business plan of a college

How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

College Business Plan

When you think of a college business plan , what is often the first thing you think about? The majority may say a business idea of setting up a college or a university for local and international students. Another may see it as a school that offers business as part of their academic course. What reason may it be or what idea you may have, it is always best to have and match it with a business plan. Making a college business plan will also matter and help you in the long run. With that, here are example templates you can download to start now. 

10+ College Business Plan Examples

1. college business plan template.

• Google Docs

2. Centennial College Business Plan

Size: 586 KB

3. Professional College Business Plan

Size: 895 KB

4. College Business Plan in PDF

Size: 122 KB

5. Developed College Business Plan

6. College Leadership Business Plan

Size: 167 KB

7. National College Business Plan

Size: 181 KB

8. Secondary College Business Plan

Size: 314 KB

9. Operational College Business Plan

10. College Business Operation Plan

11. Community College Business Plan

Size: 235 KB

What Is a College Business Plan?

A college business plan is a handy tool used in order to guide the user to better success and better roads. When you think of starting up a college, or adding a business course to a college, you will also need a business plan with it. A college business plan is seen as a means of gathering steps to making it work. May it be through a simple business plan or a complex one. Regardless, the main purpose of a college business plan is to gather steps or strategies to reach the main goal.

How to Create a College Business Plan

When you plan to make a college business plan, you think carefully about the steps that go with it. The most basic thing to see in a college business plan is the summary of your business and of course the marketing strategies. But these are not enough to make your business plan. To get a good idea, here are simple steps to create your college business plan.

Step 1: Always Plan Ahead

This may sound cliché but the most important thing to remember and to get started is to plan ahead . Do some brainstorming and get to know what you want in your business. This helps by making your college business plan better and can reap a better and positive result. Part of planning ahead is to plan for a title page, a title, or a goal you want to achieve. This can sometimes come off as the most difficult part of the entire business plan.

Step 2: Create Your Executive Summary

The next will be to create your executive summary . In this section of your business plan, you will be talking about your business, the timeline of your business, and any information that will help you explain about your business. Basically the executive summary gives you the opportunity to expound on your business and the description and nature of your college business.

Step 3: Discuss Marketing Strategies

Third step to your college business plan is to discuss marketing strategies . Marketing strategies help in maintaining your business goals. If you are not sure where to begin with your marketing strategies, you can always make a marketing strategies checklist . As this also creates ways in helping you figure out how to attract customers or clients to your business. They must also be practical for your business and your management team to do, or the whole marketing plan and strategies will be pointless.

Step 4: Check on Your Business Plan

From the first three steps to creating your college business plan, you may think that everything will be enough. You must be open to checking, updating, and reviewing your college business plan. The whole point of it is to make sure you are open to the ideas of updating progress reports you are going to be getting through the business plan milestones.

What is a business plan?

A business plan is a lengthy document that has a complete detail of how a business you plan to set up is recorded. The business plan is also seen as a tool or a roadmap to help you find out the best roads to setting up a successful business.

Why do you need to update your business plan?

The main purpose for updating your business plan is because every progress is important. Every single detail that may show positive or negative changes have to be reported in order to keep your business plan updated as well.

What factors are in a business plan?

The factors you need in order to complete a business plan are the most simple and basic things like:

• executive summary
• practical strategies and steps
• a practical timeline and milestones

When you think of a college business plan, you know for a fact that you will need to make the business plan in a practical manner. Your business plan must have everything that you need to make this a success. With that, download any of the examples to start your college business plan now.

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20 Business Ideas for College Students in 2024

Starting a business in college opens up opportunities beyond what’s offered in the classroom. Browse business ideas you can implement from your dorm room.

While summers typically bring sunshine and a chance to relax or travel, for college students the season presents a different opportunity. Starting a small business while you’re still in college can help you reduce tuition debt and earn real-world experience in the summer months. It may even become a flexible side gig once classes resume.

Even better news: There are ways to design your summer around something you enjoy, where you make money online while setting your own hours. There is no shortage of clever small business ideas for college students. But which one is right for you?

Ahead, explore low-barrier business ideas you can implement with little to no upfront investment or experience. The future is bright for those who seize it! 

20 business ideas for college students

• Sell handmade goods
• Start a tutoring business
• Sell digital products
• Start a neighborhood service-based business
• Try dropshipping
• Become a content creator
• Become a reseller
• Sell print-on-demand goods
• Become a freelancer
• Create experiences
• Sell at pop-up shops and markets
• Run a summer camp program
• Offer technical services
• Start and monetize a podcast
• Create and sell student resources
• Start a community-focused business or non-profit
• Innovate and develop a new product
• Organize on-campus events
• Try affiliate marketing
• Offer branding and marketing services

Whether you’re fresh out of high school or you’re on break before your senior year of college, this is your moment. When else in your life will you have this much time—and youthful energy—to make a leap? 

There are plenty of profitable business ideas for college students that require no startup costs, and can even be run from your home (or dorm room).

1. Sell handmade goods

If you’re creative, take a break from the books to work with your hands and sell handmade goods . You can sell your products through an ecommerce store, online marketplace , or in-person events like a local market. There may be opportunities to sell or market your goods on campus, too. Check with your student administration for rules around commercial activity on school property. 

🧼 Success Story: How Katie Carson Build a Soap Empire on YouTube

Royalty Soaps was born after its founder—then a high school student—gained a loyal YouTube following for her soap-making content. 👉 Read Katie's story

2. Start a tutoring business

3. Sell digital products

This is one of the best business ideas for students living in cramped apartments or dorm rooms. All you need is a computer and your creativity. If you’re studying design, try creating templates or printable digital art to sell online . In a music program? Create beats or short music clips to license for commercial use. 

4. Start a neighborhood service-based business

5. Try dropshipping

6. Become a content creator

Angelina Li started making her own slime at age 14, documenting her experiments on TikTok. After she went viral, she built Fireflyslime , running the business while attending college.

If you’re already a minor superstar on a social media platform like TikTok , YouTube , or Instagram , consider leveraging your growing audience to make money. Do sponsored content or set up an ecommerce store to sell merch to your fans. If you’re starting from scratch, the key to building a following on social media is finding a niche market and creating consistent, engaging content that speaks to your target audience .

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7. Become a reseller

8. Sell print-on-demand goods 

Selling print-on-demand goods is another great option for starting a business on a low budget, and it’s one of the easiest online business ideas for creatives. If you have artistic skills, you can print your designs onto anything from t-shirts to mugs. This business model is a great startup idea you can launch in your free time and run without much oversight.

9. Become a freelancer

10. Create experiences

As a hospitality student, you may consider testing your skills by creating experiences. Can you build and sell local experiences to tourists, for example? Think biking or culinary tours of your city’s favorite spots. University students can offer a unique perspective of the place where they study. In person or virtual classes can also fall under this category. Have a skill and a knack for teaching? Advertise DIY workshops or online marketing courses.

11. Sell at pop-up shops and markets

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12. Run a summer camp program 

13. Offer technical services

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14. Start and monetize a podcast

15. Create and sell student resources

16. Start a community-focused business or non-profit 

If your goal isn’t to make money but to gain skills and experience, you could start a cause-based business that gives back to a charity or community organization that you care about. Otherwise, your for-profit business can still aim to donate proceeds to a cause of your choice. Consider worthy causes that are close to home, like providing support for students on financial assistance.

17. Innovate and develop a new product

If you’re in an industrial design program, you have access to the tools and software to help you develop a product. If you stumble upon a great invention that could solve a pain point, don’t wait until you graduate to bring it to market. Tap into campus resources to launch your business while you’re still in college.

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18. Organize on-campus events

19. Try affiliate marketing

Affiliate marketing is a great way to make money online with minimal effort, once you set it up. This is one of the best business ideas for students with already busy schedules. To get started, you’ll need an audience, whether that’s a loyal group of subscribers on YouTube or an engaged Substack email list. You’ll then embed affiliate links in your content, promoting another brand’s products and making a commission when it leads to a sale. 

20. Offer branding and marketing services

The benefits of starting a business in college

School can give you the academic backing to pursue your dream career, but starting a business teaches you valuable lessons you won’t find in a classroom. There are several benefits to pursuing a business idea in college—and it’s not too late to cash in on them.

Gain real world experience 

Sure, business school can teach you theory and formulas, but there’s nothing like doing business to learn the ropes. Experience helps make your résumé stand out from the competition. 

Learn hands-on skills 

Strengthen your skills in empathy, delegation, stress management , customer service , and more. Student entrepreneurs have a leg up on fellow graduates once they hit the job market. The skills you learn outside the classroom become just as valuable as those learned in class. 

Build your professional network

By the time you graduate, you already have a contact list full of people to approach for references, mentorships, and even jobs. This network can include faculty, other students, and members of the local business community . 

Try out an industry before you graduate

Studying fashion management? Run your own business selling clothes online to get a taste for the business. Have an interest in working with animals? Try your hand at starting a pet business , offering services to pet owners like dog walking or cat sitting.

Flesh out your résumé

As a new graduate, your CV may be pretty sparse. But if you run your own business in college, you can add “CEO” to your list of accomplishments.

Earn extra cash

Saving to pay expenses and minimize debt is a good idea if you want to lessen the burden after you graduate. A part-time retail job can also be a source of income, but when you’re the boss, the earning potential is up to you.

Enjoy an income source that works around your studies

The common struggle of scheduling a part-time job around studying and classes can add stress. Work on your business on a flexible schedule and then go all in on your summer break.

Gain job opportunities

Your experience running a business will expose you to other people and businesses in your industry. If you make a great impression, these connections could lead directly to job offers after you graduate.

Prepare for your future

One of the biggest takeaways from the FIRE movement is that the earlier you start planning for retirement , the earlier it can happen. Earning income through a small business in college means that you may be able to start saving and investing now. 

💡For parents and teachers: Know a younger student looking for a summer opportunity? Browse age-appropriate business ideas for students in Shopify’s guides to business ideas for teens and business ideas for kids and help them start a business that sets them up for success.

How do I start a business as a college student?

Which business idea for college students is best for you? In short, your startup should reflect your interests and leverage your strengths. Ask and answer questions like:

• What am I good at?
• What skills do I have that could benefit others?
• Can any of my hobbies or interests become a small business?
• What’s important to me and what are my values ?
• How much time do I have to commit to a small business?
• How much will it cost to start a business ?
• How can I leverage resources at my college to help me start a business ?
• What are my goals?

The answers to these questions will also become a foundation for your business plan and brand guidelines . 

Graduate ahead of the class

There are infinite small business ideas for students of all ages. College students should especially take advantage of this exciting phase of life to explore all possibilities for the future—and graduate with a leg up on your classmates. Whether you sell products or services online or find unique opportunities in your field of study, you could be making money now doing what you love.

Feature image by Alice Mollon

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Business ideas for college students FAQ

What is the best business idea for college students.

The best business idea to pursue while you’re still in college is the one that fits best with your schedule, skills, and interests. There are a number of services you can offer that would benefit your built-in audience of fellow students. Profitable business ideas with low upfront costs include on-campus tech services, print-on demand sales, and maker businesses.

What can I sell as a university student?

University students can sell anything, provided you check age restrictions for selling products like alcohol and understand local laws that govern the product or service you’re selling. Creatives can sell prints through a photography business or dabble in jewelry making. Sell your skill through consulting or paid online courses. The possibilities are endless!

What are low cost college business ideas?

Low cost business ideas for college students are those that do not require upfront inventory, specialized equipment, or other costs to get started. For a small fee, anyone can start a business by setting up a simple website to sell goods or services. Try the Shopify Starter Plan to get up and running right from your social accounts.

What’s the easiest business to start in college?

The easiest businesses to start in college is one with a business model that allows you to have a flexible schedule, a low barrier to entry, and low initial investment. These include affiliate marketing, selling digital products, virtual assistant services, and dropshipping.

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Business Plan Examples for Students

Ajay Jagtap

• December 29, 2023

26 Min Read

Do you know what’s the most common mistake students and rookie entrepreneurs make while preparing their first business plan?

Of course, it’s the first business plan we’re talking about; there’ll definitely be a few. However, overcomplicating things and failing to consider a business plan example still remains the most common one.

That’s why we decided to come up with a solution. We’ve curated this list of top business plan examples for students to help you get going.

So whether you need a business plan for a college project, start a side hustle, or win a business competition, these examples are just what you need to create business plans that stand out.

Ready to dive in? Let’s start by understanding the key elements of a business plan example:

Key Elements of a Business Plan Example

Business planning is not as complicated of a process as people think it is; they’re just overcomplicating things. (Don’t think so?)

Let’s simplify the key elements that make up a comprehensive business plan; you’ll understand it better that way.

• Executive Summary: A high-level overview or summary of your plan.
• Company Overview: A detailed description of your business idea, its fundamental elements, history, and future goals.
• Market Analysis: A study of your external business environment that includes details about your industry, competitors, and target market.
• Products and Services: Description of the products or services you intend to exchange for money.
• Sales and Marketing Strategies: A section outlining sales and marketing strategies your business will implement to achieve its financial goals.
• Operations Plan: A section outlining the business processes and daily activities involved in ensuring seamless business operations.
• Management Team: Introduction to your founders, key management, and their compensation plan.
• Financial Plan: Your financial plan is a detailed breakdown of your business’s financial projections and financing needs.

That’s pretty much it about the key elements of a business plan example. Next, let’s explore the best business plan examples for students.

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Top Business Plan Examples for Students

Now that you already know about the components of a business plan template, let’s review some of the best business plan examples for students.

1. Startup Business Plan Example

Upmetrics’ startup business plan example is the ideal solution for students planning to start up or participate in a business plan competition. This business plan template follows the SBA-approved business planning format used by thousands of successful entrepreneurs.

Whether your startup is about a new-age AI-based application, an online shopping site, or traditional IT consulting—this sample business plan is just what you need.

Unlike any traditional small business plan, this example of a startup business plan is lean and agile in approach, focuses on innovation, and emphasizes market validation.

2. Lean Business Plan Example

Since you’re transitioning from a student to an entrepreneur, you may not have enough time to spend on creating a detailed business plan. That’s where this lean business plan template can help.

It’s a condensed version of a traditional plan summarizing all its sections with a primary focus on covering only the critical aspects of the business.

This template is best for startups or businesses uncertain about business planning and student-turned-entrepreneurs with limited time and resources to prepare a business plan.

3. SBA Business Plan Example

Following an SBA-recommended business plan format is key to securing bank loans and business grants. Since it can be time-consuming to find a template that follows a similar outline as the SBA, this SBA-approved business plan example is the way to get started.

This SBA business plan template has nine primary sections, that include executive summary, company description, market analysis, organization, product description, marketing, funding request, and financial projections.

SBA business plan examples ensure you stay on track and don’t deviate from your funding needs.

4. One-Page Business Plan Example

As you may have already guessed, a one-page business plan is a one-page version of a traditional business plan. Since it’s a condensed version of a business plan, drafting it can be quite easy and quick compared to a lean or traditional plan.

Employees, partners, and vendors often use one-page business plans as a quick overview of your company and banks and investors as a summary of your operations.

While it may not be the ideal choice for entrepreneurs seeking investment or bank loans, students with side hustles and idea-stage startups can consider this option.

5. HBS Sample Business Plan

Harvard Business School’s new venture competition selected this sample business plan as a finalist in 2011.

This is a business plan of App Success, a collaborative web-based platform that connects low-income high school seniors with college students from top universities; this business will enable them to collaborate on college selection, college applications, and financial aid applications.

This example can be a great reference for those planning to start a mobile or web-based solution.

6. Kean University Sample Business Plan

Kean University organizes a business plan competition every year for its students where students prepare and present business plans to compete, and this is one of the sample business plans the University provides to participants to understand the format.

It’s a business plan of Blue Water Boatworks, Inc., a boat detailing and cleaning company specializing in servicing recreational fiberglass and aluminum watercraft.

This example can be a great reference for those planning to start a business related to housekeeping, cleaning, or maintenance.

7. UVM Sample Business Plan

If you are looking for a strategic business plan for a food business, the University of Vermont’s Fancy Foods Business Plan can be a guiding resource for you.

Despite the fact that it can be a good reference for detailed planning, it was written in 1998, so any statistics and numbers may not seem relevant to today’s market landscape. Make sure you keep that in mind.

You may closely follow this example as a reference if planning to start a food truck, restaurant, or any other business that serves food.

That was the list of best sample business plans for students. However, there’s more to talk about. You now have a business plan example, but what about pitching to investors? Let’s explore free pitch deck examples for students.

Free Pitch Deck Example for Students

Pitching to investors as a first-time founder can be exciting but also overwhelming at times. Worry not; we’ve got a solution—investor pitch templates. We’ve prepared a set of 8 investor pitch templates and examples for students and entrepreneurs to help create winning business pitches.

