People ask me all the time how they can start a business, and they also ask me how to teach kids to work hard and learn the value of a dollar. Well, today, I'm killing two birds with one stone! Keep on reading for a few brilliant business ideas for kids, plus tips you can use as a budding entrepreneur.
Fun fact time! Did you know that Bubba and I are both entrepreneurs and have six businesses between the two of us? It's true. (And you're welcome if they ever ask that question on Jeopardy!)
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A while back, I shared on social media about the amazing books from Kidpreneurs.org. And since you guys loved their resources SO much, I figured I'd do a little deep dive on the ins and outs of helping your kids start a business. So, let's start with a few fundamental tips and then get into a few business ideas for kids, eh? Here we go!
WANT TO HELP YOUR KIDS START A BUSINESS? HERE ARE MY 3 BIGGEST TIPS
Okay, before I share some crazy cool business ideas for kids, I'll start by sharing a few tips for getting started. When it comes to teaching your kids the value of hard work, here are few things to remember!
EARNING MONEY IS ONLY HALF OF IT
Teaching our kids to earn their own money is important, but it's equally important to teach them to MANAGE their money well! This includes saving, investing, and spending. (Yes, teach them to SPEND wisely, please!) The more money you earn, the harder it is to budget and manage carefully. Please, please, PLEASE teach them now, so they make financial mistakes as kids and teens, rather than adults.
LET THEM FAIL
It is hard watching your kids stumble, fall, and even fail in life, but it is SO important to let them experience those things without softening their blow. Support and love them, give them encouragement and advice (when they ask for it), but otherwise stand back and let them figure it out. Teach them how to get up and keep going when you fail. Please don't do it for them, and don't bail them out. Don't enable laziness or cutting corners. Let them think it through, test things out, try, try again, and eventually, they will succeed! Failing as a kid and teen is much less painful than failing as an adult.
My four and five-year-olds did it, and yours can too! Don't think that starting businesses are only for adults and teenagers. Young kids can be successful too! Hutch and Priya both started earning money before they even started kindergarten!
You can 100% talk to preschoolers about money and start laying the foundation for financial health. Make it fun! Sing songs, read books, make a chore chart, use chore sticks, watch videos, and check out all the incredible resources from Kidpreneur! By the way, if you're interested, you can check out how we do allowance for kids, too.
5 BUSINESS IDEAS FOR YOUNG KIDS
Alright, who's ready for a few fun business ideas that are perfect for your youngest family members?! Here are five clever ideas:
- Make & Sell Jewelry – Tap into their artistic side! Craft supplies are super cheap, so selling bracelets or necklaces for $1 each can turn a profit pretty quickly.
- Baked Goods Sale – Teach your kiddos to cook and make money at the same time! Make a big batch of brownies or banana bread and sell those goodies by the slice. You can go door to door, reach out to friends and family on social media to take orders, or set up shop at a neighborhood yard sale.
- Lemonade Stand – This classic business idea will never go out of style! If you have a snow cone machine, you could sell those, too.
- Sell Used Toys – Every month or so, have your kids go through their books and toys and pick out a few items to sell! List them online or take them to a local consignment shop.
- Feed Pets – While the little kids probably aren't ready for dog walking, they can help feed pets! Have a neighbor with a cat? Offer to help feed them for a dollar per day while they're out of town! It's fun for your kids and bargain for the neighbors.
Easy peasy and fun, right? Now, let's talk about the big kids!
5 BUSINESS IDEAS FOR OLDER KIDS/TWEENS
What about your bigger kids, say ages 8-12? Well, they can do all the things those little ones can do, and then some. Here are five ideas perfect for the older kids:
- Mother's Helper – While 8-12 years olds are still too young to babysit on their own, they're the perfect age for a mother's helper gig! Many moms need after-school help and will pay $2-$5 per hour just to have an older kid play with their littles while they prep dinner or help older kids with school work. It's an awesome experience that can lead to babysitting gigs down the road when they're old enough!
- Tutor – If you have a voracious reader, let them buddy up with younger neighborhood kids to help with homework. Have a math whiz in the family? Maybe they can help your neighbor practice their multiplication tables! Word travels fast when it comes to good tutoring, so after one or two jobs, get ready for that business to take off!
- Dog Walker – Dog walking is the perfect job for pre-teens! Services like Wag or Rover charge $15-$30 for a short walk, so coming in at a much lower price point is a great way to earn neighborhood business.
- Car Washing – Washing the car can be a drag if you're a grownup, but kids LOVE doing it! This business is great because, with about $10 worth of supplies, your kiddo can get right to work. Host a neighborhood car wash in your culdesac or offer driveway service.
- Light Gardening/Yard Work – Your eight-year-old may not be ready to mow lawns, but they can help water plants, pull weeds, roll the garbage bins to the end of the driveway, or rake leaves! Put signs up in the neighborhood or advertise their services on Nextdoor. You'd be surprised how many neighbors need a little help with odd jobs.
Don't forget about online side hustles, too! From surveys to online tutoring, there are so many ways to make money from a phone or computer. And don't think that teens can't do these jobs as well! If you have a 14- or 15-year-old, then check out our post on jobs for teens where they can earn even more money.
HAVE YOUR KIDS STARTED A BUSINESS?
Well, that was fun, huh? I hope this inspired you to help your kids start their own businesses and give them the tools for success in their future. One last tip! Be sure to check out my budgeting program Budget Boot Camp for other ideas on how to teach your kids to manage their money. Make sure to use the code FCFBLOG for 10% off!
Have your kids started businesses? What worked and what didn't? Share with us all below!
Want to learn more about money or budgeting?
- Find out how to pay off credit card debt fast, and grab a copy of our free debt tracker!
- Learn about my 70% rule so you can start saving and investing on ANY budget!
- Here's the 4-1-1 on how we divide and conquer financial responsibilities!