you will find so many students who need help with moving. Since moving is always a pain, people are always willing to outsource.
Did you know that you can make up to $200 with a single moving job?
This business will give you the liberty to work from wherever you want. Such low cost business startup ideas have a catch though.
Heavy lifting is involved so you will have to do a lot of physical work.
If you have a large network, spread the word about your service. Use social media or create flyers and spread them across the campus.
You will be amazed to see how many people show interest in your services.
#3: Pet Care Services
For most owners, their pets are like their babies. They are willing to spend so much of their income on their pets.
You can make a lot of money if you tap into this industry. Pet care services include grooming, training, walking, and pet sitting.
#4: Dorm Cleaning Service
Students are not that great at keeping their rooms clean. This is a perfect opportunity to market your dorm clean services.
To market your business, you can go door to door in the dorm buildings and ask if anyone needs cleaning.
You will just have to buy some cleaning supplies and apply for a business license first.
It’s among those low cost business startup ideas that have the potential to grow. You might be able to spread your services to another college or university.
#5: Start Tutoring
What’s the subject that you are great at? It could be math, geography, chemistry or even essay writing.
Use your skills for making money. Within your social circle, you will find lots of students struggling in areas you excel in.
You can tutor through the tutoring center of your college peer or you can register yourself as a tutor at your school.
You can also start this business independently. Leave some flyers in the library. The students who need help will find you automatically.
#6: Lawn Care or Snow Removal Services
Don’t confine your services to the college premises. Spread your wings outside the college campus.
You will find a lot of homeowners who need help with lawn mowing in spring and snow removal in winters.
To offer these services, you will need lawn mowing equipment, chainsaw, weed wacker, and other tools. These tools are expensive.
Therefore, you can only start the business if your familiar with these services and you have the equipment.
Lawn care and snow removal require a lot of strength and manpower. But the revenue is great.
#7: Photography
Do you like taking pictures of interesting things?
If this sounds familiar, photography services is another one of the cool low cost business startup ideas for you.
You must have a good camera first and then some basic photography skills. If it’s your hobby to take pictures, you might have these two already.
Market your services by starting a Facebook page. Post your pictures and let the world see your work.
You can also offer photography services for certain events like baby showers or birthdays. People are always looking for a talented photographer at a low price. Such people could be your initial clients.
#8: Start a Podcast
Podcasts have become a lucrative way of making a sustainable income. If you are good with computers, you can start this business right away.
However, it takes time and effort to be successful with a podcast.
First, you will need a niche. It could be anything you are interested in like electric cars or organic food.
Then, you have to create a podcast about that niche. Share facts, interesting information or maybe interview well-known people in the industry.
Once you are certain you have listeners, look for sponsorships. Companies look for podcasters to sponsor their products and services.
They are willing to pay you more than $2000 per month to just name their product. All they want is for your target audience to hear their message.
#9: Start a YouTube Channel
YouTube is a great source of earning even while you are asleep.
The revenue comes from ads. It is one of those low cost business startup ideas from which anyone can earn. There are no limitations with respect to age, gender or location.
First, you need to create a channel on a specific industry that you have knowledge and understanding about.
Then, you have to create videos and upload them on your channel. That’s not all, you must have subscribers and an audience that engages with your content.
YouTube will allow you to implement ads on your videos. You will get paid from these ads. For further monetization, you can even launch your own website.
#10: Sell Cakes and Cupcakes
Do you love baking and you are good at it too? Start your home-based cake and cupcake business.
You will need investment to buy the ingredients. To market yourself, start with a Facebook page. You can also ask your friends and family to spread the word.
Additionally, it’s best to create your own website.
If people like the taste of your cakes and cupcakes, they will definitely order again. As the business grows, you can open your own shop.
#12: Make Personalized Meals
This business idea is again for those who are good with cooking food. You can start a service particularly for the seniors who have to watch what they are eating.
Most people fail to stick to a diet because they don’t have time to cook healthy meals at home.
Consider this an opportunity. That’s literary how low cost business startup ideas emerge. If you own a car, that’s even better. You will be able to deliver the meals to your clients by yourself.
You will need some investment to buy ingredients. Then, you will need a website and business cards to promote your services.
#13: CV Writer
Are you great at CV writing? Trust me, there are so many students who could use your help.
If you are good, they will happily pay you to make their CV professional. Help a few students and ask them to spread the word.
Before you even know it, you will start gathering clients.
#14: Fitness Trainer
This idea is not for everyone. You need to be a fitness specialist to start this business.
Everyone wants an amazing body. Finding people whom you can help get in shape is easier than you think. They could use all the help you can give.
#15: Proofreading Services
Are you a complete whiz when it comes to grammar?
Then nothing can better than starting your own proofreading business. It is a low-cost idea. You will be working from home.
All you need is a stable Internet connection and a computer. It is good to have a website too. Back when I started-off, Spectrum Internet support was affordable.
Moreover, I was getting just the right speed to manage the business. If the business has two or more partners, then dividing the cost will make it even more affordable.
Trust me when I say that starting a business on a budget is not impossible. Some of these ideas require an initial investment and some do not.
At the very least, you will need an Internet connection to market your services.
With a comprehensive business plan, you can successfully launch a business even if it is based on one of these ideas.
