One of my favorite parts about unschooling is the ability to embrace your child where they are. Foster and encourage ideas and see where they take those ideas and what they learn from them. One of the coolest things about homeschoolers, in general, is that there seems to be a big correlation between homeschooling and entrepreneurs!
About a year ago my daughter was taking ballroom dance lessons and she REALLY wanted to purchase ballroom dance shoes. I told her that the lessons were expensive and that the shoes we had were fine for beginners. But, in typical Remy fashion – NOPE, not good enough. So she decided she would find a way to make enough money to purchase the shoes for herself.
We put our heads together and came up with a few ideas. Some of them were not feasible due to her age, covid, etc… However, mask chains were “all the rage” and she had already made a few for our family and close friends. She decided that was what she wanted to sell.
Steps to getting the business started
- We talked about what being an Entrepreneur was and what it meant to own and run your own business.
- Gave her some “upfront money” to purchase supplies. Explaining that before she could even profit she was expected to pay me back for the supplies.
- We went online onto etsy.com and researched what other people were selling similar items for a price comparison.
- Discussed her pricing after she took out for what she owed me and comparable pricing.
- Decided on 2 prices. 1. $11 for local pickups (her price choice) without personalization. 2. $13 for anyone who wants a name on their chain 3. $15 for folks that needed them shipped it was $15 per chain.
- Took promotional photos using already made chains
- Shared the photos and pricing on social media – the orders started POURING in!
- “Hired” workers (her sister and 2 friends). Paid them 50cents a chain
How did her first ever homeschooling entrepreneur business turn out?
KINDA CRAZY GOOD! She ended up making over $300 (before paying me and her “employees”) the first time she promoted the chains and over $150 the second time. She also learned from the 1st time to the 2nd that she needed to raise her prices. Realizing that her time was more valuable than she had factored in. Overall it was a wonderful learning experience for her. She had to do the math to figure out her totals, promotional work, manage people, payout her “suppliers”, and deliver a finished product.