business plan for kids

3 Kid Business Plan Examples (Real Ones!)

By: Author Amanda L. Grossman

Posted on Last updated: May 8, 2024

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Need some examples to show kids and teens how to create a business plan? Kid business plan examples + a free template to create your own.

Teaching kids and teens to make a business plan?

It’s helpful to have some kid business plan examples to show the kids and teens who will be creating their very own (usually for the first time).

I happen to have created a kid business plan template – the Solid Gold Biz Plan.

So, I’m going to use that and two of the kid business ideas I came up with here, to show you kid business plan examples.

First up, let’s look at what a kid business plan needs to cover.

Teaching Kids to Make a Business Plan

Each business plan looks a bit different, but if you’re teaching kids about making one?

You’ll want to make sure these bases are covered:

• The problem you want to solve
• The ONE idea you’re going to create to solve it (product or service)
• Who you will target to buy your product/service
• How you’re going to tell that target audience about your product/service (marketing)
• How you’ll price your product service (combination of estimating your cost to create/maintain/deliver your product/service, what the competition is charging for a similar or same product/service, and what your customer can pay)

Now, let’s head into some kid business plan examples.

Kid Business Plan Example #1: Wig Styling

I put a call out for actual kid business plan examples that real kids and teens have filled out, and was SO excited to receive this one from Natalia.

Sixteen-year-old Natalia has wanted to sell styled wigs for 2-3 years and was given the opportunity to fill out a business plan at her school (love that!).

Her mother says,

“My daughter started cosplaying when she was about 12-13. Harley Quinn from Suicide Squad started it all! We started going to “comicons” and Animethons in our area, and she was HOOKED! She developed a passion for styling her own wigs because when they arrive/or are store bought, there is little detail. Natalia is a stickler for the finest details when it comes to wigs for characters. She's very precise.”

Her parents bought her some salon-quality cutting tools, and Natalia taught herself some unique techniques in styling.

She shares her idea + marketing work below.

Business Idea : Natalia wants to commission wigs, and has mostly done this for conventions and cosplay so far.  She’s even sold a couple already!

Marketing : Natalia wants to focus on cosplay stage play, and teens to adults at the moment. Her strategy to find these clients is through Amazon or Facebook – all online.

Pricing and Profit : Natalia has not nailed down her pricing yet (this will come with experience). She works for either a flat rate, or by the hour right now. Her average cost for materials is $80, and she sells the wig for $120. This means her profit is right around $40. This is a profit margin of 33.33% ($40/$120 * 100). Her plan is to invest most of this back into the business until she starts getting steady income from it. 

Alright! Let’s go to the next business plan example.

Kid Business Plan Example #2: Pet Photography Business

Let’s say your child wants to start up a pet photography business.

Problem You Want to Solve : People love their pets – they’re practically family members. They want to have photos of them in real life to both print out for their home and to post on social media networks like Facebook and Instagram. But it’s hard to take your own photos of yourself playing with your dog or to take animal photos at all (since they move) especially if you haven’t got the photography skills.

Your Target Client : Pet owners who feel like their pet is part of their family, or pet owners who like to spend extra money on their pets

How to tell the target Client about your product/service (marketing) : I can hang out at the local dog park and hand out my business card with the services printed on the back. I can also talk to a few pet sitters that I know, to see if they will help to spread the word.

Estimate cost of creating/maintaining/delivering this product/service :

• I don’t know of any competitors – everyone takes photos of people, not people with their pets. Local photographers charge around $150 for a portrait package with kids and teens.
• I don’t have a lot of experience with this, but am in the middle of a photography class at school.
• To get my first few clients and start getting experience, I am going to charge just $35 for a 30-minute pet photography session at the local dog park.
• I’ll also offer an “upsell” of any public location they’d like (within a 20-mile radius of my house), for just $15 more.
• As my experience grows and as the referrals start to come in, I’ll raise my prices.

Kid Business Plan Example #3: Bean Bag-Making Business

I love to use the business example from my own childhood that my friend and I created: to make and sell bean bags.

We didn’t fill out a business plan at the time (only 1 of the 1,327 mistakes we made – haha!), but if we had, it would’ve looked something like this:

Problem We Want to Solve : Kids get bored, and they might like a bean bag to play with.

Hint: this was one of the biggest problems with creating this product – it was really solving our own problem of trying to come up with something to do. We were bored, and my friend’s mother suggested we do this! Not only that, but we thought we could earn a quick buck).

Your Target Client : Kids.

How to tell the target Client about your product/service (marketing) : through yard sales

Hint: it was summertime when we started this, and our only avenue to sell was through a yard sale.

To create our product, we have to have:

• Needle and thread (yes…we were making them by hand!)

We can create one bean bag for around $0.05. We will sell our bean bags for $1.00.

I hope you found these kid business plan examples useful, and I'll be adding to them as I go. In fact, if your students or child/teen has a business plan example that they wouldn't mind sharing? Go ahead and email me so that I can add it into this article. That'll help others trying to fill out their own business plan!

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How to Make a Business Plan (for Kids)

Last Updated: April 17, 2024 Approved

This article was co-authored by Michael R. Lewis and by wikiHow staff writer, Amber Crain . Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 21 testimonials and 85% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 158,619 times.

There are plenty of kids out there running their own successful businesses.To get started, you’ll need a great idea for a business and a solid business plan. Business plans can get pretty complicated, but they don’t have to be. As long as your business plan includes a few crucial things, you’ll have all that you need to get started!

