Why your Kids Should Start a Business

We all know the benefits of being your own boss. You set your own schedule. You have control over your future. Your actions directly benefit yourself and your family.

But, what about your children? As soon as they get old enough to drive, they are oftentimes sent out to get a job. But is that really the only option for them during this season of young adulthood?

Sure, the typical teenage job can help your child learn the valuable life lesson of learning how to work for others before working for yourself. But, have you considered, as an alternative, helping your teen to start his own business? Here are some of the benefits to having your teen work for himself, rather than someone else.

1. Flexible schedule: Much like the crazy busy lives of adults, teenagers have much to balance these days, between friends, school, extracurricular activities, sports, community involvement and more. Rather than be tied to what the boss at the local movie theater needs, your teen can schedule his work around the other priorities of life.

2. Money: Many businesses that teens can start on their own have very little overhead and pay much more than minimum wage or a low hourly rate. They’ll make more money, often in a shorter amount of time.

3. Experience: Your teen will have a tremendous advantage when applying to colleges and in future job searches if he has succeeded in following his business plan and working it successfully.

4. Fun: Your child will be able to work at something he actually enjoys and looks forward to.

5. Hard work and responsibility: It takes hard work and responsibility to earn money. I can’t just show up and get a paycheck.

6. Future business skills: Budgeting, promotion and advertising, taxes, customer service, banking skills and more come with your own business.

7. Strong people skills – when you own your own business, you’ll have to deal with a wide variety of people in many situations. You can’t just “let someone else handle it” as you might be able to in a typical teen job.

8. Long term potential – depending on the business your teen starts, it could prove to be a business that will sustain him throughout his college years and into his adult life.

9. Educational – in order to stay on top in any business, you need to continue learning about that business. Your teen will be forced to continue to learn and grow to keep his business successful.

So, talk with your child… see if any of these benefits make sense to you and him. And then start looking for the right business to start together. That’s when the real fun begins!