How Older Kids Can Begin to Make Money Outside of the Home

Once kids reach the age of 10 or 12, getting paid for extra work around the home may not be enough. In order to make more money, kids will need to begin a business with customers other than mom and dad.

Starting any enterprise, no matter how small, can be challenging without some basic business knowledge. Kids will need to know:

Whether their product or service is in demand (i. e. if people will want to purchase what they offer) How to set a price for their product or service How to get the word out about their product or service (i. e. advertise) The basics of customer service and the importance of making customers happy How to manage expenses and income and determine if the business is profitable

Parents can mentor kids on these business basics, and/or purchase a book written for kids that explains what is needed to successfully launch a business and make money as a kid:

Some helpful books for kids include:

There are also online guides to help educate kids about what it takes to run a business. Here are a few concise ones: