Learning the Ins and Outs of a Business

An excellent way to help your child learn how a business operates is to have her create one. She can make wallets out of colored duct tape, put up a lemonade stand, or walk a few of the neighborhood dogs. Have her create a business plan after deciding on an idea. The plan should include advertising ideas, how much the item or service will sell for, how much profit is made when each item is sold or each service is ordered, and ways the business could grow in the future. If your child's mini business is successful, you can move on to lessons on saving, spending, and donating to charity.