In this article, we will take a look at the 15 dorm room business ideas for college students. If you want to skip our detailed analysis, you can go directly to 5 Dorm Room Business Ideas for College Students.
The Role of Social Media in Youth Entrepreneurship
Social media plays an important role in fueling entrepreneurship. Platforms like Instagram, Facebook, TikTok, Pinterest, and Linkedin serve as important tools for young entrepreneurs stepping into the business world. According to a report by The Washington Post, TikTok contributed $14.7 billion in small business owners’ revenue and $24.2 billion to the GDP of the United States in 2023. Moreover, TikTok also added more than 224,000 jobs in the United States, especially in California, Texas, Florida, New York, and Illinois. The addition of the TikTok shop has been a primary catalyst for young entrepreneurs enabling them to market and sell their products via the same platform. The platform is primarily used for advertising, contributing $5.3 billion in tax revenue to the US government. The merits of social media and technology are paramount to young students willing to become entrepreneurs. Given that acquiring large technologies is challenging for students, they often turn to social media platforms with supporting social commerce capabilities to run their businesses. The ban on TikTok may lead to more uncertainty in the entrepreneurship realm among young students. You can also take a look at the most innovative stocks to buy right now.
Companies That Help Students Scale Their Startups
Alphabet Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) offer a range of tools to entrepreneurs willing to scale their startups. You can also take a look at the highest paying part time jobs for college students.
Google for Startups is a product of Alphabet Inc. (NASDAQ:GOOG). It helps individuals connect with the right people, products, and best practices to help people grow their startups. Alphabet Inc. (NASDAQ:GOOG) raised $7.8 billion in funding since 2022 via Google for Startups and created over 200,000 jobs. Some key products by Google for Startups include Gemini, Vertex AI, Gemini for Workspace, Gemma, Firebase, and Google Analytics. These tools allow budding entrepreneurs to conduct A/B tests, analyze performance, innovate using artificial intelligence, and streamline operations. The company is also home to several programs including the Accelerators, the Startup School, and the Academies. The Accelerators program is targeted at a few select top growth stage startups to enjoy tailored training from experts at Google.
Microsoft for Startups Founder Hub is a product of Microsoft Corporation (NASDAQ:MSFT). The hub allows startups to access up to $150,000 in credits to use the latest generative artificial intelligence models including OpenAI GPT-4. Budding entrepreneurs may also benefit from Microsoft Azure, GitHub, Microsoft 365, and LinkedIn Premium to streamline operations. Microsoft Corporation (NASDAQ:MSFT) also provides expert advice via one-on-one meetings to startup owners.
Freelancing and Dropshipping May Be Some Key Domains to explore
Freelancing and dropshipping are highly attractive options for college students willing to set up their businesses and earn money. Upwork Inc. (NASDAQ:UPWK) and Shopify Inc. (NYSE:SHOP) are among the leading platforms for freelancing and dropshipping, respectively.
Upwork Inc. (NASDAQ:UPWK) is a leading freelancing platform that connects businesses with independent professionals and agencies from across the globe. College students can create a profile on Upwork Inc. (NASDAQ:UPWK) for free. Students must summarize their work experience and educational background to get started. The company also offers several tools for independent professionals. On November 6, Upwork Inc. (NASDAQ:UPWK) announced the launch of AI applications and educational resources for professionals. Professionals can gain access to the Adobe Creative Cloud tools and subscriptions, Adobe Generative AI tools, Amazon AI coding tools, the Amazon CodeWhisperer, a free trial for Miro’s business plans, and discounts on ClickUp to enhance productivity.
Shopify Inc. (NYSE:SHOP) is a leading e-commerce platform for people wanting to set up their online store. Shopify Inc. (NYSE:SHOP) allows individuals to launch a dropshipping business with a free trial. For the first month after the free trial, users only need to pay $1. The company empowers business owners to join webinars and benefit from the company’s collection of free business resources. Shopify allows individuals to test and compare results by selling different types of items and sourcing products from different suppliers. Other features by Shopify Inc. (NYSE:SHOP) include marketing tools, retention tools, social media integrations, email integrations, online payment functionalities, global selling, and deep customer analysis tools.
