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Entrepreneurial Kids - any good stories?


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Hi Hive,

 

My boys, 9 & 7, want to make money.

 

We give them $5 every two weeks for an allowance; we want them to be savvy spenders. They pay for their lifestyle - movie rentals, treat foods, lego sets (sigh) . . .

 

They both want MP3 players, which aren't cheap. So ds #1 is scheming a business. He (read *we*) are going to make doggie biscuits for him to sell, but it's so Mommy-intensive. (sigh, again)

 

What have your kids done to earn money, apart from allowance?

 

I'd love to direct them into something a bit more inspiring than doggie biscuits.

 

Anyone?

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during the Spring/Summer. Dh taught him how and now he can do small to med. sized lawns by himself. Shoveling snow might be an option (not sure where you live!). My dh was very entrepreneurial as a child and had a dog walking business, a pet/house sitting business, mail collecting business (for people on vacation). It's so hard for a 9yo to make the kind of money it takes to buy an MP3 player. One thought: We give our kids an allowance as well (or we used to before switching to the Handipoints website for chores). My dd uses her points to earn money (100pts. = $5). When we gave allowance, to encourage saving instead of frivolous spending, we told the dc that if they put the money in the "bank", we would double whatever amount they put in there. Only catch...it had to be in the "bank" for at least one month to count! My dd stills does this.

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This was during the summer. We took the lemonade stand to new heights. When we discovered some neighbors were going to have a garage sale, we asked them if we could run a concessions stand in their yard for the customers. The boys sold baked goods (cookies, brownies, muffins, banana bread, pumpkin bread -- all sliced and/or individually wrapped), coffee, soda pop, small bags of chips, hot dogs, bottled water, and some other stuff that escapes my mind right now. The boys set prices and typed up a price list to tape to the table. They dealt with the customers, collected the money, etc. I baked myself silly.

 

The thing is, it was really an educational experience. They totaled their receipts and paid expenses (I kept a running total on the grocery bill) before they could divide the profits. They each made well over $100 even after expenses were paid. This was for a three-day, multi-family garage sale that was very well advertised and well attended. My boys really hustled, too. They didn't just sit there and wait for people to approach them, although many did approach without prompting. They smiled and talked to people who wandered close by and really made their sales through initiative. (They weren't pushy or obnoxious about it, though.)

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My 11 yr ds has shovelled driveways (we get alot of snow here) and walked dogs to earn extra money. He also has done odd jobs like chopped firewood for my brother, stacked firewood, etc. In the summer he will mow lawns.

 

My 11 yr dd began babysitting this year. She is very responsible and mostly does after school, an hour here and there -- and it's always been in a home close to where we live.

 

My 10 yr old hasn't quite found his entrepreneurial spirit.

 

We do teach our kids that some jobs are "acts of service" -- work done to help someone in need. So my son shovelled the driveway of a police officer this winter because the officer had broken his arm. This was not for pay. And my daughter walked a little boy to school each morning because the mom has four kids under 6 and they live near our home (which is down the street from the school). This was also for free. (This one was kind of unique given that my daughter learns at home and was walking a kid to the school that she would be attending if she wasn't homeschooled.)

 

And we teach them to have good work ethics so that they would have a good reputation and be called back to work (and maybe have their name passed on to others as a recommendation).

 

Rose

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DS16...mows neighbors yards. He is 16 and it pays him to do this instead of having a real job. He makes $20-25/hr.

...shovels driveways in winter...$10-15/house

 

DD 13...She made bottle cap necklaces, got a display board and sold them in our co-op.

...This year she is making beaded jewelry and selling them the same. She also started a website to sell her jewelry to her friends and anyone else interested in them...

 

http://www.freewebs.com/jewelrybydesign/

 

This website is FREE! (As long as you don't add the 'extras')

 

...Babysits, $5.00/hr. She has one job that is every week watching 3 kids after school on Mondays.

