Guide: Start Profiting Young with These Young Entrepreneurs’ Ideas
While some kids are inclined to play outside with their friends or huddle in the basement playing video games, others are looking to become the next Steve Jobs or Bill Gates. That’s a brave aspiration, especially for kids and teenagers.
Thankfully, there are business ideas for young entrepreneurs that allow them to start gaining business knowledge – and building a savings account – that can help them fund their own business down the road or pay that hefty Harvard tuition bill.
Kid entrepreneurs are a rare breed, and there aren’t many resources out there to help teen business ideas get off the ground. Where do you even start? What business ideas for young entrepreneurs are out there?
Fortunately, there are many small business ideas for teens. The real trick is trying to determine which kids’ business ideas are viable and profitable while also fitting the unique skill set of particular child entrepreneurs.
With so many business ideas for teens out there, it can be difficult to choose the best one. Each teen business idea requires a unique skill set or knowledge. It can be frustrating to try to narrow the list down.
When looking for small business ideas for teens, you will probably have many questions, including:
- How do you start a kid biz?
- Can child entrepreneurs actually make a profit?
- Can you start a business for kids from home?
- What are the best teen business ideas?
Throughout this guide, we will answer the questions you have about starting a teen business and why they can be great for your future. We will explain how to start a teen business and the importance of safety when operating a kid biz. Finally, we will provide a detailed review of the six best kids’ business ideas for child entrepreneurs.
Top 6 Best Business Ideas for Kids | Brief Comparison
Business ideas for kids
How to spread the word
|Babysitter||Offer child care services for parents who need a night out||Sign up for a site like Care.com, post local flyers, & ask your parents to let their friends know|
|Chore Service Operator||Offer to take care of cleaning & other chores for family & friends||Flyers & word of mouth|
|Etsy Retailer||Sell handcrafted goods||Promote posts on the Etsy site & through social media|
|Lawn Care||Mow the lawn, rake leaves, pick up after animals, etc.||Local flyers, social media, & word of mouth|
|Lemonade Stand||Make & sell lemonade, iced tea, and even baked goods||Local flyers & signs|
|Tutor||Offer tutoring services in math, science, history, etc.||Social media, local flyers & word of mouth|
Detailed Overview: How to Start a Business as a Teenager
Taking young entrepreneurs’ ideas and turning them into a viable business can be quite a process. It is not just as simple as whipping up a batch of lemonade and sitting on the sidewalk in front of a house. There are rules, steps, and processes that need to be followed.
Image Source: Young Entrepreneur Ideas
As exciting as it is to start a business for kids, there are things to consider. You don’t want to end up in legal, financial, or physical trouble. This means okaying everything with your parents and paying careful attention to the requirements of your kid biz.
When kid entrepreneurs are looking to start their own business, it is important to utilize the following steps:
1. Choose a Business Idea: There are many teen business ideas floating around the internet these days. The first step is choosing a business idea that suits you. When starting a teen business, you want to make sure that you have a passion for what you are doing and that it is safe, legal, and somewhat profitable.
2. Develop a Plan & Set Goals: When utilizing business ideas for teens, it’s important to develop a plan and a goal. How will you organize and advertise? Who will your customers be? What type of financial gain are you looking for? These are all questions that you will need to ask when coming up with a viable business plan.
3. Manage Legal & Safety Requirements: Child entrepreneurs are under the same legal requirements as adults who start similar businesses. Make sure that you are following all legal and permitting requirements. Safety is paramount, so make sure that everything is okayed with your parents and that they know where you are at all times.
4. Learn Money Management: When you start profiting from these business ideas for kids, you will need to make sure that your money is managed properly. That means paying taxes when necessary, and knowing how to count, handle, and save money.
5. Advertise & Spread the Word: Without customers, your kid biz will never get off the ground. Determine who your customers are and be sure to advertise. You can use local flyers, word of mouth, and even social media to promote your business.
While the above steps are important for kid entrepreneurs to follow, the most important step is #6 – HAVE FUN! If you aren’t having fun, then you need either a break or a new business idea.
If you are good with kids and responsible, offering babysitting services is one of the great business ideas for teens.
You will show up – or have the children dropped off – and then be tasked with caring for children while their parents go to concerts, date nights, or business meetings.
Of all the young entrepreneurs’ ideas, babysitting can be the easiest to get started with. You will need a good, responsible reputation, references, local contacts, and possibly transportation. It is also beneficial to have some CPR training, though it is not necessary.
A site like Care.com will allow you to create a profile and advertise your babysitting services. It’s important to note that you might lose out to other child care providers who are CPR certified and older, meaning that parents feel more comfortable leaving their children with them. That’s why using word of mouth to spread the knowledge of your business locally, among family and friends, can be a good idea.
If caring for kids is something you’re familiar with and comfortable doing, then this could be one of the better business ideas for kids for you to capitalize on.
Chore Service Operator
Do you hate when your parents make you vacuum? How about when they make you take out the trash or clean the bathroom? Well, adults hate doing that, too, which is why a chore service can be one of the more lucrative business ideas for kids.
