Welcome to college. You’ll be here for four years, and when you aren’t in class you’ll have a lot of free time. Food, beverages and video games cost money, though – how will you pay for them? The answer is, of course, a job.
There are the typical college student jobs – working the residence hall office, working in the library, working checkout at a grocery store, delivering pizzas, etc. The problem with these tried and true jobs? They take up your time. And when you’re in college, time is of the essence. You need a social life, and working nights and weekends will not cut it. After all, these are the best years of your life. This is where a dorm room business comes into play.
If you have a favorite hobby or something you are really good at, why not go into business? Create your own hours, charge your own prices and be your own boss. Need customers? You have, quite possibly, 10,000+ students walking your campus daily. And if you get involved in something related to your major, it can only help you in your job hunt after graduation – that is, if you need a job by then. Who knows, maybe your dorm room business will have flourished into an extremely profitable company! You could join the likes of Bill Gates, Michael Dell, Sergey Brin and Larry Page as successful college entrepreneurs.
Take some money from savings, ask your parents for money or take a small part-time (10 hours/week max) job to get some start-up capital. Once your business becomes self sustaining, quit the part-time job and expand your work into those hours if you want. You can quickly pay back any money you borrowed and start taking a salary out of your profits. Remember, though, to put some money away in the name of your business – if you are building computers, for example, you might lose a tool and have to buy a new one.