Developing Your Business Idea

• Are you currently busy with school or is it summertime? Think about when the work for your business will be done. [1] X Research source
• Consider business ideas that are seasonal. For example, if it’s near Christmas, consider ideas that cater to that, like a gift wrapping service or making gift baskets.
• Are you in the middle of a very hot summer? This might be a perfect time to launch a neighborhood lemonade stand.

• Examples of product-driven businesses: baking cookies, building birdhouses, making gift baskets, creating greeting cards, selling candy, making doggie treats.
• Examples of service-driven businesses: lawn care, car washing, computer repair, pet sitting, babysitting, cleaning houses, dog walking, and teaching computer skills to older people. [3] X Research source

• Are you an animal lover? Consider offering pet sitting services.
• Maybe you’re crafty and enjoy making handmade jewelry or gift baskets. These are great products to sell. [4] X Research source

• Make sure your business name is easy to pronounce, as well.
• Clever and unique business names work well, just remember that the name needs to relate to what your business entails.

• List any specific objectives and goals for your business, as well.
• Write out what you think makes your product/service unique. [6] X Research source

Planning Your Business

• If you have a sibling that wants to help out, that would be a good place to start.
• You will be splitting your profits, so you will need to decide how much and when your employees will be paid.

• You could also ask your parents if they’d consider donating some of your future allowance as seed money for your business.
• If you bring them a solid business plan, they will be more likely to help you.

• By adding up your ongoing expenses, you will have a pretty good idea of what it will cost to keep your business running. [8] X Research source
• Another example – if you’re making cookies to sell, you will need to total up how much the ingredients cost and how often you’ll need to buy them.

• Let’s say that when you add up the cost of the ingredients, it costs you $3.50 to make a dozen chocolate chip cookies. You will want to charge more than that for each dozen in order to make a profit.
• You should also factor in how much time it takes you to make your product/perform your service. [9] X Research source You can then work out prices based upon how much you want to make. You should also factor in time that you aren't being paid (such as advertising your business or walking to a customer's home).
• For example, if it takes you a half hour to make the chocolate chip cookies mentioned above and another half hour to sell them, you will need to charge an amount that represents the amount of time you spent preparing them. This additional time is your "wage" for preparing them.
• You can work out your hourly wage by dividing your pay for a project or product (minus your expenses) by the amount of time spent working.
• In this case, if you charged $9.50 for the dozen cookies, you would be making $6 for the hour that you spent making and selling them.
• Subtract your expenses from your revenue to get your profit amount. [10] X Research source

Marketing Your Business

• You should also consider your market area. Unless you have a car (or your parents' help), market area is relatively small. This may include only areas that you can safely walk or bike to.
• These customer types are called customer profiles. Once you have your customer profiles, you will have a better idea of how to market your business to them.
• Different customer profiles sometimes require entirely different marketing strategies.

• You can market most effectively once you know these specific details about your competitors.
• Offering lower prices or providing higher quality products/services are two ways you can compete with them.
• For example, if you start a lawn care business, you will be competing with established lawn care businesses. You can build a customer base by offering better service and encouraging customer recommendations.

• Remember to keep your customer profiles in mind when choosing your marketing strategies.
• For instance, if you’re starting a pet sitting business, you could post flyers at veterinary offices and pet stores, and also hand deliver flyers to people in your neighborhood with pets.

Putting Your Business Plan on Paper

• Write the business name in large letters, or use a large font, and make it bold. It’s the most important thing on the page.
• The description paragraph can be in a normal size or standard 12 point font.

• Owner/Management example: “Kelly’s Doggy Daycare is owned by Kelly Klein. She has several years of experience pet-sitting and truly loves working with and caring for dogs of all kinds.”
• Business History example: "Kelly noticed that most of her neighbors were dog owners who worked long hours every day. Occasionally, they took vacations and/or experienced family emergencies, which could take them away from their pets for days at a time."
• "With her love for dogs, Kelly knew she could provide a pet care service that her neighbors would benefit from, and that’s how Kelly’s Doggy Daycare was born."

• You don’t need to get incredibly detailed – summarize and highlight the most important information for each.
• Example for product/service: "Kelly’s Doggy Daycare will provide hands-on pet care for today’s busy pet owner. The business will offer day rates along with in-house extended stay pet sitting. Walking services are included at no charge with every appointment."

• "It’s her mission to put your mind at ease when you have to be away from your pets. Kelly will make sure your pets are loved and cared for in your absence."
• "An email summary of every pet sitting appointment will always be sent to you via email during your absence or upon your return."

• Example: “Kelly’s Doggy Daycare caters to today’s busy adults. These are business people who work long hours every day and/or travel regularly for work, family vacationers, and anyone who finds themselves in need of last minute pet care."
• "The business has one competitor, Sam’s Sitting Service, but Kelly offers lower pricing and in-house extended stay care."
• "She plans to post flyers about the new business in her neighborhood to promote it. She will also be going door-to-door to introduce herself and inform neighbors of her services.”

• Example: "Kelly will need very few supplies to launch the business – a bag of doggie treats, 1 dog leash for a small dog and 1 dog leash for a large dog."
• "Ongoing expenses will be the replenishment of doggie treats and occasionally dog toys and/or dog blankets. The rate is $5.00 for each hour of pet care provided. The rate for in-house extended care is $25 per day."
• "Customers will need to provide their own pet food or reimburse Kelly for any food she has to purchase during pet care. Profit for each hour is approximately $3.50 after expenses."
• "Profit for each day of extended care is approximately $18.50 after expenses."

