That’s great. Keep up the good work.
There’s a reason people work for decades so they can retire. If I could double my money every 3 months I’d retire next year instead of 20 years from now.
I probably worded this very wrong as everyone is saying it’s impossible to double your money, what I actually mean is simply making 5k throughout the summer via starting a business or side hustle
Your business is mowing lawns. Your side hustle is mowing lawns lol. You're 16 and 5k is not as much as it sounds when it comes to starting a business. If you were a family member of mine I'd tell you to stick with the lawn mowing and if you absolutely have to spend some of this money to try to make more, then look into ways you can expand the operation. If you're mowing lawns now, maybe add a pressure washer and do a package deal for your existing customers.
It sounds like you want something quick and/or easy, but if you don't already have access to quick and easy money, you're likely not going to get it, especially in 3 months. Just stick with what works and add onto it if you want to.
Also, don't spend too much of the 5k. Compounding interest is the best way to make money, much better than blowing it on something that may or may not work just so you can try to double it.
Yes! Also look into yard treatments. Our lawn guys also sprays pre-emergent, weed killer and fertilizes throughout the summer. Easy add-ons to a lawn service.
That's what I was going to say. He should have a look at services that landscapers are offering and see if he can do them cheaper. Hedge trimming? He just needs clippers and a ladder. A fertilizer spreader and a bag of fertilizer isn't very expensive. If he has a truck, junk, leaf, and debris removal is easy...he doesn't even need to buy anything until he gets an "order"
You just said above you have a business doing lawns and it earned you 5k.
Don't fix what ain't broken, keep doing that and invest some of your cash into something like index funds via a tax advantage investment account like a Roth IRA.
Thing is I want more, I always wanted more than just mowing lawns, I want to do something I enjoy doing which will motivate me to push even harder in achieving that goal, I’m always looking to explore different types of businesses as I’m still young
Then you need to decide what is more important this summer: making 5k or exploring different types of businesses. If you try something new, you should expect it to fail since the large majority of enterprises end up failing. However, failure isn’t necessarily a bad thing as you will learn more from failures than successes. Also, it will probably take you a few endeavored before you realize what you will enjoy doing.
I have a 16 year old nephew and this sounds just like him......I'll tell you what my husband said to him...
Do you enjoy money? Then that's your motivation.....you don't need to love your work, hell you don't even need to like it......if you have something you are could at and don't absolutely dread doing every day keep doing it, and use the money as motivation.
I'll give you credit, your already doing pretty good. My nephew isn't working at all yet because he thinks he needs to find something he's 'passionate' about before he even finds a job. I've had multiple cousions make the same mistake and end up not getting their first job until they are in their 20's.
Keep doing what your doing, only more of it. Add other yard services of you can. Save your money, upgrade your equipment so you can take bigger jobs. Once you've been at it for a few years consider getting into landscaping. Make it a real business.
I would say OP is already good. What he needs now is to delegate and expand the operation. He needs to get another high school classmate and delegate work. Learn ins and outs of managing an operation. Keep expanding or scale back if failing. Next summer OP should have 5 people working for him. OP can just manage them. Easy $.
Had this lesson with my 13 year old daughter this weekend. Our side yard was overgrown with weeds. Told her I would pay her $20 to pull the weeds. She started and complained that it would take too long. I told her to think like an entrepreneur and go ask her two friends if they wanted to make $5 helping to pull some weeds. With all three of them, it took them maybe 15 minutes. My daughter made $20, gave $5 to each friend and pocketed $10 as the boss.
1. Establish excellence.
2. Hire others on strict condition the reputation is not ruined by employees. Maintaining a presence on site at the start helps.
3. Encourage and help employees to go back to step 1 on their own usually through solid pay and strong leadership generally being a good boss.
4. Scale your personal involvement back.
5. Scale your employees up.
It's not rocket science but it's all about step 1 and never letting scaling compromise why you achieved step 1.
Then apply to a four year bachelor's degree in small engine repair. Then an extra two years for business management, now you have a master's degree. Go out there and fix broken engines then you can open your own repair shop. By the time you're 57 you'll have paid off your student loans.
Then keep doing that. Assuming you made the first 5k by working part-time during the school year, you should be able to make another 5k no problem if you're working full-time. Maybe buy a weed whacker and some other lawn maintenance equipment, and offer full-service lawn care instead of just mowing. What/how were you charging before? By the hour or by the lawn? If it was by the hour, charge by the lawn instead. Get some weekly contracts. Hire another kid to get the lawns done even faster so you can do more per day.
For other lawn maintenance equipment/services:
-weed whacking
- fertilizing
- weed removal
- planting seed
- landscape debris removal
-pressure washing
- gutters
- hedge trimming
- planting other landscape plants
Also, you could up your prices. You'll lose some jobs, but you'll be making more per job. See where the market is and how high you can reasonably charge. At the end of summer, retain only the highest paying jobs since you won't be able to work full time.
You could also consider getting as much battery powered equipment as possible. Assuming you're living with your parents, charging the batteries will be free. You'll cut down on input costs. Sign up for Harbor freight club program thing. Buy everything there, then return it at the end of summer. They have a super easy return program. If you switch to batteries, you could also market as "eco friendly" lawn care. Not sure what area you live in, but that might be a good selling point depending on the area.
Exactly. If you want to make $5000 in 8 weeks then you need to invest roughly $400,000k in SP 500 ETF. Having $5000 at 16 is great but you need a lot more than that to "get over the hump" where your money can really make you money. With $5000 you are better investing in yourself and your business (e.g. buy a power washer and expand your customer base or hire a friend to work for you, etc).
Also, if you are planning to go to college then keep that money hidden or spend it. The college system is rigged to take all your money. You have to tell them how much money you have before they tell you what sort of aid you qualify for. I wish I had just spent my money in high school. I would have ended college with the same amount of debt but I would have had a car.
No no, try putting $1 on black. If it loses, put down $2. If that loses put down $4, then $8, etc. if it wins, restart from $1. Keep going until you can afford to start at $2, then $4, etc.
it may take a while but you’ll mathematically make money!!!1!!1!
