How to Start a Business as Kid

Kids should start a business the same way that adults do—by making a budget, business plan, obtaining funding, getting approval for their business plan, and marketing their new company. Before kids begin to work on the first steps of setting a business plan, they should always discuss their ideas with their parents or guardians beforehand to make sure the idea is safe and reasonable.

Difficulty: Moderate

Instructions

1. Make a budget. Figure you how much money you will need to get started by making a list of all the items you will need to start your business. When you make your list, also think about what items you will only need to buy once and what you will need to restock as you run your new business.

2. Make a business plan. To make your business plan, write down what your business will do, how much time you want to put into it every week, where you will run it, and how much money you would like to make from it.

3. Get funding to get your new business started. If you don’t have enough of your own money to start your business, you may want to talk to your parents and relatives to see if they are willing to loan you the money you need to get your business running.

4. Advertise your business. Once you have a business plan, supplies, and feel prepared to start your business, advertise your product or services to your friends, family, and community members. You may want to make posters and flyers to pass out giving the location, hours, and opening date for your business.

Resources

• Kids Starting a Business