Top advice for college dorm room businesses [Video]

For anyone who aspires to start a business in their dorm room and grow it into a multimillion-dollar company — or simply use it to help cover tuition costs — Seth Berkowitz has some advice.

Berkowitz, the 43-year-old co-founder and CEO of Insomnia Cookies, got his start baking cookies in his college house at the University of Pennsylvania and delivering them around campus as late as 4 a.m. Today, he oversees more than 260 Insomnia Cookies locations that brought in more than $200 million last year, according to documents reviewed by CNBC Make It.

His advice is twofold. “One, get a mentor … Find somebody who’s done this before you, or done something similar,” says Berkowitz. “Two, do it. [College] is such a great time to try something.”

Here’s why he recommends both, and his advice on picking your dorm room business idea.

Berkowitz wishes he’d known this particular piece of advice sooner, he says, because “it’s pretty lonely at times” to run your own business — and …