Teaching kids a local business lesson

Do you need something to keep your kids busy during summer vacation? One of our favorite life lessons to be taught is the importance of shopping local and supporting the surrounding community, and starting that conversation with school-aged children is a great time to introduce the topic.

This summer, encourage your children to start their own local business. Whether it is a lemonade, cookie or craft stand, developing a plan will help them learn about running their own business, shopping local and supporting their community in the process.

Have them put their business plan on paper, which includes selecting a business idea, making a list of items you’ll need, creating a profit planner (expenses and profits) and promoting the product or service.

A couple of hints to keep in mind:

• Pick a business that showcases your child; don’t encourage a business that is out of their wheelhouse. What plays into their interests and strengths?
• Use this time to teach them about shopping local and being a local business. Source any ingredients and materials from farmers markets and area businesses. Remind them that their community will be the one supporting them, and in turn, they should support the community.
• Take advantage of events that will already have a larger attendance. Attach their business to a yard sale or block party.
• Use your resources to help promote their business. Use your social media pages such as a Facebook to make an event or help them make and post flyers in the neighborhood.

In no time, your child will see the customers rolling in. When your child sees how they benefit from others shopping at their stand, they will understand the importance of buying local.