Encouraging kids to think like entrepreneurs teaches them long-lasting lessons about the value of hard work, careful planning, and creativity.
By Melanie Hargrave
We all remember sitting at the end of our driveways at a table, a pitcher of lemonade waiting expectantly, with a big cardboard sign announcing our 25-cent cups of refreshment. Most likely, that lemonade stand came out once or twice a year over summer break as a fun way for mom to get you out of the house and for you to make some money for candy.
But what if you wanted to make money more permanently?
Teaching kids the value of money is an important life lesson that too many parents delay. While children are often given an allowance of some kind, most kids and even young adults grow up with very little concept of business skills.
Rather than waiting until your kids are out of the house to teach them about getting a job, you can encourage them to handle money responsibly, work hard, and develop their creativity by starting their own business now. It’s an important life lesson: hard work and dedication pays off!
And although the lemonade stand is a classic fall back, here are 6 other business ideas your kid might like to try his or her hand at.
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1. Dog Walking
Starting a dog-walking business can be a very lucrative endeavor—even for adults! Since many families are out of the house all day at work or school, their pets are often left home all day in need of exercise and relief.
Help your child organize a service by contacting neighbors and friends. With Facebook and other social media outlets, it is even easier to find people who may need a dog walker. You can even set up a blog or website for local families to find the business and contact you (or your child) about hiring him/her.
2. Selling Crafts
Does your child have a talent or passion for crafting? Show them that this talent can be more than just a hobby by selling his or her crafts. Show them how to set up an account on an e-commerce site like Etsy or help them contact local businesses and boutiques that might be interested in selling them at their shop. From homemade slime to beaded jewelry, there is a market for just about anything.
3. Doing Yard Work
Doing yard work doesn’t have to be a chore. Many homeowners are more than willing to hire a young entrepreneur to mow their lawns, pull weeds, and do other similar tasks. They can enjoy paying a lower price for good work and your child will get a pretty penny for their efforts. If you take time to send out seasonal flyers and business cards, your kid can develop a small side business into quite a lucrative empire.
4. Babysitting
Babysitting is another classic go-to, but is no less viable an option. Depending on the age of your kid, they can work as mother’s helpers or independent nannies. Help them set prices and rates for services and sweeten the deal with CPR certification. If they set competitive rates, your son or daughter may have parents banging down your door for their services. Experienced babysitters can organize a half-day or full-day summer camp for neighborhood kids by combining activities such as arts & crafts, sports or baking.
5. Tutoring Younger Students
Professional tutors can cost parents an arm and a leg. However, if your child is particularly gifted at a subject like math or writing, he or she could easily start a tutoring business for younger students. Their rates will obviously be dramatically lower than professional prices (which can be as high as $60/hr.—yikes!) but still a great income for a kid.
6. Blogging
Writing on a blog is a great outlet for kids to make some money. If they need some inspiration, help them find a topic they enjoy and show them how to set up a blog and optimize their posts. Once they have some regular content up, they can monetize their blog through Google and other online ad services fairly simply. This is probably a good business venture for middle school or high school kids, but any age can have fun with this side project.
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Melanie Hargrave is a wife and homemaker whose pride and joy is her family. In addition to spending time with her husband and daughters, she loves writing about a variety of topics from business to home improvement, and finds inspiration from success stories like that of Rick Schaden.