09Dec
2016
0

Jacks Stands and Marketplace

screen-shot-2016-12-09-at-10-26-36-amI just read about this boy Jack Bonneau, who is 10 years old and at 8 he wanted to make money to buy a Death Star Lego set which was $400.00. His father suggested that he set up a lemonade stand to make money.

But instead of setting up his stand in front of his house, he and his father talked about setting one up at his local Farmers Market. Jack said, “I went to a farmers market where there were lots of customers that couldn't say no to an 8 year old. I sold a whole bunch of lemonade, made friends, learned about entrepreneurship, financial literacy and had a lot of fun.”

After working it for several weeks in the summer he was able to buy his Death Star Lego’s. After a while, he invited some of his friends and they had lots of fun learning how run a lemonade stand too. That’s when the idea came where maybe he could help other kids who want to operate their own lemonade stand, but don’t have the time, commitment or money to operate one at a farmers market.

So the next summer he launched JacksStands.com.

On the website kids can schedule a day, a month or a summer of dates at the farmers markets that they work with. Jacks Stands will set up all the dates with the farmers markets, obtain the proper insurance, permits and provide kids with their own stand, supplies and lemonade - so each kids can focus on selling lemonade, counting change, figuring out expenses, sales, profits and losses.

Kids get a chance to learn about entrepreneurship, business and helping a few charities, while making some money.

During that summer over 100 kids (and their parents) were at Jack's Stands (total of 4 stands). Then before last year’s holiday season they added 2 new stands at the Southwest Plaza Mall Holiday Marketplace for 7 weeks over the holidays. Kids were able to sign up to operate Jack's Stands selling coco and apple cider or operate Jacks Marketplace.

Jack's Marketplace also had products made by other youth entrepreneurs (under 18 years of age when they started) for sale during the holiday season.

Recently Jack was even on Shark Tank pitching his Jack’s Stands and Marketplaces to the sharks seeking $50,000 for 10 percent equity in his company. Chris Sacca offered him the money he was looking for as a loan instead of buying into his company.

It will be interesting to see how Jack does and how many kids he helps by giving them a chance to operate their own small business.

http://www.jacksstands.com/

No Comments

Reply

Ready to change the world?! Click here to set up your FREE profile page. Get the help, money, resources and like minded friends you need to succeed!

Let's Go