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The Candy Man Entrepreneur!

June 3rd, 2012

Enterprise for Children can be a lot of fun, especially if it involves a four year old and a mountain of lollies! After you read this blog you’ll understand why Hansel and Gretal gave in to temptation to eat the witch’s candy house.

The Candy Man with his $50

... outside the supermarket!

"Let's eat!"

 

 

 

 

 

 

 

 

Chayse and I headed off to the supermarket with his $50 just as he had planned. We walked the Candy aisle and Chayse picked out the lollies he thought would be the yummiest. He bought everything from snakes, milk bottles to musks, liquorish and lollipops. Next he added to the shopping trolley 50 plastic sandwich bags and some packets of brightly coloured balloons. His whole investment of $50 was spent in no time. The check out lady asked him if was his birthday! Chayse nodded.

The production line!

Chayse’s brothers and sisters were at the car ready and waiting to escort him into the house and feast their eyes on all his lollies. Chayse was really enjoying all the attention! He bossed his brothers and sisters around as they bugged him for a lolly and offered to carry his bags.

It was all hands on deck. Jaxon and Mitchy from next door came over to help out and a production line was organised around the kitchen table. The lollies and balloons were placed into fifty piles and bagged up.

Chayse’s intention was to sell each bag for $2. So if all goes to plan he should make a 100% on his investment.

The production line team!

Cathy and I helped him with a sturdy box to display his product. We attached a strap to the box to help him hold it up and then made up a sign.

Mitchy and Jackson ran off home and immediately returned with money to buy a bag each. Chayse’s first customers! 98 candy bags to go!

Chayse’s brothers and sisters also wanted to buy a bag each with their pocket money. We had to put a halt to that as it was going to create troubles, especially as Chayse wanted to buy his own lollies too! So the compromise was that they were able to polish off the left over lollies… and of course Chayse was in charge of sharing them out to his drooling family.

Chayse's first customer, Mitchy.

Chayse’s enterprise for children business was now all set to go. His next job is to market and sell his product. We will share that story in a later blog.

Next up we’ll tune in with Kit the Dog Whisperer and see whether his enterprising idea has evolved!

Flynn’s Honey Investment Continued……

June 1st, 2012

You may remember from a previous blog that Flynn’s Enterprise for Kids plan was to buy honey at wholesale and sell at retail. All he needed was a good source of cheap quality honey that he could buy in bulk.

Flynn’s Grandad has kept bees for over twenty years and had a number of hives which he regularly harvested honey from. The honey produced from his bees is very light in colour and tasty as the bees forage over the Mid West fields of Paterson’s Curse and coastal gums. Flynn knew that he had a good quality product.

His plan was to pay a visit and strike up a deal with his Grandad!

Flynn’s Grandad saw that Flynn had thought through his plan. He was more than willing to support Flynn with his new honey enterprise. Flynn negotiated a  good price per kg, however, the deal included Flynn having to help his Grandad rob the honey from the hives. Listen to Flynn explaining the deal he has made with his Grandad by clicking this link!

Flynn donning his gear.

Flynn with Grandad

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flynn was up for the challenge! He donned a pair of overalls, gloves, boots and bee veil. Then he and his Grandad disappeared for the morning, returning later in the day with a heavy load of honey supers in the back of the ute. They were carted around to the rear of the house and quickly stacked in the garage. Already the local bees were honing in on the honey, hoping to pinch it for their own hives. The garage door was closed to keep the bees out.

Flynn slotting the honey combs into the honey extractor.

Extracting the honey from the honey combs.

 

 

 

 

 

 

 

 

 

 

 

 

Grandad sliced the caps off the honey combs with a hot special purpose electric knife and Flynn slotted them into a honey extractor. The extractor uses centrifugal force to extract the honey from the combs. It was Flynn’s job to spin the extractor, which proved to be a lot of fun. Although everything nearby became sticky with escaping honey, including Flynn!

Checking the temperature of the honey

Yummy raw honey - a great enterprise venture

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flynn’s brother Jai, and a family friend Jack, stopped by to lend a hand. Many hands made light work and before long, after warming and sieving the honey, it was sealed into 10kg buckets.

Angry bees don’t take too kindly to people robbing their hives. It was pretty amazing that Flynn managed to do all this work without getting stung! His Grandad and Dad weren’t so fortunate though!

