10 Small Business Ideas for Teens and Young Adults
Entrepreneurial spirit and success are not distinguished by age, teens and young adults can start their own small or micro-businesses and can have endless rewards for it. The good thing is that there are literally tens of small business ideas for teens and young adults that do not require huge investment and can be started as a part-time gig.
There are a handful of teens and young adults in the U.S and in other parts of the world who exploit opportunities and make their mark in the world of business and innovations.
Research says that the number of teens and young adults with their own businesses in the U.K has gone up to 700% in the last 10 years. Luckily for teens and young adults, the initial barriers in starting small businesses are less while the incentives are more noteworthy.
Good Small Business Ideas for Teens and Young Adults; How to Find the Right Opportunity
If you are a teen or a young adult looking for some good business ideas that can turn out to be really profitable, you must know how to choose the right business idea. This benchmark will help you in finding a good small business idea for you:
- Home based or easily accessible: Transportation can be a major concern depending on age so starting up with a home based business ideas will be much easier to operate for teens and young adults who are not old enough to drive.
- Flexible hours: (Evenings as well as weekends).
- Low financial investment: Choose a small business idea that requires low financial investment is a key to success.
Other than that, considering interests and aptitude is also a great way to find good small business ideas for teens. And yes, be open to learning and exploring new avenues.
Here are 10 very lucrative and interesting small business ideas for teens and young adults who are serious about making money from a small or micro business.
If you enjoy taking pictures and helping people remember life events, then starting a photography business is a great small business idea for teens and young adults. All you need to do is some training and practice; formal education is not required when it comes to technique.
The financial investment for this business idea can be a bit expensive, to purchase a good camera and lighting equipment so plan to spend approximately $2000-$5000.
A skilled person in a particular subject can make this small business idea a rewarding one by tutoring from their own home or that of a student’s home.
Luckily, the startup cost for this small business idea is virtually nothing but it’s recommended to spend some time and money on advertising and simple brochures can be very effective. Most tutors charge by per hour and with some experience, you can charge $30-$40 per hour.
3- Home Based Baking
If you have a love for baking, you could sell your delicious products for great profits by starting a home based bakery business. All you need to do is to ensure hygiene, good taste, quality, and well & tempting packaging.
Teens and young adults can successfully combine this business with his/her studies without stress.
Babysitting is a $5 billion industry a year, making it an excellent small business idea for those teens and young adults who love children. This business is very easy and flexible to manage and it’s entirely possible to expand this business over time by helping match clients with well-scrutinized babysitters in their area.
Startup and maintenance cost is minimum and helps to maximize profits. Babysitters charge an average of $14 per hour.
5- Errand Runner
For teens and young adults offering the errand service (to deliver, buy or collect something) for neighbors and friends can be a good small business idea.
This business can be very helpful for you if you are home bound or have limited mobility; all you have to do is to drive. You don’t need to have any specialized skills for this business and you can set your own hours of working.
6- Pet Grooming & Dog Walking
Among the best small business ideas for teens and young adults, pet grooming & dog walking is also excellent for those who love spending time with animals. You must need consistent & strong customer service and effective advertising for making this business idea a successful one.
Your initial investment is virtually nothing for this business idea and as a full time pet groomer & dog walker you can earn impressive profits up to $80,000/ year.
7- Becoming Social Media Influencer
This can be an excellent small business idea, as teens & young adults already know that there are lots of celebrities who make money by talking about products on their social media platforms.
Many brands also seek local personalities with a strong following, if you have a strong following then this business idea can be lucrative for you and not that difficult to hunt.
8- Making & Selling Crafts
This can be a fantastic and fun small business idea for you if you are in crafting and your skills lie on the artistic side. You can just be the next big thing in the crafting world if you love making & selling crafts.
People are willing to spend a lot of money on unique hand-crafted items. You can sell virtually anything that you create like drawings, paintings, knitting, fashion sketches, jewelry, accessories, and many more.
Blogging is all about creating useful and educative content for your targeted audience on the internet. As a teenager, if you have good knowledge of a particular subject you can make money by sharing your knowledge with your audience via your blog.
You can attract advertisements from top business organizations, also with AdSense; you can offer subscription services to members via your blog to make money.
10- Becoming a Virtual Assistant
Virtual Assitant is probably one of the best small business ideas for teens and young adults that you can grow into a big and profitable venture at a later stage. There are several organizations that are willing to hire and pay virtual assistants to handle some of their business responsibilities. If you know that you have marketable skill sets, then becoming a virtual assistant is a good small business idea for you.
As a virtual assistant, you can handle various roles e.g. loads of clients on the internet, responding to emails, online marketing, product listing, webpage editing, blogging, and report writing.
The Bottom Line
For teens and young adults, starting a small business will help them in getting a jump on picking up skills, time management, and how to communicate effectively. Not only will you earn some money but also learn how to deal with responsibilities. I am sure, with the above list of small business ideas for teens and young adults you will find a direction to start your own small scale business.