Hi, my name is Theo. I want to start a fairy floss business. I’ve done a business plan but my mum called the insurance people and they said that they don’t give 10-year-olds insurance. I’m really disappointed. So I was wondering, is there another way to do it?
Thank you, Theo
Hey Theo
Mate, you are amaze-balls. The fact that you’ve gone to the trouble of writing out a business plan shows me how keen you are.
So here’s your first lesson in business: as an entrepreneur you’re going to run up against lots of people (like old squirrel nuts from the insurance company) who will tell you ‘no’ and explain all the reasons why something can’t be done. (It’s not their fault – these people really need some of your fairy floss, but all they have is the bamboo skewer up their behinds).
So here’s my advice:
Don’t listen to them. There is always a way.
In fact, let me give you three ways:
First, you could partner with an adult – like your mum! The business and insurance could be in her name, and you can still be the brains behind it all.
Second, you could partner with an existing business and sell your fairy floss at a local sweet shop, corner store, cafe, or online store.
Finally, you could sell your fairy floss at events – like school fetes, fundraisers or farmers markets – where the organisers already have their own insurance.
Or better yet, try all three!
I’ve got a good feeling about you, Theo.
Now unfortunately I’m trying to keep my blood sugars down (yes, I’m old), but my four little kids would totally inhale your fairy floss. So, last night at dinner, as they dutifully chewed their broccoli and chicken, they all unanimously agreed:
“We’d LOVE to be your first customers.”
Talk soon, Scott