Helping your child start a small business is a great way to teach them about money and the value of a dollar. One great option for helping kids earn their own money is to help them make and sell crafts.
Teaching your child how to start a business can be more impactful than giving them an allowance.
Find a craft that your kids enjoy making and are good at creating, and then use one or more of these options for your kids to sell their crafts.
Ways for Kids to Sell Their Crafts
1. Take orders from friends and family members
This is a good option for younger children whose crafts may not be as appealing to an audience who doesn’t know them personally, but it can also work for kids whose crafts are useful and appealing.
Taking orders for crafts from friends and family members is a good way to start, and it helps kids learn about re-investing money in their business. Have your kid get 50% of the payment up front, and show him how that money has to be reinvested in his crafts in order to make them for the customers.
You can also take crafts your child has made and frame them, mount them on coasters, or publish a small book. Family members are usually happy to purchase and support entrepreneurial children.
2. Sell crafts at a lemonade stand
If your child entrepreneur is already planning a lemonade stand at your summer yard sale or for weekends at your local park, suggest that she sell her crafts on the side.
Setting up a lemonade stand in a similar place and at a similar time throughout the summer can be a great way to attract more customers who know your child is going to be there.
3. Set up a booth at a craft show or farmer’s market
If your crafter is more serious and makes high-quality crafts that even strangers would find beautiful or useful, help him research what it would take to have a booth at a craft show or local farmer’s market.
Often times, there’s a small fee for a booth, and you usually need to bring your own tables/ supplies. But selling to customers first-hand at a craft show or farmer’s market can be an invaluable experience for your entrepreneur.
They will learn important skills like negotiating, making change, and marketing when they talk to potential customers.
4. Sell Crafts on Online
Again, this suggestion is for kids who are making high-quality crafts that will appeal to many people. Help your child set up a store on Etsy, the online go-to place for handmade items.
An Etsy store can be yet another good lesson in reinvesting profits to grow business, since you have to pay a small fee to list items on Etsy. Remember, Etsy is quite competitive and saturated with tons of crafters. Your child will need to do some marketing or they will only make a few sales.
Your child can also sell crafts on Instagram or Facebook. They need to be thirteen years old to create their own account. They can share and promote their crafts on social media and use paypal to collect payments from customers.
There are kids who sell slime on Instagram who have made more than with a traditional hourly job.
5. Sell at kid’s craft fairs
Check with your local schools, churches, and non-profit organizations. Many of these organizations will run craft fairs, particularly around the holidays, featuring kid-made items. These craft fairs might donate the proceeds to a local charity, though.
Remind your child that selling crafts at a fair like this is helping a great cause. Your child will also be able to gain new customers who may become repeat buyers.
Helping kids start their own business at a young age is a fantastic way to grow good money habits. It will also encourage creativity and businesslike thinking early on.
Remember watch closely if your child is selling crafts to strangers or on the internet. There are unsavory customers out there and you want to protect your child against losing money or getting hurt.