student business plans

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The Best 36 Business Ideas for Students on a Budget 2024

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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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LivePlan's examples of actual business plans show students how they can identify opportunities, meet challenges, and plan their path to profits. Just like real-world entrepreneurs.

No spreadsheets necessary

With all–in–one spreadsheet–free forecasting and pitching tools–students can use LivePlan to build a realistic business plan with accurate projections and compelling pitches. Analyze scenarios. Track progress. Set goals. All in LivePlan.

Works seamlessly with your classroom setup

With LivePlan you can simplify syllabus creation. LivePlan can also be used alongside classroom tools such as Blackboard and Canvas. LivePlan's optional instructional resources can enhance your syllabus with materials that introduce lean planning principles, growth metrics, financial forecasting, and more.

Instructors looking for a great tool to help students develop business plans need to look at Live Plan. The step–by–step process walks students through the entire process from Pitch to Financials. As the Instructor you can also have online access to their plan and provide feedback and comments as the plan develops.

Mike Allen Business Instructor, North Idaho College, Coeur d'Alene, ID

Bring out the best in every student

LivePlan's business plan examples help students turn ideas into top–notch business plans for class projects and startups. The tools, features, and instructional content allow you to focus on bringing out the best in your students for every plan and project.

Before using LivePlan, my students were intimidated by the business planning process. LivePlan breaks it down into manageable steps and takes the mystery out of developing a business plan.

Amy Schulz NACCE Vice President of Education, Membership and Associate Faculty, Feather River College, Quincy, CA

I used LivePlan to develop a business plan for a class project. Turns out, the project became part of a business plan competition where I placed second out of over 200 entries.

Sheila Austin Student

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

DECAVERSITY

10 business plan examples for students.

Are you thinking of starting a business? Let’s take a look at some business plan examples for students. 

Starting a business as a student is exciting. But, like anyone else, students need support when venturing into entrepreneurship. One of the most important things to start with is learning how to create a strong business plan.

A business plan helps you set clear goals, strategies, and the necessary steps to succeed in the business world. However, not all business plans are the same. There are different types to consider, and choosing the right one depends on your specific business and goals.

In this guide, we'll walk you through the process of creating a solid business plan and introduce you to different plan types. So, let's get started and explore the world of entrepreneurship with a well-structured plan for success.

Writing the Business Plan

Crafting a business plan is a crucial move when you're starting or expanding your business, whether you’re working on a business plan project for students or a fully-fledged business person. 

It helps you navigate your journey while also catching the attention of potential investors or lenders. In this guide, we'll break down every part of a business plan and share helpful tips.

What Goes in a Business Plan?

A good business plan typically has several important sections, each with its own job to do.

• Business Overview : Introduction and executive summary.
• Market Analysis : Understanding your target market and competition.
• Marketing and Sales : Strategies to reach and convert customers.
• Product/Service : Description of what you offer.
• Operations and Team : How your business operates and key team members.
• Financial Projection s: Future financial estimates and funding needs.
• Appendix : Supporting documents, if needed.

Now, let’s get into what these sections look like. 

Develop a Business Plan Worksheet

Before you start writing your business plan, it's a good idea to start with a business plan worksheet. Think of it as the foundation for your plan—a tool to gather information and get your thoughts organized. 

This worksheet will help you come up with your business vision, understand your target market better, and lay out your financial projections. It's the first step to building a solid plan that sets your business on the right track.

The Executive Summary

The executive summary is your business plan's attention-grabbing headline. It's a concise preview of your plan's most critical elements, designed to engage your reader. Here's what to include:

• Mission Statement : Clearly state your business's mission, describing the problem you solve and why your business exists. Define your core values and goals.
• Product/Service Description : Provide a brief, compelling description of your offering, emphasizing its unique features or benefits that set it apart.
• Leadership and Team : Introduce key team members and their qualifications, showcasing their expertise and their role in your business's success.
• Financial Information : Give an overview of your current financial status. Mention revenue and profits if your business is running. If you seek financing, explain how much you need and where you'll invest it.
• Growth Plans : Share your strategy for growth and long-term goals, outlining how you'll expand and achieve profitability.

The executive summary sets the stage for your business plan, making a strong first impression and sparking excitement for what follows.

The Products/Services 

In this part, we'll dig deeper into the heart of your business—your products or services. We're going beyond the basics to look at three crucial aspects:

• Benefits to Customers : Discuss how your products or services help your customers. Explain how they solve specific problems or fulfill the needs of your target market. What makes them stand out? What's the unique value they bring compared to what competitors offer?
• Product Lifecycle : Every product or service has a journey. Tell us about the expected lifecycle of yours. Are you planning updates, new versions, or related offerings in the future? Knowing this helps us understand how your business will evolve.
• Intellectual Property : If it applies to your products or services, include any intellectual property rights you have. This might include copyrights, trademarks, or patents. These rights protect your creations and can be valuable assets.

Remember, this section is all about offering the essence of what you're offering and why it's special.

Target Market

Knowing your target market is a cornerstone of business success. Let's simplify:

Who Are Your Customers?

• Demographics : Basic info like age, gender, income, and location helps you target effectively.

What Makes Them Tick?

• Psychographics : Understand their interests, lifestyle, and buying habits to connect personally and tailor your marketing.

Market Trends

• Stay Updated : Keep an eye on industry trends and market shifts. Adapt to capitalize on opportunities.

Why does it matter? Think of it like knowing the weather—it helps you plan. Understanding your target market is your key to getting ahead. 

The Marketing Strategy

Your marketing and sales strategies are crucial for attracting and retaining customers.

Marketing Mix

Here, we'll break down each element of your marketing mix—product, price, promotion, and place (distribution). 

• Product : Describe your product offerings in detail. What are their unique features and benefits? Why would your target customers choose your products over others in the market? Be clear about what sets you apart.
• Price : Explain your pricing strategy. Will you compete on price, offering lower costs than competitors? Or will you position your products as premium and charge a higher price? Detail any discounts, bundles, or special offers you plan to implement.
• Promotion : Outline your promotional tactics. How will you create awareness and interest in your products? This can include advertising, public relations, content marketing, social media campaigns, and more. Specify your marketing budget and the platforms you'll utilize.
• Place (Distribution) : Describe your distribution strategy. How will your products reach your customers? Will you sell directly to consumers, through retailers, or online? Highlight your distribution channels and logistics. Explain how you'll ensure your products are readily available where your customers want them.

Sales Process

Now it’s time to discuss how you plan to turn potential leads into paying customers.

• Direct Sales : If your strategy involves direct sales, explain how your sales team will engage with potential customers. Provide insights into your sales force, their training, and how they will approach prospects.
• Online Sales : If online sales are a significant part of your strategy, detail your e-commerce platform. Discuss the user experience, payment processing, security measures, and any online marketing tactics to drive traffic and conversions.
• Conversion Strategy : Highlight how you plan to convert leads into paying customers. Will you offer free trials, consultations, or samples? Describe your approach to closing deals and fostering customer loyalty.

By going beyond the surface and addressing these elements in detail, you'll have a marketing and sales strategy that can effectively attract and retain customers for your business.

Discuss Your Distribution Strategy

Your distribution strategy is how you get your products or services to your customers effectively:

• Distribution Channels : These are the paths your products or services take, like physical stores or online platforms.
• Logistics and Transportation : This is how your products move, whether you do it yourself or use other companies.
• Inventory Management : It's about keeping the right amount of stock without having too much or too little.
• Geographic Reach : It's where your customers are, whether nearby, across the country, or worldwide.
• Efficiency and Costs : It's about being fast and not spending too much money.
• Customer Convenience : It means making it easy for customers to buy from you.
• Technology and Automation : Using tools and systems to make things work smoother.
• Scaling and Adaptation : It's about being ready for more customers or changes in the market.

Having a good distribution strategy helps make sure your products or services reach the right customers the right way.

The Competition

It's essential to have a solid grasp of your competitors and strategically position your business to thrive. 

Competitive Analysis

To stay ahead of the game, make sure to conduct a thorough competitive analysis. This means rolling up your sleeves and diving deep into the strategies and operations of your rivals. 

• In-Depth Examination : Start by examining your competitors meticulously. Look into their products or services, pricing strategies, marketing tactics, and customer base. The goal is to gain a comprehensive understanding of what they do and how they do it.
• Strengths and Weaknesses : Highlight your competitors' strengths and weaknesses. What are they exceptionally good at, and where do they fall short? Identifying these aspects will help them identify opportunities to capitalize on their weaknesses and leverage their strengths.
• Success Insights : Share your insights into what makes your competitors successful. Understand their unique selling propositions, customer engagement strategies, and market positioning. This knowledge will provide you with a foundation for your own strategies.
• Outperforming Plans : Once you've dissected your competitors, outline your plan to outperform them. Whether it's through innovation, superior customer service, or better pricing, make it clear how you intend to gain a competitive edge.

Competitive Advantage

Every business has something that sets it apart from the rest – these are your competitive advantages. In this section, it's time to highlight why customers should choose you over the competition.

• Expert Team : If you have experts on your team, let people know. Customers trust businesses with knowledgeable professionals who offer excellent products or services. If you're new, focus on any relevant experience to build trust as your business grows.
• Unique Partnerships : If your business has forged unique partnerships or collaborations that give you an edge, make it known. These alliances can lead to exclusive offerings, cost advantages, or increased visibility in the market.
• Ideal Location : If your business benefits from an ideal location that attracts foot traffic or serves a specific target demographic, this can be a powerful competitive advantage. Explain how your location enhances your business prospects.

By underlining your competitive advantages, you're essentially telling your audience why you're not just another player in the market. 

The operations section is your day-to-day business plan. It helps your team understand how to make your business run smoothly. Here are the key parts:

• Objectives and Goals : State what you want to achieve, both short and long-term. Ensure they align with your overall plan.
• Procedures and Processes : Explain how things will get done, from making your product to customer service.
• Timeline and Milestones : Set dates and goals to track your progress.
• Resource Needs : List what you need to run your business, like equipment and people.
• Supply Chain : Describe how you'll get what you need and manage it.
• Quality Control : Detail how you'll ensure quality, whether through checks or testing.
• Regulations : Mention any rules you need to follow, like permits or licenses.
• Risk Planning : Identify potential problems and your backup plans.
• Growth Strategy : Explain how you'll handle growth, like hiring more people or expanding to new markets.
• Costs : Break down your expenses, both fixed and variable, and how you'll manage them.

By laying out these details, you'll be well-prepared to handle the challenges and growth opportunities that come your way.

The Management Team

In this section of your business plan, you'll want to cover a few key areas:

1. Personal Background : Start by introducing the key people in your management team, if there are any. If it’s just you—don't worry! Give some basic details like names, ages, where they live, their interests, and their educational background. Also, mention any special skills they bring to the table.

2. Business Experience : Talk about their history in the business world. Have they been involved in other businesses? Have they held important positions before? Share their past achievements and roles in previous companies.

3. Track Record : Highlight their successes, the responsibilities they've handled, and their capabilities. Show how their previous experiences have prepared them for the roles they'll play in your business.

4. Education : Mention their formal and informal education, like degrees, certifications, or courses they've taken that are relevant to your business.

5. Financial Standing : Include personal financial statements and supporting documents to demonstrate their financial stability and ability to contribute to the business if necessary.

6. Work History : Detail their direct experience in similar businesses and how it aligns with your current venture.

7. Roles and Responsibilities : Clearly define who does what on the management team. Explain why they're the right fit for their roles and who makes the final decisions.

8. Organization Chart : Create a simple chart that shows how your team is structured and lists each person's responsibilities.

9. Compensation and Benefits : Outline the pay and bonuses each management member will receive. Also, mention any benefits like health insurance or life insurance.

10. External Resources : Tell about any outside resources you can tap into, like lawyers, accountants, or support from organizations that help small businesses.

11. Board of Directors : If you have a board, introduce them and explain how they'll help guide your business.

12. Online Resources : Mention any useful internet resources you'll use for research and networking.

Including these details paints a picture of your team's qualifications and their role in making your business a success.

In this part of your business plan, focus on who will be working with you.

• Current and Future Needs : Start by saying how many people you have on your team right now, if any. Then, talk about how many team members you think you'll need in the near future (like the next year or two) and in the longer term (three to five years from now).
• Skills Required : Describe what skills your team members should have. Think about what makes them good at their jobs and what special skills might be needed for your business.
• Job Descriptions : Explain what each person on your team will be responsible for. This will help everyone better understand their roles. Keep in mind that your roles might change as your business grows.
• Finding People : Discuss how you plan to find and hire the right people. As students, you might use your school's resources and online job platforms or work with other students who have the skills you need.
• Pay and Benefits : Clarify if you'll be paying salaries, hourly wages, or both. You can also mention any extra rewards or bonuses based on performance. Since you're a student, you may not offer extensive benefits initially.
• Extras like Overtime : Say if you'll pay extra for overtime work and when that might happen. Being students, you'll want to manage your workload efficiently, especially during busy times.

By covering these points, you'll show that you've considered your team's needs and are ready to manage your business's human resources effectively, even as students.

Financial Analysis

Think of this section as the pulse of your business plan. It gives you a detailed look at your business's financial health and sustainability. This part is crucial for students because it helps them make informed decisions and attracts potential investors or lenders.

Balance Sheet

Get a certified public accountant (CPA) to help you create a balance sheet. This document paints a picture of your business's financial situation at a specific moment. It has three main parts:

• Assets : What your business owns ( cash, equipment, or inventory).
• Liabilities : What your business owes (such as loans or outstanding bills).
• Owner's Equity : The owner's stake in the business, which is assets minus liabilities. It's basically your business's net worth.

Break-Even Analysis

This is significant because it tells you when your business will start making money. It determines the minimum amount of sales revenue needed to cover both fixed costs (like rent and salaries) and variable costs (like materials and utilities). It's based on info from the income statement and cash flow projections.

Income Statement (Profit and Loss Statement)

The income statement gives you the lowdown on your business's financial performance over a specific time frame, usually monthly or annually. It shows how much money you made and how much you spent. Subtract the expenses from the income, and you've got your profit or loss. It's all about how well your business handles its cash.

Cash Flow Statement

Cash is king in business, and this statement forecasts how money will move in and out of your company. It predicts all cash coming in and going out, helping you ensure you have enough to cover day-to-day costs and investments and pay off any debts. A strong cash flow is crucial to keeping your business going.

As student entrepreneurs, having a CPA set up your accounting system is a smart move for accuracy. When you present these financial documents in your business plan, make sure they're clear and detailed. 

These numbers prove the worth and profitability of your business idea, which can be a big draw for potential investors or lenders. So, be thorough and get the figures right. 

Supporting Documentation 

You'll also want to include various documents that back up the information you've presented in the main part of your plan. Keep in mind that this list might change depending on how far along your business is. Here's what to include:

• Resumes : Put in resumes of the people who are key to your business. Show off their qualifications and experience to give confidence to potential investors or lenders.
• Credit Information (appendix) : If relevant, add credit reports for yourself or your team members. This will prove that you're financially responsible.
• Quotes or Estimates : Include any quotes or cost estimates you've received from suppliers or service providers. This helps prove that you've done your homework on expenses.
• Letters of Intent from Prospective Customers : If you have letters from potential customers saying they want to use your products or services, toss those in. It shows there's a demand.
• Letters of Support from Credible References : If you have supportive letters from mentors, professors, or industry experts, add those. They can vouch for your idea.
• Leases or Buy/Sell Agreements : If you're renting space or buying equipment, include the agreements. It proves you have the physical assets and responsibilities in place.
• Legal Documents Relevant to the Business : If there are any legal papers like incorporation documents, partnership agreements, or licenses, include them. It shows you're following the rules.
• Census/Demographic Data : If your business relies on specific data about people, include statistics or reports from trustworthy sources. This information will support your market analysis and target audience information.

Remember to keep these documents well-organized in the appendix. This list covers the basics, but tailor it to your specific student business plan's needs and stage of development.

Business Plan Program

Creating a strong business plan is essential for any entrepreneur, and with the help of business plan programs and tools, you can make it more effective.

• LivePlan : LivePlan is a user-friendly business planning software that guides users through creating business plans and offers financial forecasting.
• Bizplan : Bizplan focuses on startups and small businesses, providing step-by-step planning, financial tools, and pitch deck creation.
• Enloop : Enloop automates business plan writing using data inputs and offers financial projection tools.
• PlanGuru : PlanGuru is for in-depth financial analysis and creating detailed financial projections.
• Upmetrics : Upmetrics offers customizable templates, financial forecasting, and collaboration features for various business stages.
• Tarkenton GoSmallBiz : Tarkenton GoSmallBiz provides business planning tools, legal resources, and marketing guidance.
• Bplans : Bplans offers free business plan templates and samples for those starting from scratch.
• Canva : Canva provides pitch deck templates and design tools to enhance presentations.
• QuickBooks : QuickBooks aids in financial tracking and management, complementing business planning.

14 Types of Business Plans with Examples

In this section, we'll explore 10 types of business plan examples for student entrepreneurship.

1. Traditional Business Plans

These classic business plans , often prepared on paper, provide a comprehensive overview of the business, detailing its identity, goals, and strategies for success.

2. Standard Plans

Similar to traditional plans, standard business plans are created digitally, typically using software like Microsoft Word or Excel, making them easier to edit and share.

3. One-Page Business Plans

Incredibly concise, these plans condense all crucial information onto a single page, often using bullet points for clarity and brevity.

4. Annual Business Plans

Tailored for a specific year, these plans outline a business's objectives and actions for that particular period, providing a focused strategy. 

5. Lean Plans

Lean business plans are streamlined versions, intentionally omitting some details to protect confidential information while offering a concise yet informative summary.

6. Business Plans for Start-ups

Specifically designed for new ventures, these plans may incorporate surveys, customer insights, and visual aids to support their customized approach.

7. Feasibility Studies

These plans investigate the viability of new product or service ideas, helping businesses make informed decisions about their implementation by analyzing their potential success.

Understanding these various types of business plans is essential for your business management studies, as they serve different purposes and contexts within the business world.

8. Strategic Plans

Concentrating on marketing and branding strategies, these plans often involve extensive market research and prioritize effective brand promotion.

9. Operational Plans

Emphasizing practical steps, operational plans use data, charts, and graphs to guide a business's actions toward its goals, with a strong focus on execution.

10. Internal Plans

Highly detailed and meant exclusively for the company's internal team, these plans contain sensitive information and strategic insights for team members' use.

11. What-If plan

This type of plan explores various scenarios and their potential impact on the business. It helps a company prepare for unexpected situations by outlining strategies for different outcomes.

12. Expansion plan

An expansion plan outlines strategies for growing a business, whether through opening new locations, entering new markets, or diversifying product lines. It details the steps and resources needed for expansion.

14. Business Acquisition Plan

When a company intends to acquire another business, this plan outlines the acquisition strategy, financial considerations, and integration plans. It helps ensure a smooth transition and maximizes the value of the acquisition.

These plans cover a range of scenarios and goals, each serving a unique purpose in the world of business strategy. Hopefully, you can choose a business plan template for high school students that suits your needs. 

Final Thoughts

Starting and running a business as a student is a journey. A well-structured business plan is essential for success, helping you define your goals and strategies. To create one, feel free to use these business plan examples for students as a source of inspiration.

It’s your tool to guide your entrepreneurial journey and increase your chances of success. So, get started, create your plan, and get started on your path to entrepreneurship with confidence.

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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

🥪 Success Story: How a Vegan "Meat" Brand Launched at a Farmer's Market

Brother and sister team Kale and Aubry Walch tested their recipes at a local market before building their own plant-based deli. 👉 Read their story

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.

