The Youngest Entrepreneurs In Australia?
Sydney Morning Herald:
You can never be too young to start learning the principles of entrepreneurship. That’s certainly what parent Cameron Reilly thinks. When one of his twin boys, Taylor, fell in love with an iMac computer he also realised how long it would take to save up his $7-a-week pocket money to buy one. To accelerate the process, Taylor thought he would be able to raise more money starting a business. His brother, Hunter, was also excited about the prospect.
That was about a month ago. Since then, Kids Candle Company – a business making and selling beeswax candles – has taken shape. Their Dad has helped them create a business plan. “I just outlined the structure and left all the bits blank for them to research themselves,” says Reilly. “They had to do market research on the price of candles and where they can sell them.”
Plans for growth
Currently, the boys sell online but plan to also sell at their local markets. They also made the decision to give 25 per cent of profit to charity, 25 per cent back into the business and they will split the other 50 per cent among themselves.
Like many other start-ups, they have a blog, where they have written simple posts like “What I have learnt about business”, “Making our first batch of candles”, and “How to be doing well”. Read full article.
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Great story. Congrats to the kids. They are going to be serial entrepreneurs. Watch out Larry and Serge. The kids might want to read The Answer, by John Assaraf and Murray Smith, to help them build their business.