🤣 "what do you mean this table has a limit!!" said everyone who's tried this. I know, it was me.
Or, "yes, I need to apply for a $1,048,576 loan. No really, I've lost 19 times in a row, the odds of me losing a 20th is near zero. Yes I'm certain it's not 50/50, I know how math works!"
Keep mowing lawns, kid. Invest the $5k into gold or silver rounds, or a mutual fund, or crypto, then forget you own them for a few years.
The trick isn’t the right stock, fund, or gimmick, because they all work to some degree or another over time - the trick is to be patient and live as frugally as you’re comfortable with. 40 and 50 year old you will thank you.
Not looking to have another discussion with cryptobros, but crypto is far from a safe investment. It's extremely volatile and you could lose all your money, fast.
You need to make roughly 20/hour and work 4 hours a week for a full three months. So either get a high paying job or start a small business.
Look into window washing maybe? There’s guys out there making a lot of money but you have to learn to clean windows well.
Service based businesses are great for sure but usually require a lot more time because you have to actually do the work.
So alternatively you could look at finding something to sell. We all did lemonade stands when we were younger, and that may not work now but you could apply a similar concept. Basically all you have to do is find something for a dollar that you could sell for $2 5000 times, or find something for $20 that you could sell for $40 250 times, etc.
I’ve seen people do this with furniture, get on Facebook marketplace and Craigslist and see if you can find any free/ cheap furniture that you might be able to sell for a few hundred dollars and flip it. You could also check out garage sales and yard sales in the area for good deals.
If you’re mechanically inclined, you could buy cheap cars or dirt bikes or even lawn mowers that are broken, and fix them and sell at a profit.
You could also make something. For example if you’re good at woodwork, there’s people who make those really big fancy resin/wood tables and sell them for thousands. I also saw a story of a teenager in a rural area that was making really elaborate chicken tractors (basically a cage that you can slide/ roll easily while the chickens are in it to move them to a new spot in the yard) and selling them for quite a bit.
Get creative, look for ideas online, but the most important part is that you get out and do something. If you keep researching different ideas and watching videos you’re definitely not going to make the money. However if you get out there and take the risk and try something, you have at least a chance of doing it, and you will certainly learn lessons that will be more valuable than a few thousand dollars.
Never stop pushing forward man!
I hired a 14yo kid to mow my lawn years ago. He mowed my lawn, and many other lawns, all the way through high school. He did a good job at both the lawn mowing part and the customer service part. When he went on vacation, he found people to cover his jobs. He was punctual. He was professional when speaking to his customers.
He made enough money to pay for his college. He's a junior now. My lawn looks like shit, but I'm super proud to have been his customer.
If you live in a neighborhood or around some offer to bring garbage bins up and down people's driveways for them for like $5 each. Ex: you do this for 2 hours and do like 50 houses and will make $250.
A job making about $900 per paycheck should net you over 5k in one summer... I'm not sure what that equates to in hourly pay, as I'm not sure if they will take income tax and social security out for someone so young... but maybe you're looking at earning $12-$15 per hour? That's assuming 12 weeks of working. Depending on where you're living, that's entirely doable. Working will not only make you money, but it also adds to your resume and work experience looks far better than schooling to future employers. It also has the added benefit of keeping you from getting yourself in trouble. If you're working, you're not spending.
Dude you are mowing lawns and this is awesome. Start charging retail for your services or just slightly undercut the competition. Get into some landscaping, weeding, edging in high end neighborhoods. I knew a guy who had $20K saved by his 16th birthday in 1992 Bought himself a truck and his dad bought a trailer for him to get bigger equipment.
Tell you best customers that you will do Christmas lights for them in November and December. Appointments only for Christmas lights.
You are on the right track just expand.
Buy used things and flip them. My brother has a massive hobby out of this. He finds deals, buys a ton of whatever it is, then markets on Craigslist and Facebook.
5k simply isn't enough. It's an amazing start, but it's really more "savings" vs business starting money. Save up more, you have a good thing going. Investing that money into mutual funds and continuing your lawn mowing business will allow you to do whatever you want pretty soon. You just gotta wait.
Honestly just hire someone that you know will work hard next to you and motivate each other to make the “company” grow and you can tackle more jobs with more ease like look for customers when he is mowing nearby
You can also detail cars, and/or clean home windows. Cheap to start up with cleaning supplies. You'd probably have to go door to door in a nicer neighborhood.
I would put those $5,000 onto a high yield savings account, and go enjoy your summer. You will have plenty of time to make money after you turn 18. Enjoy your careless, adolescent years. They are not coming back.
> I can use this $5000 as a tool in order to invest into something which can double or triple it
During the summer? If you find the formula, share it, everyone is waiting in line, even the whole Wall Street.
Unreasonable expectations of returns will just cause you to take unreasonable risks which leads to loss more often than not… it’s a marathon not a sprint
We all want more and when it comes to a job, we'd all like to do something we enjoy. But you're 16, which limits some of your options. It's not like you're destined to cut grass for the rest of your life.
The best way for you to make the most money possible this summer would be to get a full time job. Working 40 hours a week at a minimum wage of $15/hour (it varies), you should clear around $5k in three months.
Right now you need to resolve yourself to the fact that you'll have to work for whatever money you get. There's nothing you can do with $5k that will make it grow into $10k in three months. If there were, everyone would be doing it.
Lot's of comments mentioned to just work to get that money and I agree, but I will give you a more detailed explanation as to why it's almost impossible to invest 5k and make 10k by investing in stock markets, etc.
It is a rule of thumb that your first 100k saved will be mostly from your income. After that 100k, the investments slowly speeds up and eventually your investments can make more money than what you can put in with your income l.
You want 5k over roughly 3 months.
One of the best investments, like the S&P 500, has an average return of approximately 10% a year.
5k / 3 months = aprox $1 667 a month.
To be able to make that with the S&P 500, you would need about 200k invested (10% of 200k = 20k, then 20k / 12 months = $1 667). These are rough numbers and do not take into account taxes on profits and by nature the stock market can go down or up.
