Small Business Ideas for Undergrads

If you are anything like me, you are frustrated with the fact that you can never get ahead in college. You work like a dog, study like a dog, and then eat…well…like a dog: a dog that eats ramen noodles that is. Maybe your student loan debt account is beginning to look like you bought a new Porsche, not tuition. And then your job let me guess, $7 an hour making follow up calls to rectal thermometer customers? Have you ever thought about trying to make money on your own and finally getting ahead financially? If you have you are not alone, millions of entrepreneurial minded undergrads want to start their own money making venture but simply don’t know where to start. Well, let me give you a few ideas and tips from the helpful folks at www.

TeenBizIdeas.org, an organization designed to help people students like you start their own business.

First, look at the skills that you have. Is there something you did at a past job that you became really good at? Are you good at selling? Are you a people person? Do you have a knack for fixing things? I had a friend who had built special computer cords used with construction equipment. His employer had paid him $12 for each 3 cords he made; and since he could make 2-3 an hour it was good money. However, he knew the parts cost only $45 a piece and each unit sold for $175. After a few emails and calls to some cord distributors he was in business making $300 an hour. Second, look for needs specific to your location. Do you live by a large tourist attraction or in a place where a yearly event takes place that draws large crowds? One undergrad I know was an avid snowboarder at a local, somewhat posh, ski resort. After talking to some of the skiers on the lift that were visiting from out of state he realized many needed to get their skis waxed but didn’t know where to go. They were spending $300 a night for lodging and skiing on very expensive, very unwaxed skis. So he set up a night waxing service. He would pick up skis at night from local hotels, wax them up, and have them back in the morning before the guests left for the hills.

Third, listen carefully when people start to whine or complain as unpleasant as it may be. If people say things like, “I would give anything to be able to...” or “Why isn’t there a such and such in this town…” listen carefully and take notes, they are giving you business ideas. Always be listening and thinking of new money making strategies. One recent high school grad noticed that all the parents in his neighborhood whined about all the door to door salesmen that knocked daily on their doors, often during a meal. So he bought a handful of “No Soliciting” signs from the local hardware store, and sold them like crazy door-to-door by simply saying, “What would it be worth to you for me to be the last salesman you ever see?” Be creative, don’t up and quit your current job with the idea that you will be a million before the week is out, but start thinking and jotting down ideas and plans. Be aggressive with the ideas you choose and don’t give up. Making $15 an hour on your own is easy and you will find that out very easily. For more business ideas and tips for making money as an undergrad check out www.teenbizideas.org and spend some time checking out what they have to share.