Being a recent college graduate in the current state of the world can be very intimidating. The COVID-19 pandemic has hit the United States especially hard, and it’s continuing to devastate the health and livelihoods of Americans today. As a college grad looking for work during the current state of the economy, you may feel like you have to settle for a job where you’re making less than what you’re worth, but this doesn’t have to be the case. Here are some potentially lucrative ideas to spark your entrepreneurial imagination as a college grad.
1. Take part in the gig economy.
The gig economy is growing in popularity in the United States, especially among young people. There are many opportunities available in freelancing and independent contracting. According to Business News Daily, 15.8% of American workers participate in alternative employment. As a recent college grad, the gig economy can be quite beneficial. It gives young people the freedom and flexibility of being their own boss, and it also allows them to form as many streams of income as they’d like.
Independent contracting applies to many different types of industries. Today, service jobs like Uber, Postmates, and Instacart are extremely common independent contracting gigs. With these jobs, you pick your own schedule so you can work as much or as little as you want. It’s an easy way to make extra money on the side, but some people are able to use them as their main source of income.
Freelancing can be a totally different ballgame because, with hard work, you can even become a freelance business owner. For example, if you’re a freelance writer you’ll start by seeking out work and clients on job boards or freelance service sites. As you grow your portfolio of work, you’ll find yourself making connections and gaining a reputation in the industry. Eventually, you may find that having your own business for clients to seek you out will be much more profitable and efficient.
2. Become a franchisee.
If you are interested in starting your own business but don’t have the financial means to fund a startup from scratch, franchising may be a good fit for you. Whether it’s a restaurant, coffee shop, or fast-food joint, finding a low-cost franchise means you get access to brand recognition, comprehensive training, and a business plan. It can be very beneficial to look at new franchise opportunities because they give you a leg up on other small business owners.
Once you’ve decided you want to become a franchisee, you need to determine what industry of business will be a good fit for you. One popular choice that comes up often when you search “franchise opportunities near me” is actually UPS stores. Though it may sound surprising, UPS has over 40 years of experience in offering franchise opportunities. With thousands of franchise locations across the US, their franchise partners help ensure that everyone has access to shipping services. As a franchise owner with UPS, you can use their brand recognition and reputation to quickly build a steady customer base. Not only will their brand name help you efficiently build your business, but their franchise locations and real estate agreements allow you to choose the best area in order to serve your local community well.
3. Launch your own online store.
Crafting and creating jewelry, clothing and art has become one of the most popular ways to make a living. With marketplace sites like Etsy, people can run their own shops online. But if you want to avoid fees that the site takes from your earning for using their service, you might want to consider opening your own online storefront and running it from your own website.
To do this though, you will need a host and servers that are reliable and protected. One trusted cloud service provider is ovhcloud. Their servers are affordable and powerful, and you can be sure your site will have the space and protection that it needs online. OvhCloud owns are operates their own data centers, meaning they are the experts and will be on-call to help you if you have any sort of performance issues. Their public cloud services are also fully scalable, so you can instantly scale the services to meet your business needs as you grow your customer base.
4. Become a content creator or influencer.
As we have all seen over the past decade, the title of “influencer” has come to be synonymous with success. Though you may not aspire to be like the rich Instagram influencers, you can still find a way to make a living by creating content. Whether you’re an artist or a comedian, it doesn’t really matter. As long as you are making content you are passionate about and can amass a decent-sized following, you can make content creation your full-time job through brand deals and AdSense.