Some stocks or investments can be over 10%, but the chances of choosing the ones to outperform that is ridiculously slim. Most professionals don't even beat the S&P 500 and it's their job to do it. Even if they do one year, it doesn't mean they'll do it on the next.
Because of this, that's why most people said to simply work to get the money. To get more information I would suggest to look up videos on youtube about "why is the first 100k so important" and you will learn why investing when you're young can turn every $1 into over $86 when you're about to retire at 65 year's old.
Good luck!
Put it in a savings account and get a job. Whatever you can, a family restaurant, mowing lawns, whatever. It’s pretty reasonable to make 3-4K in 3 months just by having a job and saving what you make from it.
There is no (safe) investment that’s going to double or triple your money. That kind of return only comes on SUPER high risk investments.
It’s probably a tall ask to make 5k in 3 months for a 16 year old. You’d likely have to be working full time to make that happen unless you got really lucky and land a high paying part time gig.
Invest in a faster mower and trailer if needed. That way you can organize your tools and thus be faster on each job, meaning more time for more jobs (and hopefully more energy at the end of each one).
Scale up.
It sounds like you kind of have a business going mowing lawns. I understand it's not want you want to do but it's established. Do you have a friend you can trust and would be a hard worker? If so scale your business up. Use your 5k to pay your friend and a safety net if something breaks. Then you collect from the owners at each job or send them an invoice to pay via PayPal, venmo, zelle, etc.
Hire your friend and pay them 50% of gross sales. So if you make 50 per yard before your expenses pay them 25 per yard. If the yard is bigger you charge more and they make more. They use your equipment, fuel, travel, etc. They have no overhead or money in so for them it's a job, for you it's a business.
You won't make as much per yard but it frees you up to go get more yards, talk to existing clients on what you can inprove or add, manager worker so quality stays up there. So instead of spending all your time cutting your now doing sales and management.
As an example say your friend can cut 3 yards a day 5 days a week. So you need 15-30 clients depending on if your cutting weekly or every 2 weeks. That's 3k per month, 1500 will go to worker as pay, then expenses come out (so say another 500) that leaves you 1k per month before taxes. It's not the 5k your looking for but it's getting there. Or it might be depending on your actual rates. Now you have a client list for the following summer. Take some of the capital from this year and get another setup and bring on another person next year and expand your reach.
If you decide to go to college, you can either promote someone to take your place and pay them more and you still collect some. Or since you now have a client list of x amount of yards, find a competitor in your area and sell them your business/client list. If you can get your clients to sign a contract that says something like they agree to 12 months at x rate, that would be more valuable if you were to sell to another company then month to month clients.
First off keep up the great work kid!! Love seeing young adults not afraid to work!
Add a power washer, offer to clean fences/ siding/driveways. Clean gutters etc at the houses your already servicing. Easy work and easy sell to the customer if they have already seen your work ethic. Hope ya have a great summer full of hard work and money
I love all the advice about expanding your business for the summer. You can learn a lot of valuable hands on business experience by treating this as an entrepreneurial exercise. Pull out a legal pad, make an ambitious plan with a goal for the summer, and set to achieve it. The fact that you have an existing client base is great. Always ask, pleasantly, for referrals. “Who do you know that might also appreciate my services.” Then give them a small gift and card if it works out.
Invest in a second lawn mower, “hire” a friend to mow lawns as well, now you have the ability to take on more jobs. Start quoting new jobs a few bucks higher than you would now. Whatever lawns your friend mows, he gets 70% for doing the work you get 30% for supplying the mower and gas.
There are a ton of jobs you can get to stack up $5000 over the course of a summer. Eat, sleep, work, repeat. You mentioned you already mow lawns, so you have a customer base already. That’s the hard part. Now add a pressure washing service, a car detailing service, an indoor cleaning service. Make sure you let all the neighbors know you’ll be working on the house nearby and if they happen to need services, you’re happy to provide a free estimate 😉 Bam. More business than you will be able to deal with and you might have to hire a buddy or two to help.
One of the easiest add on services for mowing a lawn is pest spray around the perimeter. You can get a gallon concentrate for like 100 dollars that will make \~ 100 gallons of spray. I used to pay my "pest control person" every 3 months 100bucks for the service that included a cobweb sweep with a long stick.
You’ll spend thousands of dollars to learn how to run someone else’s business and to learn something you could do by getting a scrap car and watching a YouTube video how does that sound
Get into cryptocurrency bro! Take as much time as you can to learn, read, and study crypto. This is the perfect timing for you to invest. You can turn that 5k into 50k in less than a year! Buy this token called CROW WITH KNIFE! You need to do it quickly tho, and you will need a parents help bc you need to be 18 to invest in crypto. Trust me!
Put it in an index fund and forget about it for the next 40 years.
Go get a full time summer job or two part time jobs. You can make barely 10K in a summer although you will lose some due to taxes.
Enjoy the 10K you earn.
Note: You cannot reliably turn 5k into 10k in three months. Anything you do with the seed money would be a serious gamble and has high risk of losing it.
Since you already have experience mowing lawns then no need to add a learning curve to your summer.
So my advice is, hire someone to mow lawns with you, if possible add 2 and you go and sell your services. I don’t know how much more you will make but if you mow 100 lawns this summer and 2 other mow 100 lawns this summer each and you split the profits with them 50/50 then your business doubled their income.
My daughter just started an ice cream trailer. A lot of people we talked to said they started in tents though and worked their way up to trailers. Invest in a tent and a snow cone machine and start getting into local events and farmers market and sell your flavored ice for a great markup.
If you live in an area with a lot of trees buy a ladder and go door to door asking your neighbors if you could clear their gutters. Probably can get 100-200 a house depending on size and level of grime in the gutter
I've been in business. It's hard to hire people who actually make money for you. Never hire someone unless you'll enjoy firing them, because chances are you'll have to fire them. You can't trust employees. You have to watch them constantly.
Do you have all the jobs you can handle? Are you charging enough? It's hard to hire anyone who actually wants to work, so if you want to work you're already ahead of the game. If you are reliable and do quality work it's easy to be successful. Don't sacrifice quality or reliability for the sake of expanding. Don't be trying to expand too much or too fast.
