drop servicing business blueprint for college students
Do you need a stable source of income? Maybe you have some bills to be cleared or you need some money for your textbooks, tuition fees, etc. Borrowing money or applying for a student loan is not the only option.
In this post, I would walk you through a simple online business that can earn you $300 monthly with zero skills and zero investment.
Let's dive in
Drop servicing refers to the practice of selling a service to clients for a fixed fee (for example, $500). Then, without the client's knowledge, you hire someone else to provide the service for a cheaper fee ($100) and pocket the difference ($400) as profit.
That is, you're getting paid for a service someone else is doing.
"Service arbitrage" is another term for drop servicing. You can arbitrage the price gap between what a customer is willing to pay for a service and what someone is willing to be paid to execute it.
Let's say you come across a client who needs app building services. They're willing to pay $2500 for the job.
If you decide to leverage this position, the first thing you'll need to do is find a freelancer (app developer) who will build the app for less than $2500.
you're paying the developer let's say $1500. Then the job is finally done and returned to you by the developer, and you deliver them to the client. You've paid out $1,000 as profit without Doing the job yourself.
Drop servicing is a profitable online business for college and university students, it doesn't overtake your learning period or your bedtime. But brings you a stable source of income to finance your education successfully.
Drop servicing examples
I don't go about borrowing money from friends or applying for student loans for any reason, so I want to use myself to illustrate how simple and profitable this business is.
I'm not an app or website developer, I don't know anything about either building a website or application from scratch. But these are the selling services I listed on my Fiverr and Upwork profile.
In the past year, I have received 792 website building service orders on Fiverr, 788 were successful and 12 orders were refunded. I also listed my service on Upwork as an application developer and I have received 316 orders on Upwork. These services I claim to be rendering have made me over $21,000 in a year, plus other gigs I'm still embarking on.
The sweetest part of this is that those services were done by experts I paid twice less than the amount I charge my customers. This is one of the sources of income that finances my education.
Do you know that more than 70% of services companies and agencies offer are being done by freelancers who charge them cheaper than what you or other clients paid for?
Free drop servicing blueprint for college and students
Now let me give you a 24 hours plan of action to start your own drop servicing business.
As a college or university student, this might be perfect for you as it doesn't consume more time and required no special skills. Let's dive into the blueprint.
1. Find your niche:
Find a low competitive niche, in my case: on Fiverr, I listed my service as a web developer.
On Upwork, I listed my service as an app developer. On other freelancing websites, I listed some services like transcription, voice-over, and translation. You don't need to use all the freelancing websites, for a start, use Fiverr and Upwork.
2. Create an account on Fiverr When setting up your account, ensure your profile and service pics are very attractive to the client
These images you attach to your listed gigs play a vital role in getting your, Clients. I recommend you hire someone to design this image for you.
3. Check out for the right employee: Based on the service you have listed, move around the freelancing website to find an expert you can hire once you receive your orderer. Find someone who charges less than what you would charge your, clients. Check the review section of the employee and see what people are talking about him or her.
4. Promotion your gigs:
Setting up your gigs alone is not enough to start receiving orders, you must promote them.
Promote your gigs on your Facebook page or groups, and share them with your family and friends you know that they would be interested in. Tell them you're now rendering a particular service in case they need it. If you don't mind, you can provide your contact number or emails anywhere you're promoting your offers.
My first writing gigs were ordered in legiit by my course mate. You can check out what students in your school are constantly looking for. Try to solve their problems and you will see the magic.
Services like essay writing, research, proofreading, plagiarism check, etc are services you offer in school. Invite them to your Upwork or Fiverr gigs.
5. When you start delivering services to your clients, always ask them for a review. This review would boost your gig and you would start getting more and more clients.
Conclusion
If you need to be financially stable while facing your studies in college, this is for you. No skill or setup cost is required. This works worldwide, it doesn't matter whether you're from India, the United States, Australia, Canada, etc.