Whether you need a pitch to find an opportunity, ask for subject matter knowledge, or a problem-solving pitch, these investor pitch examples have got you covered. Download now.

How to write a winning plan for a business plan competition?

Creating a business plan is no different than creating one for a real business. Similar to how entrepreneurs prepare and present business plans to investors, Students in business plan competitions pitch to judges.

In short, the business planning process remains exactly the same. Let’s discuss how you can write a winning plan to help you win a business plan competition.

• Select a compelling business idea : everything starts with a compelling idea. Make sure you have a viable business idea to compete in the competition.
• Refer to winning business plan examples : Once you are sure about your business concept, refer to business plan examples from previous winners and how they planned the sections of their plan.
• Market Research & Industry Analysis : After referring to business plan examples, conduct industry research and market analysis to make your statistical and financial numbers accurate and realistic.
• Understand business model and revenue streams : Since you are preparing a business plan for a company that doesn’t exist, be sure about the business model and how the business will generate profit.
• Use AI business plan generator : Using an AI business plan generator like Upmetrics can be incredibly helpful in speeding up the business planning process. With industry-specific business plan templates and AI assistance to write your plan, you can write the first draft of your plan in literally no time.
• Presentation and visuals : Prepare visuals and graphs to make your business plan visually appealing and numbers digestible. You may not need to prepare these visuals if you use business plan software manually.
• Proofread and edit : Grammatical errors are the last thing judges want to see in a business plan. Make sure you proofread and edit your draft thoroughly before submitting it.

Easy as that, that’s the way to write a perfect business plan that can lead you to victory in any business plan competition on planet Earth. Let’s have a look at a real-life business and financial plan example.

Business and Financial Plan Example for Students

Having learned about business planning for students, let’s quickly discuss a coffee shop sample business plan and financial statements prepared using Upmetrics.

1. Executive Summary

The Cooper’s Cup will be a new cafe in Phoenix, Arizona. The 1,500 square foot café will be located in the newly constructed Market Square Plaza on the northeast corner of 135th Street and Mission Street. The anchor tenant, the Price Chopper grocery store, has already taken occupancy, and the excellent location brings more than 10,000 shoppers weekly.

The Cooper’s Cup, aptly named for the aromatic brown liquid that will fill the cup, fills the void of original cafes in the market and stands out from its corporate peers with its fast food concepts and prompt services. The Cooper’s Cup is the alternative to fast food/commercial/coffee shops and offers a much calmer, civilized gourmet coffee experience.

There are no televisions in the cafe, the background music is subtle, and work from local artists will hang on the walls. The restaurant is well-appointed, with overstuffed leather chairs and sofas in a library-like setting. The cafe is reminiscent of times gone by – yet is cutting edge technologically with WIFI and state-of-the-art espresso machines.

The Cooper’s Cup measures its financial success in terms of increased market share and earnings. This is a tremendous opportunity with a total local market of $54 million! The keys to success will be offering quality gourmet coffees, taking advantage of its small size, and relying on an outstanding barista staff.

To achieve these goals, the cafe will present some of the area’s finest gourmet beans from local distributors. Because of its small size, the restaurant can enjoy larger margins through lower overhead. The cafe will hand-select baristas and offer salaries comparable to the chains. The baristas will be trained to cross-sell and sell higher-margin products.

The primary objectives of the business plan for Cooper’s Cup are below:

• To increase revenues by $36,000 or 5% in Year 2 and $73,000 or 10% by Year 3
• Achieve a profit margin of 5.2% in Year 2 and 6.90% by Year 3
• Be the Cafe of Choice in the Phoenix area and the recipient of the Best Coffeehouse Award.

Guiding Principles

The Cooper’s Cup is committed to values such as excellence, passion, quality, integrity, and leadership, allowing them to navigate challenges and provide for future opportunities. These core beliefs start with their commitment to their products and their employees. Cooper’s Cup rewards excellence and cherishes loyalty. The cafe will work with its employees to build strong businesses and a secure future.

Mission statement

The Cooper’s Cup is committed to its products and employees, which they believe is the recipe for market success.

Key to success

The Cooper’s Cup stands out from the competition. Below are their Keys to Success:

• Great Products : providing exemplary products at market prices – will make customers want to return again and again.
• Hire Quality Baristas : Pay employees rates similar to the larger chains with opportunities for long-term careers and opportunities for advancement with long-term plans to open a second facility.
• Convert Customers to Connoisseurs : Only 40% of the nation’s coffee drinkers consume premium ground and whole bean coffee – this will aid in the continued growth.

Financial Summary

2. Business Overview

The Cooper’s Cup will be a coffee house/cafe located in Phoenix, Arizona. The cozy cafe will be located in the newly completed Market Square Plaza in the Arizona City area. The cafe will serve gourmet coffee, espresso, drip coffee, lattes, and smoothies. The simple pastry offerings may vary with seasonality, but the primary line will be muffins, bread, cookies, scones, and rolls. All pastries will be supplied daily by a local bakery.

The cafe will be owned and operated by Owen Jones, a veteran restaurateur with several years of experience running and managing chain restaurants. The cafe will be open for business Monday – Thursday 7-10, Fridays and Saturdays, 7-11, and closed Sundays.

The Cooper’s Cup will be formed as an S-Corporation owned by Mr. Doe.

Start-Up Summary

The Cooper’s Cup will have seating for 40 patrons. The rent is $2,075 a month, with a three-five-year lease available. The site comprises 1500 square feet of leased space consisting of a dining room, a coffee bar, two restrooms, and a storage room in the back.

This storefront needs to be plumbed and wired appropriately to be used as a restaurant. Painting, new floors, and countertops are also needed. A custom coffee bar needs to be built. With materials bought on sale and volunteer labor, the cost to renovate will be $71,725.

The coffeehouse equipment will consist of two commercial espresso machines, air pots and urns, a commercial blender, a commercial brewer, top-loading coffee bins, barista syrups, cold drink dispenser, frothing equipment, a commercial refrigerator, microwave, and stainless steel prep bar.

The cost of the equipment is $38,275. The furniture will consist of leather couches and chairs (purchased at auction), coffee tables, bookcases, and window treatments. The artwork will come from local artists and be sold on a consignment basis. The books were secured via donations. The total cost to furnish is $14,000. Other startup expenses will be dishes, furniture, rent deposit, and marketing.

Location and Facilities

The new coffeehouse is located in the highly desirable Phoenix, Arizona, area at the northeastern intersection of 135th Street and Mission Street in the Newmarket Square Plaza. The property is situated in an excellent location, with an easy 6-minute drive time to I-435 and 69 Highway. 

The property is 95% leased with Price Chopper as the Anchor Tenant. Other tenants include LifeSpring Med Spa, Jane’s Canines (Pet Store & Boarding), Pride Cleaners Kahn Dental, and Swim U. 

Price Chopper brings more than 10,000 shoppers per week to the center. The location comprises a population of 9,420 within a one-mile radius, 61,102 within a 2-mile radius, and 149,550 within a 5-mile radius – with a median household income of $120,856. Sprint / Nextel’s corporate office is within 2 miles of the site.

3. Market Analysis

Phoenix, Arizona, is an award-winning place to live and work and is considered the leading business community in the Midwest. National publications and organizations recognize Phoenix for its business environment and livability. Here’s a sampling: 6th Place, America’s Best Places to Live Money, Top 50 Cities to Live and Play, National Geographic Adventure, 3rd Hottest Town in the U.S., Money, Among 20 Best Places to Live & Work Employment Review, One of only 72 Sterling Tree Cities in the U.S., National Arbor Day Foundation, Top 10 best Locations to Raise a Family, Southern Business and Development, 1st Place, Kid Friendly Report Card, Population Connection, 2nd Best City in America to Live Business Development Outlook.

Phoenix is at the core of one of the most dynamic local markets in the U.S. It offers easy access to the Arizona City region’s amenities, and, as part of the Arizona City metropolitan area, it is within the most centrally located major market in the nation. I-35, I-435, I-635, and U.S. Highway 69 all pass through Phoenix, and no point in the city is more than 3.5 miles from a freeway. The city maintains an excellent arterial street network and plans to construct additional lane-miles as the area grows. Three airports serve the region. Arizona City International Airport (MCI) is just 25 interstate highway miles north of Phoenix. Johnson County Executive Airport—the second busiest in Arizona—provides complete services for private business jets and general aviation. New Century AirCenter, just 12 miles southwest of the city, offers available aviation services and accommodates cargo or passenger jets of any size.

Phoenix supplies some of the most highly educated workers in the nation, with 97% of Phoenix adults over age 25 holding at least a high school diploma. Johnson County, where Phoenix is located, ranks first among the country’s 231 counties with populations greater than 250,000. The county ranks sixth in the percentage of adults with at least a bachelor’s degree and 16th with a graduate or professional degree.

The Phoenix area has a population of 175,265, based on the 2010 census. The median household income is $77,881, and the median age is 37.9. (2010 U.S. Census)

Industry Analysis

The U.S. coffee shop industry includes about 20,000 stores with a combined annual revenue of about $10 billion. Major companies include Caribou Coffee, International Coffee & Tea (The Coffee Bean & Tea Leaf), Peet’s Coffee, and Starbucks. The industry is concentrated: the top 50 companies generate more than 70 percent of sales. Coffee shops are part of the specialty eatery industry, including retail outlets specializing in bagels, donuts, frozen yogurt, and ice cream products. (First Research)

Competitive Landscape

Consumer taste and personal income drive demand. The profitability of individual companies depends on the ability to secure prime locations, drive store traffic, and deliver high-quality products. Large companies have advantages in purchasing, finance, and marketing. Small companies can compete effectively by offering specialized products, serving a local market, or providing superior customer service. Specialty eateries, which include coffee shops, are labor-intensive: average annual revenue per worker is about $50,000. Coffee shops compete with convenience stores, gas stations, quick service, fast food restaurants, gourmet food shops, and donut shops. (First Research)

Market Size

The U.S. coffee shop industry includes about 20,000 stores with a combined annual revenue of about $10 billion. Major companies include Caribou Coffee, International Coffee & Tea (The Coffee Bean & Tea Leaf), Pet’s Coffee, and Starbucks. The industry is concentrated: the top 50 companies generate more than 70 percent of sales. (First Research)

Target Market and Segment Strategy

Most adult coffee drinkers said their lifelong habits began during their teenage years. 54% said they began drinking coffee between 13 and 19. Another 22% reported their coffee cravings started between 20 and 24. This means that 76% of adult coffee drinkers began drinking coffee by the time they were 24. So, despite a large amount of marketing and advertising directed at the younger age groups, savvy coffee shop owners will remember to cater some of their offerings to the adult and senior market. (National Coffee Drinking Study).

The Cooper’s Cup will offer a unique experience for coffee enthusiasts by providing a quiet, cozy, yet sophisticated cafe and a sense of refinement and peace in an otherwise hectic and fast-paced world. While other coffee shops cater to convenience with drive-throughs or loud music venues late into the night, the Cooper’s Cup will stand apart from its competitors with its quiet yet soothing ambiance, capturing a truly unique (and much-needed) market niche.

• Unique products (specialized roasts, local ingredients, locally-themed or named drinks, custom drinks by the star barista, etc.)
• Games, puzzles, mind benders, and other activities that encourage customers to linger over their coffee
• Hosting or sponsoring local events (entertainment, readings, book clubs, etc.)
• Using technology to creatively compete in marketing with big chains — services like FourSquare, Yelp, and Google Places can increase visibility in the local market.
• Delivering amazing service from knowledgeable baristas — spend lots of time training staff and utilizing online services like the American Coffee & Barista School.
• Selling coffee-related items (and tracking down any co-marketing opportunities with a local community college or another student-related group in the area)

4. Products and Services

Product/services descriptions.

The Cooper’s Cup’s primary offering is gourmet roasted coffees with mocha, carmelicious, white mocha, candy bar latte, and brewed coffee. Complementing the coffee will be a smoothie line including wild berry, strawberry, peach, mango, and lemonade. Rounding out the simple menu line will be pastries obtained from an outside supplier, freshly made and delivered daily. The pastry offerings may vary with seasonality, but the primary line will be muffins, bread, cookies, scones, and rolls.

Product/Service Sourcing

The Cooper’s Cup has negotiated supplier agreements with several local food-service wholesalers and coffee wholesalers in the Phoenix area that have a reputation for quality and reliability:

• Mean Beans Coffee Roasters
• Phoenix Brewers
• Healthy Harvest Bread Co.
• Mary’s Organics

If one of the abovementioned specialty suppliers cannot meet their needs, the following national suppliers can provide all the food-service products they require. In addition, the following wholesalers will supply the cafe with general restaurant supplies:

• Lawrence Food Products Corp.
• Gerry Food Supply Inc.

Future Products/Services

Young families, which comprise Phoenix’s third largest market share, are often overlooked in the coffee market. Coffeehouses traditionally have not been considered ‘kid’ friendly. To overcome this hurdle, Cooper’s Cup has long-term plans (5 years) to open a 2nd coffee shop: A combination indoor play area/coffee bar. This concept allows parents and caregivers to meet and relax with other adults while the children can enjoy the indoor playground amenities.

Additional future services will include in-store sales for home purchases and an online store.

The website will have the option to purchase a prepaid gift card program – Prepaid gift cards provide immediate cash, reduce credit card transaction charges, and draw new customers to the business.

5. Sales and Marketing Strategies

Swot analysis.

Unique Selling Proposition

The Cooper’s Cup stands out from a crowded sea of coffee chains and franchises. What sets it apart from the competition is primarily its smaller, cozier size combined with premium coffees served by knowledgeable baristas, providing so much energy and enthusiasm for its products.

Market Strategy and Positioning

The Cooper’s Cup utilizes a focus strategy on its Market. By specifically targeting three primary segments, they can cater specifically to their needs.

Senior Market (age 45+)

The Cooper’s Cup will target this Market simply by its well-selected location. Although this demographic group could readily drive downtown, they prefer a local cafe to unwind and relax and historically become some of the most loyal patrons.

Newly Hired Employees

The cafe will attract regular customers (weekly or more) – particularly the newly employed (first job) by providing free WIFI services and providing interesting games in the customer area.

Young Families

The third targeted Market, younger families, often find that coffeehouse is not ‘kid’ friendly. The company has long-term plans to create a combination coffee shop/play area so that parents and caregivers can meet with other adults while the children can enjoy the bounce houses, slides, and indoor playground equipment.

Pricing Strategy

The Cooper’s Cup primarily utilizes competition-based pricing. The cafe does not utilize coupons and discounts (other than opening promotions) because they believe that the most valuable customer demographic of daily coffee consumers is not influenced by discount programs or coupons.

Promotion and Advertising Strategy

• Online Advertising – The Cooper’s Cup will advertise regularly on popular social media sites like Facebook. Compared to traditional print advertising, this is a cost-effective tactic that will allow them to reach prospects in a highly targeted way (e.g., based on criteria such as age, gender, geography, etc.).
• Website – Cooper’s Cup will develop a simple Web site, which will provide basic information about the business, the menu, and links to their presence on the aforementioned social media channels.
• Radio Advertising – During the first six months of operation and the busy holiday shopping season, the business will advertise on local radio stations.

Sales Strategy

The Cooper’s Cup will use the following methods to increase sales revenue (as recommended by Andrew Hetzel on Better Coffee, Better Business):

• The menu will focus on the most profitable products sold. The cafe will always draw customer attention to the best products.
• As warranted, the cafe will raise prices to bolster its brand image. Prices communicate the perceived value of a product, so if set too low, the customers might assume that the beverages are inferior compared to the competition.
• Monitor flavoring inventory – Excess flavoring inventory ties up capital and valuable backroom space for storage. The cafe will utilize 4-6 varieties, including sugar-free offerings.
• Control waste and theft – audit sales and inventory reports to evaluate ingredient waste due to inefficient preparation, returned drinks, and employee consumption. Retail locations can easily waste 20% or more of their daily sales in these three key categories, which is a substantial and unnecessary loss.
• Monitor and evaluate hours of operation.
• Run employee sales contests – The baristas are the salespeople and have great influence over the customer ordering process. All baristas will have some form of sales and customer service training to make each transaction active rather than passive. Sales contests will emphasize high-margin items or cross-selling.

6. Operations Plan

Staffing and training.

An ongoing training and education program will ensure that each staff member learns and implements Cooper’s Cup’s exacting service and operational procedures standards. Staff meetings will reinforce service standards and principles. The Cafe will have detailed work descriptions and training programs for each position, from entry-level employees to the ongoing development of managers and owners. New employees will undergo an extensive training program. This ensures that each guest receives a quality experience from all employees, regardless of how long they have been employed. The Cafe embraces the concept of promoting from within. Excellence in one function typically leads to excellence in another. Regular staff evaluations and training will ensure motivation and address critical issues.

