The common belief is that you’ll need significant capital and business know-how to start a part-time venture. This, however, is a fallacy.
Several major corporations, such as Facebook, Google, and Virgin, were started by young people with very little capital, limited time, or business expertise. For those willing to spend some time learning, the internet provides many opportunities to start a very lucrative side hustle.
So, let’s take a look at some ideas to help you on your journey to success.
Specialized Trading – New and Used Items
Many websites offer amazing student deals on several different products. This provides the perfect opportunity to buy sought after items, at up to 50 percent discount, to resell to your campus mates for a profit.
Trading used products is a bit trickier. First, there’s the question of ethics, but it shouldn’t be a problem if you don’t have an issue with it. Second, it’s essential to keep track of which things people are looking for. If something’s in demand, folks are usually willing to pay a reasonable price for it.
The goal is to buy limited items that are no longer commercially available at a low price and reselling them for a decent profit.
Online Trading With eBay
By correctly using online marketplaces such as eBay, you can build a sizable enterprise. Be careful not to be overzealous, though. It’s essential to start with a few small items and grow your business over time.
This form of trading works best if you delve into a niche market. That’ll enable you to develop a good reputation with repeat clientele based on confidence, which typically results in growth through word of mouth. It does, however, take time, so be patient and don’t rush it.
It’s vital to keep an eye on your gross margins and to pack and ship carefully. Most important of all is to avoid any counterfeit items and those that are of questionable quality.
Buy and Sell Used Textbooks
All of us know how expensive textbooks are, and for many people saving money on this isn’t an option.
Students have piles of books that either end up among the trash or are sold to help pay for the next term’s modules at the end of every semester. So, offer to help them solve their problem by taking them off of their hands or buying them from them at a low price.
When the academic year starts, sell the used books to the current students for a profit, but for significantly less than they would pay for new ones. It shouldn’t take you too long to sell out.
Use Your Time Wisely
There are countless part-time businesses that you can start that won’t take up too much of your time or interfere with your studies. The nice thing about trading, whether you choose to sell specialized items, books, or do so online, is that it’s low maintenance and doesn’t need much capital.
Whatever you choose to do, it’s essential to realize that the experience you gain from doing so will help shape your future.