Today, becoming a business owner is the norm. Finding creative ways to earn money has helped many people achieve financial freedom. Business ownership has given many the ability to be more independent.
Children should not be excluded from this experience. In fact, starting a business with your children is an excellent way to teach them responsibility, financial literacy, and the importance of valuing money. We have compiled a list of a few business ideas that you and your children can do together.
1. Home-based Baking Business
If your children have a passion for pastries, starting a home-based baking business is a great way to make money. You both can select two to three recipes that you feel people will enjoy and begin practicing to make them. Cookies, cakes, and brownies are great pastries to offer for sale.
When purchasing ingredients and packaging, it is crucial to save all the receipts to determine how much it will cost to make each pastry and give you an idea of how much to sell them to make a profit.
Your child can think of a fun, creative name to give the business, and from there, you can allow people to try free samples. You can start around your neighborhood, your workplace, and your child’s school. From there, you can watch your business grow.
2. Lawn Care and Gardening Services
It’s now summertime, and kids are out of school. Lawn care jobs are an excellent way for them to earn some money during the holidays. You can go door to door with your kids offering your services.
Printing a shirt with your business name that you and your child wear would help significantly with promoting the business. You and your child can both come up with a rate to charge customers, as well as who would be taking on the task of gardening services and who would be in charge of lawn care.
3. Cleaning Services
Some people are too busy with work and errands to clean their houses the way they want to. In cases like these, they tend to hire people to do it for them. You and your kids can utilize the skills gained doing chores around your house and turn it into a business. Tasks like sweeping, washing dishes, vacuuming and dusting are ways for you and your child to earn money from friends, family, and neighbors.
Advertise by printing t-shirts, posting on social media, and posting flyers on community billboards or grocery stores to get the word out.
4. Lemonade Stand
Starting a lemonade stand business with your kids may sound old-fashioned, but it works! Having a lemonade stand teaches your children how to start, own and operate a business. It also teaches them how to build customer relationships and the value of the dollar.
After making refreshing lemonade and selecting your preferable packaging and straws, you can set up a booth right outside your home. Additionally, be sure to include a vibrant sign handcrafted by you and your kids.
5. Digital Liaison
If your kid is technologically advanced, try helping them to start a business offering tech services, especially to seniors. They could set-up their smart devices so the seniors can see and speak to their grandchildren and help to program all the smart energy devices around their home. Also if your kid is a coder, help them design an app and sell it in the Apple App Store for profit.
These are good examples of partnering with your child’s passion to make profits and teach entrepreneurship.
Kash Kids is an organization enthused about teaching kids financial literacy. We are passionate about helping kids learn the value of money so they will be well equipped for the real world.