How To Start a Personal Training Business

How To Start a Personal Training Business

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You have finally taken the plunge.

You’ve been thinking about starting your personal training business for a long time. And now, you’re ready to turn that dream into a reality.

Pretty exciting, right?

But you’re not the only one. It seems like everyone wants to become a personal trainer nowadays, doesn’t it? The Bureau of Labor Statistics predicts that fitness training will grow by at least 8 percent by 2024, so it’s not just your imagination.

That means there’s more competition than ever before. How are you going succeed where many others have failed? How are you going to stand out from the crowd?

These questions can be terrifying to those who are starting a personal training business.

But hey, as a fitness guru, you’re no stranger to competition, right? All you need to do in order to break away from the pack is to know where to begin.

In this post, you will learn some helpful tips that will help you get your personal training business started the right way.

Read on…

Steps for Starting a Personal Training Business

Personal Training Business

How to Start a Personal Training Business Sumary

Key Steps/Considerations Description/Details
Get Certified – Ensure certification based on the type of training
– Get First Aid, CPR, and Automatic Defibrillator certificates.
Understand Your Clients – Comprehend client motivations and fitness goals
– Ask questions about routines, lifestyle, and preferred training styles.
Think About Specializing – Consider focusing on a specific niche (e.g., senior citizens, bodybuilders, etc.) to stand out from competitors.
Get Insured – Protect yourself with the right professional liability insurance.
Do Your Online Marketing Right! – Develop a strong online presence with a website, quality content, and social media.
– Consider using marketing services.
Importance of Continuous Learning – Stay updated with fitness trends, expand knowledge base, and enhance credibility.
– Engage in workshops, webinars, and networking opportunities.
Concluding Remarks – Business acumen can be learned. Standing out requires understanding both fitness and business operations.

Get Certified

First thing first: if you want to start a personal training business, you need to get certified. Depending on the type of training you intend to do, you have to be certified in order to start taking on clients.

Being certified gives your clients confidence in your services. It shows them that you have the knowledge that you need in order to get results.

Here’s what you need to know:

Choose the Right Certifications

Embarking on a career as a personal trainer requires selecting the right certifications, a decision that’s pivotal for your success and credibility. Whether your focus is on strength training, yoga, or cardiovascular conditioning, it’s essential to acquire certifications that align with your chosen niche.

These credentials not only establish your credibility but also showcase your commitment to professional excellence. Moreover, certifications in First Aid, CPR, and Automated External Defibrillators (AED) are indispensable.

They underscore your dedication to client safety and preparedness for any emergencies that may arise during training sessions.

Establish Credibility

In the personal training business, establishing credibility is crucial for attracting and retaining clients. Holding the right certifications is a tangible demonstration of your commitment to excellence in the field.

These credentials not only validate your skills and knowledge but also instill confidence in your clients, assuring them that they’re receiving professional and effective training. Moreover, being certified by recognized institutions enhances your reputation and can significantly impact your marketability and the trust potential clients place in your services.

Safety Certifications

For a personal trainer, obtaining certifications in First Aid, CPR, and the use of Automatic Defibrillators is non-negotiable. These qualifications are essential in ensuring the safety and well-being of your clients during training sessions.

They prepare you to respond effectively to any medical emergencies that might occur, providing a secure environment for your clients to focus on their fitness goals.

In addition, having these safety certifications showcases your dedication to a comprehensive approach to health and fitness, emphasizing the importance of preparedness and client care in all aspects of training.

Compliance and Legal Protection

Adhere to fitness industry regulations and requirements.

Avoid potential lawsuits by having the necessary certifications.

By staying knowledgeable and prepared, you can train clients with confidence and safeguard your venture from liabilities. It’s the key to building a successful, reputable, and enduring personal training enterprise.

Understand Your Clients

Personal Training Business

If you’re going to earn and retain clients, you need to understand where they’re coming from. Remember, your clients come to you because you’re the expert. They are not you, so they don’t think like you do.

When it comes to physical fitness, most of your clients won’t be as driven as you are. If they were, they wouldn’t be hiring you, right? What comes naturally to you won’t come naturally to them.

You need to know what motivates each client. Each one will be different. Take the time to fully understand where each client is coming from. Before beginning your training regimen, get to know them better.

Ask them questions about their routine, goals and lifestyle. What kinds of physical activities do they like best? Are they the kind of person who likes to work out solo? Or do they enjoy a little friendly chit-chat while they do their exercises?

Asking these types of questions will help you put yourself in your client’s shoes. Not only will this enable you to train them more effectively, it will also enable you to form a deeper connection.

People like to know that you’re truly interested in their goals. They want to know you can get them the results they want.

Think About Specializing

This part might sound a little scary. The idea of focusing on a specific niche may sound counterintuitive at first. But if you’re able to do this effectively, you will eliminate most of your competition and earn more clients.

If you truly want to have a devoted customer base, consider specializing in one type of client. The reason business owners are afraid to do this is because they believe they will have to exclude customers. Nobody wants to turn away business, right?

But here’s the thing: if you’re able to focus on one type of customer, it makes you more attractive to the people who fit the type of customer you’re targeting. For example, if a prospective customer sees that you are the expert in marathon training, they’re far more likely to choose you over someone who is more generalized.

