College life can be tough or simple depending on what you do during your free-time. Some of the entrepreneurial students have found ways of earning extra income to supplement their monthly stipends by investing in viable business opportunities. We have prepared a list of the best 10 business ideas that students can start in and out of college with KSh.0 to KSh.50, 000.
Here is a comprehensive of the best 10 business ideas for college students:
Printing and Photocopy Business
College students spend a lot of money photocopying assignments and printing handouts. If you are a student, you can invest in a laptop/desktop and a printer that will cost you at least KSh.30, 000. You can as well rent or borrow a friend’s laptop before you acquire one. You can run this business in the student allocated tuck Shops or in hostels. If you will be doing this business in your hostel room, you will not incur huge operational costs such as rental expenses, business permits and electricity charges.
Selling Second-hand Clothes
College students love fashion. Most of the average students prefer second-hand clothes that are cheaper than new clothes. The Mitumba clothes business booms during the weekends when students are free or are going for outings. You can start this business with as low as KSh. 1000 for a start and grow with time.
You can start with fast-moving clothing items. Ladies buy clothes more regularly unlike their male counterparts, making ladies wear more profitable. Before investing your cash in this business, do a quick research among friends to identify the type of clothes they would prefer.
Some of the college students rarely find time to wash their clothes due to their busy schedule. Others are just lazy to do their washing and would prefer to spend some little cash to have their clothes washed. You can gang up with two or three other friends and identify students who are willing to pay someone to wash their clothes. The only expenses are detergents and bar soaps just in case the student clients don’t provide them.
There are lots of opportunities online and most students have successfully made an income out of this. Actually, some of the students continue with freelance writing on a full-time basis after completing studies.
You can do simple data entry jobs, transcription, article writing, blogging, academic writing, etc. The requirement for this job is a laptop/desktop and internet and of course find someone to train you if you don’t have the time to Google training materials online. If you make good income online, remember to invest elsewhere for a bad day.
Graphic and Web Design
Some of the best graphic and web designers trained themselves when they were in campus. Graphic and web design jobs pay relatively well and you can source jobs locally and internationally. A graphic designer designs posters, logos, photos, etc. and are paid for each job completed. Web designers design websites and blogs at a fee. If you are lucky to have good clients, then you will be on your way to a six-figure income.
T-shirt printing business is quite profitable especially when you target the younger generation. You can get orders to print t-shirts for birthdays, parties, games and other social functions. You can invest in a high-quality printing machine and enjoy all the profits on your own. Alternatively, find a good businessman/woman in town and outsource your t-shirt printing jobs and agree on a profit-sharing plan.
Operating a Barbershop and Salon
Salon and barbershop business is one of the few businesses that pay you handsomely. To succeed in this business, ensure you have the best skills and a strategic location. The business will do well in a fixed location, either outside the campus or in one of the tuck shops. However, if you are just starting out, you can start by visiting clients in their homes or at an agreed location.
If you lack the necessary skills for this business, outsource skills either outside the college or among other students and pay them per job completed or agree of a per day rate. A small salon business requires at least KSh.50, 000 start-up capital while a barbershop will require at least KSh.30, 000.
Picture yourself getting monthly income from one of the most profitable and largest telecommunication firms in Kenya. M-Pesa attendants are paid a monthly income by Safaricom depending on the volume of transactions. To start the M-Pesa business, you will need at least KSh. 100, 000. However, you can start with an aggregated M-Pesa line with KSh. 30, 000 to KSh. 50, 000.
Selling Boiled Eggs and Sausages
You can start this business with very little capital and grow with time. You can start with a KSh. 2000 capital and sell eggs, samosas and sausages. Though this business requires very little capital, you will earn very high profits. For example, you can buy an egg for Ksh.10 and sell at Ksh.15-25. To beat your competitors, introduce Kachumbari (tomatoes, onions and pilipili) and get more customers.
Start a Daycare
Daycare business is one of the newest business in Kenya. Most working parents used to hire house girls to take care of their kids but this has changed overtime. The daycare option is safer and cheaper than the option of employing house girls.
Some college students are parents and sometimes get inconvenienced to attend classes due to their parenting roles. This has created a high demand for daycare services near colleges. Starting a daycare business near colleges and universities will help students attend classes normally and earn you an income. Depending on your location, you may need up to KSh.50, 000 to KSh.100, 000 as start-up capital.