What Kind of Business Is Right for Your Kid?
OCTOBER 29TH, 2024
Starting a kid business is easier now than ever. With modern technology available in kids' pockets, small hands can create flyers, set up websites, or create vlogs with a few taps.
Considering 84%¹ of Gen Z wants to set up their own business one day, it's not surprising that today's teens² are increasingly inspired to become entrepreneurs.
However, setting up a venture is one thing; staying in business is more challenging.
So, once your child has expressed an interest in becoming a kidtrepeneur, how can you empower her? How can you help discover what kind of business ideas for kids suit her based on interests and personality? And, can she balance it with family, school, and hobbies?
We reveal how to introduce small jobs and chores to help her discover what makes her heart sing. Our comprehensive guide below also explains how to support your daughter in running her business while enjoying her childhood.
Considering 84%¹ of Gen Z wants to set up their own business one day, it's not surprising that today's teens² are increasingly inspired to become entrepreneurs.
However, setting up a venture is one thing; staying in business is more challenging.
So, once your child has expressed an interest in becoming a kidtrepeneur, how can you empower her? How can you help discover what kind of business ideas for kids suit her based on interests and personality? And, can she balance it with family, school, and hobbies?
We reveal how to introduce small jobs and chores to help her discover what makes her heart sing. Our comprehensive guide below also explains how to support your daughter in running her business while enjoying her childhood.
Personalities: How Can They Influence Business Preference?
When your child's business is aligned with her personality, she is more likely to stay engaged and motivated and enjoy her side hustle, boosting her confidence and business.
Let's analyze personality traits and see which business ideas for kids we can match them with.
Let's analyze personality traits and see which business ideas for kids we can match them with.
Analytical
Is your child good at problem-solving, critical thinking, and structured processes? Businesses that leverage her strengths are tutoring, buying or making and selling products.
Consider Mikaila Ulmer³, who used her analytical skills to set up a lemonade stand and protect bees. She is determined to be the US's number one lemonade seller.
Consider Mikaila Ulmer³, who used her analytical skills to set up a lemonade stand and protect bees. She is determined to be the US's number one lemonade seller.
Creativity
If your child is brimming with creative juices, try a few different things and see what sticks. For instance, let her loose on knitting, designing logos or flyers, photography, painting, pottery, or upcycling clothes. Inspire her with Elena Bonvicini's story⁴, whose EB Denim was born out of a teen side hustle upcycling jeans and now generates millions.
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Empathy
When your daughter is concerned for others and the environment, she might love a charity initiative or a venture featuring eco-friendly products. Spark ideas by checking out Carter and Olivia Ries’ nonprofit, One More Generation⁵. Empathetic kids might also enjoy service-oriented jobs like babysitting and helping busy parents or elders.
Introverted vs Extraverted
If your child is introverted, she might prefer to work independently and thrive in solitary ventures, such as writing, art, or even making slime. See Maddie Rea’s slimy venture⁶.
Extraverted kids may do better when interacting with others, such as setting up a lemonade stand or selling cookies.
Extraverted kids may do better when interacting with others, such as setting up a lemonade stand or selling cookies.
Organizational Skills
Businesses that rely heavily on well-executed planning, like event planning or companies that sell products, are suited to kids who thrive on structure. Take Cassandra Lin⁷, who used her organizational skills in founding Turn Grease Into Fuel (TGIF). They take waste cooking oil and turn it into biodiesel fuel, which is much more environmentally friendly.
If planning isn't your child's strong suit, she may prefer channeling her efforts into yard work or photography.
If planning isn't your child's strong suit, she may prefer channeling her efforts into yard work or photography.
Risk Taking
Adventurous kids will thrive creating unique ventures or serving niche markets, anything where they can explore their talents. Think (extreme) sports coaching like skateboarding or rock climbing, flipping items they buy in thrift stores, or a car wash service.
Like Erin Smith⁸, who dived into medical research and created FacePrint, an AI company that can detect Parkinson's some years before diagnosis.
Which Business is Right for Your Child?
Media mogul and philanthropist Oprah Winfrey⁹ believes¹⁰, 'The biggest adventure you can take is to live the life of your dreams.' In other words, pursuing interests and passions and doing what you love can lead to a fulfilling and successful life.
Encouraging your child to follow her passion starts with discussing what gives her joy and what she wants to do more than anything else.
Does she live for soccer? Why not offer coaching sessions to local kids? If she's a Swifty, she could take guitar lessons to teach others simple chords. Kids who love the outdoors can pot and sell plants to neighbors. A pet-sitting service, like Mia Madison’s biz, might be ideal if your daughter is best buddies with your labrador.
Getting Her Business Off the Ground
After figuring out what business ideas for kids will spark your daughter's interest, you can help her create a business plan. This step may sound daunting, but it centers on a few basic questions.
- Which business idea does your daughter have her heart set on?
- Is there a demand for her product/service? (Market Research)
- What are the (start-up) costs, and how much can she charge for products/services?
- How much time will the business take daily? Is this manageable, considering she needs time for friends, family, school, and hobbies?
If you need help making this a child-friendly process, why not use our free KidBiz kit? It contains helpful KidBiz tools, such as:
- Idea Generator - brainstorm business ideas
- Business Map - create a business plan
- Buzz Builder - attract customers
Using Chores As a First Step
If your child isn’t quite ready to launch her own business, consider introducing jobs and chores to help her build foundational skills and foster a sense of responsibility and entrepreneurship.
Try the following:
- Allowing her to troubleshoot tech issues or set up devices will help her build valuable tech skills.
- Employing your daughter's budgeting services when you go grocery shopping together will teach her financial literacy.
- Keeping her room tidy will help her develop her time management and organizational skills.
- Including her in meal prep will allow her to demonstrate her basic culinary skills, planning, and budgeting.
- Helping your daughter develop a green thumb and work ethic by gardening together.
Once she’s comfortable handling household chores, check to see if she’s ready to start her own business.
Sources:
- Parenting Tips If Your Child Wants To Be An Entrepreneur
- Survey: 60% of Teens Would Prefer to Start a Business Over Having a Traditional Job | Junior Achievement USA
- About new - Me & the Bees Lemonade
- 25-Year-Old's Side Hustle Hits Multimillion-Dollar Revenue | Entrepreneur
- Our Story | One More Generation
- Meet Maddie Rae | My Site
- Cassandra Lin turns Kitchen Grease into Fuel | In The Nook | Disney Channel
- Erin Smith | epo.org
- Oprah Winfrey - IMDb
- What Oprah Knows for Sure About Life's Biggest Adventure