Here are some examples of specialization:

  • Senior citizens
  • Young athletes
  • Bodybuilders
  • The physically impaired
  • People who only want to lose weight
  • Cross trainers
  • Professionals who are too busy to work out

Of course, there are many other ways you can specialize. It’s just a matter of figuring out which niche works best for you.

Get Insured

Personal Training Business

This is something many business owners forget. It’s easy to do, isn’t it? You get so caught up in the idea of getting clients that you forget to protect yourself.

Don’t make the mistake of operating uninsured. It’s like driving a car without collision insurance. Sure, you don’t expect anything bad to happen. But you never know. When you invest in the right professional liability insurance, you can ensure that you will be protected.

Do Your Online Marketing Right!

Let me be Captain Obvious for a second. If you’re going to have a personal training business, you need clients.

Duh.

But the real question is this: how do you get clients?

It’s a question that has vexed many business owners. Regardless of your business experience, earning clients can be a huge challenge, especially when you’re busy running the day-to-day operations of your company

Contrary to what many new business owners think, online marketing isn’t just about having a website. Sure, that’s the first step, but there’s more work involved.

An effective online marketing strategy can grow your business long-term, and get your messaging out to a broad range of potential clients. And it’s more than just having a website. You need to get traffic to your website, as well.

Here are some areas to consider:

Focus On High-Quality Content

Let me be blunt…if you’re not going to create great content, there’s no point in having a website. A website without quality content is like a gun without ammo. It’s not good for anything.

Your content is what’s going to get your visitors interested in what you have to offer. It helps you build credibility and provide value to your audience.

Not only that, great content helps you rank higher in search engines. This is incredibly important. The best way to earn more traffic is to make your website easier to find.

Adding a blog to your website gives you the chance to produce engaging content—and tell the story of your brand. Blogging is one of the most effective content marketing tools you can use. It’s a powerful way to connect with your audience.

Use Social Media To Attract More Traffic

Of course, there’s more to building a brand than a website and blog. You also need to promote your website and blog through social media. Build a following on social media, and you’ll increase your chances of earning more clients. It’s one of the most effective methods for connecting with people who need your services.

Here are some helpful social media tips:

  • Don’t use social media to sell. Use it to answer questions and provide value.
  • Be consistent. Don’t do your social media sporadically.
  • Automate your social media. This helps you save time There are plenty of tools to help you do this.
  • Make sure you’re using the right platforms. Get familiar with the channels that your audience is using.

Social media is a great tool for promoting your brand. If you use it the right way, you can connect with more prospective clients.

Consider Using Marketing Services

As you can see, online marketing is a full-time job. You need to commit to providing high quality content, both your own original blog posts and social media material, as well. That’s a lot to add to your (already full) plate.

A personal trainer marketing service with a built-in client base can help you get your name out there and do all the dirty work of seeking out contacts and promoting your personal trainer services. All you have to do is make an online profile, sit back and watch the appointments roll in, while focusing on what you do best: training!

Importance of Continuous Learning for Personal Trainers

As a personal trainer, your journey does not end with obtaining certifications and starting your business. To thrive in the competitive fitness industry and provide the best possible service to your clients, continuous learning is essential. Staying updated on the latest trends, techniques, and research will not only enhance your skills but also boost your credibility as a fitness professional. Here are some compelling reasons why continuous learning is crucial for personal trainers:

  1. Stay Current with Fitness Trends:
  • Fitness trends are constantly evolving, and clients often seek trainers who incorporate the latest methods into their programs.
  • Continuous learning allows you to adapt to emerging trends and offer innovative workout routines and training approaches.
  1. Expand Your Knowledge Base:
  • Continuously learning expands your knowledge beyond basic certifications, enabling you to specialize in various fitness areas.
  • You can explore topics like nutrition, injury prevention, sports-specific training, or niche markets like pre- and post-natal fitness.
  1. Offer Tailored and Effective Training Programs:
  • The fitness needs and goals of clients are diverse and individualized.
  • Continuous learning equips you with diverse tools and techniques to create personalized training programs that deliver optimal results.
  1. Provide Up-to-Date Advice:
  • As a trusted fitness authority, clients look to you for advice on exercise, nutrition, and healthy lifestyle choices.
  • Ongoing education keeps you informed about the latest research and best practices, allowing you to provide accurate and up-to-date information.
  1. Build Trust and Credibility:
  • Continuous learning demonstrates your commitment to excellence and professionalism, earning the trust of your clients.
  • Clients are more likely to trust a trainer who invests in their own development and stays informed about industry advancements.
  1. Network and Connect with Peers:
  • Engaging in continuous learning often involves attending workshops, conferences, and webinars where you can connect with other fitness professionals.
  • Networking with peers provides valuable insights, ideas, and collaboration opportunities.
  1. Increase Client Retention and Referrals:
  • Satisfied clients are more likely to remain loyal and refer others to your services.
  • Implementing cutting-edge techniques gained from continuous learning can lead to improved client results, boosting retention rates and referrals.
  1. Boost Your Personal Motivation:
  • Continuous learning keeps your passion for fitness alive and fuels your personal growth as a trainer.
  • Staying curious and updated can prevent burnout and keep you excited about helping clients achieve their fitness goals.
  1. Meet Continuing Education Requirements:
  • Some fitness certifications require trainers to complete continuing education credits to maintain their credentials.
  • Ongoing learning ensures you meet these requirements, keeping your certifications valid and relevant.
  1. Enhance Business Growth:
  • By investing in your professional development, you invest in the growth of your business.
  • As you become a more knowledgeable and skilled trainer, your reputation will grow, attracting more clients and opportunities.
Key Benefits of Continuous Learning Description
Stay Current with Fitness Trends – Fitness trends are constantly evolving, and clients often seek trainers who incorporate the latest methods into their programs.
Expand Your Knowledge Base – Continuous learning expands your knowledge beyond basic certifications, enabling you to specialize in various fitness areas.
Offer Tailored and Effective Training Programs – The fitness needs and goals of clients are diverse and individualized.
Provide Up-to-Date Advice – As a trusted fitness authority, clients look to you for advice on exercise, nutrition, and healthy lifestyle choices.
Build Trust and Credibility – Continuous learning demonstrates your commitment to excellence and professionalism, earning the trust of your clients.
Network and Connect with Peers – Engaging in continuous learning often involves attending workshops, conferences, and webinars where you can connect with other fitness professionals.
Increase Client Retention and Referrals – Satisfied clients are more likely to remain loyal and refer others to your services.
Boost Your Personal Motivation – Continuous learning keeps your passion for fitness alive and fuels your personal growth as a trainer.
Meet Continuing Education Requirements – Some fitness certifications require trainers to complete continuing education credits to maintain their credentials.
Enhance Business Growth – By investing in your professional development, you invest in the growth of your business.

