DAYTONA BEACH — Do you think your child has the ability to one day invent a product worth patenting, or open a business that becomes a Fortune 500 company?
Even if your little one just likes to sell Kool-Aid and homemade cookies on the front lawn, there’s an opportunity for them this weekend to get a taste of what it’s like to run their own business.
The Downtown Daytona Beach Children’s Business Fair will allow kids to showcase their entrepreneurial genius for a day. From 8 a.m. to 1 p.m. Saturday, they can claim a spot at the weekly Downtown Farmers’ Market on Magnolia Avenue just west of Beach Street.
The first annual fair for pint-sized businesspeople is open to anyone age 5-15 who wants to take part.
Read more about Daytona Beach’s Saturday farmer’s market:Daytona Beach’s downtown farmers’ market is moving to Magnolia Avenue
Children can create a product or service, develop a brand, build a marketing strategy, and then open for customers at the one-day marketplace. The children and their families are responsible for the setup, sales and interaction with customers.
“The idea is to take them through the whole entrepreneurial experience, from concept to product development, marketing and then sales,” said Jack White, a local developer who lives and owns property in downtown Daytona Beach. “From there they assess the cost of what it took to create, market and sell and then determine if they were able to make a profit. The children with the help of their parent or guardian assess what they learned; what worked and what they could tweak to make it better next time. It’s an iterative process and the more it occurs the more they learn, which is why this needs to happen on a regular basis.”
White said his three 6-year-old daughters, who are triplets, will have their own booth.
“When my wife and I were wanting to teach the girls financial literacy, we decided how much more enjoyable it would be to make this a broader effort and invite other families to participate,” he said. “We chose the downtown farmers market because it was the perfect place for small businesses.”
Families will be given a 10-foot by 10-foot space at the market, and they’ll have to bring their own tent and tables. There won’t be any electric power connection provided.
The entry fee is $10 and that goes directly to the farmers market, White said.
“Today’s youth are tomorrow’s business innovators and leaders,” said Jeff Sandefer, one of the sponsors of the fair and founder of the Acton School of Business. “The Children’s Business Fair gives students the opportunity to spread their entrepreneurial wings and get a head start on promising business careers.”
For more information, contact White at [email protected] or 386-257-5105.
You can reach Eileen at [email protected]