 

...Sells some things on ebay.

 

...Had a pie business at one point.

 

...With her younger sister, they had a neighborhood carnival and invited people from our co-op and neighborhood. (mom intensive)

 

DD11....dog sits in summer, one family, one week, $80.00 (I'd like that job!)

...babysits with older sister (They share the $)

 

DD9...does jobs for her grandmother who is willing to pay a small amount to her. Lemonade stands.

 

DD7...Not there yet!

 

 

HTH,

Whitney

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Ds10 has had a baking business for 2 years now. He makes zucchini, banana, or pumpkin bread in three sizes (small, medium & large), with or without nuts. He started with a zucchini bread stand at the end of our driveway. He sold out within 30 minutes! He then started to get phoned-in orders from neighbors and church friends and a business was born. Most of his orders now are standing orders from people who want a delivery once a month. It was mommy-intensive at first. I helped him (and taught him) how to bake the bread. Then I stayed in the kitchen to supervise and to correct mistakes as needed. Now I'm only in the kitchen if it is a really large order and he needs extra help.

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Ds10 has had a baking business for 2 years now. He makes zucchini, banana, or pumpkin bread in three sizes (small, medium & large), with or without nuts. He started with a zucchini bread stand at the end of our driveway. He sold out within 30 minutes! He then started to get phoned-in orders from neighbors and church friends and a business was born. Most of his orders now are standing orders from people who want a delivery once a month. It was mommy-intensive at first. I helped him (and taught him) how to bake the bread. Then I stayed in the kitchen to supervise and to correct mistakes as needed. Now I'm only in the kitchen if it is a really large order and he needs extra help.

This is a tall order, but do you have recipes to share? Or does any basic zucchini, banana, or pumpkin bread recipe do the trick? I know my boys would *love* to do something like this to earn money.

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My 11 yo ds earned a lot of money last summer. He mowed a few lawns regularly. Basically, he made up a flyer advertising himself. His "thing" was that he was environmentally friendly - he mowed with a push mower. Neighbors thought this was great!

 

He walked dogs, gathered mail and watered plants when people went on vacation, etc.

 

Last summer he also cleaned the bathrooms at our local Little League field. He was paid $10/night (for two bathrooms!). He earned several hundred dollars doing that! This summer my 10 year old is going to split it with him.

 

I love the idea of asking neighbors having a garage sale if they could set up a lemonade/baked good stand! I'm going to mention that to my boys!

 

I also have to brag just a bit. My 11 is really into rockets (when I say "in" to rockets - I mean it - he lives, breathes and sleeps rockets!!). Anyway, he spent last summer figuring out how to make igniters for high powered rocket motors. These things usually sell for $2 - $3 a piece. He figured out how to make them for $0.25 each. He contacted the local hobby store and gave the owner a bunch to test. He contacted my son and asked for hundreds of dollars worth to sell to his customers!!! Well, turns out the people at the ATF aren't so keen on people selling explosives, so my ds did a trade with the hobby store owner (for more rocket making supplies of course!!!). He has loyal customers to this day!!!

 

Good luck to your boys!!!

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....we paid our kids half of what we would've paid my farm help for any work they contributed to the market farming. They were required to spend a minimum of one hour to get paid. They were a huge help. Now that we aren't on the farm, their income sources are limited and it "hurts" because their opportunities to spend money have increased tenfold! We have never done allowances, but rather try to pay them for meaningful work. We're having to be more proactive and creative about ways for them to make money now.

 

For three years now, they both enter a special holiday craft show. Each has one or more project, and they've had varying rates of success. This past year, my oldest made suncatchers/wind chimes using beach-found sea glass and drift wood. They were very popular and she made a good bit of money, especially since she had virtually no money in the materials. The younger daughter had more options - pressed paper ornaments, hand-made wrapping paper, marbled cards -- but didn't do as well. If your kids are at all into crafts, they might seek out an appropriate venue to sell their work. Or even organize a show for all kids and bring in other children from the neighborhood.

