Though tradition may call for waiting until graduation to join the business world, some Binghamton University students are getting a head start by starting their own companies while in school.
Nickay Piper, a senior majoring in sociology, began her business, The Butter House, in June 2009. The business ‘ which was originally located in Johnson City, but is now run exclusively online ‘ sells health and beauty merchandise for women of all ages.
According to Piper, The Butter House will also launch its own line of body lotions, creams and washes in December. Several of these products will feature herbal ingredients from Jamaica, the country of her family’s heritage.
‘It’s not your average online beauty store,’ Piper said.
But students need not strike out on their own. The student group Students in Free Enterprise (SIFE) provides guidance to student entrepreneurs. After assessing the current status of a student-run business, they build a team to help students improve their ventures through better marketing and business planning.
‘There is a definite buzz around student entrepreneurs because the overhead is low ‘ housing and food are paid for ‘ and we have a lot of free time outside classes to dedicate to whatever we choose,’ Elliot Nasser, executive vice president of SIFE, said.
Nasser, a junior majoring in financial economics, admitted that students looking into starting businesses in the future would need to be realistic about the commitment.
‘Most of the time it is a learning process and the time taken to fix all the unforeseen problems can result in a business being a lot more work than anticipated,’ Nasser said.
As the founders of Hoolip, Jonathan Ellenbogen and Alen Muminovic, both juniors majoring in computer science, print and sell their own T-shirts with funny catchphrases. They also run their own website and manage all other aspects of the business by themselves.
‘It sounds corny, but it takes passion,’ Muminovic said. ‘You cannot succeed in something so time-consuming if your heart is not in it.’
Ellenbogen and Muminovic were appreciative of the help they received from SIFE in beginning to run Hoolip.
‘It is a great student group for people who are looking to be involved with any aspect of business, and anyone who is interested in helping local businesses should check it out, because it is practical experience, which is hard to come by sometimes in college,’ Muminovic said.
In spite of the dedication required, student entrepreneurs can benefit greatly from the experience of being a full-time student and owning a business at the same time.
‘It’s forced me to grow up,’ Piper said. ‘There are times when things don’t go your way and you have to convince yourself and everyone around you that the effort is worth it. That builds character and carries over into every aspect of your life.’
Both The Butter House and Hoolip can be found on Facebook and their respective websites, www.thebutterhouse.com and www.hoolip.com.