The new generation has surprising purchasing power and they are not shying away from creating ways to do so. Kids, teens, and college students are starting businesses in droves, gaining valuable life skills and selling. These young entrepreneurs are building the businesses of the future. Whether inspired by family, events, or a desire to have fun, these young entrepreneurs set out to tackle the world of business.
While there are some challenges to starting a business young like getting parental approval and working around a class schedule, young entrepreneurs are in the best position to meet the needs of coming-of-age consumers. Some successful young entrepreneurs start really young.
Who is a young entrepreneur?
A young entrepreneur is a child or young adult who assumes risks to start and operate a business or finds new ways to do business better. They are the type of person who identifies and pursues opportunities without allowing risks to become barriers.
Business tips for young entrepreneurs
Young people can start a number of businesses while they are still in school or soon after graduation. To be a successful business entrepreneur one need to focus on business models that accommodate busy school and social schedules and choose an idea based on an interest or hobby, or related to a dream career.
Take advantage of the built-in network of customers (peers at school) and come up with an idea to serve that audience. Otherwise, cater to the needs of a local neighborhood. Some tips for young entrepreneurs include:
- Designing and selling t-shirts, mugs, notebook using print on demand
- Event manager and selling party supplies
- Handmade crafts at local events
- Starting a pop-up for other young entrepreneurs
- Personal shopper or home décor consulting
- Starting a YouTube channel.
Whether you’re looking for business ideas for teens or for younger children, there are opportunities for young people of all ages. It’s never too early to gain résumé-worthy experiences and skills like money management and community building.
Top successful young entrepreneurs
Many businesses get started in the most unlikely of places, sometimes even in a middle school classroom or a college dorm. These successful young entrepreneurs learned the ropes early and launched their businesses.
Yelitsa Jean Charles
While she was studying art at the Rhode Island School of Design, where Dove conducted a study and found that only 4 out of 10 girls love their curls. Toys impact how we think, act, and perceive ourselves. So when girls can’t find dolls that look like them, it negatively impacts their self esteem. That’s when she decided to launched her brand Healthy Roots Dolls in 2014, leveraging resources and networks at college. The company has since raised $1.5 million in funding, secured a partnership with Procter & Gamble, and recently landed a deal with Target.
Hart Main
At age 13, Hart Main came up with the idea of manly scented candles. Hart and his parents contributed nominal amounts to begin the business and worked together to develop the candles, cleverly named ManCans. They are now handmade by the Beaver Creek Candle Company in Lisbon, Ohio, by a workforce consisting of people diagnosed with developmental challenges.
As of 2016, Hart’s candles are sold in every state, with sales exceeding six figures annually. Giving back to the community, Hart donates part of each sale to soup kitchens in Ohio, Pennsylvania, West Virginia, and Michigan.
Kamaria Warren
At age seven, Kamaria Warren and her mom went shopping for birthday invitations for her upcoming party. They found no product that represented Brown and Black girls. And that’s where Brown Girls Stationery was born.
This set Kamaria on the route to creating party and school supplies, stationery, vegan purses, and accessories for girls. Most products bear a cheery illustration of a Black or Brown girl, and Warren also sells dolls. She sells her products on Shopify, Faire Marketplace, wholesale, and at local events. On average, Warren sells some 10,000 notebooks, 2,500 notepads, and 1,500 backpacks each year.
Ryan Hickman
Ryan Hickman realized at age three that he did not like seeing discarded bottles and cans lying on the ground. Hickman started collecting his family’s recyclables and sold it to the local recycling center, where he got $5. By age seven, the Orange County, Calif., boy was running his own business, Ryan’s Recycling Company.
Hickman has been lauded through the years by news organizations, including CNN Kid Wonder in 2017. He has also appeared on many national TV shows, including “Ellen” and “Today”. All profits from selling his merchandise and recycling go to the rescue organization Pacific Marine Mammal Center. By April 2022, it had raised more than $14,000 and helped recycle 1.5 million cans and bottles.
Simone Hufana
While she was still a college student, Simone created her brand out of a desire to see more representation of women of color in the world. Her coloring books introduce young girls to the amazing women that inspired her to love herself.
One day, she hopes to take the brand global (mostly for the travel perks).
Lily Born
At age eight, Lily noticed her grandfather who had Parkinson’s disease, frequently spilled his drinks, often leaving her grandmother to clear up the mess.
Born invented the three-legged cup, known as the Kangaroo cup, that would not tip and started her company called Imagiroo LLC.
She perfected the design with her dad by going to China and prepareed production run of ceramic cups, which come in plastic, too. They also got financial support from the crowdfunding platforms Kickstarter and Indiegogo.
Today, Born has sold tens of thousands of Kangaroo cups worldwide and serves as an inspiration to children like her.
Kiki Hardee
It was a good heart that led Katelynn “Kiki” Hardee at age five to make sure that neither her schoolmates’ families nor local schools incurred debt for school meals. She learned that her school was in $600 school lunch debt and some kids had to skip lunch as parents could not afford.
To raise money, Hardee began selling cookies and hot cocoa, as well as running other fundraisers, in what became known as Kiki’s Kindness Project. Eventually, Hardee raised enough money to pay off the entire district’s lunch debt to the tune of more than $7,000. Hardee’s ongoing efforts have raised more than $22,000 with the goal of collecting $250,000.
Michael ‘Mikey’ Wren
At eight, he started Mikey’s Munchies Vending, a collection of vending machines. That was just the beginning.
Wren helps the community by volunteering to teach financial literacy and hosts an annual drive to donate new toys to local kids. He has also written two children’s books, Mikey Learns About Business, and networking, and Biz Is a Whiz for children pre-K to 3. He regularly books speaking engagements to talk about his work.
Moziah Bridges
Moziah Bridges, at age nine was unable to find a suitable bowtie. So he started Mo’s Bows, first by learning to sew and then using leftovers from his grandmother’s sewing projects. Eventually, he hired tailors while he handled the creative and business sides.
Bridges, has appeared on “Shark Tank,” has sold more than $700,000 in handmade men’s ties and accessories. He once gave then-President Barack Obama a custom-made tie in “Obama Blue,” and his company also produced bowties and neckties for all 30 National Basketball Association teams.
It’s evident from these young peoples’ stories that being an entrepreneur is not a one-size-fits-all endeavor. It involves believing in the potential of ideas and pursuing them. These young entrepreneurs, have one thing in common, they found an opportunity and seized it which is the true essence of entrepreneurship.
Young entrepreneurs are in the best position to meet the needs of young customers. Consumer trends show that Gen Z and Gen Alpha customers have different needs than previous generations. The young entrepreneurs of today will access audiences in new ways and dictate future commerce trends.