Expert Q&A

You Might Also Like

• ↑ http://www.wisebread.com/create-a-business-plan-by-answering-4-simple-questions
• ↑ http://www.mikemichalowicz.com/the-37-greatest-business-ideas-for-young-entrepreneurs/
• ↑ http://www.teachingkidsbusiness.com/business-plan-example.htm
• ↑ http://content.moneyinstructor.com/664/kids-starting-business.html

About This Article

To make a business plan for kids, create a cover sheet with the business name in large, bold font and a 5-6 sentence description of the business. Have a logo? Include that, too! Start writing up the company’s management and history on the second page, talking about yourself in 1-2 sentences and how and why you came up with your business in another 2-3 sentences. Then craft 3-4 sentences, each, to describe your product or service, business goals, marketing strategy, and funding needs. To learn more from our Entrepreneur co-author, like how much to charge for your product or service, keep reading the article! Did this summary help you? Yes No

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Home » Teens

Business Plan Templates for Teens

If you want to launch a business, you have to have a plan! Here are some templates to help you get started.

The key to any successful business is to have a plan before getting started. Mapping out the business details is instrumental in determining if this idea is worth pursuing, which can save a lot of time and resources that could be used towards a different business that would be better suited for you and your business needs and wants. 

What To Include In a Business Plan

The point of a business plan is to outline your business strategy and plan your business out on paper. As your business grows and you are looking at expansion options, lenders will want a well-defined business plan to help them determine if lending to your business is the best option. When looking at business plan template packages for teens, you are looking for business plan templates that will help you transition your business ideas to full-fledged businesses that will help adults see the vision. 

The 7 parts of a business plan include:

• Executive Summary
• Business Description
• Products and Services
• Market Analysis
• Strategy and Implementation of Strategy
• Organizational Structure and Management Team
• Financial Plan and Future Projections

Best Business Plan Templates for Teenagers

Bizkids’ guide to writing a business plan.

This resource helps define the business idea and determine what to charge for the products and services that you want to offer. Learn how to evaluate your competition and what they are doing with their brand to bring value to their customers to figure out ways to make your brand unique so you can stand out in the marketplace. Determine what resources you need to build your business and how much those resources will cost you. Are there ways to bootstrap the company to make startup costs cheaper? Learn about breakeven costs and how many units you have to sell before you start making a profit with your business idea.

Teen Entrepreneur Toolbox: The Small-Business Guide for Teens

This toolbox provides 8 easy to follow, actionable steps to help teens evaluate whether or not their business idea is feasible for them to start and how to go about getting started. If you don’t currently have an idea for what business to start, this provides ideas and how to get started with them! Real teens share real business experiences and advice from their own journey, which can help you avoid making common business mistakes that will decrease your learning curve and get motivation and encouragement from teens that have faced similar challenges while building their businesses. Learn about marketing techniques that work, how to provide top-notch customer service, money management of profits, and goal setting for future growth. 

Home Sweet Road’s My Business Plan

This one-page business plan is free and easily downloadable. It can be printed out and hung on the wall for easy reference. The questions asked in this document are thought-provoking and help teens determine who the target audience is for their products and services. Defining the target audience will help establish a solid marketing plan that conveys the value of the product offering while making sure that the customer’s needs are being met. Customers want to buy from businesses that understand their needs and provide an ideal solution.

Proverbial Homemaker’s Family Business Plan Guide

Families can work together to build a business that kids and teens can run themselves and are passionate about running using this comprehensive business template and associated resources. Consider first why you want to start a business and why you are choosing THIS specific business. Understanding the reason for selecting that business idea builds confidence and helps maintain the passion for the company as time goes on. Create a monetary budget based on projected profits and figure out what price is best to charge for your products and services to secure sales from your target market. Set goals and manage your time, then figure out what laws are applicable for your business venture.

Learn how to conduct market research to see if there is a need for the services you want to provide before starting by conducting surveys or soft test launches. Find out where to source materials to make products and how much that will cost.  

Boss Club Kid Entrepreneur Kit

This kit is literally a business in a box, so kids and teens can get started right away as soon as they have it in their hands! Choose your kit and create the following businesses:

• Homemade dog treats
• Specialty cake pops
• Luxury bath bombs
• Delicious fudge
• Handmade soaps

If you are homeschooling, this kit counts as a homeschooling resource that you can receive credit for completing, which is a fantastic additional perk of using this tool. The intended audience is kids and teens ages 11-18, and provides over 100 videos with step-by-step instructions on how to set up and grow a business from the ground up. So far, over 100 schools across the United States are using this option for their students to learn how to set up a business that they are passionate about running. Getting teens started young on their entrepreneurial journey has been found to build self-esteem and teach decision-making early on that helps young adults make solid decisions in their lives as they mature. The benefit of this specific program is that it was created by entrepreneurs for entrepreneurs and not created by scholars that don’t have practical business knowledge. There is a quiz on their website that takes 30 seconds and helps you decide what business is best for your needs. 

Small Business Administration

This is a great government resource for teens who want to learn about business for free and about what resources are available from the government, such as loans and business coaching from experienced business owners in your community. There is no absolute right or wrong way to write a business plan in business, and you can choose how your business will run or how much money you need to start it. This resource allows you to walk through your business idea and plan with an experienced business owner that can talk through the pros and cons of what you feel is the next step for your business, from expansion to new investors to additional product offerings. This resource offers two different business plan templates that walk you through example business plans.