Now that we have discussed the dynamics of youth entrepreneurship, let’s discuss the 15 dorm room business ideas for college students. You can also read our piece on the best part time jobs for college students with no experience.
15 Dorm Room Business Ideas for College Students
Our Methodology
To gather a list of the top 15 dorm room business ideas for college students, we consulted over 10 rankings and reports on the internet. We picked the business ideas that appeared in 50% of our sources and then ranked them.
15 Dorm Room Business Ideas for College Students
15. Affiliate Marketing
CJ Affiliate, ClickBank, and ShareASale are among some of the few affiliate networks for marketers. Since the business is not very demanding, students can easily manage the opportunity along with their studies. To stand out, students may target a specific niche. Such will ensure that the student creates relevant and appealing content.
14. Study Abroad and Career Counselling
Many students in college wish to go for higher studies in a foreign land. However, some students lack the knowledge and information about the process and basic requirements. College students can not only create a YouTube channel explaining the process and basic requirements, but they can also curate written documents or guidebooks to sell.
13. Develop New Tech Products
College students can develop productivity applications to ensure they are making the most out of their academic lives. Other tech products college students can produce may include applications informing students of important events on campus and around town.
12. Set Up a Podcast
College students can start a podcast from the comfort of their dorm room. The podcast can be hosted on YouTube and marketed on social media depending on the target market. Podcasting is gaining traction and is a high-growth market. According to a report by Grand View Research, the global podcasting market was valued at $18.52 billion in 2022. The global podcasting market is expected to grow to $130.63 billion by 2030 from $23.75 billion in 2023 at a compound annual growth rate (CAGR) of 27.6%.
11. Selling Handmade Goods
College students can create a variety of handmade products including crocheted items, jewelry, and other decoration pieces. These items can then be sold on Etsy, Inc. (NASDAQ:ETSY) or through local channels for other students in the dorm room. Etsy, Inc. (NASDAQ:ETSY) charges a 6,5% transaction fee for every sale made. The fee is charged on the selling price of the listing plus the shipping and packaging costs charged to the customer. The handmade Natural Fabric Labels for Handmade Items is available for $12 and has been reviewed by more than 26,000 people.
10. Poster Design
College students love decorating their dorm rooms with abstract posters that define their personalities. College students can design posters and stickers, sell printed versions to local college students in dorms, and target a wider market by selling on Amazon.com, Inc. (NASDAQ:AMZN). College students can also take up poster designing projects on Upwork and earn somewhere between $15 and $30 per hour. The Americanflat poster with a Black Frame is available for $16.99 on Amazon. More than 5,000 items of the product were sold in February.
9. Fitness Training
College students can set up an online channel for fitness training or live fitness training sessions for fellow students. The virtual fitness market is growing rapidly. According to a report by Grand View Research, the global virtual fitness market was valued at $16.4 billion in 2022. The global virtual fitness market is expected to grow to $106.4 billion by 2030 from $20.3 billion in 2023 at a compound annual growth rate (CAGR) of 26.72%.
8. Dorm Cleaning/Laundry Services
College students can engage in the provision of dorm cleaning and laundry services. Students can set up a small channel where other dorm students can request when they want to have their room cleaned or laundry done. While developing an application would be expensive in the beginning, an elaborate system can be set up once the service is known.
7. Sell Student Resources
Students are usually in need of well-made class notes and online reading material. College students can create guidebooks and notes from the comfort of their dorm room and then sell them to other students. College students can also create a learning management system to upload all the resources on a single platform.
6. Delivery Services
College students can start a delivery business from their dorm room. Dorm students are always in need of basic necessities or food from the dining hall. College students can take orders from dorm students and then deliver food to their rooms accordingly. While this can be done informally, it is sustainable to set up a proper business.
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Disclosure: None. 15 Dorm Room Business Ideas for College Students is originally published on Insider Monkey.