Inventory controls

The founder will be responsible for hiring and training managers who, in turn, will ensure that the day-to-day operations will comply with the standards set by Restaurant policy. Weekly management meetings will provide a forum to review and discuss financial and operational performance. Critical decisions related to purchasing, human resources, marketing, capital expenditures, and customer service will also be addressed.

Purchasing cost controls

Food preparation personnel will follow standardized recipes developed by the founders to control food costs and ensure consistency. The coffee shop will offer an innovative menu with nutritious food and beverages while achieving the most significant margin yield.

Customer Service

The hospitality business recognizes the client’s support experience is the critical driver to replicate business. The direction will Offer a superior degree of Professionalism by hiring individuals who deliver the ideal attitude to work and teaching them the skills required to accommodate guests. The restaurant will keep high levels of consumer satisfaction with talented, educated, and well-trained workers who understand and implement the fundamentals of fantastic service. Ongoing training will be provided to enable staff to perform their jobs with confidence and ability. Employees are well-spoken, well-versed, and trained to provide friendly, prompt, and professional service to each customer. This practice teaches employees who, by producing an exceptional customer experience, can optimize sales and raise their reimbursement. The team will have the knowledge and service required to create excellent daily service for every customer.

Technology & Software

While the quality of the cuisine and dining experience contributes significantly to a restaurant’s profitability, attention to business and financial details can transform small changes into significant returns. Critical sales, cost of sales, labor, inventory, marketing, and overhead metrics are monitored daily. Trends are evaluated, and constructive actions will be taken where improvement is needed. The management team will have access to the restaurant’s transactions and reports available in its real-time POS (point of sale) and accounting systems. Trends will be evaluated, and corrective action will be implemented as required.

7. Organization Structure

The Cooper’s Cup is formed as an S-Corporation wholly owned by John Doe.

Management Team

The Cooper’s Cup will be owned 100% by John Doe. Mr. Doe, a graduate of Arizona State University, has an undergraduate degree in business administration. During high school, he worked as a waiter in a local hospital coffee shop that purchased its beans from a local roaster. In addition to being an avid coffee drinker, this job allowed him to learn about the business first-hand. In college, Doe worked in a campus coffeehouse for four years, eventually becoming an assistant manager. Following graduation, Doe secured a business development position for a regional restaurant chain, which provided additional first-hand exposure to the food and beverage industry—especially the steps involved in establishing new locations.

Management Team Gaps

The Cooper’s Cup will rely on its POS (Point of Sale) system to generate daily accounting and cost activity reports. Mr. Doe will supply these to an outside bookkeeper for the preparation of annual income taxes.

Personnel Plan

Initially, the cafe will hire 1 manager, 5 baristas, and 2 part-time servers. In Year 2, the cafe plans to hire 1 additional full-time barista.

8. Financial Plan

Important assumptions.

• The sales forecast is conservative and assumes a 5% increase in Year 2 and a 10% in Year 3.
• The analysis accounts for economic seasonality – wherein some month’s revenues peak (such as holidays ) and wane in slower months.
• The analysis assumes the owner will not withdraw any salary till the 3rd year; at any time it is assumed that the owner’s withdrawal is available at his discretion.
• Sales are cash basis – nonaccrual accounting
• Moderate ramp-up in staff over the 5 years forecast
• Barista’s salary in the forecast is $36,000 in 2023.
• In general, most cafes have an 85% gross profit margin
• In general, most cafes have a 3% net profit margin

Projected Balance Sheet

Projected Cash-Flow Statement

Projected Profit & Loss Statement

Break Even Analysis

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Frequently Asked Questions

How do you write a business plan for a college project.

As mentioned earlier in the article, business planning for a college project or competition is no different than for a real business. You can write your business plan using these step-by-step instructions.

• Select a compelling business idea
• Refer to business plan examples
• Prepare a business plan outline
• Create a company description section
• Conduct market research and industry analysis
• Describe your product and services
• Outline sales and marketing strategies
• Create an operations plan
• Introduce management team
• Prepare financial projections
• Summarize your plan with an executive summary

What is a business plan for students?

A business plan is a necessary business document that highlights its purpose,  business goals, product/service offerings, go-to marketing strategies, operations and financial plan, key people involved in the business operations, and other necessary details.

As a student, consider a business plan example as a document that helps you better understand business and industry dynamics and learn how a business operates inside out.

What is a business plan competition for students?

Business plan competitions are competitions mostly organized by universities for students passionate about entrepreneurship and the business world. These competitions offer students a platform to showcase their entrepreneurial skills while also providing opportunities for mentorship and networking.

How can I increase my chances of winning a business plan competition?

There cannot be a straightforward answer to this question, but there’s surely a method that can increase your chances of winning a competition—Using AI-powered business plan software.

Why? An AI tool will make you 10X more productive while writing a business plan and preparing financial forecasts. So you can spend more time researching the market and brainstorming business ideas.

Where can I find more business plan examples for students?

Upmetrics’ library of 400+ business plan examples could be an incredible source for students to find more industry-specific business plan examples. There are examples for almost every small business category, including real estate, retail, entertainment and media, food & beverages, and more.

About the Author

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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Starting a business as a college student can be both exciting and challenging. You have big dreams and innovative ideas, but how do you turn them into a successful reality? ClickUp's Business Plan Template for College Students is here to guide you every step of the way!

With this template, you can:

• Clearly define your business goals and strategies for success
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Don't let your entrepreneurial dreams fade away. Use ClickUp's Business Plan Template for College Students to bring your vision to life and make a lasting impact in the business world. Start planning and building your future today!

Business Plan Template for College Students Benefits

Starting a business as a college student is an exciting and challenging endeavor. With a Business Plan Template for College Students, you can:

• Clearly articulate your business goals and strategies, giving potential investors and partners a comprehensive understanding of your vision
• Create a solid financial forecast that demonstrates the potential profitability of your venture, increasing your chances of securing funding or resources
• Identify potential obstacles and develop contingency plans to mitigate risks, ensuring your business is well-prepared for any challenges that may arise
• Effectively communicate your business idea to others, including professors, mentors, and potential customers, gaining valuable feedback and support for your startup.

Main Elements of College Students Business Plan Template

ClickUp's Business Plan Template for College Students provides a comprehensive framework for college students to develop and present their business ideas effectively:

• Custom Statuses: Easily track the progress of each section of your business plan with statuses such as Complete, In Progress, Needs Revision, and To Do.
• Custom Fields: Use custom fields like Reference, Approved, and Section to add important details to your business plan, such as references, approval status, and specific sections.
• Custom Views: Access different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to organize your business plan information, track progress, create a timeline, and refer to a guide to get started.
• Collaboration Tools: Collaborate with team members, mentors, or advisors by assigning tasks, adding comments, and attaching files directly within the template.
• Goal Tracking: Set goals within your business plan and use ClickUp's Goals feature to track their progress and measure success.
• Document Management: Store important documents, financial projections, and market research within ClickUp's Docs feature for easy access and reference.

How To Use Business Plan Template for College Students

If you're a college student looking to start your own business, using ClickUp's Business Plan Template can help you get organized and create a solid plan for success. Just follow these six steps:

1. Define your business idea and goals

Start by clearly defining your business idea and the goals you want to achieve. What problem does your business solve? Who is your target audience? What are your short-term and long-term goals? Take the time to brainstorm and outline these key details.

Use a Doc in ClickUp to document your business idea and goals.

2. Conduct market research

Next, conduct thorough market research to understand your industry, competition, and target market. Identify trends, customer needs, and potential challenges. This research will help you refine your business idea, identify opportunities, and develop strategies to stand out in the market.

Use the Table view in ClickUp to organize and analyze your market research data.

3. Plan your products or services

Based on your market research, plan out the products or services you will offer. Determine their unique selling points, pricing strategy, and how they will meet the needs of your target market. Consider any additional features or benefits that will set you apart from competitors.

Create tasks in ClickUp to outline and organize your product or service plans.

4. Develop a marketing strategy

Now it's time to develop a comprehensive marketing strategy to promote your business and attract customers. Identify the most effective channels to reach your target audience, such as social media, content marketing, or email campaigns. Outline your branding, messaging, and promotional tactics.

Use the Board view in ClickUp to visually plan and track your marketing initiatives.

5. Create a financial plan

A solid financial plan is crucial for any business. Determine your startup costs, revenue projections, and expenses. Create a budget that includes marketing, operations, and any other necessary expenses. Consider different funding options and outline your financial goals for the first year and beyond.

Use custom fields in ClickUp to track and analyze your financial projections.

6. Review and revise

Once you have completed your business plan using ClickUp's template, review it thoroughly and make any necessary revisions. Share it with trusted mentors, advisors, or teammates for feedback. Continuously update and refine your plan as your business evolves.

Set recurring tasks in ClickUp to regularly review and update your business plan.

Get Started with ClickUp’s Business Plan Template for College Students

College students who are starting their own businesses or pursuing entrepreneurial ventures can use the ClickUp Business Plan Template to effectively communicate their business ideas and secure funding or resources for their startups.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to outline and organize different sections of your business plan, such as Executive Summary, Market Analysis, Marketing Strategy, Financial Projections, etc.
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
• The Timeline View will allow you to set deadlines and visualize the timeline for completing each section of your business plan
• The Business Plan View will provide a holistic overview of your entire business plan, allowing you to see how different sections fit together
• The Getting Started Guide View will provide step-by-step instructions and resources to help you navigate through the business planning process
• Utilize custom fields like Reference, Approved, and Section to add additional information and categorize different aspects of your business plan
• Regularly update and revise your business plan as you progress, ensuring that it reflects the most accurate and up-to-date information.
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LivePlan provides your students with the tools to

Know the competition

No business operates in a vacuum. LivePlan incorporates real–world industry data, so students can better understand competitors, plan businesses around industry realities, and confidently execute data–driven strategies.

Build business dreams together

From sharing feedback and engaging in discussions, to simultaneously working on different parts of the plan, students can easily collaborate in groups using LivePlan.

Create a plan that fits their needs

Whether small or big, LivePlan can build out the right–sized business plan for your classroom projects. In LivePlan, students can develop a simple lean plan that focuses their ideas, or create a full business plan with all the details and steps necessary to persuade investors, attract partners, and turn their idea into a profitable reality.

With so much happening in the classroom, you need a tool that works with you, not one that makes you do extra work. Used by educators, consultants, entrepreneurs, and students all around the world, LivePlan has been regularly improved and streamlined so it's easy to use.

Develop confidence in their plan and themselves

It's one thing to plan a business. It's another thing to know how to talk about a business plan. Students can develop talking points and practice their pitch in LivePlan so they can discuss their enterprise with confidence and authority.

With LivePlan your students exceed expectations

With LivePlan, students create business plans that:

• Guide them from concept to actionable plan
• Build the confidence necessary to be entrepreneurs
• Combine pitching, forecasting, and collaboration

LivePlan streamlines projects for educators

LivePlan eases project management in the classroom, so instructors can:

• Pinpoint feedback and suggest improvements
• Monitor project progress
• Teach business planning instead of managing multiple apps

Go beyond business plan examples

LivePlan easily integrates into business courses, includes all materials and curriculum to support classroom business projects, and comes with free phone, email, and chat technical support.

The students very much appreciate the guidance the LivePlan program offers. I love the ability to act as a contributor to their plans. The help resources are phenomenal and easy to navigate.

John Shaw Assistant Professor of Management, Davis College of Business – Jacksonville University, Jacksonville, FL

See how LivePlan can upgrade your student's education

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Teachers and students love LivePlan

LivePlan really facilitated communication between students who were in a team on the business plan project. Students could comment on sections of their business plan and collaborate on what to change in their plan without having to meet face–to–face.

Amy Valente Assistant Professor of Business, Cayuga Community College, Auburn, New York

LivePlan helped us easily set up the business plan for our startup during our MBA. As soon as the other students saw it, they also wanted LivePlan. The time we saved on planning we could use for operational tasks. It was the ideal solution for us.

The product we produced by using Live Plan was exceptional, far exceeded our expectations, and came out so much better than we could have ever done on our own.

This product is a game-changer. It allows the non–MBA founder to unleash their potential through strategic planning and beautiful design. Highly recommended.

Answers Neuroscience

LivePlan is simply awesome.

Amit Agrawal

This free Notion document contains the best 100+ resources you need for building a successful startup, divided in 4 categories: Fundraising, People, Product, and Growth.

This free eBook goes over the 10 slides every startup pitch deck has to include, based on what we learned from analyzing 500+ pitch decks, including those from Airbnb, Uber and Spotify.

This free sheet contains 100 accelerators and incubators you can apply to today, along with information about the industries they generally invest in.

This free sheet contains 100 VC firms, with information about the countries, cities, stages, and industries they invest in, as well as their contact details.

This free sheet contains all the information about the top 100 unicorns, including their valuation, HQ's location, founded year, name of founders, funding amount and number of employees.

The Best 36 Business Ideas for Students on a Budget 2024

Description

Everything you need to raise funding for your startup, including 3,500+ investors, 7 tools, 18 templates and 3 learning resources.

Information about the countries, cities, stages, and industries they invest in, as well as their contact details.

List of 250 startup investors in the AI and Machine Learning industries, along with their Twitter, LinkedIn, and email addresses.

List of startup investors in the BioTech, Health, and Medicine industries, along with their Twitter, LinkedIn, and email addresses.

List of startup investors in the FinTech industry, along with their Twitter, LinkedIn, and email addresses.

When you are a high school or college student, you generally have huge batches of free time. There's no better way to spend them than becoming a student entrepreneur...

In the past decade, the world has seen many incredible businesses being started by college students (Facebook, just to name one).

Is it Possible to Start a Business While Being a Student?

The internet has removed many barriers that once prevented students from starting businesses. These days, there are no legal, financial, or knowledge restrictions holding you back from launching a side hustle while in school.

School and university demand many of your hours, but if you stay organized and make the best use of your hours, you will find time to both study and run your startup.

Best 36 Business Ideas for Students

1) sell used books.

Difficulty : Low

Investment : Low

Description : You finished your academic year, congratulations! Now check your desk… you have a pile of used books, right? In many cases, they end up in your house’s trash bins. However, there’s something better to do with them: sell them to younger students at a cheaper price than what a new copy is.

You'll probably, at least, make enough money to purchase the books needed for your next semester. The best of this idea is that it doesn’t require either any investment or much time.

Resources : Here’s an article on the 6 best places to re-sell old books and some tips on how to do it.

2) Flip Websites

Difficulty : Medium

Investment : High

Description : You buy websites that are exiting for a low price, grow them in 6 months to 2 years, and sell them at a much higher price for a profit. There are people who work full-time on this and make millions per year with their sites.

The key here is to buy a high-quality website at a low price. There’s a ton of information on what you should consider and check when doing it. At the same time, there are all kinds of free digital marketing courses that you will find useful if growing one of these websites.

Resources : Flippa , Empire Flippers, and Micro Acquire are three website marketplaces. Besides that, you should check out this article on how to find, evaluate and buy websites , as well as this review we've written about Micro Acquisitions course , which goes all about buying, growing, and selling sites.

3) Re-Selling

Investment : Medium

Description : There’s an ethical unresolved issue around re-selling sneakers, tickets, or whatever, but I’ve personally seen many people make loads of money buying items at a low price and selling them at a higher one. Re-selling works best with limited items (such as the mentioned tickets and some exclusive sneakers), as those who haven’t been able to purchase them are willing to pay more than their original price to have them once the item is out of stock.

The key when re-selling is understanding the market and anticipating which items will people be more willing to pay for once they run out. Note that it can be pretty risky; I know of a guy who bought 10 tickets for a concert and couldn’t re-sell them. He ended up inviting all of his friends for free with a huge loss.

Resources : This is a really inspirational article on how to re-sell sneakers and make a profit.

4) Writing Services

Description : Start a website that offers all kinds of writing services to students or businesses. It could be anything from sales & marketing copy, SEO content, essay writing, academic papers, or even simple proofreading.

There are already many trustworthy services online, and before starting out your own writing service, it is a good idea to work as a professional essay writer for a top website. After you have gained some valuable experience doing this, you can move on to creating your own essay-writing service. You could charge per hour or project.

+1 if the website invites other fellow students to offer such writing services and you charge a fee ;)

Resources : This article will help you decide whether you should or should not start freelance writing. If yes, make sure to check this one, which teaches you how to do it.

5) Play Cupid

Description : Set up a website or an app, exclusively for your college campus or local area, to let the singles meet. This will be much appreciated by the community and, with a small fee, the app could kick-off and be the Tinder of your campus or neighbourhood.

The app could, instead, be focused around networking. People could use it to meet other people and make new friends.

Alternatively, the app could also be focused around professional networking.

Resources : This Bubble template is a great and cheap point to start a dating app.

6) Motivational Apps

Difficulty : Hard

Investment : Medium 

Description : Motivational apps have a broad scope range. They could be for anything from academics to mental health.

