As a kid, you can turn your passion or skill into a profitable business.
One thing you should know is that business is not just limited to a particular age range.
As a child, you may be interested in having your own business, having a good idea, but unable to start because you do not know how to go about it.
This is a comprehensive guide for you to birth that dream of yours.
Reasons for Children to Start Business.
There are numerous reasons why children should venture into business. Starting a business as a child can teach you valuable skills such as:
- Entrepreneurship
- Financial literacy
- Time management
- Leadership
Based on a study that was carried out by Junior Achievement, it was discovered that children who start businesses are more likely to build up these skills, and they have a higher opportunity to excel in their careers in the future.
Ideas for Teen-Friendly Businesses.
As children, there are different businesses you could venture into.
When choosing a business, you should consider the capital which includes the finance and other important things for the start-up.
However, as a teen, you can start with a business that requires very little money to start up.
Business Ideas With a Low Capital.
1. Sales of Handmade Craft
Children who are good at craftwork can convert the skill into a business by creating different craft designs like beads, jewellery, candles or soaps. They can sell either traditionally or put it out online through an online market store.
If you do not have this skill, you can also learn it and start making money with it.
2. Subject Teacher
As a teen who is good at specific subjects like Art, Music, Sports, Mathematics, Chemistry, English, Physics etc., you can offer to teach your peers or younger children in your neighbourhood in the form of coaching or lessons for a token.
This is a very brilliant idea that many teens have not yet discovered.
3. Retail Opportunistic Trading
This business idea is a very lucrative one for teens to start as it can generate a lot of profits.
Retail opportunistic trading is when you get high-quality items at a low price in a local marketplace and resell them in different marketplaces online for a higher price.
Examples of the online marketplace you can sell are eBay, Facebook marketplace, Jumia, etc.
4. Graphic Designer
This is quite simple for tech-savvy teens who also have artistic skills. With this, you can start a graphic design business.
You can create beautiful designs for mugs, bags and t-shirts for family and friends, then expand to the larger world or do it as freelancing for local businesses.
Steps to Start Your Business.
As a teen who wants to venture into a business and succeed, you must take certain steps to start.
These steps are;
1. Pick an Idea:
The first step in starting is to choose something you have passion for, and you are also good at because this will form your passion to grow in the business.
2. Draw a Plan:
It is a very important step to write down your goals for the business, your target market and your financials because this will give you a sense of direction and help you monitor its growth.
3. Seek for Support:
Starting a business also requires support and you should not be an island in it.
Seek support by discussing with your parents, mentors, or friends about your ideas.
4. Begin Small:
You should start with a little investment and grow gradually.
5. Learn and adapt:
Learn from those who are doing well in the business, be open to new ideas and willing to make changes.
Success Stories of Teen Entrepreneurs.
1. Mikaila Ulmer:
She is a young lady entrepreneur who started a lemonade business at the age of 4 and today, she runs a successful company.
2. Robert Nay:
He is a young American developer who created a mobile game called “Bubble Ball” at the age of 14 and sold it for millions.
Resources for Kid Entrepreneurs
Some resources can help you as a teen who has a passion for entrepreneurship and is willing to learn how to become successful in business.
1. Junior Achievement:
The Junior Achievement offers different entrepreneurship programs and resources for kid entrepreneurs.
2. Kidpreneurs:
This platform provides guides, tools, and inspiration for young entrepreneurs to start and strive in business.
3. Young Entrepreneurs Academy:
A program for kids to start and run their businesses.
Conclusion.
Remember, starting a business as a kid requires hard work, dedication, and patience, but with the right mindset and support, you can achieve your dreams and become a successful kid boss!
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