👩🏾‍🦱 Success Story: An Art Major Developed a Product to Fill a Market Gap

Yelitsa Jean-Charles was dissatisfied by the options for dolls with Black hair. So she designed her own. She built her successful business, Healthy Roots Dolls, to teach a generation to love their curls. 👉 Read Yelitsa’s story

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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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

Craft business ideas

Beauty business ideas

Reselling business ideas

DIY business ideas

Clothing business ideas

Small-town business ideas

Business ideas for couples

Rental business ideas

Family business ideas

B2B business ideas

Scalable business ideas

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10 Business Plan Examples for Students (2024)

Written by   Peter Keszegh

Starting a business isn’t just for the established entrepreneurs. If you’re a student with a great business idea, or if you’re just looking to earn extra money on the side, you can set up your own business with the right steps and preparation, too!

In this article, we’ll list some business plan examples for students and how you can turn your business ideas into reality.

What is a business plan?

In simple terms, a business plan is a detailed document that explains everything you need to know about your business idea. It includes your goals for your business and how exactly you plan to achieve them.

A business plan should be able to explain why your product or service is valuable, your target market for your business, and your future plans for the business.

Having a well-written business plan is important, especially if you’re looking at seeking external funding from investors. Even if you’re planning to use personal funds for your business, the business plan will help outline all your operational and management strategies.

Tailoring your plan to your business

While business plans have some standard sections used by all industries, it’s best to tailor your business plan depending on what your market is. For instance, if you’re planning to sell food products, you need to write sections on sourcing ingredients and quality control.

Think about what’s special about your business, and make sure to incorporate that in your business plan. Put yourselves in the shoes of an external investor – what would they want to know about your business? Don’t be afraid to think outside the box, too.

Parts of a business plan

You might be wondering – how should we structure a business plan? Here are some key sections you might want to include when writing your business plan:

Executive summary

An executive summary is exactly that – a summary of what your business is all about and your goals for the future. Make sure to include what your product or service plans to do, your target market, and key milestones you’d like to achieve. If you have plans to source external funding, mention this here, too.

Company description

You can use this section to expound on what you plan to achieve and what your business vision is . Use this section to highlight what makes your business unique , and why your product or service offers an innovative solution.

Market analysis

If you’re looking to start a business, you need to have a good understanding of the market and who your competitors are. Do the research to make sure there’s a real need for your product or service , and make sure you know what sets your business apart from competitors.

Organizational structure

If you’re working with a team and you all have different responsibilities, make sure to put that into writing. This doesn’t have to be too formal – all you have to do is make sure everyone’s tasks are clearly delineated so there’s no overstepping.

Product line or services offered

Talk about what you plan to sell or offer as a business. What exactly does your product or service do? What makes it so special, and what can your product or service do that isn’t already offered by your competitors?

Marketing and sales strategies

How do you plan to promote your business to attract customers and secure sales ? You can talk about where you plan to sell your products or offer your services, and how you plan to advertise your business.

Financial projections and funding requests

Set financial goals for your business and identify when your business will likely break even . If you need to secure external funding, make sure to mention this here, and mention how much money you’ll be needing and how you’ll be spending it.

Relevant documents that you mentioned earlier in your business plan should be included here. For instance, if you conducted market research via a survey, put your survey data here.

Of course, don’t be limited by the sections listed here. If there are other relevant details you’d like to talk about in your business plan, don’t be afraid to explore them. For instance, if you’re looking at using new technologies and tools for your product or service, you can write a relevant section in your business plan as well.

Why students need to master business plans

Businesses aren’t just for more seasoned entrepreneurs – starting a business can prove to be useful for students who want to hone their skills and become more business-minded.

Here’s how business plans can help students:

Enhancing strategic decision-making

You’ll have to make a lot of decisions when running a business, and business plans will force you to make smarter decisions. You don’t want to make things unnecessarily difficult for you and your team only to get mediocre results – you want to make sure you make the most out of your resources!

This kind of strategic decision-making isn’t something you learn in the classroom. Hands-on business experience will be useful for you to make wise decisions, even if it means learning from mistakes.

Improving market research and analysis skills

As students, you already do a lot of research for different school projects. When setting up a business, you’ll have to do research of your own to get a better understanding of the market your business plans to work in.

Having a good understanding of the market will also improve your analysis skills. For instance, doing enough research on the retail industry will give you a better idea of who the average retail customer is, allowing you to tweak your marketing and sales strategies to capture that target market.

Honing financial literacy and forecasting

Discussions about money and numbers can get pretty confusing. When you’re setting up a business and dealing with real, tangible figures, you’ll gain a better understanding of how finances work, how profitable your business might be, and what you’ll likely be spending money on.

Business plan examples for students

If you need a little help in thinking about the kind of business you want to set up, here are 10 business plan examples for students that you can use as inspiration:

Tu toring services

Some students will understand subjects better than others, which means there are a number of students who’ll need a little bit of help when it comes to their academic requirements and upcoming exams.

If you’re academically gifted and have a talent for teaching, you might want to consider offering tutoring services in your school.

• Executive summary : Mission, services offered, and target client demographic.
• Business description: Subjects covered, and technologies used (if applicable).
• Services provided: Individual tutoring, group workshops, and ongoing support options.
• Market analysis: Demographic trends, existing offerings, and unmet needs.
• Marketing strategy: Flyers, community center partnerships, and word-of-mouth referral programs .
• Operational plan: Scheduling system, session formats (in-person, online), and materials preparation.
• Management and organization: Tutor recruitment, training programs, and operational leadership.
• Financial summary: Basic costs, session pricing, financial goals, and sustainability plan.

Campus delivery service business

Especially during finals weeks, students can get pretty busy and can often forget to take care of themselves. How many all-nighters have you pulled as a student, and how many times have you skipped a meal to work on a deadline?

If this sounds like the kind of culture in your university, you might want to consider setting up a campus delivery service to cater to busy students. Here’s how you can set up your business plan:

• Executive summary: Service overview, mission, and objectives.
• Company description: Origins, campus focus, and service differentiation.
• Service offering: Types of delivery services offered (e.g., food, groceries).
• Market analysis: Campus demographics, needs assessment, and competitor analysis.
• Marketing strategy: Promotional tactics targeting students and staff, partnerships with local businesses.
• Operations plan: Delivery logistics, technology use (e.g., apps, GPS tracking), and hours of operation.
• Management and organization: Team roles, volunteer vs. paid staff, and management hierarchy.
• Financial plan: Start-up costs, pricing strategy, revenue projections, and break-even analysis.

Campus fitness and wellness programs

Another way you can help students in your school become healthier is to offer services that focus on fitness and wellness . If there’s a need for students in your school to become more physically active or to just take better care of their overall wellness, you could offer relevant programs on campus.

• Executive summary: Concept, target audience, and objectives of the fitness programs.
• Business description: Range of services (classes, personal training, wellness workshops).
• Market analysis: Campus health trends, competitor offerings, and student wellness needs.
• Services: Detailed look at program offerings, schedules, and customization options.
• Marketing plan: Engagement strategies, campus events, and partnership with student health services.
• Operational plan: Instructor qualifications, equipment needs, and location logistics.
• Management and organization: Structure of the team, roles, and experience in health and wellness.
• Financial overview: Initial setup costs, pricing strategy, revenue streams, and financial projections.

Student freelance platform

Freelancing is a popular way for students to earn extra income on the side, in the middle of their busy class schedules. If you have enough know-how when it comes to setting up websites or apps, you might want to consider launching a portal where student freelancers can conveniently find more freelance gigs.

• Executive summary: Platform purpose, target market, and value proposition.
• Business description: Niche focus (e.g., design, tutoring, programming), platform features.
• Market analysis: Demand for freelance work among students, analysis of existing platforms, gap identification.
• Service description: User interface, service categories, payment processing system.
• Marketing and sales strategy: Campus outreach, online presence, and user acquisition strategies.
• Technology plan: Website architecture, user security measures, and scalability.
• Operations plan: Customer support, dispute resolution process, and freelancer vetting process.
• Financial summary: Funding requirements, monetization strategy, and financial forecasts.

Mobile app for campus services and networking business

Maybe you’ve got an enormous campus that boasts a lot of helpful activities and services that most students might not already be aware of. If you want to promote these services in an innovative way, you could think about setting up a mobile app that students can use as a one-stop-shop for all their campus service needs.

• Executive summary: Introduction to the app, its core functionalities, and target user base.
• Business description: Insight into how the app facilitates campus life, services offered, and networking features.
• Market analysis: Current apps in the market, student needs analysis, and potential for growth.
• Product description: Detailed functionalities, user interface design, and privacy features.
• Marketing plan: Strategies for app launch, user acquisition, and partnerships with university departments.
• Technology plan: Development roadmap, platform compatibility, and maintenance plan.
• Management and operations: Team structure, developer roles, and operational milestones.
• Financial projections: Budget for app development, marketing costs, monetization strategies, and revenue forecasts.

Eco-friendly apparel brand

Everyone’s becoming more eco-conscious nowadays, and brands who often highlight their environmentally-friendly practices do get a good reputation. If you want to tap into that market and mix it with a bit of fashion design, you can choose to set up an eco-friendly apparel business.

• Executive summary: Brand mission, product range, and sustainability goals.
• Company background: Inspiration behind the brand, target demographic, and brand story.
• Products and services: Description of apparel line, materials used, and production process.
• Market analysis: Trends in sustainable fashion, target market behavior, and competitive landscape.
• Marketing strategy: Branding, social media campaigns, and collaborations with eco-conscious influencers.
• Operational plan: Supply chain management, ethical sourcing, and online versus physical sales approach.
• Management team: Roles, responsibilities, and background of team members.
• Financial plan: Initial investment, cost structure, sales forecast, and profitability analysis.

Sustainable campus living products

Maybe you’re not too keen on selling apparel, but you’d still like to tap into the market of students who prioritize sustainable brands and products. 

If you also share the same passion for sustainability and have ideas on how to cater to students’ needs, you might want to consider selling sustainable products instead that dormers and other students will find useful for everyday life.

• Executive summary: Mission statement, product line overview, and sustainability goals.
• Company overview: Background on the inspiration for eco-friendly products targeted at students.
• Market analysis: Trends in sustainability, potential campus markets, and niche opportunities.
• Products offered: Description of eco-friendly living products (reusable containers, biodegradable goods).
• Marketing and sales strategy: Campus-based initiatives, eco-friendly partnerships, and social media.
• Operations: Sourcing of materials, product manufacturing, and logistics.
• Management team: Founder’s background, operational management, and advisory board.
• Financial projections: Cost analysis, sales forecast, funding requirements, and profitability timeline.

Student event planning service

A big part of student life is all about events and getting to meet new people. Not only is event planning a big thing for official student organizations, it’s also helpful for smaller communities who want to organize events to meet like-minded people.

If events are a popular thing in your school, you might benefit from setting up a student event planning service.

• Executive summary: Overview of services, unique selling points, and business goals.
• Company description: Types of events covered (e.g., academic, social, sporting).
• Service offering: Full event planning, day-of coordination, and consultation services.
• Market analysis: Campus event culture, demand for event planning services, competitor overview.
• Marketing plan: Outreach strategies, partnerships with campus organizations, and promotional materials.
• Operational strategy: Event logistics, vendor relationships, and event execution checklist.
• Management structure: Leadership team, volunteer opportunities, and staffing needs.
• Financial projections: Pricing model, expected expenses, revenue estimates, and growth potential.

Campus event photography service

Every big event needs good documentation to go with it. Even if your school isn’t big on events, you can choose to offer photography services to groups of friends who want cute little photoshoots in the most Instagrammable parts of your campus.

If you have a knack for photography, here’s how you can start offering photography services on campus:

• Executive summary: Concept and goals for providing photography services for campus events and personal photoshoots.
• Company description: Insights into the types of events covered (e.g., graduations, parties, portraits).
• Services offered: Packages available, including event coverage, individual portraits, and group sessions.
• Market analysis: Demand for photography services on campus, existing offerings, and unique selling points.
• Marketing strategy: Portfolio development, social media presence, partnerships with event organizers.
• Operational plan: Booking process, event execution, post-processing, and delivery of images.
• Management team: Background of the photographer(s), roles in business management, marketing, and customer service.
• Financial plan: Pricing strategy, cost of equipment and travel, revenue projections, and growth potential.

Student art gallery and workshop space

Maybe you’re from an art school, or your campus boasts a rich and talented artistic community. If your school’s artists are looking for a space to display their art, setting up a gallery and workshop space might be a profitable and sustainable business opportunity.

• Executive summary: Vision, goals, and unique aspects of the art gallery and workshop space.
• Company overview: Concept behind promoting student art, workshop themes, and community benefits.
• Market analysis: Interest in local art, campus cultural activities, and potential for art sales.
• Services and products: Exhibition schedules, workshop offerings, and art sales.
• Marketing strategy: Promotions through campus channels, local art scenes, and social media.
• Operations: Gallery setup, workshop logistics, and artist collaboration processes.
• Management team: Backgrounds in art management, curation, and education.
• Financials: Start-up expenses, pricing for art and workshops, expected revenue, and growth potential.

Common mistakes to avoid for student businesses

Setting up a business is no walk in the park, especially for young and inexperienced students. Here are some common mistakes that you can avoid when planning your own business, so you can steer clear of bigger problems down the road:

Lack of a well-defined business plan

It should go without saying that insufficient planning will make it difficult to get your business off the ground. Make sure you put down all important details in writing , and consult experts and get insights from successful small businesses if you need to.

Underestimating the importance of market research

You’ll need more than just a cool idea to start a business. There needs to be a real need or demand for your product or service, and if there’s another business already offering the same thing, you need to make sure your product or service is different or unique.

Familiarize yourself with the existing market and what the market gaps are. Once you identify what that market needs, you can tailor your business plans to try to fill in that gap.

Overlooking legal and financial regulations

Being a student doesn’t exempt you from following standard business regulations. Double check with experts and do extra research to make sure your business complies with all necessary regulations. For instance, you may need to officially register your business, or secure necessary permits.

Inadequate financial planning and management

Your business needs to be on financially stable ground for it to stay sustainable. Make sure you know if you’re in good financial standing to launch your business , and make sure you aren’t spending more than what you can actually afford.

Ignoring the importance of a strong team

It’s tempting to do everything yourself, especially if you lack funds or the ability to delegate tasks. However, you might benefit from having a team of members with various skills. A strong team will bring in more ideas to the table , and will be helpful in managing heavy workloads.

Overlooking customer feedback

You need to listen to what your customers are saying to adapt to their needs and wants. Are your products too expensive? Are people looking for different colors of your products? Engage with your customers so they can let you know how you can improve your business.

Neglecting online marketing

Social media is everything in today’s digital age! You’ll be able to reach a wider audience if you set up social media accounts on different platforms to advertise your services or products.

Future steps for student business owners

So you’ve made your business plan – congratulations! But where do you go from here?

If you want to know whether or not your business is taking off and what future opportunities you can secure, here are some ideas:

Evaluating business performance

Regularly review how well your business is performing by checking product sales, total profits, and how wide your customer base is. If you’ve been earning a good amount of money and are selling popular products or services, that’s a great sign!

Make sure to listen to customer feedback , too, as your customers might give you helpful insights that you might not immediately be aware of. You can do this via informal chats with your customers, or via more formal means like customer surveys.

Exploring growth strategies

Once you’ve evaluated how well your business is performing, you might want to consider growing your business if there’s a demand for a product or service you aren’t already offering, or if there’s an adjacent market you can tap into.

For instance, if you’re offering tutoring services for basic algebra classes, you might want to offer sessions for more complicated math subjects if your tutees need them. If you’ve set up an art space that can also be used as a venue for student events, you can consider expanding your offerings.

Scaling the business

Maybe your business has really taken off and has hit a point that you can no longer meet the customer demand with your tiny team. If that’s the case, you might want to consider scaling.

You can scale your business by adding more people to your team , or ramping up your production efforts.

Building a brand

Don’t be afraid to make a name for yourself! Explore how you can create a brand for your business. This is where you can let your creative juices flow – do you want to appear like a sophisticated and professional brand, or are you going for a more quirky approach?

Takeaways for business plan examples for students

The opportunities are endless if you want to set up a business as a student. Let your imagination run wild and look through business plan examples for students if you want to start selling or offering something new to your school’s community.

Don’t be intimidated by your lack of expertise or resources just yet – with the right mindset and enough determination, you’ll be able to set up your business for success and start your journey as a solid business owner!

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46 Best Startup Ideas for Students

• Startup Ideas
• Best Startup Ideas
• Student Entrepreneurs

Last Updated: January 12, 2024 By TRUiC Team

Whether you’re in high school, community college, or university, it can prove challenging to juggle a 9-to-5 job while finishing school. Launching your own startup company as a student offers the flexibility of creating your work schedule to align with a busy school schedule.

The first step involves selecting the right business idea for you based on your interests, the overall startup costs, and the amount of time you can dedicate to your business. This guide highlights the most unique and innovative startup business ideas for students to help you find the right one for you.

Recommended: Find more inspiration by checking out our list of the best startup ideas and top startups to watch in 2024 !

Startup Business Ideas for Students

Some of the most successful startups in history were created by students. Even if you are only looking for a little side-hustle income while you study, an innovative concept will undoubtedly set you apart from the get-go. Here are some of the best startup ideas for students we've sourced.

1. Tutoring

Are you proficient in a specific subject or do you have a unique skill? If yes, you can help other students by starting your own tutoring business. Any subject in which you excel — like math, English, or science — can provide a potential tutoring opportunity.

Tutoring businesses can charge by the session or the hour. You can easily market this type of business within your school, at the public library, or in community centers. Best of all, this startup idea has virtually no startup costs. 

2. App Development

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

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

3. Freelance Writing

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

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

4. Podcasting

Next up on our list of business ideas for students is podcasting. As the popularity of podcasts continues to grow , it’s an ideal time to start a podcast of your own. In fact, the podcast industry was valued at $18.52 billion in 2022 . The most successful podcasts feature engaging hosts and a specific topic that can attract interested listeners. You also must feel comfortable with interviewing and public speaking before you start a podcast.

Moreover, it’s best to choose a topic for which you have a passion and can see yourself dedicating a good amount of time to researching. For example, if you’re passionate about sustainability, your podcast could focus on interviewing other entrepreneurs who currently work to fight climate change.

Launching your own company? Build your startup website today with GoDaddy !

5. Tech Support

Do you have a knack for solving technical problems? If so, you may want to consider launching a tech support startup. You can run these types of online businesses entirely from your home and market it by posting flyers at schools, coffee shops, and libraries. You just need a phone, a website, and some technical experience. You also can charge by the job, the hour, or the type of device.

In this type of business, customers typically call or email with a technical issue and you, the tech support person, walk them through how to fix that issue. Alternatively, you can request your customers drop their computers off so you can take a first-hand look.

Check out our full list of tech startup ideas .

6. Digital Textbook

Digital textbooks are educational ebooks that provide a much-needed alternative to traditional textbooks in terms of both price and sustainability. With the introduction of ereaders and other devices, the market for digital alternatives to educational materials continues to grow. Whether you plan to write a digital textbook or start a website that’ll house popular digital textbooks, this startup idea can enable you to earn a profit while you provide a service to students and the educational system.

Online learning continued to gain popularity in the past year. Providing additional tools for students — or people who just want to brush up on a subject — by developing an educational technology (edtech) startup can make education more accessible to a larger fraction of society. Startup costs for this business idea can range from $12 to $27,209 , depending on the business model. 

Whether you plan to develop an app, create online courses, or build an online tutoring resource for students, you must first identify your target subject and platform. Additionally, successful edtech startups tend to offer a product that’s both effective and intuitive. Remember to consider those criteria during your product development process.

See our interview below with the co-founders of edtech startup Trashbots !

