The earlier you can teach your kids the importance of hard work, ingenuity and money management – the better!
Although guides and step by step lessons help, it is best to demonstrate the importance of working and money managing through actual experience.
And what better way to simulate that real-life scenario other than allowing your kids to venture out on their own little business?
Before doing that however, it is important to assess what kind of areas and activities does your kid enjoy the most.
This is because it is best to allow them to pursue something that is more related to their interests so that they would not be inclined to think that getting into business is boring or tedious – you must make sure that they’ll have fun in the process!
Below are five new business ideas for your little kids (except the good old Lemonade business) that may match their interests.
1. Cookies, cupcakes and other goodies.
If you and your child enjoy bonding over kitchen activities such as baking, then selling cookies, cupcakes and other sweet treats could be a great business for him/her. Your child can easily sell those goodies to his/her own friends since children love sweets as well.
You can also opt to make and sell no-bake goodies such as Munchkin balls (made from Graham biscuits) and Peanut Butter bars if you cannot trust your kid with the oven.
2. Arts and crafts
If your kid loves doing arts and crafts, then you can encourage him/her to create unique and personalized invitations, posters and letterings that can be sold to friends and online clients.
You can also do an “event decorating” business wherein your child can create personalized crafty displays for special occasions such as birthdays, Halloween and Christmas parties.
Creating accessories such as beaded bracelets, personalized dream catchers and necklaces is also a great business idea for kids who are into arts and crafts.
You can use beads and small trinkets to create unique accessories and sell it to friends, family and even online via Etsy or Social Media.
If you and your kid prefer to skip the “manufacturing” or “creating” part, then you can simply resell stuff that you personally love.
It is best however to choose products or brands that appeal very much to children, so your little kid will not have a hard time selling and promoting them.
5. Printing, Photo Editing and other Digital Services
If your child is some sort of computer whiz, you can set-up a digital shop wherein people can come to print and scan documents and pictures for a fee. If your kid also knows how to use Photoshop and other digital editing tools, you can also offer photo and video editing services.
The “product” is just one aspect of your child’s business. You also need to teach your child about how to manage his/her expenses and sales to ensure that his/her business stays afloat.
You also need to tell them about time management since they need to allot some of their time to attend to the business.