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If you love to challenge yourself, start your own business! Create a product or service that you're passionate about and gather the materials and money you need. Come up with achievable business goals and fill out the proper paperwork to make your business legal. With practice, you'll gain valuable experience and confidence.
Steps
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Write down a list of things you're passionate about. If you don't already have a business in mind, brainstorm some ideas. Make a list of the things you're really interested in. These don't need to be businesses, but just things you really enjoy. For example, you might enjoy music, building, athletics, or games. If you happen to think of business ideas too, that's great! [1] X Research source
- For example, you might already know that you want to make bracelets and sell them at a neighborhood market. Or you may just write down that you enjoy dogs, playing the piano, or drawing.
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Come up with a product or service to sell. Look at the list of things you enjoy and think of things you could make or do based on those things. This will be your business idea. For example, if you love kids, start a babysitting service or if you like crafting create small pieces of jewellery. If you enjoy drawing, make paintings or sketches to sell at local craft fairs. You could turn a knack for computers into a job designing apps. [2] X Research source
- Once you've decided on a product or service, consider if you’re mainly interested in making money with the business or whether you'd be happier treating it like a hobby.
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Gather the materials and training you'll need. Make a list of all the equipment you'll need and ask an adult to help you get them. It's also important to get training that's necessary for the job you want to do. For example, if you want to start a babysitting business, you should probably take first aid and childcare classes. [3] X Research source
- You may be able to buy some simpler materials on your own if you have a little money to work with. For example, if you want to make bracelets, you can start by buying some beads and jewelry wire at a craft store.
- If you need larger equipment, such as a lawn mower, talk with an adult about borrowing or renting the machine.
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Run your business (Also note you might not be able to do this with Covid-19 going around) in person if you like working directly with customers. If you choose to sell your product or market your services in person, find a location such as a booth or stall. Find out if there are any fees you need to pay in order to sell your items. To market services, consider going door-to-door and leaving flyers. [4] X Research source
- For example, sell homemade candles at your town's weekly market. To advertise your landscaping business, you might leave door-hanging flyers in your neighborhood.
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Create an online presence to help people find your business. Even if you're selling a service, it's a good idea to have a website so people can contact you, read reviews, and see what services you offer. Set up other social media accounts so you can show pictures of your work. [5] X Research source
- Depending on how old you are, you might need your parents’ help to set up and run your online accounts.
- For example, if you baked a cake for someone's birthday party, ask the customer if you can share a photo of the cake at the party.
- Think about incentives you can offer customers. For example, offer a slight discount if they sign up for a regular service instead of a one-time service.
- You can also reach customers all over the world by running at least part of your business online !
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Create a budget and look for investors. Make a list of all the supplies you'll have to buy, as well as things that will cost money once the business is going, such as advertising. Examine how much money you have available to start your business and how you're going to spend it. If you need money to start the business, ask your parents or family if they'd like to be investors.
- For example, take an itemized list of your business costs to your parents and tell them exactly how much money you need to start up. Offer to use some of your own money or give them control over certain business aspects, such as marketing.
- For example, if you're running a craft booth, list the fee for renting the space, the cost of tables or a tent, and the costs for your materials.
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Set realistic goals for your business. While it's a good idea to have a few financial goals, such as making money after a month or two, keep in mind that there are other ways to succeed in business. Give yourself manageable goals such as: [6] X Research source
- Building a customer base
- Selling your product or service in a new venue or area
- Getting new investors
- Getting good reviews from customers
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Create a name for your business . Choose something that will make you stand out from similar businesses and use the name when you're registering the business with your city. For example, instead of simply using your name with your product, like Beth's Beads, make a catchy name, like Bedazzled Bracelets.
- Run an online search for the business name so you can see if someone already has that business name in your area. If someone already has that name, then you can create a new name that fits your business.
- If you want, make an eye-catching logo with your business name. Include a slogan or motto to make it even more memorable.
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Get a local permit and pay any required fees. Ask your parents to help you get a business permit. You'll have to go to the city hall or use the city's government website to access the application forms. You may also need to pay a fee (which is usually around $50 in the U.S.), but then you'll be legally allowed to operate your own business! [7] X Research source
- If you're unsure of what's required to set up a legal business, contact a local small business association and ask for guidance. Check local community centers or do an online search for small business associations in your city.
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Pay taxes if you make more than $400 in a year. Keep track of your income and expenses for the year. If you only have a few expenses, write them down in a notebook. For more complex expenses, use computer software to log them. If you earned more than $400, you'll have to pay self-employment tax. Your parents will still be able to claim you as a dependent for their tax purposes, but you'll have to pay taxes on your business. [8] X Research source
- For example, if you made $825 and spent $200, you'd have to pay taxes because you earned $625.
- You may want to set aside 10 to 15% of your income so you're prepared to pay any taxes you might owe.