Enterprising Flynn paid cash for 80kgs of honey from his Grandad. He loaded it all up in our car to take it back to his home. It was a large investment for a twelve year old and Flynn, knowing its value, took great care to ensure that the honey was well sealed and cushioned for the long trip home. He didn’t want it spilling, nor did he want any ants finding their way into his containers.

Pouring the honey into tubs.

Filling tubs with Grandad

 

 

 

 

 

 

 

 

 

 

 

Flynn wanted to sell his honey at retail. He had done his research and found that honey generally sold in shops for around $12 or $13 a kg. He had a unique product. It was tasty, raw and full of enzymes, which are generally destroyed during commercial pasteurization processes.

He had also searched online for plastic honey pots. We discussed with him that people would pay a premium for his product if it looked professionally bottled and not sold in recycled jam jars. New plastic honey pots weren’t cheap! The larger the order, the better the price.

Flynn made his order over the phone and bought five hundred 500ml pots. These were delivered by mail within a few days, arriving in a massive cardboard box.

 

Flynn ordered honey jars and lids...

....ready to be filled

 

 

 

 

 

 

 

 

 

So now he was all set to go with his enterprise for kids project. He had his honey and honey pots and had spent every cent that he had. It was a huge investment and Flynn had no choice, but to make it work. He had overcome fear and had taken a calculated risk with his business. All he had to do now was bottle, market and sell his honey. … and this will all be revealed in a later blog!

In our next Enterprise for Kids blog we check back with Candy Man Chayse and see how his enterprise has been progressing.

Pulling the Money Bunny Out of the Hat!

May 26th, 2012

Amber contemplating her enterprise.

Amber didn’t waste any time jumping into her New From Old money making enterprise. She bugged me to take her to the Dardanup Tip to see what she could find. So after her Saturday soccer game we paid a visit.

At the tip there is a salvage area where anything that could be recycled is put aside and sold.

Almost immediately Amber spotted an opportunity! She saw a damaged rabbit hutch. We looked over it and could see that it was generally in good structural condition and could easily be repaired. However, it did need a paint job. So Amber went up to the Tip man and struck up a deal. She bought the cage for $10.

Ten Dollars was a real bargain! We looked up the exact same cage sold online in kit form and saw that people were paying $180 for them.

Chayse helping Amber repair the rabbit hutch.

Amber fixing the door latch.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Arriving home there was a buzz of interest as the neighbouring kids headed around to see Amber’s rabbit hutch. They were really curious to see what she was up to. Amber bought a couple of paint brushes for $5, then using some old house paint she found in the shed, she and her friends, Darcy and Lauren, set to work painting. She also employed her brother Flynn and his mate Dan for $2 each to fix the broken part of the cage. They thought that would be awesome! Enterprise for Kids was now becoming infectious in the neighbourhood.

Amber employing Flynn to help her fix her rabbit hutch.

Darcy lends a helping hand.

 

 

 

 

 

 

 

 

 

 

It was all great fun and in no time at all the cage was ready to be sold. Amber continued her research into what to sell the cage for. She spoke with Darcy’s Mum about cages and also to Nicolette from next door. Both had owned rabbit cages and understood their value. Finally Amber decided that she would ask $90 for the bunny hutch.

Her next job was to put a free advert on the local Buy and Sell Bunbury Facebook page. She put her ad up with a photo and waited for a response.

You wouldn’t believe it! Within ten minutes the cage was sold for the full $90. In fact two other people had their hand up to buy the cage if the first deal fell through. Amber met and thanked the man who came round to pick the cage up and eagerly took the cash payment. She really did pull the money bunny out of the hat!

Now for the picture for Amber's Face Book advert

Amber's finished enterprise idea

 

 

 

 

 

 

 

 

 

 

 

 

All up, an outstanding result! In only a few days, Amber’s profit was $71 after costs. She is well on the way to attaining her goal. With her money jar now looking very full, she was rearing to go for another visit to the tip! She has already begun developing an enterprise mindset around business and money and her financial IQ is growing!

We will let you know how Amber goes with her next “New From Old Project”.

Next up we will pay a visit to Flynn and see how his buzzing honey enterprise is going!

An Apple a Day Keeps the “Fremantle Doctor” in the Bay!