8. Meal Delivery Service

Faced with fewer dine-in options, people increasingly turned to food delivery services in the past year. In fact, the market is expected to experience a 14.5% compound annual growth rate (CAGR) from 2023 to 2032. Starting your own meal delivery service can help small local businesses meet delivery demand, enable customers to enjoy their favorite restaurants, and provide a business opportunity that’ll work with your busy schedule.

To compete with the big names in meal delivery, connect with your local restaurant owners. Many popular food delivery apps and websites charge a substantial fee to deliver for restaurants. Your business can gain a competitive edge by offering quick delivery times and lower fees.

Check out our full list of  startup ideas for food lovers .

9. College Care Package Business

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

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

10. Ebook Writing

Today, you can accomplish almost everything virtually — even publishing a book. Ebooks provide an alternative to traditional publishing, making them cheaper for both authors and readers. Moreover, ebooks are far more sustainable than paper books.

To get started, you’ll need writing experience and a topic idea for your ebook. Whether you choose to write a novel or a cookbook, the ebook market offers a huge profit potential while requiring minimal startup and overhead costs. Especially considering that ebooks made up over 10% of book sales in 2022 . That makes this type of business a great choice for aspiring entrepreneurs.

11. Social Media Influencer

A successful social media influencer almost always understands how to create and effectively market a brand. If you think you’re up to the challenge, this can make a lucrative and exciting startup idea. Social media influencers with between 10,000 and 25,000 followers make $100-$250 per post , on average. 

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

12. Mobile Coffee Cart

Many students work in coffee shops and cafes while pursuing their education. A mobile coffee cart offers a flexible schedule and the opportunity to network within your community. It also provides a relatively low-cost alternative to opening a brick-and-mortar cafe with many mobile coffee carts costing between $2,000-$5,000 to start. 

Customers typically hire mobile coffee carts to work events like corporate retreats, school events, and even weddings. Make your business stand out by offering a customizable drink menu that can complement customers’ event themes.

Feeling inspired? Learn how to launch your own company with our guide on how to start a startup .

13. YouTube Channel

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

Social media platforms focus on making connections, and YouTube is no exception. Every industry or hobby has the potential to connect with thousands of YouTube subscribers, which you could parlay into a lucrative business venture. Especially considering the average YouTuber in the US makes $33 per hour on average. 

14. Review Website

Like most people, you probably search online for reviews before you spend your money at an unfamiliar business. Review websites hold businesses accountable by giving people insights about them so potential customers can make an informed decision.

You can easily start and manage this kind of website with a minimal budget, making it perfect for student entrepreneurs. In order to run a successful review website, you’ll need to gain credibility with customers and differentiate your site from larger review sites like Yelp.

15. Social Media Platform

Many social media users seek new platforms to explore so they can connect with others. Starting your own social media platform can provide a space to foster a sense of community as well as a potentially lucrative business venture. Moreover, it offers a flexible schedule — especially during the initial stages of operating your site.

To entice users to join your social media platform, focus on developing ideas that’ll make your site feel distinct from other platforms. For example, you could opt to cater to a specific demographic like gamers or musicians.

16. Livestreaming

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

17. Graphic Design

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

18. Dropshipping

If you like the idea of an ecommerce startup but don’t have the room to store items to sell, dropshipping could be the perfect solution. Dropshipping startups simply take customer’s orders online, but instead of filling orders themselves, they are sent to a third-party retailer for fulfillment. Essentially, your startup consists of customer experience management, marketing, and curating items for your dropshipping business. On average, dropshippers make $3,414 per month , according to ZipRecruiter. 

19. Affiliate Marketing

Affiliate marketing is a popular side hustle , but it can be a profitable business idea if you do it right. Through affiliate marketing, you will earn a commission on sales you drive for brands you partner with. What makes this idea particularly good for college students is that there is a relatively low barrier to entry. Be sure to pick products you're already known for, associated with, and to which you have market access. 

20. Website Development

Building websites can be a great way to make money as a student, particularly if you're studying something related. Almost everyone, from businesses to individual entrepreneurs, needs a website, and if you do a great job on the first few projects, you'll start getting business through word of mouth. This is another space with a pretty low barrier to entry as there are many open source tools available for developers.

21. Virtual Assistant

You don’t have to be in an office to help businesses and fellow entrepreneurs get organized. A virtual assistant startup is a great business idea for organized, task-oriented individuals. If this sounds like you, it is easy to get started by utilizing sites that can help you find work you’re interested in. Get a competitive edge by diversifying your skill set to make yourself eligible for a litany of job opportunities. Plus, this flexible position brings in $24 per hour on average in the US, according to ZipRecruiter.

22. Web Design

Web designers focus predominantly on the user experience aspect of web pages. If your field of study relates to design (or even if this is just a passion for you), a web design startup might be your best bet for a student business. To really hook the clients, pair up with a friend in the development space and offer your services as a package.

23. Handcrafted Products

Handmade, artisanal goods never go out of style. Plus, the market for handmade goods is expected to see moderate growth from 2023 to 2030 at a CAGR of 4.7% . Selling handcrafted products offers you the flexibility of selling your goods online, in established retailers, or at local markets. The first step involves determining the product(s) you’ll make. This could include food products, pet toys, wooden furniture, or many other items. To successfully sell handcrafted products, remember to focus on product quality and cater to the right niche market.

24. Cleaning Services

Next on our list of the best business ideas for students is cleaning services. You can start a successful cleaning startup in several ways. For example, you could start a house-cleaning business, an office-cleaning business, or a graffiti-cleaning business, among others. 

This type of startup has low initial costs and flexible hours. You can schedule as many clients as you can manage based on your availability. Overhead costs for cleaning services include marketing materials, cleaning supplies, and vehicle expenses, which means it'll cost very little to launch your cleaning startup. Notably, in the US, cleaning business owners make $127,973 per year on average , making this a lucrative business for students. 

25. Moving Company

If you ask people if they enjoy moving, most will answer with a firm “no.” That can make a moving company startup a potentially lucrative business idea. Not to mention, the industry has grown by 11.4% in 2022, meaning the demand for moving companies is increasing. You’ll need to hire a team and purchase a vehicle large enough to move furniture so this type of business has higher startup costs than other business ideas. But, that initial investment can pay off once you start booking jobs and generating positive reviews.

26. Planner and Journal Business

The right planner or journal can help even the most disorganized people manage their time more effectively. Journals also can serve multiple purposes, making them a valuable tool for many. Starting a planner and journal business can help fulfill the demand for these products while offering you a potentially lucrative business venture.

Planner and journal businesses can sell their products online or in established retailers like bookstores and novelty shops. To make your products stand out, consider giving them distinctive features like including time-management tips inside your planners or manufacturing your journals from recycled materials.

27. Social Media Marketing

If you're already spending a lot of time on social media platforms and you have a good understanding of the marketing end, why not turn that into a startup? Anyone with a product or service, especially local businesses, to sell today needs to be on social media, and many business people do not have the skills or the time to pull it off well. The multiple free scheduling and design tools available today also make this a pretty low-cost industry to enter.

28. Website Flipping 

Another website-based startup you can try is website flipping. People often allow their websites to go dormant either because they've closed their business or just aren't interested anymore. This is an opportunity for you to purchase this website at a relatively low cost, optimize it, increase the traffic, and flip it at an excellent profit when it is worth far more than it was.  

29. Motivational Apps

Mobile apps are really popular, and if they make you feel good and improve your life, all the better. Apps geared toward motivation do very well in most app stores, and they're relatively simple to build and maintain. You will need to come up with an innovative idea, though, but thankfully, there are many spaces to work within — meditation, mindfulness, inspiration, and productivity, to name a few. If you plan to develop an app of your own, you can also take advantage of university-led incubators or startup accelerators such as Techstars Mobility or Plug and Play Tech Center. 

30. Organization Service

Few people naturally possess strong organizational skills. If you’re one of those few, an organization service may represent the perfect startup idea for you. Professional organizing services not only help customers tidy up cluttered spaces, but also help them develop the organizational skills they need to maintain order going forward. One of the benefits of starting this type of business is you can operate it either in person by visiting customers’ homes and offices or virtually by conducting video consultations.

31. Errand-Running Service

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

To get started, you just need a vehicle, a phone, and some spare time. You can operate your errand-running business from home and market your services on bulletin boards at community centers, senior centers, or anywhere you can post a flier with your information. While this business idea isn’t the most lucrative, on average, errand runners make $15 per hour . If you can manage a fleet of errand runners, the earnings can add up. 

32. Language Learning Startup

If you’ve learned a foreign language, you know it’s difficult, especially for adults. However, knowing a second language is not only a fun pastime, but it opens up job opportunities and helps people connect with other communities. A language learning startup can be any product or service that helps people learn a new language, such as an app, instructional website, or written guides.

To make your startup stand out, focus on making learning a new language fun for users so that they want to reach for your product or resources again and again. If you opt for a tech-related language learning model, consider utilizing an edtech incubator to help develop your idea such as Berkeley SkyDeck, FasterCapital, or ASU Venture Devils. 

33. Virtual Event Planning

With businesses and organizations grappling with social distancing requirements in the last few years, the virtual events space has exploded, and hosting events online has actually become a game-changer for many businesses. As a result, a new critical skill has emerged: the need to plan these events. If you have great digital skills and you're pretty good at organizing people, look into virtual event planning as a startup. Again, there are many open-source tools available that make breaking into this space relatively cheap.

34. Clean Beauty Products

Green or “clean” beauty products are increasing in popularity across the US as we learn more and more about the harmful effects of some ingredients in traditional beauty products. In fact, the global clean beauty market is currently valued at $8.3 billion in 2023 and is expected to reach $15.3 billion by 2028 . A green beauty product startup provides a better alternative, whether it’s clean skincare or cosmetics — the key is to create a product that is as effective as traditional products without the same damaging ingredients.

35. Software Startup

A software development startup is responsible for creating, distributing, and maintaining the programs that businesses use every day. This industry is experiencing exciting growth with annual revenue of $238 billion per year and an annual growth rate of 3.9% , which means this startup idea holds a tremendous amount of opportunity for entrepreneurs.

36. Snack Company

Do you have a go-to homemade snack that you know other people would love as well? If so, take your tasty treats to the next level by starting a snack company . Consumers are always looking for delicious new snack options with special ingredients or a twist on a classic snack. Growing your audience can be done by going to farmers' markets or local events and letting people try your delicious new snack!

37. Robotics Startup

It's not uncommon for robotics startups to be founded by students or recent graduates, especially if they are studying in the field at one of the more prestigious colleges with well-backed programs and grants for research. College can be an amazing place to discover new technology and brainstorm with fellow students, but you also want to ensure that you understand the industry you're trying to get into before you get too far ahead of yourself. 

With that said, definitely use the resources at your disposal if you're in a great robotics program and see where it can take you and your startup. Or, consider joining an incubator or accelerator such as AlleyCorp, MARL 5G Accelerator, or Buildit Accelerator to help develop your startup. 

38. Fintech

If you have a good understanding of both the financial and technology spaces, you may want to consider a fintech startup as your niche. Historically, student fintech startups that have focused predominantly on student financial issues have done really well. It's vital to understand your market, after all. When you start to delve into the world of finance, though, you'll need to ensure that you are complying with any state laws that govern the industry. After you've ticked that box, your fintech startup will be ready to go. For a startup idea like this, you may want to consider seed stage venture capital firms such as Precursor Ventures that have a history of deploying capital into promising fintech companies. 

39. Marketplace Website

Become the platform your community uses to sell and exchange goods and services by creating a marketplace website startup. Elevate the startup idea by prioritizing user experience and safety protocols. The key to a successful marketplace website is to create a positive experience for users that makes buying and selling items seamless and safe.

40. Sustainable Clothing Line

Fashion is one of the most wasteful industries on the planet. If you’re thinking about starting a clothing line, consider making it a sustainable one! Plus, the demand for these businesses is growing and is projected to continue that trajectory, forecasted to grow from $7.8 billion in 2023 to $33.05 in 2030 . A sustainable clothing line can make an impact by creating thoughtful garments that are long-lasting and ethically made out of sustainable materials such as linen or hemp.

41. Virtual Meeting Platform

With the virtual events space growing so considerably, the need for virtual meeting services has increased proportionately. This might mean anything from scheduling software for end-to-end management or perhaps even add-on apps that assist large companies with the management of various meetings simultaneously. There are several open-source tools available to help you break into this space.

42. Beverage Startup

If you have a great drink recipe or an idea for a special ingredient or function that will entice customers, start a beverage company ! A competitive edge in this industry is well-designed packaging that is catered to a target demographic and, of course, a delicious beverage inside. If you’re more of a connoisseur of beverages, a beverage distribution company is another lucrative startup idea that can be focused on a specific type of beverage such as beer, soda, or wine. Keep in mind that if you start a beverage company, you may benefit from a founder community such as Foodbevy to connect with other entrepreneurs in the space and grow together. 

43. SEO Services

Search engine optimization ( SEO ) is an essential tool for online marketing. However, to achieve a successful SEO service, you need to dedicate time and effort to creating content and staying on top of changes in search trends. Starting an SEO services startup offers customers an opportunity to cash in on this powerful internet marketing tool without spending too much of their own. To create a successful SEO services startup, you will need a deep understanding of SEO tactics and the software to do effective research. 

Looking for more inspiration? Check out our list of the top startups to watch in 2024 !

44. Online Courses

Online courses are a great way to use your existing knowledge to help college students, professionals, or anyone looking to expand their skill set in a niche market. This startup idea, on average, can bring in roughly $82,500 per year , according to ZipRecruiter. To create an online course, you will likely want to join an online course platform such as Udemy or Skillshare and utilize digital marketing strategies to get the word out about your course. However, a great online course can be one of the less laborious but still profitable business ideas for students.

45. Translation Services

If you speak more than one language, offering translation services can be a great way to leverage your skills to start your own business. A translation services business is often responsible for translating various documents while maintaining client confidentiality. This can be done to either provide grammatical and spelling help or to ensure the content of the translation matches the original document.

46. Become a Reseller

With the rise of apps such as Poshmark, Vinted, and Depop, reselling clothing, shoes, and even home goods has become a popular side hustle for students. While some sellers opt to resell items from their own closets, others choose to upcycle garments or scour local thrift stores for deals on items. This idea involves keeping an eye on trends as well as offering items seasonally to ensure you are selling an item when demand is at its peak. 

How to Choose a Business Idea

Starting your own business as a student can mean additional cash and valuable experience. However, choosing a profitable business idea can be challenging, here's a few tips to find the right business idea for you.

Research Time Dedication

Whether you're in high school or college, school is your number one priority. Therefore, you need to seek business ideas that will be doable with your current school load. Many online business ideas for students provide time flexibility and allow you to work on your entrepreneurial goals during spare moments.

Pull From Your Skill Set

What are you already well versed in? Pulling from your skill set allows you to build a strong foundation early on and capitalize on your existing knowledge. This could mean launching a tutoring business if you're highly educated in one subject or doing freelance work doing strategy for other local businesses getting started on social media platforms.

Follow Your Passion

Above all, when you're starting your own business you should choose business ideas that you're excited and passionate about. If you are passionate about your business idea, there is a higher chance you will dedicate the time and effort necessary to make it a profitable, sustainable startup. 

Explore More Startup Ideas

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31 Best Business Ideas for Students 2024 (Combine with Studies)

Navigating college is an adventure. For many, it's a time of learning, growth, and exploration. But it can also be a time for innovative thinking and entrepreneurial action. Yes, college students can start their own businesses and make serious money!

Welcome to the world of student entrepreneurship! This guide will provide you with the 31 best business ideas for students in 2023. You don't need to wait until graduation to lay the foundation for a successful future.

Whether you have a knack for creating viral content on social media platforms or simply have a burning passion, there are countless profitable business ideas.

Not only will these ventures potentially earn you income, but they also teach invaluable skills, enhance your resume, and perhaps transform into a full-time career post-graduation. Buckle up and get ready to explore!

Benefits of Starting a Business as a Student

In between juggling classes, extracurriculars, and social life, you may wonder why on earth a college student would want to start their own business. The answer lies in the benefits that come with running your own show, especially while still in college.

Let's unpack the potential rewards of a student launching their own business.

Real-World Experience

By translating a business idea into action, students can gain hands-on experience in the business world.

You'll learn to manage resources, understand the market, and enhance your negotiation skills. In other words, you're receiving a real-world MBA while still pursuing your degree.

Financial Independence

Let's not overlook the appeal of making money. Many college students feel the pinch of financial constraints. Having a profitable business idea not only paves the way for financial independence but also reduces reliance on student loans or part-time jobs.

Entrepreneurial Skills

Student entrepreneurship cultivates essential entrepreneurial characteristics and skills like leadership, strategic thinking, and problem-solving. These skills are transferable to future career endeavors and can set you apart in the job market.

Utilize Free Time

College often offers more free time than a 9-5 job. This flexibility allows for the pursuit of innovative startup business ideas. And remember, many of today's biggest companies were born out of college dorm rooms.

Building a Network

Running a business gives students opportunities to interact with diverse groups, helping them build a strong network. This can open up more opportunities down the line, both for their business and for their future careers.

Best Business Ideas for Students

1. online tutoring.

Ah, the classic tutoring business. But this time, with a modern twist. As a college student, you have a treasure trove of knowledge that can be turned into an online business idea.

What and Why?

Online tutoring is one of the most approachable business ideas for students. You get to share your academic strengths, be it math, science, languages, or essay writing, with learners worldwide.

With the shift to remote learning, the demand for online tutors has spiked, making it a potentially lucrative endeavor.

Where and How?

Get started by identifying the subject areas you excel in and are passionate about teaching. You could offer services through established platforms like Chegg or start your own website. Don't forget to advertise your services on social media platforms and student forums, and use the best online teaching tools .

Practical Takeaways

• Research online platforms where tutors are needed.
• Identify your strengths and the subjects you can teach.
• Build a schedule that balances your tutoring with academic commitments.
• Network on social media pages and student forums to find potential students.

2. Proofreading and Editing Services

Another business idea where you can cash in on your academic skills is proofreading and editing. It's a niche market, but it's always in demand, especially among your fellow students.

The hustle and bustle of academic life often leave students struggling to proofread their papers thoroughly. Offering a fresh pair of eyes and a knack for grammar, you can provide editing services for your peers and even academic staff.

Just like online tutoring, you can start offering these services on platforms like Upwork and Fiverr or create your own website . Again, the social media accounts of your fellows are your best friends when it comes to promotion.

• Brush up on your grammar and style guides.
• Determine a fair but profitable pricing structure.
• Promote your services through all available channels.
• Deliver high-quality work to build a good reputation and attract repeat clients.

3. Social Media Consultancy

While college students are known for their social media savvy, local businesses often struggle to maintain an active online presence. This disparity creates a prime opportunity for you to step in and offer your services.

By offering social media consultancy services, you can help businesses expand their online presence and engage with their customers more effectively. With more businesses turning to online platforms, the demand for social media consultancy is on the rise.

Start by identifying local businesses in your area that could use a social media boost. Offer to manage their social media pages or provide consultancy on their online strategy. Tools like Hootsuite and Buffer can help you manage multiple social media accounts efficiently.

• Develop a comprehensive understanding of various social media platforms.
• Identify businesses in need of social media services.
• Master the tools that will help you manage social media accounts efficiently.
• Keep up-to-date with the latest social media trends and stats to offer relevant advice.

4. Website Development

Let's talk digital, shall we? Web development – it's like constructing buildings but in cyberspace. With more and more businesses going digital, the need for well-crafted websites is ever-growing.

Website development is one of the most lucrative online business ideas that aligns with the digital age. If you're tech-savvy and know how to code, this is your opportunity to make serious money. Every business, big or small, needs a website, and they're willing to pay for a job well done.