In conclusion, continuous learning is not just an option but a necessity for personal trainers who aspire to excel in their careers. Embracing lifelong learning will empower you to adapt to the ever-changing fitness landscape, offer exceptional service to your clients, and solidify your position as a trusted fitness professional.

Summing It All Up: How to Start a Personal Training Business

Personal Training Business

Starting a personal training business isn’t easy. You have a lot of competition out there. It’s not just about your knowledge of fitness; it’s about your business acumen.

Fortunately, business acumen can be learned. It’s not some innate ability that only a select few have. The key to standing out from your competition is knowing how to run your business the right way. Follow the tips in this article, and you’ll hit the ground running.

Frequently Asked Questions

Why is getting certified important for a personal trainer?

Being certified demonstrates your knowledge and qualifications to clients, instilling confidence in your services. It is also necessary for legally taking on clients and avoiding potential legal issues.

How can understanding clients’ needs benefit a personal training business?

Understanding clients’ needs allows you to tailor training programs, provide personalized support and achieve better results. Building a deeper connection with clients enhances their overall experience.

Why should a personal trainer consider specialization?

Specialization allows personal trainers to become experts in a niche, attracting clients seeking specialized services and standing out from competitors.

Is it necessary for personal trainers to have insurance?

Yes, getting insured protects personal trainers from potential lawsuits and financial risks in case of accidents or injuries during training sessions.

How can online marketing benefit a personal training business?

Online marketing helps attract clients and grow the business by establishing credibility, engaging with the audience, and increasing visibility.

What are some tips for effective online marketing for personal trainers?

Personal trainers can enhance online marketing efforts by focusing on high-quality content, using social media to interact with followers, and ensuring a consistent online presence.

How can personal trainers benefit from marketing services with a built-in client base?

Marketing services with a built-in client base help personal trainers reach a broader audience, attract more clients, and save time on marketing efforts.

What skills are essential for a personal training business to succeed?

Personal trainers need fitness knowledge, effective marketing skills, understanding of client needs, excellent customer service, and a commitment to continuous improvement for business success.

Trainer Photo via Shutterstock


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How I Built My First Website: The Homepage

How I Built My First Website: The Homepage

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In 2022, I rode a bike from Canada to Mexico. It was the greatest adventure of my life and I learned so much along the way – like how to pitch a tent in the pouring rain and how not to get eaten by bears… lots, and lots of bears.

person creating their first website's home page

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The 15 Best Business Books for Kids

The 15 Best Business Books for Kids

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If you buy something through our links, we may earn money from our affiliate partners. Learn more.

Whether it inspires them to start their own lemonade stands or to dream of making a million dollars in their futures, it’s rarely a bad time to start teaching kids about business. When they are taught money lessons, children learn not only how to manage their own money, but also the most efficient strategies for making money and how to nurture a solid business idea.

What are the best ways to teach kids about business and motivate their entrepreneurial spirits? How about business books for kids?