Solid Gold Biz Plan

This free business plan template from Money Prodigy discusses the author’s mistakes during her first 7 years in business and provides insights into how she would have conducted her business affairs differently if she had to start over again knowing what she knows now. The primary goal of this template is to find a problem that your business will solve. Many new entrepreneurs focus on the product or service but not on the problem it will solve in the marketplace. The goal should be to identify the problem and then develop the solution that will be offered as a product or service by your company. After determining the primary problem, she focuses on how to best deliver the solution and how much it will cost to maintain the delivery of the product or service. 

Shark Tank Lessons in Business and Entrepreneurship from Scholastic

A free lesson plan with a teacher’s guide that can be used in a group setting or as a family! Topics covered include entrepreneurship basics, writing an effective business plan, crafting persuasive pitches for investment presentations, and how to find a great business mentor. The target age group is grades 6 to 12.

Shark Tank Marketing Plan

A worksheet template that focuses on the target demographic for your business and the motivation that that demographic would have to buy a product or service that you are offering so you can establish the best way to market to them. Games are encouraged with this marketing package because this helps draw out ideas in fun ways that promote creativity and growth. Business is about finding creative solutions to problems and pivoting the company into new arenas when it becomes necessary for growth. Keeping an active marketing plan up to date as the business grows is key to expanding when necessary or finding innovative ways to keep customers engaged with your brand. 

Shark Tank Analysis Worksheet

Use this worksheet when evaluating businesses to learn what investors are looking for when assessing whether or not to invest in a business. Understanding what investors are looking for in a management team, mission, vision, product/service, research and development, and strategic implementation will help you create that within your own business to make your foundation strong.

A strong business plan that is well defined will take even the novice entrepreneur to the expert level of business in no time with the proper preparation. Using a business plan template in areas of planning, marketing, product development, and strategy will assist in building a business that can be bootstrapped and stood up quickly to test the business out in ways that require little startup capital.

Related Reading

• Entrepreneurship for teens
• Teen entrepreneurs’ guide to money management
• How to earn money for teens

Want to teach your child how to start their own lemonade stand ? A business plan for kids is the perfect way to turn their entrepreneurial dreams into reality. A business plan template can be a helpful tool for kids to structure their business plans, providing them with a clear outline of their ideas, goals, and strategies. This article provides practical steps and essential components to create a straightforward and effective business plan for your young entrepreneur.

Key Takeaways

• A comprehensive lemonade stand business plan should include elements such as business name, objectives, marketing strategies, and financial costs to ensure success.
• Kids should engage in brainstorming to connect their skills and interests with community needs, helping them generate viable business ideas, including unique solutions to everyday problems.
• Setting clear business goals and creating customer profiles along with analyzing competition are essential for effective marketing and achieving financial sustainability for a lemonade stand.

What is a Business Plan and Why Do Kids Need One?

A business plan is a written document that outlines a business idea, its goals, and strategies for achieving success. It serves as a roadmap for entrepreneurs, helping them navigate the ups and downs of running a business. For kids, creating a business plan is an essential step in turning their ideas into a reality. It helps them think critically about their business, identify potential challenges, and develop a plan to overcome them.

Having a business plan is crucial for kids because it:

• Helps them clarify their business ideas and goals
• Identifies potential risks and challenges
• Develops a strategy for marketing and sales
• Establishes a budget and financial projections
• Provides a roadmap for success

By creating a business plan, kids can turn their passion into a successful business venture. It’s an essential tool for any young entrepreneur looking to start their own business. Whether they’re dreaming of a lemonade stand or another exciting business idea, a well-thought-out plan sets the foundation for success.

Key Elements of a Lemonade Stand Business Plan for Kids

Creating a business plan for a lemonade stand involves several key elements that will help young entrepreneurs organize their ideas and strategies effectively. Here are the essential components to include:

Business Name and Logo

The first step is to come up with a catchy and memorable name for the lemonade stand. A unique logo can also add a professional touch and make the stand more recognizable.

Business Idea and Description

Clearly describe the business idea, including what makes the lemonade stand unique. This could involve special lemonade recipes , unique selling points, or additional products offered alongside lemonade.

Objectives and Goals

Set clear, achievable objectives and goals. These could range from the number of cups sold per day to specific financial targets. Having defined goals will provide motivation and a sense of direction.

Marketing Strategies

Outline how the lemonade stand will attract customers. This could include creating flyers , using social media, or setting up in high-traffic areas. Effective marketing strategies are crucial for drawing in customers and generating sales.

Financial Plan

Detail the start-up costs, including ingredients, equipment, and any permits needed . Also, include ongoing expenses and pricing strategies to ensure the business is profitable. A financial plan helps in managing the budget and tracking expenses.

Operations Plan

Describe the day-to-day operations of the lemonade stand. This includes how the lemonade will be prepared, how inventory will be managed, and how customer service will be handled. An operations plan ensures smooth and efficient running of the business.

Risk Management

Identify potential risks and challenges that the business might face, such as bad weather or supply shortages. Develop strategies to mitigate these risks to ensure the business can handle unexpected situations. By including these key elements in their business plan, kids can create a comprehensive and effective blueprint for their lemonade stand, setting a solid foundation for their entrepreneurial venture.