This is one of the profitable online business ideas that can be launched right from your dorm room. You can start by using website builders like WordPress or Wix to provide simple websites.

As you grow, you can move on to more complex coding languages like JavaScript or Python to offer custom solutions.

• Learn basic and advanced coding languages.
• Create a portfolio website to showcase your work.
• Stay updated with the latest web design trends and stats .
• Network with local businesses and online communities to find potential clients.

5. Graphic Design Services

Picture this – using your creativity to help businesses visually communicate with their customers. Yes, we're talking about graphic design .

If you have a knack for aesthetics and know your way around design software, offering graphic design services could be your golden goose. From logo design to marketing collateral, businesses need a multitude of graphics and are ready to pay for quality work.

You can offer your services on freelancing platforms such as Fiverr and Upwork. Alternatively, you could create your own website to showcase your portfolio. Social media platforms are excellent places to promote your work and attract clients.

• Learn to use design software like Adobe Illustrator or Canva.
• Develop a diverse portfolio showcasing your design skills.
• Understand the needs and preferences of your target audience.
• Stay updated with the latest design trends.

6. Freelance Writing

If you're the kind who can paint pictures with words, then freelance writing could be your canvas.

Freelance writing service is a flexible and profitable business idea that can be pursued right from your college dorm. Businesses, bloggers, and various online platforms are always in search of original, high-quality content.

You can offer writing services on platforms like ProBlogger or start a blog . Besides, academic writing platforms, like EssayShark and Writers Labs, always welcome writers who can assist with essay writing. Promote your services via social media to attract more clients.

• Polish your writing skills and learn different writing styles.
• Identify your niche – tech, fashion, academic writing, etc.
• Create a portfolio showcasing your writing prowess.
• Network with potential clients on social media platforms.

7. Virtual Assistant

Stepping into the digital arena once more, let's explore the world of virtual assistance. Picture a personal assistant operating in the cloud, and you've got a virtual assistant.

What and Why? Being a virtual assistant is a great business idea for students. With more small businesses going digital, the demand for remote assistance is on the rise.

As a VA, you can offer services ranging from email management to social media scheduling. If you're organized and love helping others, this gig could be your ticket to making extra money.

Where and How? Kickstart your VA journey right from your laptop. Begin by identifying the tasks you're skilled at—it could be anything from managing calendars to handling customer service. Promote your services on social media platforms and freelancing sites like Upwork and Fiverr.

• Identify your skills and package them into services.
• Use project management software like Asana or Trello for organization.
• Master employability skills , like communication and learning, to elevate your chances of being hired.
• Develop a strong online presence, especially on platforms like LinkedIn and Twitter, to attract potential clients.

8. E-commerce Store

Imagine owning a store without the hassle of a physical space. Welcome to the world of e-commerce .

What and Why? Starting a profitable online store is one of the best business ideas for students. The e-commerce industry is booming, and there's a world of products you could sell. From handmade crafts to imported goods, the online marketplace is vast and varied.

Where and How? E-commerce platforms , like Shopify or Etsy, make it easy to set up your own e-commerce store. To start an e-commerce business from scratch , you need to identify your niche, source products, set up your online shop, and start selling.

• Research to find a profitable niche that aligns with your interest.
• Excellent product photography is key to attracting customers.
• Invest in good customer service.
• Use social media platforms to promote your store.

9. Dropshipping Business

Now, what if you could run a store without dealing with inventory? Sounds great, right? That's dropshipping.

What and Why? Dropshipping is a lucrative online business idea where you sell products without handling them. You purchase the item from a third party after a customer makes an order and have it shipped directly to them. It's a fantastic way to start an e-commerce business with minimal upfront costs.

Where and How? You can start dropshipping on an e-commerce platform like Shopify, which integrates with dropshipping providers like Oberlo. You select the products, set up your store, and start marketing.

• Choose products with high demand and low competition.
• Create an appealing website to attract customers.
• Excellent customer service is still a priority.
• Use social media and SEO strategies for marketing your business.

10. Translation Services

In the modern globalized world, language has never been more important. This is where offering translation services can come into play for multilingual students.

What and Why? Translation services are an excellent business idea for students fluent in more than one language. With businesses expanding internationally, the demand for translators is high.

Offering translation services can help bridge language gaps and enable effective communication. Plus, it's an online business idea with low startup costs .

Where and How? This business can be operated from anywhere. You can offer your services on freelancing platforms like Upwork or Fiverr. Moreover, targeting industries like legal or medical can fetch higher rates due to the specialized language used.

• Identify the languages and industries you want to focus on.
• Develop your translation skills and stay updated with linguistic changes.
• Network with businesses that may require your services.
• Create a profile on freelancing platforms.

11. Digital Marketing Agency

With businesses going digital, having an online presence has become a necessity. And guess what? You could be the one to help them establish that presence.

What and Why? Starting a digital marketing agency is a perfect business idea for students well-versed in the digital world. From SEO to social media management, businesses are willing to pay for help in navigating the online marketplace.

Where and How? Digital marketing services can be run from home with your laptop and an internet connection. You could start with a specific area, like SEO or social media, and expand your offerings as your agency grows.

• Stay updated with the latest digital marketing trends and stats .
• Identify your niche and excel at it.
• Build a portfolio to showcase your skills.
• Network and build relationships with potential clients.

12. Mobile App Development

Got a knack for coding? Mobile app development could be your ticket to a thriving business.

What and Why? With everyone glued to their smartphones, apps have become indispensable. Mobile app development is an excellent business idea for students with coding skills. There are different kinds of mobile apps out there. Whether it's a game or a productivity app , if you can create such an app, there's a market for it.

Where and How? Developing apps can be done from your dorm room or home. All you need is a computer, relevant development software, and a great idea. Once your app is ready, you can publish it on app stores and start generating income either through in-app purchases or advertising.

• Stay updated with the latest app development technologies.
• Identify a problem that your app can solve.
• Invest time in designing an intuitive and attractive user interface.
• Market your app effectively on social media platforms and app stores.

13. Online Coaching

Do you have skills or knowledge that others are eager to learn? If so, online coaching is an excellent business idea that lets you capitalize on your expertise while helping others grow.

What and Why? Online coaching is all about imparting your knowledge, skills, or experiences to others via digital means.

Whether you're an academic wizard, a business guru, or even a sports coach, you can reach and impact a global audience. With the rise of remote learning, this online business idea has gained immense popularity.

Where and How? You can operate an online coaching business from the comfort of your home. Platforms like Zoom or Google Meet can be used to conduct sessions, and social media platforms can help market your services.

Additionally, creating a YouTube channel to share snippets of your coaching sessions can attract potential clients.

• Identify your area of expertise and the target audience.
• Design a structured curriculum or course.
• Market your services through social media.
• Deliver high-quality, engaging sessions to retain and attract more clients.

14. Stock Photography

Do you have a keen eye for aesthetics and a decent camera? Then stock photography can be a lucrative business idea for you.

What and Why? Stock photography involves selling your high-quality photos through platforms that supply images to businesses, websites, and individuals.

With businesses' growing online presence, the demand for unique, quality images is on the rise, making it an excellent business idea for students.

Where and How? You can start your photography business from anywhere, shooting images that interest you or align with market demand.

Once you have a collection, you can upload these photos to stock image websites like Shutterstock or Getty Images, where users can purchase them.

• Invest in a good quality camera and learn basic photography skills.
• Understand the market demand and trends in stock photography.
• Regularly upload your photos to stock image websites.
• Ensure your images are clear, well-composed, and high-resolution.

15. Podcast Production

Podcasting is taking the digital world by storm. With a unique concept and excellent production, you can join the podcasting wave.

What and Why? Podcasting involves creating digital audio files on various topics that can be streamed or downloaded by users. If you have a knack for storytelling or expertise in a specific field, podcasting can be an engaging way to share your knowledge and ideas.

Where and How? Starting a podcast doesn't require a fancy studio. You can start recording from your own room with a decent microphone and editing software. Once your podcast is ready, distribute it on platforms like Apple Podcasts, Spotify, or your own website.

• Identify a unique topic or niche for your podcast.
• Invest in decent recording and editing equipment.
• Promote your podcast through social media and collaborate with other podcasters.
• Engage with your audience by asking for feedback and topic suggestions.

16. Fitness Instructor

For those students passionate about health and wellness, becoming a fitness instructor is a rewarding way to transform your passion into profit.

What and Why? As a fitness instructor, you'll provide workout routines and health advice to clients. With the increase in health consciousness, this business idea for students allows you to empower others to lead healthier lives while maintaining your own fitness.

Where and How? You can conduct classes virtually using video conferencing platforms , like Zoom or Skype, or in person if you have your space.

Initially, you can provide services for a small fee or even free to build a client base and reputation. Gradually, as you gain more clients and experience, you can increase your rates.

• Gain fitness certification to enhance credibility.
• Identify a fitness niche – yoga, aerobics, weight training, etc.
• Market your services on social media platforms and through word of mouth.
• Maintain a high level of personal fitness and continually update your knowledge.

17. Home Organizing Service

If you have a knack for decluttering and organizing, starting a home organizing service can be the right business idea for you.

What and Why? A home organizing service helps clients declutter and organize their living spaces, leading to a more functional and aesthetically pleasing environment.

With the rise in popularity of minimalistic living and decluttering trends, this is one of the more practical small business ideas for students.

Where and How? This business can be started in your local area, targeting homes and even offices. You'll physically visit the client's location, assess the situation, and provide organizing services. You can promote your services through social media platforms, local advertising, and word of mouth.

• Learn basic organizing principles and trends.
• Start with small projects and gradually take on bigger ones.
• Build a portfolio of your work to showcase to potential clients.
• Provide excellent customer service to build a solid reputation.

18. Pet Care Service

For animal-loving students, a pet care service can be an enjoyable way to earn extra money.

What and Why? A pet care service includes pet sitting, dog walking, and even grooming. As people's lives become busier, the demand for reliable pet care services is on the rise, making this a profitable business idea for students.

Where and How? You can start a pet care service in your neighborhood. Promote your services by distributing flyers or posting on community notice boards.

You can also leverage the online business model by creating a simple website optimized for SEO or using social media platforms to attract customers.

• Learn basic pet care skills, including first aid.
• Determine competitive rates for your services.
• Promote your services both offline and online.
• Provide a caring, reliable service to build trust with clients and their pets.

19. Gardening Services

As greenery is the need of the hour, a gardening service might be the best business idea for students with a green thumb.

What and Why? Gardening services can range from lawn maintenance to plant advice and landscaping. It's a business idea for students who enjoy gardening and have knowledge about different types of plants and their care.

Where and How? You can start this service within your local community. Advertise your services at local events, community centers, or online platforms. As you gain experience, you can expand your client base through word of mouth and positive customer feedback.

• Brush up your knowledge about different types of plants and their care.
• Invest in basic gardening tools.
• Offer personalized garden design services.
• Consider offering related services like composting advice or garden installations.

20. Handmade Crafts

If you have a knack for creating handmade items like jewelry or home decor, turning your hobby into a business could be a lucrative idea.

What and Why? Creating and selling handmade crafts allows you to express your creativity while making money. From jewelry making to knitted products, the possibilities are endless, and the demand for unique handmade items is growing.

Where and How? You can sell your handmade crafts at local craft fairs or online platforms like Etsy. Also, sell them on social media platforms like Instagram, where you can reach a larger audience. Word of mouth among other students is a powerful way to expand your business too.

• Identify a niche market and create products that appeal to that market.
• Invest in high-quality materials for your crafts.
• Learn about basic business principles like pricing strategies and Marketing Mix .
• Take high-quality photos of your products for online listings.

21. Online Courses

With the rise of the internet, sharing knowledge has never been easier. If you're knowledgeable about a specific subject, offering online courses can be a million-dollar business idea .

What and Why? Online courses can be about anything, computer coding, music, art, science, you name it. If you're passionate and knowledgeable about a topic, you can teach it to others. This is an ideal business idea for college students, as they can target their peers or those in lower grades.

Where and How? You can create your courses and host them on online course platforms like Udemy, Skillshare, or even your website. Promote your courses through your social media platforms, within your college, or through email marketing.

• Identify a topic that you're both knowledgeable about and that has demand.
• Design the course to be engaging and comprehensive.
• Invest time in creating high-quality course materials.
• Utilize SEO to ensure your course is discoverable on online platforms.

22. Influencer

Nowadays, being a social media influencer isn't just about posting photos on a beach. It's a business idea ripe with potential for enterprising students with a knack for online communities.

What and Why? “ Influencer” is a broad term spanning across various social media platforms like Instagram, YouTube, TikTok, and more.

It's all about building an audience by sharing engaging content and working with brands to promote their products or services. This is an excellent business idea for students with a flair for creativity and a strong social media presence.

Where and How? To start, choose a niche you're passionate about. Popular niches include finance, beauty, business, and marketing.

Then, create and share content that reflects your interests and personality. As you gain followers, you can collaborate with brands for sponsored posts or affiliate marketing .

• Consistency is key. Regular posting and interaction with your audience are crucial.
• Collaborate with other influencers to expand your reach.
• Quality content is critical. Ensure your posts are unique and engaging.
• Leverage your influence to collaborate with brands for sponsored content.

23. Videography Services

If you're adept at capturing the world through a lens, offering videography and photography services online could be an exciting business venture .

What and Why? Videography services can cover a range of events – weddings, corporate events, music videos, or social events. With the growing demand for high-quality video content, this can be a profitable venture for students skilled in filming and editing videos.

Where and How? Start by creating a portfolio showcasing your work. These could be videos you've made for school, for friends, or for personal projects. Promote your services through social media platforms, and as you build your client base, request referrals and testimonials to build your reputation.

• Invest in high-quality filming and editing equipment.
• Attend videography workshops or online courses to enhance your skills.
• Build a solid online portfolio using a website builder for videographers and promote it on social media platforms.
• Network within your local community and offer competitive pricing for your services.

24. Data Analysis

In today's data-driven world, businesses are continually looking for insights to help them make informed decisions. This presents an opportunity for students skilled in data interpretation.

What and Why? Data analysis involves processing data sets to extract meaningful insights. These could be market trends, customer behavior, or operational efficiencies.

This business model is suited for students with a strong analytical mindset and familiarity with data analysis tools.

Where and How? You can offer your services to online businesses that need help analyzing their customer or operational data. Start by identifying a niche, such as e-commerce or finance, and market your services to businesses in that industry.

• Master popular data analysis tools like Excel, SQL, or R.
• Stay updated with the latest trends and stats in data analytics .
• Start a blog or website to showcase your expertise and case studies.
• Understand the needs of your clients and customize your analysis accordingly.

25. eBook Author

Weaving words into stories or sharing knowledge on a subject of your interest can now earn money, thanks to the revolution of digital publishing.

What and Why? As an eBook author, you can write books and publish them digitally on platforms like Amazon Kindle, Apple Books, or Google Play Books. This is an ideal student business if you have a knack for writing and want to share your expertise or creativity with the world.

Where and How? Start by identifying a niche you're passionate about, write the eBook, format it, design a cover, and publish it online. Promote your book on social media platforms and through your personal network to reach a wider audience.

• Research popular niches to find a potential market for your book.
• Consistently write, edit, and revise your work for the best outcome.
• Promote your eBook aggressively on various platforms.
• Collect reviews and ratings to increase your eBook’s visibility and credibility.

26. Budgeting Advice

Many university and college students struggle with managing their finances. If you're good with numbers and budgeting, this business idea for students is a match.

What and Why? As a budget advisor, you can help fellow students understand their finances better and manage their money effectively. This can be rewarding and beneficial, especially when most high school students and university freshmen have little to no knowledge about budgeting.

Where and How? Begin by offering your services to other students in your college or university. You can conduct one-on-one sessions or organize workshops. Utilize social media and school bulletin boards to advertise your services.

• Stay informed about personal finance trends and advice.
• Develop a simple, effective budgeting system that's easy to follow.
• Build trust by maintaining the confidentiality of your clients' financial information.
• Market your services effectively to reach a wider audience.

27. SEO Consultant

If you understand the importance of SERPs and know how to optimize them, becoming an SEO consultant could be one of the best startup ideas.

What and Why? As an SEO consultant, you help businesses improve their online presence by optimizing their website and content for search engines. In the digital era, every business seeks to rank higher in search engine results, creating a demand for SEO experts.

Where and How? You can start by offering your services to small businesses in your local area or online. Keep updating your SEO knowledge, as search engine algorithms change frequently. Use SEO tools for audits and propose data-driven strategies to clients.

• Stay updated with the latest SEO trends & stats and algorithm changes.
• Gain practical experience by working on different projects.
• Obtain SEO certifications to enhance your credibility.
• Develop strong communication skills to convey your strategies to clients effectively.

28. Virtual Reality (VR) Game Development

Embracing the newest technological trends can lead to unique business ideas for college students. If you're intrigued by the immersive world of VR, this business idea might be just right for you.

What and Why? Virtual Reality (VR) game development involves creating interactive, engaging gaming experiences using VR technology. The VR gaming market is booming, with more players seeking thrilling, immersive experiences.

Where and How? Starting this business would require knowledge of game development and VR technology. You can learn these skills from numerous online courses and tutorials.

Start by creating simple games, get feedback from players, and continuously improve your games based on the feedback.

• Acquire VR game development skills and stay updated with VR trends.
• Choose a game genre that aligns with the interests of your potential customers.
• Use feedback to refine your games for a better user experience.
• Market your games on various gaming platforms and forums.

29. Transcription Services

In an era of content explosion, transcription services have become a sought-after solution for many businesses and professionals.

What and Why? Transcription involves converting audio or video content into written text. It's a business idea with a low startup cost that can generate consistent income. Universities, businesses, podcasters, and researchers are among those who often require transcription services.

Where and How? You can start this business right from your dorm room. All you need is a computer, a reliable internet connection, and good listening and typing skills. Market your services on freelance platforms and reach out to potential clients directly.

• Invest in high-quality headphones and transcription software to increase your productivity.
• Be accurate and detail-oriented to ensure high-quality transcripts.
• Learn to transcribe in different formats and styles to cater to various client needs.
• Market your services actively on freelance platforms and social media channels.

30. 3D Printing Service

If you are tech-savvy and enjoy creating physical products, a 3D printing service could be one of the great business ideas for students.

What and Why? A 3D printing service provides customized objects made using 3D printers. The demand for this service is increasing as more people discover the benefits of 3D printing, from custom gifts to practical everyday items.

Where and How? You would need to purchase a 3D printer and supplies and learn how to use design software. Alternatively, you can skip the upfront cost of investing in a 3D printer and simply outsource the work and charge the client a premium.

You’ll get business by marketing your services to local businesses, younger students for their school projects, or individuals looking for personalized items.

• Learn how to operate a 3D printer and use 3D printing software .
• Identify a niche market like custom gifts or school project models.
• Advertise your service locally and online to reach potential customers.
• Offer a range of products to cater to different customer needs.

31. Personalized Gift Service

The world of personalized gifts can be a fertile ground for student business ideas. Your imagination is the only limit.

What and Why? A personalized gift service is all about crafting unique presents tailored to the recipient's tastes and interests. As a university student, this business idea allows you to blend your creative talents with the opportunity to earn money.

Where and How? You can run this business from your dorm room or home. Simply get started with a few art supplies and a dedicated workspace.

Later, you can explore technologies, like 3D printing, for more complex designs. Promote your service online, leveraging social media platforms to showcase your creations and reach potential customers.

• Identify a niche market after conducting market research . Personalized gifts for birthdays, weddings, or anniversaries are popular choices.
• Offer a broad range of personalization options to attract different customers.
• Showcase your creations on social media platforms to attract potential customers.
• Provide excellent customer service to ensure repeat business and referrals.

