An enterprising teen could start a lawn care business in their own neighborhood, going door to door offering their services for mowing, raking, maintaining and fertilizing.
Teenagers are often encouraged to get jobs by their parents, but young people with a more entrepreneurial spirit might be better served by cutting out the middleman entirely and starting a business of their own. While starting a business from scratch is never easy, especially for a teenager, moms and dads should encourage their kids to pursue their dreams. Better yet, a teen who wants to start their own business provides the perfect opportunity for parents to help teach about financial responsibility.
Planning
Starting a business shouldn’t be taken lightly, making it important for teens to plan ahead. The first step should be for young people to decide exactly what their business will entail. There are plenty of business opportunities teens can take advantage of. For instance, an enterprising teen could start a lawn care business in their own neighborhood, going door to door offering their services for mowing, raking, maintaining and fertilizing. For young people with a more academic bent, starting a tutoring service may be a good idea. Offering to tutor fellow students in subjects the teen excels in for a small fee can result in big business fast.
Once a teen has a firm grasp of what their business will offer, it’s time to create a business plan. A business plan is intended to act as framework for not only how a business will be started, but how it will succeed. It should include things like what services a business will offer, how it will be organized, how it will be marketed, how it will be funded and any other pertinent information.
Legality
Depending on the business, teens may need to register with their local government. Young people should research laws regarding teen labor and business laws in their area.
“In most states, minors cannot legally enter contracts without the approval of an adult,” states an article from The Houston Chronicle. “In addition, the 2010 Credit Card Reform Act has made it impossible for anyone younger than the the age of 21 to apply for a loan without an adult older than 21 co-signing. Teens seeking to start a business will need an adult partner to legally run and finance their business.”
Certain activities require licenses, as well. In order to stay on the right side of the law, young people should do all they can to figure out what the regulations are for their business type and their region.
Marketing
Once a teen has a business plan in place and makes sure they’re in compliance with the law, the next step is getting the word out. Businesses require customers, and marketing is necessary to obtain them.
While there are many ways to market a business, including advertising with fliers and cards, young people shouldn’t be afraid to put their social media skills to the test. Sites like Facebook and Twitter are free for users, and teens can create accounts for their business to help get the word out. Another option is using an online job board like Craigslist, which will allow teens to advertise their services for free.
Of course, the best way to get customers is to provide a quality product or service. Nothing helps a business succeed quite like word of mouth, so focusing on doing a good job in whatever endeavor a teen chooses will make all the difference in their business’ success.