Consider academics. The app could show events, seminars, or lectures and let the user log the attendance to these, getting award points in exchange. Such apps encourage improved productivity among students in a positive and fun way.

These rewards could be in the form of vouchers, coupons, or deals for any local service. For the sponsors, this would be a worthwhile advertisement option among the clientele too.

Similar apps could be designed for fitness, gym attendance, and other activities too.

The easiest way to monetize such an idea would be through ads.

Resources : There are many tools out there to build apps cheaply and fastly (even without coding). Check our Tools page .

7) Babysitting

Description : There will always be demand for babysitters and nannies. With both parents working and maternity and paternity leave shrinking in length, the market for this is only widening. If you have a knack with babies and have a pleasing personality, you are already good to go.

Resources : Here is a detailed article on how to properly set up your babysitting business and make the most of it.

8) Babysitting Network

‍ Difficulty : Medium

Description : You can create a sort of marketplace for babysitting. Other prospective babysitters could sign up for it and offer their babysitting services. Parents could select between the available babysitters and hire them through the platform. You could keep a commission.

Even if you are not able to do the babysitting job due to lack of time, you'll still make a commission from fellow babysitters who have signed up for the program.

Resources : Here is a long article on how to build and grow a nanny app.

9) Pet Sitting

Description : What’s better than babysitting? Pet sitting! Who doesn’t want to spend the whole day playing with dogs? There are busy workers and families taking holidays who need someone to take care of their loved pets.

There are two main ways to face this business idea. The most common one is to take pets for a one/two-hour walk every day/every two days. The second one would be to take care of pets of people taking holidays, for one to four weeks.

Resources : The Balance Careers has a huge series of resources for pet sitters.

10) Local Reviewer

Description : Every time we want to buy a product, the first thing we do is to look online for product reviews. Sure enough, all big cities have their own dedicated websites for such reviews from multiple sources. But what about small places or even campuses? There’s a huge opportunity there.

Start a website that reviews the local accommodations. You can make this exclusive for the campus itself or other accommodations in the area that students could rent out. This would work as a credible source rather than just word of mouth. There could also be options added to include listings and discussion forums. You can monetize this through advertising.

Resources : WPBeginner has a long article on how to build a review site using WordPress, which would probably be the cheapest and fastest way to do it.

11) Swap Website

Description : Swap websites are used to swap, sell, and borrow goods and services. For example, if a person needs something but only for a single use, it is best to rent it out rather than buy one.

On campus, there is more than one person who is willing to do that, but it is lacking a way to find that person. Such a website would simplify this while enabling people to save a few bucks.

Call it a new age barter system; especially on campus, there would be a lot of demand for this. Start this locally and then expand it later. There are loads to borrow and exchange from academic services, bikes, books, and even clothes. You can monetize it through advertising.

Resources : Here’s a list of 36 bartering and swapping websites to get some inspiration. We’ve also interviewed the founder of a shutdown swapping site who shared all the mistakes he made throughout his journey.

There are loads to borrow and exchange from academic services, bikes, books, and even clothes. You can monetize it through advertising.

12) Design Services

Description : All kinds of businesses have design tasks. So, you can create a site that offers different types of design services, such as logos, flyers, packaging, or even websites, and niche down to local businesses or even other students starting their own startups. This is a great startup idea for students and you could charge per hour or per project.

When you are a student, it can be hard to get businesses to trust you. There are many ways to achieve it, such as showing them previous high-quality work, offering one free project, and connecting them with your previous clients.

Resources : You may be asking how to build a portfolio if you’re just starting and have never had clients, right? Here’s a tool that generates fake client briefs for you to design and showcase in your site.

13) Digital Marketing Services

‍ Difficulty : Hard

Description : Digital marketing has grown a lot in the last decade, with the emergence of eCommerce and online businesses. The businesses that don’t digitalize themself and ignore working on their internet profile and presence are missing a huge percentage of clients.

There probably are many local businesses looking for help on their digital marketing strategies. You can reach their owners and provide them with a free consultation to show you know about the subject. You could help them with local SEO , social media management , and Google Ads / Facebook Ads campaigns, among other strategies.

Resources : Make sure to check out Acadium , a tool connecting businesses looking for digital marketing work to be done, and students who are willing to learn and do that work. They provide great free digital marketing courses on different topics.

14) Development Services

Description : Having a website is a must for any kind of business, and most local ones tend not to have one. There’s a huge opportunity there.

Learning to code is super accessible for everyone. There are thousands of free development courses, books, articles, and videos, so “I don’t know how to code” is definitely no longer an excuse. And if you don’t want to learn, you can even build a website without coding. This site was built with Webflow , a powerful visual web design tool.

Resources : Google “free web development course” and you will get 3.2B results… I think that’s enough ;) You should also check this complete guide on web development freelancing.

15) Cleaning Services

Description : Publish an online ad offering cleaning services in your neighborhood. Do a great cleaning job and build trust with your clients. Ask your clients for a referral and you will soon be cleaning the houses of all your neighbors.

That’s actually what Kisten Hadeed did and the origins of Student Maid, a really successful cleaning company in Florida. You can charge per hour and keep initial investment really low by asking clients to supply you with the needed equipment. 

Resources : This article from Entrepreneur.com teaches how to get started in this industry.

90% of startups fail. Learn how to not to with our weekly guides and stories. Join 40,000+ founders.

16) Pool Cleaning Services

Description : Cleaning pools is an alternative to the already mentioned cleaning neighbor’s houses business idea. It’s definitely not as easy, as it requires to be educated on what you’re doing. You might even need legal permissions to work on it, depending on where you are based. On the side, it requires some investment in equipment and products to be able to carry out the job.

Both the difficulty and investment issues come with a big chance of making great money. You can easily get paid $40-60/hour. Note that the business would mainly run during the summer seasons.

Resources : This article provides detailed information on how to set up and grow a pool cleaning business.

17) Moving Service

Description : Both neighbors and students need moving services eventually, whether it's because the academic year has finished and the student is moving back to their homes, or because a neighbor has rented a new house. You can make money (at least $200/moving) if you find it easy to pack items and move boxes.

Resources : Here’s a long article on how to start a moving company, some tips for growing it, and the recommended price you might want to charge.

18) Transcription Services

‍ Difficulty : Low

Description : Transcription services are needed in all kinds of fields, such as law, medicine, and businesses. It also doesn’t require either fixed hours or many skills. On the side, there are many forms of transcription, including video podcasts and recorded lectures, so you will probably be able to select the niche that interests you.

No formal training is needed in order to be able to do transcription services. Good listening abilities, great knowledge of English grammar rules, and fast typing skills would be a perfect combination to get high-quality work done fast.

Resources : Here’s a motivational story on how Benjamin Walker grew a transcription business to +$1M/year.

19) Translation Services

‍ Difficulty : High

Description : Offering translation services isn’t as easy as offering transcription ones. You will need to be bilingual in both languages and know the grammar rules of the two of them. Businesses may not be really willing to offer advanced translation work to students, but they might be if it is basic and unimportant translations.

You could start by translating lectures, books, and articles for professors. There’s a ton of high-quality content in other languages - professors might want to share it with their students but they can’t as it isn’t in the student’s native language. That’s where you can help and charge per word translated.

Resources : Here’s a whole content site dedicated to the business of translation.

20) Photography Services

Description : If you love taking photographs, you can take your hobby and talent into a photography freelancing business. Both students and local businesses may need your services whether because they want to update their Tinder profiles or because they are looking to promote their recently-launched products.

In the beginning, you can start offering all kinds of services, but as you grow the business, you will probably realize there’s a ton of competition and you will need to niche and focus on one segment or one specific photography service in order to be different than the rest.

The biggest issue for this kind of business is the cost of the photography equipment, which, if you’re moving from one place to another, can break and make it even more expensive.

Resources : Make sure to check this guide from Bplans on how to start a successful photography business.

21) Photography Portfolios

Description : Good photography skills need to be appreciated before they get lost in that Instagram page. Any campus will have a few fellows with exceptional skills in photography and videography. It would be easy to make a database of students who are interested in and create a platform to sell their work to others.

The platform could charge a fee to either the photographer or the customer. On the side, it could also work hand in hand with a photography club giving more chances and connections to both sellers and buyers by offering more exposure.

Resources : Here’s a no-code template to build such an app.

22) Food Delivery Services

Description : Create a platform to deliver quick eatables, like sandwiches and smoothies, made by local businesses. Start by targeting firms with employees in younger age groups, who often go out to grab a meal during lunch breaks. This is a gold mine, with food deliveries for simple items that don't break their wallet, the business would be exponential. With options to schedule deliveries made earlier to arrive at lunchtime, this could actually be a problem solver for the firms.

Take a step further and make these homemade too. This way, it is not necessary to rely on multiple third-party services. The food will be authentic, tasty, and have a personal touch to the service.

Resources : Steven Long was the founder of Chowdy, a Toronto-based food delivery startup making $110k/month which had to shut down due to some legal issues. Ali Jiwani is the founder of MealSurfers, a Canadian food startup that made an exit when it was making $7k/month. Make sure to check those two stories and learn from both the wins and mistakes of each.

23) Deliver Food Hampers

Description : How often have you thought about that mac and cheese your mom makes so deliciously. Or even wondered when you are finally going to eat something healthy?

Well, the lack of time or will to go to a grocery store and cook something is in the least probable category. And the parents are well aware of this too. So design an app where parents can make such orders for kids that would be delivered to them. 

This will have the personal touch and love of a package coming from home itself. You could monetize it by taking a shipping fee.

Resources : Entrepreneur.com has a complete article about food hamper businesses. You should check it out!

24) Blogging

Description : Is there anything you really enjoy talking about? Are your friends tired of listening to you talk about it? Then start a blog about that topic, build an audience, and monetize it through ads and premium content.

 The startup costs of building a blog are super low nowadays (with a domain and hosting would be enough, so less than $50/year) and the information to grow such a site is free all over the internet.

When we started this site, we had 0 knowledge of how to grow it. Nowadays, it receives +150k users every month from all over the world. Note that it took us 3 years to build such an audience. Consistency is key when blogging.

Resources : GrowandConvert is a content marketing agency that has an amazing blog related to creating and publishing content on the internet. Backlinko is another blog that publishes content-related articles, particularly about the search engine optimization of these. 

25) Video Classes

Description : Visual media often makes things easier. That is precisely the reason why we are all so hooked up on Youtube, without having a clue why we are watching a cat playing piano at 3 am. The thought is simple, won’t lectures be so easy to understand with such visuals? With a creative mind and some graphic design skills, it could be put to use for this.

The idea is to make a visual representation of any lectures and offer them to tutors and students. It would make studying so much better and more straightforward. You could monetize it by pricing every video or through a monthly subscription.

Resources : Here’s a great guide on how to make videos look professional without investing much money.

26) Class Notes

Description : We all know those students who are pretty lazy to actually take notes or those others who tend to miss classes under any kind of excuse, right? Those students would be your niche market if you set up a class note business.

There are some people who are really great at taking lecture notes, being able to summarize the information in a nice-looking and concise way. If you are that kind of person, you should consider re-selling your notes to other students. You could sell them independently per class or in packages of all the notes related to one exam or to one semester.

Resources : Make sure to check this well-known book , in which Sönke Ahrens shares his unique technique to take smart notes that are easy to study and learn from.

Description : Where there are students, there are tutors. If you stand out in one subject, you can probably teach it to someone else who struggles to understand it. A common trouble-maker subject is Maths, but note that there are many math tutors as well.

Schools and professors tend to be helpful with students starting their tutor businesses. Some schools even have a database of tutor students, so make sure to check if there is one in your school. The monetization model would be per hour; you can charge anything between $10-$100, depending on the subject, the concepts taught (how advanced they are), etc.

Resources : This article is super inspiring for anyone starting a tutoring business. The writer shares how he is making $1,000/week as well as lots of recommendations and mistakes you should avoid.

28) Organize Trips

Description : It is a known fact that most of the group plans for a trip but never happens. The WhatsApp groups have seen hundreds of failed plans. It is the time that someone takes responsibility and get things done.

Organize trips to various destinations which could be for events, festivals, or even just weekend trips. You can charge a commission or a fixed amount for an all-inclusive deal.

Resources : Here’s a detailed guide from Bplans on how to start a travel agency.

29) Event Organizer

Description : Lots of students enjoy parties and socializing, so why not capitalize on it? Everyone is willing to spend $10, $30, or even much more on a great party. These can take all forms and shapes, from organizing a small meetup at a nightclub to running Project X 2.

What will you need? Excellent communication skills to convince everyone they can’t miss such a party (social media is a MUST to promote it!) and advanced organization abilities to make sure everything is in the right place at the right time.

Resources : Here’s a long article from Capterra explaining how to turn those small parties/events you have maybe carried out in the past, into a profitable business.

30) Campus Newsletter

Description : This is quite a unique business idea for students. If your campus doesn't have a newsletter already, it is time to start one. The source of money from this could come from advertisements from local businesses or even other student startups.

The newsletter could be sent as emails rather than printed versions or both. As a third party, a student can even make a deal with the college to create brand awareness among potential students using the letter. It could be used for promotional purposes, branding, and lead generations outside the campus too.

Resources : Here’s an article on 7 tips to create a school newsletter.

31) Campus Podcast

Description : Instead of a campus newsletter, you could do a podcast. It could be an interview podcast, talking with students and professors, or more like a solo podcast, talking about the news, events, and things going on in the campus.

The equipment needed is pretty cheap, with the possibility of recording even with your phone. As for monetization, it could be done through sponsorships from local businesses or premium content for those who love the podcast.

I haven’t personally seen this on many campuses, which makes me think this is one of the most innovative and unique business ideas for students on the list.

Resources : Here’s an article on the 5 steps required to start a school podcast.

32) Language Course

Description : Do you excel in any language? Do you enjoy teaching other people? Then you should set up a Skype language course and sell classes to people from anywhere in the world while staying in your home. You could easily charge $20-$60/hour and work part-time on it.

Growing your client base is all about building an online presence and getting referrals from your existing customers. In the beginning, you could boost your initial customers by providing them with a free 1-hour call.

Resources : Here’s a long guide for beginners on how to make $30/hour teaching languages and 6 places to get your first clients.

33) Bookkeeping

Description : You don’t need to have a finance degree in order to be able to manage a local business’s bookkeeping records. An online course or even just some Youtube videos would be more than enough to start with. As all businesses require such work to be done, you probably won’t have big issues finding your first customers.

The initial investment costs are super low, as you can ask the business owner to supply you with the needed tools. As for monetization, most bookkeepers charge per hour and the amount depends on the complexity of the tasks ($30-$100 or more).

Resources : Here’s a detailed video on how to start a bookkeeping business in 2021.

34) Jewelry Business

Description : This is a great startup idea for students because jewelry making isn’t as hard as it sounds. You can easily learn about it through online courses and Youtube tutorials. You will then need to practice a lot until you start getting great results. Profit margins can be really high when you achieve a nice looking product.

There’s a ton of competition in the jewelry space so you will have to identify a niche. Social media (particularly influencers) are among the most usual strategies carried out by this kind of businesses.

Resources : Shopify has a detailed guide on how to start such businesses. Besides that, a few years ago we interviewed , on this site, the founder of a jewelry business that shut down and then emerged again with a new business model just to start making +10k/month.

35) Baking Business

Description : Selling cakes, cookies, bread or other baked goods can be another startup business idea for students. You can easily post an online ad or some leaflets around your campus. Make a client happy, and you will have 3 new ones. The food industry works a lot with word of mouth.

There are two main ways to monetize this. The first would be to prepare the goods based on requests from customers. The second could be to produce 100 cookies, rent a bike, and wander around the campus and neighborhood looking for hungry people. The chosen price for the cookies would be cheaper than if it’s a requested job.

Resources : Here’s a detailed article on how to set up and grow such a business. You should also watch this video from the founder of a “late-night cookie delivery service” in his college city.

36) Youtuber

Description : Becoming a YouTuber looks like a easy and lucrative career. Many see it as a great business plan idea for students because you make videos on a niche that you enjoy and then make money off them through ads and sponsorships. But the reality is that becoming a well-known YouTuber is not an easy feat. 

Behind every famous one, there is a long, painful journey of hard work. Start by creating content and keep iterating from there with the help of your audience. It won't be an overnight success, but if you keep going for some time, you'll see amazing results.

Resources : Here’s an article about a checklist to become a successful Youtuber.

How Can a Student Start a Business?

Or in other words, how do you become a student entrepreneur?

The list of business plan ideas for college students mentioned above is nonsense if you don’t now take action toward the chosen business.

If you are a Business student, you probably have an idea of what are the steps that involve setting up and launching a business. However, all kinds of students read this article, so here are some common steps that entrepreneurs carry out:

1) Decide on the idea

All of the business ideas for college students on the list are really interesting ways of making money, but you definitely can’t work on them all.

