It would be fair to say that where there are people, there is money to be made. But what’s important to remember is that it’s not as simple as declaring you’re going to make it as a small business owner in the Big Apple or the Windy City; you have to be in the right place. For business-minded millennials to capitalize on their drive and determination, choosing a thriving college town in which to set up shop could be better than a large metropolis for your ticket to earning a solid income.
If your target market is indeed those of a college age, then it seems logical to create a business with an HQ in one of the most popular college towns in the US. Furthermore, it’s abundantly clear that e-commerce too has never been stronger in North America right now, so if you’re serious about retail, then best tie yourself to this shooting star while you can. E-commerce may just be one facet that you’d like to explore, but often it’s a good idea to grow your business in a physical location first, then later expand when the time is right.
For those savvy businessmen and women, the US is a veritable goldmine of opportunity. Therefore, we’d like to share six amazing college towns that would be a fruitful and productive place to start your entrepreneurial dream.
Provo contains the Brigham Young University, which not only employs over 4,000 people, but also regularly churns out smart and well-educated graduates. Tech is a booming industry for the area, which has earned it the nickname “Silicon Slopes.” Far enough away to not be in Salt Lake City’s shadow, Provo is a lively and bustling place in its own right and contains a fantastic arts scene too.
Texas is rapidly becoming a force to be reckoned with, and Denton is one of many towns in the state with a very young and ambitious population. The town’s affordable housing and solid public transport – along with a diverse arts, music, and food scene – make Denton a perfect place to get started in the business world. It’s such a prolific town in fact, that “Dentoning” has become a regular term for enjoying all that the area has to offer.
The city’s great “Runza” sandwich isn’t the only reason to stay in Lincoln. Wilderness Park is a wonderful green area covering close to 1,500 acres, and Lincoln also has a flourishing tech sector with one of the lowest unemployment rates in the entire US. Most importantly perhaps, is that Lincoln contains the University of Nebraska, so it’s not hard to see why the town is absolutely ripe for business prospects.
While college sports might be the first thing that comes to mind when mentioning Gainesville (home to the Florida Gators basketball and football teams, among others), the town is incredibly rich in opportunity in so many areas. Fishing, snorkeling, and scuba diving are outdoor activities that are hugely popular in the area, not to mention the Paynes Prairie Preserve State Park, so anyone with a great outdoor/sports business idea would do well here.
An energetic and fun city Cambridge may be, but the number of young people in this area means it is fantastic for small business owners. Harvard University and Massachusetts Institute of Technology are two of many colleges in Cambridge, and the highly walkable city gives many chances for passersby to stumble upon stores, cafes, and restaurants. The fact that it’s so close to Boston doesn’t hurt either.
Ann Arbor, Michigan
Without a doubt the top pick. Ann Arbor regularly makes top lists of livable cities across the US, so it would be crazy of us to leave it out of the top college towns. The University of Michigan contains around 43,000 students, and the city’s great housing opportunities, combined with amazing entertainment, make Ann Arbor a hub for business growth. What’s more, many festivals and events are found in the area, such as fairs for books, music, film, food, art, dancing, and more. Like we said before, when there are people, there is a prospect to earn money, and it doesn’t get much better than Ann Arbor for your business to flourish.