Businesses You Can Start with Your Kids

Starting a business has a host of benefits for a young mind. A child or teen can learn the importance of financial responsibility, how to build professional relationships and how to be independent. But depending on their age, they likely won’t be able to get a business off the ground by themselves. If you’ve always wanted to start a business yourself, why not take the opportunity to encourage your young entrepreneur and launch a company together? Here are a few ideas for businesses you can start with your children.

  • Cooking and baking
  • Public interest in upcycling and recycling clothing and other items has led to the success of stores such as ReStore and vintage clothing shops. Collect unwanted items from neighbors, friends and family members, restore items to better quality, and sell them for fair prices. It’s a great way to be green and make some money from previously unwanted items. Whatever new opportunity you and your child choose, this is a great time to teach the importance of work-life balance, responsibility and the importance of taxes. Encourage young entrepreneurs to try their best and seek success with their new business. Even if it doesn’t turn out as planned, you can show them that adversity is a part of life, and that failure is an opportunity to retool an idea or open a door to a new opportunity.

  • If your teen excels in a specific subject or has exceptional grades, encourage him or her to assist those in need of help through tutoring services. Your child can get paid for his or her knowledge and time spent helping others learn a skill or subject matter. This type of business is scalable, and live videoconferencing and electronic payments can bring your child’s skills online as well.

  • Social media consultant

    Kids are absorbing tons of social media knowledge at a young age. They’re becoming YouTube and Instagram stars with millions of followers for just being themselves. This could be invaluable knowledge for small businesses in your area. Encourage your child to apply his or her understanding of social platforms to consult for local shops and restaurants.