4 business ideas that can make your teenager rich

Encouraging students to venture into business in teen years can help them learn hard work. It can also be a great lesson in entrepreneurship while helping them make some money. Helping your teenager starting a part-time business is also a great way to keep him engaged fruitfully during the lockdown. Here are some ideas that a student can explore.  

Online Tuition 
It is a very popular part-time occupation among youngsters. The first step would be to help your teenager choose subjects based on her areas of expertise. The next step would be to register with a website that offers online tuition. All she needs to do is fill up a simple form provided on the website. Help your daughter with a detailed research on the platforms that offer online tuition. She can also create a YouTube channel and publish tutorial videos there.  

YouTube Channel 
YouTube is the world’s second largest search engine now. It can be a potential platform for teenagers to make money. All he needs is a smartphone with high-quality camera, decent backdrop and a strong internet connection. Popular Youtubers earn well from advertisements after their videos gain a certain volume of viewership. Though time consuming, it is a popular way of monetising a YouTube channel. One has to create an account in Google AdSense for the purpose. Affiliate marketing is another way of making money from YouTube. Your kid needs to create an affiliate account with an e-commerce site, choose products related to his channel and promote them in his videos. In this method, the income happens through commission per sale. Apart from these, other possible ways of making money through YouTube include paid promotion, premium membership, etc.  

Blogging 
This is another way students can make money, if they have a flair for writing. The first step would be to choose a niche in terms of content, followed by creating one with the help of free blog hosting services like WordPress, Medium and Blogger among others. Social media handles like Facebook and Instagram can work as powerful channels to popularise the blog and increase viewership. Once the blog has substantial amount of traffic, it can be monetised through advertisement and affiliate marketing. Another option could be selling an e-book on the blog. Choosing the right topic for e-book is very crucial. Easy tip: Help your kid choose her best blog articles for the compilation of e-book.  

Social Media  
Yes, youngsters can make money simply by posting on their social media handles if they have a decent volume of followers. However, going by the current trends, quality matters more than quantity. Nowadays, brands are more interested in a small but niche and engaged audience than a large number of disinterested followers. For example, if your teenager doesn’t have a huge audience, but has a small group of genuine travel enthusiasts as his followers, he will have a strong selling point to brands catering to the hospitality industry. In terms of content, you need to help your teenager choose his niche, if he wants to make it big on social media.