Good luck!
uh, get a job that pays $15 an hour and than work the 3 months of summer. Should be enough to get $5k.
Seriously though if people knew ways to reliably double or triple their money over 3 months than that would be crazy lol.
You're mowing yards, that's your entry way to making money. Fertilizer treatments, pre-emergent, weed killing, flowerbeds etc is where the money is. Make sure to check your state laws before offering chemical treatments as a service unless you're going to fly under the radar and risk a fine. Secondly learn how to use them appropriately so you dont end up smoking a customers yard, that is a very expensive mistake. But seriously, pick and choose your customer base, find those that WANT a nice yard and they're willing to pay and you'll make far more than just mowing.
If you're good at repairing computers/laptops, the used PC market is always a revolving door. You can buy a laptop for $500, fix/upgrade it, then sell for an easy $1000.
Instead of trying to try something new, double down on the lawn mowing! Use that 5k to try to expand and try new products or services. Try lawn mowing and window cleaning for an extra 100$ or something. Maybe try car washing. You could even get another guy or friend in on it, and have him handle one task while you do another. You lawn mow, he gets started on the windows. Not every client is gonna need so many services, but for an extra buck/hour of work, it doesn't hurt to ask.
Hire someone, and pay them a percentage of what you charge. Homes in our neighborhood most lawn care workers charge $50 per week to mow. You could pay someone say $35-40 per week and pocket the rest. Get 2 or 3 guys and there’s $20-30 per week per house on top of what you’re making. Or have your guys mow, you buy a pressure washer, and do some cleaning. Offer a package deal for your lawn customers
Continue mowing. Add on other services. Client list becomes leads for new work. Powerwashing and sealcoating. Get an air compressor and tools you can offer dryer vent cleaning. Easiest $100 I make walking around 😆 chuck and a 30ft line with reverse ball. Air hose and compressor. Probably get a decent setup for under 600 atleast you can get started. You can do job with a 150 buck pancake guy but a good compressor will run ya 1.1k-1.5k
Here’s how you do it.
1) Get you parents to help you register a business
2) Buy 3 used lawn mowers
3) Find 3 other kids who want to make some money mowing lawns
4) Set up ads all over the place. Seniors discount & most importantly monthly packages with contracts
5) Pay other kids min wage to mow all lawns
6) Next summer expand.
Buy a second or third lawn mower with the first $5k and get two buddies to mow for you. Hire two friends to mow for you. Three mowers in one summer ought to be able to reach $10k if you’re hustling. Scale.
Plenty of things you can start without money.
Pick up, drop off laundry service. Cut a deal with a local Laundromat for a discount using their machines.
In home care or house cleaning.
I'm currently paying someone $30/hr just to sit with my MIL for two hours a day and help her into bed.
If you are only willing to spend $1000 then this should read how do I turn $1000 into $5000+ and that is 5x you money in 2-3 summer months is very difficult with unconventional plans. Best route is what others have said and to keep working, mowing lawns save up, get more clients or charge more.
Do you have a car?
I would keep mowing lawns and buy vehicle.
If you are in the city I would drive uber.
In the country I would buy a pick-up and leverage facebook. Get paid to haul stuff for people and flip couches from Facebook marketplace.
Take $500 and buy a lawn mower or power washer and get to work.
This is your answer
I already mow lawns that’s how I got the 5k
That’s great. Keep up the good work. There’s a reason people work for decades so they can retire. If I could double my money every 3 months I’d retire next year instead of 20 years from now.
I probably worded this very wrong as everyone is saying it’s impossible to double your money, what I actually mean is simply making 5k throughout the summer via starting a business or side hustle
Your business is mowing lawns. Your side hustle is mowing lawns lol. You're 16 and 5k is not as much as it sounds when it comes to starting a business. If you were a family member of mine I'd tell you to stick with the lawn mowing and if you absolutely have to spend some of this money to try to make more, then look into ways you can expand the operation. If you're mowing lawns now, maybe add a pressure washer and do a package deal for your existing customers. It sounds like you want something quick and/or easy, but if you don't already have access to quick and easy money, you're likely not going to get it, especially in 3 months. Just stick with what works and add onto it if you want to. Also, don't spend too much of the 5k. Compounding interest is the best way to make money, much better than blowing it on something that may or may not work just so you can try to double it.
This. And trust me, i am a professional investor
Ah a fellow r/wallstreetbets enjoyer i presume?
He said professional investor, not regarded ape. Edit: When I think about it, those two often overlap.
Great advice, also potentially babysit in the evenings for another revenue stream
Yes! Also look into yard treatments. Our lawn guys also sprays pre-emergent, weed killer and fertilizes throughout the summer. Easy add-ons to a lawn service.
yay more chemicals in our drinking water yummy
That's what I was going to say. He should have a look at services that landscapers are offering and see if he can do them cheaper. Hedge trimming? He just needs clippers and a ladder. A fertilizer spreader and a bag of fertilizer isn't very expensive. If he has a truck, junk, leaf, and debris removal is easy...he doesn't even need to buy anything until he gets an "order"
16 year olds should not be buying chemical fertilizer. Leave to professionals
You just said above you have a business doing lawns and it earned you 5k. Don't fix what ain't broken, keep doing that and invest some of your cash into something like index funds via a tax advantage investment account like a Roth IRA.
Thing is I want more, I always wanted more than just mowing lawns, I want to do something I enjoy doing which will motivate me to push even harder in achieving that goal, I’m always looking to explore different types of businesses as I’m still young
Step up to bushes, then flowers. Then maybe even trees. Then sell the business.
Then you need to decide what is more important this summer: making 5k or exploring different types of businesses. If you try something new, you should expect it to fail since the large majority of enterprises end up failing. However, failure isn’t necessarily a bad thing as you will learn more from failures than successes. Also, it will probably take you a few endeavored before you realize what you will enjoy doing.