Brainstorming Business Ideas

Engaging in thorough brainstorming is a pivotal first step for crafting an effective business plan, which begins with pinpointing one’s passions and abilities, recognizing what the local area lacks, and developing their own business ideas.

Motivating children to enumerate their hobbies and proficiencies can ignite original ideas for starting their own businesses. This tactic enables them to merge their personal interests with possible entrepreneurial endeavors.

Children ought to contemplate both the unique talents they possess and the types of service or product-based enterprises that would serve unmet needs within their community. For instance, beyond setting up a classic lemonade stand, they might consider:

• initiating a pet sitting business
• offering dog walking services
• selling homemade baked treats
• creating handcrafted jewelry

These key concepts not only resonate with young entrepreneurs’ enthusiasms, but also address specific consumer requirements in their locale, rendering these ventures feasible options when considering establishing one’s own business venture.

By spotting routine challenges people face day-to-day and devising inventive solutions, kids can generate novel products or services. Engaging in this kind of critical thinking doesn’t just amplify problem-solving aptitudes. It also fosters unconventional and imaginative approaches toward launching distinctive businesses tailored to solving authentic problems—instilling entrepreneurial spirit into future innovators seeking distinct market opportunities.

Creating a Unique Value Proposition

A unique value proposition (UVP) is a statement that explains how your business solves a problem or meets a need in a unique way. It’s what sets your business apart from others and makes it attractive to customers. For kids, creating a UVP is an important step in developing their business plan.

To create a UVP, kids should ask themselves:

• What problem does my business solve?
• How does my business meet a need or want?
• What makes my business unique?
• What sets my business apart from others?

By answering these questions, kids can develop a UVP that clearly communicates the value of their business. For example:

"Our lemonade stand offers freshly squeezed lemonade made from organic lemons and sweetened with natural honey. What sets us apart is our commitment to healthy ingredients and our eco-friendly, reusable cups, ensuring a refreshing and environmentally conscious choice for our customers."

This UVP highlights the unique aspects of the business, making it stand out in the market. By crafting a compelling UVP, kids can attract customers and build a loyal client base for their business venture.

Choosing a Lemonade Stand Business Name

Crafting the perfect name for a lemonade stand is essential. The name should convey what’s being sold and stick in people’s minds, helping with brand recall while engaging prospective customers.

In order to ascertain whether a chosen business name hits the mark, it’s wise to gather opinions from others like friends or family members. If their reactions indicate confusion or disinterest, this could imply that the business moniker may not be effective. Exposing your chosen name to potential users can offer critical feedback about its impact and clarity. This crucial evaluation enables one to tweak the naming choice so that it resonates better with intended customers.

When embarking on creating a unique identifier for your lemonade venture, inspiration might strike from an array of sources including dictionaries, beloved books, or inventive amalgamations of words. It’s equally important when establishing this identity to verify its availability - ensuring there are no legal entanglements waiting down the line and enabling you secure an online footprint successfully – which ultimately aids children in crafting distinctive names tailored for their entrepreneurial endeavors within the marketplace.

Setting Lemonade Stand Business Goals and Objectives

Having clear objectives and goals is essential for the thriving of a lemonade stand. By setting precise targets, children are endowed with motivation as they have definitive benchmarks to reach. Committing these ambitions to paper renders them more concrete, facilitating progress towards them.

For youngsters managing such tasks, decomposing grander ambitions into lesser duties can make achievement seem easier to grasp. For example, rather than striving to sell 100 cups of lemonade in one stretch, a smaller aim like selling 10 cups per hour can be set. This segmentation not only reduces intimidation, but also provides immediate gratification upon reaching each mini milestone.

To ensure continuous advancement and recognition of both triumphs and hurdles faced along the way, it’s crucial for kids to frequently re-evaluate their goals. Integrating this with a robust marketing plan is paramount so that all endeavors are aligned toward effectively capturing the attention of the desired demographic. Through goal-setting and revisiting their strategies routinely. Children hone their focus on enhancing various aspects of their business pursuits continuously.

Developing a Lemonade Stand Marketing Plan

Developing a robust marketing plan is essential for the success of a lemonade stand business . This strategy encompasses a deep dive into the target market and thorough analysis of competitors. Pinpointing who your target customers are ensures that all marketing initiatives resonate with the intended demographic.

For effective marketing efforts, strategies must be constructed upon detailed understanding regarding customer profiles and competitive landscape evaluation. We will delve into forming intricate customer personas, scrutinize our competitors in depth, and consider diverse approaches to marketing.

A well-crafted comprehensive marketing plan enables children operating lemonade stands to captivate their ideal clientele and distinguish themselves within the bustling marketplace.

Creating Customer Profiles

Developing profiles for potential customers can significantly enhance a business’s understanding of its clientele and refine its marketing approaches. Such profiles provide detailed representations of the individuals who are probable purchasers or users of a product or service. By identifying these customer characteristics, businesses can more effectively customize their marketing to align with client desires and demands.

For enterprises operated by younger entrepreneurs, the market is typically confined to their immediate locality unless there’s an opportunity for growth beyond those borders. Gaining insights into consumer preferences allows these businesses to fine-tune pricing models based on what customers are prepared to spend . This vital information aids in ensuring that the business resonates with and attracts its intended market segment.

Analyzing the Competition

Investigating local competition is a vital component of crafting an effective marketing strategy for any business, including a lemonade stand run by kids. They need to comprehend the offerings and pricing strategies of competitors to ascertain how they can set their prices competitively and highlight what sets their service apart.

