Ways to Make Money for Kids
Easy Ways to Make Money If You Are a Kid
You can make money if you are a kid. Here's how I did it when I was your age.
We've written a few articles on how kids can make money.
We are amazed at all you kids that want to make some money. Wow!
Some kids have commented that they need more ideas to make money. So, of course, here we are to help with some more ideas on what kids can do to make money.
I figured I'd share with you how my brothers and I made money when I was a kid.
All the credit goes to my older brother. This was all his idea.
So, here's how a kid can make money.
It worked for us...that is, until we were shut down by Mrs. Mullarkey.
Basically, every so often, we'd get my Dad to drive us over to Cicero Avenue in Chicago where there was a candy wholesaler.
The way business works is that these wholesalers sell to retailers. Then, the retailers charge their customers more than the wholesaler charged them.
Retailer is just another word for store, if you are not aware of that term.
So, that's how stores make money.
They buy wholesale. They sell retail.
The difference between the price they pay for something wholesale and the price they sell it for is their profit.
This is a simple formula for making money if you are a kid.
Buy low, sell high. That's how everybody makes money...and it's a way for kids to make money too!
So, we would buy candy wholesale and then we would sell it to the neighborhood kids. There were a ton of kids in our neighborhood.
So, we might buy $25.00 worth of candy bars and get 50 candy bars. Then, we would sell them to kids for $1.00 each. If we sold all the candy, we would make $50.00 - that's $25.00 in profit that we could keep. Back then, that was a lot of money. We would do it every weekend, so we made some good money.
Eventually, some kids in the neighborhood started getting cavities. Then, my parents got a nasty note from Mrs. Mullarkey, a neighbor on the block, saying that we should not be allowed to sell candy. We were shut down.
So, we diversified into toys. We'd go to the toy wholesaler and buy stuff to sell. We'd buy rubber-band guns and these miniature spy cameras...stuff like that. We made money on that too.
We didn't get rich but we had enough money to buy stuff we wanted. We did other stuff...had newspaper routes, ran lemonade stands, shoveled snow, and we even ran haunted houses and casinos where kids had to pay to get in. It was a lot of fun.
Now, you may not have $25 to go out and buy candy from a wholesaler.
If you don't have money to start with, you have a few options. One is to borrow from your mom or dad or somebody.
Another is to get the kids to pre-pay you and then take the money to the candy wholesaler.
Finally, you can beg the candy wholesaler to give you some candy to sell without paying any money. Sell the first batch of candy and then go back and pay for that bag and use your profits to buy the second bag.
One important thing ... don't eat your candy before you sell it!
Just in case you think you can't make money by selling candy, you might want to know that Warren Buffet, one of the richest men in the world started in business by making money as a kid...just like you want to do.
At the age of 6, he started selling his first thing. Guess what it was?
That's right one of the richest people in the world started out with this good idea for making money as a kid.
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