Why Books Are Great to Teach Kids Business

Books that teach kids about business are perfect for kid and teen entrepreneurs, as well as children who want to learn money management and business basics. In fact, business books can benefit young minds in the following ways:

  • Improve financial literacy – If you’re looking for books that will teach your child to manage money, there are more than a few books for kids that teach financial literacy, including everything from saving money in a piggy bank to understanding cool financial technology from a young age.
  • Learn business basics – If your child dreams of someday starting a successful business, then it’s never too early to start teaching them basic business principles with books. To have the best chance of someday running their own businesses, kids should learn things like how to develop negotiating skills and how to raise money for start-up costs.
  • Inspire small business ideas – Some books are filled with all sorts of creative ideas for businesses you can start with your kids, including not only family business ideas but also some that kids can pursue as solo efforts.
  • Understand hard work’s value – The long-term value of hard work can be a difficult concept for young children to grasp. Some business books are great tools for teaching children this valuable lesson through creative storytelling.
  • Inspire to dream – Do you want your child to feel the freedom to dream of a successful future? Plenty of business books for kids employ the power of storytelling to inspire kids to nurture their entrepreneurial spirit and follow their own dreams.
Aspect Benefits of Business Books for Kids
Improve Financial Literacy Teach money management and financial technology
Learn Business Basics Develop negotiating skills and raise money for start-ups
Inspire Small Business Ideas Explore creative business ideas for family or solo efforts
Understand Hard Work’s Value Learn the importance of hard work through storytelling
Inspire to Dream Nurture entrepreneurial spirit and encourage dreaming

business books for kids

Criteria for Selecting the Top Business Books for Kids

Selecting the best business books for kids is a unique challenge that involves balancing educational content with age-appropriate engagement. Here’s our methodology and the criteria we use, rated on a scale of 1 to 5, with 5 being the most crucial:

  1. Educational Value (5/5):
    • Accuracy and relevance of business concepts
    • Age-appropriate introduction to business principles
    • Incorporation of real-world examples or case studies
  2. Engagement and Readability (5/5):
    • Use of compelling storytelling or characters
    • Clarity and simplicity of language
    • Interactive elements (pictures, activities, etc.)
  3. Diversity and Inclusivity (4/5):
    • Representation of diverse characters and entrepreneurs
    • Inclusive language and scenarios
    • Sensitivity to different cultural backgrounds
  4. Creativity and Inspiration (4/5):
    • Ability to inspire entrepreneurial thinking
    • Encouragement of problem-solving and creativity
    • Promotion of critical thinking and curiosity
  5. Illustration Quality (3/5):
    • Visual appeal and quality of illustrations
    • Relevance and clarity of visual aids
    • Contribution of images to the overall understanding
  6. Resourcefulness (4/5):
    • Availability of additional resources or activities
    • Guiding questions or discussions points for parents/teachers
    • Supplementary online content or interactive apps
  7. Author Expertise (4/5):
    • Author’s background and experience in business
    • Accuracy and up-to-date information
    • Endorsements by educational or business professionals
  8. Durability and Design (3/5):
    • Physical quality of the book (binding, paper, etc.)
    • Appeal of book design and layout
    • Suitability for repeated use and reading

By carefully weighing each of these aspects, we aim to provide recommendations that not only educate but also inspire and engage young minds in the world of business.

Best Business Books for Preschool-aged Kids

It’s never too early to start teaching young kids about business. In fact, you can start teaching your children before they even learn to read with books targeting children their own age.

Interested in business books for preschool-aged kid entrepreneurs? The following choices are a great start:

1. When I’m an Entrepreneur

When I'm an Entrepreneur

by Dr. Samantha Pillay (Author), Harry Aveira (Illustrator)+

Did you know that career gender stereotypes start to form during early childhood? So does self-efficacy. When I’m an Entrepreneur: Dreaming is Believing: Business features simple images that allow children to think about their own entrepreneurial spirit while building their self-belief. The unique picture book encourages children to dream big, and it includes a companion activity book to stimulate your child’s imagination.

After you’ve finished reading this totally awesome business book with your child, you can investigate the newspaper articles that appear in the book on the author’s website for extra educational value. While there, you even can explore even more fun facts about the image details.

2. What Do Grownups Do All Day?

What Do Grown-ups Do All Day

by Virginie Morgand

Does your child wonder what you do at work all day? What about a firefighter, police officer or postal worker? What Do Grownups Do All Day? teaches children about these and more than 100 other jobs through 15 busy scenes set in diverse workplaces. Just turn the page to discover what each job entails!

Not only is this book packed with detailed scenes and information, but the visuals are sure to attract every young entrepreneur’s attention with hand-drawn shapes and bright colors that create vibrant images full of life and energy.

3. The Berenstain Bears’ Dollars and Sense

The Berenstain Bears' Dollars and Sense

by Stan & Jan Berenstain

Parents love it when classic characters from beloved tales also can teach their children important life lessons. In The Berenstain Bears’ Dollars and Sense, Papa Bear thinks it’s time to teach Brother and Sister how to budget their money. Will the cubs learn the value of a dollar, or will their pockets remain empty?

In this engaging story for young children, Mama Bear devises a clever way to teach her cubs about money… in the form of a checkbook. Your children can learn right alongside Brother and Sister Bear as they learn money management through household activities.

4. It Began with Lemonade

It Began with Lemonade

by Gideon Sterer (Author), Lian Cho (Illustrator)

What can come from a simple lemonade stand? It Began with Lemonade tells the story of a spunky young girl who decides to set up a lemonade stand on a scorching hot day. Unfortunately, she soon discovers that too many entrepreneurs in her neighborhood had the same idea. Not to be deterred, the girl relocates her lemonade stand to the river’s edge, where she encounters some unexpected clientele.

