Thanks to the popularity of car boot sales and internet re-selling sites, buying and selling is a great way for children to earn some money of their own.
My eight-year-old neighbour, Lily, is getting really good at buying up toys and games cheaply at fetes and car boot sales then selling them on for a profit — sometimes at the same venue!
And children can make good money (and have lots of fun) by doing similar.
It’s a good idea to get your budding entrepreneur to join in on a declutter session, too, gathering together toys, clothes and accessories they no longer want and allowing them to keep the money they make by selling this ‘stock’ at a car boot sale or online.
Show the children how to price items, how to give people change and how to negotiate the price of something with a potential buyer.Not only will they make handy money but they will gain valuable business skills at the same time.
Thanks to the popularity of car boot sales and internet re-selling sites, buying and selling is a great way for children to earn some money of their own (File image)
Making things to sell is also very popular with children, as with adults now.Kids can bake cakes and sell them from their parents’ car boot or on the front garden using a fold-out table. Sweets are also a popular product for children to make and sell at school, to neighbours or at a car boot sale.
And you never know where even a simple idea like making and selling sweets could lead.
Luke Scotney, 11, from Peterborough, turned his interest in sweets into a proper business.He made at least £1,000 before February this year from his pick-and-mix sweets selection, sweets4mysweet.com, which doesn’t contain traces of nuts or other allergens.
He doesn’t make the sweets himself, but buys them from wholesalers.
Crafty kids can make jewellery or friendship bracelets to sell on Etsy, or turn their artistic talent to creating attractive picture frames or ‘pimping up’ Starbucks cups to sell online, as a friend of one of my MoneyMagpies does.
Luke Scotney, 11, (pictured) from Peterborough, turned his interest in sweets into a proper business
He made at least £1,000 before February this year from his pick-and-mix sweets selection, sweets4mysweet.com, which doesn’t contain traces of nuts or other allergens
Kids with a bit of spark and an interest in acting can make money appearing in TV shows, films and commercials either as part of a crowd or with an actual speaking part.
There are various agencies that provide work like this, particularly those attached to performing arts schools like Italia Conti and Ravenscourt Theatre School Agency — both in London.
Judy McPhee, from the JAM2000 agency in Ruislip, Middlesex, has 3,500 children on her books and says it’s a great way for children to get some experience of work, learn to be part of a team and build their confidence.
Her agency has licensed chaperones who go with the children to look after them when they do their film and TV jobs.
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