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Bake Sales Build Kids' Business Skills

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Of course we all want the best for our kids. We encourage them to learn other languages, try different instruments, and play sports to stay active.

kids at a bake sale

Chef Nikki Shaw: Well, here's a great way to let their creative juices flow and their entrepreneurial skills grow! Help your child take part in the next school bake sale.

First, make a list of all the recipe ingredients. Allow your child to search the store aisles for each item -- this will also familiarize them with having to do the family grocery shopping. Save the receipt to see the price of each item. Next, roughly estimate the cost of how much you really used. For example, if a dozen eggs cost $3.00 and you only used one egg for your cookie recipe, you only spent 25 cents on eggs.

Here comes the fun part: Get in the kitchen and create a masterpiece. Let them bake and individually wrap each tasty treat. Help your child give their product a reasonable price, then let them subtract the food cost to find the profit.

"NIK TIP": There's always a method to my madness! Enjoy the quality time that you'll be spending with your child -- this is priceless. Understand that there will be a mess -- just relax and let it be ALL ABOUT THEM.

In this bitter economy, I'll show you how to make life sweet right at home.

next: Just a Guy Who Is Very Grateful
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