It’s rather unfortunate that kids aren’t given classes in how to manage and save money in the public schools. As a result, kids grow up to be adults with massive credit card date and no clue as to how to save for retirement. You can help to change this with this new business idea!
If you like teaching and working with kids and have some financial savvy, you can make money teaching kids the art of saving and managing money, thereby helping them grow into financially responsible adults. To teach these classes, you need a basic understanding of money management and the ability to translate this knowledge into simple terms kids can understand. There’s no need for an advanced business degree!
To keep your overhead low, find a space in a church or school you can rent out on an as needed basis for classes. You could target kids in the age range from 10-14 years of age and offer a second, more advanced class for teenagers. Concentrate on teaching your students the importance of saving the money they earn from their allowance and various odd jobs, as well as how to budget their earnings and keep good financial records. You could also touch upon ways of earning extra money during summer vacation, as well as the principles of making money grow by investing. The earlier you teach them the principles of sound money management, the more likely they’ll grow up to be financially savvy adults.
You could market your classes through referrals from local schools in your area and could also offer to hold classes on the school premises. Post flyers on bulletin boards in local libraries and grocery stores. Your local libraries also may be willing to help you promote the classes as well as offer you a space for teaching in one of their conference rooms. You might also consider comarketing your business with one of the local banks who could set up starter savings accounts for new graduates of your kids business school.
When you design your flyer, emphasize to parents the benefits your classes will offer their kids. Let them know that kids need to learn the art of money management early so they won’t grow up to be one of many Americans mired in financial debt. Plus, they’ll be less likely to mooch off mom and dad when they get older!
Use the power of the internet to promote your class by having an informational website listing the topics to be covered in your classes along with complete registration information. Advertise your classes through local online classifieds and through your local online yellow page directory. You might also offer a class discount to anyone who signs up with a friend.
If done properly, you should do very well, as you’re targeting a niche that’s been long underserved by the public schools. Give this kid business idea a try and help to make the kids of today the astute money managers of tomorrow!