What is the best business to start near a university? Here are the best business ideas for a college town.
Asides from being a clustered academic community, college towns also offer business opportunities for interested investors. However, identifying such opportunities can be quite difficult for persons who are new to the business.
If you live within or near a college town and wonder what business idea is available to carry out, this article will be of immense help.
One thing that college towns are known for is the influx of new students every new academic session. These replace the outgoing or graduating student population. So, how is this important to business?
It is in the sense that there’s always a market to cater to.
Here, we’ll be listing and briefly discussing the different business ideas for college towns to try out.
There’s never a Shortage of Business Ideas if you know where to Look
The seeming scarcity of business ideas isn’t even close to reality. In other words, lots of college town business ideas exist if only you will think.
Such thinking includes focusing on problems.
In general, you only need to provide solutions to problems to make meaningful growth. This is what businesses are about.
Every business you find within a college town or any place else was brought about by an idea. Such an idea was solely focused on meeting a need or solving a problem. That is exactly what we’re after.
The ideas supplied below are just a few of many that can be implemented.
Lucrative College Town Business Ideas
So, you want to establish a thriving business in a college town?
The right kind of idea could work if you put in the work. Here, it’s clear that an idea alone won’t work as long as the work isn’t put in to guarantee results.
Business ideas to try out in a college town include; a bike or car rental service.
Others include a membership-based library, a supermarket, gifts & accessories store, coffee shop, clothes & accessories, perfume & cologne sales, bakery, sports center & bar, as well as a co-working space.
Others include a moving business, book store, music & video sales, hair& beauty salon, as well as fitness center.
You can also establish a laundry & dry cleaning business, dorm room cleaning services, as well as furniture rental. What more?
Business ideas such as T-shirt printing, repair of mobile devices & laptops, as well as Yoga classes could prove profitable.
Bike or Car Rental Service
A rental service for bikes or cars is likely to be profitable due to the added convenience they bring. People don’t need to own a car to get the convenience offered by an automobile.
While this idea sounds impressive, it’s important to carry out feasibility studies to know whether such a business will be profitable.
Libraries are a necessity for college towns.
Apart from those made available by the institution, you can invest in a membership-based library while stocking them with all the latest books.
This requires a significant amount of investment on your part.
People need to frequently purchase groceries.
Having supermarkets within college towns help considerably with convenient shopping. Shoppers don’t need to travel long distances to make their grocery purchases.
Knowing what’s involved is also crucial as you’ll need to successfully launch and operate your business while surmounting common problems.
Gifts & Accessories Store
Gifts & accessories stores in college towns are vital as people go about their shopping needs.
The more the variety, the better it gets. As always, a lot of planning is required to increase your chances of success.
Relaxation spots like coffee cafés are among business ideas for college towns.
People come around to wind down and enjoy a cup of coffee around such locations. You might want to include a restaurant or sale of other beverages depending on the need of your market.
Clothes & Accessories
Clothing and other accessories are among products that sell fast in college towns. You might want to open a boutique or a shop for used items.
Different college communities have unique needs. You might want to find out what applies to your location.
Perfume & Cologne Sales
Perfumes and colognes are a few of many consumer goods that sell fast.
A college town is a fertile ground for selling such grooming products. You’ll first want to understand what perfume and cologne collections will sell the most.
Freshly baked products are needed every day around college towns. With this understanding, you could start a bakery business with the hope of making a ton of profits when marketed properly.
Your baked goods must be really good to keep the orders coming.
Sports Center & Bar
People need to wind down from the rigors of academic work.
This is where a sports center and bar come into play. This business idea can be implemented within college towns with the hope of earning appreciable profits.
Collaborative work within a shared office space has become increasingly popular in recent years. This is also a popular business idea within college towns.
Here, all the amenities found in a traditional office are made available. Under this arrangement, people can easily rent spaces.
Have you ever considered starting a moving business?
This is one business idea that can be considered for a college town. As people move in and out, your business helps with convenient and stress-free movement.
Of course, luggage is moved carefully to prevent damage.
Opening a bookstore within a college town is an excellent business idea that could prove profitable. Here, a great deal of research is needed to pick the right type of books for sale.
Hair & Beauty Salon
Hair and beauty salons within college towns witness a lot of patronages. By strategically locating yours, you’re increasing your chance of making significant sales.
Are you a fitness expert? Consider starting a fitness center within a college town. Due to the mostly young population, within such towns, most young people will want to keep fit.
Now that you’ve read through some great business ideas to try out in college towns, what remains is implementation. Finding your most preferred business idea doesn’t automatically translate to success.
A great deal of work is needed to succeed.