May 23rd, 2012

Jai, like many teenage kids, is fascinated by the internet, social media and gaming. If you allowed him, he would spend day and night on his computer, iPod or cell phone chatting to his friends, playing games or searching the net. We are careful that he is well rounded with a balance of activities such as kicking the footy and playing with his family, whilst at the same time allowing him the opportunity to immerse himself into his passion.

Jai leads a balanced life.

Jai loves technology

 

 

 

 

 

 

 

 

 

 

 

 

 

When we introduced the Family Project to Jai he knew exactly what he wanted to do. In fact his very grand idea was spawned by a family friend who has been able to develop a hugely successful company based around building Apple Apps for iPhones. Let me tell you in a nutshell his inspiring rags to riches story.

A friend of ours was originally from Switzerland and had worked most of his life in a newsagent. He also had a passion for windsurfing and would take every opportunity to visit the West Coast of Australia in pursuit of the consistent strong summer winds that make the WA coastline a windsurfer’s heaven!

In Perth, the capital city of Western Australia, the wind is named the Fremantle Doctor because it appears to come from the nearby coastal city of Fremantle, and it brings welcome relief from the summertime high temperatures.

Our friend then decided to leave his Switzerland home to follow his passion (and the Fremantle Doctor!) and set up home permanently in Geraldton (a small coastal city 500km north of Perth). He literally became a beach bum who spent his afternoons windsurfing and kite surfing and in his ample spare time he would play around on his computer.

He taught himself how to program apps for Apple iPhones and was able to make a few simple applications which he tried to sell online.

This is where his enterprise kicked off!

From the comfort of his backyard hammock, one of his Apps began selling. Sales exploded, and millions of people from all around the world downloaded it, and for each download he received a payment. He became an over night millionaire!

This entrepreneur has since built a multi million dollar company with three other partners, all from Switzerland, who incidentally, have also followed the Fremantle Doctor to Geraldton!

What this amazing man, with no formal qualifications, has managed to do in only a few years is mind blowing.

His story inspired my fourteen year old son. Jai’s enterprise plan is to build an Apple App and sell it online. How he will manage to do that is not known yet. All he has to do is have a goal and a rough plan, then focus on and tackle each of the steps one by one. Maybe Jai too will become an overnight success like our friend!

Jai often has "hair raising" ideas...

...but he always settles for what he's good at!

 

 

 

 

 

 

 

 

 

 

 

 

 

In our next blog we revisit Amber and see how she is going with her New From Old enterprise.

Kaitlin’s “Enterprise For Kids” Idea!

May 19th, 2012

I admire those very creative people who can draw!

Sadly, I am not one of those people, although there are some very artistic people in my family.

My sister won first prize in Australia’s richest art prize. a $250 000 prize for an artwork she entered into “The Signature of Sydney”, which really kicked off her painting career. Also my grandparents and Aunt on my Dad’s side were respected artists. So it is not surprising that our eldest daughter Kaitlin has an exceptional skill with drawing, and in particular pencil portrait sketches. From when she was very little, she would draw for hours and over the years has honed her skill. Her Mum, Cathy, also has exceptional drawing skills and has encouraged and taught Kaitlin many of the skills she has today.

Kaitlin's drawing.

Kaitlin's portrait drawing.

When looking for an enterprise opportunity it makes sense to look at what one is skilled at, then see if there is a need or problem in your community where your skill could be put to use.

Up-skilling yourself in your area of interest and becoming the best there is in that field, will likely increase the demand for your kind of talent and services. As a result, customers will choose you over your competitors and are more likely pay a premium. I wrote a Enterprise for Kids post on this very topic a number of blogs ago, so if you would like to learn more about how up skilling creates enterprise for kids’ opportunities, then visit here.

Kaitlin’s talent with drawing is the basis of her enterprising idea and she explains her business plan in this short video.

Kaitlin loves drawing.

She plans on spending $70 to buy the drawing and framing materials she requires to run her business. She will draw people’s portraits from a photo and sell it either framed or unframed. She will market her service on Face Book. In our local area there is a classified Face Book Buy and Sell Bunbury. Her aim is to complete one drawing a week with a sale value of about $30. In her video Kaitlin considers the road blocks with her business and has looked at solutions.

So we have covered all our kids’ enterprising ideas except for one. In our next post we share Jai’s passion for electronics and gaming and how he plans to turn this interest into a money making enterprise.

