Long gone are the days where child entrepreneurs were confined to the business of lemonade stands or garage sales. Now with Franchild, a business that helps children learn entrepreneurial concepts, follow a business model, and manage their own company in a professional way that is suitable for a child!
Proving that there is no age minimum for entrepreneurialism, Franchild helps children of all ages start their own business. To get started, the initial investment is $25, which can be seen as franchisee startup dues which can be provided by the young entrepreneur's parent should be submitted to Franchild along with a completed application form. Once the child entrepreneur has been welcomed aboard, they can then choose the type of business model they would like to work with; choices include Candle Biz, Spice Biz, Soap Biz, Coffee Biz, Jewelry Biz or Apparel Biz and order their inventory. Many of Franchild's products are ready-made and ready for sale to consumers, while others are provided in a kit that allows that child to incorporate an element of customization into their business model.
Suggested retail prices for each of the products under every business model are provided by Franchild, but since part of their mission is to help children learn about business, the young business owners can set their own prices as they deem appropriate to carry their overhead costs and bring in a profit. Children can sell their unique products in any way they choose, but to facilitate the process, Franchild helps them by creating professional business cards and marketing materials to establish the businesses reputation and image.
With franchise style business opportunities available for today's budding entrepreneurs, the lemonade stands of the past seem like child's play.