Generating $5,000 a month while studying full-time at a university may seem like an impossible task. I am here to tell you that not only is it possible, but it’s starting to become the norm for College Entrepreneurs. There are several ways to start generating thousands of dollars a month while in college. Below we have listed ten ways college students can make $5,000 A Month.
I know you’ve seen the horrible Youtube & Facebook Ads showing someone ranting about their Lamborgini or Ferrari they bought from starting a dropshipping business. Although most of those dropshipping influencers embellish their story a little bit, dropshipping can be a lucrative side-hustle.
What is dropshipping?
Dropshipping is a retail business model where the wholesaler ships the product directly to your customer. This business model is very attractive because you don’t pay for a product until you’ve already made a sale. You don’t need to worry about renting a warehouse, inventory, or shipping. This is the perfect business model for college students because of the low-start cost.
This oversimplified process of dropshipping
- Set-up Shopify Store
- Import Products
- Advertise your products via social media
- Customer pays for a product
- You forward the order to your supplier
- Your supplier ships the product
- Email customers tracking numbers
- Fix any problems along the way
Without having to worry about logistics, the college student can focus on marketing and customer service.
One of our writers Tyler recently generated over $11,000 his first-month drop shipping, so the business model really works.
Facebook/ Instagram Ad Agency
Learning how to advertise via social media is one of the most valuable skills you can learn as a College Entrepreneur. (Social Media
Business owners will gladly pay $1,000-$ 2,000 a month for you to create Facebook and Instagram Ads. Growing up with social media has given you an advantage over older generations because you naturally know your way around Facebook and Instagram.
Learning how-to run profitable ads on Facebook and Instagram is a bit of a challenge at first, once you’ve built the skill you can apply it to almost any business and make money.
What is a Facebook/Instagram Ad Agency?
An ad agency is when clients pay a monthly retainer fee ($1,000 – $2,000) to run Facebook and Instagram ads for their business. Since Facebook has over 2 billion monthly active users, almost any business can leverage the power of Facebook Ads.
10 Of The Best Businesses That Need Your Help Running Facebook Ads
- Real Estate
- Personal Trainers
- Shopify Stores
- Financial Service Firms
Instagram Meme Page Operator
Instagram Meme Page Operator is a business model that many people don’t know exists but is generating thousands of dollars a month. Operating a meme page can be very lucrative because business owners will pay you hundreds or even thousands of dollars to post a picture and a caption. This is a great business model for people who don’t enjoy being in front of a camera but want to take advantage of Instagram’s profitable business model.
What Is A Meme Page Operator?
When a person creates or buys an Instagram Page and post funny, relatable, or sarcastic content around a specific niche. If that page has more than 500k followers, they can start charging hundreds or thousands of dollars depending on the follower count and engagement rate.
Last month alone, we paid close to $5,000 to Instagram Influencers to promote our products on their page. (Picture of order metrics dashboard)
Amazon FBA Seller
Amazon has grown into a powerhouse over the last 20 years, becoming the second company to be valued at TRILLION dollars.
Whether its books, school supplies, electronics, or a novelty item you’ve spent money on Amazon. As a college student, you are often on the receiving end of the deal.
Why not start selling your products, Amazon?
Selling products on Amazon can be a lucrative business for college students because you can start and build your business directly from your laptop.
What is an Amazon FBA?
Amazon FBA means Fulfillment by Amazon.
Below I have outlined the entire process:
- You order a 1,000 units of a product for 7 cents/ each
- You send your product to Amazon
- They store your product in one of their warehouses
- When customer purchases (for $20-$50), they pack, ship, and track for you (they handle all the logistics)
- FBA Products are Prime so that the customer will receive the product in two days.
- They also handle refunds and returns for your products.
Of course, Amazon charges a fee, but its reasonable considering that they handle all the logistics and their customer support system will help you with roadblock throughout your journey.
Most sellers source their product china which may cost less than a dollar, ship to an Amazon warehouse, and sell the product for $20-$50 dollars.
Affiliate Marketing is one of the most profitable businesses on this list, but it’s the most time-consuming during the start-up stage. This business model is perfect for college students because of the low start-up cost and flexibility.
What is Affiliate Marketing
Affiliate marketing is advertising someone else’s product and when someone purchases from your link, you get a commission.
Promoting products on a blog, vlog, or podcast can generate you a lot of money once you’ve built up a large following. The good thing about affiliate marketing is that you don’t need to worry about logistics, customer support, product cost, or paid advertising. Without those four expenses, your profit margins will be 50%-90% which is insane.
Create Websites, Leadpages, & Sales Funnels
Creating website sites, lead pages, and sales funnels for small businesses can make a ton of money in college. Most people think that you need to learn code to create a website and that’s false. There are thousands of templates to get you to started.
Most premium themes (themes are paid) have a support system to guide you along the process.
What are Leadpages & Sales Funnels
I’m going to assume you know what a website is, but what about a lead page or a sales funnel.
A lead page is a one-page website that forces visitors to choose between giving you their email or exiting the website page.
Why would someone give you their email? (That’s the million-dollar question)
For someone to give you their email, you need to give them something in return. Whether it’s a 20% off coupon for your Shopify Store or a Facebook Ads cheatsheet, it has to be something the visitor would want.
A sales funnel a step-by-step process that takes a potential customer (lead) and turns them into a customer through videos, emails sequences, articles. The best part about a sales funnel is that it can be automated. First, you set up a lead page and an email sequence that turns the lead to a buyer, and then to a consistent buyer.
If you can become profitable at any of the businesses listed above, then you can teach others how-to-do-it for a fee. E-courses are a big moneymaker if you can provide value-able information that can help the person generate more than what they paid for the course. I’ve spent over $1,000 for one course, but the knowledge helped us 10x our investment. Creating E-courses as a secondary source of passive income can be lucrative.