- Tax laws vary from one place to another. If you live outside the U.S., check your local laws to find out if you need to pay taxes on your business.
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Distribute flyers or use social media to market your business . Make or print signs and flyers that you can leave at shops, community centers, grocery stores, or schools. Use social media to let customers sign up for newsletters, send coupons, or remind them of upcoming sales events.
- Ask your customers to leave reviews online to help spread the word about your business.
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Reevaluate your goals if you're struggling. It's easy to be frustrated in the early stages of starting a business, but remember that your business needs time to grow! Build up a solid product or service and focus on taking care of your customers. If you feel like you're ready to give up, return to your goals and consider changing your deadlines or expectations. [9] X Trustworthy Source Harvard Business Review Online and print journal covering topics related to business management practices Go to source
- For example, if you haven't been able to turn a profit after 2 weeks, give yourself more time or set a goal of getting 2 new customers instead.
- If you came close to meeting a financial goal, try setting a few smaller goals that will help you achieve it.
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Community Q&A
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QuestionCan a kid start a company?This answer was written by one of our trained team of researchers who validated it for accuracy and comprehensiveness.wikiHow Staff EditorStaff AnswerYes, but you’d need a parent or guardian to be an authorized signer (someone who can make decisions about the business and has access to the money, bank accounts, and so on). The laws vary depending on where you live, so ask an adult to help you research the best way to start a company in your area.
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QuestionIs it legal to run a business from home?This answer was written by one of our trained team of researchers who validated it for accuracy and comprehensiveness.wikiHow Staff EditorStaff AnswerIt depends on the business and on local laws and regulations where you live. Depending on what you’re trying to do, you might need a permit to run your business at home. Local laws might also prevent you from doing things like putting up signs or advertising in your neighborhood.
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QuestionWhat can kids sell?This answer was written by one of our trained team of researchers who validated it for accuracy and comprehensiveness.wikiHow Staff EditorStaff AnswerArts and crafts are always a good choice. You can also sell food items, like cookies or lemonade, but check local laws about selling homemade food in your area (for example, you might need to package or label the food in specific ways). Another option is to sell services, such as babysitting, pet sitting, or lawn care.
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Tips
- Make a few high-quality products, rather than many sloppy ones.Thanks
- Make sure the price you charge for your product is higher than the amount you paid to create it. That way you will earn money and not lose it.Thanks
- You can also work with a business partner, such as a friend or family member.Thanks
Tips from our Readers
The advice in this section is based on the lived experiences of wikiHow readers like you. If you have a helpful tip you’d like to share on wikiHow, please submit it in the field below.
- You can easily start your own business in your driveway. Just make sure to put up signs so people know what you're doing, and check your local laws to see if you need a permit or license before selling.
- Practice running your business with your family first. They can give you tips on how to improve your selling skills, plus give you referrals so your initial launch is successful.
- Decide your target consumers before you start! If you are targeting kids, make your fliers bright and colourful. If you are targeting adults, make it simpler and more elegant.
- Surround yourself with a team that is as interested in your business as you are. That way, you'll work well together and everyone will pull their weight.
- Ask your mom or dad to help spread your business around. If you're starting a babysitting business, for example, your parents can tell other adults.
- Be polite with the customers who say no. Even if they are rude, you could say, "I understand. Thanks anyway!" or "Okay, thank you for your time!"
- If you're close with anyone who owns a physical store, ask them if you can sell your goods there.
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References
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://www.inc.com/colleen-debaise/how-to-come-up-with-brilliant-business-idea.html
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://www.businessnewsdaily.com/10278-legal-business-tips-for-kids.html
- ↑ https://www.entrepreneur.com/article/276753
- ↑ https://hbr.org/2016/01/why-i-challenged-my-kids-to-start-companies-before-college
About This Article
Article Summary
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To start a business as a kid, start by thinking of a product or service to sell, like selling homemade cookies. Once you have an idea, make a list of the materials and equipment you’ll need, such as baking pans and ingredients for your cookies. Next, find a place to sell your products, like a booth or stall at a local market. Then, get the word out about your business by making colorful fliers and asking local shops or community centers to display them. For tips on how to create a website for your business, read on!
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Thanks to all authors for creating a page that has been read 382,024 times.
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"This article helped me start and grow my business."
"I love you and I hope you have a good day."
"My friends and I wanted to create a business specializing in creative arts and jewelry, and I just read this and thought, "Wow! This would help a lot!" These tips helped us get our very first customer! Thank you for writing this!"
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"I am 11 yrs old and I am trying to start a chocolate sweet business and this article broke down every aspect of it. I have a great idea and maybe my light bulb will start glowing soon. Have to get my grades up to A's first!"
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"The article helped me very much because I was going to rush the business and want it to be successful in few months, but it helped me see that it will take time and I must not rush it"
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