Basic Kids Business

ObjectiveTo give children the opportunity to create their own home business and make their own income; giving them the understanding of business planning, promoting, money skills, earning and selling.
Description Kids Business

Have you kids create a small business based on their individual talents and interests.

Steps:

1. Talk with your kids about what they like to do and what they are good at. Make a list of four or five activities that they like and talents that they have.

2. Brainstorm with your children about potential businesses they could create around their likes and talents. Here are some examples:

  • If your child enjoys painting or drawing they could create a few paintings and sell them in the park on a nice day.
  • If your child enjoys sports, dancing, acting etc. they could plan a tournament or a show case and charge admission.
  • If your child enjoys gardening they could start a landscaping company.

3. Once you have brainstormed a few business ideas, have your child choose one that they would like to create.

4. Work through the basic planning for the business with your child. Get them to answer the following questions and write their answers down:

  • What are you selling?
  • What will your expenses be?
  • How much will you charge?
  • How much will you have to earn to cover your expenses?
  • What will you have to do in order to make this happen?
  • When, where and how long will you operate this business for?
  • How will I let people know about my business?

 

5. Once you have planned out the business, help you kids to get organized and set up their business.

6. After they have completed their business ask them what went well with the business and what they would improve for the next time. Ask them if they think the business was successful and why they feel this way.

 

 

 

 

Complete When

Mark this activity as complete when your child has created and operated at least one business.

Track your progress and earn badges!

This activity is included in the following:

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Age Range 6    7    8    9   
Activity Type Business
Tags Creativity  Money  Budgeting  Marketing  Interpersonal Intelligence  Intrapersonal Intelligence  Counting 
CreatedCindyCindy
Last ModifiedRobRob

References

Reference Reference Note  
All Terrain Brain

This is a kid friendly business builder spreadsheet that kids can use to calculate their expenses, break even point and set a profit goal.

Business Builder

Biz Kids

Here are some websites with information for your child about being a young entrepreneur.

Biz Kids Start A Business

Questions or Comments

  1. DANCE101DANCE101 says:

    I am doing a mini library shed in fornt of my house!

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