To decide which to focus on, make sure to think about what you enjoy doing in your free time, what you excel in, and what would you be willing to keep doing even if it doesn’t bring money (or it means negative numbers). We have compiled a list of both online business ideas and offline business ideas so you can pick the one that best suit your needs and skills. We hope we came up with some innovative startup business ideas for students that you would have never imagined.

Make sure to also consider your initial investment. Some featured in the list are business ideas for college students without investment or little resources, while some others will require a few hundred or thousands to start.

Note that some of the above are business ideas for students in university (or would work better with them) and others are business ideas for students in school (those that don’t require much money and getting physically involved).

2) Decide on a niche

Nowadays, there are businesses of all sizes and shapes. Building one has become so easy that the internet is full of websites, millions of videos are uploaded to Youtube every second, and thousands of LLCs are formed every day.

This means that there’s a lot of competition in any industry. The best solution for students who don’t have enough resources to invest in research and development and build a unique product or don’t have the capital required to set up a huge factory and win over competitors through economies of scale (= low pricing), is to focus on a niche.

A common niche could be to geographically limit the business so that you just focus on people within your neighborhood or your college campus. Another could be to focus on people with certain interests and likes.

3) Choose a name and a brand style

Here’s a detailed article on how to choose a name for your startup. The key is to brainstorm many, evaluate each option, and ask for feedback from your partners.

As for branding, here’s another article on how to build the brand of a business. There are free tools to do it. Don’t spend much money/time on it, at least at the beginning.

4) Launch the business

It’s now time to push the LIVE button for your business.

This needs to happen as fast as possible so that you quickly validate whether it is worth it to keep pushing towards that business idea or it’s better to move to a new one from the above list of entrepreneurship ideas for students.

There’s a common issue entrepreneurs face when launching new startups that’s called “ paralysis by analysis ”. They keep improving the product, adding features, changing the design, etc, and spend months and months without launching it.

This is exactly what you need to avoid, especially if this is your first business. 90% of startups fail (I’m sorry to be the one to tell you this), so you need to launch fast, validate early, and move to another business if it didn’t work.

5) Market your business

You pushed the LIVE button and you didn't get any sales, right?

The “build it and they will come” phrase is a completely unreal myth . It will take you blood, sweat, and tears to get your first clients.

Do some advertising, go outside your home and deliver leaflets (there actually are some unique business ideas for students at home above, in case you’re too lazy), knock on your neighbor’s doors, send cold messages to potential customers that you found on Facebook groups, etc.

6) Make sure your customer is happy

Many of the college business ideas tend to market themselves by word of mouth and referrals. That is why it’s essential to make sure that each of your clients is happy with the results.

Interact with your customers, ask them what they think you could do better next time, provide them with a discount if any parts of the job were done incorrectly… there are so many ways to make your client happy, even if the price of the service is high or the quality of the work wasn’t the best.

If the business is going well, you will soon find yourself with many tasks under your belt and little time to work on them, along with studies and extracurricular activities.

That’s when you might start considering hiring your first employee. In order to avoid the risks of going into negative numbers during a bad month, you can work on a commission-based wage.

In this stage, the selection of new team members is essential. Remember that word of mouth can be a key way of promotion and marketing. If you hire someone who has zero knowledge of the tasks they are required for, delivers low-quality work, or mistreats clients, you will soon find yourself ceasing operations.

Now It’s Your Turn!

There is no direct and simple answer to the question of how to start a business in college.

As smooth as the above startup ideas for students may sound, they will all inevitably require a lot of dedication and perseverance.

There is an abundance of resources at your fingertips, from valuable classes to school technologies, and access to professors. So make use of them in the best way possible, and if the idea still doesn’t seem feasible, lay the groundwork for it.

You would be getting practical knowledge and work experience before finishing the course. Even if it fails. Remember that college is the time to blossom and experiment, and it is only the beginning of your life journey.

If you have any questions, have other small business ideas for students you think we’re missing, or want us to help you with your new startup, make sure to reach us at [email protected] !

Which Business is Best For Students?

Here are some of the best businesses: flip websites, re-sell sneakers or tickets, baby or pet sitting, deliver writing, design or development services, start a blog, sell your class notes, become a tutor, organize others’ trips, organize parties, and create a campus newsletter or podcast.

What Kind Of Business Can a Student Start?

Students can start all kinds of businesses, but it’s really common that they start a service-based one, such as house cleaning, pool cleaning, food delivery, content writing, content transcription, graphic design, and website development, among others.

First, decide your business idea and choose the segment of the market that you’ll be serving. Then, choose a business name and design your business’ brand. Once it is launched, market your business in your neighborhood or campus. Finally, hire employees and scale it!

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BUSINESS STRATEGIES

12 business ideas for students to start at college

• Nirit Braun
• Dec 10, 2023
• 10 min read

A student business idea is an entrepreneurial endeavor initiated by a college student. College students may start businesses for various reasons and these ventures can range from small side hustles to full-fledged startups.

Learn more: How to choose a business idea

Why might students need to start a business?

There are many reasons why college students might choose to start a business . Some of the main ones include:

College students often face financial challenges, including high tuition fees, living expenses and student loan repayments. Starting a business can provide an additional income source and financial stability. Read more about how to make money as a student or how to make money as a teenager .

Entrepreneurship allows students to gain real-world job experience and build their resumes or portfolios. This practical experience and gained expertise can be valuable when seeking employment after graduation.

Running a business can offer flexibility in terms of work hours, which can be beneficial for students with irregular class schedules or other academic commitments.

Students may have unique talents, skills, or interests they want to pursue as a business. Entrepreneurship allows them to turn their passions and college studies into profitable ventures.

12 best business ideas for students to start while at college

Students at college can explore a range of business opportunities that fit into their busy schedules. Ideas like freelancing, dropshipping, tutoring, blogging and others offer them the chance to earn and learn simultaneously. Service businesses like pet care, landscaping and cleaning are great for part-time ventures that can accommodate academic commitments.

Freelancing

Dropshipping

Craft business

Start and monetize a blog

Marketing services

Pet sitting and care

Landscaping

Bookkeeping

Delivery services

01. Freelancing

Freelancing involves offering your skills and services to clients or businesses on a project-by-project basis. Freelancers work independently, often remotely and may provide services such as writing, graphic design, web development, social media management or digital marketing.

Learn more: Freelance ideas , how to make money as a graphic designer

Why is freelancing a good business idea for students?

Freelancing offers students the flexibility to work around their class schedules and other commitments, much like other side business ideas do. Students can leverage their skills and expertise to earn income in areas they are passionate about. Freelancing allows students to gain real-world experience, build a portfolio and network with potential clients. All of which can help them in their professional careers post-graduation.

What are some good freelancing businesses for students to start?

Content writing : this could be writing blog posts or freelance copywriting services for businesses.

Graphic design : creating logos, infographics or marketing materials for clients.

Web creation and development : build websites for individuals or businesses. You can use a website builder like Wix to easily build websites for clients.

Social media management : manage and grow social media profiles for small businesses. This can include creating posts and content, tracking users and building engagement.

02. Dropshipping

Dropshipping is an eCommerce business model where students can set up online stores and sell products without holding inventory. When a customer places an order, the products are shipped directly from the supplier to the customer.

Learn more: eCommerce business ideas , Dropshipping business ideas

Why is dropshipping a good business idea for students?

Dropshipping requires minimal upfront investment, making it accessible to students on a tight budget.

Learn more: Low-cost business ideas , How to sell online

The e-Commerce industry is continuously growing and dropshipping allows students to tap into this market without the hassles of inventory management. In 2022 global retail m-commerce sales topped $431.4 billion and are expected to top $511.8 billion in 2023.

Learn more: How to start a dropshipping business

What are some good dropshipping businesses for students to start?

Online clothing store: sell clothing, accessories, or niche-specific fashion items. Learn more: How to start a clothing business .

Electronics and gadgets: offer a range of tech gadgets and accessories.

Home decor: sell decorative items, furniture or interior design products.

Health and wellness: focus on products like supplements, fitness equipment or eco-friendly products.

03. Reselling

Reselling involves buying products at a lower price and reselling them at a profit. This can be done through various channels, including online marketplaces, thrift stores, or even college flea markets.

Why is reselling a good business idea for students?

Reselling can be started with a small investment, which is suitable for students. It provides students with valuable experience in sales, marketing and negotiation all of which are important professional skills to learn. Students can engage in reselling part-time or during breaks so it doesn’t conflict with their studies.

Learn more: Best businesses to start with little money

What are some good reselling businesses for students to start?

Thrift store finds: sell vintage clothing , collectibles or antiques.

Online bookstore: sell used or rare books through online marketplaces.

Tech accessories: offer phone cases, chargers, or tech gadgets.

Home decor: resell furniture, artwork or other decorative items.

04. Craft business

Selling crafts online involves creating and selling handmade crafts and products. This can include jewelry , candles , artwork, hand-knit scarves or personalized gifts.

Why is crafting a good business idea for students?

Craft businesses allow students to express their creativity and turn their hobbies into income. Operating from a dorm room or small workspace minimizes overhead costs.

Learn more: Home-based business ideas

Handcrafted items have a unique, artisanal appeal that can attract regular customers. Learn how to sell crafts online .

Learn more: Unique business ideas

What are some good crafting business ideas for students to start?

Handmade jewelry: create custom jewelry pieces or unique designs.

Candle making : craft scented or decorative candles.

Art and illustrations : sell original artwork, prints, or digital designs.

Personalized gifts : offer custom-made gifts, such as mugs, t-shirts or home decor.

05. Tutoring

Tutoring involves providing educational support to students or learners in specific subjects or skills. This can be done in person or online and subjects can range from math and science to languages and test preparation.

Learn more: How to start a tutoring business

Why is tutoring a good business idea for students?

Students can leverage their knowledge in subjects they’re passionate about and in turn, share them with other students. Tutors can schedule sessions around their class schedule and availability which makes this a flexible business idea to start. It can also be a great business idea for students looking to enter teaching or lecturing as a professional post-graduation.

Learn more: Business ideas for teachers

What are some good tutoring businesses for students to start?

Academic tutoring: offer assistance in subjects like math, science, or history.

Language lessons : teach foreign languages or provide English as a Second Language (ESL) lessons.

Test prep: help students prepare for standardized tests like the SAT or GRE.

Music or art lessons: provide music instruction or art lessons to aspiring learners.

06. Start and monetize a blog

Blogging involves creating and regularly updating an online platform where you share information, opinions, or expertise on a specific topic or niche. Monetizing a blog means earning income from it through various methods like advertising, affiliate marketing, sponsored content or selling digital products.

Learn more: How to start a blog

Why is a blog a good business idea for students?

Blogging allows students to work on their own schedules, making it easy to balance with classes. All you need to blog is a computer and an internet connection, making it possible to do from anywhere. It's an opportunity to express ideas, passions and knowledge. These are all important skills for a college student. Over time, a well-monetized blog can generate passive income.

Learn more: Passive income ideas .

What are some good blog ideas for students to start?

Travel blog : share travel experiences, tips and affiliate links to booking platforms.

Fitness blog : Discuss fitness nutrition and promote related products.

Tech blog: write reviews and recommendations for tech products.

Finance blog : offer financial advice, budgeting tips and promote financial tools.

Get started with the Wix blog maker and make your own blog.

07. Marketing services

These services encompass a wide range of activities, such as social media marketing, content creation, SEO and advertising, to help businesses reach and engage their target audience.

Learn more: How to start a marketing business

Why is marketing a good business idea for students?

Students often possess digital marketing skills, either from their studies or from their own use of social media and can leverage them to help businesses improve theirg online presence. Marketing is essential for businesses and there's a consistent demand for marketing services that students can tap intoStudents can offer marketing services on a freelance basis, which provides flexibility around their studies and extracurricular commitments..

What are some good marketing businesses for students to start?

Social media management : help businesses grow and manage their social media profiles.

Content creation : provide blog posts, articles or video content for companies.

Email marketing: helping to create the assets and strategy for email marketing campaigns.

08. Pet sitting and care

Pet sitting and care services involve taking care of pets when their owners are away. This includes pet sitting, dog walking, feeding and providing companionship or even boarding.

Why is pet care a good business idea for students?

Students who love animals can earn income doing what they enjoy. Pet sitting can be done part-time, at the weekend, in the evenings or during breaks. Minimal investment is needed for pet sitting and dog walking which suits most students' budgets.

What are some good pet-related businesses for students to start?

Dog walking: offering daily dog-walking services for pet owners.

In-home pet sitting : care for pets at the owner's home while they're away.

Pet boarding: provide boarding services for pets in your home or a rented space.

Pet grooming: offer grooming and spa services for pets.

09. Landscaping

Landscaping services involve tasks like lawn maintenance and gardening. This can include mowing, weeding, planting and landscape design.

Why is gardening a good business idea for students?

Landscaping provides a physical workout, which can be appealing to students who want to keep fit as part of their business. Landscaping can be seasonal, allowing students to work during breaks and avoiding conflict with their studies. The startup costs for basic landscaping services are relatively low, some lawn care services can be done with the lawn owner's tools or equipment.

Learn more: Business ideas for teens , Recession-proof business ideas

What are some good landscaping-related businesses for students to start?

Lawn care: offer services like mowing, edging and lawn treatment.

Gardening and planting: assist homeowners with garden design and planting.

Tree care: prune, trim and care for trees on residential properties.

Landscape design: create landscape plans and implement them for clients.

10. Cleaning services

Cleaning services involve cleaning and maintaining residential or commercial spaces. This can include house cleaning, office cleaning and specialized cleaning services.

Why is cleaning a good business idea for students?

Cleaning businesses can start with basic cleaning supplies, keeping initial costs low for students. Cleaning can be scheduled around classes and other commitments, a flexibility that is ideal for college students as a part-time business idea .

What are some good cleaning businesses for students to start?

House cleaning: offer regular house cleaning services for homeowners.

Office cleaning: provide cleaning services for small businesses or offices.

Specialized cleaning: focus on niche cleaning services like carpet cleaning, window washing, or post-construction cleaning.

Janitorial services: offer cleaning and maintenance services to commercial properties.

11. Bookkeeping

A bookkeeping business involves maintaining financial records and ensuring the accuracy of financial transactions for businesses. This includes tasks like data entry, reconciling accounts and preparing financial reports.

Why is bookkeeping a good business idea for students?

Students with accounting or finance knowledge can offer bookkeeping services to businesses who need it, this can be done on a freelance basis, providing flexibility for students. It’s also a great way for students to learn how to manage a business themselves.

What are some good bookkeeping businesses for students to start?

Small business: assist small businesses with their financial record-keeping.

Virtual services : provide remote and online bookkeeping services to clients.

Tax preparation : expand services to include tax preparation and filing.

Financial consulting: offer financial advice and consultation in addition to bookkeeping. Make sure you understand the risks and liabilities involved in providing businesses with financial advice that they may then act on.

12. Delivery services

Delivery services involve transporting goods or packages from one location to another. This can include food delivery, courier services or package delivery.

Why are delivery services a good business idea for students?

Delivery services can be scheduled around class hours and student availability. Basic delivery services can be started with a vehicle or even a bicycle, meaning minimal startup costs.

What are some good delivery services for students to start?

Food delivery: partner with local restaurants for food delivery services.

Package delivery : delivering parcels for courier companies or retailers.

How to turn a student business idea into a successful business?

Choose a business idea that aligns with your skills, interests and market demand. For example, if you have a special talent for animation, then you can learn how to make money as an animator . Conduct market research to identify unmet needs or niches within your target industry. You can also consider choosing from recession-proof business ideas , to ensure no matter what you're able to maintain your business.

Create a detailed business plan outlining your business goals, target market, competition, financial projections and marketing strategy.

Explore funding options, such as personal savings, grants, loans or crowdfunding, to finance your business.

Effectively manage your time to balance coursework, business operations and personal life. Create a schedule that accommodates your class schedule and business needs.

Build a network of mentors, peers and potential clients. Networking can provide valuable guidance and opportunities for collaboration.

Establish a strong online presence through a business website , social media and e-Commerce platforms (you can do this by making an eCommerce website of your own) if applicable. Online visibility is essential for attracting customers and clients via an eCommerce model.

Prioritize the quality of your products or services and provide excellent customer service. Satisfied customers are more likely to return and refer your business.

Ensure your business complies with all relevant laws and regulations. This includes registering your business and applying for business licenses, permits, taxes and intellectual property considerations.

Develop effective marketing strategies to reach your target audience. Consider digital marketing, social media, content marketing and traditional advertising methods too.

Be prepared to adapt to changes and challenges in the business landscape. Flexibility and the ability to pivot when necessary are key to success.

Keep accurate financial records and budget your expenses wisely. Monitor your business's financial health regularly.

Seek feedback from customers to identify areas for improvement. Be open to making necessary changes and enhancements to your business.