Kit’s Pocket Money Idea

May 16th, 2012

Plenty of kids receive pocket money from their parents. The kids then either save it or spent it. When we used to give pocket money to our kids, they would spend it straight away. Usually they spent their money on “junky” things that didn’t last long. This was very frustrating as a parent, so we looked for ways to teach our children to use their money wisely and to build a money mastery mindset for them. From these early days we have come up with some fantastic ideas which we’ll share with you in a later blog. You may also be interested in our views on kids and pocket money.

Welcoming Kit and his Entrepreneurial Idea.

This particular blog is about Kit’s pocket money idea and how he plans to run his enterprise.

Looking for a need…

Kit saw that there was a need in his neighbourhood for dog walkers. Whilst many people in our community walk their own dogs, there were also many elderly or busy people who own dogs and either didn’t have the energy or time to take their pet for a walk. Kit figured that he could offer a service where he could take their pet for a walk on a lead.

At first, when he shared his idea, we thought that he had gone bananas! Firstly Kit has always been afraid of dogs and secondly, he’s only six years old.   Allowing a six year old to walk the streets with other people’s dogs was certainly not looking like a good idea!

However; one thing we have learnt is to never stifle a child’s enthusiasm and condition him to think that his ideas are not good enough, so we decided to play along with his pocket money idea.

Road Blocks…

We talked through a business plan with Kit and investigated the road blocks that he may be faced with. Then we investigated the solutions.

The main issue was that he was too young to walk other people’s dogs, so we discussed that he needed an older person to go along with him. This would also provide reassurance to the pet owners that their dog would be looked after. So luckily his grandad offered to help out (he reckons he needed the exercise anyway!).

The other issue was that Kit wasn’t confident with dogs. So the plan was to carry a pocket of doggy treats to keep the dog happy and obedient. In addition Kit would provide his own dog lead. By offering doggy treats and a lead Kit was “adding value” to his service.

Dog Walking was Kit's Enterprise idea

Could this be the next "Dog Whisperer?"

 

 

 

 

 

 

 

 

 

 

 

The Fee…

Kit decided that he would negotiate a walking fee of $5 for a half hour walk and if he had one customer a day then he could pocket $35 a week.

So it was on. Kit was now officially a professional Dog Walker!

And who knows…..from these humble beginnings, he may even become the next famous Dog Whisperer!

In our next “Enterprise for Kids” blog we will introduce Kaitlin’s very creative,  enterprising idea and her well thought out business plan. Stay tuned for that one….

The Candy Man Planning an Enterprise!

May 13th, 2012

All kids love lollies (Candy for our American readers)! Chayse too really loves lollies! So it came as no surprise to see Chayse planning an enterprise that revolved around lollies.

Now Chayse is only four years old so he needed a little help formulating his plan. Initially he liked the idea of buying a heap of lollies, but I think he was thinking that he was going to be the one eating them!

Eventually, after much explaining, it became clear to him that he would be selling them, not eating them himself. His brothers and sisters all thought his enterprise idea was pretty cool and I’m sure were thinking, “Why didn’t I think of that!”

Chayse planning an enterprise with his $50 start up capital.

We don’t have a video of Chayse explaining his business plan. In fact, there isn’t much to it so I’ll just explain for you here.

We have lent Chayse $50 to run his business. He plans to buy large bags of lollies from the supermarket, bag them up into small mixed bags, then sell them for twice what he paid. His market will be all the hungry kids who play and watch soccer games on Saturday mornings at the local soccer fields.

If his enterprise goes to plan he will double his money or get 100% return! That will put a smile on any young four year old’s face.

We will keep you updated with how his money making enterprise goes.

Next up is Kit planning an enterprise. Kit is so excited that he reminds me of our late over-zealous Jack Russell Terrier when she used to go out for a walk!

New From Old!

May 9th, 2012

My family immigrated here to Australia from Kenya back when I was just a kid in 1970. They came out with little qualifications, money or possessions and were supporting a young family. In order to make ends meet, my mother became very good at hunting down a bargain at a variety of places, including thrifty stores, lawn sales, second hand shops and markets. Years later she opened her own second hand goods shop and did exceptionally well out of it as a small business.