Children, parents and critics love this easy-to-read book for preschools, who will cheer as the heroine satisfies customer after customer, including octopus babies, otters in hats, beavers doing the backstroke, dancing bunnies, clacking crabs and more. Steamboats, tugboats, and submarines line up for miles down the river, and the child stays open as long as she can, before treading home to dream of her next day’s business.

5. Baby’s First Business Book

Baby's First Business Book

by Andrew Dorazio (Author), Victoria Savanella (Illustrator)

A fun and exciting book for children of all ages, Baby’s First Business Book helps inspire young children who might want to start a business someday. Featuring the ABCs of important business terms, this book will prepare preschoolers for future business endeavors by inspiring courage and establishing a solid foundation for the future.

This business book for kids was not only written to inspire young entrepreneurs but also inspired by one of them. The author, an entrepreneur himself, was inspired to write the book by the birth of his own daughter.

Books to Teach School-aged Kids About Business

While there are a plethora of business books for preschool kids and teen entrepreneurs, there are even more business books for school-aged children. From storybooks to instruction manuals and everything in between, you’ll find business books for school-aged kids that cover any topic, including:

6. Lunch Money

Lunch Money

by Andrew Clements (Author), Brian Selznick (Illustrator)

Lunch Money takes a look at the obstacles entrepreneurs encounter, including finding a market, hurdling regulations and dealing with money’s influence. With illustrations from Brian Selznick, the book is a great way to capture kids’ attention while they learn about business.

Any little entrepreneur will be inspired to look for business opportunities as they follow the adventures of Greg, who discovers that almost every kid has at least a quarter left over from lunch.

When you read this business book with your kids, you’ll see their eyes light up as they eagerly wait to see what else Greg discovers. Whether you’ve got a little entrepreneur on your hands, or you’d like to inspire a little entrepreneurial thinking, this book will help.

7. Ethan’s BIG Business Plan

Ethan's BIG Business Plan

by Yu-Ting Hung and Ethan Hsu

The biggest lesson found in Ethan’s BIG Business Plan is controlling your destiny, followed by lessons in spotting opportunities, selling products and managing money. With the lessons from this book, your little one can apply its real-world concepts to their first business and continue to grow with each experience.

The next time your kid throws a tantrum at the supermarket because you said “No!” — grab this book! This business book teaches kids to make their own plans in order to reach their spending goals. It’s a fun, well-structured way to help kids think through finances and the strategies to make it all work.

8. What Do You Do With an Idea?

What Do You Do With an Idea

by Kobi Yamada

The author of What Do You Do With an Idea? recognizes that ideas are living things. If nurtured and fostered, they can grow into something much bigger. The language and illustrations in this book will touch your heart so much that you’ll read it for yourself as much as your kids.

Every great business starts with an idea, but ideas can be fragile. Ignore them and they die; share them with the wrong people, and you can be convinced to quit. Every budding entrepreneur will love this story about a child, his anthropomorphized idea, and how he brings it into the world.

This award-winning New York Times national bestselling book is full of life lessons, including perseverance and confidence in both yourself and your ideas, even if no one else believes.

9. Kid Start-Up

Kid Start-Up, How YOU Can Become an Entrepreneur

by Mark Cuban, Shaan Patel and Ian McCue

When kids read Kid Start-Up: How YOU Can Become an Entrepreneur, they’ll learn how to spot opportunities, calculate demand and do the work to launch their businesses.  While the business book includes the obvious “lemonade stand,” it also explores starting online businesses like an Etsy store. If you read this book with your kids, you just might discover your next family business.

Celebrity “shark” Mark Cuban is well known for being a dad, so it only makes sense that he would partner up to write a kidpreneur book. Written for elementary school-age kids, this book teaches valuable lessons such as hard work, perseverance and collaboration.

10. Starting Your Own Business

Starting Your Own Business, Become an Entrepreneur

by Adam Toren, Matthew Toren

Completing projects step by step is a great way for a child to learn about the business world, as each project is an opportunity to further explore their ideas. Starting Your Own Business: Become an Entrepreneur! features engaging icons, eye-catching images and even spaces for the reader to write answers to open-ended questions. The book concludes with words of encouragement and a helpful glossary.

Part of the “Dummies” series of books written by brothers Matthew and Adam Torren, this business book is ideal for the budding kid entrepreneur who has an idea and needs practical steps to transform it into a business. This informative book covers topics like the basics of entrepreneurial success, how to find your big idea, how to make a plan (and what to do with it once you’ve created it), budgets, marketing, product or service delivery and customer service.

Top Business Books for Teen Budding Entrepreneurs

Is the special teenager in your life interested in business, or do they have a brilliant business idea that you want to help them bring to fruition? Business books are a perfect way to help teen entrepreneurs explore their dreams. Looking for the ideal business book to inspire your teenage child? Take a look at the following masterpieces:

11. Become the Youngest Businessperson in Town

Become the Youngest Businessperson in Town

by Thomas Henderson

If the teen in your life dreams of starting their own business someday, there’s no time like the present. In Become the Youngest Businessperson in Town: 111 Teen Business Ideas, the author presents all sorts of business ideas for teens, including simple $100 plans to grand personal projects.