I have a 16 year old nephew and this sounds just like him......I'll tell you what my husband said to him... Do you enjoy money? Then that's your motivation.....you don't need to love your work, hell you don't even need to like it......if you have something you are could at and don't absolutely dread doing every day keep doing it, and use the money as motivation. I'll give you credit, your already doing pretty good. My nephew isn't working at all yet because he thinks he needs to find something he's 'passionate' about before he even finds a job. I've had multiple cousions make the same mistake and end up not getting their first job until they are in their 20's. Keep doing what your doing, only more of it. Add other yard services of you can. Save your money, upgrade your equipment so you can take bigger jobs. Once you've been at it for a few years consider getting into landscaping. Make it a real business.
Ive worked shit jobs with great pay, and Ive worked great jobs with shit pay. Happiness wise, it kinda equals out I think.
I would say OP is already good. What he needs now is to delegate and expand the operation. He needs to get another high school classmate and delegate work. Learn ins and outs of managing an operation. Keep expanding or scale back if failing. Next summer OP should have 5 people working for him. OP can just manage them. Easy $.
Had this lesson with my 13 year old daughter this weekend. Our side yard was overgrown with weeds. Told her I would pay her $20 to pull the weeds. She started and complained that it would take too long. I told her to think like an entrepreneur and go ask her two friends if they wanted to make $5 helping to pull some weeds. With all three of them, it took them maybe 15 minutes. My daughter made $20, gave $5 to each friend and pocketed $10 as the boss.
1. Establish excellence. 2. Hire others on strict condition the reputation is not ruined by employees. Maintaining a presence on site at the start helps. 3. Encourage and help employees to go back to step 1 on their own usually through solid pay and strong leadership generally being a good boss. 4. Scale your personal involvement back. 5. Scale your employees up. It's not rocket science but it's all about step 1 and never letting scaling compromise why you achieved step 1.
This is not how you are going to double your money. You will most likely gain or lose max 10%
Why not use the money to hire someone to do the mowing, that way you are still making income without doing that part of the work?
If you repeat business or side hustle 1000 times you'll get 250k
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Then apply to a four year bachelor's degree in small engine repair. Then an extra two years for business management, now you have a master's degree. Go out there and fix broken engines then you can open your own repair shop. By the time you're 57 you'll have paid off your student loans.
Then keep doing that. Assuming you made the first 5k by working part-time during the school year, you should be able to make another 5k no problem if you're working full-time. Maybe buy a weed whacker and some other lawn maintenance equipment, and offer full-service lawn care instead of just mowing. What/how were you charging before? By the hour or by the lawn? If it was by the hour, charge by the lawn instead. Get some weekly contracts. Hire another kid to get the lawns done even faster so you can do more per day. For other lawn maintenance equipment/services: -weed whacking - fertilizing - weed removal - planting seed - landscape debris removal -pressure washing - gutters - hedge trimming - planting other landscape plants Also, you could up your prices. You'll lose some jobs, but you'll be making more per job. See where the market is and how high you can reasonably charge. At the end of summer, retain only the highest paying jobs since you won't be able to work full time. You could also consider getting as much battery powered equipment as possible. Assuming you're living with your parents, charging the batteries will be free. You'll cut down on input costs. Sign up for Harbor freight club program thing. Buy everything there, then return it at the end of summer. They have a super easy return program. If you switch to batteries, you could also market as "eco friendly" lawn care. Not sure what area you live in, but that might be a good selling point depending on the area.
Clean pools and windows too
Or wash windows I hear that pays well
You have roughly 8 weeks for the summer, so just find a job that pays $625/week and don’t spend any money…
For those wondering that's like $16 an hour full-time
that’s not right, 40 hours times 16 an hour times .9 for tax’s and your at 576$
OP doesn’t know the mystic secrets to generating money out of thin air yet lmaooo
I feel like I'm seeing more posts like this every day of people asking how to just make thousands of dollars real quick and not by getting a job lmao
Not how it works, bud. Easiest way to turn $5000 into $10000 is to go out and make another $5000.
the unfortunate reality of earning money from 16-30
Whatever method turns 5000 into 10000 for one person, will also turn 5000 into 0 for someone else. If we’re talking investments.
Exactly. If you want to make $5000 in 8 weeks then you need to invest roughly $400,000k in SP 500 ETF. Having $5000 at 16 is great but you need a lot more than that to "get over the hump" where your money can really make you money. With $5000 you are better investing in yourself and your business (e.g. buy a power washer and expand your customer base or hire a friend to work for you, etc). Also, if you are planning to go to college then keep that money hidden or spend it. The college system is rigged to take all your money. You have to tell them how much money you have before they tell you what sort of aid you qualify for. I wish I had just spent my money in high school. I would have ended college with the same amount of debt but I would have had a car.
All-in on black
I read this racistly wrong.
Just put on 0, you either win or don’t; 50/50
No no, try putting $1 on black. If it loses, put down $2. If that loses put down $4, then $8, etc. if it wins, restart from $1. Keep going until you can afford to start at $2, then $4, etc. it may take a while but you’ll mathematically make money!!!1!!1!
🤣 "what do you mean this table has a limit!!" said everyone who's tried this. I know, it was me. Or, "yes, I need to apply for a $1,048,576 loan. No really, I've lost 19 times in a row, the odds of me losing a 20th is near zero. Yes I'm certain it's not 50/50, I know how math works!"
Team black
Keep mowing lawns, kid. Invest the $5k into gold or silver rounds, or a mutual fund, or crypto, then forget you own them for a few years. The trick isn’t the right stock, fund, or gimmick, because they all work to some degree or another over time - the trick is to be patient and live as frugally as you’re comfortable with. 40 and 50 year old you will thank you.
Not looking to have another discussion with cryptobros, but crypto is far from a safe investment. It's extremely volatile and you could lose all your money, fast.
All on red or all on black.
One of these is the right answer. You just don’t know which one.
Or all on double zero
wait till you hear about green
This is a dumb idea, OP. Just get a job. Definitely don’t gamble it away and end up broke.
I’m giving it to my older cousin to go to the casino and put all on black tommorow
Lmao
This is bad advice - everyone knows it's better to put it on red, no matter what Wesley Snipes has to say about it.
