Pricing Products for Kid Businesses

The kid pricing rule: double your cost

If a bracelet costs $1 in beads, the price is $2 (or rounded up to a friendly $3). If a lemonade cup costs $0.30 in lemons and cups, the price is at least $1.

When you get older you can use fancier formulas. For your first business, doubling works fine.

Round to friendly numbers

$1, $2, $3, $5, $10. Avoid $1.99 or $4.50 — they take longer to make change for and they feel less serious.

Decide your goal

'I want to make $50 this weekend' is way more useful than 'I want to make money.' Write your goal big on a piece of paper and tape it to the inside of your cash box.

Track every sale

Use a notebook. Write the time, the item, and the price. At the end of the day, add it up. You'll feel proud — and you'll know which products sell.