• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Micro Business for Teens

Starting and running a micro business

  • Home
  • About
    • Speaker/Workshops
    • Media Kit
    • What Others Say
  • Products
    • Micro Business for Teens Curriculum
    • Starting a Micro Business book
    • Running a Micro Business book
    • Money and Taxes in a Micro Business
    • Micro Business for Teens Workbook
    • Video: Starting a Micro Business
    • Career Exploration
  • Teacher Resources
  • Contact
  • Blog

Starting a Micro, Blog · June 15, 2013

Is a father-son partnership a good idea?

You are here: Home / Starting a Micro / Is a father-son partnership a good idea?
Photo credit: photostock and FreeDigitalPhotos.net
Photo credit: photostock and FreeDigitalPhotos.net

My son wants me to go into business with him. He is selling marshmallow launchers at festivals. I will front all the money to buy the booth spaces and supplies to make the product. He is to give me 40/60, plus the expenses.

After reading your book (Starting a Micro Business), should I front him the money and he pay me back? Or should I do a partnership with him. I would really like him to have credit for starting his own business.

Thanks for your help,
M.D. from Ohio

 

Dear M.D.,
In general I discourage business partnerships. In Starting a Micro Business I share four reasons why partnerships can be a bad idea:

  1. Difficult to dissolve
  2. Unequal efforts from the partners
  3. Liable for the debts of another
  4. Tied for life to your partner

Instead, I usually suggest a parent loan the teenager the start up money and then be repaid over time. That way there is no long term sharing of the profits after the start up loan is paid off.

I hope it goes well and your son learns a lot!

Carol Topp, CPA

Related posts:

  1. Micro Business Idea: Eggs!
  2. Micro Business Idea: Food Stand
  3. 10 Micro Tips for Micro Businesses: Make a Plan
  4. 10 Micro Tips for Micro Businesses: Use What You Own
  5. 10 Micro Tips for Micro Businesses: Keep it Manageable

Filed Under: Starting a Micro, Blog Tagged With: micro business, partnership, start up, teenager

Carol Topp, CPA

Footer

Connect with author Carol Topp, CPA

Tags

advertising Author business business plan Career exploration Carol Topp customer service debt Dollars and Sense Show entrepreneur how to start a business Ideas internet make money Marketing micro business micro business for teens Micro business idea money PBS plan podcast product based business publishing record keeping running a micro business sales sale tax service based business start a business start a micro business Starting a Micro Business start micro business start up success taxes teen teenage author teenager teenagers teen business teen business idea traditional publishing Ultimate Homeschool Radio Network writing

From a parent

Thank you for your e-book on teen micro businesses. Your valuable experience and wealth of knowledge is vast.

Your presentations at Cincinnati homeschool conferences and sharing with us over the years have benefited us well.

I can hardly believe we are at this point in our life-and here he is a young man ready to try his fortune with the world.

-Mandy S

Newsletter

Copyright © 2025 · Showcase Pro on Genesis Framework · WordPress · Log in