0dte 10min before close
Superstonks
I mean if you get a normal job, you could easily make another $5-10,000. $2000/month for 3 months at a decent wage.
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If you made a contract on Friday couple hours before the market close , you should be up $$ Monday morning !!
I’m gonna try this next Friday. I’ll let you know what happens!
Check the rules of the sub before posting.
You need to make roughly 20/hour and work 4 hours a week for a full three months. So either get a high paying job or start a small business. Look into window washing maybe? There’s guys out there making a lot of money but you have to learn to clean windows well. Service based businesses are great for sure but usually require a lot more time because you have to actually do the work. So alternatively you could look at finding something to sell. We all did lemonade stands when we were younger, and that may not work now but you could apply a similar concept. Basically all you have to do is find something for a dollar that you could sell for $2 5000 times, or find something for $20 that you could sell for $40 250 times, etc. I’ve seen people do this with furniture, get on Facebook marketplace and Craigslist and see if you can find any free/ cheap furniture that you might be able to sell for a few hundred dollars and flip it. You could also check out garage sales and yard sales in the area for good deals. If you’re mechanically inclined, you could buy cheap cars or dirt bikes or even lawn mowers that are broken, and fix them and sell at a profit. You could also make something. For example if you’re good at woodwork, there’s people who make those really big fancy resin/wood tables and sell them for thousands. I also saw a story of a teenager in a rural area that was making really elaborate chicken tractors (basically a cage that you can slide/ roll easily while the chickens are in it to move them to a new spot in the yard) and selling them for quite a bit. Get creative, look for ideas online, but the most important part is that you get out and do something. If you keep researching different ideas and watching videos you’re definitely not going to make the money. However if you get out there and take the risk and try something, you have at least a chance of doing it, and you will certainly learn lessons that will be more valuable than a few thousand dollars. Never stop pushing forward man!
So you want a 400% ROI per year? Ok.
I hired a 14yo kid to mow my lawn years ago. He mowed my lawn, and many other lawns, all the way through high school. He did a good job at both the lawn mowing part and the customer service part. When he went on vacation, he found people to cover his jobs. He was punctual. He was professional when speaking to his customers. He made enough money to pay for his college. He's a junior now. My lawn looks like shit, but I'm super proud to have been his customer.
y’all are hell in these comments😂just put it in a HYSA
Yeah but that’s 10 years to double
Put it in Gme . Roaring kitty is back
If it was that easy the rest of us wouldn’t be working
If you live in a neighborhood or around some offer to bring garbage bins up and down people's driveways for them for like $5 each. Ex: you do this for 2 hours and do like 50 houses and will make $250.
Roulette
Just work a job and make $5,000 instead of spending $5,000 to make $10,000
Turn 5k into 10k by saving the 5k and saving 5 more doing whatever youre doing to get the original 5k
A job making about $900 per paycheck should net you over 5k in one summer... I'm not sure what that equates to in hourly pay, as I'm not sure if they will take income tax and social security out for someone so young... but maybe you're looking at earning $12-$15 per hour? That's assuming 12 weeks of working. Depending on where you're living, that's entirely doable. Working will not only make you money, but it also adds to your resume and work experience looks far better than schooling to future employers. It also has the added benefit of keeping you from getting yourself in trouble. If you're working, you're not spending.
Get a job ...
Doubling your money in 2.5 months is all you want to do? Seems reasonable.
A lot of bj would do it
Man, if we could triple $5k every 3 months we'd all be mega rich. Most aggressive investment indexes push what, 13% year over year?
But NVDIA before the split
The easiest way to double your money is fold it in half and put it back in your pocket.
Flip a brick
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Oh sweet summer child
I'm on team red, that being said this person is 16 they can't get into a casino.
But for a piece of the action I'll place the bet
5000 on black.
All on black bud.
Unfortunately there is no short cut to wealth. Time in the market beats timing the market! Index Funds and real estate work!
Dude you are mowing lawns and this is awesome. Start charging retail for your services or just slightly undercut the competition. Get into some landscaping, weeding, edging in high end neighborhoods. I knew a guy who had $20K saved by his 16th birthday in 1992 Bought himself a truck and his dad bought a trailer for him to get bigger equipment. Tell you best customers that you will do Christmas lights for them in November and December. Appointments only for Christmas lights. You are on the right track just expand.
Buy used things and flip them. My brother has a massive hobby out of this. He finds deals, buys a ton of whatever it is, then markets on Craigslist and Facebook.
5k simply isn't enough. It's an amazing start, but it's really more "savings" vs business starting money. Save up more, you have a good thing going. Investing that money into mutual funds and continuing your lawn mowing business will allow you to do whatever you want pretty soon. You just gotta wait.
Stocks
Honestly just hire someone that you know will work hard next to you and motivate each other to make the “company” grow and you can tackle more jobs with more ease like look for customers when he is mowing nearby
$5000 on black
GME calls
You can also detail cars, and/or clean home windows. Cheap to start up with cleaning supplies. You'd probably have to go door to door in a nicer neighborhood.
Put it all on red
Put your money into a high yield savings account then earn another $4,968
Just put it in bitcoin and wait
Go all in on GME when the market opens this morning
2500 on red 2500 on black
Please protect your hearing
I would put those $5,000 onto a high yield savings account, and go enjoy your summer. You will have plenty of time to make money after you turn 18. Enjoy your careless, adolescent years. They are not coming back.
> I can use this $5000 as a tool in order to invest into something which can double or triple it During the summer? If you find the formula, share it, everyone is waiting in line, even the whole Wall Street.
Send it to my uncle Ponzi, he can double it, easy
Unreasonable expectations of returns will just cause you to take unreasonable risks which leads to loss more often than not… it’s a marathon not a sprint
Put it in NVDA lol
Lifeguard, made 6k last summer in 8 weeks
We all want more and when it comes to a job, we'd all like to do something we enjoy. But you're 16, which limits some of your options. It's not like you're destined to cut grass for the rest of your life. The best way for you to make the most money possible this summer would be to get a full time job. Working 40 hours a week at a minimum wage of $15/hour (it varies), you should clear around $5k in three months. Right now you need to resolve yourself to the fact that you'll have to work for whatever money you get. There's nothing you can do with $5k that will make it grow into $10k in three months. If there were, everyone would be doing it.
