Basic 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.

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:

• Biz Wiz Badge