Kids can start a business too!

It is summer time and the kids are out of school. One way to preoccupy them during the warm summer months is to introduce them to the joys of entrepreneurship. One way to make this summer memorable for them is to help them start a business – one that they enjoy and are passionate about.

A summer business venture can teach them the basics of business. They get to have a taste of becoming a business owner. It will be a great exercise to expose them to the value of hard work and dedication. They’ll also start learning about money, even the concept of cash flow. Plus, it will help them take pride in their creations and work.

Here are some summer business ideas for kids:

1. Online Retailing.
With your help, your child can create an online store and start selling on the Web. The key is choosing the right items to sell, preferably products that resonate with them. One option is to choose items that they think will resonate with other kids in their age group. An easier way will be to become an affiliate for other companies. This will allow the kid to earn commission from the sale, without spending money for inventory. This is the business model followed by the 15-year old entrepreneur Lachy Groom with his website.

2. Lemonade Stand.
The neighborhood lemonade stand is still the most common business for kids in the summer. It is a fun, easy business for kids. Easy to setup, your child needs to make a refreshing pitcher of lemonade and sell it by the cup. The key is to find a high traffic area to set up the stand. The stand can be a simple table with chairs for the kids (umbrella preferred) or more complex with a wooden stand. The price of a lemonade cup can be anywhere from $0.25 to even a dollar, depending on how hot is it that day. However, check with your local county if there are any restrictions or tax implications for a seemingly simple business like a kid’s lemonade stand (the last thing you want is for your kid to be slapped with a fine for operating a business without a license.)

3. Pet sitting business.
During summer, some people go off on vacations but choose to leave their pets behind. If your kid loves pets and is capable of taking care of pets, one option is to start a pet sitting business. Your kid can take the dog for a walk, feed the cat or birds, and just make sure that the pets are being taken care of.

4. Online video.
If your kid is adept in creating and editing videos, your child can use the skill to make money. Your kid can make short videos and upload them to the massively popular Youtube. If the videos are able to attract a sizeable audience, your kid can join the Youtube Partner Program and start earning from the videos through advertising.

For any of the above business ideas, parental guidance is important (even necessary). Think of this time as a way you can bond even more with your kids. And have fun while doing it!

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