Business Ideas For Kids
by Pearl Sanborn
4 Successful Entrepreneurs Still in High School
Kids Cash In with Their Business Ventures
Teaching Entrepreneurship to Your Kids
Jobs for Preteens
editor's note: Remember that your children's safety comes first. Always make sure that they don't attempt something beyond their maturity that could put them in danger.
I'm sure you've all been there...
You've just finished your shopping, your feet are tired and now you have to push this loaded cart out to the car only to unload it again. Suddenly, as you start to make your way past the first set of doors, the little eyes that are supposedly behind you catch a glimpse of the big colorful machines directly in your path!
Most of the time I hurry the kids past the money hungry machines, but when they showed me the big colorful smiley face stickers, I decided to let them indulge.
Trends being as they are, now that my kids are into the stickers, wherever I go I notice other little ones who are collecting these happy faces! I probably wouldn't have even paid attention to it before.
Being the entrepreneur that I am I decided to do a search online to see if we could purchase the stickers at a wholesale price, even if we didn't own a vending machine. Sure enough, I found a large wholesale company that specializes in these and other colorful stickers.
The stickers cost 50 cents each in the vending machine but wholesale they only cost fourteen cents each! Of course when you buy something wholesale, there is usually is a minimum order. In this case the minimum was 300 stickers. So for the initial investment of $40 and selling the stickers at 50 cents each, your kids could make a profit of $110!
Think about the possibilities: fund raisers, flea markets, yard sales, eBay or friends. When I told my boys about the possibility of "selling" stickers, they told me that kids already do this after school! I guess kids trade or buy the ones that they want from each other instead of taking the chance of not getting the one that they want out of the vending machine. I've seen kids spend $5 trying to get that "special" sticker that they want!
I think it's great for kids to have a little business of their own. It teaches them responsibility, how to handle/save their money and how to treat others. Also, kids who have some sort of business when they're young are more apt to venture out into a business to support themselves when they're older!
Here are some other businesses that might be a perfect fit for your children:
We raised lovebirds for several years. They are fun to raise and our kids could do most of the work themselves. Each pair can produce three to five babies, four times per year. We sold each baby for $35 wholesale. That means each pair produced $420- $700 worth of babies. We had five or six pairs which gave us a nice profit of $2100-$4200 per year!
Red Eyed Tree Frogs
These frogs produce 100-160 babies per nest. Each one sells for $20 wholesale, and $45-$50 retail! You can see how this would add up quickly!
I talked to a mom last week that said her 11-year-old son goes to a local blueberry farm - picks berries - and sells them for twice what he paid for them. Even though they live on low traffic backcountry road, he always sells out in a few days! Even if you don't have your own garden, don't forget about "reselling" other local produce!
Candy bars, bubble gum, yard work, and flowers are just a few other ideas.
Let them have fun, be responsible, and make some money!
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Take the Next Step
- Open a savings account for your child's earnings and start teaching them the importance of saving. Find the best rate so they can earn the interest they deserve.
- One of the biggest advantages kids and teens have with money is time. See how teaching them about time and compound interest can be a huge financial benefit to them someday.
- Take a look at these 5 tips for raising money smart kids and start using them.
- Check out these job ideas for pre-teens and these money-making opportunities for teens.
- See how using a wish jar can help younger kids learn about money.
- It's tough raising kids today! You need every time and money saving idea you can find. That's why you'll want to get our free weekly Dollar Stretcher for Parents newsletter. You'll find great ideas designed just for parents that will help your family 'live better...for less'! Subscribers get a copy of our ebook Little Luxuries: 130 Ways to Live Better...For Less for FREE.