DLTK's Crafts for Kids
Nurturing Entrepreneurial Spirit in Kids

by Darren Guenther, CPA

Hey there, craft-loving friends! I'm an accountant by profession, but today I want to share with you something I'm passionate about - nurturing an entrepreneurial spirit in children. As a parent and a professional, I believe it's essential to equip our kids with the right mindset and skills to tackle the challenges they'll face in their future careers. What better way to do this than by merging our love for crafts with some entrepreneurial thinking? Keep in mind though, that not everyone loves building their own micro-business and that's ok too! Some children will find this all very exciting and others would pursue another passion -- I let my kids lead the way when it comes to what to pursue. Making supper with mom or puttering in the garden with grandpa teach important life skills too!

Assuming one of the kids wants to build a micro-business with a bit of help from dad...

First things first, let's talk about what it means to have an entrepreneurial spirit. It's all about being creative, resourceful, and having the courage to take risks. It's about thinking outside the box and finding solutions to problems. Now, let's dive into how we can encourage this spirit in our children using crafts as a fun and engaging medium.

One of my favorite ways to introduce kids to entrepreneurship is by organizing a mini craft fair or marketplace. Not only is this a fun activity, but it also helps children learn about creating products, setting prices, and selling their creations. Start by having your child come up with a list of crafts they enjoy making and think others would want to buy. Any of the DIY crafts on the website would work well! It's an opportunity to discuss the concept of supply and demand, as well as the importance of uniqueness and creativity in a product.

Craft kits are also a great product to sell. Instead of completing all the crafts, your child can complete one finished sample and then put together all the materials needed to make the craft. This kit of materials becomes the product! Craft kits sell wonderfully at craft fairs, street side lemonade/craft stands and community garage sales!

Next, set up a little crafting station at home for your child, where they can create their products. It's essential to let them take the lead in this process, as this will encourage independence and responsibility. Offer guidance when needed, but remember that this is their project.

While your child is busy crafting, you can discuss marketing and advertising strategies. Teach them about the importance of presenting their products in an appealing manner and how they can use posters, flyers, or social media to spread the word about their craft fair. This is an excellent opportunity to introduce the idea of branding and how it can help differentiate their products from those of others.

When the big day comes, help your child set up their little shop, making sure their products are displayed in an attractive way. Encourage them to interact with potential customers and share the story behind their crafts. This will help them learn communication and sales skills.

After the craft fair, sit down with your child and talk about their experience. Discuss the successes and challenges they faced, and what they can do differently next time. This is an excellent time to teach them about the importance of reflection and learning from their experiences.

Of course, this is just one example of how you can nurture an entrepreneurial spirit in your child using crafts. The possibilities are endless, so feel free to get creative and think of other ways to combine these two passions.

In the end, it's all about providing our kids with the tools and experiences they need to develop an entrepreneurial mindset. This will empower them to face challenges with confidence and resilience, setting them up for success in whatever path they choose. And who knows, you might just be raising the next generation of successful entrepreneurs, all while having fun with crafts!

Craft Kit Inspiration

Here are 20 homemade craft kit ideas that your child could put together and sell at a craft fair. These kits can inspire creativity in others while also providing a fun and unique product for your child's entrepreneurial venture.

1. Friendship bracelet kit: Include various colors of embroidery floss, beads, and an instruction printout with different patterns (you can print the instructions from our site or write out your own!).
2. DIY slime kit: Provide bottles of glue, containers of activator, food coloring, and fun add-ins like glitter, foam beads, or sequins.
3. Customizable tote bag kit: Offer plain canvas tote bags, fabric markers or paint, and stencils for designing unique, personalized bags.
4. Paint-your-own pottery kit: Include small, unpainted ceramic pieces or diy air dry clay in a plastic bag, acrylic paints, brushes, and sealing spray.
5. Mosaic art kit: Provide a small wooden frame or box, colorful tiles, glue, and grout, along with an instructional guide.
6. Paper Plate Crafts: Offer a paper plate, pre-cut template pieces, a small bottle of glue, acrylic paints and a brush.
7. Beaded jewelry kit: Include beads, elastic, string or wire, clasps, and a booklet with various jewelry design ideas. Make the booklet yourself by taking photos of jewelry you design. Set these sample jewelry pieces out on the table to draw in customers or make lots of them and sell both the completed jewelry pieces and the make your own jewelry kits!
8. Paper bag puppet kit: Offer pre-cut template pieces, glue, and instructions for assembling cute animal puppets. You can also offer a printed out fairy tale to read with the puppet.
9. Origami kit: Provide a selection of colorful origami paper, a small instruction booklet with various folding patterns, and optional embellishments like stickers or markers.
10. DIY bath bomb kit: Include baking soda, citric acid, fragrance oils, molds, and instructions for creating fizzy, fragrant bath bombs.
11. Tie-dye kit: Offer plain white t-shirts, rubber bands, gloves, and a variety of fabric dye colors, along with step-by-step instructions.
12. DIY popsicle stick bird feeder kit: Provide popsicle sticks, acrylic paint, glue, a small bag of birdseed and instructions for creating a beautiful bird feeder.
13. Paint-by-number kit: Offer a pre-drawn canvas, numbered paint pots, brushes, and an instruction sheet to guide the painting process.
14. Decorate-your-own birdhouse kit: Include a plain wooden birdhouse, acrylic paints, brushes, and optional embellishments like stickers or gems.
15. Sew-your-own stuffed animal kit: Provide pre-cut fabric pieces, stuffing, a needle, and thread, along with assembly instructions.
16. DIY lip balm kit: Offer beeswax, coconut oil, small containers, flavor oils, and a guide to creating personalized lip balms.
17. Decorate-your-own phone case kit: Include a plain phone case, adhesive gems, stickers, and paint pens for customization.
18. DIY Foosball Table: Provide a shoebox, dowels, clothespins, a ping pong ball, acrylic paint and an instruction sheet for making your own mini foosball table.
19. Scrapbooking starter kit: Offer a small scrapbook, decorative paper, stickers, adhesive, and other embellishments for creating unique memory pages.
20. DIY flower arrangement kit: Include a small vase, floral foam, an assortment of silk flowers, and instructions for arranging a beautiful centerpiece.

