One thing we can do to give our kids a leg up is to help them discover how to become financially independent as many want to learn how can teenagers make money. In today’s world, there are not a lot of jobs available for teens and there are no promises when your teen is ready to be on their own that jobs will be available.
By helping your child learn how to start their own business you can help your teen learn how to make their own job and thrive even in a struggling economy. Businesses for teenagers to start is easier than you may first think. If you are intrigued to know how can teenagers make money then read on!
Entrepreneurial teenagers can disrupt markets in such a positive way, they are often full of enthusiasm and energy, whether it’s sales and using cold emailing or selling a service they often achieve great results.
Having your own way of making income can be so beneficial to teenagers. It can help support them through their studies or university course. All teenagers like having cash in their pocket and the money can help buy a car, pay for driving lessons or a whole host of other things. Having a side hustle is also great for keeping teenagers busy!
My kids have had paid work from the summer after finishing their GCSE’s they often asked me how teenagers can make money and I admired their enthusiasm. Today’s teens are switched on and many want to learn about financial literacy.
How can teenagers make money?
Teenagers are a resourceful bunch, they are not worn down and despondent, instead they see opportunity and not obstacles in their way, this mindset will help them understand how can teenagers make money in new and exciting ways.
Examples of teen entrepreneurs who smashed it!
1 Grace Beveley has upset the gym market with her resistance bands, she was at university when her brand hit the big time.
2. Ben Francis was the founder of Gymshark which he started aged 19
3. Ben Towers started a media company aged 11, he went on to be NatWests Young Entrepreneur of the Year and employed himself as an apprentice to be allowed to leave school aged 16! He is hailed as the next Richard Branson!
These three examples demonstrate just how teenagers can make money and also learn valuable skills that will benefit them in life even if they don’t hit the jackpot with their first attempt at building a business.
First steps to starting a business as a teenager.
First, your teen needs a business idea that can be used to help them build their business. Talk to your child and talk about what they like to do. When you follow your passions you find that it can be a lot more enjoyable to do the work. Discover your child’s passions and what drives them then look for business ideas that allow them to work with what they love. Before deciding on anything, it’s vital that you make sure your teen has a high speed internet connection. Even if they don’t use the internet to make money, they can use it for a lot of other things, like advertisements and managing the running of their business. If you’re in a rural area, it’s worth checking out rural internet options so your teen has exactly what he/she needs. A lot of teens that love animals start out by making pet toys or treats for their first home business.
Blogging can also be a brilliant way of starting a very low-cost business all they need is access to the internet and then they can start.
Learn the business basics like how to build a business plan, send emails, handle transactions, and grow your business. A lot of home businesses owners skip this step and dive in without really planning but having a business plan including future growth plans can be a great way to give your business an advantage. Like when you are ready to grow you can pull out your plan to make it happen. While this may not be fun it is best to teach your child how to do it right from the start.
Make your business legal. While you can sell your first few hundred pounds worth of whatever for your business you do want to go through the steps to make your business legal. Look up your local laws and what is required of businesses where you live. Most areas will require businesses to be registered with HMRC and you will need to apply for that with your child.
Funding your teens business can be a challenge. While adults can easily apply for loans to fund their startups or join crowdfunding sites your teen is likely going to have to get creative to find funding to start their businesses. The best way to do this is for your teen to work on earning what they need or by taking a loan from you to begin their business. If you plan to start helping with funding you should have your child fill out an application as if they were applying for a loan through a bank to help them learn the process.
Gather supplies for your teen’s businesses. Once you have your starting budget ready you can start gathering supplies. If you are lucky your teen picked a business that has a relatively low start-up. For many teens, this will include using items they already have in the house from their favourite hobbies that they have discovered they can use to build a business and start making money.
Businesses for teenagers to start
There are a number of ways that have already proven ideal for how can teenagers make money, look at what is already proving successful and take inspiration from that. The list below will help with that!
Spread the word for your teen to help them find customers. Often the first people to support our teen’s businesses are those that already know them and want to help them become successful. After setting up your teens business help them by sharing it with everyone on social media even if it is simply sharing a link to your teens ETSY shop or Facebook page.
Help your child manage their time and keep on top of everything that needs done for their business. Your teen may need help managing things like shipping and keeping on top of orders should their business grow well. The extra work is well worth it to set your child up for success.
Business ideas for teenagers
There are many businesses for teenagers to start, this list is not exhaustive but these ideas may get you started. I suggest grabbing a large piece of paper and start off by brainstorming ideas.
- Babysitting services – probably the lowest cost of all!
- Dog walking / pet sitting services
- Blogging – check out Top Blog Coaching for support on all things blog related!
- Crochet – make a sell your products
- VA services – help others manage their social media accounts and or cold emails etc. My 16-year-old son keeps my books for me, this gives him a real understanding of business, which he is studying at A-Level.
- Computer whizz – can you build websites or fix other peoples?
- Make and sell products, cake, artwork, clothes the list is endless.
- Buy a Cricut and make personalised items.
Tips from other self employed friends
I’d definitely recommend researching as much as possible. Read articles on creating a website, SEO, join relevant groups and chat with those who have been there before because as much fun as it can be to “wing it” if you want to start earning and doing well from the beginning it’s best to get that as spot on as you can. Https://emmareed.net
I would recommend getting as much work experience as you can, possibly helping out if you have a family member with a business, asking to shadow someone in the industry you are interested in. You can learn a lot from books but often you need to just do it to really find out about something suggests Pink Pear Bear.
I bought a bucket and a sponge and knocked on a few doors and my car washing business was born – I’d do about 5 cars every Sunday and I earned a nice wage and kept fit! HTTPS://www.eatsimply.co.uk
I learned the hard way that you need to get expert advice as early as possible. If you can’t afford to pay for their services or advice like website building, coaching, SEO etc then definitely spend time researching other successful businesses that are further down the line than you. It will save you a lot of time and money. Also, niche as early as you can, it’s a hard concept to grasp but was the best thing I ever did and I was nearly 10 years into my business when I did it! www.cheekylittleprints.co.uk
Great Resources to get started
The Young Entrepreneur’s Guide to Starting and Running a Business: Find Out Where the Money Is…and How to Get It: Turn Your Ideas Into Money!
Legend Planner – Deluxe Weekly & Monthly Life Planner to Hit Your Goals & Live Happier. Organizer Notebook & Productivity Journal. A5 Hardcover, Undated – Start Any Time – Rose Gold