Have a teen without a business idea who still would like to watch money grow? This book provides them with plenty of useful ideas and inspiration, as well. Not only does it offer plenty of feasible ideas for any budget, but it also offers plenty of direction tips for finding success with those business ventures.

12. Teen Entrepreneurship

Teen Entrepreneurship

by Jack Rosenthal

This book for any teenage kid entrepreneur was written by the author of Teen Investing, Amazon’s No. 2 book on teen investing. In his young entrepreneur’s guide, Rosenthal educates fellow teens on everything it takes to become a successful young entrepreneur.

Teen Entrepreneurship: The #1 Book for Teenage Entrepreneurs is remarkable because it not only was written for teen entrepreneurs but it was written by one, as well. Rosenthal was a 19-year-old student in Massachusetts when the book was published, but he already had been an entrepreneur and investor for 10 years, working on numerous ventures.

13. The Money Club

The Money Club

by Jasmine Brown

Has your teen ever agonized over math, wondering when they will use it in the real world? If you don’t have the answers, perhaps a professional educator might. Written by a passionate teacher, Money Club: A Teenage Guide to Financial Literacy covers even the most daunting topics with entertaining stories and real-life inspired classroom scenarios.

This user-friendly guide offers practical advice and open conversation on aspects of money management, including topics such as bank accounts, budgeting, credit cards and managing money after high school.

14. First to a Million

First to a Million

by Dan Sheeks

If your teen never fulfilled their childhood dream of becoming a lemonade stand millionaire, then First to a Million could be the perfect book for them. Written for young adults, this is a fun guide packed with the many advantages of financial independence, and it includes the secrets of investing, living frugally and maintaining an entrepreneurial mindset.

When teens treat their finances differently than most of their peers, the perspective will put them miles ahead of their peers on their journeys toward financial independence. It doesn’t matter if they didn’t start out as the richest kids on the block, they have time to let that compounding interest transform their futures.

15. 10 Steps to Your First Small Business

10 Steps to Your First Small Business

by Adam Lean

If you want to help your teen start their own business, then there’s no better business book than this step-by-step guide that covers everything needed to start a business from start to finish. After completing each of the steps described in 10 Steps to Your First Small Business (For Teens), teen entrepreneurs will have successfully launched their businesses.

The plan described in this book makes starting a business fun, approachable and realistic for teens. The text explains how to come up with a good business idea, as well as how to start a business with little or no money. It even includes 50 small business ideas that teens can start.

More Sources of Business Ideas for Kids

If the special young business person in your life has read all the business books on this list or is looking for additional resources, we have more suggestions.  After all, there’s more advice available than the kind found in books.  Check out the following free resources for budding entrepreneurs and anyone looking for business ideas for kids:

  • Kidpreneur Magazine — This digital magazine for young entrepreneurs features articles with advice and guidance for children and high school students — and their parents. From preparing children for entrepreneurship to encouraging their ideas, parents and kids will find practical help and inspiration in Kidpreneur Magazine.
  • Business Ideas for Teens – Ready to jump right into starting a business? Or, perhaps you want to research business startup concepts along with reading a good business book or two. Business Ideas for Teens offers plenty of ideas so that high school students can easily start a business at home. The suggestions don’t require much money, and none are very complex.
  • Book Apps for Kids – Plenty of kids in 2023 prefer to consume content electrically via their tablets, smartphones and computers, as opposed to physical books. Fortunately, they can take advantage of any of the best book apps for kids of any age range, available for Apple, Android, Microsoft and other devices. Some apps, such as Epic, feature thousands of titles written for young readers, including business books for kids in digital form.
  • National Lemonade Day – Did you know there’s a holiday just for encouraging young entrepreneurs?  National Lemonade Day occurs annually on the first Sunday of May. The event is a great way to show community support while showing children the value of entrepreneurship.
  • Startup Savings Tools – Any young person will be more committed to success if he or she has skin in the game.  Teach young people how to forgo spending their allowance on discretionary items, and instead save it up to start a business.  See our savings calculator to get started.

What is the best business book for younger kids?

The best business book for younger kids largely depends on your objective for introducing the book. If you are in search of a business-related storybook for younger children, then you might choose a title like the Berenstain Bears’ Dollars and Sense. However, if you want your child to read a business book that serves as a guide to starting a business, then an informational text like Kid Startup could be a perfect choice.

What is the best business book for teens?

Ask a dozen teens what is the best business book for them, and you might get 12 different answers. That’s because the best business book for a teenage reader depends entirely on the young adult’s tastes and goals.

Those looking for a collection of big ideas for businesses definitely should check out Become the Youngest Businessperson in Town. However, if the teen reader wants to become educated on entrepreneurship, they won’t want to miss reading Teen Entrepreneurship.

What are the best entrepreneur books for kids?

There are plenty of great books to inspire kids interested in entrepreneurship, as well as for parents who want to encourage an entrepreneurial spirit in their children’s minds. When I’m an Entrepreneur teaches young readers how to dream and strive toward a business career. Likewise, What Do You Do With an Idea? uses storytelling to illustrate how great ideas can become a successful business.

How can you get kids excited about their own business?

