A question by Anonymous : I’m a high school and I want to make a business to save up for college because working at a job isn’t what I can do with school. But I can manage my time to make a business if I know it will go somewhere. I don’t think my mom is going to help me get into college or buy me the things I need right now. Any help? I’ve searched it up online but it’s not really clear and transparent.
Update:
I have also been asked to model, but I don’t know if that’s a great idea either. But it would be easier to get money for college.?
Answers
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The only restriction is that because you are under 18, you must register your firm, provide your tax information, and open a bank account in their name (in the US at least). Ensure that you are of legal age before signing up for anything else. I would advise just placing everything under their name so the data is parallel, and then once you turn 18, swap it over to you. Additionally, sign on as a co-signer for banks and other locations where you have the authority to.
The best alternative would be to engage in activities like photography, book authoring, video production, blogging, and other activities that may not require a significant investment but may or may not result in rewards.
This will provide you some insight into how to communicate with others without overpromising. In early age you will see many dreams and will try to make them in reality, later you won’t stop there but will also think of doing something beyond that and might make some pledges which you should have never made or even said.
Vaor
“I hire a teen to mow my lawn. $120/mo in the summer. Cash. What can you do? Babysit, nanny, mowing, gardening, cleanup, “mommy’s helper”. Can you make things and sell on Etsy? Do you have a computer w/ a scanner? Offer to scan and digitize old photos, or create custom scrapbooks. Do you have a talent? Teach beginning piano..”
Mark
“First you have to figure out what kind of business you want to start. Then research it, and write a business plan to help you analyze whether you can make money with it, and what you need to do to start and operate it.”
Judy
“Anything you do will have to be done informally, since you are not of legal age to sign a contract. Minor children can only start a business with the help of a parent. How, depends on what you want to do and what your mom/dad will help you do. Good luck and you are very bright to be thinking well in advance. I bet when you do get your business off to a good start, it will work out great. I see you as very successful in the future.”
babyboomer1001 Certified Paralegal, with 25+ years’ experience
“You can model. You need an AGENT. You will NOT make enough money to do anything. You do NOT need to go to college. 90% of those who go…waste time, money and energy on a degree that ends up being COMPLETELY USELESS. Don’t do it. If you want to be an ENGINEER, LAWYER or PHYSICIAN…you need to get a degree. Everything else…not so much. If you ‘insist’…fine. GO TO A COMMUNITY COLLEGE and get ALL THE PRELIMINARIES out of the way. Then go to a “graduate” school for a masters. Pay as you go. DO NOT GO INTO DEBT for an EDUCATION. It takes 6 year for the average degree these days…which it SHOULD NOT…take 10 years…WHO CARES. Most of what people need for a degree…YOU CAN GET ONLINE…and MUCH if not all…IS FREEEEEEE!”
Anonimous
“I know it won’t be clear to a 16-year-old. The reality is you just can’t offer anything at this point in your life, so in other words you won’t be able to start a business. School, and maybe home work is something you should focus on. People who have their own businesses focus on their business. I already finished school, and I can offer people something. I am not in high school like you, and I finished college a long time ago.”
Anonymous
“99.9% of 16-year Olds cannot for all practical reasons. (Your ideas are not any better than anyone else’s) Getting a job would be hard but possible. Tons of girls get asked to model. There are companies that try to lure parents into spending hundreds or more on professional photos when they have little practical chance of being a model.”
Anonymous