How to Launch a Low Risk Start-up While You’re Still in College

Low Risk Startup Ideas

Reasons to Start a Business While in College: Low risk

What have you got to lose? You don’t own anything, you have few commitments relative to later in life, and the worst-case scenario is that you go back to doing what you’re doing now.

This isn’t to say you should take a casual approach to start a business. Your years in college will be over before you know it, and suddenly the risks will be larger. You probably have time to start one serious business venture per year of college and within 12 months figure out if it’s going to work out or not. Maybe you’ll get it right the first time, maybe you’ll pivot, maybe you’ll quit and start something new. The sooner you can test your ideas, the better.

Are there negatives to starting a business while in college? Sure, you might spend some money launching your business and you’ll lose sleep. But these investments will pay off in other ways both tangible and intangible, making it a rewarding experience you’ll always be grateful for.

Pedro Pachuca is a sophomore at UC Berkeley studying electrical engineering, computer sciences, and business administration. He’s also the co-founder of SportVue, a start-up aimed at revolutionizing the way sports players train. Pachuca started the company during his freshman year with his friend and roommate, James Li. He says college is a great time to start a business because it’s a lot easier to seek out help and mentorship.

“People want to help you if you’re in college because it’s like ‘Ooh, bright new talent,’ rather than being right out of college where they see you more as a competitor,” Pachuca said.

And, then there’s the financial aspect.

“It’s actually less risky to do it now than later because right now you’re under the umbrella of school, and some of us have the umbrella of our parents,” Pachuca said. “If this was right after school, then you’re going to have to support yourself and you’re gonna have to turn to venture capital much faster and dilute equity much faster.”

Canva: She founded a unicorn by 30. Now she’s taking on the tech giants | Make It International

Now, you are sitting at your desk, and you are thinking about what business to begin. You have considered a few ideas, but you don’t know which one is the safest. Don’t worry! Here is a list of safe and profitable businesses for entrepreneurs who want to start their firm but need some help deciding which business idea to launch.

Offer Tutoring

Tutoring is a safe business idea for someone with teaching skills looking to avoid administration. With tutoring, you guide a student in an academic subject that you know, such as school subjects (Math, Science, English), foreign languages, professional accreditation, and life skills (public speaking, meditation, and cooking).

It is easy to start your business by working from home. You can advertise your tutoring services online through sites like Tutor.com to reach clients.

App Development

While it might seem like there’s already an app for everything, the potential to create millions of apps for entertainment purposes or to solve everyday problems still exists. This startup idea can ideally suit tech-savvy students, but anyone can create a popular app with the right support during production and a great idea.

If you don’t currently have an app idea, don’t worry. Start brainstorming ideas by conducting an audit of daily tasks or problems an app could simplify or solve. Many of the most popular apps solve a common problem, making them more likely to have widespread appeal.

Podcasting

This is another excellent way to earn income while working from home and one that could be very lucrative for those who have an audience already in place. Just think of all the different types of podcasts out there, from comedy to political commentary. These are the best ways to monetize your podcast to make income.

Blogging

If you love sharing your interests, experiences, and ideas with others, starting a blog may be a great startup idea for you. Blogs can focus on a variety of topics, including your own life. The goal of a blog is to convey information about a subject to interested readers in an engaging way.

To get started, you’ll need basic writing skills. You also should consider including photography or other visuals on your site. When choosing your blog’s topic, be true to yourself and your interests or experiences. The most successful blogs have a genuine and authentic voice, allowing the authors to truly connect with their audience and build a stronger following.

Freelance Writing

If you’re a skilled or talented writer, freelance writing might provide a great way for you to make money as you pursue your education. Freelance writers of all kinds are in demand by businesses and publications looking for temporary employees to write blog posts, articles, and other content.

One of the biggest benefits of freelance writing at a younger age is that you’ll gain experience that can help you later on as you establish a career. Sites like Upwork® and Writer Access® provide a secure platform for businesses and freelancers to connect.

Become a Reseller

Becoming a reseller is an excellent safe startup choice for beginning entrepreneurs. You can start your resale businesses with low startup costs, less danger, and potentially higher profit margins since you are not buying lots of costly new inventory.

Open a Dropshipping Site

Starting a dropshipping business may be an excellent way to become an entrepreneur if you are skilled in marketing and sales. One of the safest businesses to start is a dropshipping website. You can create an income without having to worry about storing or shipping products yourself, as third-party vendors handle them.

First, start by promoting your products on a blog or any other marketing channels available to you, such as social media and online forums. Then, when customers make a purchase, you send the order to the supplier, who will then complete it. You can use reputable services like Doba or Orbelo to help get your business off the ground.

College Care Package Business

Going away to college often represents an exciting adventure. For families and friends seeking to support their favorite college students, a college care package business can take the guesswork out of what to send them with thoughtfully curated packages.

One benefit of starting this type of business is that you can operate it completely online. That’ll reduce your overhead costs and give you more freedom for your busy schedule. Offering a variety of packages for different types of students with customizable options will set your college care package business apart from the competition.

Social Media Influencer

A successful social media influencer almost always understands how to create and effectively market a brand. If you think you’re up to the challenge, this can make a lucrative and exciting startup idea.

Influencers earn money through brand deals. Because every industry has influencers, you’re more likely to generate a large viewership and build a strong brand if you focus on a specific industry or niche for which you have a passion. In addition, you’ll need to feel comfortable with public speaking and connecting with your audience to attract brands that want to work with you.

YouTube Channel

YouTube has billions of subscribers worldwide, which means the platform offers a great opportunity for new channels and video content. Starting your video channel can represent another form of blogging (called “vlogging”) or provide a space for you to teach a skill or share a hobby. If you have a passion for ceramics, for example, you could start an entire channel about your process from clay to kiln.

Social media platforms focus on making connections, and YouTube is no exception. Every industry or hobby has the potential to connect with thousands of YouTube subscribers, which you could parlay into a lucrative business venture.

Livestreaming

If you already spend a lot of time playing video games, why not make it a business venture? Livestreaming essentially involves broadcasting live footage of your game as you play, using a platform like Twitch or Smashcast. Once you obtain the minimum number of followers (e.g., 500 on TWITCH), you can become a partner of the live streaming site and begin to make money based on the traffic your streams generate.

Graphic Design

Many businesses and organizations need graphic designers to create visual branding for use on everything from signage to marketing materials. Because graphic design is a fairly broad industry, having a multifaceted skill set can prove extremely beneficial. For example, proficiency in logo design, as well as typography or web design, can help you book more clients and build your portfolio.

Errand-Running Service

Busy professionals, small businesses, and seniors typically need help running errands they can’t get to themselves. This could involve going to the post office, picking up dry cleaning, or taking a pet to a vet appointment.

To get started, you just need a vehicle, a phone, and some spare time. You can operate your errand-running business from home and market your services on bulletin boards at community centers, senior centers, or anywhere you can post a flyer with your information.

Event-Planning Business

Managing all the details required to host an event can feel overwhelming to some people. Event-planning businesses address this by taking care of all the tricky aspects of hosting and planning weddings, corporate events, and more. Because most events occur on weekends or during the evening, this startup idea can ideally suit entrepreneurs currently pursuing their education.

To start a successful event-planning business, you’ll need good organizational and communication skills. In addition, establishing connections within the industry with event spaces, florists, and furniture-rental companies can prove extremely beneficial.

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