I knew that my 8-year-old son Darin had been selling rubber brand bracelets that he makes to kids at school. I didn't realize just how organized a thing he had going though until this weekend when he and my older son Alex got into negotiations for Alex to work for Darin's "shop" as a bookkeeper. They typed up ans signed a contract and everything! Apparently this discussion came about because Darin is paying some of his friends at school money to sell the bracelets for him. I'm so proud of my little entrepreneur!
Then things got more complicated when Darin told me -- after buying a Minecraft toy this weekend -- that he wants to sell this toy (not his -- he intends to buy another one and "sell it on ebay" to his friends). I explained to him that he wouldn't make very much money on this if he is buying the toy at retail and reselling it, that it would be better to find a wholesaler or dropshipper... but of course this is now getting into a more complicated area, one that I am not very familiar with.
I know there are some on this forum who make money from selling online. So my question for you guys is -- how would you advise Darin if he were your kid? I don't want to crush his entrepreneurial spirit, but I also know that setting up an online store is a lot of work and he may just not be up for it at this point in his life. Is there a simple way for a kid to get into business as a reseller, something with decent profit margins?
Appreciate any feedback you have!
Sara
Then things got more complicated when Darin told me -- after buying a Minecraft toy this weekend -- that he wants to sell this toy (not his -- he intends to buy another one and "sell it on ebay" to his friends). I explained to him that he wouldn't make very much money on this if he is buying the toy at retail and reselling it, that it would be better to find a wholesaler or dropshipper... but of course this is now getting into a more complicated area, one that I am not very familiar with.
I know there are some on this forum who make money from selling online. So my question for you guys is -- how would you advise Darin if he were your kid? I don't want to crush his entrepreneurial spirit, but I also know that setting up an online store is a lot of work and he may just not be up for it at this point in his life. Is there a simple way for a kid to get into business as a reseller, something with decent profit margins?
Appreciate any feedback you have!
Sara
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