32. Online Book Club

If you're a university student who loves reading, an online book club could be the perfect startup idea for you.

What and Why? An online book club provides a platform for book enthusiasts to discuss and share their views on various books. It can generate income through membership fees, sponsored content, or affiliate marketing.

Where and How? You can start by creating a website or a social media group for your book club. Decide on a book to read each month, and organize weekly or bi-weekly discussions. Engage your members by encouraging them to share their thoughts and opinions.

• Pick a variety of interesting books to attract a diverse audience.
• Engage your members through polls, debates, and live chats.
• Monetize your book club through membership fees, sponsorships, and affiliate marketing.
• Promote your book club on various platforms to reach a larger audience.

33. Language Lessons

If you're fluent in more than one language, offering language lessons could be a great way to leverage your skills and earn extra income.

What and Why? Providing language lessons involves teaching a second language to students or adults. With the rise of global communication, the demand for learning new languages is continually growing.

It's one of the viable business ideas for students, especially for those who have mastery over a high-demand language.

Where and How? You can offer these lessons either face-to-face or online. If you choose the online route, you can take advantage of various virtual meeting tools . Develop a curriculum, start marketing your services, and adapt your teaching methods to fit different learning styles.

• Determine what languages are in demand through market research.
• Develop a structured curriculum that caters to different proficiency levels.
• Be patient and adaptable to cater to different student learning styles.
• Leverage social media and online language learning platforms to reach potential students.

How To Start a Business as a Student

Initiating a business venture as a student is a bold step towards financial freedom and practical learning. But where does one start? What are the considerations, and how do you manage it with academic commitments? I will break it all down for you.

Identify Your Interest and Skill Set

The first step in starting a student business is to identify what interests you and where your skills lie. Business ideas stem from a keen interest and a set of relevant skills.

For example, if you're a fast typist and have a keen ear, offering transcription services might be your calling. Similarly, if you are proficient in a foreign language, offering language lessons could be a great fit.

Perform Market Research

Once you've identified your potential business venture, the next step is to conduct market research. It's a crucial step that often differentiates a successful business from a failed one.

This research helps you understand the demand for your product or service, identify your target audience, and determine competitive pricing strategies .

Create a Business Plan

A solid business plan acts as a roadmap for your venture. It outlines your business goals, strategies for achieving them, and the resources you need. It also helps you understand the financial aspects of your business, including your costs and potential revenue.

Start Small and Scale Gradually

One of the advantages of being a student entrepreneur is the ability to start small. With minimal financial risk, you can test your business ideas and adapt based on feedback.

Starting small allows you to learn the ropes, make mistakes, and refine your business model before you scale up.

Balancing Business and Academics

Juggling a business venture and academic commitments can be challenging. Time management and organization skills become critical.

It's essential to allocate specific hours to your business without hampering your studies. Remember, your education is a priority that you shouldn't neglect.

• Explore your interests and identify a business idea that aligns with your skills and passion.
• Conduct thorough market research to understand your potential customers and competitors.
• Draft a clear, comprehensive business plan to guide your venture.
• Start on a small scale, learn from the experience, and refine your business model.
• Learn to balance your academics and business to ensure success in both areas.

In a nutshell, starting a business as a student can be a rewarding experience. It's an opportunity to apply what you learn in your studies, develop new skills, and earn money.

So, why wait? Dive into these business ideas, unleash your entrepreneurial spirit, and start building your empire today!

Explore Further

• 21 Recession-Proof Small Town Business Ideas 2023
• 30 Best Tech Startup Ideas for Beginners in 2023
• 13 Best Countries to Start a Business in 2023
• 21 Best Small Business Ideas to Make Money Online in 2023

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

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A business plan template for university students offers a range of benefits for aspiring entrepreneurs and business-minded students. Some of the key advantages include:

• Structured approach: Provides a clear and organized framework to develop a business idea from concept to execution.
• Strategic planning: Helps students define their goals, objectives, and strategies for their business venture.
• Financial projections: Allows students to create realistic financial forecasts and projections, ensuring they have a solid understanding of the financial aspects of their business.
• Investor readiness: Prepares students to present their business ideas confidently to potential investors or lenders.
• Risk assessment: Prompts students to identify and analyze potential risks associated with their business, enabling them to develop contingency plans.
• Professional documentation: Creates a professional and polished business plan that can be used to showcase their ideas to mentors, professors, and potential partners.
• Entrepreneurial mindset: Encourages students to think critically, problem-solve, and develop a mindset of innovation and entrepreneurship.

Main Elements of University Students Business Plan Template

ClickUp's Business Plan Template for University Students is the perfect tool to help aspiring entrepreneurs and business students outline and develop their ideas into a comprehensive business plan. Here are the main elements of this template:

• Custom Statuses: Track the progress of each section of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do.
• Custom Fields: Include important details in your business plan using custom fields such as Reference, Approved, and Section to ensure all necessary information is captured.
• Custom Views: Access different perspectives of your business plan with five different views, including Topics, Status, Timeline, Business Plan, and Getting Started Guide, allowing you to easily navigate and visualize your plan.

With ClickUp's Business Plan Template, university students can efficiently organize and collaborate on their business ideas to create a solid roadmap for their ventures.

How To Use Business Plan Template for University Students

If you're a university student looking to start your own business venture, using the Business Plan Template in ClickUp can help you get started. Follow these four steps to create a comprehensive business plan:

1. Define your business concept

Begin by clearly defining your business concept. What products or services will you offer? Who is your target audience? What problem does your business solve? This step is crucial for setting the foundation of your business plan.

Use a Doc in ClickUp to outline your business concept and brainstorm ideas for your target audience and unique selling proposition.

2. Conduct market research

To ensure the success of your business, it's important to gather information about your target market, competitors, and industry trends. Conduct thorough market research to gain insights into customer needs, market demand, pricing strategies, and potential challenges you may face.

Create tasks in ClickUp to organize your market research activities, such as analyzing industry reports, conducting surveys, and studying competitor analysis.

3. Develop a marketing strategy

A strong marketing strategy is essential for reaching your target audience and attracting customers. Outline your marketing tactics, such as social media campaigns, content marketing strategies, and advertising plans. Consider how you will position your brand and communicate your unique value proposition.

Use the Board view in ClickUp to create a visual representation of your marketing strategy, with columns for different marketing channels and tasks for each tactic.

4. Financial planning and projections

The financial aspect of your business plan is crucial for demonstrating the viability and profitability of your venture. Create a detailed financial plan that includes projected revenue, expenses, and cash flow. Consider factors such as startup costs, pricing strategies, and sales forecasts.

Utilize custom fields in ClickUp to track and calculate financial data, such as revenue projections and expense breakdowns.

By following these four steps and utilizing the Business Plan Template in ClickUp, you can create a comprehensive plan that lays the groundwork for your university student business venture. Good luck!

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

University students who are aspiring entrepreneurs or are involved in business-related programs can use the Business Plan Template for University Students in ClickUp to create a comprehensive roadmap for their venture.

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 develop your business plan:

• Use the Topics View to organize your business plan into different sections such as Executive Summary, Market Analysis, Marketing Strategy, Financial Projections, etc.
• The Status View will help you track the progress of each section, categorizing them as Complete, In Progress, Needs Revision, or To Do.
• The Timeline View will allow you to set deadlines and milestones for each section, ensuring you stay on track.
• Use the Business Plan View to get a comprehensive overview of your entire plan, including all sections and their statuses.
• The Getting Started Guide View will provide you with step-by-step instructions and tips on how to use the template effectively.
• Customize the template by adding custom fields like Reference, Approved, and Section to provide additional information and track important details.
• Update statuses and custom fields as you work on each section to keep track of progress and ensure all necessary information is included.
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The Ultimate Guide to Starting a Business as a Student Entrepreneur

You’re currently studying at university (it’s expensive), and you believe you’ve spotted a gap in the market for an innovative new product or service that can help you make money. You’re certain you have what it takes to realise your vision and make a success of your idea.

However, you’re unsure what support is available from your university to get your idea off the ground. In this article we’ll guide you to taking advantage of the support available for your fledgling business from grants to incubator programmes and student entrepreneurship competitions.

What is entrepreneurship?

The problem is, entrepreneurship is a very broad term, and some definitions can serve to put off those best suited to running their own business with flair and originality. Entrepreneurship shouldn’t necessarily put you in the mind of Dragons’ Den , lengthy funding meetings with investors and grant applications, but for many it does, and this perspective can be off-putting to potential student entrepreneurs, the demographic most likely to drive innovation when they bring fresh energy and enthusiasm to the job market.

“A misconception is that the term ‘entrepreneur’ may not resonate with students and they do not see themselves as an entrepreneurial person.” Kirsty Badrock, Entrepreneurship Co-ordinator, Careers and Employability, University of Chester

In fact, entrepreneurship can apply to any way an individual makes money on their own; that is, not through traditional employment as an employee of a business.

Investopedia defines an entrepreneur as “An individual who creates a new business, bearing most of the risks and enjoying most of the rewards. They are commonly seen as an innovator, a source of new ideas, goods, services and business or procedures.”

“If you have ever made money – from babysitting to making greeting cards, Etsy or eBay – then you’ve been entrepreneurial, and if you can do it once you can do it again!” Joseph Buglass, Enterprise & Incubation Manager at University of Central Lancashire

There is a myth that you either have the entrepreneurial drive and skill set required to run a small business or you don’t. We want to dispel this belief and drive more student enterprise. We believe students should be encouraged and supported on their path to entrepreneurship.

Whether you have a unique idea that you think will make you millions and make the world a better place or you have a particular set of skills and ambition and would prefer to strike out on your own and hold your own destiny in your hands, you can become an entrepreneur.

Is there a typical student entrepreneur?

Santander Universities’ report reveals there is a strong entrepreneurial spirit among university students, with over 450,000 students currently running or planning to set up a business while at university. But what type of venture could you start during your degree, and can you secure investor attention and funding for your big idea?

• A third of student entrepreneurs plan to turn their business into a career when they graduate
• Student entrepreneurship generates £1 billion every year

What are the most common student ventures?

So it seems that student entrepreneurship is relatively healthy. But what fields do students favour?

• Technology – 27%
• Arts and crafts – 17%
• Clothing and textiles – 9%
• Administration and business services – 9%
• Tutoring – 8%
• Charity, voluntary and social work – 7%

Unsurprisingly, the most popular student entrepreneurial ventures are technology-based. All students have access to computers and the internet and, with a little entrepreneurial spark, students can set up their own businesses.

Likewise, arts and crafts businesses are popular, possibly because designing crafts can easily be undertaken from student accommodation without the need for business premises, and it’s an activity that can easily fit into leisure time. Examples of students’ arts and crafts companies are greetings card designers, homemade jewellery enterprises, and art and design services.

Can your student business turn into a career?

Santander Universities’ report shows positive trends across the country for many student entrepreneurs. As many as 33% of the student business owners surveyed said they plan to turn their business into their long-term career.

52 % said they will continue their business as a second job for additional income or run it as a hobby alongside full-time employment. 9% said their business would continue with guidance and support from others, and only 4% said they would close their business down on graduation.

What support can universities provide to student entrepreneurs?

There’s a wide variety of support available from most universities. You certainly aren’t on your own when starting a new business! All entrepreneurs need help, support and guidance; no business owner is an island.

The University of Chester for instance through its Venture Programme develops the entrepreneurial capabilities of students across all fields of study, and The University of Bristol were one of the first Russell Group universities to start such a programme with their Centre for Innovation and Entrepreneurship . They do this through enterprise skill development, creating a local entrepreneurial community to connect students with mentors and encouraging collaboration between student entrepreneurs and more.

Challenges bring out the best in an entrepreneur

A challenging environment brings out the best qualities in a would-be entrepreneur. Words such as innovation , problem-solving and creativity are synonymous with what we imagine an entrepreneur to be in the modern day. That’s why many university educators believe in giving students the tools necessary to become entrepreneurs, but not in giving only advice or judging an idea to be right or wrong.

“In fact, we avoid giving advice as much as we can. For example, we never tell a student that their idea won’t work, or that it is a bad idea. However, we ask them difficult questions like what problem are you solving? Every answer they give we disagree with or challenge them on further, irrespective of our opinion.” Simon Best, Programme Leader Msc Innovation Management and Entrepreneurship – Middlesex University London

By learning the skills needed to be an entrepreneur, students can apply their knowledge to the field wish to enter. It’s important that young entrepreneurs learn that it’s important to think creatively and be flexible if they are going to be successful running their own venture. That’s why learning to overcome challenges is vital to creating a thriving business.

What skills help entrepreneurs overcome challenges?

• Leadership skills
• Strategic thinking

Mentorship and networking

Some of the greatest entrepreneurs of our time believe they wouldn’t have achieved what they have without the close mentorship of someone they looked up to. A report by the Federation of Small Businesses revealed that 70% of entrepreneurs with a mentor remain in business for at least five years, while 45% of new businesses fail in the first five years .

Bill Gates considers Warren Buffett to be his mentor, and Steve Jobs thought of Ed Woolard – the Apple board member who encouraged Apple’s cofounder to return to the company after several years in the wilderness – as his mentor.

As a student entrepreneur, it’s a good idea to check if your university has a student entrepreneur mentorship programme. Many do. The university programme will connect students with local successful business people, perhaps even successful alumni of the university, demonstrating to young entrepreneurs that their visions of success are achievable.

“Although all aspects are important, I believe the one-to-one support provides the most value to start-up founders.” Marek Tokarski, Senior Enterprise Manager, Durham University

Incubator programmes

An incubator programme can help kickstart student-run businesses. Incubator programmes are structured programmes that provide support to startup companies through office space, training and networking opportunities. Incubator programmes are used as catalysts to drive growth and establish successful companies.

Many university business schools have incubator programmes; however, entry may be restricted, so check application deadlines as early as you can to avoid disappointment. Most student applications will be cut off before the beginning of each academic year.

If your university doesn’t have a startup incubator programme they may be able to recommend local incubators in the area that you can apply to.

You may be able to apply for grants from various bodies. Your university may have a grants programme for entrepreneurs.

The Prince’s Trust was set up to provide support for young people. They’ve been providing grants to young entrepreneurs since 1976. The Prince’s Trust Enterprise Programme provides funding and support for your business, including connecting you with a suitable mentor.

Other grant programmes for young people

• Enterprise Nation Student Startup of the Year
• Mayor’s Entrepreneur (London)
• Santander Universities Entrepreneurship Awards

Entrepreneurship competitions

There are many entrepreneurship competitions sponsored by businesses and various other bodies. Lots of these competitions offer significant prize money and provide the seed capital that many new ventures need to get off the ground, expand and set their sights higher.

• Unilever Young Entrepreneurs Award – environmental and social change businesses
• Baldwin’s KickStart Young Entrepreneur Awards
• Shell LiveWIRE Smarter Future Award

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Business ideas and execution

When most people think of an entrepreneur, they think of someone starting a tech business. The term has become closely linked to Silicon Valley tech entrepreneurs in recent years. Many people’s reply to the statement “Name the first entrepreneur that you can think of” would be either Steve Jobs or Mark Zuckerberg.

But the range of business ideas and fields developed by entrepreneurs is extremely wide. A more recent development is an individual monetising their online presence, such as bloggers and social media influencers. However, competition is fierce online, and this form of entrepreneurship isn’t necessarily as easy as some might believe.

Young entrepreneurs can be successful in many other areas, from hospitality to entertainment.

“Tech isn’t going to solve all our problems” Dave Jarman, Senior Lecturer in Entrepreneurship, Centre for Innovation and Entrepreneurship, Bristol

The hospitality and entertainment industries have been some of the hardest-hit by the Coronavirus pandemic . These and other industries that have been financially impacted as a result of lockdown measures could represent an opportunity to new businesses looking to pick up the slack and provide essential services to Brits.

This brings into focus the purpose of your entrepreneurship. Some people start a small business at university as a means to an end, to boost their employability. For others, it’s a route to a full-time career, in which case it’s important that your business will have requisite demand and that it is scalable, so it can expand and develop throughout your working life.

“It’s those students who are developing knowledge or skills at University within a particular area who are more likely to be enterprising, for example, those studying within the Faculty of Arts and Media, the Faculty of Humanities and the Faculty of Science and Engineering.” Kirsty Badrock, Entrepreneurship Coordinator, Careers and Employability, University of Chester

As stated earlier, it’s not necessary to be an expert in your field. The most successful entrepreneurs, while talented and well informed in their industry, combine knowledge with hard work and constant personal development. One of the most valuable traits an entrepreneur can have is to learn from experience and apply hard-learnt lessons to future strategic planning.

“For an idea to be successful it requires four things. Desirability – will other people want it enough to use it and pay for it? Feasibility – does it actually work (well enough)? Viability – is there a business model that makes enough profit to sustain the enterprise? And credibility – does the founder have the competence and determination to persuade others they can make it happen? Dave Jarman, Senior Lecturer in Entrepreneurship, Centre for Innovation and Entrepreneurship, Bristol

Disruptive has been a big buzzword in the entrepreneurial community since the mid-00s. But does your idea really have to be wholly unique or disruptive to established industry norms to be successful and scalable?

It’s an easy trap to fall into with all the discourse around disruptive technology. Take the rise of challenger banks, which has revolutionised the banking industry. Rather than focusing on how original or disruptive your idea is, a more valuable action is comparing your idea to what’s already available through rigorous competitive analysis.

Through market analysis you’ll be able to objectively assess the feasibility of your idea. This is such a vital process for any entrepreneur because, if you wish to grow your company, perhaps by seeking investment funds, you’re going to need to be able to provide powerful evidence of the demand in the market for your product, service, and brand.

» MORE:  How to grow your small business online

Access to funding

For many entrepreneurs, raising capital is essential to bringing their vision to life. Funding might be needed for product manufacture, marketing and hiring employees.

Recognising your own strengths and weaknesses and being able to market yourself to stakeholders and decision makers are invaluable skills. Even if they don’t lead to a successful funding application, they will sharpen your pitching skills and understanding of all the functions of your business.

Aside from getting a firm grasp on your business’s feasibility, knowing your market also involves identifying whom you want to approach for capital. There is serious research work in identifying your potential investors.

The network you establish at university will help you get started. By making connections with local business people and your lecturers, you will have the support you need to identify the right investors for your business, and at the same time gain invaluable advice from experienced entrepreneurs. This is also where having a strong mentor can come in handy, because they’ll be able to give you firsthand advice on how they secured funding for their own businesses.

When approaching investors with your pitch, it can be invaluable to know whether they are likely to be receptive to your business model. You’ll understand this by approaching investors at the earliest possible stage. Before you make a formal approach for capital, it’s crucial to ensure your approach is correctly targeted when asking for capital by gauging the interest level of different investors. You can also investigate the track record of potential investors to see where their interests lie, and then ask yourself what the companies that have successfully won investment capital have done well. Take apart their business plan and apply it to your own where relevant.

“It’s good to get on investors’ radars early. It means that they can guide you on where you need to be before they’ll seriously consider giving you the investment you need.” Marek Tokarski, Senior Enterprise Manager, Durham University

“Do some research on your investors and ask yourself the following questions. What is their reputation like? What are they offering? Just money, or do they offer more support in the form of business expertise and mentoring? Do they have the same or similar values to yourself?” Joseph Buglass, Enterprise & Incubation Manager at University of Central Lancashire

Investment capital isn’t everything

Don’t despair if you cannot secure investment capital. There are other ways of securing funding, whether you pursue a grant or even put your own money into your business.

There is something to say for investing in your own business. It demonstrates that you believe in yourself and the strength of your ideas. Consider investing your savings in your own business, either as an alternative to securing capital or as a prudent capital injection into your business, which will both help it get off the ground and prove to investors your seriousness in making your enterprise work.

