How do u start ur own business as a teen?

Answer 1

Come up with a GREAT idea...something that's easy for you to do, something you enjoy doing, and something other people will desire (if you can think of something, there's bound to be someone out there who wants it).

I'm 17 and I'm writing a novel. I do research, I plan, and I attend a writing group in my area. Find other people who can help you to accomplish what you want to do. It'll probably be necessary for you to save up money to get something started. Find a part-time job, now that it's summer, and set aside an envelope or something in to which you can put money specifically for your enterprise.

Good luck!

Answer 2

entrepeneur.com has good articles about small business start up - and there is also a website for the small business administration - sba.gov. Since you are a teen, you probably want to check if you can legally operate a business without an adult as a partner - because you're under the age of majority and most states won't honor contracts from minors. There are a TON of teens who do good things with great ideas, so do a little looking and I'm sure you'll have success. Good luck!

Answer 3

Write out a business plan. Here's a starting point:

Writing the Plan

What goes in a business plan? The body can be divided into four distinct sections:

1) Description of the business
2) Marketing
3) Finances
4) Management

Addenda should include an executive summary, supporting documents, and financial projections.
Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline:

Elements of a Business Plan

1. Cover sheet
2. Statement of purpose
3. Table of contents
I. The Business
A. Description of business
B. Marketing
C. Competition
D. Operating procedures
E. Personnel
F. Business insurance

II. Financial Data
A. Loan applications
B. Capital equipment and supply list
C. Balance sheet
D. Breakeven analysis
E. Pro-forma income projections (profit & loss statements)
Three-year summary
Detail by month, first year
Detail by quarters, second and third years
Assumptions upon which projections were based
F. Pro-forma cash flow

III. Supporting Documents
Tax returns of principals for last three years Personal financial
statement (all banks have these forms)
For franchised businesses, a copy of franchise contract and all
supporting documents provided by the franchisor
Copy of proposed lease or purchase agreement for building space
Copy of licenses and other legal documents
Copy of resumes of all principals
Copies of letters of intent from suppliers, etc.

I wrote a business plan when I started by home business as a Southern Living At Home consultant. It helped me reach my goals w/my business.

http://www.SouthernLivingAtHome.com/TriciaZeis

Answer 4

Depends on what kind of business you want to start. Do you want to sell something or do you want to provide a service? Choose something you like!

I'm a teen, too, and I can't start a business b/c my parents won't let me, but here's what I would do if I could:

1) get the basic business plan (What is this business going to do? Why is it good?), figure out if you want it to be an LLC, or a corporation. Probably, if it's a small business, you'll want it to be an LLC - limited liability company.

2) learn to sell. You won't be able to do anything if you can't sell well.

3) figure out how much you would make (income) if you got so many customers, noting all the possible expenses you can think of. (This would be coming up with financial projections)

4) look for investors. show them your business plan and your financial projections. The bank won't lend you money unless you have a job or something, so why bother w/ that? Try telling people who have money and you trust about your business idea and don't give out any valuable info that they could steal from you.
Don't let the lack of money stop you!!! True entrepreneurs don't let the lack of money stop them. You can pull through!

5) Create it! Print out the "Articles of Organization" form for your state and make it into an LLC - if you choose.

6) Do your best to make it a success! good luck!

Answer 5

Find a need and fill it. Baby sitting, lawn mowing, removing animal waste from someone's yard. If it is something people would rather pay to have done than do themselves you can be successful.

Heck, clean out gutters or paint the eaves and overhangs, wash windows. Ask your parents and their friends what they would rather pay than do themselves.

Good luck and congratulations on career as an entrepreneur.

Answer 6

Thats quite brave of you, but its really getting more common to have young entrepreneurs these days. I say, go for it! If you believe in yourself, you can do it! Surround yourself with creative and positive people, learn from their mistakes and have a good set of contacts. Of course, it would help if you have a background of the mechanics of the field you will be specializing in. Be ahead of the pack, think outside the box and pray for guidance from the only one who can make things possible...God!

Answer 7

Unless you are a trust fund baby you usually need to get a job first and save enough to open your own business.

You cannot get a loan if you are a teen (Unless you get the loan from your parents or granparents)

Answer 8

Study international commodity markets-go to the kitco web-site it will tell you a lot about commodities and send away for the prospectuses from companies,study them find what interests you and keep sending for information and go to investment meetings and shows-good-luck!

Answer 9

Start with an intriguing idea and invest wisely. Start small and get some advertising. Good Luck :)

Answer 10

Find someone to work for you and earn some money and decide what your going to put in your store.