Kids start developing lifelong passions at an early age. While the ways to get kids excited about starting their own businesses are practically limitless, business books written especially for kids of any age range – in words that kids understand – have proven to be a highly effective strategy.

Whether kids are learning money ninja life hacks to enhance their financial literacy, they are understanding how to open a business bank account, or they are discovering why it’s important to retain customers, there is a children’s book available to present the concepts.

Conclusion

Books that teach kids about business offer invaluable benefits to young minds. They serve as powerful tools to improve financial literacy, impart essential business principles, and inspire creativity and innovation. By exploring the world of entrepreneurship through storytelling and practical advice, these books not only teach children about money and business but also instill valuable life skills such as hard work, determination, and the freedom to dream. As parents and educators, introducing kids to these business books early on can plant the seeds of curiosity and ambition, empowering them to become the confident and capable entrepreneurs of tomorrow.

Get discounts and special offers on new and classic business books with an Audible Premium Plus membership. Learn more and sign up for an account today.

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20 Mesmerizing Parallax Website Design Examples We Love

20 Mesmerizing Parallax Website Design Examples We Love

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In the ever-evolving world of web design, one concept has emerged as a game-changer: parallax scrolling. This dynamic technique has redefined how we navigate and interact with websites, taking user engagement to new heights. But what exactly is parallax scrolling, and why is it essential to shine a spotlight on diverse and innovative websites?

person scrolls through parallax website examples

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The Standard Deduction 2022: Everything You Need to Know

The Standard Deduction 2022: Everything You Need to Know

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Knowing what you can deduct from your income and how that affects your taxes this year has never been more important. To help make understanding all of these different tax deductions easier for you, we’re here today with a complete guide about the ins and outs of the standard deduction 2022.

Dive deeper into this guide to gain essential knowledge about the standard deduction that can help maximize refunds or minimize tax payments. This could be the key to an improved financial plan during the tax season, so let’s embark on this informative journey!

What is the Standard Deduction 2022?

In tax terms, the standard deduction is a pre-set amount that taxpayers who choose not to itemize deductions can subtract from their total gross income. This deduction directly affects the amount of income that will be considered for taxation, lowering the overall tax liability and potentially increasing your tax refund.

Let’s take a look at a table of the federal income tax system tax year 2022 standard deduction, which has a deadline of April 18, 2023.

Filing Status 2022 Standard Deduction
Single or Married Filing Separately 12950
Married Filing Jointly or Qualifying Widow(er) 25900
Head of Household 19400
At least 65 years old or blind Additional $1,400
At least 65 years old or blind (single or head of household) Additional $1,750
At least 65 years old and blind Additional deduction amount doubled

standard deduction help

How Does the Standard Deduction Work?

The standard deduction simplifies the tax filing process by offering a straightforward way to reduce taxable income. Let’s explore the specifics of how this deduction works, its impact and the situations where it’s most beneficial.

Basics of the Standard Deduction

Essentially, the standard deduction operates as a subtractive mechanism to lower the taxable income for individuals and families. The concept is straightforward: it reduces your gross income, thereby decreasing the amount of income subject to taxation. The functionality of this deduction is primarily reflected in the taxpayer’s 1040 form, a key document for declaring income and taxes. This form includes a line item where the standard deduction is applied, simplifying the tax computation process for most taxpayers.

Impact on Taxable Income

Once applied, this deduction results in a reduced total tax due, primarily because the adjusted taxable income (post deduction) serves as the basis for tax computation. By lowering your taxable income, the standard deduction effectively lowers your tax bracket in some cases, which could result in substantial tax savings. This is particularly beneficial for those who have fewer deductions or credits to claim.

Advantages of Choosing the Standard Deduction

The convenience of the standard deduction lies in its simplicity – the deducted amount doesn’t require itemization or documentation. It’s a flat amount applied across the board for all filers who opt to claim it. This eliminates the need for taxpayers to keep detailed records of deductible expenses, making tax filing more straightforward and less time-consuming.

When to Opt for the Standard Deduction

Typically, taxpayers find it beneficial to claim the standard deduction when their individual deductions fall short of the standard deduction threshold. In such scenarios, the standard deduction would lead to a decrease in overall taxes owed. It’s an especially appealing option for those with straightforward financial situations, such as renters without substantial medical expenses or charitable contributions, who would otherwise not have enough itemized deductions to surpass the standard deduction amount.

The standard deduction emerges as a valuable tool for those seeking to diminish their taxable income, thereby retaining a larger portion of their earnings. To provide a clear understanding, we have outlined the individuals or groups who are eligible to claim the standard deduction, based on their filing status:

  • Individuals – Single filers, heads of households, married filing jointly couples, taxpayers 65 years or older, and those who are blind may all qualify for the basic standard deduction.
  • Businesses – Sole proprietorships, partnerships, LLCs, S-corporations, C-corporations, and non-profits may be able to take advantage of the standard deduction if they meet certain criteria.
  • Estates & Trusts – Fiduciaries administering the estate or trust may be eligible to claim the deduction on behalf of the estate or trust if some qualifications are met.