“Student entrepreneurs should also be able to demonstrate exactly what they are putting into their startup idea. Do they have enough faith in their idea to put in their own money? Their own time and resources?” Joseph Buglass, Enterprise & Incubation Manager at University of Central Lancashire

Grants and competitions are an alternative form of investment worth pursuing. However, you’ll still need to firmly prove the efficacy of your business plan. Check with your university the grants that are available to students either looking to start or already running their own businesses.

University grants will usually be available in much smaller amounts than those possible from venture capitalists or small business loans. The benefit of grants, however, is that they are generally not repayable and they will be easier to secure than venture capital, as investors bear a lot of risk should your business fail.

“Not getting venture capital isn’t the death knell of a startup that many assume” Dave Jarman, Senior Lecturer in Entrepreneurship, Centre for Innovation and Entrepreneurship, Bristol

You might be thinking, what about business and startup loans? Business loans can be a valuable source of funding for a student entrepreneur. With a business loan, you could secure anywhere from a few thousand to millions of pounds. However, when researching loans it’s important to assess risks, evaluate the feasibility of repayment schedules and understand all the conditions of the loan before making yourself responsible for repayment.

Remember, if you’re considering applying for a business loan, you will need a dedicated business bank account .

Comparing business loans

As a student running your own business or as a prospective business owner, you’ll now be aware of the support available and the funding options open to you.

If you’re ready to invest in your business to enable scaling and are considering a small business loan, why not read our business loan guide.

We wish you luck with your venture. Small business owners are so important to a healthy economy, as you drive innovations, create jobs and fulfil consumer demand.

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About the Author

Nic Redfern is Finance Director at NerdWallet and an accomplished business and finance strategist with over 26 years' experience. Nic has been instrumental in the growth of several regional and…

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College Student Business Plan Template – Free Access

Harry Foster

Published on May 09, 2024, updated on May 14, 2024

Throughout undergraduate studies, there are abundant chances to engage in entrepreneurship competitions. These events not only enhance personal experiences and foster well-rounded skills but also hold the promise of transforming innovative business concepts into reality. Yet, for students unacquainted with professional jargon like market dynamics, operational frameworks, profit strategies, and risk assessment, crafting a comprehensive and polished business plan can pose challenges and bewilderment. This article, coupled with the collaborative online tool Boardmix Whiteboard , outlines the process of crafting a top-notch business plan tailored for college students. Its goal is to aid those gearing up for competitions or nurturing entrepreneurial ambitions.

1. Cover and Table of Contents

The cover and table of contents create the first impression when others review our plan. Therefore, accuracy is crucial.

- Cover: The cover should reflect basic project information, including the project logo, name, responsible person, affiliated school, advisor, and team members.

- Copyright Statement: A separate page for a more formal appearance.

- Table of Contents: It's recommended to include hyperlinks for easy navigation, saving time for reviewers during online evaluation.

2. Market Pain Point Analysis

This section explains the rationale behind our product. We need to integrate and explain current market issues, target user needs, reasons behind these issues, market size, and prospects. A clear and specific analysis of the market status will make our proposal more persuasive.

- Market Issue Description: Use cases, reports, stories, and data to illustrate the pain points vividly.

- Market Reason Analysis: Elaborate on the essence behind the issues, detailing each point.

- Market Size and Prospects: Identify the population or scenarios that need solutions and assess the prospects through data research. Boardmix Whiteboard offers a wealth of market analysis case resources for beginners.

3. Product Introduction

After clarifying market pain points, we need to explain and organize the solutions our team can propose, adhering to principles of specificity, clarity, and focus.

- Product Technology: Describe the technology used, functionalities, and problems solved, including technical parameters, approaches, and outcomes.

- Product Images: Provide physical, model, or operational flow images with explanatory text.

- Product Advantages: Highlight the product's innovation, market, and technical feasibility. Use Boardmix's built-in Competitive Analysis Template to compare our product with competitors on performance and price, making advantages more apparent.

4. Business Model Introduction

This section introduces the feasible operational model constructed by the entire team, centered around the product. It includes user pain points, customer segmentation, unique selling points, solutions, channels, key metrics, competitive barriers, cost analysis, and revenue analysis. A more intuitive method is to use the Business Model Canvas to introduce the business model.

5. Marketing Strategy

To make a product known to the public and market, we need to plan marketing strategies.

- Target Customer Analysis: Analyze who our target customers are, including their numbers, demand levels, and purchasing power.

- Promotion Strategy: How can we make customers aware of our product? What means and channels can we use?

6. SWOT Analysis

SWOT is a strategic analysis method representing a company's internal capabilities (strengths, weaknesses) and external environmental factors (opportunities, threats). Using it for project analysis can better illustrate the feasibility of implementation. Boardmix includes a built-in SWOT Analysis Template and case resources.

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7. Risk Analysis and Response

Conducting risk analysis and developing contingency plans are crucial to prevent business plan failure. Potential risks include financial, market, technical, transactional, and management risks.

8. Financial Data and Financing

- Equity Structure and Financing Needs: Clarify the current equity structure, share distribution, reasons for holding shares, and expected financing in terms of share percentage and amount. Specify how the funds will be used.

- Financial Data Tables: Include profit analysis, sales forecasts, etc.

9. Team Member Introduction

- Project Members: List professional expertise, positions, and specific responsibilities. Include relevant achievements if applicable.

- Advisors: Research expertise in the project's field and industry, influence, achievements, and specific responsibilities.

10. Future Plans

It includes short-term and long-term plans with achievable goals.

11. Appendices

It includes certificates, patent introductions, other relevant project materials, research data, project practice images, etc.

This marks the completion of a thorough template for a university student entrepreneurship plan. Organize your materials in line with the provided information, and you're bound to make a lasting impression.

In the process of entrepreneurial planning, conducting extensive business analysis and planning is essential. Boardmix Whiteboard stands out as a robust and feature-rich online whiteboard software designed to foster creativity.

It simplifies the creation of diverse graphics and charts, offering an array of templates for knowledge organization and idea clarification, thus proving highly user-friendly for university students and beginners alike.

Additionally, Boardmix facilitates real-time collaborative editing, enabling online meetings, brainstorming sessions, and presentations, thereby enhancing team collaboration.

Furthermore, Boardmix boasts a wealth of high-quality case studies spanning enterprise management, marketing, operations, and various scenarios, serving as a valuable free learning platform. Boardmix Whiteboard is currently available for personal use at no cost. Give ti a try today!

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59 Obvious Business Ideas For Students in 2023 (With Low Investment)

Launching a business while studying can be a daunting task. However, it's an excellent opportunity to apply learned theories, gain practical skills, and even earn some income. In this article, we present 59 low-budget business ideas specifically curated for students.

These ideas are designed to be manageable alongside your studies, requiring minimal initial investment, while offering valuable learning experiences. Whether you're pursuing an MBA or an undergraduate degree, there's something here to ignite your entrepreneurial spirit.

(And, of course, if you're looking for a hub to research, plan and think through it all, get started in Bizway , today.)

1. Tutoring Services

‍ Offer your academic expertise to peers and younger students.

• Difficulty: Easy
• Budget needed: Low
• Technical experience: None
• Tips: Start with subjects you excel in, promote through college boards and social media.

2. Proofreading Essays

‍ Help fellow students improve their essays with your impeccable grammar.

• Difficulty: Moderate
• Budget needed: None
• Tips: Offer services on college boards, libraries, or online platforms like Upwork.

3. Campus Laundry Service

‍ Assist students by washing and folding their laundry.

• Budget needed: Moderate (for equipment)
• Tips: Start with dorm mates and friends to gain trust.

4. Dorm Cleaning Service

‍ Offer cleaning services tailored for student accommodations.

• Tips: Promote during start/end of terms when cleaning needs are highest.

5. Freelance Writing ‍

Create content for blogs, websites, and local publications.

• Technical experience: Basic writing skills
• Tips: Start a portfolio on platforms like Medium and seek clients on freelance websites.

6. Graphic Design

‍ Design digital assets like logos, banners, and infographics for businesses.

• Budget needed: Low (for software)
• Technical experience: Intermediate design skills
• Tips: Use free tools like Canva initially, and showcase your work on platforms like Behance.

7. Photography Services

‍ Capture events, provide portrait sessions or sell photos online.

• Budget needed: High (for equipment)
• Technical experience: Basic photography skills
• Tips: Offer discounted rates to friends and college events to build your portfolio.

8. T-Shirt Printing

‍ Create and sell custom apparel for college events or niche themes.

• Budget needed: Moderate
• Tips: Use print-on-demand services initially to reduce upfront costs.

9. Meal Prep Services

‍ Cater to health-conscious peers with pre-planned, nutritious meals.

• Technical experience: Basic cooking skills
• Tips: Begin with simple recipes and promote on college boards or through social media.

10. Mobile Repair Service

‍ Provide handy repair services for common devices like phones and laptops.

• Technical experience: Intermediate technical knowledge
• Tips: Offer pickup and drop services for added convenience; ensure you’re updated on the latest repair techniques.

11. Event Planning

‍ Organize and coordinate events for your campus and outside clients.

• Budget needed: Low to Moderate
• Tips: Partner with local suppliers for decor, catering, etc., and always have a backup plan.

12. Fitness Classes

‍ Lead workout sessions or yoga classes for fellow students.

• Difficulty: Easy to Moderate
• Technical experience: Basic knowledge of fitness
• Tips: Offer classes in open spaces in the campus or virtually through Zoom.

13. College Blogging

‍ Share insights, reviews, and tips about campus life through a blog.

• Tips: Use platforms like WordPress or Blogger to start; incorporate multimedia like photos and videos.

14. Handmade Crafts

‍ Sell unique handmade items like jewelry, paintings, or knitted goods.

• Technical experience: Craft skills
• Tips: Set up stalls during college fests or sell online via Etsy.

15. Personal Shopping

‍ Assist peers in shopping for clothes, accessories, or even groceries.

• Budget needed: None (unless offering products upfront)
• Tips: Stay updated with the latest trends; consider niche markets like vegan shopping.

16. Digital Marketing

‍ Offer social media, SEO, or PPC services to local businesses.

• Technical experience: Basic digital marketing knowledge
• Tips: Certifications from platforms like HubSpot or Google can add credibility.

17. Personal Chef Services

‍ Cook and deliver meals to students or faculty on-demand.

• Technical experience: Cooking skills
• Tips: Consider health trends like keto, vegan, or gluten-free options.

18. Music Lessons

‍ Teach fellow students how to play a musical instrument or sing.

• Technical experience: Proficiency in a musical instrument or vocals
• Tips: Offer group classes to accommodate more students at a time.

19. Pet Sitting

‍ Take care of fellow students' pets during vacations or busy times.

• Technical experience: None, but love for animals is a must
• Tips: Ensure you have a space for pets and understand their specific needs.

20. Custom Merchandise

‍ Design and sell custom merchandise for clubs, teams, or events on campus.

• Technical experience: Basic designing skills
• Tips: Use print-on-demand services to avoid inventory issues.

21. Study Group Coordinator

‍ Organize and lead study groups for tough courses or exams.

• Technical experience: None, but a strong academic record helps
• Tips: Charge per session or offer package deals for a series of sessions.

22. Campus Tour Guide

‍ Help potential new students and their families get to know the campus.

• Tips: Familiarize yourself with the college's history and frequently asked questions.

23. Language Tutoring

‍ Teach students a new language or help international students with English.

• Technical experience: Fluency in the chosen language
• Tips: Use platforms like Duolingo or Rosetta Stone for structured curricula.

24. Reselling Business

‍ Buy popular or discounted items in bulk and sell them individually at a profit.

• Budget needed: Moderate to High
• Tips: Start with dropshipping to minimize risks.

25. Graphic Designing

‍ Offer design services for websites, advertisements, or custom artwork.

• Technical experience: Proficiency in tools like Adobe Illustrator
• Tips: Build a portfolio on Behance or Dribbble to showcase your work.

26. Hair and Makeup Services

‍ Offer grooming services for special events or regular styling.

• Technical experience: Basic styling skills
• Tips: Stay updated with the latest beauty trends; consider partnering with event planners.

27. Campus Laundry Service

‍ Offer laundry services to students, including pickup and drop.

• Tips: Offer package deals or subscriptions for regular clients.

28. Organic Farming

‍ Grow and sell organic vegetables or herbs.

• Difficulty: High
• Budget needed: High
• Technical experience: Basic gardening knowledge
• Tips: Use campus spaces or local gardens, and promote the organic and fresh aspects.

29. Travel Planning

‍ Plan trips or local experiences for fellow students during holidays.

• Technical experience: None, but knowledge of the locale is helpful
• Tips: Offer group discounts and unique experiences.

30. Thrift Shop

‍ Sell second-hand clothes, books, or gadgets to students.

• Tips: Hold regular pop-up events and ensure quality control.

31. Interview Coaching

‍ Help students prepare for job interviews or college placements.

• Technical experience: None, but experience in recruitment or placements helps
• Tips: Use real-world examples and conduct mock interviews.

32. Coffee Cart

‍ Serve coffee or snacks to students during breaks or study sessions.

• Tips: Find high-footfall locations and offer student discounts.

33. Campus Delivery Service

‍ Deliver food, books, or supplies across the campus for students.

• Tips: Use apps or chat groups to take orders and update customers.

34. House Cleaning

‍ Offer cleaning services for student dorms or off-campus housing.

• Tips: Offer flexible scheduling and regular cleaning packages.

35. Book Exchange

‍ Create a platform for students to exchange or rent textbooks.

• Technical experience: Basic platform management
• Tips: Ensure quality checks and transparent pricing.

36. Campus Guide App

‍ Develop an app to help newcomers navigate campus facilities, eateries, and events.

• Technical experience: App development basics
• Tips: Collaborate with student groups for regular updates and event integrations.

37. Sports Coaching

‍ Offer coaching sessions in sports you excel at, or arrange group training activities.

• Technical experience: Expertise in the chosen sport
• Tips: Consider seasonal sports clinics or fitness challenges to boost engagement.

38. Nutrition Consulting

‍ Guide students on balanced diets, meal plans, and fitness nutrition.

• Technical experience: Nutrition basics or certification
• Tips: Collaborate with campus gyms or offer meal prep workshops.

39. Custom Merchandise

‍ Create and sell custom t-shirts, mugs, or stickers based on college culture and memes.

• Tips: Take pre-orders to gauge interest and reduce inventory risks.

40. Study Groups & Bootcamps

‍ Organize focused study sessions or intensive bootcamps on challenging subjects.

• Technical experience: Expertise in the chosen subject
• Tips: Collaborate with professors or TA's for credibility.

41. Career Workshops

‍ Organize sessions on resume writing, LinkedIn optimization, and job hunting.

• Technical experience: None, but having a recruitment background helps
• Tips: Collaborate with the college placement cell or invite industry professionals.

42. DIY Craft Store

‍ Sell handmade crafts, jewelry, or DIY kits.

• Technical experience: Craftsmanship
• Tips: Offer customization options or hold DIY workshops.

43. Personal Shopper or Stylist

‍ Help students shop for events, or offer wardrobe styling sessions.

• Technical experience: Fashion sense and awareness
• Tips: Stay updated with the latest fashion trends and offer packages for special events.

44. Mental Health Workshops

‍ Organize sessions on stress management, mindfulness, or mental wellness.

• Difficulty: Moderate to High
• Technical experience: Basic knowledge or certification in psychology/counseling
• Tips: Collaborate with college counselors or mental health professionals.

45. Event Planning

‍ Help organize campus events, parties, or functions.

• Technical experience: Organizational and managerial skills
• Tips: Start with smaller events and build a portfolio.

46. Roommate Finder Platform

‍ Develop a secure platform for students to find and vet potential roommates.

• Technical experience: Website or app development basics
• Tips: Integrate verification methods to ensure safety and authenticity.

47. College Gear Rental

‍ Offer rental services for equipment such as cameras, musical instruments, or sports gear.

• Technical experience: None, but knowledge about equipment maintenance helps
• Tips: Offer student discounts and create a strong check-out/check-in system.

48. Campus Tour Guide

‍ Provide tours for prospective students or visitors, showcasing the highlights of the campus and sharing student experiences.

• Technical experience: None, but strong communication skills are essential
• Tips: Collaborate with the admission office for potential leads.

49. Foreign Language Tutor

‍ Assist students in learning a new language or improving their proficiency in one.

• Tips: Offer interactive sessions, like language cafes or game nights.

50. Tech Repair Service

‍ Offer repair services for gadgets such as phones, laptops, or tablets.

• Technical experience: Knowledge of electronics and device repair
• Tips: Ensure you have reliable suppliers for parts and always prioritize safety.

51. Content Creation Agency

‍ Offer services like blogging, graphic designing, or video production for local businesses or websites.

• Technical experience: Skills in content creation tools or platforms
• Tips: Build a strong portfolio and consider group collaborations for diverse offerings.

52. Plant and Succulent Sales

‍ Grow and sell indoor plants or succulents to fellow students.

• Technical experience: Basic knowledge of plant care
• Tips: Offer care workshops or unique planters as an added incentive.

53. Nutrition and Meal Prep Business

‍ Provide pre-packaged healthy meals or snacks for students on-the-go.

• Technical experience: Basics of food and nutrition
• Tips: Collaborate with fitness enthusiasts and offer subscriptions.

54. Handmade Jewelry Store

‍ Design and sell unique pieces of jewelry made from materials of your choice.

• Technical experience: Craftsmanship in jewelry making
• Tips: Offer customization and consider attending craft fairs.

55. Dorm Cleaning Service

‍ Offer cleaning services for dorm rooms or student apartments.

• Tips: Offer packages during move-in/move-out periods for maximum business.

And, of course, if you're looking for a hub to research and plan your brilliant business ideas, get started with Bizway , today.

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How to Write the Perfect Business Plan

Created by Henry Steele

By Henry Steele - January 8, 2018

Are you planning to start a business or do you already own one ?

Sponsored School(s)

If the answer is yes, then you need a business plan .

This seems like an extremely daunting task, but if you understand your business, it won’t be hard at all. It’s simply a matter of organizing the information in a clear, concise manner.

The following article discusses how to write the perfect business plan, including the types of business plans most commonly used, top 10 do’s and don’ts, what goes into a business plan, the structure of your business, marketing and sales, your organizational and operational plan and much more.

What is a Business Plan?

To help you write the perfect business plan, we’ll provide you with an exact outline of everything you’ll need to include, so even if you think you’re too young, you’ll have no problem starting out.

The reason many business owners first decide to put together a business plan is that they simply have to. If you want to apply for a business loan, attract investors, or obtain any necessary licensing, business plans are a prerequisite.

Even if you don’t need financing or licensing, however, it’s still a good idea to have a well-thought-out business plan. If you need to hire any key employees, a strong business plan will help attract strong talent. Whenever you need to deal with professionals, such as a consultant or an accountant, your business plan gives them invaluable insight.

Finally, it’s a good idea to put a business plan together for your own sake . As you put the business plan together, you’ll have the chance to really conceptualize and evaluate your strategy. You’ll build proof that your idea makes both financial and logistic sense. Once you start working to get your business off of the ground, a strong business plan guides and helps you stay on-track.

Types of Business Plans

Business plans come in all shapes and sizes, but you can generally whittle them down to three key versions.

Shortened Business Plan

This is an easily digestible, much shorter version of your normal business plan. Typically, it will be between three and five pages. You should include your executive summary, financials, and any information pertinent to the person/s to whom you are presenting the plan. A shortened business plan is usually made with a specific purpose or recipient in mind, so it will be easy to figure out exactly what is and isn’t important enough to make the cut.

