If you just gained admission into the university, you may not be able to start off this business because you need time to balance as a new student. However, if you are in your 2nd, 3rd, 4th, or final year, trying out this business may mean extra income or even a whole source of income for you.
Why should I have a business as a student?
Apart from having to buy school essentials or feed yourself, it is necessary to have enough money that can help you find your lifestyle too. It is okay to think that you get a monthly allowance from your parents monthly but an extra source of income is a good idea. The truth is, as a student, you always need more money, more than enough, not only for basic necessities but also to gain some sort of financial independence.
The Material Sourcing Business
The material sourcing business may be a common business for people who already know about it and can do it. If you are wondering what “material sourcing” means for a university student, it is the process of finding and obtaining the necessary materials and resources for academic projects and assignments. This can include research materials, books, articles, lab equipment, or any resources required to complete coursework.
As a university student looking to try this business, you may offer material-sourcing services to your coursemates, helping them find and access the resources for their academic needs. It can be a useful service for students looking to save time and access hard-to-find materials.
What do I need to start my material-sourcing business?
Material sourcing business requires that you are way ahead of your class and have access to lecturers, professors, and the school library. However, there are other important factors you need to consider:
How well do you know about the courses you want to source materials for?
Determine if you will be sourcing materials for only students within your level or the whole college. It is as simple as asking yourself if you want to find materials that the entire College of Health Science students can find useful or if you are just working with the final year students alone. Be sure to have an answer to this question before moving on.
Access to Resources
How do you intend to find your resources? Are you planning to use the university library? Do you think you should check the online database of your school to see if the lecturers upload the notes online? If you are using every one of these, make sure that the resources are the right ones alone.
Finding your customers
The best way to find your customers within the university area is to blow your own trumpet. Build relationships with professors who might give you access to extra resources and fellow students who may need your services. Consistently, tell people what you do. Let them know that they can tell their friends who might also be needing your services.
Pricing and Business Model
Determine how you will charge for your services; will you be charging them per page of the material or according to the number of materials they buy from you? Be sure that you are not selling yourself short for the hours you have spent researching and finding the best materials. Also, do not overcharge if you really want your customers to return and also refer people to you.
