By Bonnie Drew
Daniel White is a young entrepreneur who knows exactly what to do when he spots a money-making opportunity. When he was eight years old, he went to soccer practice with his older brother and noticed there was no place thirsty players or parents could buy cold drinks. So Daniel opened a small lemonade stand and began making money.
Earning $10 or $15 selling drinks was okay, but Daniel believed he could do more with this opportunity. He began thinking about other products kids and moms would buy. When Daniel was a child, he had a favorite chair that was just his size. The frame was constructed with white PVC pipe. The back and set were a colorful canvas fabric. Daniel knew PVC pipe was a common plumbing supply available at local hardware stores. He had an idea that moms at soccer practice would like children's chairs.
Using his old chair as a pattern, Daniel constructed three samples. The next week, Daniel placed the chairs in front of his drink stand and watched to see what happened. The moms loved the chairs. Before practice was over, Daniel had sold his samples and taken orders for five more.
Since that time, Daniel has sold hundreds of DEWIE Chairs for Children at daycare centers, craft shows, and gift shops. To keep up with demand, Daniel orders PVC pipe by the pallet, which is enough to fill the family van from top to bottom. He has a small workshop at his home in Kingwood (TX). His chairs are available in three sizes and can be ordered completely assembled or unassembled and gift-boxed for shipping.
Daniel's cost for each chair is $4 to $5. He sells the chairs wholesale for $15 each and retail for $20 to $25 each. It is not unusual for Daniel to sell 100 chairs in a weekend craft show. Daniel's Texas A&M "Aggie" chairs and University of Texas "Longhorn" chairs are popular souvenirs in many Texas gift shops.
DEWIE stands for Daniel E. White Investments & Enterprises, a corporation Daniel formed to handle his business interests. With his profits, Daniel has also built a stock portfolio worth more than $15,000 and purchased 10 head of cattle.
What does Daniel say about his success?
"A lot of kids hear about my business and tell me I'm really lucky," he says. "But I'm not lucky. No one handed me a checking account, a stock portfolio, a bunch of customers or a business card that says, 'owner.'"
"I built it from scratch. And if I can do it, other kids can, too."
And yes, that means YOU!
Bonnie Drew is the author of FAST CASH FOR KIDS (2nd edition), published by Career Press (1-800-227-3371). She is also the creator of the KIDS BUSINESS software for young entrepreneurs, available from Homeland Publications (713-332-9764).
Drew is also Editor of Young Entrepreneur magazine, published by Kid's Way, Inc., a company that helps youth prepare for business and the workplace of the 21st century. For more information, write to Kid's Way at 5589 Peachtree Rd, Chamblee, GA 30341 or call toll free 1-888-KidsWay (1-888-543-7929).
|
|
|
|
|
|