Consider seeking mentorship from experienced entrepreneurs or professors who can provide guidance and support. They can provide invaluable advice, such as this from Anegl Gregorio, Founder of the Spice Suite , "The best advice that I give to people is always 'Start now, perfect later,'” she says. “I never got so tied up in the need to perfect it all. I'm here to say, 'Just start it. You can fix it along the way. If you build your tribe and your community, they will go along the journey with you.’"

Explore more business ideas

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Beauty business ideas

Reselling business ideas

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Startup Dreams: 20 Business Ideas for College Students

College is a time for exploring new activities and discovering what interests you. It’s also an excellent opportunity to contemplate your future career path. Starting your own business is one way to stand out from your peers while gaining invaluable experience. However, devising a unique and viable business idea can be challenging, especially when balancing lectures, exams, and other commitments.

That’s why we’ve created this post to offer college students ideas and guidance on launching their unique businesses. We will explore various industries, providing practical tips and resources to help you achieve your entrepreneurial aspirations. Whether you’re a business major or keen to explore your creative side, this post aims to inspire and empower you to embark on your entrepreneurial journey with the best business ideas for college students.

Business Ideas for College Students Starting Their Own Startups

For college students, initiating a business venture can be both challenging and rewarding. It offers an opportunity to sharpen your skills, gain valuable experience, and potentially make a societal impact. With the rapid advancement of technology and the widespread use of the internet in modern society, college students have more opportunities than ever to start their businesses.

This post delves into inventive business concepts tailored for college students eager to launch their startups. We’ll provide practical advice and essential tips to help kickstart your entrepreneurial journey, whether you’re contemplating a social media marketing agency or an eco-friendly product venture.

Hiring a digital marketing service is a strategic move once you’ve started a business. These services can effectively promote your business online, leveraging tools like SEO, social media marketing, and email campaigns to reach a wider audience.  Are you an aspiring entrepreneur in search of inspiration? Or perhaps you’re looking for innovative ideas? Either way, we’ve got you covered. Keep reading to discover exciting business ideas that you, as a college student, can pursue.

Virtual Event Planning

The rise of remote work and virtual meetings has increased the demand for skilled virtual event planners. As a college student, you might already possess the necessary skills for this field, such as organizational and communication abilities, multitasking, and familiarity with internet technologies. By leveraging these skills, you can establish a virtual event planning business, catering to organizations, enterprises, and individuals seeking impactful online events.

To start, you’ll need essential equipment like high-speed internet, a reliable computer, and a quality headset/microphone. Familiarize yourself with virtual event planning tools like Zoom , WebEx , or GoToWebinar . Then, develop a professional brand and marketing strategy to attract clients. With the growing need for virtual event services, college students have ample opportunities to earn income, gain valuable experience, and thrive in the event planning and management sector.

Dorm Cleaning Service

Launching a dorm cleaning service is an excellent entrepreneurial opportunity for college students. This idea addresses a common issue among many students: maintaining a clean dorm room. As the owner of a dorm cleaning business, you can provide a valuable service that allows fellow students to concentrate on their studies and social lives, without the stress of cleaning their living spaces.

Starting this business is relatively straightforward, with low initial costs. You’ll need basic cleaning supplies and a business license. Market your services by distributing flyers on campus, going door-to-door in dorms, or using social media platforms.

As your client base grows, consider hiring fellow students to help with cleaning. This expansion will enable you to handle more clients and grow your business. You can also offer additional services for a fee, like laundry or organizing.

This business idea has great potential for scalability. If successful at one university or college, consider expanding to other campuses or even different cities. With effective marketing and branding, you can establish a thriving and profitable business that offers a much-needed service to college and university students.

Also Read: From Novice to Pro: 80 Digital Product Ideas That Sell

Starting Your Own Tutoring Service

Launching a tutoring service can be a profitable venture for academically-inclined students who enjoy teaching. To start, create a business plan that details your services, pricing structure, and marketing strategies. Reach out to potential clients through social media and word-of-mouth referrals. Attract new customers and stand out from the competition by offering initial sessions for free or setting up referral incentives.

As your business grows, prioritize client needs and feedback to build a reputation for quality education and individualized attention. Tutoring services are in high demand due to the growing need for personalized education. Starting your own tutoring business can provide valuable experience in both teaching and entrepreneurship, along with the opportunity to earn additional income. By leveraging your academic achievements, you can help other students reach their educational goals and build a rewarding career.

Delivery Service

If you’re seeking a flexible way to earn extra income, consider starting your own delivery service. With just a car or bicycle, you can deliver a variety of items, such as food, groceries, or other goods, to people in your local area or on your college campus.

Begin by collaborating with existing delivery apps like Uber Eats or Postmates, or promote your services independently by posting flyers around town or on social media platforms. Whether you have a few hours in the evening or want to work weekends, this can be a great way to make money on your schedule.

By providing a reliable and swift delivery service, you can build a loyal customer base and become the preferred delivery provider in your community. With dedication and hard work, you may even expand your delivery service into a full-time business!

Voice-Enhancement App

Consider an app that transforms voice messages into something extremely intriguing, going beyond typical speech upgrades to provide users with a variety of fascinating capabilities. Imagine integrating it with your existing messaging software, such as iMessage, to add artistic effects, clip audio files, or experiment with other entertaining features in your voice messages.

Having a co-founder with strong expertise in coding and software development is critical to making this happen. The exciting part is that this venture doesn’t demand a large, expensive office; it could be developed and launched directly from a college dorm room. Alternatively, you could turn this idea into user-friendly software that everyone can enjoy.

Given the increasing popularity of audio communication—whether typing out texts, sending frequent voice messages, or using voice-activated devices like Amazon Alexa—this concept holds a lot of promise. Validating this idea might pave the way for the next great social enterprise.

Online Additional Courses To Improve College Learning

Developing online courses complementing college curricula can be an outstanding way to aid students in their academic journeys. By offering alternative perspectives, these courses can make the material more accessible and easier to grasp, especially for students who may struggle in conventional classroom settings.

It’s crucial, however, that the content you create is original and not merely a copy of existing college courses. Plagiarism can lead to legal issues, so it’s important to present the material in a unique and personal manner.

Students interested in these online courses could pay per class or opt for a package deal if multiple courses are offered. Having skills in video editing and course creation is beneficial to produce high-quality content that effectively engages and educates students.

Online Service To Transcribe Documents In Multiple Languages

Starting an online multilingual document transcription service is an innovative business idea for college students proficient in their native language and the language of their study country. This idea is especially relevant for international students studying in non-English speaking countries.

To begin, all you need is a computer and internet access. Set up a website where individuals or businesses can upload documents in one language to be transcribed into another. Offering this service online streamlines the process, eliminating the need to handle physical documents.

There are several benefits to this business model. It offers the flexibility to work from anywhere at your convenience. As the business grows, you can employ more students, allowing you to accept more clients and expand your services. Plus, as an online service, you have the potential to cater to a global clientele, making it a truly international business opportunity.

The Lucrative Print-on-Demand Merchandise

The print-on-demand industry has surged in popularity, especially among students and young entrepreneurs. The ease of collaborating with artists and suppliers to print designs on a variety of items, including t-shirts, phone cases, and more, has significantly increased the demand for personalized products.

Platforms like Shopify simplify launching a print-on-demand business. This model allows products to be produced only when ordered, reducing the need for extensive inventory management. Students can leverage Instagram influencers and other social media platforms to promote their businesses effectively. Print-on-demand has emerged as a profitable and sought-after business model, providing a fantastic opportunity for entrepreneurs to start their ventures with minimal upfront investment.

Starting A Home-Based Food Catering Business

For culinary enthusiasts looking to turn their passion into a profession, starting a home-based food catering business is an excellent choice. One of the key advantages of this venture is the ability to tailor your investment to the scale of your desired setup. You can start small, gradually expanding your customer base by serving neighbors and friends, and grow as you gain more experience.

To promote your business, consider creating a website and joining networks that offer home delivery services. Additionally, social media and digital marketing tools can be powerful ways to advertise your services and reach a broader audience.

Overall, starting a home-based food catering business can be a deeply rewarding experience for those who love cooking and sharing their culinary creations with others.

Also Read: How to Start a Blog and Make it Successful in 2024 – A Guide for Beginners

Starting A College Research Paper Writing Service

Launching a business that offers research paper writing services to college students can be a profitable venture for those with strong writing skills and a knack for research. The concept involves creating a website where students from various colleges can request research papers and make a deposit payment for the assignment.

As the business owner, you would operate from your dorm room and charge a fee for your writing services. Many students are willing to pay for well-crafted papers, as these can significantly impact their grades.

However, it’s important to be aware that some colleges and universities have policies that may prohibit students from using such services. To navigate around these restrictions and further develop this business idea, collaborating with other students might be a viable option.

App Developer

If you’re an aspiring app developer looking to monetize your skills, creating your own app and charging a fee or offering in-app purchases is one way to do it. It’s essential to ensure that your app provides substantial value to encourage users to pay.

Another route is to offer your app development services to businesses on a contractual basis. You can generate a steady income by creating bespoke apps for various clients, and this approach also allows you to broaden your experience by working with different organizations and designing apps for a range of industries.

Participating in online forums and attending conferences can help you stay current with the latest app development trends and technologies. By continuously honing your skills, you can become a sought-after app developer and significantly boost your earning potential.

Certified Fitness Instructor

As a college student with a passion for fitness, becoming a Certified Fitness Instructor offers a lucrative business opportunity. You can conduct fitness sessions for fellow students eager to improve their health and wellness, either on campus or online. 

Gaining a certification not only validates your expertise and skills in fitness but also helps in attracting a broader clientele. Consider charging per session or offering package deals for multiple sessions to accommodate students’ budgets. With dedication and effective marketing, this venture can turn your fitness passion into a profitable business.

Email Marketing

For students with strong email composition skills, starting an email marketing business is a profitable and cost-effective idea. Despite the rise of various digital marketing tools, email marketing remains a crucial and powerful strategy for many organizations. Utilizing platforms like Upwork and PaperPerHour, students can showcase their email marketing prowess and acquire clients.

As a niche marketing field, email marketing allows students to start with minimal costs and incrementally increase their rates as they build their reputation and client base. With the right expertise and strategy, email marketing can offer significant growth opportunities for student-run businesses in the digital marketplace.

Specialized Virtual Assistant Services For College Professors

For college students, offering specialized virtual assistant services tailored to college professors and educators presents a unique business opportunity. While the virtual assistant market is competitive, specializing in academic-related tasks can set you apart. This specialization can include grading, preparing presentations, and handling other tasks unique to the academic world.

Focusing on these specific needs, college students can establish a niche in the virtual assistant industry, providing essential support to professors who often struggle to find assistance with their specialized tasks. Operating from home or a dorm room, this business model is not only convenient but also addresses a critical demand in the academic community.

Starting A Business As A College Admission Consultant

Having navigated the college application process successfully, you can leverage your experience by starting a business as a college admission consultant. This role involves providing personalized guidance to high school students to enhance their chances of getting accepted into their preferred colleges and universities.

Targeting affluent families willing to invest in your advisory services can be a strategic approach. Your pricing structure could include an initial fee for your services, with additional charges for each successful admission. With the appropriate software and tools, you can offer your services online through email and video consultations. This business idea not only allows you to share your expertise and skills but also offers the potential to generate additional income.

Providing Companionship To Seniors

With the senior population rapidly increasing globally, and in some areas being the fastest-growing age group, businesses have an opportunity to cater to this demographic. One way to do this is by setting up a senior companion service, focusing on areas with a high concentration of elderly residents.

In this venture, you can offer your time and companionship to seniors, either individually or in groups, for a fee. To reach potential clients, consider marketing your services within the local community. Additionally, you can assist seniors with tasks and errands they or their family members may not be able to manage. 

By hiring more students to work different shifts, you can expand the service and increase its availability. This business not only provides a valuable service to the elderly but also enables young students to connect with community members while earning an income.

Building A Successful Textbook-Sharing Service

Creating an online marketplace for college students to buy and sell used textbooks is a concept that holds appeal for many. While starting and running such a business can be challenging, it has the potential to be quite lucrative if executed properly.

A significant challenge to this model is the initial shortage of textbooks. This scarcity means that if there is a high demand for books, you might struggle to meet the supply, which can be costly. Therefore, it’s crucial to accumulate a substantial collection of textbooks before launching the business. 

Additionally, consulting with professors to determine if older editions of textbooks are acceptable for their courses is a smart move. This strategy can broaden the range of books you offer, making the service more appealing to students.

Turning Handwritten Notes Into Digital Text

This service is dedicated to converting handwritten notes into digital formats, including Word documents, Excel spreadsheets, and PowerPoint presentations. Catering to those who prefer in-person interactions, a proficient typist collects the hard copy notes directly from clients, adding a personal touch to the service. The pricing model is based on a per-word charge.

The service providers can establish a revenue-generating fee structure based on the volume of transcription. They charge a specific rate for every word transcribed from handwritten notes into digital text. This service is particularly useful for individuals seeking to digitize their handwritten notes for better organization, ease of access, and convenience.

Unlike purely online businesses, this service involves direct client engagement, requiring the physical collection of original notes. If personal interaction and face-to-face communication appeal to you, this business model could be an ideal fit. Meeting clients to collect their notes offers an opportunity to build personal connections and deliver customized services according to their specific needs.

Service for Plant Care in Dorm Rooms

Struggling to keep plants alive in your dorm room? Our Dorm Room Plant Care Service offers a convenient solution for students who love the idea of having plants but find it challenging to care for them.

We take care of the distribution and watering of plants, ensuring they stay healthy and vibrant in your dorm space. Plus, you have the option to rotate the plants periodically, according to your preference, whether it’s every few weeks or months. We understand that the costs associated with plants, pots, soil, and other supplies can be a hurdle in establishing this service. That’s why we suggest seeking financial support from your educational institution to help offset these initial expenses and make plant care more accessible for students.

Convenient Electric Scooter Rentals on Campus

Tired of the daily trek to classes on campus? We’ve got a solution to make your campus commute more convenient and fun! Introducing our electric scooter rental service, designed specifically with students like you in mind. We have strategically placed racks of electric and manual scooters around the campus, making it incredibly easy for you to rent a scooter whenever you need one. Whether you need a quick trip or a longer ride, our scooters are available for both per-minute and one-time rentals, ensuring you can get to your classes quickly and efficiently.

While investing in a fleet of scooters requires a significant initial outlay, this business model has potential beyond just our campus. With aspirations to expand to larger campuses, this concept has the potential to evolve into a more extensive enterprise with substantial profit opportunities. So, keep an eye out for our convenient scooter rentals and get ready to change the way you navigate campus.

Furniture Lending Service

Many college and university students invest in bespoke furniture for their dorms, only to dispose of or sell it a year later at a fraction of the cost. The problem lies in the furniture’s poor adaptability to various spaces and the time constraints students face when trying to sell it. This results in significant financial waste for both students and parents.

Here’s a practical solution: a college business concept that tackles this issue by offering dorm furniture rental. The idea involves collaborating with local furniture stores around schools to create personalized furnishings for each room. Students would pay a reasonable monthly or annual fee for the furniture they need, rather than making a one-time purchase.

To spread the word, implement an effective online advertising strategy on platforms such as Facebook, Instagram, or Google. This ensures that students are aware of the service before they arrive at school, providing them with a more financially sustainable and convenient alternative to investing in expensive, one-time-use bespoke dorm furniture.

Care Package Subscription Service

Launching a subscription service for care packages can provide comfort to students moving away from home for higher education, as well as to their parents. This service allows parents to send care packages to their children throughout the year. Filled with a variety of delicious and comforting food items, these packages aim to alleviate homesickness and offer a much-needed morale boost to recipients.

To keep costs down and support local businesses, the company can partner with local grocery stores and suppliers. However, considering many families are willing to pay a premium for this service, the subscription rate may be higher than that of other subscription box services. This business model offers a unique way to bridge the distance between students and their families, making it a meaningful and potentially profitable venture.

New Graduate Employment Consultation Service

Transitioning from college or university to the workforce can be daunting, particularly for those whose degrees don’t align directly with available job opportunities. Many recent graduates end up taking jobs unrelated to their fields of study. However, there’s an opportunity to address this issue with a new service aimed at helping recent graduates find employment related to their areas of study.

The introduction of this service would greatly benefit the university, enhancing its reputation as an institution that supports its students and alumni. This service could offer various packages, including guidance on crafting effective resumes and cover letters, conducting mock interviews to sharpen interview skills, and providing tailored advice for securing jobs in specific industries. A one-time fee could be charged for accessing these services.

By offering this service, the university demonstrates its commitment to helping graduates navigate the job market. It enables recent graduates to explore career paths that align with their degrees, increasing their chances of a successful professional life and making meaningful contributions to their fields.