These craft kit ideas offer a wide variety of creative outlets, allowing your preteen to cater to diverse interests and preferences at their craft fair. The key is to provide all the necessary materials and clear instructions, ensuring that customers of all ages and skill levels can enjoy creating their own homemade masterpieces.

Pitching the Project - For Older Children

Now we're going to talk a bit more about budgeting and pitching for a craft fair, specifically tailored to older kids who are ready to dive deeper into the business side of things. This is an excellent opportunity for them to learn essential financial skills while enjoying their favorite crafty hobbies.

To kick things off, let's discuss the importance of budgeting. It's a fundamental skill that not only helps individuals manage their personal finances but also plays a crucial role in running a successful business. Learning to budget at an early age will set your child up for a lifetime of financial success.

So, let's break down the process of budgeting for a craft fair into a few easy steps.

1. Create a business plan: Encourage your child to develop a detailed business plan that outlines their product ideas, target market, and sales strategies. This will help them understand the scope of their project and provide a clear direction for their budget.
   
   OK... that sounds a little complicated and formal, but really what this means is making an example of what they're going to sell and talking a bit about what supplies they'll need, how many they plan to make and how/where they plan to sell. For example, our community runs a neighbourhood garage sale each summer and setting up a combo lemonade stand and craft kit sales booth has worked out very well!
2. Present a pitch to parents: Have your child prepare a pitch, just like real entrepreneurs do when seeking funding from investors. This pitch should cover their business plan, budget, and projected profits. As parents, you can act as the "investors," providing seed money for their craft fair venture. Make sure to set a reasonable budget that aligns with the scope of their project.
3. List expenses: Help your child create a comprehensive list of all the expenses they'll need to cover, such as materials, marketing, and transportation. Encourage them to research the costs of these items and find the most cost-effective options.
4. Allocate funds: Once they have a clear idea of their expenses, it's time to allocate the seed money provided by the "investors" (parents) to cover these costs. Make sure they understand the importance of sticking to their budget and not overspending.
5. Track profits and losses: After the craft fair, sit down with your child and review their sales, expenses, and overall profits or losses. This is a fantastic opportunity to teach them about profit margins, return on investment, and the importance of analyzing their financial performance.

Throughout this process, remind your child that making mistakes is a natural part of the learning experience. The goal is to help them understand the value of money, the significance of budgeting, and the thrill of turning a profit through hard work and dedication.

By guiding your child through the process of budgeting and pitching for their craft fair, you're not only nurturing their entrepreneurial spirit but also teaching them valuable life skills. Who knows, maybe this experience will inspire them to become successful entrepreneurs or financially savvy individuals in the future.

So go ahead, let your child take the lead on this exciting journey, and watch them grow into resourceful, financially responsible individuals, all while having a blast with their creative craft projects.

Venue Ideas

Timing is everything! So what are the best times of the year and ideal venues for hosting a successful craft fair that will help your child maximize their profits and enjoy a fantastic entrepreneurial experience.

1. Seasonal festivities

One of the best times to organize a craft fair is during the holiday season. People are in a festive mood and often looking for unique gifts for their loved ones. From Christmas to Valentine's Day, Easter to Halloween, tapping into the festive spirit can significantly boost your child's sales. Make sure their products are aligned with the theme of the season, and they'll have a much higher chance of success.

2. School events

School events, such as sports games, open days, and parent-teacher conferences, are excellent opportunities for your child to set up their craft booth. Parents, teachers, and fellow students will be more inclined to support young entrepreneurs in their community. Coordinate with school administrators to find the perfect event and date for your child's craft fair.

3. Community markets and fairs

Many communities host regular markets, neighbourhood garage sales and christmas fairs, which can be great venues for your child's craft booth. These events often attract local shoppers and provide an excellent opportunity to engage with potential customers. Research the dates and requirements for setting up a booth at your local market or fair and help your child prepare accordingly.

4. Charity events and fundraisers

Participating in charity events or fundraisers can be a win-win situation. Not only will your child get the opportunity to sell their crafts, but they'll also be contributing to a worthy cause. Reach out to local organizations to find out about upcoming events and discuss the possibility of including your child's craft booth.

5. Online craft fairs

In the digital age, online craft fairs have become increasingly popular. Websites like Etsy and Handmade at Amazon allow artisans to showcase and sell their products to a global audience. Help your child set up an online shop and promote their crafts through social media platforms. This can be an excellent option if you want to reach a larger audience without being limited by geographical location or specific dates.

Finding the ideal venue

When choosing a venue for your child's craft fair, keep these factors in mind:

• Foot traffic: Opt for a location with high foot traffic, such as community centers, parks, or school grounds, to increase the chances of attracting potential customers.
• Accessibility: Make sure the venue is easily accessible by public transport or has ample parking available.
• Space and facilities: Ensure the venue has enough space for all the craft booths and provides necessary facilities like restrooms, electricity, and water.
• Weather considerations: If planning an outdoor craft fair, always have a backup plan in case of inclement weather.

Remember, timing and location are crucial for the success of your child's craft fair. By carefully considering these factors and planning accordingly, you'll help them make the most of their entrepreneurial journey while having a fantastic time doing what they love: crafting! So, get out there, explore the possibilities, and watch your child's craft business flourish.