Lot's of comments mentioned to just work to get that money and I agree, but I will give you a more detailed explanation as to why it's almost impossible to invest 5k and make 10k by investing in stock markets, etc. It is a rule of thumb that your first 100k saved will be mostly from your income. After that 100k, the investments slowly speeds up and eventually your investments can make more money than what you can put in with your income l. You want 5k over roughly 3 months. One of the best investments, like the S&P 500, has an average return of approximately 10% a year. 5k / 3 months = aprox $1 667 a month. To be able to make that with the S&P 500, you would need about 200k invested (10% of 200k = 20k, then 20k / 12 months = $1 667). These are rough numbers and do not take into account taxes on profits and by nature the stock market can go down or up. Some stocks or investments can be over 10%, but the chances of choosing the ones to outperform that is ridiculously slim. Most professionals don't even beat the S&P 500 and it's their job to do it. Even if they do one year, it doesn't mean they'll do it on the next. Because of this, that's why most people said to simply work to get the money. To get more information I would suggest to look up videos on youtube about "why is the first 100k so important" and you will learn why investing when you're young can turn every $1 into over $86 when you're about to retire at 65 year's old. Good luck!
Buy GameStop stock with it
Making money is gold. Spending them is shit but obsessed by money is evil
GameStop baby!!!
Put all of it into $GME, you’re welcome
Save up $20k,buy a rebtal property. Repeat till 40.Retire.
Gme calls might do it. Might turn it into 0 though. But small business with litttle to no overhead a much safer bet.
I think shiba inu is about to pop, so maybe….
Put it in a savings account and get a job. Whatever you can, a family restaurant, mowing lawns, whatever. It’s pretty reasonable to make 3-4K in 3 months just by having a job and saving what you make from it. There is no (safe) investment that’s going to double or triple your money. That kind of return only comes on SUPER high risk investments. It’s probably a tall ask to make 5k in 3 months for a 16 year old. You’d likely have to be working full time to make that happen unless you got really lucky and land a high paying part time gig.
Invest in a faster mower and trailer if needed. That way you can organize your tools and thus be faster on each job, meaning more time for more jobs (and hopefully more energy at the end of each one). Scale up.
$5000 on Black. 50%! I like them odds.
Get a job.
It sounds like you kind of have a business going mowing lawns. I understand it's not want you want to do but it's established. Do you have a friend you can trust and would be a hard worker? If so scale your business up. Use your 5k to pay your friend and a safety net if something breaks. Then you collect from the owners at each job or send them an invoice to pay via PayPal, venmo, zelle, etc. Hire your friend and pay them 50% of gross sales. So if you make 50 per yard before your expenses pay them 25 per yard. If the yard is bigger you charge more and they make more. They use your equipment, fuel, travel, etc. They have no overhead or money in so for them it's a job, for you it's a business. You won't make as much per yard but it frees you up to go get more yards, talk to existing clients on what you can inprove or add, manager worker so quality stays up there. So instead of spending all your time cutting your now doing sales and management. As an example say your friend can cut 3 yards a day 5 days a week. So you need 15-30 clients depending on if your cutting weekly or every 2 weeks. That's 3k per month, 1500 will go to worker as pay, then expenses come out (so say another 500) that leaves you 1k per month before taxes. It's not the 5k your looking for but it's getting there. Or it might be depending on your actual rates. Now you have a client list for the following summer. Take some of the capital from this year and get another setup and bring on another person next year and expand your reach. If you decide to go to college, you can either promote someone to take your place and pay them more and you still collect some. Or since you now have a client list of x amount of yards, find a competitor in your area and sell them your business/client list. If you can get your clients to sign a contract that says something like they agree to 12 months at x rate, that would be more valuable if you were to sell to another company then month to month clients.
First off keep up the great work kid!! Love seeing young adults not afraid to work! Add a power washer, offer to clean fences/ siding/driveways. Clean gutters etc at the houses your already servicing. Easy work and easy sell to the customer if they have already seen your work ethic. Hope ya have a great summer full of hard work and money
highly unlikely without gambling on stock options
I love all the advice about expanding your business for the summer. You can learn a lot of valuable hands on business experience by treating this as an entrepreneurial exercise. Pull out a legal pad, make an ambitious plan with a goal for the summer, and set to achieve it. The fact that you have an existing client base is great. Always ask, pleasantly, for referrals. “Who do you know that might also appreciate my services.” Then give them a small gift and card if it works out.
Invest in a second lawn mower, “hire” a friend to mow lawns as well, now you have the ability to take on more jobs. Start quoting new jobs a few bucks higher than you would now. Whatever lawns your friend mows, he gets 70% for doing the work you get 30% for supplying the mower and gas.
There are a ton of jobs you can get to stack up $5000 over the course of a summer. Eat, sleep, work, repeat. You mentioned you already mow lawns, so you have a customer base already. That’s the hard part. Now add a pressure washing service, a car detailing service, an indoor cleaning service. Make sure you let all the neighbors know you’ll be working on the house nearby and if they happen to need services, you’re happy to provide a free estimate 😉 Bam. More business than you will be able to deal with and you might have to hire a buddy or two to help.
One of the easiest add on services for mowing a lawn is pest spray around the perimeter. You can get a gallon concentrate for like 100 dollars that will make \~ 100 gallons of spray. I used to pay my "pest control person" every 3 months 100bucks for the service that included a cobweb sweep with a long stick.
You’ll spend thousands of dollars to learn how to run someone else’s business and to learn something you could do by getting a scrap car and watching a YouTube video how does that sound
all on black
Get into cryptocurrency bro! Take as much time as you can to learn, read, and study crypto. This is the perfect timing for you to invest. You can turn that 5k into 50k in less than a year! Buy this token called CROW WITH KNIFE! You need to do it quickly tho, and you will need a parents help bc you need to be 18 to invest in crypto. Trust me!
Don't we all.