How Do I Attract Students to My Business?

As a business owner aiming to attract student clientele, it’s crucial to understand your target audience and their values. Begin by conducting market research to pinpoint the needs and preferences of students in your area. Utilize this data to craft a marketing plan that resonates with their interests and motivations.

Secondly, leverage social media platforms like Instagram, TikTok, and Snapchat, which are popular among college students. These platforms offer an economical way to reach a broad audience. Also, consider collaborations with student organizations or influencers to widen your reach and enhance credibility.

Lastly, offering student-focused discounts, promotions, or loyalty programs can be highly effective. These incentives encourage students to choose your business over competitors, fostering brand loyalty and spurring word-of-mouth referrals, a potent tool for attracting new patrons. Employing these tactics can help you draw students to your business and establish a robust customer base.

In conclusion, college students possess the unique ability to generate innovative business ideas that can evolve into profitable ventures. To succeed, students need to identify a market need or problem and develop a distinctive solution or product to address it. Leveraging their academic knowledge and passions, they have the potential to create impactful businesses in fields like technology, healthcare, sustainability, and social impact.

Moreover, resources such as networking, mentorship, and access to incubators and accelerators can play a crucial role in helping students transform their ideas into successful enterprises. Through their creativity, dedication, and hard work, college students can turn their entrepreneurial visions into profitable businesses that positively impact the world.

Why should college students consider starting their own business?

College students often have fresh, innovative ideas and a unique perspective on the market. Starting a business allows them to develop critical skills such as leadership, problem-solving, and critical thinking, while also providing a potential income source.

What are some areas where college students can develop innovative business ideas?

Students can utilize their academic expertise and interests to create businesses in technology, healthcare, sustainability, social impact, and more. They can also identify market problems or needs and devise unique solutions or products to address them.

How can college students turn their business ideas into reality?

Students can make their business ideas a reality by conducting market research, formulating a business plan, and seeking mentorship and networking. They can also leverage incubators and accelerators to help launch their ventures.

What challenges might college students face when starting their own business?

Challenges may include a lack of experience, limited financial resources, and balancing academic commitments. With determination, dedication, and support, these obstacles can be overcome to create successful businesses.

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Business Plan Development Guide

(6 reviews)

Lee Swanson, University of Saskatchewan

Copyright Year: 2017

Publisher: OPENPRESS.USASK.CA

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Kevin Heupel, Affiliate Faculty, Metropolitan State University of Denver on 3/4/20

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element... read more

Comprehensiveness rating: 3 see less

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element of the business plan. Some examples from actual business plans would be helpful.

Content Accuracy rating: 4

For the most part, the content is accurate. The content covers all important aspects of drafting a business plan. I thought the industry analysis could use more information about collecting primary and secondary sources; instead, this information was referenced in the marketing plan section.

Relevance/Longevity rating: 5

Most of the content relies on cites as far back as 2006; however, when it comes to developing and writing a business plan nothing has changed. Thus, the content is current and there is no concern about it becoming obsolete in the near future.

Clarity rating: 4

The text is clear. There are no difficult terms used and the writing is simple. The text uses a lot of bullet points though, which gets tedious to read for a few pages.

Consistency rating: 5

The text does a good job of maintaining consistency in terms of framework and terminology. The text is organized where it's easy to find the information you want in a quick manner.

Modularity rating: 3

The text has a lot of bullet points and the paragraphs are dense. However, the use of subheading is excellent.

Organization/Structure/Flow rating: 5

The book is organized as if you're writing a business plan from start to finish, which is helpful as a practical guide.

Interface rating: 5

There are no navigation problems, distortion of images/charts, or any other display features that may distract or confuse the reader.

Grammatical Errors rating: 5

The text is free of grammatical errors. The sentence structure is simple with many bullet points, which helps to avoid any grammatical issues.

Cultural Relevance rating: 5

This book was written by a Canadian professor and provides references to Canadian sources. However, the information in this text can be used for U.S. schools.

This book is very short and provides a good, general overview about the process of creating and writing a business plan. It won't help a reader if he/she is confused about a certain part of the business plan. The reader will have to find another source, such as "Preparing Effective Business Plans" by Bruce Barringer, Ph.D. The book provides links to good resources and a finished business plan that the reader can reference. I would recommend the book for undergraduate courses.

Reviewed by Kenneth Lacho, Professor of Management, The University of New Orleans on 6/19/18

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or... read more

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or economic area relevant to this proposed business. 4. Business model ok as a guide. 5. Suggested mission statement to cover: product/business, target customer, geographical area covered. 6. Need detailed promotion plan, e.g., personal selling, advertising, sales promotion, networking publicity, and social media. 7. How do you find the target market? 8. Chapter 6 too much detail on debt and equity financing. 9. Discuss how to find sources of financing, e.g., angels. 10. Expand coverage of bootstring, crowdfunding. 11. Chapter 4 – good checklist. 12. Chapter 3 - overlaps. 13. Chapter 7 – 3 pages of executive summary – double or single spaced typing. Number all tables, graphs. 14. Some references out-of-date, mostly academic. Bring in trade magazines such as Entrepreneur.

Content Accuracy rating: 5

In my opinion, the content is accurate and error free.

Relevance/Longevity rating: 4

The material is relevant to writing a business plan. I wonder if the Porter, SWOT VRIO, etc. material is too high level for students who may not be seniors or have non-business degrees (e.g., liberal arts). Porter has been around for a while and does have longevity. The author has to be more alert to changes in promotion, e.g., social media and sources of financing, e.g., crowdfunding.

Clarity rating: 3

As noted in No. 9, the tone of the writing is too academic, thus making the material difficult to understand. Paragraphs are too long. Need to define: Porter, TOWS Matrix, VRIO, PESTEL. A student less from a senior or a non-business major would not be familiar with these terms.

Consistency rating: 4

The text is internally consistent. The model approach helps keep the process consistent.

Modularity rating: 4

The process of developing a business plan is divided into blocks which are parts of the business plan. Paragraphs tend to be too long in some spots.

Organization/Structure/Flow rating: 4

The topics are presented in a logical step-wise flow. The language style is too academic in parts, paragraphs too long. Leaves out the citations. Provides excellent check lists.

There are no display features which confuse the reader.

Grammatical Errors rating: 4

The text has no grammatical errors. On the other hand, I found the writing to be too academic in nature. Some paragraphs are too long. The material is more like an academic conference paper or journal submission. Academic citations references are not needed. The material is not exciting to read.

The text is culturally neutral. There are no examples which are inclusive of a variety of races, ethnicities, and backgrounds.

This book best for a graduate class.

Reviewed by Louis Bruneau, Part Time Faculty, Portland Community College on 6/19/18

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials. read more

Comprehensiveness rating: 5 see less

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials.

Contents of the book were accurate, although it could have benefited from editing/proofreading; there was no evidence of bias. As to editing/proofreading, a couple of examples: A. “Figure 1 – Business Plan… “ is shown at the top of the page following the diagram vs. the bottom of the page the diagram is on. (There are other problems with what is placed on each page.) B. First paragraph under heading “Essential Initial Research” there is reference to pages 21 to 30 though page numbering is missing from the book. (Page numbers are used in the Table of Contents.)

The book is current in that business planning has been stable for sometime. The references and resources will age in time, but are limited and look easy to update.

Clarity rating: 5

The book is written in a straightforward way, technical terms that needed explanations got them, jargon was avoided and generally it was an easy read.

The text is internally consistent in terms of terminology and framework.

Modularity rating: 5

The book lends itself to a multi-week course. A chapter could be presented and students could work on that stage of Plan development. It could also be pre-meeting reading for a workshop presentation. Reorganizing the book would be inappropriate.

The topics in the text are presented in a logical, clear fashion.

Generally, the book is free of interface problems. The financial tables in the Sample Plan were turned 90° to maintain legibility. One potential problem was with Figure 6 – Business Model Canvas. The print within the cells was too small to read; the author mitigated the problem by presenting the information, following Figure 6, in the type font of the text.

I found no grammatical errors.

The text is not culturally insensitive or offensive in any way.

I require a business plan in a course I teach; for most of the students the assignment is a course project that they do not intend to pursue in real life. I shared the book with five students that intended to develop an actual start-up business; three of them found it helpful while the other two decided not to do that much work on their plans. If I were planning a start-up, I would use/follow the book.

Reviewed by Todd Johnson, Faculty of Business, North Hennepin Community College on 5/21/18

The text is a thorough overview of all elements of a business plan. read more

Comprehensiveness rating: 4 see less

The text is a thorough overview of all elements of a business plan.

The content is accurate and seems to lack bias.

Content seems relevant and useful . It does not help an entrepreneur generate ideas, and is very light on crowdfunding and other novel funding source content. It is more traditional. This can be easily updated in future versions, however. "Social Media" appears once in the book, as does "Crowd Funding".

The book is comprehensive, but perhaps not written in the most lucid, accessible prose. I am not sure any college student could pick this up and just read and learn. It would be best used as a "teach along guide" for students to process with an instructor.

The text seems consistent. The author does a nice job of consistently staying on task and using bullets and brevity.

Here I am not so certain. The table of contents is not a good guide for this book. It does make the book look nicely laid out, but there is a lot of complexity within these sections. I read it uncertain that it was well organized. Yes there are many good bits of information, however it is not as if I could spend time on one swathe of text at a time. I would need to go back and forth throughout the text.

Organization/Structure/Flow rating: 2

Similar to the above. I did not like the flow and organization of this. An editor would help things be in a more logical order.

Interface rating: 2

The interface is just OK. It is not an attractice interface, as it presents text in a very dense manner. The images and charts are hard to follow.

I did not find any grammatical errors.

Cultural Relevance rating: 4

I a not certain of the origins of Saskatchewan, but I do feel this is a different read. It is more formal and dense than it has to be. This would be a difficult read for my students. I do not feel it is insensitive in any way, or offensive in any way.

I would not adopt this book if given the chance. It is too dense, and not organized very well, even though the information is very good. The density and lack of modularity are barriers to understanding what is obviously very good information.

Reviewed by Mariana Mitova, Lecturer, Bowling Green State University on 2/1/18

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to... read more

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to other resources add to the completeness of the textbook.

Content seems accurate.

Since the content is somewhat conceptual, the text will not become obsolete quickly. In addition, the author seems to be updating and editing content often hence the relevance to current developments is on target.

The text is very clear, written in clear and straight-to-the point language.

The organization of content is consistent throughout the entire text.

The textbook is organized by chapters, beginning with overview of the model used and followed by chapters for each concept within the model. Nicely done.

The flow is clear, logical and easy to follow.

Overall, images, links, and text are well organized. Some headlines were misaligned but still easy to follow.

No concerns for grammar.

No concerns for cultural irrelevance.

Reviewed by Darlene Weibye, Cosmetology Instructor, Minnesota State Community and Technical College on 2/1/18

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning. read more

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning.

The text was accurate, and error-free. I did not find the book to be biased.

The content is up-to-date. I am reviewing the book in 2017, the same year the book was published.

The content was very clear. A business plan sample included operation timelines, start up costs, and all relevant material in starting a business.

The book is very consistent and is well organized.

The book has a table of contents and is broken down into specific chapters. The chapters are not divided into sub topics. I do not feel it is necessary for sub topics because the chapters are brief and to the point.

There is a great flow from chapter to chapter. One topic clearly leads into the next without repeating.

The table of contents has direct links to each chapter. The appearance of the chapters are easy to read and the charts are very beneficial.

Does not appear to have any grammatical errors.

The text is not culturally insensitive or offensive.

I am incorporating some of the text into the salon business course. Very well written book.

Table of Contents

Introduction

• Chapter 1 – Developing a Business Plan
• Chapter 2 – Essential Initial Research
• Chapter 3 – Business Models
• Chapter 4 – Initial Business Plan Draft
• Chapter 5 – Making the Business Plan Realistic
• Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur
• Chapter 7 – Finishing the Business Plan
• Chapter 8 – Business Plan Pitches

References Appendix A – Business Plan Development Checklist and Project Planner Appendix B – Fashion Importers Inc. Business Plan Business Plan Excel Template

Ancillary Material

About the book.

This textbook and its accompanying spreadsheet templates were designed with and for students wanting a practical and easy-to-follow guide for developing a business plan. It follows a unique format that both explains what to do and demonstrates how to do it.

About the Contributors

Dr. Lee Swanson is an Associate Professor of Management and Marketing at the Edwards School of Business at the University of Saskatchewan. His research focuses on entrepreneurship, social entrepreneurship, Aboriginal entrepreneurship, community capacity-building through entrepreneurship, and institutional-stakeholder engagement. Dr. Swanson’s current research is funded through a Social Sciences Humanities Research Council grant and focuses on social and economic capacity building in Northern Saskatchewan and Northern Scandinavia. He is also actively studying Aboriginal community partnerships with resource based companies, entrepreneurship centres at universities, community-based entrepreneurship, and entrepreneurial attitudes and intentions. He teaches upper-year and MBA entrepreneurship classes and conducts seminars on business planning and business development.

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The Complete Guide to Business Ideas for College Students

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More than ever, young people are starting businesses. We’ve long since passed the days when starting a business in college was an outlier. Coming up with strong ideas that will launch a profitable business is more important than ever.

The life of a college student is hectic. While there may be some free time, most students have a full plate of work, classes, homework, and socializing. Starting an independent business with the right business idea can make a student’s crazy schedule easier to manage because it’s more lucrative and flexible than most part-time jobs. It’s also a great way to build a solid foundation for the future.

Finding the right business idea in college can be tough because founders and inventors still in school often don’t have enough real-world experience or connections to get investor funding, anticipate urgent pain points, or recognize whether their ideas are viable. This can lead to products that aren’t practical, wasted energy and time, and administrative and legal complications. 

Why College Business Ideas Are So Important

There are many benefits to starting a business while pursuing a college degree. It’s a chance to earn extra income with flexible hours. Running a business offers professional experience and a chance to try out different niches and industries. College can be challenging for hands-on learners, and starting a business in college provides an opportunity to apply the theories and ideas that come up in the classroom.

26% of entrepreneurs start two or more businesses in their life. With each business, owners and founders learn new tools and strategies that contribute to future success. A classroom can be the best place to test a risky idea. Coming up with business ideas in college isn’t a strategy for leaving school early; it’s an opportunity to make the most of your college investment. A college campus is also a great place to build a business toolbox. 

College startups offer an opportunity to hone skill sets that may be useful in the future. For example, if your business ideas are primarily mobile apps, you may want to take computer science classes to learn how they are made (not necessarily to make them yourself). Relevant college courses that relate to your business ideas can provide a better foundation for communication with your future team and help you set realistic expectations for your industry. 

Learning new skills can also connect you to people who share your passion and help hone your business ideas. Starting a business in college can also make it easier to narrow your sights on the right job after graduation.

Even better, students have access to heavy discounts to set up technology for a new business.  Colleges may offer copying and printing services, free Wi-Fi, extensive libraries, and private online resources that make it easier and less expensive to launch a business. And there’s no better place than a college campus for word-of-mouth advertising.

How To Develop Business Ideas As a College Student

42% of startups fail because the business idea isn’t something customers need. Instead of running with any business idea while in college, focus on the right one. 

When you’re trying to find the perfect product to sell, there are three questions that you should ask:

• What do people need?
• What do you love?
• What do you know?

Let’s dive into each of these further.

1. What do people need?

Start with your daily life and any problems you run into regularly. Many of these problems won’t seem like a big deal, like the fruit you buy at the grocery store molding before you can eat it. But you aren’t the only one to encounter it. You could invent or find a dropshipped product that can slow the molding process and keep your fruit fresh to solve this problem. Or maybe you want to address financial planning and budgeting for students with an app.

As you’re looking for problems to solve, think about the industries the problem relates to and other related problems. Then keep brainstorming about what manufacturing and development might look like or the supply chain. 

It might feel like these concerns are too complex to worry about yet. Still, if you plan to start a business while in college, you’ll soon realize that thinking about any new ideas from every possible angle is necessary for success. 

Excellent planning can cut down on risk, open up exciting avenues for growth, and help build the relationships any startup needs.

The problem you aim to solve does not need to require a product. Perhaps you encounter an issue of time, such as needing someone to walk your dog during the day while you work.

Other examples of business ideas that may solve a problem include:

• App development
• Dog walking
• Virtual assistant
• Tech support
• Affiliate marketing

When looking for problems to solve, involve others. Ask friends or family members what daily issues they’d like to fix, mitigate, or solve. Research what people search for or buy online and what issues they aim to solve or prevent.

2. What do you love?

Another great source for business ideas is your hobbies and passions. The business idea will connect to the communities you are already part of. The challenges and pain points will be easy for you to understand because of your experience and expertise.

Launching a business is more than making money. It’s easy to bail on a struggling business when it’s not a passion project, so coming up with original ideas is a better strategy than pulling from a list of someone else’s college business ideas. 