Grasping the principles of supply and demand as well as recognizing how market fluctuations influence price setting is crucial in determining profitable pricing levels. Providing superior service or more attractive rates could elevate the profile of a child’s enterprise above others.

By evaluating competing businesses, children are able to carve out a distinctive position for their lemonade stand within the marketplace.

Exploring Marketing Options

Numerous marketing strategies can be employed to advertise a lemonade stand, especially when considering the approaches used by service driven businesses. Children may opt for online platforms, distribute business cards, hand out flyers, go door to door or leverage social media networks to connect with prospective customers. Recognizing the perfect demographic for their business requires examining factors including age group preferences and geographical proximity.

Leveraging various social media outlets has the potential to substantially boost a lemonade stand’s exposure within the target market. The choice of specific marketing mediums should hinge on their capacity to effectively engage with the intended customer base. This investigative approach assists children in pinpointing optimal methods for publicizing their lemonade stands to consumers.

Calculating Lemonade Stand Start-Up Costs

Incorporating both initial and recurring lemonade stand costs into the business plan delivers a comprehensive financial perspective for any enterprise. Essential outlays include those associated with securing premises, acquiring equipment, hiring personnel, and obtaining necessary licenses. Start-up expenditures might also involve the creation of marketing assets as well as stocking up on preliminary product offerings.

Children engaging in business must take production expenses into account since elevated overheads could mandate an increase in sale prices to preserve their profit margins. Considering these expenses enables children to gain insight into the fiscal demands and prospective earnings from the beginning. Meticulous computation of these costs is crucial for young entrepreneurs to confirm they are financially ready for their ventures.

Assessing the Need for Help

Evaluating the necessity of additional support is a critical component in preparing to become a future business owner. Kids must analyze whether it’s financially prudent to employ assistance or maintain sole control over their business. In instances where extra hands are essential, they should incorporate potential wages and profit-sharing stipulations into their financial planning.

Comprehending these expenses is vital for establishing how profits will be divided with any staff brought on board. Carefully considering the expenses relative to hiring benefits enables kids as prospective business owners to make well-informed choices pertaining to the management of their business activities.

Identifying Necessary Supplies and Equipment

For a lemonade stand to operate successfully, it’s vital to determine the essential lemonade stand supplies and equipment required. Key items such as lemons, sugar, and cups are fundamental components for any lemonade business. Securing the appropriate materials not only aids in executing the day-to-day operations of the business, but also bolsters consumer confidence and contentment.

When children plan in advance and make sure they have all necessary supplies on hand, they can manage their business with efficiency and ease. This foresight is critical for upholding uniform quality throughout their service offerings.

Estimating Ongoing Expenses

Recurring costs represent the expenditures that a business will continue to face beyond the initial phase of establishment. For a lemonade stand run by kids, such expenses can entail advertising efforts, as well as supplies like cups and fresh ingredients needed for production. Ongoing expenses may cover necessary licenses or permits.

Incorporating these financial obligations into their planning is essential for children to grasp the enduring economic responsibilities associated with running their venture. Recognizing these costs is key to ensuring both continued profitability and long-term viability of the business.

Operations and Management

Operations and management refer to the day-to-day activities involved in running a business. For kids, this includes tasks such as:

• Managing finances and budgeting
• Marketing and advertising
• Providing customer service
• Managing inventory and supplies
• Hiring and managing employees (if applicable)

To develop an operations and management plan, kids should consider the following:

• What tasks need to be completed on a daily, weekly, and monthly basis?
• How will I manage my finances and budget?
• How will I market and advertise my business?
• How will I provide excellent customer service?
• How will I manage inventory and supplies?

By developing an operations and management plan, kids can ensure that their business runs smoothly and efficiently. It’s an essential part of creating a successful business venture.

For example:

"My lemonade stand will operate from my front yard, where I will serve freshly squeezed lemonade to my neighbors. I will manage my finances by keeping track of expenses and income using a simple notebook. I will market my business by creating colorful flyers and posting them around the neighborhood as well as sharing updates on social media. I will provide excellent customer service by greeting each customer with a smile and ensuring their lemonade is always refreshing and delicious."

This detailed plan helps kids stay organized and focused, ensuring that all aspects of their business are well-managed. By thinking through these operational details, young entrepreneurs can set themselves up for success and enjoy the process of running their own business.

Pricing Goods and Services for a Lemonade Stand

Setting the right prices for products and services is crucial to a lemonade stand’s profitability. Children must take into account the expenses incurred in producing their product, including production and marketing time, as well as their intended profit margin. It’s also important to be aware of what competitors are charging for similar products.

Take this instance: if 12 cups of lemonade cost $2.40 to produce, then kids need to price them above $0.20 each to ensure they not only recoup costs but also earn a profit from sales. To calculate an hourly wage earned through business activities, one should subtract operating expenses from revenue and divide by hours spent working.

Leveraging distinctive features like unique recipes or services can significantly elevate the attractiveness of children’s businesses. By considering these aspects diligently, it becomes possible for kids’ enterprises to establish pricing strategies that remain competitive in the market while still generating desired profits.

Teaching Kids Money Management with a Lemonade Stand

Operating a lemonade stand provides an invaluable opportunity for children to acquire skills in money management. By handling the financial aspects of their business, they gain insights into essential concepts like budgeting, maintaining accurate financial records, and managing cash flow. Developing financial literacy at a young age can lead to more informed decisions regarding money as adults.