 

My 13yo had a job at our farmers' market last summer, helping a farmer keep her tables stocked from the truck. She worked 2.5 hours and made $25 each market. This year, the farmer has asked her to be her all day help, so she'll work longer hours but make twice the money. She's not big on babysitting, but she does it on occasion.

 

Dd11 wants a job but it's harder for her to find the right thing. We're hoping to set her up with some pet sitting opportunities alongside a little business of selling pet treats at the market. The treats themselves may be intensive work, but like you, we're hoping to build lifelong entrepreneurial skills in our kids, so we see it as a good investment in her future. This child will be a great babysitter when she's old enough.

 

Doran

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I'm trying to cultivate/encourage this entrepreneurial thing that has surfaced in my boys for many reasons -- the short-term so they can buy something they want by earning the money themselves. They'll have a real sense of satisfaction, I dare say. Long-term, so they can find a way to support themselves during their university years.

 

There is a homeschooling family out there somewhere that has developed software that teaches young people the ins and outs of the stockmarket. I think they were a Christian family operating under the premise that their sons could buy a home outright in cash before they married, so that their wives could be at home, should they desire that.

 

Anyone know what I'm talking about? I stumbled over the site quite a few years ago.

 

Interesting ideas for kids and cashflow!

 

The mother in me wants to bless them hand over foot (give them whatever they want) but I've seen how that plays out in the long-term and it's not pretty.

 

Cheerio,

Tricia

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This is a tall order, but do you have recipes to share? Or does any basic zucchini, banana, or pumpkin bread recipe do the trick? I know my boys would *love* to do something like this to earn money.

 

The zucchini and banana bread recipes are just the standard one - (ours is from the Better Homes and Garden cookbook - but I looked at other cookbooks and it's the same).

 

Our pumpkin Bread recipe: (makes 2 8 1/2 x 4 1/2 loaves or one double loaf)

 

preheat oven to 350* F.

 

Ingredients:

3 c. all purpose flour

1 1/2 c. sugar

1 1/2 c. ground cinnamon

1 tsp. baking soda

1 tsp. salt

3/4 tsp. ground nutmeg

3/4 tsp. ground cloves

1/2 tsp. baking powder

3 eggs

1 16 oz. canned pumpkin (not pie filling) or 2 c. home-pureed pumpkin

1 c. salad oil

1/2 c. walnuts, chopped (if the customer wants nuts)

 

Mix dry ingredients in separate bowl. Mix wet ingredients in mixer bowl. Slowly add in dry ingredients to the mixer bowl. Stir in walnuts if you want nuts. Pour into greased loaf pans. Bake 1 hour 15 min. (but we start checking it at 1 hour) or until toothpick comes out clean. Cool in pans on rack 10 min. Remove from pans. Cool some more on racks.

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I also have to brag just a bit. My 11 is really into rockets (when I say "in" to rockets - I mean it - he lives, breathes and sleeps rockets!!). Anyway, he spent last summer figuring out how to make igniters for high powered rocket motors. These things usually sell for $2 - $3 a piece. He figured out how to make them for $0.25 each. He contacted the local hobby store and gave the owner a bunch to test. He contacted my son and asked for hundreds of dollars worth to sell to his customers!!! Well, turns out the people at the ATF aren't so keen on people selling explosives, so my ds did a trade with the hobby store owner (for more rocket making supplies of course!!!). He has loyal customers to this day!!!

 

Wow! Brag away! That is so cool! What a great way to capitalize on his special interest and the customer's need. Is it dangerous at all to make the igniters?

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I have a standing agreement with my kids that at ANY time, if they want to earn a little extra money, I will give them a choice of extra jobs to do. My ds often will garden for me in the warm months. Other jobs would be washing walls or baseboards, scrubbing grout, etc.

