Lemonade and more: Let’s just start with the obvious — a lemonade stand. This business venture works for kids of all ages and is a limited commitment of one day! Let kids get creative though: Maybe in addition to lemonade they sell cookies and watermelon. Maybe instead of lemonade they sell orange juice. They’ll get to touch on the basic concepts of setting their prices, subtracting their costs from their profits, and perhaps making their business stand out from all the other lemonade stands out there!
Pet project: Maybe your child is less into squeezing lemons and more into animals. They might be the new owner of a dog walking or poop-scooping business! If you live in a neighborhood with lots of dogs, this could be a great business to help them learn the skills of being on time, communicating with people (and animals!), and being competitive with services and pricing. This business requires a daily or weekly commitment, which builds responsibility. Just make sure that your child is strong enough to handle the dogs they’re walking, and make sure that they dispose of pet waste according to local regulations.
Get crafty: If you prefer a business with less in-person interaction and your child is artistic or crafty, an online sales business may be right for you! Kids can start an eBay or Etsy store, with supervision and management from a parent, and sell their goods on the internet. Of the suggestions in this blog, an online store requires the biggest commitment, as kids and parents will both need to be involved heavily, and customers must be addressed and taken care of in a timely manner. They’ll need to do some market analysis to determine what’s currently for sale out there and what might be in demand. Determining prices that will turn a profit but still attract customers is always a must with a business, but it requires special consideration when your competition is online and all over the world!
If your child is itching to enter the business world to make a bit of extra cash, let them start small and see what they think! Any of these businesses (and more!) can be an enjoyable way to learn about business and math principles and become more responsible too.