What are good business ideas for kids? As important, why should you encourage your kids to be entrepreneurs?
When Warren Buffett, was interviewed about his series of videos for kids The Secret Millionaires Club, he was quoted as saying:
There was a study many years ago questioning how to predict business success later in life. The answer to the study was the age you started your first business impacted how successful you were later in life. Teaching kids sound financial habits at an early age gives all kids the opportunity to be successful when they are an adult.
When then asked, “What do you think is the biggest mistake parents make when teaching their kids about money?” Buffett went on to say:
I think parents need to start teaching kids about the importance of managing money at an early age. Sometimes parents wait until their kids are in their teens before they start talking about managing money when they could be starting when their kids are in preschool.
Where can you start?
Here’s 30 business ideas for kids.
Business Ideas for Kids
# 1 – Lemonade Stand
The classic kid entrepreneurship activity which can be launched in as little as 10 minutes.
# 2 – Take Advantage of Selling Door-to-Door
If your child has to sell something to raise money for a group (i.e. girl scout cookies) make them go door-to-door. One thing in common many of today’s top entrepreneurs have in common is they started to sell young.
# 3 – Farm Stand
Have kids help with the garden for a percentage of the crop. Then, they can sell the items with a stand in the front-yard.
# 4 – Have Them Sell You Their Chores
Don’t give your kids a list of chores. Instead, have them come up with their own list, which they have to sell to you for a fee.
# 5) Tutor
There’s a lot kids can teach one another. If your child excels in one area such as math, music, or sports–discuss opportunities to tutor/coach other kids.
# 6) Camps
Organize a one-day camp. Anything from sports to princesses.
# 7) Babysit
Have your child sell their babysitting services to neighbors.
# 8) Dog Walking
Walk neighbor’s dogs while they’re at work.
#9) Pet Sitting
Stop by a neighbor’s house to walk and/or feed their pets while they’re away.
# 9) Lawn Mowing
A great business idea for a teenager, as there’s a lot of fundamentals involved with a lawn mowing business; accounting, startup costs, weekly commitments, invoicing, and more.
# 10) YouTube
Create and upload YouTube videos and earn a share of the ad revenue.
# 11) In-Home Car Wash
Go to the houses of others and wash their cars.
# 12) Face Painting
Work kids birthday parties as a face painter.
# 13) Catering
For kids who like to cook, have them make desserts for other birthday parties.
# 13) Lawn Maintenance
Pull weeds, rake leaves, mulch, pick up sticks, etc… of neighbor’s yards.
# 13) Jewelry Designer
Make and sell jewelry to friends and family.
# 14) T-Shirt Designer
Have your child come up with T-Shirt designs and sell them on sites like Merch by Amazon.
# 15) Pet Grooming
Wash and groom pets for friends and family.
# 16) Snow Shoveling
In the winter months, shovel driveways and sidewalks of others.
# 17) Blogger
For the tech savvy kid, run and maintain your own website.
# 18) Onsite IT Setup
If your child can setup a computer or a wireless network, have them market their services to local senior citizens.
# 19) Sell Other’s Stuff
Work with friends and family to sell the “stuff” they don’t want on sites like eBay. Take a percentage of the sales price.
# 20) Recycle
Recycle the cans of others and bring them into a recycling center.
# 21) Gumball Machine Operator
Work with local businesses, such as a family restaurant or dry cleaner, to place a gumball or other type of vending machine inside.
This is actually one of the first businesses Warren Buffett had as a teen.
# 22) Breed Worms
Collect and breed worms to sell to fisherman.
# 23) Organize a Garage Sale
Have your teen manage an entire garage sale operation, from collecting the items to selling others. Give them a percent of the sales.
# 24) Organize a Neighbor’s Garage Sale
Once they’ve run a garage sale for you, have them sell their garage sale services to neighbors.
# 25) House Sitting
While neighbors are away on vacation, your child can water their plants, collect mail/packages, and more for them.
# 26) Fence Painting
As Tom Sawyer taught us, painting fences can be a rewarding job.
# 27) Caddy
There’s a lot one can learn when caddying at a local country club, most importantly the kids who are well-liked and work hard are the ones that get picked first and tipped well.
# 28) Sell Water
Pick Up a few 24-packs of water and head on down to a local event (preferably, when it’s hot out) with a wagon full of waters on ice to sell for $1 each.
# 29) Writing
There are a lot of websites targeted at teens but not a lot of teen writers. Have your child sell and market their writing services to these websites.
# 30) Investor
Everything your child makes, teach them to save at least 10% of the profits. You can just hold the money yourself, giving them a 20% return or so a year and keep records in an excel spreadsheet. Or, invest the money in an account like Betterment, which has minimums as low as $1.