Business Plans for Kids

by ryan on December 22, 2016




Business Plans for Kids

 

A very good way to teach ambitious kids how to become entrepreneurs is to allow them to begin a business of their own. Many kids are full of awesome ideas but have no idea how to materialize this.

If your child has recently come to you asking you to help him/her start a business of some sort then you should not ignore this request. Sometimes even ideas that may sound silly to you at the moment could turn into something really big. Think about all of the silly inventions that people have come up with over the years and then take another look at your child’s idea.

docs-Simple-Business-Plan-Template

docs-Simple-Business-Plan-Template

It may not be as far fetched as you think. In any case,the first thing you should have your child do is sit down and write up a business plan. Business plans for kids do not have to be technical or even in a lot of detail. They should be pretty simple yet provide a good explanation of the type of business your child is trying to start. Make sure that the business your kid is trying to begin is something that coincides with skills or talents that he/she has. In other words,help your child to keep realistic goals when writing business plans for kids.

Your child should be encouraged to do his/her own research into whatever concept he/she has come up with. Have him/her do some analysis of the market by interviewing several friends and family members to see if the product or service being proposed would be something of interest to them.

Included in business plans for kids should be the method of advertising that is going to be used,the hours in which the kid will operate the business and also how the kid will run the business without it interfering with any of his/her regular activities such as school and sports. Once your kid has done all of his/her research then you can prompt him or her to start writing business plans for kids by following some examples of them online.

These can be found by doing a quick Google search.

Templates:

sales-Simple-Business-Plan-Template

sales-Simple-Business-Plan-Template




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