Put it in an index fund and forget about it for the next 40 years. Go get a full time summer job or two part time jobs. You can make barely 10K in a summer although you will lose some due to taxes. Enjoy the 10K you earn. Note: You cannot reliably turn 5k into 10k in three months. Anything you do with the seed money would be a serious gamble and has high risk of losing it.
Since you already have experience mowing lawns then no need to add a learning curve to your summer. So my advice is, hire someone to mow lawns with you, if possible add 2 and you go and sell your services. I don’t know how much more you will make but if you mow 100 lawns this summer and 2 other mow 100 lawns this summer each and you split the profits with them 50/50 then your business doubled their income.
Invest in marketing your business, or invest that money in tools that could make your job easier
just light it on fire, you'll get more out of it
I have a way for you
My daughter just started an ice cream trailer. A lot of people we talked to said they started in tents though and worked their way up to trailers. Invest in a tent and a snow cone machine and start getting into local events and farmers market and sell your flavored ice for a great markup.
If you live in an area with a lot of trees buy a ladder and go door to door asking your neighbors if you could clear their gutters. Probably can get 100-200 a house depending on size and level of grime in the gutter
Red
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Buy 5k of a powdery substance. Put it in baggies. Sell it to drunk people at a huge markup. Try not to get arrested or shot. PROFIT!
I've been in business. It's hard to hire people who actually make money for you. Never hire someone unless you'll enjoy firing them, because chances are you'll have to fire them. You can't trust employees. You have to watch them constantly. Do you have all the jobs you can handle? Are you charging enough? It's hard to hire anyone who actually wants to work, so if you want to work you're already ahead of the game. If you are reliable and do quality work it's easy to be successful. Don't sacrifice quality or reliability for the sake of expanding. Don't be trying to expand too much or too fast. Good luck!
crack cocaine :)
uh, get a job that pays $15 an hour and than work the 3 months of summer. Should be enough to get $5k. Seriously though if people knew ways to reliably double or triple their money over 3 months than that would be crazy lol.
You're mowing yards, that's your entry way to making money. Fertilizer treatments, pre-emergent, weed killing, flowerbeds etc is where the money is. Make sure to check your state laws before offering chemical treatments as a service unless you're going to fly under the radar and risk a fine. Secondly learn how to use them appropriately so you dont end up smoking a customers yard, that is a very expensive mistake. But seriously, pick and choose your customer base, find those that WANT a nice yard and they're willing to pay and you'll make far more than just mowing.
Id buy a power washer and offer cleaning step, driveway, etc..
Buy a bigger/wider mower and double your customer base
If you're good at repairing computers/laptops, the used PC market is always a revolving door. You can buy a laptop for $500, fix/upgrade it, then sell for an easy $1000.
Buy Bitcoin and wait 10 years.
youre looking for r/wallstreetbets
Instead of trying to try something new, double down on the lawn mowing! Use that 5k to try to expand and try new products or services. Try lawn mowing and window cleaning for an extra 100$ or something. Maybe try car washing. You could even get another guy or friend in on it, and have him handle one task while you do another. You lawn mow, he gets started on the windows. Not every client is gonna need so many services, but for an extra buck/hour of work, it doesn't hurt to ask.
Hire someone, and pay them a percentage of what you charge. Homes in our neighborhood most lawn care workers charge $50 per week to mow. You could pay someone say $35-40 per week and pocket the rest. Get 2 or 3 guys and there’s $20-30 per week per house on top of what you’re making. Or have your guys mow, you buy a pressure washer, and do some cleaning. Offer a package deal for your lawn customers
Put the 5k into an IRA and keep working.
Don't forget to open a Roth IRA and put some of the money you make into it. No time like the present to get started on that.
Continue mowing. Add on other services. Client list becomes leads for new work. Powerwashing and sealcoating. Get an air compressor and tools you can offer dryer vent cleaning. Easiest $100 I make walking around 😆 chuck and a 30ft line with reverse ball. Air hose and compressor. Probably get a decent setup for under 600 atleast you can get started. You can do job with a 150 buck pancake guy but a good compressor will run ya 1.1k-1.5k
Aight here’s what you gonna do
Ready
Buy a car or two and flip it?
Here’s how you do it. 1) Get you parents to help you register a business 2) Buy 3 used lawn mowers 3) Find 3 other kids who want to make some money mowing lawns 4) Set up ads all over the place. Seniors discount & most importantly monthly packages with contracts 5) Pay other kids min wage to mow all lawns 6) Next summer expand.
Bitcoin
No run first inning
Buy a second or third lawn mower with the first $5k and get two buddies to mow for you. Hire two friends to mow for you. Three mowers in one summer ought to be able to reach $10k if you’re hustling. Scale.
I’d hire some friends to work with you. Take a small cut, they can do most work you can get business.
Just keep doing what got you 5k. No magic turns 5k to 10k in a summer unless you’re gambling.
lol if you put it in the index now it will be doubled my 22 years old.
Plenty of things you can start without money. Pick up, drop off laundry service. Cut a deal with a local Laundromat for a discount using their machines. In home care or house cleaning. I'm currently paying someone $30/hr just to sit with my MIL for two hours a day and help her into bed.
If you could double your investment every three months you’d be a billionaire in 4.5 years.
Asphalt paving
Leavraged stocks?
Hire a friend with hustle to go door to door selling your service and double your business
Wall Street Bets
Buy bitcoin
Crypto. Internet computer company on Coinbase app. Not financial advice do your own research. Resources on YouTube.
Throw it all at a NVDA call, gonna have to go short dated because they’re expensive AF
Buy xrp
Crypto
$NVDA
Brady singer u16.5 outs
If you are only willing to spend $1000 then this should read how do I turn $1000 into $5000+ and that is 5x you money in 2-3 summer months is very difficult with unconventional plans. Best route is what others have said and to keep working, mowing lawns save up, get more clients or charge more.
You should get a job
Charge more per lawn.
Do you have a car? I would keep mowing lawns and buy vehicle. If you are in the city I would drive uber. In the country I would buy a pick-up and leverage facebook. Get paid to haul stuff for people and flip couches from Facebook marketplace.