Standard Deduction Restrictions

Despite its myriad benefits, such as the capacity to lower taxable income and subsequently taxes due, there are restrictions on who can claim the standard deduction. To be considered eligible, taxpayers need to satisfy certain criteria which we have outlined below:

  • Income Limitations – Taxpayers must meet certain income thresholds in order to qualify for the deduction. So people in higher income tax brackets may need to speak with a tax advisor or accountant to determine if they would be better off itemizing their deductions.
  • Dual Status Filers – Couples who are married filing separately, when a spouse itemizes deductions, and those with both U.S. citizen and non-citizen spouse status may be restricted from claiming the deduction. This is due to certain complexities that can arise when filing a dual-status tax return.
  • Dependents – Dependents are not allowed to claim the standard deduction and must itemize their deductions to lower taxable income. This is because the higher rate of taxation on dependents often results in them having to itemize their deductions rather than claim the standard deduction.
  • Itemizers vs. Non-itemizers – Taxpayers that choose to itemize their deductions instead of taking the standard deduction will not be eligible for the deduction in most cases.
  • Nondeductible expenses – Medical, dental, and certain other expenses are generally not deductible when taking the standard deduction.
  • Annual accounting period change – If a person files a federal income tax return that’s for a timeframe of fewer than 12 months because of a change in their annual accounting period, then they cannot claim a standard deduction.

standard deduction tax coins

How to Claim the Standard Deduction and Lower Your Tax Bill

Embracing the standard deduction could be a savvy move to diminish your taxable income and lessen the amount of taxes you owe. Opting for the standard deduction streamlines your tax filing process and can substantially reduce your tax burden, particularly if you don’t have significant itemized deductions.

To help you with the process, we have created this systematic guide on how to claim the standard deduction:

Step 1: Gather Your Tax Documents

Begin the process of applying for the standard deduction by assembling all pertinent tax documents. These might include your W-2, 1099s, and other forms embodying income-related information. It’s crucial to have these documents organized and ready to ensure an accurate and efficient filing process.

Step 2: Calculate Your Income

Upon collecting the necessary documents, you must aggregate your gross income. Your total income, before implementing any deductions, is what this represents. Understanding your gross income is essential as it determines your eligibility for certain deductions and credits.

Step 3: Calculate Your Deduction Amount

For the standard deduction, you’ll need to compare two amounts: the standard deduction and the sum of all itemized deductions. If the standard deduction is superior, it would be wise to claim it, especially if you don’t have substantial itemized deductions like mortgage interest or large charitable donations.

Step 4: File Your Tax Return

With the deduction decision made, you can now proceed to file your tax return. Remember to include all relevant forms and documents when filing. It’s important to be meticulous in this step to avoid errors that could lead to delays or audits.

If you’re self-employed, make sure you know how to file self-employment taxes and research the best tax software for self-employed to fit your specific business needs. This is particularly vital as self-employed individuals may have unique deductions and tax considerations.

Step 5: Lower Your Tax Liability

Ultimately, the standard deduction reduces your tax liability by lowering your taxable income. This translates to a lighter tax burden, enabling you to retain more of your earnings. It’s a strategic way to manage your finances effectively, ensuring that you maximize your income retention while staying compliant with tax regulations.

calculate standard deduction

Standard Tax Deduction Vs Itemized Deductions

Both the standard deduction and itemized deductions aim to reduce taxpayers’ taxable income, thereby decreasing the taxes they owe. The unifying feature between the two is their function of permitting deductions from gross income.

The fundamental distinction between them lies in their calculation methods. The standard deduction offers a flat deduction amount, while itemized deductions rely on actual expenses, necessitating proof through receipts and other documentation.

Taxpayers must opt for either of the two. If a taxpayer chooses to itemize, they forego the standard deduction and vice versa. The determination of which deduction option brings greater savings is subjective and hinges on an individual’s overall tax landscape and financial circumstances.

The Standard Deduction 2023

Forward-thinking taxpayers will begin preparing for their 2023 returns now, even while still in the process of filing their 2022 return. As a head start, here are the 2023 standard deduction amounts for those seeking to leverage this tax relief strategy early:

Filing Status 2022 Standard Deduction
Single or Married Filing Separately $13,850
Married Filing Jointly or Qualifying Widow(er) $27,700
Head of Household $20,800
At least 65 years old or blind Additional $1,500
At least 65 years old or blind (single or head of household) Additional $1,850
At least 65 years old and blind Additional deduction amount doubled

standard deduction dollars

Standard Deduction: Key Aspects to Remember

It’s important to know exactly how much standard deduction you can claim, as it’s a key part of doing your taxes. With changes introduced for the 2022 tax year, your deduction capacity may vary, underscoring the need for preparedness and awareness.

Understanding the standard deduction can help you optimize your deductions, translating into monetary savings on your tax obligations. If you find yourself grappling with the standard deduction or other related deductions, it could be advantageous to engage the services of a certified tax professional. They can offer comprehensive advice on tax filing protocols and strategies to reduce your tax burden.

Adopting this approach will help you harness the maximum benefits from your tax filing and decrease your overall liability. Additionally, the IRS provides free tax consultation services, offering an accessible resource for any tax-related queries. Their assistance can be instrumental in addressing uncertainties and streamlining your tax filing process.

business man calculating tax

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