Teaching your kids about entrepreneurship is important. Your child will use the skills they learn throughout their school years and well into adulthood. One day, it’ll help improve their careers as well as their personal lives. These skills include effective communication, hard work, and resilience after disappointment.

Your child will gain tremendous value from the experience of starting a business, and with so many fun business ideas for kids, they're sure to enjoy themselves. Children gain many benefits from being exposed to business activities during their formative years. They'll have a strong appreciation for money, improve their people skills, and grow their creative thinking.

Five Business Ideas for Kids

The following business ideas for kids all help children grow and learn. There are jobs here that even a small child can succeed at, as well as ones that are geared more toward older, more independent children. 

1. Lemonade Stand
   
   It's a classic business idea that has been around for generations, and it's a great way to teach your child the value of hard work, money management, and entrepreneurship.
   
   To get started, help your child find the perfect location. This could be in front of your house, near a church, or in front of a grocery store. Make sure you’re not breaking any laws and that you have the proper permits. 
   
   Help them set up a table and show them how to arrange supplies attractively. You will want to make sure that the lemonade looks refreshing and delicious, and that the table is inviting to potential customers. Encourage your child to use their creativity to make signs to advertise the lemonade stand. 
   
   When it comes time to sell, make sure your child understands the importance of keeping track of their expenses and their profits. Help them subtract the cost of supplies from their total sales to figure out how much money they made. This is a great way to teach your child about basic math skills and the concept of profit and loss.
   
   A great way to create and launch a lemonade business is through the use of our Lemonade Day app.

2. Dog Walking and Pet Sitting
   
   Among the many business ideas for kids, pet sitting and dog walking are fun ideas. It’s a great way for your child to earn some extra cash while spending time with cute and cuddly animals.
   
   Your child will enjoy the profits of this business idea that has little overhead. It’s a large responsibility, so start small with your closest family and friends. 
   
   As they gain experience, they can advertise through notices and social media. Make it clear that in addition to walking, feeding, and cleaning up after the pet, they need to play with it and show it love.
   
   Your child will need to be reliable, trustworthy, and able to handle any unexpected situations that may arise. But with the right guidance and training, this can be a great learning experience for your kid, while also giving them a chance to earn some extra money.

3. Yard Work
   
   Yard work is a wonderful way for kids to make some money. If they show interest in helping you and do a good job, it’ll be easy to get them started. 
   
   Have a discussion about what services they want to offer. For example, they could mow lawns, rake leaves, or shovel snow. 
   
   Determine which tools you’ll allow them to use and whether they’ll need to use the homeowner's supplies. Have them start with your neighbors before handing out flyers to others. This allows them to slowly build a good reputation.
   
   Remember, safety should always be a top priority. Make sure your child is properly trained on how to use the equipment and that they're always supervised while working. Encourage them to wear protective gear like gloves and eye goggles to prevent any accidents.
   
   A yard work business is a great way for kids to earn some extra cash while learning valuable skills. Just make sure to take things one step at a time and prioritize safety throughout the process.

4. Homemade Crafts
   
   If you’re looking for creative business ideas for kids, selling their homemade crafts is ideal. 
   
   Many children are talented when it comes to making jewelry, artwork, and other crafts. Whether they're into jewelry making, painting, or creating other types of crafts, there's a good chance that they're already pretty good at it. And the best part is that this can be a fun and educational experience for them!
   
   It's especially nice for older kids. They can learn a lot about purchasing supplies and charging enough that they’ll still have a profit. They can sell their products through online websites like Etsy, at local craft fairs, consignment shops, or flea markets.
   
   Selling homemade crafts can be a great business idea for kids. It's a fun and creative way for them to learn about entrepreneurship, and it can even help them earn some extra money.

5. Tutoring
   
   Offering tutoring services in a subject they excel at is a terrific way to earn money and learn some business skills. While this job does offer some flexibility, you need to let them know that they’ll be working around their customers' schedules. 
   
