June 29, 2012
Young Entrepreneurs Open for Business
Eleven students, creating eight separate businesses, were part of the inaugural Young Entrepreneurs Academy in Elkhart. These new businesses include everything from selling homemade dog treats to designing hair styles for weddings and proms to teaching modern dance classes to recycling used soap from hotels into new bars of marketable soap.
Dr. John Hill, chairman of the Education Council for the Greater Elkhart Chamber of Commerce and director of curriculum and instruction for Elkhart Community Schools, said the first year of the Chamber- and ECS-sponsored YEA went extremely well.
The idea to start a YEA chapter in Elkhart was introduced by a Central High School student and eagerly accepted by the Chamber as a perfect fit for Elkhart, which boasts a large number of start-up companies.
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Local entrepreneurs and business owners donated their time to teach classes and mentor the student entrepreneurs. They also donated seed money to help students get their businesses up and running.
These volunteers walked students step by step through the process of starting their own business, from creating a business plan, to seeking investors to help fund their start-up costs, to filing the paperwork to comply with state and federal business laws.
Hill stressed it was the willingness of community volunteers to share their experiences and business acumen with the students that made the program so successful. He said volunteers like Patsy Boehler, who created and founded ETHOS, and Amish Shah, owner and CEO of KemKrest and the businessman responsible for bringing Lemonade Day to Elkhart, provided invaluable insight to the student entrepreneurs.
Fifteen Central and Memorial high school students applied, interviewed and were accepted into the inaugural Elkhart YEA. Eleven students finished the program, with three of them teaming up to launch Inspire, a business that teaches hip hop and other modern dances, and two joining forces to launch SUDS: sustainable use & distribution of soap.
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Yea students held a Trade Show at the Concord Mall to introduce their new businesses. Christian Sarber and Ty Strock, are the creators of SUDS, which recycles used soap from hotels into new, marketable soap bars
| The remaining six businesses include Alli's Barkery; J.P. Fruit Smoothies; Nikkitori, which sells customized t-shirts; Salma Hair Design; Tashara to the Rescue, a last minute babysitting service; and Peak Leather Designs, which manufactures and sells leather bracelets customized with local school logos.
The student entrepreneurs participated in two events to promote their new businesses. The first was an investor panel where students presented their business plans to a panel of Chamber investors. Funds were distributed to the students based on the quality of their business plans and presentations. Rather than a true investment, the funds were awarded as gifts.
At this panel, the investors also chose a business to represent Elkhart at the national YEA competition in Rochester, New York, in May. Central High School student Christian Peak won the all-expense-paid trip to the contest, where he competed with approximately 30 students from across the nation for a $30,000 college scholarship.
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Christian Peak sells some of his handmade leather bracelets
at the YEA Trade Show held at Concord Mall
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The Elkhart students also hosted a Trade Show at Concord Mall May 23 where they were able to introduce their businesses to the public.
"Each of the businesses was in the true spirit of Elkhart," Hill said. "It was something an individual or group was passionate about and really wanted to do."
He pointed out that some of the new businesses ended up being exactly what the student initially proposed, while several of them were completely different. "Not every good idea will result in a business," Hill pointed out. "The students see this as they begin working on their business plans.
"That's where the mentors come in," Hill continued. "They can help the student refine or redesign their idea, help them see if it can function as a profitable business."
Christian was one of the students who scrapped his initial plan, which he didn't have any experience with. "I found out there were a lot of restrictions with my first idea," Christian said. “It wasn't really something I could do on my own." |
So he proceeded to his second idea, one he had some familiarity with, making leather bracelets. Working with leather had been Christian's hobby for several years.
After obtaining the proper legal authorization from the school district's legal attorney, Christian began creating and selling bracelets with Central's Blazer and Memorial's Charger etched onto them.
He is now working with other school districts to obtain permission to recreate their school mascots. In addition, Peak Leather Design can customize the purchaser's designs onto the bracelets.
Christian said he created his business plan after doing a lot research on the Internet. His start-up costs for the company included purchasing a branding iron and stamps of his initial designs.
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"It's a lot of work starting from ground zero and working your way up," he stated. In his initial attempt, Christian was able to produce 20 bracelets in 3 hours. The production time is much faster now that he has the process down pat.
As of mid-May, Christian had sold a number of mascot bracelets to Central and Memorial students. "As soon as I get my DBA paperwork filed, I'll begin marketing and advertising my products," Christian reported. “Right now, it's all word of mouth."
His marketing campaign will include designing a new logo for his company, creating a business page on FaceBook, and advertising in area school newspapers and magazines.
“I'm also getting a lot of stock together for the big Central/Memorial football game in August," Christian announced.
He is working for the Elkhart Parks Department this summer and plans to use his earnings to purchase additional supplies for his business. He wants to have at least 100 bracelets available for each Elkhart high school by the time school opens in mid-August.
Christian said he couldn’t have begun his business without the support of YEA, which taught him valuable lessons on the realities of the business world. "I've been interested in business for several years and have always been one to talk about how I would do things differently," he stated. |
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Salma Gonzalez created a business that provides updos
and other fancy hairstyles for proms and weddings |
"I'd say, 'If this were my company, I'd do this,'" he explained. "I've always had a lot of ideas for business products. But I never really thought I would be a business owner."
Christian said the students talked to a lot of business people in the community and visited a lot of local companies to learn how to run a company. “We received a lot of support for what we are doing," he stated.
"I feel like I have people backing me," he continued. "Business owners have encouraged me to call or e-mail them if I have any questions. They're happy to help us. They want us to be successful."
Tashara Porter's business provides last minute babysitters to
harried parents |
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Christian would like to see his company take off this next school year and then use his profits to help pay his way to college. He'd like to eventually expand his product line to include coasters, belts, and other items, maybe even those of his college mascot.
"The sky's the limit in leather," Christian said. "I'd like to get trained to make leather bags. There is a big market for them."
Christian described the national competition as a once-in-a-lifetime experience. "I have met all these neat people and made some personal connections that will help me get my business going," he said. “A student from Texas is going to help design my new logo."
Christian said YEA was a great experience and encourages other Central and Memorial students with an interest in business to take part during the upcoming school year. "Just do it," he said. "You probably already have an idea you've been thinking about. Go for it and make your idea a reality. Don't look back at your life with regrets and wonder what could have happened.
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"Having your own company really boosts you up," Christian continued. "Whenever you can put CEO or president under your name, it gives you a lot of confidence."
But Christian warned it takes more than a fancy signature to be successful. "You have to really believe in yourself and what you're doing. You have to buy into it yourself to get all the rewards you can," he stated. "It's a great feeling. It's hard to put it into words."
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Hill noted he's excited to see how far the young students take their businesses during the next school year. “It was an excellent beginning," he said of the YEA's first year. "The students learned a great deal. It was amazing to see the progress they made from their first class to the trade show.
He said starting his own business has made him a better student as he's had to become adept at time management, something he wasn't very good at before. He added being in YEA has also helped him improve his communication skills.
"We're looking forward to year two," he continued. "We're expanding the program to include two more high schools, Concord and Jimtown. We believe that more appropriately reflects the Chamber's 'greater Elkhart' market area."
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The first YEA members present their business plans to a panel of investors | For more information on next year's YEA, log on www.elkhart.org. To download a YEA application click here.
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