Amber was looking for an enterprise idea. She knew her Grandmother was an expert at finding bargains and then on-selling them for a profit. Her Gran suggested that Amber start her search at the local tip’s recycling centre, a place where thrown-away items are put aside, then sold to the public for next to nothing. Here was a wonderful opportunity to buy something, fix it up and resell it.

Gran is a great bargain hunter.

Fossicking for "treasure"

 

 

 

 

 

 

 

 

 

 

The old saying…“One man’s trash is another man’s treasure!” was to ring very true here.

So that is the basis of Amber’s new business.

To create something new from something old.

Her business plan is very sound and she’s definitely onto a winner! She is very proud of what she has come up with and shares it below in this short video. Just click the picture of Amber to view her new enterprise idea!

Amber

 

 

 

Next we will share Flynn’s business plan for his new enterprise. It is really a honey pot of gold!

Finding Enterprise Ideas

May 7th, 2012

Finding Enterprise ideas. Easier said than done! Coming up with a brilliant enterprise idea that can make enough money to achieve your goal…. and ones that you feel inspired enough about to keep you going when things get tough…………well, that’s a tall order for an adult, let alone a kid!

The trick is to spend some time brainstorming. What I explained to my entrepreneurial kids, was that they needed to think of all the problems that our small community town has, and then look for solutions!

By solving people’s problems you will create opportunities for enterprise. In the video (which you can view here), I gave the following example to my kids.

No body likes getting cold. Winter is drawing near and people are chopping wood ready to fuel their fires. They will need kindle to get their fires started.

Problem: No-one likes scrambling around outside on a cold and rainy day gathering kindle to get their fire started.

Solution: Collect bundles of gum tree sticks (they are full of fuel and burn easily), bundle them up and pile them in a wheelbarrow to sell to people who need the kindling.

So, step one was finding the problem, step two, the solution and step three would be putting it into action. What a great and simple enterprise idea.

So after giving this example, the kids had no trouble finding enterprise ideas.

Our mentor, Paul Counsel often shares a great educational basis behind what it means to be entrepreneurial.

He encourages us to consider how we are an asset to others. What skills and knowledge do we have that could be of service to others?What are we good at?

For example Kaitlin and Amber are very good with looking after toddlers and babies. Everyday they are helping with their baby sister Akaisha. They feed her, change her nappy (diaper, for our American readers!), bathe her and take her for walks. They are both very skilled and have an ease with babies. They know when Akaisha is tired and they know how to soothe her when she is upset. This skill could lend itself to any number of enterprise opportunities.

Reading with siblings

Looking after Akaisha

 

 

 

 

 

 

 

 

 

 

The obvious enterprise would be baby sitting, but other ideas include:

Homework Support – Busy parents may need someone to listen to their toddlers read, learn spelling words and with writing practice.

Toddler Playmate – After school parents would appreciate an older child entertaining and playing with their toddler or baby. This would be more so in families with only one child as that child may lack in playmates. So why not offer to be a paid playmate.

Walk Younger Children Home from School – Busy parents may appreciate a responsible older child walking their kids home from school.

Sports/Dance/Art Trainer – Amber and Kaitlin could teach other kids how to throw and catch  a ball, bat, bounce on a trampoline or kick a football. If not a sports trainer, what about Music or Dance Teacher, or Art Coach. Both Amber and Kaitlin are extremely good at art!

 

Kaitlin loves kids.

 

 

 

 

All it requires, when finding enterprise ideas for kids, is a little imagination. Take the time to identify problems and look at what assets you have that could help people. “Helping people” is the key to enterprise.

 

 

 

 

Budding young musician

A tip for everyone: You can increase your value by up-skilling and becoming an expert in an area. You then create excellent enterprise opportunities for yourself. The more you increase your skill, the more valuable you become and the more you will be sought after by people. As a result, people will pay well for your time and knowledge.

 

For example, being a whiz on sorting computer glitches would make you very valuable to people who have computer problems, or being an expert pianist would create opportunities to teach others how to play the piano.

Many of these ideas aren’t new, but people, especially children, don’t take the time to look at their existing skill set.

Finding enterprise ideas can be fun and it isn’t that hard if you do a little thinking and brainstorming first. Our next blog will be very exciting!

Amber will reveal her enterprise idea that she will be embarking on in her quest to reach her goals…..so stay tuned…..

enterpriseforkids.com

Inspiring kids to be entrepreneurial.