Many students attend college with hopes of learning how to own and manage a business, but some undergraduates get a head start by opening their own businesses to pay for their education.
Something Texas Tech student, Clinton Williams, Tech graduate Jared Dunn and South Plains College student, Hunter Hutchins, have in common is they all purchased and run their own businesses.
Their businesses are doing well enough that the income supports Williams and Hutchins entirely, including paying for their tuition.
Williams, a mechanical engineering major from Panhandle, is the owner of Broadway Bikes, a bicycle and repair shop that has been open for 30 years. Williams purchased it in December 2006.
Broadway Bikes has the most potential as a profitable bike shop in Lubbock, which Williams said is because of its location.
"Seeing that potential, I kind of acted on it," Williams said. "I've been in the bike industry for a long time, and I moved in from the outside, and sort of got a different view of its potential."
Growing up, Williams spent much of his time in a bike shop, as his stepfather worked in one for 15 years. Williams said he thinks the best way for students to learn about their desired career is through observation and listening.
Working in a bike shop for three years after high school is how Williams said he gained that real-life experience.
"I've always supported myself," he said. "That's the one thing I have that a lot of other students don't. I've had to have that knowledge of how to support myself. I think it takes that knowledge in order to become a business owner and be successful at it."
Williams said he does not know if he will be opening up another shop anytime soon, and that he is busy enough trying to balance school and one business.
The Global Entrepreneurship Monitor indicates that 18- to 24-year-olds are starting businesses at a more rapid rate than 35- to 44-year-olds.
It is estimated there are more than two million small businesses in Texas, according to an estimate done by the Office of Advocacy, with no records of how many of those are student-owned.
According to the Small Business Administration, in any given year, approximately 7 percent of working-age people in the United States is taking steps to start a business.
Hutchins, a sophomore agricultural business major from Castroville, is one of those small business owners, as the owner of Lawn Raiders, a lawn care service he purchased from a friend's uncle in August 2004. He also is the co-owner and creator of Raider Waiters, a restaurant delivery service that opened in March 2007.
Hutchins said he purchased Lawn Raiders because he realized he does not like working for someone else, and as a result, needed a way to pay for school and support himself.
The young entrepreneur said he also was influenced by his dad who owns an array of different companies.
"My dad was a huge influence on me," he said. "He owns a few different companies from a gas station to a restaurant. Watching him had an impact on me wanting to open my own companies."
Hutchins hopes for Lawn Raiders and Raider Waiters to become well-known and expand in the future. Hutchins supports himself from the income he makes from Lawn Raiders and is hoping that Raider Waiters will make more of a profit if it becomes more popular.
Since he supports himself and understands how difficult it can be for college students to do so, Hutchins said he gives a helping hand to others in a position he used to be.
"I only employ college students," he said. "I want to help students get through school and have a good, reliable summer job."
Dunn is from Abernathy and graduated from Tech in December 2007 with a degree in business management. He is the owner of Dunn Door Company, a garage door installation and repair company which he opened in May 2006. The business grossed $175,000 in total revenue last year.
Dunn said he opened his company by using school grants and received a small line of credit from a bank. He used all of his own resources to start his business and supports himself with its income.
Dunn said balancing school and work was demanding, but he knew he had an obligation to his job.
"Towards the end of school it started to become really difficult to juggle school and work, he said. "I missed some classes that I probably shouldn't have missed, but I made it work. I had to."
The secret to owning a business while attending school is to know that the work has to be done and be aware of how many activities can be finished in one day, which is what Dunn said he credits his success to.
"I learn something new everyday," he said. "I started with a little bit of knowledge of how to work and manage other people. Everyday is a learning experience that I gain new knowledge from."
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