Incorporating modern solutions such as monetary applications is beneficial for kids learning fiscal responsibility. Budgeting apps serve not only as educational tools, but also promote meaningful conversations about finances between parents and their offspring, laying the groundwork for sound monetary practices.

It’s crucial that parents actively participate by helping set saving targets and overseeing how funds are utilized. This mentorship plays a pivotal role in cultivating a positive attitude toward money in youngsters while equipping them with the necessary aptitude to handle economic obligations they will encounter later on in life.

Final Thoughts on a Business Plan for Kids

Creating a lemonade stand business plan helps kids learn valuable skills such as responsibility , financial management, and entrepreneurship. By following this guide, young entrepreneurs can develop a comprehensive plan that covers everything from brainstorming business ideas to managing finances and marketing.

Encouraging kids to embark on this entrepreneurial journey not only prepares them for future business ventures, but also instills a sense of confidence and achievement. So grab some lemons and get started on your lemonade stand adventure!

Frequently Asked Questions

What should be included in a child's business plan for a lemonade stand?

A child’s business plan for a lemonade stand should include the business name, a business description, objectives, marketing strategy, and financial costs.

Additionally, it should feature a cover sheet with the logo and information about the child’s inspiration for the business.

How can kids brainstorm business ideas for their lemonade stand?

In the process of developing business ideas for their lemonade stand, children should inventory their own talents and passions alongside assessing what their local community requires.

Such reflection could lead them to enhance their enterprise with extra offerings such as baked goods or homemade treats, broadening the scope of traditional lemonade stands .

Why is choosing a memorable business name important?

Choosing a memorable business name is important for brand recognition, as it helps to create a positive first impression and resonates with customers. A name that describes the business offering and is easy to remember enhances its effectiveness and appeal.

What are some key expenses to consider when starting a lemonade stand?

When launching a lemonade stand, it is critical to factor in primary expenses like purchasing equipment, acquiring the first batch of ingredients, paying for any required licenses, and creating marketing collateral. One must not overlook recurrent costs such as obtaining fresh produce regularly and possibly compensating staff.

How does running a lemonade stand teach kids money management?

Running a lemonade stand effectively teaches kids money management by providing hands-on experience with budgeting, bookkeeping, and cash flow management.

This practical approach fosters financial literacy and instills good financial habits for their future.

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Business Plan Templates

Tips on writing a business plan.

A business plan template is a framework to help you write a business plan. A good template should show you the areas that you need to cover in the plan and provide you with questions that should be answered throughout the plan.

We are exposing you to business planning to help you understand the many things that have to be considered when developing and managing a business. As you experience your own business start-up you will also realize that things don’t always go as planned in business. You will need to learn to adopt your plan for the many changing variables in business.

As you go through the business planning section, don’t let planning stop you from moving ahead in learning about business. You will find it difficult at first, but once you work with the frameworks, you will move through it rather quickly.

Our goal is for you to get some business planning experience and not to turn you off of business, because of the planning that you have to do. Do what makes sense for you, but the more shortcuts you take, will affect the success of your business.

Good luck with your business planning and the start-up of your business.

Sample Business Plan Formats

Business Plan for a Startup

www.sba.gov/starting/indexbusplans.html

This is a website link to the Small Business Association of the USA government. It is an excellent resource for business planning and other business start-up considerations.

http://www.va-interactive.com/score/businessplan/businessplan.html

Online module to help you write a business plan.

www.yahoo.com or www.google.com – search for “business plan templates” and you will find many choices.

The government sites are a good source as the information is free.

There are companies that sell software and consulting services for business planning.

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Free Printable Kids Business Planner

Free Printables , Kids Activities

Help your child get started with their own business with this free printable kids business planner!

While on a recent road trip , we were talking about business ideas with the kids. Of course, the traditional lemonade stand came up. Even with that simple business idea, the kids were surprised to learn that they would need to actually pay for supplies which would come out of their profit.

We also discussed ways to increase the value of lemonade, like in the book What Should Danny Do when they sell a super-power with the lemonade. Overall, that one discussion opened up a learning opportunity for our kids to learn about what all goes into the running of a business and the financial side of it.

With that in mind, I would love to share with kids business planner with you! Keep reading and scroll to the bottom to download the PDF. This free downloadable PDF will help your kids plan their first business and get organized.

What’s Included in the Free Printable Kids Business Planner

Inside this free PDF planner you’ll find the following pages:

• Business Plan
• Financial Plan
• Budget Tracker
• Sales Tracker
• Spend Tracker
• Customer Information
• Business Needs
• Savings Plan
• Price & Earnings
• Marketing Plan
• Service Business Ideas
• Product Business Ideas

Kids Business Ideas

Here are some ideas for kids’ businesses:

Service-Based Businesses for Kids to Start:

Starting a service-based business can be a great way for kids to learn entrepreneurial skills and earn money. Here are some ideas for service-based businesses that kids can start:

• Tutoring : Offering tutoring services in subjects they excel in, such as math, reading, or a musical instrument.
• Pet Sitting or Dog Walking : Taking care of pets while their owners are at work or on vacation.
• Babysitting : Providing childcare services for neighbors or family friends.
• Yard Work : Offering to mow lawns, weed gardens, or rake leaves.
• House Cleaning : Helping with basic cleaning tasks like vacuuming, dusting, and organizing.
• Car Washing : Washing cars in the neighborhood.
• Tech Support : Helping with basic tech problems like setting up devices or troubleshooting.
• Party or Event Assistance : Assisting with setting up decorations, serving food, or entertaining guests at parties.
• Craft Workshops : Teaching other kids how to make crafts or artwork.
• Gardening : Helping with planting, watering, and maintaining gardens.
• Errand Running : Running errands for elderly neighbors or busy families.
• Language Practice : Offering language conversation practice for younger kids learning a new language.
• Baking or Cooking : Selling baked goods or homemade meals to neighbors.
• Photography : Taking photos at events or for family portraits.
• Music Lessons : Teaching basic music lessons for instruments they are proficient in.

