Lots of aspiring entrepreneurs come in pint size packages. Children have ideas about building a better mousetrap, and as adults, we have a tendency to pat them on the head and remark about the cleverness of their idea. What would happen if you explored that idea with your child?
Here’s what one family of four did as a summer project. Their 9 year old daughter had made a portable herb garden out of recycled materials for her end-of-year 4th grade Science project. Her Mom saw a good deal of potential in the project. She knew that kids are great at cut and paste, so with a little extra training, they could be taught to assemble. They began by recycling 16 ounce green tinted plastic soda bottles. They then purchased a $25 bottle cutting tool from a large online retailer.
Next, they invested in old barn boards that they purchased for a song from a local online yard sale. They purchased herb seeds and potting soil and took a box of Dixie cups and began their herb plantings. Dad did the cutting of the plastic bottles as well as cutting the barn wood in appropriate size pieces. The two youngsters were in charge of the planting, marking, and care of the herbs in the Dixie cups. Mom then sanded the backs of the boards, added a hanger, and attached the cut bottles in a decorative fashion onto the boards. When the plants were at a healthy size, Mom and the kids replanted them into the bottles on the boards. They went to their local Farmer’s Market on Saturday and sold out that day. They were now in the portable herb garden business. Customers went crazy for the idea of hanging this rustic barn wood on their back porch, and having an herb garden all ready to go.
Mom kept track of the time invested, as well as the material costs. The four of them had 68 hours into the project, including their day at the Farmers Market. Their material costs were $89, including the cutting tool. That day they sold the 50 portable herb planters that they brought to Market, at an average price of $18 each or a gross profit of $900. With a net profit of $811, it was as if each of them made $12 an hour for their efforts. Now imagine how the ideas started flowing as they headed home that evening. How could they expand this concept? They say the children had the best ideas, and were so invested in the project it was hard to get them to focus on their schoolwork again, come fall.
When considering what business you want to develop, don’t just consider how much time it will take away from your family, but more importantly consider how you can engage the family in the process. The learning experience will only be exceeded by the strengthening of family ties as you take on the new challenges together. Your children will also begin to develop the skills to be the leaders of tomorrow.
Our Chamber is proud to annually host the “Youth Leadership Union”, whose mission is to develop the knowledge and leadership skills of young people in our County so they may confidently become our leaders of tomorrow. For more information about this program, visit our website.