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My Son Wants to Start A Business - Help Me Please (1 Viewer)
- Thread starter ChiefD
- Start date
El Floppo
Footballguy
If a catcherman poops in the woods...I see no shovels
Looks great, Chief!
Couple things...
Fwiw- At the bottom of the images of lures, theres a link that says "check out your next lure". I think. On my android phone, it cuts off at the "L" on lure.
Fyi, be very careful working with epoxy. The stuff is toxic and should only be worked on in a very well ventilated space, ideally wearing gloves, goggles amd with a respirator.
El Floppo
Footballguy
@ned sister's potato salad ??ChiefD said:Thanks @Ned!
The first official order. You should have seen his smile when that came through. Your lures will be on their way soon.
Hi @ChiefDSo my 13 year old son is turning into quite the entrepreneur. He mows lawns now to make some money, and we also opened up a trading account for him on Schwab.
As a hobby for the last few years, he also makes fishing lures. Every year when we go on our family vacation to Minnesota we have a family fishing tournament. It's a reunion every year, so we have anywhere from 20-30 family members show up each year. So we make a new lure for each family member every year. Everyone throws $2 in the pot and the biggest fish during the tournament takes the pot.
Anyway, we have made spinners, bucktails, hand carved floating baits, larger spinners, spoons, etc. Usually we buy the materials online and assemble them.
So now he wants to start a website to try and sell some of his lures. We have no illusions about making a ton of dough here - to me it's more the practice of having an idea, write down a business plan, research the costs, and then price an item for market. So basically if he wants to have this entrepreneurial spirit, I will help feed that desire.
So building the website is the easy part - I have some experience in this area and plenty of programmers I can tap into if necessary. It's the financial part that I need help with.
I can certainly set up the website for e-commerce - there are options available for that. My main question is HOW to set him up as a business.
Do we just use his (or my) social security number, or is it better to have a federal tax ID number? I'm guessing yes, but I really have no idea.
Any ideas or guidance would be helpful. Shtick welcome also.
Saw this story today and thought it might be of interest. https://techcrunch.com/2021/07/02/meet-mighty-an-online-platform-where-kid-ceos-run-their-own-storefronts-a-digital-lemonade-stand/
G
Guest
Guest
Hey Shtick hope you doing well.....
I have worked in the last twenty-some years of my career in different sales and management at international enterprises. I developed international sales for data center solutions, and often had to tackle critical business situations, so my business experience helps me to be a better negotiator, communicator and ultimately a better business coach.i will definitely help your son to build up a secure earning business with low loss rate. for the sake of guidance you can join our coaching online
Ned
Footballguy
We got our Corbinator shipment. Ordered a spinner and a spoon. Zack is very particular about his lures. His comments:Thanks @Ned!
The first official order. You should have seen his smile when that came through. Your lures will be on their way soon.
Painting is perfect
cool way you attached the skirt to the spinner
hooks are super sharp!
Looking forward to catching some bass with these! I’ll post pics on his FB.
ChiefD
Footballguy
Well, it's been a little over a year since he launched, and still going strong. He has sold quite a few lures - more than enough to cover his start up costs and ongoing website costs. Any more sales pretty much goes into buying new inventory for now.
He also sold some to the fishing resort where we go in Minnesota for their shop, and they've since re-ordered and are selling to customers. He also launched crankbaits in the fall, so they are ready to go. If anyone is so inclined, check 'em out here:
https://www.corbinatorbaitcompany.com/product-page/squarebill-crankbait
And if anyone can hit his Facebook page and "Like" it that would be great. Appreciate your support.
He also sold some to the fishing resort where we go in Minnesota for their shop, and they've since re-ordered and are selling to customers. He also launched crankbaits in the fall, so they are ready to go. If anyone is so inclined, check 'em out here:
https://www.corbinatorbaitcompany.com/product-page/squarebill-crankbait
And if anyone can hit his Facebook page and "Like" it that would be great. Appreciate your support.
Great story. Your son's business experience at an early age is priceless. Plus the father-son connection.
That's a nice bass caught in Florida on the FB page. The lures remind me that my grand daddy had some home-made top water plugs that were made of wood. A friend of his made them.
That's a nice bass caught in Florida on the FB page. The lures remind me that my grand daddy had some home-made top water plugs that were made of wood. A friend of his made them.
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