In-depth Business Plan

Your standard business plan, and the one we will be teaching you to write . Again, these come in handy when seeking to fund your business, attract employees or work with professionals, or simply to act as a guide.

Operational Business Plan

Unlike the other two business plans we have discussed, an operational business plan is meant for internal use only. This will not be distributed to anybody except for employees or professionals working on your company’s behalf. An operational business plan focuses on the company’s overarching goals, mission, and vision so that all department stay aligned. Your Marketing and Sales, Operational Plan, and Financial sections will be key here.

What Language Should I Use?

Top 10 Do’s and Don’ts

Before we dive into our business plan outline and describe each section, let’s go over some general do’s and don’ts you’ll want to keep in mind as you write your business plan:

Do: Provide Examples

Don’t: Overload the Reader

An in-depth business plan will contain lots of useful information and will likely end up being much more than ten pages. Because it’s so long by nature, you need to make sure to only include the most useful information in each section. Format everything carefully and correctly. Don’t use language that confuses or intimidates readers outside of your industry. The easier it is for the reader to absorb everything you’re presenting them, the more effective your business plan is.

Do: Proper Research

Don’t: Leave Any Stone Uncovered

Somebody who reads your business plan shouldn’t have any major questions left unanswered. Include complete information about what you are aiming to do, how you are going to do it, how much money is needed, etc. Use our full outline below to ensure everything is covered.

Do: Be Honest

Don’t: Hustle Just to ‘Get it Done’

Writing a business plan isn’t a task you’re completing and checking off your to-do list. Everything must be accurate, thoughtful, and well-articulated. Keep in mind: this will guide you as you operate your business and is the key to obtaining financing and/or pitching your business.

Do: Make it a Living Document

Don’t: Focus Solely on Your Product

You might think your business revolves around your particular product/s or service/s, but there’s so much more to it than that. Your business plan talks about how the actual business is run, so you might want to leave the technical specifications and granular details for another time.

Do: Show Your Passion

In the end, your business plan and your business are about you. While it’s important to maintain a professional tone, don’t be afraid to let your enthusiasm about your business seep through every page.

Don’t: Write Alone

How to Write a Business Plan

• Keep it concise.
• Know your audience.
• Perfect your executive summary.
• Focus and refine constantly.
• Gather and check all of your data.
• Be confident, but don’t go overboard.
• Be as clear and in-depth as possible.
• Enhance with graphics.
• Share and gather feedback from trusted advisors.

What Goes into a Business Plan?

When writing your business plan, you will need to put in a lot of time and research. Luckily, we’re here to walk you through all of that. A winning business plan contains the below sections, and you can use our sidebar to navigate to each of these:

• Introduction

Executive Summary

• Information About Your Business
• Industry Analysis

Marketing and Sales

• Operational Plan

Your Business Plan Introduction

Cover Letter

A cover letter is essential whenever you are presenting the business plan to somebody for a specific reason and should be tailored to each individual. Like any other letter, it should include names, dates, and a cordial greeting. In the first paragraph, explain exactly why you are presenting the business plan to the recipient. Take one or two paragraphs to discuss your business (an even more condensed executive summary, as we will cover in the next section). Finally, let the reader know you appreciate their consideration and would be happy to address any questions or concerns. Include any necessary contact information below your name and signature.

Your title page should be clean and simple. Here’s what to include in it:

• The title of the document (i.e. Business Plan, Business Proposal, Summary Business Plan).
• The name of your company.
• A sub-heading, if necessary (i.e. ‘Presented to ABC Investing Company’).
• Who the business plan was prepared by.
• The name of any other owners or key partners.
• Basic contact information.

Table of Contents

A table of contents is essential to make your business plan transparent and easy to navigate. It is unlikely that a serious potential partner or investor will read through your plan once and toss it aside, so you want to make it easy for them to return and pick up where they left off or revisit any key bits of information. If you are providing a digital copy, include clickable links to each section for the reader’s benefit.

The executive summary is exactly what it sounds like – a brief summary that describes the essence of what your business is and what it aims to do. Here’s how to write a winning executive summary:

• Begin with a single sentence that sums your business up. This is otherwise known as your value proposition.
• Describe what niche or problem your business fills or solves.
• Explain exactly how your business solves this problem in a way that the rest of the competition does not or cannot.
• A very brief (one or two sentences) summary of any other information from the following sections that would be critical to your business’ success.

Your Business / Company

Structure of Your Business

First and foremost, you’ll need to discuss the legal structure of your business:

• Sole-proprietorship: simple to set-up, but the owner is fully liable for any debts or obligations.
• Partnership: a general partnership is also simple to set-up, but all partners would be liable. Limited partnerships, or LPs, are a bit more complicated.
• Corporation: a corporation is owned by stockholders, so it is unlikely you will either want or need to structure as one. There are two types of corporations, which vary in terms of shareholder limitations and tax liabilities: S corporations and C corporations.
• Limited liability corporation (LLC): an LLC is generally the best of both worlds for small businesses. The owner’s’ liability is limited, and taxation is that of a partnership, which provides better flexibility over a corporation.

Once the legal structure is determined, you’ll need to break down the ownership of the business. Are you the sole owner? Do you have business partners? Has anybody purchased a share of the business in exchange for funding? Provide a brief introduction to any key executives or owners, outlining what strengths they have and how they will impact the business.

Finally, include a brief history (if any) of your business, and any pertinent location details.

Business Vision, Mission, and Values

This is one of the most important sections of your business plan. Here, you need to impart your passion for the business and really describe what you’re trying to achieve.

Business Vision

Your vision statement is all about the company’s goals. It serves as a template for exactly what you’re trying to achieve, both short-term and long-term. Don’t hold back when it comes to your vision: if your goal is to eventually dominate the Northeastern coffee shop scene, say that. A vision statement is your chance to think big.

Where a vision statement thinks big, a mission statement is more practical. Your mission statement should discuss your company’s purpose. Why does it even exist in the first place? This mission statement will act to provide organizational direction and help you achieve your vision.

The values are all about how you plan to operate your business in relation to the stakeholders. This includes investors, customers, and members of the local community. How do you plan to treat them? What are you doing to make their lives and the world they live in better?

Analyzing the Industry

Market Size

Here, you’ll describe exactly how large the market is. You should be able to find national figures with relatively little research. If you’re not serving a national or international market, discuss how large the population you plan to serve is. Extrapolating from the national information, how big do you expect your actual market size to be?

In addition, you should discuss any important trends. Is your market growing or retracting? If your market is growing, discuss how you project to fit into that growth and seize your market share. If your market is shrinking, discuss why you think entering the marketplace is worthwhile, and whether or not you project growth in the future.

Industry Focus and Trends

First, you’ll want to talk about the industry in general. This includes looping back to the market size and discussing whether it is growing, stagnant, or shrinking. Are there any overarching trends or cycles that will affect your business?

This is also a good opportunity to discuss pricing. What type of money does your average customer spend in your industry? What price point are you aiming for, and why is that a good strategy? If you aren’t competing on price, what reasons do you have to believe that somebody will be willing to spend more on your business?

Below, we will discuss two valuable business models you can and should use to discuss your industry further.

PEST Analysis

• Political: what impact could the government have on your business. Is there any pending legislation that could change how you operate? Would tax changes or tariffs cause a financial strain?
• Economic: would an economic downturn cause sales to tumble, or is your business relatively immune to economic factors? Furthermore, what do current economic trends (inflation, consumer demand, etc.) say about your short-term potential?
• Social: are there any relevant social or cultural trends that are shaping the industry? Is there a distinct seasonality to your business? Consider, for example, the impact of the Christmas season to retailers in the United States.
• Technological: how has technology shaped your industry over the past decade? Take a look at the future and make an educated guess on where the industry is headed, and how you’ll fit into that future.

Sometimes PEST is lengthened to PESTLE to include any legal or environmental factors as well. If you believe either will have a significant impact on your business, make sure to include it as well.

Porter’s 5 Forces Analysis

• Competition: we will go into this in more detail next, but for this model you should discuss how much competition there is, and how profitable they might be.
• Threat of new entrants: how easy is it for somebody to enter your industry? For a casino, it would be quite difficult (extensive significant licensing and upfront costs), but for a food truck, it would be quite minimal. The easier it is to enter your industry, the greater the threat is of somebody else entering and stealing your market share.
• Power of suppliers : if your industry has a low number of suppliers or suppliers that are dominated by much larger companies, you will have a problem sourcing on-budget and on-time. If you aren’t reliant on very specific suppliers, however, or if there is competition among suppliers, you can find yourself in an advantageous position.
• Power of customers: specifically, do your customers have the ability to drive prices down? If you expect to have a large number of small customers, your price will remain relatively stable. However, if you plan on having a small number of very important customers, they maintain the power to dramatically impact your pricing and profitability.
• Threat of substitutes: how likely is it that somebody will forego your offering for a comparable substitute. If you’re a restaurant, for example, Amazon’s grocery delivery business would be a substitute, since people may decide to stay home and cook for themselves.

Competition

It’s just as important to discuss how your competition is navigating the industry you plan on dominating. With a strong idea of where your competition is positioned and the strategic decisions they are making you will be able to determine where your own business fits in.

To begin, discuss what your competition looks like. Are there many small businesses vying for the same customers or are you competing against a couple of whales? List your most important competitors and summarize them. Discuss their location, products, pricing, market share, and any important strategic decisions they have made. Use this information to create a list of their strengths and weaknesses.

After discussing the competition, it’s time to think about where you fit among them. SWOT Analysis is the perfect model to do just that.

SWOT Analysis

Here is what a complete SWOT Analysis looks like:

• Strengths:  Exactly as it sounds. What do you do best? What do you do that the competition absolutely cannot?
• Weaknesses:  Be honest. Are there any resources you lack? Any skillsets that are missing? What isn’t as efficient as it could be?
• Opportunities:  Improving any of your weaknesses is a major opportunity. In addition to that, consider internal or external factors that might change and present a new business opportunity. Finally, are there any complementary products or services that you could consider offering to your customers?
• Threats:  What potential is there for your business to be damaged? Are there any industry or economic trends? Could your competition change strategies and harm you? Do any obstacles to success stand in your way?

Once you have completed the SWOT analysis, wrap this section up by talking about your own competitive strategy. Given your industry, the competition, and your own SWOT analysis, what decisions are you making to position the company to succeed?

Readers of your business plan definitely need to know how you’ll be marketing and selling your product or service.There are going to be three key elements of your marketing plan.

Customer Segmentation

• Demographic information – age, gender.
• Psychographic profile – what do they care about? What motivates them? What do they value? Where do they get their information?
• Socioeconomic profile – income, lifestyle preference.

Describe your target audience in great detail. The more you know about your customer, the easier it will be to market to them.

Advertising and Promotion Plan

After building a strong customer profile of your target audience, you should know what your customer cares about. Think about how your business fits into that, and strategize how you’re going to market to them. Use their demographic and behavioral information to determine the most appropriate channels to focus on.

Your brand should seep into all aspects of your business – the website, advertisements, and even the tone of communications with customers. Whatever strategies you have for these elements, make sure to lay them out.

Finally, include your company logo and slogan, if they already exist. If not, you should begin to think about them and use the rest of this section as a guide.

Sales Distribution Plan

How exactly do you plan on getting your goods or services into somebody’s hands? Do you plan on hiring a sales staff or will you handle it all yourself initially? Do you plan on doing inbound or outbound sales? What does the sales process look at each step of the marketing funnel?

You’ll also need to think about and discuss pricing. Discuss your pricing strategy and why it’s a good value for your customers. If you are going low or moderately priced, discuss how you can stay profitable and remain differentiated from the competition. If you are a luxury brand, discuss why somebody will be willing to pay more for your business than the competition.

Lastly, consider distribution. Are you going to allow customers to purchase directly from you? Will they have to go through distributors? Do you have any retail partnerships to leverage? These are important decisions that have a profound impact on a business.

Organizational and Operational Plan

Production Process

Here are some ideas of what you’ll need to outline:

• Raw materials – how much do they cost? Do prices fluctuate? Is supply limited in quantity or how quickly it can be obtained in a pinch?
• What machines, technologies, etc., do you use for production? What costs are involved in these? Are you renting or do you own them?
• What is your estimated daily output?
• How easy is it to scale up or down as necessary? How does this impact the cost per unit?
• Which methods of quality control do you employ, both pre- and post-production?

If you’re a service business, you might not have any physical inventory, but your employees should be considered as your supply. After all, without them, you won’t be able to provide your services to your customers. What strategies do you have to recruit and retain the best talent possible? Can you scale quickly through recruiting and training, overtime, or an increase in part-time help?

You should also look back at your sales distribution plan and consider the logistics of shipping any physical products. How often will orders be fulfilled? Do you have the ability to rush orders if necessary? How will returns or incorrect shipments be handled in a way that keeps everybody happy?

Here are the components you must include in your business plan’s financial information:

Forecasted Sales

Use all of the marketing data you’ve put together to determine what a reasonable sales forecast looks like. Project your sales for a period of two or three years, going one month at a time. Include seasonality whenever applicable. As you forecast sales, include exactly how much revenue you expect to earn from those sales, and the total direct cost of those sales. You’ll be able to use these figures to determine revenue and gross margin, which you should use to compare to industry and competitive standards.

Projected Expenses

Fixed costs are going to stay the same whether you sell one widget or twenty. For example, rent, electricity, insurance, marketing costs, and payroll (with the exception of commission and bonuses), will mostly stay the same no matter what sales look like.

Variable costs, on the other hand, will vary by each unit sold. This includes the cost of materials, shipping, coupons, taxes, etc. Most of this should already be covered in your forecasted sales report, but make sure that nothing is overlooked.

Make sure to consider that as you scale, some fixed costs may become variable. As sales increase, you may have to hire more employees, or move into a bigger office. Keep this in mind by always referring back to your forecasted sales and estimating your business needs as best you can.

Balance Sheet

Everything comes together on your balance sheet. This includes your projected sales and expenses, but also deals with assets and liabilities.For example, if you take out a loan, you’ll need to include the capital in your assets and the repayments, including interest, in your liabilities. Non-monetary assets, such as the property and machinery must also be included.

You can find a sample balance sheet here .

Cash Flow Statement

Month by month, you’ll track exactly how much cash you expect to leave your hands and how much will come in. Keep in mind that not all sales are paid fully right away. Consider how many sales will be paid in full at the time of sale, how many will be paid in 30 days, 60 days, or go completely delinquent.

Once you have your cash flow statement completed, run some quick analysis. Compare your projected expenses each month to the projected cash coming in each month. For any months that project to have a negative cash flow, ensure you have enough money on hand to cover the difference.

You may find two examples of completed cash flow statements here and here .

Customer Lifetime Value

Customer Lifetime Value is an estimate of exactly how much each customer you acquire will be worth total. A simple way to calculate this is by determining how many purchases a customer makes before churning, and multiplying it by the average amount of their purchase. In other words, how many purchases will they make before moving on from your business, and how much will those purchases be worth?

Let’s take a look at a real-world example. Let’s assume you’re running an oil change business, and you know your average customer gets three oil changes per year. With premium options and add-ons, your average sale is $38.50. Each customer spends an average of three years with you before churning (perhaps they have moved away or found another service they prefer).

In this example, your expected CLV would be $346.50. You know each average customer will make 3 purchases per year, for 3 years, at $38.50 each. 3 x 3 x $38.50 = $346.50, which is your CLV.

Why is CLV so important? Let’s take a look at unit economics.

Unit Economics

The formula for cost of acquisition is simple. Divide your total marketing spend by the number of customers you have acquired through all marketing channels. If you spend $25,000 across all marketing channels and acquire 1,000 customers, your average cost per acquisition is $25.00.

Tracking your marketing expenses isn’t the tricky part. Attributing each user to a specific campaign, however, can be. If somebody walks into your store after seeing a TV ad, for example, it can be hard to properly attribute them. Digital campaigns are a bit easier, as there are typically tracking links that make everything easy to calculate. You’ll have to do your due diligence and make your best-educated guesses here, using industry standards whenever necessary and possible.

You should also take the time to break out your unit economics into each marketing channel. This allows you to track which channels are performing well and which ones aren’t. If Facebook is attracting lots of customers but you’re spending so much that your cost of acquisition is higher than expected CLV, you might actually need to stop spending money there.

It’s important to be very clear about exactly how your business has been funded so far. This includes what you have received through investments, series rounds, or personal loans. You will also need to mention any personal funds that you have put into the business, and how much you have saved that you are willing to put into it in the future.

Once you have discussed the funding your business has received, it is appropriate to lay out exactly how much you’ll need. Make sure to also discuss exactly what any loans or investments will be used for and how that spending will be tracked.

Business Plan Resources

Business plan samples.

To reinforce everything we’ve discussed above, let’s take a look at some sample business plans that have already been put together for your review. We’ll discuss some key takeaways from each plan, helping you consider how your business is unique and what you’ll need to emphasize.

Coffee Shop Business Plan

A coffee shop is a nice, simple business to start our samples with. A coffee shop requires a small storefront, and the location is critical. Most people will gladly stop in for a nice cup of coffee but are unlikely to drive miles out of their way for one. Notice that because of this, the sales forecast is relatively stagnant, even after several years.

Click here for the sample business plan.

Restaurant Business Plan

A restaurant business plan will be similar to a coffee shop, but is a little more involved. Start-up costs are higher as it requires a larger storefront and a larger variety of equipment. Variable costs are higher as a quality meal costs much more than a cup of coffee. The sales forecast shows more growth, as people are more willing to travel for a good meal than they are a simple cup of coffee.

Food Truck Business Plan

Let’s consider a third food-based business to really drive home how businesses that appear similar will have important differences. Food trucks have a much different fixed cost structure than a coffee shop or restaurant, as they don’t have a physical location. Seasonality and location will have a huge impact on salespeople won’t want to stand outside for a burrito when it’s cold and snowy outside. With a much smaller staff, a food truck is also more likely to be open for lunch only, or closed a couple days per week.

Startup Business Plan

It’s good to take a look at a general startup business plan to get an idea of how to estimate costs, sales, etc. This sample plan is a take-out pizza joint. Notice that trends are important, as the business plan notes their market is a growing area and they are aiming to fill a niche for low to middle-income families, which comprise the majority of residents in their service area. They use a mixture of studies and geographic data to make conservative estimates, giving potential investors confidence that the business can be profitable if the strategies are successfully executed.

Photography Business Plan

A photography business is a great example of a company that is minimal to the extreme. Mostly, you will be relying on your own skills and experience. Minus initial equipment and the cost of your own time, expenses are minimal. Still, you see that it’s important to have a strong plan in place so that you understand how to position your services and who exactly you’re aiming to serve.

Business Plan Tools

Here are a variety of tools that make both writing a business plan and getting your business off the ground much easier:

If you want to quickly build your idea into a business plan to validate its value or just to get started, LivePlan is perfect. The business planning process is made simple, as you simply need to answer questions and are given plenty of examples, videos, and tutorials along the way. You can even use LivePlan to collaborate with partners or investors, testing ideas on the fly and seeing its impact on your business’ health.

Click here to take a look at LivePlan.

Rocket Lawyer

When you’re starting a business, it’s extremely likely you’ll need quick legal help. You might need advice on licensing, permits, or zoning. Or perhaps you want to discuss how to structure your business as an LLC. Rocket Lawyer can help. You’ll have access to their services for a monthly fee that’s less than a cup of coffee each day. There’s an even option to help incorporate your business by filling out a couple of quick forms.

Click here to take a look at Rocket Lawyer.

Like LivePlan, StratPad offers a cloud-based chance to build your business plan and strategy on the fly. StratPad offers a demo for their services and if you’re looking for funding will even match you up automatically with a financial institution that makes sense for your business. Our suggestion is to take a look at both LivePlan and StratPad and select the one that you like best.