The right business for college students won’t just turn a profit. It will be a mission to dedicate significant time and energy to. Maybe you made memes for fun in high school. You could build a business in social media management in college. Find an area you already have relevant experience in and turn it into a service you can offer for profit. Other passion-based business ideas might be:

• Creating or testing video games
• Starting a blog
• Running a podcast
• Editing term papers
• Creating crocheting, knitting, or sewing patterns
• Logo and graphic design

Think about the things you already enjoy and see if there’s a way to turn that into a profitable venture.

3. What do you know?

For some, the first step toward a new business idea will pop up while on campus. For example, suppose you were at a career fair and noticed that students asked for assistance with grad school applications or career advice. In that case, you might think about creating a career consulting and application review service for students on campus. 

There are a ton of business ideas that would work at any college or university. Make the most of college connections, classrooms, and concerns. These business ideas can work on any campus:

• Tutoring/teaching
• Event planning
• Personal training or exercise classes
• Moving and packing services
• Lawn care/landscaping
• Painting and general handyman services

Consider what you already know how to do and who you know that may be looking for help. Use these answers to identify where you can make a difference.

Quick Tips To Improve & Refine Your Business Ideas 

Whether you’re just starting or have been playing with business ideas for a while, these quick tips can help you hone your loose thoughts into a tight business idea to start while in school.

Find a niche

No matter what business idea comes out on top, there will be stiff competition. In addition to popular local businesses, any new company will compete with a rapidly growing online market. 

It may seem counterintuitive, but the most effective way to grow an audience for a new business is to select a small and specific segment of people to market to. For a baking business, this might mean limiting baked goods to custom-decorated cookies or wedding cakes. For a personal trainer, focus on a specific type of exercise or a single type of fitness you excel at, like strength training for endurance runners. 

Every industry can benefit from innovative ideas, and the deeper you go into an area of interest, the more potential problems and solutions will rise to the surface. 

Ask a mentor

An excellent resource for college business ideas is the campus community. College is typically a moment where there is more time to try new things, meet new people, and learn from experts in different areas of study. 

These qualities make any college campus a hotbed of exciting and valuable business ideas. Set up an appointment with a mentor or professor on campus, organize a meeting with like-minded friends to brainstorm ideas, or set up a spot on campus that’s ideal for meeting new people and collect their opinions about your latest product ideas.

If you can find an expert or professor in the field of your general business ideas, having a mentor can be extremely valuable for first-time entrepreneurs. 

Read reviews

If you have a niche but haven’t settled on “the” business idea yet, start reading product or service reviews in your area of interest. You’ve probably had multiple “Aha!” moments scanning reviews in the past but didn’t write your ideas down because you were too busy shopping! 

Reviews are also a great resource to refine and develop an idea that’s still in progress. Learn from someone else’s mistakes before investing your time and energy in a new college business.

Be sure to look at negative reviews, too. As you read through what actual users and customers have to say about products and services in the area you’re interested in, you’ll see where companies are doing things well and where there is a problem to solve or a challenge that needs addressing. Researching user experiences is part of a broader concept called market research, which includes identifying pain points.

Long-Term Strategies for the Right Business Ideas for College Students

While the above tips are things you can start doing right now to come up with business ideas, these tips and strategies are looking to your long-term success.

Practice giving and receiving feedback

Students in creative majors get a lot of practice taking criticism since most writing and visual arts classes focus on making projects and participating in classroom critiques. Most other majors don’t get as much of this experience, but it’s essential to learn how to accept and use critical feedback on your ideas, especially if they have significant personal meaning. 

Criticism can be tough to take and sometimes our emotional responses to criticism can overpower the value of the critical input that we receive. Try to remember that anyone offering feedback is a potential future customer. There’s a good chance that anything that you’re hearing in a critique will come up again once people are paying for your products.

Practice giving constructive criticism and asking for it back from others on your ideas, business plan, and more. Don’t get defensive. Instead, reflect on the feedback and see if it makes sense with what you’re trying to build and accomplish. 

Remember, just because you receive feedback does not mean that you’ll implement all of it. Think critically about all feedback and criticism you receive and identify what makes sense to use and what doesn’t.

Come up with a business plan

Do you want your new business to last beyond college, or is it just something for right now? Starting any business is a commitment, so it’s smart to think about the long-term costs and benefits of each business idea. 

As you evaluate each of your business ideas, ask yourself:

• What will it take to scale? (tools, resources, labor, etc.)
• What are the risks?
• Will you need to hire help to make it work?
• Does the idea require skills and knowledge you don’t have yet?
• What kind of funding will the idea need? 

As you are getting ready to launch your new business, take the time to write a real business plan. Business plans include details like your market research, your specific products and/or services, your sales and marketing strategies, your plan for funding and investments, and more. You may not think you need one yet, but having a detailed business plan increases your chances of success with your new company.

You can use business plan software to assist in this step. A great software we recommend for beginners is LivePlan . LivePlan will walk you through the entire business plan process piece by piece, and even includes templates so that you aren’t starting from scratch. With the tutorials and support for first-time business owners, you can’t go wrong with LivePlan. 

LivePlan’s Standard package is just $15 per month and includes step-by-step instruction, a pitch builder, over 500 sample plan templates, financial forecasting, and financial statements. Plus, it comes with a 60-day money-back guarantee.

Start small and grow slowly

An initial great idea doesn’t always lead to a great business. What can seem like tiny details in the planning process can have a significant future impact on the product, marketing, and sales. Take some time to experiment and test ideas before jumping on your first inspiration.

The right business idea for a college student like you won’t be the best business idea for everyone. A valuable business idea should be fit for your unique skills and abilities. It should be something you can create and run in the extra time you have available during the school year and holiday breaks. You’ll also want it to be something you enjoy or care about enough that you will put your business ahead of the friends and activities outside of school that are also vying for your time and attention.

When a business sees early success, it can feel like every moment should go toward growing the business. But if your business idea gets big too fast, you’ll be unable to balance school and work, and both will suffer. Look for ideas with growth potential that you can start small, like a t-shirt business on campus. As school becomes less demanding and your marketing and business operations skills improve, you’ll find the right time to add new products, expand to other campuses, or start utilizing social media.

As you start coming up with business ideas, this guide for starting a business for under $100 will walk you through creating a business plan, naming your business, and setting up hosting and a domain name.

The most budget-conscious way to launch a new business is to start an ecommerce site. This simple guide, How to Start an Online Store and Make Your First Sale , has everything you need to start selling with your new business idea!

And after launching your business, don’t sit on branding! Here is a guide to building your brand and why it is your most powerful marketing tool.

Make your website better. Instantly.

Keep reading about operations.

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Empowering Success: How to Write a Business Plan in College

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

Streamline Your Business Planning Activities with Real-Time Work Management in Smartsheet

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The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

Niagara College

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Business Plans are released yearly, and review the Niagara College budget and business objectives.

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Niagara College acknowledges that we are gathered on the shared traditional lands of the Anishinaabe (pronounced: ah-nish-naw-bay) and Haudenosaunee (pronounced: ho-deh-neh-show-nee). We offer our sincere gratitude to them as the stewards of this land, which is protected by the Dish With One Spoon Wampum agreement’s three principles: to take only what you need, leave enough for others, and always keep the dish clean. Today, many First Nations, Métis, and Inuit communities from across Turtle Island continue to live and work in this territory. Acknowledging the peoples whose territory we are on, and the agreements that guide their stewardship of the land, reminds us to reflect on and respect their unique relationship to this land. It also is an invitation for all of us to identify and engage in actions that respect and reinforce our commitments to Truth and Reconciliation and Indigenous Rights.

Here’s the pitch! UTA College of Business Departments pitch their curriculum at Meet the Majors

Monday, Aug 26, 2024 • Thomas Johns : [email protected]

The University of Texas at Arlington College of Business held a Meet the Majors event on August 17, 2024.

The event introduced new and undeclared students to the College of Business Advising Team, Student Organizations, Department Chairs, and educated them about the variety of majors and disciplines the college offers.

“For me, Meet the Majors was something that gave me a great idea about how everyone at the College of Business cares for you , ” said Richa Desai, College of Business Junior. “I came to this event last year and was introduced to a lot of student organizations that I ended up joining. It really has been a full circle moment for me, because now I get to be here recruiting new members!”

Students meet with a Department Chair during the 2024 M eet the Majors Event. (Photo by Jalen Larry)

The event was geared toward students who had not declared a major, to learn about the paths required to attain each major, the types of information they’d be learning pursuing specific degrees, and the outcomes that each program could lead to.

“I’ve actually learned about a lot of majors that I didn’t know the school offered,” said Vy Pham, College of Business Freshman. “A lot about business is networking, s o it ’s great to start to get to know people, especially around your schoo l. I feel a lot more prepared after coming to this event because I now have a better idea about what I want to do and how to plan out my future.”

The event also allowed students to meet academic department leadership through the Department Chairs, and the advisors who will help them choose and pursue each degree program. 

“This event wasn’t a thin g when I enrolled here as a freshman , so knowing what I know now and being able to share it with incoming F reshman is very important,” said Carolina Paz College of Business Student Ambassador. “Coming in you don’t even know what to major in a lot of times. So, if it were me as a freshman , being able to get a description of each major through a fun event would have helped a lot.”

The Meet the Majors event aims to connect students with academic peers, staff, and faculty to set them out on the right foot while beginning their college experience and selecting a major to work towards during their educational journey.

See it in motion here !

A Department Chair explains his department's classes and majors at the 2024 Meet the Majors Event. (Photo by Jalen Larry)

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I've been a student in the UK for 6 years. But my family in the US is getting older, and I'm torn about moving back to be with them.

• Scarlett Kiaras-Attari, 24, grew up romanticizing the idea of living in the UK.
• In 2018, she moved to Edinburgh for her undergraduate studies and later pursued her master's and Ph.D.
• She recently considered moving back to the US to be closer to family.

This as-told-to essay is based on a conversation with Scarlett Kiaras-Attari, a marketing executive and education content creator who moved to the UK for her studies. It has been edited for length and clarity.

I knew from a young age that I wanted to live in the UK someday.

I was born in London to an Iranian-British father and an American mother, but I was raised in Louisville, Kentucky. Throughout my childhood,   my dad shared   fond memories of growing up in the UK, and I became enamored by the idea of living there again.

When deciding where to go for college, it was an easy decision to go to the UK , as I also hold a British passport. But where I grew up, it's not common to go abroad for college . Most of my peers stayed in the South — even moving to New England was considered far.

I applied to a few safety schools in the US but got accepted to the University of Edinburgh. In 2018, I packed my bags and moved to Scotland .

I enjoyed student life in Scotland

At Edinburgh , I could study what I wanted — History — and didn't have to fiddle with other subjects, which would have been required at most liberal arts programs in the US.

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The price was also a huge advantage. I paid around  $24,500  a year, compared to  $67,446 for out-of-state tuition at the University of Chicago, where I had also applied.

As a student under 22, I could travel for free by bus throughout Scotland.

The advantage of studying there was also being able to experience new cultures and visit other European countries .

After graduating, I had no desire to return to the US

I wanted to pursue a master's in medieval history. Although there are so many great departments in the US for religious studies and medieval history, my mentors at school had all studied at Oxbridge — colleges across Oxford and Cambridge. So, in 2022, I followed their advice and pursued a master's in Medieval History at the University of Oxford.

When I finished my master's this year, I still wasn't ready to leave. I didn't want to return to the US because all my friends were in the UK. If I returned, I would have to start again to build connections and friendships.

I was in this middle ground where I wished I could just pack up everything and move everything in my life altogether at once. That's the difficulty of expat life — there's the US in the UK version of myself, and I'm always teetering between two places.

Looking back, I cringe at how obsessed I was with the UK

I was fascinated by William Shakespeare's "Richard III" and adored "Horrible Histories" — a British children's TV show about historical events — and other media that came from the UK.

When you romanticize a place, you think it can do no wrong. After my move, I realized that the UK does not have the glowing hearts around it as I had pictured. It has its quirks and flaws — but I still love it.

When I first got here and felt frustrated about life in the UK, I would remember being a child and seeing a double-decker bus — a symbol of the UK from an international perspective.

I'd look at it intently and think, "This is the magic of the UK. This is where I wanted to be."

I plan to stay in the UK to further my studies

In September, I will start my Ph.D. in Classics at King's College London.

Although I used to think that I'd stay in the UK, I've recently started to think about how my family members are getting old.

I miss my family. I call and text them all the time, and my parents come to visit every so often. As a student, I've had the flexibility to go home around the December holidays. Sometimes, I don't even realize how long it's been since I've seen them in person.

I have four more years in the UK to complete my Ph.D, and I know the US will always be there for me. So, I'm open to returning at some point.

Do you have a story about choosing to attend college outside the US that you want to share? Get in touch with the reporter, Erin: [email protected] .

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Molly Graham: Helping new Black Bears bridge the gap between high school and college

Molly Graham put the Girl Scout motto “Be Prepared” to work this summer as she helped plan the 2024 Business Bridge Week for incoming first-year students.

A lifelong member of the Girl Scouts, Graham credits the organization with her drive and passion to help others. “Be a sister to every Girl Scout” is the message she lives by. It was during a Girl Scout leadership conference at the University of Maine when she decided she wanted to study finance. As a ninth grader, she met women leaders from all industries and particularly enjoyed learning about being a financial advisor. 

“I was inspired by how the speaker volunteered her time to give back to her community,” Graham said. “She taught financial skills pro bono to help others. That’s what I want to do. I want a career that is forward facing, helps people and fosters relationships.”  

As a first-generation college student from Lincoln, Maine, Graham is proud to be on the road to becoming the first in her family to earn a college degree. She has spent her summer before her sophomore year working full time for the Maine Business School. She is one of two students who worked alongside staff to plan and execute New Student Orientation and Business Bridge Week. 

A mandatory orientation, Business Bridge Week is designed for incoming first-year business students. The six-day event kicks off the week before classes start and is tailored to ease the transition to college by helping new students acclimate to campus and build meaningful connections with their peers, faculty and staff.

Graham, who participated in Business Bridge Week last year, is thrilled to have the opportunity to make the event impactful for new MBS students.

“Bridge Week was amazing for me,” she said. “I was terrified to go to college. My parents and I had no idea how to navigate the transition from high school to college. It was incredibly stressful. If it wasn’t for bridge week and the MBS community, I probably would have dropped out of school.”

Instead, Graham thrived during her first year with MBS. Bridge Week gave her the space, time and confidence to realize she didn’t need to have all the answers the second she stepped foot on campus. She participated in all the Bridge Week programming, meeting a multitude of students each day. She took advantage of the MBS Mini Organization Fair to sign up for three student organizations and made lifelong memories careening down the Penobscot River in a whitewater raft. 

Graham also made meaningful relationships with MBS staff and the MBS Student Ambassadors who lead Bridge Week orientation. She was inspired by the ambassadors, who led social and academic events held in the Business Living Learning Community (LLC) in Somerset Hall. She applied and was accepted to be an MBS Ambassador during her second semester at UMaine. 

“These older students became my mentors,” she said. “I want to be that person for someone else.” 

Graham is also part of Team Maine, a leadership team that works exclusively with Enrollment Management in recruiting the next class of Black Bears. The majority of first-year business students live in the Business LLC, and Graham was no exception. 

“I loved living in the LLC!” she said. “That’s why I decided to be a resident assistant during my sophomore year.”

She will also be a peer leader, directing first-year students during the Friday cohort sessions of their Intro to Business class. All first-year students are enrolled in the course in their first semester. They attend lectures on Mondays and Wednesdays and are split into small cohorts led by MBS Peer Leaders on Fridays. Their goal is to practice real-world business concepts and solve problems using the principles they’re learning in their lectures. 

Graham said she looks forward to welcoming the new business students and seeing all of her hard work come to fruition. 

“The Maine Business School is all about community. Bridge Week is all about making new friends and getting comfortable with campus. That’s the reason I decided to come to UMaine. I want to help these new students expand their community and feel welcomed like I did,” she said.

Incoming students are bound to run into Graham at some point during their first year at UMaine. That could be at Bridge Week, in their Intro to Business cohort, in the MBS Student Success Center, in their residence hall as she leads programming or in the Alfond Arena cheering on the Men’s Hockey Team. They may also see her at the American Marketing Association, MBS Corps or SPIFFY (Student Portfolio Investment Fund). 

Her advice to incoming first-year students is simple: get involved. She took advantage of all the personal and professional development opportunities MBS had to offer, including the Bear Treks trip to Bangor and Boston, getting her professional headshot taken and interviewing for the on-campus employment opportunities that sparked her passions. 

“Don’t be afraid to just show up and try something new,” she said. “There are opportunities all around you — don’t wait for a personal invitation. Just show up!”

Contact: Melanie Brooks, [email protected]

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