These businesses can be tailored to the skills and interests of the child, and they can start small, potentially growing into more comprehensive services over time. It’s important for kids to understand any local regulations or permits needed, as well as to prioritize safety and responsibility in their entrepreneurial ventures.

Product-Based Businesses for Kids to Start:

Starting a product-based business can be an exciting way for kids to explore creativity, learn about entrepreneurship, and earn money. Here are some product-based business ideas that kids can consider starting:

• Handmade Jewelry : Creating and selling bracelets, necklaces, or earrings using beads, strings, or other materials.
• Artwork : Selling original paintings, drawings, or crafts at local markets or online.
• Homemade Candles : Making and selling candles in different scents and designs.
• Bath Bombs and Soap : Creating bath bombs, soaps, or body scrubs with safe and natural ingredients.
• Customized T-Shirts or Clothing : Designing and selling custom-printed t-shirts, hoodies, or other apparel items.
• Baked Goods : Selling homemade cookies, cupcakes, or specialty cakes.
• Greeting Cards : Designing and selling handmade greeting cards for various occasions.
• Stuffed Animals or Plush Toys : Making and selling handmade stuffed animals or plush toys.
• Upcycled Crafts : Creating new products from recycled materials, such as bags from old jeans or jewelry from bottle caps.
• Decorative Items : Making and selling home decor items like painted pots, decorative frames, or wall hangings.
• Personalized Stationery : Designing and selling personalized notepads, bookmarks, or journals.
• Miniature Gardens or Terrariums : Creating and selling miniature gardens or terrariums with small plants and decorative elements.
• Handcrafted Accessories : Making and selling accessories like hair bows, keychains, or phone cases.
• DIY Kits : Creating and selling DIY kits for other kids to make crafts, jewelry, or other creative projects.
• Planters : Designing and selling handmade planters for indoor or outdoor plants.

These product-based businesses can be started with relatively low initial investment, especially if kids use materials they already have or can source inexpensively. It’s important for kids to learn about pricing, marketing, and customer service while also considering any necessary permits or regulations for selling their products locally or online.

Download the Free Kids Business Planner Here

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Hi, I’m Jessica! I am wife to Chris, and mom to Kaiper, Alana and Koa. I am a graphic designer, website developer and aspiring author. In this space, I share about everything from parenting, working from home, food we cook, and lots of things for kids! Learn more about me here.

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Helping Your Child with their Kid Business Plan

Updated: Jun 13, 2023

How To Start A Business For Kids - A Guide to Crafting a Kid Business Plan & Template

Welcome parents of young entrepreneurs! Let's dive into the world of business plans to equip you with the knowledge and tools to support your kid's entrepreneur ideas . Whether your little one dreams of starting a neighborhood bakery, a babysitting service, or a craft business, we're here to help you guide them in writing a basic business plan for kids. Let's unlock their potential, foster their creativity , and lay the foundation for their entrepreneurial success!

Start with a Solid Plan - Tips for Parents

Every successful endeavor starts with a plan, and for children, a well-crafted business plan acts as a compass, guiding them toward their goals. It empowers them to define their vision, understand their target audience, manage finances, and set achievable milestones. By guiding them through the process, children develop ownership of the business and start to build vital strategic skills.

Key Elements of a Business Plan

To make the process smoother (and more fun), we have prepared a simple template for your child's business plan. Keep in mind that this template serves as a starting point, and your child's unique ideas and creativity should shine through in every section. There are extra pages in case you need them.

Below are elements that would be included in any business plan for adults. We've provided this below so that you can see what is normally included in a business plan. It's here to give you more detail on what business best practices are should you need to answer their smart questions or if you have more older kids.

This is the Grown-Up Version:

1. Executive Summary:

Introduce the business idea and the entrepreneur.

Highlight key objectives and provide a brief summary of the plan.

2. Business Description:

Describe the business concept in detail, emphasizing its uniqueness.

Clearly define the products or services.

Set goals for your business

3. Market Analysis:

Identify the target market and demonstrate an understanding of their needs.

Analyze competitors and highlight potential market opportunities.

4. Marketing and Sales Strategy:

Develop a branding strategy that aligns with your vision.

Outline the marketing channels to reach the target audience effectively.

Consider pricing strategies and include sales projections.

5. Operations and Management:

Describe the day-to-day operations and responsibilities of the business.

Identify any necessary resources and equipment.

6. Financial Projections:

Estimate the startup costs, projected revenue, and expected expenses.

Conduct a break-even analysis and project profit margins.

Of course the kid version is a lot simpler and more fun!

The most important aspect of any business plan is the passion and dedication brought by your child entrepreneur. This is a tool for them to steer them and keep them on track building their business. They should add their own unique information and display it proudly.

• Business Skills
• For Parents

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