Click here to take a look at StratPad.

If you’re looking for a simple way to create a professional business plan without all the bells and whistles, BizPlan is perfect for you. You’ll be able to create a stylish, professional business plan using intuitive drag-and-drop templates. Financials are easy to create using a user-friendly dashboard.

Click here to take a look at BizPlan.

A typo can derail your business plan and make you look sloppy and unprepared, no matter how much effort you put into it. Grammarly is a world-class spell checker that also checks for many of the most common grammatical error for free. There’s even a browser-based version that you can use no matter where you are. For a fee, you can subscribe to Grammarly Premium, which provides an even more granular check.

Click here to take a look at Grammarly.

Business Plan Templates

Now that we have an idea of everything you need to include in your business plan and which tools you’ll need to get started, it’s time to get started. Here are some websites with sample business plan templates you may use to make writing the perfect business plan a bit easier:

• Score.org has a variety of business plan and financial statement templates, including ones for both start-ups and established businesses.
• Microsoft Office’s website has many valuable business plan templates, including a checklist and PowerPoint Presentation templates for pitching your business plan.
• The S. Small Business Administration allows you to create a business plan with a free account that you can download and distribute as a PDF.
• Santa Clara University provides a 15-section business plan that can be downloaded one section at a time or all at once.
• Law Depot offers a business plan template tailored for you. Simply answer some quick questions and your template is instantly ready to download.

How to Write a Business Plan Conclusion

In the end, a business plan is a highly unique and personalized document. A business plan that is right for your business won’t be right for any other business in the world. By closely following the outline and strategies above, however, you’ll have a great base to begin crafting your own perfect business plan.

Bibliography:

• Berry, T. 15 Reasons You Need a Business Plan. Entrepreneur. Retrieved from https://www.entrepreneur.com/article/83818.
• CBM Group. What Is The Right Tone And Writing Style For A Business Plan? Retrieved from http://www.cbmgroup.co.uk/blog/business-plan-writing/what-is-the-right-tone-and-writing-style-for-a-business-plan.
• Discover Business. How to Write a Business Plan. Retrieved from https://www.discoverbusiness.us/business-plans/.
• Fontinelle, A.How To Write A Business Plan. Investopedia. Retrieved from http://www.investopedia.com/university/business-plan/.
• Franklin, B. The Three General Types of Business Plans. Business Power Tools. Retrieved from http://www.businesspowertools.com/2016/06/management-2/the-three-general-types-of-business-plans/.
• Gregory, A. Comprehensive Business Plan Outline for Small Business. The Balance. Retrieved from https://www.thebalance.com/a-comprehensive-business-plan-outline-for-small-business-2951557.
• Gregory, A. How to Conduct a SWOT Analysis for Your Small Business. The Balance. Retrieved from https://www.thebalance.com/swot-analysis-for-small-business-2951706.
• Hazlett, M. Basics of Unit Economics. Medium. Retrieved from https://medium.com/@markhazlett/basic-of-unit-economics-79f1d6cae085.
• Investopedia. Porter’s 5 Forces. Retrieved from http://www.investopedia.com/terms/p/porter.asp.
• Johnson, J. How to Write a Cover Letter for a Business Plan. Small Business Chronicle. Retrieved from http://smallbusiness.chron.com/write-cover-letter-business-plan-43209.html.
• Katz, A. Determining the Best Legal Structure for Your Business. Entrepreneur. Retrieved from https://www.entrepreneur.com/article/236450.
• Kolowich, A. How to Write a Business Plan: A Bookmarkable Guide (With Examples). HubSpot. Retrieved from https://blog.hubspot.com/marketing/how-to-write-a-business-plan.
• Lavinsky, D. Marketing Plan Template: Exactly What To Include. Forbes. Retrieved from https://www.forbes.com/sites/davelavinsky/2013/09/30/marketing-plan-template-exactly-what-to-include/#1ddaeeb43503.
• My Own Business Institute. Session 2: The Business Plan. Retrieved from https://www.scu.edu/mobi/business-courses/starting-a-business/session-2-the-business-plan/.
• Parsons, N. How to Write a Business Plan [Updated for 2017]. Bplans. Retrieved from http://articles.bplans.com/how-to-write-a-business-plan/.
• PESTLE Analysis. What is PESTLE Analysis? A Tool for Business Analysis. Retrieved from http://pestleanalysis.com/what-is-pestle-analysis/,
• Robbins, S. Why You Must Have a Business Plan. Entrepreneur. Retrieved from https://www.entrepreneur.com/article/74194.
• Ronick, D. 10 Business Plan Dos and Don’ts. Inc. Retrieved from https://www.inc.com/articles/201104/business-plan-dos-and-donts.html.
• Ronick, D. 10 Things A Business Pitch Absolutely Does (And Does Not) Need. Business Insider. Retrieved from http://www.businessinsider.com/10-survival-tactics-for-a-successful-business-plan-pitch-2011-4/.
• Shopify. The Ultimate Guide to Business Plans, Chapter 3: The Company. Retrieved from https://www.shopify.com/guides/businessplan/the-company.
• Wasserman, E. How to Write the Financial Section of a Business Plan. Inc. Retrieved from https://www.inc.com/guides/business-plan-financial-section.html

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Topic: Entrepreneurship & Business Plan Guide — Business Plan (How to & Samples)

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What is a Business Plan?

A business plan is "a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals."--Tim Berry from Bplans site.

• An Introduction to Business Plans Introduction to a tutorial on business plans written by the staff at Entrepreneur magazine.
• Business Planning Guide Step-by-Step guide to write a Business Plan by Bplans site.
• Create Your Business Plan, from the U.S. Small Business Administration (SBA) The SBA has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.

What is included in a Business Plan?

The following components make up a business plan:

Table of Contents

Executive Summary : Appears first, written last. Provides a snapshot of your company explaining who you are, what you do, and why.

Mission & Vision: Here you define the purpose of your business (Mission) and a statement about your perception of the company's growth and potential (Vision). Include specific goals and objectives of the business

Business Description: Provide background information about the company including brief history of the business and list of key company principals.

Define Your Market: Describe the industry within which your business will operate, identify your target market, provide a general profile of your targeted clients, and describe what share of the market your currently have and/or anticipate. For this section of the business plan, your will undertake following types of research:

Industry Analysis : how is the industry structured, trends and statistics, key players, segmentation, sales and distribution channels etc.

Competitive Analysis : major competitors, strengths and weaknesses, how would you position yourself against the competition, market niche, product/service comparison

Customers: who are the customers (demographic data), what do they want, customer buying habits, market share/market size, consumer preferences

Advertising and Promotion : How will you reach out to potential customers? Where do they currently shop for product/service? Where will you advertise and how will you measure the effectiveness of your advertising and promotion efforts?

Pricing : strategy, policies, price list, break-even analysis

Location : Where is your business located? (home-based; retail; commercial, etc….), is the location of your business important? Any special zoning, land or building improvements needed to accommodate your operation? If location is important, what are the features of your location?

Products & Services:   Describe all your products and services; explain how your products and services are competitive including unique features, benefits of the product or service, niche served, stage of product/service development, production, future growth.

Organization & Management: Describe how your company is organized including legal structure(sole proprietorship, partnership, corporation etc); identify any special licenses and/or permists your business operates with; provide brief bio of key managers within the company; include an organization chart if available.

Marketing & Sales Strategy: Identify and describe your maket -- who are your customers and what's the demand for your products and services; channels of dsitribution you will use; your sales strategy specific to pricing, promotion, products, and place.

Financial Management:

For new business include: estimate of start-up costs (all one-time expenses such as equipment, deposits, fees, etc.); projected balance sheet, income statement, cash flow statement (1 year forward)

For existing business include: balance sheets (last 3 years), income statements (last 3 years), cash flow statements (12 months)

If applying for a loan: current personal financial statement on each principal; federal tax return for prior year

Appendices: This section may include company brochures, resumes of key employees, list of business equipment, copies of press articles and advertisements (if available), pictures of your business location and products, any applicable information about your industry and /or products, key business agreements such as lease, contracts etc.  

(Adapted from: SBA's Business Plan Template )

Finding Sample Business Plans

• Business Plans Handbook/ Lynn M. Pearce, ed. Vol 13. Includes sample plans on numerous topics such as advertising, fitness center, landscaping, and technology solutions provider and more.
• Business Plans Handbook/ Lynn M. Pearce, ed. Vol. 19. Includes business plans for assisted living facility, auto dealing, bowling alley, commodities trading firm, digital presentations, farm, furniture store, gas station, laundry mat, web design, and more.
• Business Plans Handbook (via Reference for Business) Earlier volumes of the Business Plans Handbook are available at the above sites for free.
• BPlans.com Includes samples of business plans as well as advice and tips on writing a business plan, starting and running a business.

Why You Need a Business Plan?

You need a business plan:

• To see if you have a viable business idea
• To identify your (and your company's) strengths and weaknesses
• To assess the market for your product or service
• To size up the competition
• To determine your financial needs
• To attract investors
• To set up milestones and monitor your business
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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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What Happens to Biden’s Student Loan Repayment Plan Now?

More than eight million borrowers are enrolled in the income-driven plan known as SAVE. The Education Department is assessing the rulings.

By Tara Siegel Bernard

President Biden’s new student loan repayment plan was hobbled on Monday after two federal judges in Kansas and Missouri issued separate rulings that temporarily blocked some of the plan’s benefits, leaving questions about its fate.

The preliminary injunctions, which suspend parts of the program known as SAVE, leave millions of borrowers in limbo until lawsuits filed by two groups of Republican-led states challenging the legality of the plan are decided.

That means the Biden administration cannot reduce borrowers’ monthly bills by as much as half starting July 1, as had been scheduled, and it must pause debt forgiveness to SAVE enrollees. The administration has canceled $5.5 billion in debt for more than 414,000 borrowers through the plan, which opened in August.

If you’re among the eight million borrowers making payments through SAVE — the Saving on a Valuable Education plan — you probably have many questions. Here’s what we know so far, though the Education Department has yet to release its official guidance.

Let’s back up for a minute. What does SAVE do?

Like the income-driven repayment plans that came before it, the SAVE program ties borrowers’ monthly payments to their income and household size. After payments are made for a certain period of years, generally 20 or 25, any remaining debt is canceled.

But the SAVE plan — which replaced the Revised Pay as You Earn program, or REPAYE — is more generous than its predecessor plans in several ways.

Ask us your questions about the SAVE student loan repayment plan.

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Judges temporarily halt part of President Biden's student debt forgiveness plan

The Associated Press

President Biden speaks at an event about canceling student debt, at the Madison Area Technical College Truax campus, April 8, 2024, in Madison, Wis. Kayla Wolf/AP hide caption

TOPEKA, Kan. — Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers.

The judges’ rulings prevent the U.S. Department of Education from helping many of the intended borrowers ease their loan repayment burdens going forward under a rule set to go into effect July 1. The decisions do not cancel assistance already provided to borrowers.

In Kansas, U.S. District Judge Daniel Crabtree ruled in a lawsuit filed by the state’s attorney general, Kris Kobach, on behalf of his state and 10 others. In his ruling, Crabtree allowed parts of the program that allow students who borrowed $12,000 or less to have the rest of their loans forgiven if they make 10 years’ worth of payments, instead of the standard 25.

But Crabtree said that the Department of Education won’t be allowed to implement parts of the program meant to help students who had larger loans and could have their monthly payments lowered and their required payment period reduced from 25 years to 20 years.

In Missouri, U.S. District Judge John Ross’ order applies to different parts of the program than Crabtree’s. His order says that the U.S. Department of Education cannot forgive loan balances going forward. He said the department still could lower monthly payments.

3 things you need to know about student loans this summer

Ross issued a ruling in a lawsuit filed by Missouri Attorney General Andrew Bailey on behalf of his state and six others.

Together, the two rulings, each by a judge appointed by former President Barack Obama, a Democrat, appeared to greatly limit the scope of the Biden administration’s efforts to help borrowers after the U.S. Supreme Court last year rejected the Democratic president’s first attempt at a forgiveness plan. Both judges said Education Secretary Miguel Cardona exceeded the authority granted by Congress in laws dealing with students loans.

Bailey and Kobach each hailed the decision from their state's judge as a major legal victory against the Biden administration and argue, as many Republicans do, that forgiving some students' loans shifts the cost of repaying them to taxpayers.

“Only Congress has the power of the purse, not the President,” Bailey said in a statement. "Today’s ruling was a huge win for the rule of law, and for every American who Joe Biden was about to force to pay off someone else’s debt.”

The White House said it strongly disagrees with the judges’ rulings and would continue to defend the program, and use every available tool to give relief to students and borrowers.

In a statement, White House press secretary Karine Jean-Pierre said the Biden administration “will never stop fighting for students and borrowers — no matter how many roadblocks Republican elected officials and special interests put in our way.”

In a statement posted on the social media platform X, leaders of the Student Borrower Protection Center, which advocates for eliminating student debt, called the decisions “partisan lawfare” and “a recipe for chaos across the student loan system.”

“Millions of borrowers are now in limbo as they struggle to make sense of their rights under the law and the information being provided by the government and their student loan companies,” said the group’s executive director, Mike Pierce.

In both lawsuits, the suing states sought to invalidate the entire program, which the Biden administration first made available to borrowers in July 2023, and at least 150,000 have had their loans canceled. But the judges noted that the lawsuits weren't filed until late March in Kansas and early April in Missouri.

“So the court doesn’t see how plaintiffs can complain of irreparable harm from them,” Crabtree wrote in his opinion.

Both orders are preliminary, meaning the injunctions imposed by the judges would remain in effect through a trial of the separate lawsuits. However, to issue a temporary order each judge had to conclude that the states were likely to prevail in a trial.

Kobach framed the Biden plan as “unconstitutional” and an affront to “blue collar Kansas workers who didn’t go to college."

There was some irony in Crabtree's decision: Kansas is no longer a party to the lawsuit Kobach filed. Earlier this month, Crabtree ruled that Kansas and seven other states in the lawsuit — Alabama, Idaho, Iowa, Lousiana, Montana, Nebraska and Utah — couldn't show that they'd been harmed by the new program and dismissed them as plaintiffs.

That left Alaska, South Carolina and Texas, and Crabtree said they could sue because each has a state agency that services student loans.

But Crabtree said that lowering monthly payments and shortening the period of required payments to earn loan forgiveness “overreach any generosity Congress has authorized before.”

In the Missouri ruling, Ross said repayment schedules and “are well within the wheelhouse” of the department but the “plain text” of U.S. law doesn’t give it authority to forgive loans before 25 years of payments.

Missouri also has an agency that services student loans. The other states in its lawsuit are Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma.

• student loans
• student loan debt

Student-loan borrowers who were set to get debt cancellation or lower payments through Biden's new repayment plan won't get it — for now. Here's what you need to know.

• Two federal judges blocked parts of the SAVE income-driven, student-loan repayment plan on Monday.
• The rulings mean that student-loan forgiveness and lower payments set to begin in July cannot move forward.
• The Justice Department is appealing the rulings, and the courts have yet to make final decisions. 

Legal challenges against President Joe Biden's student-debt relief efforts are back — and the latest rulings are bad news for his new repayment plan.

On Monday evening, district courts in Kansas and Missouri handed down rulings blocking parts of the new SAVE income-driven repayment plan , first introduced last summer with the goal of giving borrowers more affordable payments and a shorter timeline for loan forgiveness.

The first lawsuit was filed in March in Kansas by 11 GOP state attorneys general, and the second was filed in April in Missouri by seven GOP state attorneys general. In both cases, the plaintiffs requested that the courts block the SAVE plan and the loan forgiveness that comes with it, arguing that the relief is beyond the administration's authority.

Monday's district court rulings were different, but both dealt blows to the SAVE plan. Kansas Judge Daniel Crabtree ruled that new provisions through SAVE set to go into effect July 1, like lower monthly payments, cannot be implemented as the legal process progresses. Missouri Judge John Ross ruled that the plan's provision to cancel student debt for borrowers with original balances of $12,000 or lower who made as few as 10 years of qualifying is now blocked, as well.

Education Secretary Miguel Cardona condemned the rulings on Monday, saying in a statement that "the Department of Justice will continue to vigorously defend the SAVE Plan."

"Republican elected officials and special interests sued to block their own constituents from being able to benefit from this plan – even though the Department has relied on the authority under the Higher Education Act three times over the last 30 years to implement income-driven repayment plans," Cardona said.

"While we continue to review these rulings, the SAVE plan still means lower monthly payments for millions of borrowers - including more than 4 million borrowers who owe no payments at all, and protections for borrowers facing runaway interest when they are making their monthly payments," he added.

Related stories

Here's what borrowers should know about the rulings.

First ruling: No new payment reforms

Student-loan borrowers who have already enrolled in SAVE can continue making the payments the plan calculated for them. However, the new provisions set to go into effect July 1 — including cutting undergraduate borrowers' payments in half and forgiveness credit for period of deferment of forbearance — are halted.

Here's why: Kansas' Crabtree ruled , in part, in favor of the attorneys general, and he explained in his ruling that the SAVE plan's monthly payment cap and shortening of the payment period for forgiveness "overreach any generosity Congress has authorized before."

However, Crabtree ruled to preserve the provisions of SAVE that have already gone into effect because the plaintiffs failed to adequately show how they suffered harm from parts of the plan already in place. For example, the Education Department outlined in June 2023 its intention to cap monthly payments and announced the shorter timeline to forgiveness a month in advance, leaving the attorneys general with time to challenge the plan earlier.

"All of this is to ask why: if these parts of the SAVE Plan promised an irreparable harm to plaintiffs, why didn't they move to enjoin the SAVE Plan before they took effect?" Crabtree wrote.

However, with regards to the new SAVE provisions set to go into effect July 1, Crabtree ruled that the plaintiffs succeeded in showing harm because there was no delay in challenging the plan's unimplemented provisions, and any forthcoming relief would be irreversible.

So rather than reversing or altering any of the provisions through SAVE already implemented, Crabtree decided to halt any new measures that have yet to be implemented until the court makes a final decision.

Second ruling: No student-loan forgiveness

While thousands of borrowers have already received student-loan forgiveness through the SAVE provision, which cancels debt for borrowers with original balances of $12,000 or less, no more borrowers will be able to partake in that relief for now.

Missouri's Ross handed down a different ruling regarding SAVE. He first said that Missouri's argument that the plan would harm student-loan company MOHELA — based in Missouri — due to lost revenue has standing, given it was the same conclusion the Supreme Court reached when it struck down Biden's first attempt at broad debt relief last summer.

With regards to the fate of SAVE, Ross decided that while already implemented provisions of SAVE can remain, any future student-loan forgiveness through the plan is blocked. He wrote that Congress did not account for the scale of loan forgiveness under SAVE, and as a result, the attorneys general have "a 'fair chance' of success on the merits on their claim that the Secretary has overstepped its authority by promulgating a loan forgiveness provision as part of the SAVE program."

He also said that even without allowing student-loan forgiveness, the other provisions, like lower payments and limited interest accrual, will still provide relief to borrowers. Since the attorneys general did not adequately argue why the other provisions should be blocked, Crabtree said he would only place a preliminary injunction on the debt cancellation.

Cardona said on Tuesday that the Justice Department will appeal the rulings.

White House Press Secretary Karine Jean-Pierre said in a statement that the Education Department will "continue to enroll more Americans in SAVE and help more students and borrowers access the benefits of the plan that remain available, including $0 payments for anyone making $16 an hour or less, lower monthly payments for millions more borrowers, and protecting borrowers from runaway interest if they are making their monthly payments."

Watch: Why student loans aren't canceled, and what Biden's going to do about it

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