7 Ways to Help Teens Start a Summer Business

With youth unemployment at an all-time high, instead of helping a young person to find a job, how about helping to create one?

5) Raise Start-up Money. The teens may need capital to get started. Help them create a one-page description of their idea and begin to share it with friends and relatives. Most concepts should require less than $500 to get started. Encourage them to find 5 people to invest $100 each and offer a promissory note that pays 10 percent interest in six months. Seeking investors may be the least glamorous task but this will determine if they are serious about making money this summer.

6) Events Are Hot! People enjoy going places during the summer. Maybe your teen business owners could work with an organization to promote a trip. Make sure they have at least six weeks to promote the event.

7) Internet Money is the Best Money. Billions are spent online each year. Teens could use eBay to list a neighbors items and take a commission on each sale. CreateSpace can be used to sell books, CDs and DVDs on-demand with no initial investment. Do you have an idea for a design or saying? Then CafePress are Zazzle is the places to create custom t-shirts, posters, bags and etc. without paying a penny.

More BlackEnterprise.com posts on youth entrepreneurship

Andrew Morrison is the President of Small Business Camp. The company provides high-impact marketing strategies for entrepreneurs, executives and non-profit leaders. Andrew has as trained thousands of entrepreneurs from Hawaii to Nigeria and appeared on Oprah. Visit http://smallbusinesscamp.com/ to receive his no-cost report entitled, “Identifying and Growing Any Business Idea in 16 Weeks.” Follow Andrew Morrison on Twitter.

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  • http://kenofund.org Deana

    Andrew,

    I couldn’t agree with you more. As a teen I worked in the mall at a toy store. I can remember thinking this minimum wage (back then around $4.50/hr) does not match my labor output. So I started a tutoring service and made double that an hour.

    The ownership experience changed my life. I now own two businesses with my sister and the personal and financial freedom that ownership offers is great blessing.

    For the last year, I’ve been working with the KENO (Kid Entrepreneurs Need Opportunities) Micro-Fund. The organization fosters, grows and nurtures businesses formed by Kid Entrepreneurs. The founder Adrienne Lance Lucas believes that when young people have a real and applicable understanding of financial literacy, legacy wealth creation, and business stewardship, they can change the world for good.

    Over the summer the KENO business scholars have been learning about the business of music and will premier their first single “Black Wall Street.” We are so proud of their accomplishments, today Trey Best from the film the Blind Side will perform the song with the song’s 11 year-old writer Keno Lucas, II.

    Keno started his first internet based business at the age of five – selling is art!

  • Mede kwaku constant

    l want to creat a big farm of tomatoes , a corn and rice . The tomatoes’ s farm will help me to open a small factory to transform the tomatoes in tins tomatoes if l have a real opportunity . the corn and rice farm will help me to fight the hungry in Africa if we do it in every country .