We are new to the chicken world; we bought 6 RIR pullets from Rural King, and 5 turned out to be cockerels. We found homes/traded the cockerels, except for the nicest one, who is 5 months old. We researched (online and library) about the importance of training him, which consists of showing him that we are the alpha roosters. If he mounts one of the pullets, we immediately yell "No" and chase him away (the pullets chase him along with us!). We never kick him or anything like that. The downside is that cockerel/roosters attempt to mate all hens throughout the day. We also make sure that he lets the pullets eat first, especially when treats are served (like berries or grapes). Another way of demonstrating to the flock that we are the alpha roosters is that we pick him up and carry him around a little everyday as the pullets watch. As your cockerel grows, make sure that all family members handle him a lot, but make sure that you treat him with authority; saying "No" and not treating him like a baby. If you keep him, just use consistent training. Regardless, I would be concerned about your young children; I would never leave them unattended.
The biggest downside of having a cockerel/rooster for us is the crowing off and on throughout a 12 hour day. I just keep reminding myself that there are other noises in nature-- mockingbirds, the neighbors' barking dogs, and cicadas-- and much worse noise in the neighborhood like screaming kids, motorcycles, leaf blowers, chain saws, etc. Besides the benefits of having a rooster for the flock, they are just magnificent and fascinating creatures.
The biggest downside of having a cockerel/rooster for us is the crowing off and on throughout a 12 hour day. I just keep reminding myself that there are other noises in nature-- mockingbirds, the neighbors' barking dogs, and cicadas-- and much worse noise in the neighborhood like screaming kids, motorcycles, leaf blowers, chain saws, etc. Besides the benefits of having a rooster for the flock, they are just magnificent and fascinating creatures.