   Have them start with one subject that they are really good at. This job will help your child learn patience, build their self-esteem, and give them a sense of pride.
   
   But it's not just about making money. Running a tutoring business can also help your child develop important life skills. For instance, tutoring requires patience and good communication skills. Your kid will need to be able to explain complex concepts in a way that their students can understand.

The Benefits of Starting a Business at a Young Age

Learning how to manage a business at a young age is one of the best learning experiences a kid can have. The following are just a few of the many benefits your child will find from their first steps into the business world.

Learning Crucial Life Skills

You’ll love watching your child learn to budget and problem-solve. You can make marketing fun by encouraging them to make their own signs and flyers, and the customer service skills they develop will help them for many years to come.

Increasing Self-Esteem and Confidence

You’ll see their confidence grow each time a new customer asks about their products or services. This, along with being able to make their clients happy, will build up their self-esteem, and help build character with each transaction they make.

Developing a Strong Work Ethic

By committing to a job, your child will learn a work ethic and a sense of responsibility. They’ll discover the importance of showing up on time, following through on a promise, and the reward that comes with hard work.

Gaining Financial Literacy and Money Management Skills

This is the perfect opportunity to explain financial literacy to your child and how it takes money to make money. Help them understand that a certain amount of funding is needed to purchase supplies for their endeavor. 

This could be lemonade, cups, and napkins for their lemonade stand or materials such as fabric, glue, or beads to create their crafts. Teach them how to come up with a price that covers these things and still leaves some extra for their pay.

Fostering Creativity and Innovation

Your child can do any of these jobs in the same way everyone else has for years, or they can learn about innovation. Creativity is the driving force behind innovation. Encourage them to find new ways to market their products or services. They’ll see how standing out from others will get them noticed.

Tips for Parents to Get Their Kids Started

As a parent, there are many things you can do to help them start their business and learn lifelong skills from the experience.

Encourage Their Interests and Passions

If your child doesn't already have an idea of what type of business they want to start, have them make a list of their favorite things. 

When they build a business out of their passions, they won't lose interest, and they’ll enjoy the experience. Don't tell them an idea won't work. This is a learning process, and failure is a big part of it.

Teach Them About Budgeting and Financial Management

This is the perfect opportunity to introduce your child to money management. Younger kids can learn to add up prices and count change. Older ones can start calculating gross profits and managing overhead. 

Instead of simply giving them the money to start their business, tell them you’ll fund it if they contribute their own money. You can even encourage them to pitch their business ideas to you during a meeting.

Help Them Develop a Business Plan and Marketing Strategy

Have them think about everything it’ll take to turn their business ideas for kids into a reality. 

Have them list the equipment and supplies they’ll need. Then have them write down their goals. This should be how much money they want to make as well as what they want to get out of the experience. 

Make it fun to revisit these goals later on.

Provide Support and Guidance

Provide support and guidance, but allow them to make mistakes and learn from them. This adventure isn't just about making as much money as possible. 

It’s a wonderful way to teach your child about disappointment and how to move on from it. 

Resist the urge to jump in and correct their mistakes. Letting those situations play out naturally will be a great learning experience.

Encourage Them to be Charitable

Encourage them to give back to their community by donating a portion of their profits to charity. 

They need to understand that without the community, their business won't succeed. Teach them how being charitable can be connected to their business. 

For example, if they are dog-sitting, they could donate a certain percentage of the profits to the local animal shelter. Just like all businesses, they can tell their customers that part of the money they spend will go to a good cause. 

They’ll discover how being charitable promotes a business, and they’ll feel really good about themselves and how they helped others.

Start Them On a Successful Path

Your child will enjoy future success because of the positive impact that starting a business at a young age provides. Use guidance, any resources you may have, and encouragement to support their entrepreneurial ambitions. 

You’ll find that it’ll promote the values of hard work, responsibility, and community engagement. They may start with a simple lemonade stand, but with some creativity and ingenuity, their passions can turn into a profitable and fulfilling business.