The location you work from will be defined by the type of teen business you start. Some businesses can be run successfully from home, although others may need a specific location.
If you’re too young to form a business yourself, your parents may be able to help. If your state does allow teenagers to register their own company, why not stand out from the crowd and boost your business to the next level?
We’ve helped over 500,000 people form their business and provided answers, guidance and support to transform them into entrepreneurs.
Here is our simple guide to starting up a successful teen business. We’ll share some business ideas that are suitable for kids, teens and students, and let you know how to get your business off the ground. From exploring the types of business you can start to the legalities of setting up your business and the realities of your day-to-day operations, this guide is here to help.
Read on for some insight into creating your own teen business and becoming an entrepreneur.
You might be surprised at the number of teen businesses out there. Here are some interesting facts:
This is why teen businesses are so exciting. So how can you be part of that success? We're here to help you figure that out.
There are several different types of teen businesses that you can start. Here are some of the more popular options:
Remember, the ideas above are just a starting point. You can define and tweak exactly what type of teen business you want to run by conducting your own research.
But don’t assume that just because it’s a teen business, running it will be easy.
You will need to be polite, reliable and prompt. You should complete services as you say you will, and make sure people are happy with the result. This will help to build up your reputation and can generate good word of mouth and more sales.
Here are some further tips:
The thing to learn here is that it’s okay to say “no” to your first, second or third teen business ideas. Very few teen entrepreneurs get it right the first time. In fact, getting it wrong is often a badge of honor! Still, you don’t want to waste too much time, energy or money on the wrong initiatives, so ask and answer these questions honestly to find the right way forward.
Teen businesses that just earn you a few dollars don’t need a business plan, but any company that's going to become a success can really benefit from one. A business plan will help you define how you’re going to run your business, market yourself, get sales, make a profit and grow.
Business plans force you to get your thinking in order and show your commitment to your teen business. Though they can vary slightly, a good business plan should all cover the following areas:
There are five main business structures you can have in the U.S., and it’s important to choose the right one. We’ve shared your options below. They are:
For more information on the advantages and disadvantages of different types of businesses, please see our in-depth guide. If you’ve still got questions, we’ve answered them to help you choose the right business structure for your teen business.
In some cases, our recommendation for a teen business would be to create an LLC. We’ve got a complete guide to everything you need to do, and we can even set one up for your business. LLC formation does vary from state to state, but we’ve got you covered, wherever you are.