 

While it's never been formalized, they also understand that their grandparents will hire them at any time. Their grandparents pay far more generously than I do, and the tasks are usually much easier. :p

 

My daughter also runs two "businesses." One is called "Wacky Wires." She makes nifty wire creations like pencil toppers or jewelry for sale. She has a stock to choose from but also makes custom orders. These things sell for $1 or less. The down side is that her friends have all bought from her and no longer desire wire creations, so business has slowed down considerably.

 

Her second business is manicures. She has a rate schedule of up to $2.50 for a full, fancy manicure.

 

My ds keeps trying to sell off old toys or pictures that he whips up. He gets discouraged, though, because the stuff just isn't selling. After the initial rush of relatives who were willing to buy, now no-one is buying. One suggestion might be to allow your boys to have a ONCE a year garage sale.

 

I am *always* willing to hire kids to clean up my property or weed my gardens. (I *hate* gardening.) I will also almost always buy baked goods.

 

Another idea for them to consider is offering face-painting services.

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my oldest son is always looking for ways to earn extra cash. last year, when he was 8, he got permission to participate in our community's holiday craft fair (usually open only to older crafters, artists, etc). he sold paper art (i.e. origami, gift tags, ornaments, etc) not only did he make a tidy little profit, but he learned some other valuable lessons as well (follow thru on commitment, hard work ethic, etc). it was a GREAT experience for him!

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Wow! Brag away! That is so cool! What a great way to capitalize on his special interest and the customer's need. Is it dangerous at all to make the igniters?

 

Thanks Jean! I try not to think of the danger!! He belongs to a rocketry club and most of the members are men who are older than dh and I with lots of experience in rocketry. He asks them all the questions. I truly don't understand all of it, but I trust these men. He does do a LOT of experimentation with different types of chemicals. I make sure he's asked on his club website about how safe it is. He lights them outside and we keep a close eye.

 

I think the glues he uses are much more dangerous than the chemicals quite honestly. He's having a hard time right now because it's too cold to use the glues outside and I won't let him use them inside.

 

He has Asperger's and he is truly happy when working on rockets. I see that your 10 yo is a science guy. What is his interest?

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My DD10 is always making money at something. ;)

 

She made some of those ink pens with flowers attached to the ends. (Dollar Store bundle of fake funky flowers, .88 package of 10 ink pens and some floral tape.) She sold them to friends/neighbors, etc. She never went door to door, but she almost always had a few with her. "Look what I'm making! I hope to sell some." She even sold one to a cashier at the grocery store once, just because she had a couple sticking out of her purse and the cashier thought they were cute!

 

She's made "Pencil Buddies" for the boys out there, cute monsters, etc. with pipe cleaner tails that wrap around the pencil.

 

She wraps hair clips with ribbon in the colors of the local high school and has sold a few of those.

 

She glues some cute (cheap) fake flowers onto bobby pins, using a technique of securing it with a fake leaf. (We saw these at a fancy store, selling for $6 each. DD's are actually better quality.) People buy them!

 

She's currently working on some nail art with stickers and stick-on jewels to try and "sell" to her friends. I'm trying to talk her out of this one, because it seems like something she should do in fun and friendship, without the intent to sell. She doesn't normally sell things to close friends, she normally gives them in the interest of friendship. I don't want to see her lose that.

 

There are other things, I can't remember at the moment, but she's crafty/creative, so we'll see things at stores and think of a way to do it on our own.

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Jean,

Thanks so much for the recipe. I'll be trying it out. One last question: How much does your son charge for his loaves?

Thanks!

 

Not enough! We subsidize a large portion of the cost. He pays only for the main ingredient (zucchini, pumpkin or bananas).

 

He charges $3 for a large, $2 for a medium, $1 for a small. Extra nuts or chocolate chips are $1 extra.

 

Most of his clients give him an extra "tip".

 

We made the prices small because esp. at first his customers doubled as guinea pigs!

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