From Playground to Profits
Issac Azevedo
06/09/23
Greetings readers
In the delightful world of candy, starting and nurturing a candy-selling business can offer a young entrepreneur a treasure trove of valuable life lessons. These experiences become stepping stones, imparting crucial skills like entrepreneurship, money management, communication, and the art of responsibility.
Let me whisk you back to the enchanting year of 1983. Picture a determined 3rd grader, that was me! I decided that school just couldn’t hold me back from my candy cravings any longer. So, I embarked on a grand adventure through our neighborhood and eventually found myself face-to-face with a bustling, four-lane divided road. Without hesitation, I crossed that road, and I made it back to school triumphant, clutching five precious packs of Now and Later candies. My initial investment of just one dollar transformed into a magical five dollars. That day, I discovered the enchantment of commerce, and I was forever hooked.
Of course, back then, I wasn’t exactly a business prodigy, but I did learn one vital lesson—risking my life daily for candy wasn’t the wisest inventory sourcing strategy! With that in mind, let me share six invaluable tips that I wish someone had shared with me. These gems of wisdom, I now pass on to you, so you can guide and inspire the young entrepreneurs in your life.
Nurture their Spark of Passion
Celebrate and wholeheartedly support the child’s budding entrepreneurial spirit. Help them grasp the beauty of hard work and unwavering determination.
Research and Thoughtful Planning
Encourage the child to embark on a journey of exploration. Together, dive deep into researching candy varieties, pricing dynamics, and the preferences of their target customers. Collaboratively craft a business plan adorned with lofty goals and ingenious marketing strategies.
Money Matters and Budgeting Wisdom
Extend your wisdom to the child, teaching them the art of financial planning. Guide them in determining a budget for candies, packaging materials, and supplies. Dive into the domains of profit and loss, illuminating the path to financial acumen.
Crafting a Selling Strategy
Engage in discussions about different selling approaches—will they knock on doors or explore the domains of online platforms? Instill in them the importance of marketing prowess and the magic of exceptional customer service.
The Sweet Symphony of Pricing and Profit Margins
Unfold the secrets of pricing to the child. Explore the delicate dance between cost, competition, and perceived value. Together, calculate those enchanting profit margins and encourage reinvestment for growth.
Embrace Resilience as Your Ally
Teach the child the art of resilience, showcasing how failures are stepping stones to success. Inspire them to persevere, stay positive, and gracefully adapt when challenges come their way.
And here’s the golden rule to remember throughout this enchanting journey: while your guidance and support are essential, don’t forget to grant the child the freedom to make their own decisions and learn from their experiences. In doing so, you’ll be nurturing their independence, preparing them for a future brimming with entrepreneurial adventures, and creating bonds that will forever cherish the magic of candy and commerce.