First, you’ll want to come up with a list of services that you will provide, and prices for each. It’s best to list prices in a range, since some neighbors will have bigger bathrooms to clean than others will.
To take business ideas for teens to the next level, you need to have some fun with marketing. By creatively advertising with local flyers, via social media, through Craigslist, and by word of mouth, you can generate a customer list.
Keep track of your customers and note who wants things done on a one-time, weekly, bi-weekly, or monthly basis. Following up with customers and providing great customer service is a good way to run a profitable teen business.
Though this is one of the better business ideas for teens, it’s important to be safe. You will be visiting people’s homes, so be sure that they are trustworthy and that your parents know where you are.
Are you great at crafts? Do you make unique necklaces or bracelets? Can you knit, paint, or take stunning photographs?
If so, becoming an Etsy retailer might be one of the best business ideas for kids. Though there are countless young entrepreneur ideas out there, utilizing your crafty side to generate income is viable with sites like Etsy.
Like all business ideas for kids, it is important to have a business plan. Decide what you will charge customers, how you will correspond to take custom orders – if any – and the turnaround time to ship out orders.
You will first need to build up some inventory. After that, you can take some photos of the products and begin to formulate product posts on the website.
One thing to note is that you will be charged for listing posts, and Etsy does take a cut of the profit. Some business ideas for kids will not require you to pay to list your services, but this is not the case for Etsy.
Overall, utilizing Etsy can be one of the best business ideas for crafty teens. If you enjoy making things, you might as well make some money at it!
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If you live in an area where your neighbors have yards – large or small – offering lawn care is one of the best business ideas for teens.
This one is simple to start, and you can actually create a very lucrative business. Simply draft a flyer with the services that you offer, post them on electric poles in your neighborhood, and hand them out by going door to door. You can also post your services on sites like Craigslist or Facebook.
By capitalizing on one of the best business ideas for teens, you can offer services like lawn mowing, raking, animal waste removal, and even weeding and landscaping. The work isn’t necessarily fun, but that means your neighbors will be happy to offload it on you!
Though it involves a lot of hard work, providing lawn services is one of the best business ideas for kids.
The classic lemonade stand is perhaps the most well-known of all business ideas for kids. This one involves whipping up some lemonade, iced tea, and possibly even some baked goods and posting up in front of the house.
While most kid entrepreneurs are not going to fund their college expenses with a simple lemonade stand, you can still generate some extra cash. This is a great business idea for younger children who are limited in their skills.
Chances are that you’ll have better luck with your lemonade stand, if:
- The weather is nice
- It’s the weekend
- You live on a busier street
Another way to generate more interest is to post signs at the ends of your street directing traffic to your stand. Variety is also a way to entice customers, so try whipping up some different flavors or types of beverages!
Opening a lemonade stand is one of the best young entrepreneurs’ ideas, especially for young children.
Are you great at math, literature, science, history, or even computer science? If so, becoming a tutor can be one of the most profitable business ideas for teens. This also works for teens who excel in sports and are willing to coach younger kids privately.
With the increasing pressure to go to get good grades and head to college, parents are more willing to spend extra money to bring their children up to speed in subject matters that they are lacking in. This is why tutoring falls on our list of business ideas for teens.
By offering to spend a few hours a week, or day, teaching younger children in areas that you excel in, you can earn extra cash. You can save it for your college fund or use it to take your crush out to the movies!
The hardest thing when taking young entrepreneurs ideas and turning them into legitimate income is advertising and generating customers. By using Facebook, you can post your services and let friends and family know that you’re in business.
If you excel in certain academic areas or sports, becoming a tutor can be one of the best young entrepreneurs’ ideas. It not only allows you to brush up on your skills, but you can help others succeed as well.
Conclusion – Top 6 Best Young Entrepreneurs’ Ideas
Starting a business as a kid or teenager is a very commendable act. Most children are worried about playing with their friends, getting Instagram likes, and playing sports or video games for hours on end. Kid entrepreneurs, on the other hand, are looking to make an impact, generate income, and become successful.
The skills learned taking business ideas for teens and making one of them into a viable business can be invaluable and utilized throughout life. Kid entrepreneurs learn about time management, money management, planning, and strategy. They even develop confidence by speaking with potential customers.
However, choosing from a list of business ideas for kids and actually starting a productive, profitable business can be quite a challenge. There are many factors that need to be taken into consideration.
Above all, it is important to remember that businesses run by children are under the same legal and safety requirements as businesses that are run by adults.
When you are looking for business ideas for kids to start building your confidence and generating an income, it is important to consider the following:
- What business ideas for teens seem appealing to you?
- Which young entrepreneur ideas fit your skill set and passions?
- Do you have your parents’ permission and/or support?
- What are the legal and safety requirements of the particular kid business? Can you meet these requirements?
These are just a few questions to ask yourself when you are trying to start up a business as a kid. Above all, it is important that you stay safe and have fun!
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