Jack's Stand Pitch - Shark Tank

ABC

10 Nov 201601:35

Summary

TLDRMeet Jackie, a 10-year-old entrepreneur from Denver, Colorado, who turned his desire for a $400 Lego set into a thriving business venture. With the support of his father, Jackie launched Jack Stands and Marketplaces, a platform that empowers kids to learn about entrepreneurship, financial literacy, and business while having fun and making money. Offering a chance to sell lemonade and other products, Jackie's marketplaces inspire young entrepreneurs to share their stories and ignite a passion for business in others. Jackie seeks $50,000 for 10% of his company to expand his mission of inspiring the nation's youth through entrepreneurship.

Takeaways

👦 The presenter is a young entrepreneur named Jackie, who is accompanied by his father and seeks investment for his business.
🍋 Jackie started his entrepreneurial journey by setting up a lemonade stand at the age of 8 to afford a $400 Lego set.
🏆 After 12 weeks of running the lemonade stand, Jackie made $900 after expenses, showcasing his early success in entrepreneurship.
💡 The experience of running the lemonade stand inspired Jackie to create 'Jack Stands and Marketplaces', a platform for kids to learn about entrepreneurship.
📚 'Jack Stands and Marketplaces' aims to provide opportunities for kids and families to learn about entrepreneurship, business, and financial literacy in a fun way.
🛍 The company offers a platform for kids to sell lemonade and other drinks, expanding beyond the traditional lemonade stand concept.
🔑 Jackie's marketplace is designed to give young entrepreneurs the chance to sell their products in authentic market settings.
📖 The platform also tells the inspirational stories of these young entrepreneurs, adding a motivational aspect to the business model.
💼 Jackie is seeking an investment of $50,000 for a 10% stake in his company, indicating the valuation and his expectations from the investors.
🤝 The presentation poses a challenge and question to the investors, asking who wants to make money while inspiring the nation's youth through entrepreneurship.
📍 The business is based in Denver, Colorado, providing a geographical context for the venture.

Q & A

Who is presenting the business idea in the script?
-A 10-year-old kid entrepreneur named Jackie, along with his father Stephen, is presenting the business idea.
What is the name of the business Jackie is presenting?
-The business is called 'Jack Stands and Marketplaces.'
Where is Jackie from?
-Jackie is from Denver, Colorado.
What is the financial ask from the sharks?
-Jackie is seeking $50,000 in exchange for 10% of his company.
What inspired Jackie to start his entrepreneurial journey?
-Jackie was inspired to start his entrepreneurial journey when he wanted a $400 Lego set and decided to earn the money himself by setting up a lemonade stand.
How much money did Jackie make from his lemonade stand after 12 weeks?
-Jackie made $900 after expenses from his lemonade stand.
What valuable lessons did Jackie learn from his lemonade stand experience?
-The script does not specify the exact lessons Jackie learned, but it implies that he learned about entrepreneurship, business, and financial literacy.
What does 'Jack Stands and Marketplaces' provide to kids and their families?
-Jack Stands and Marketplaces provides opportunities for kids and their families to learn about entrepreneurship, business, and financial literacy in a fun way while making some money.
What products do the kids get to sell through Jack's marketplace?
-The kids get to sell lemonade and other drinks, as well as their own products in authentic and great marketplaces.
What is the main challenge and question Jackie poses to the sharks?
-Jackie's main challenge and question to the sharks is who wants to make money while inspiring the nation's youth through entrepreneurship.
What was the outcome of Jackie's initial lemonade stand venture?
-Jackie was able to earn enough money to buy his desired Lego Death Star set.

Outlines

00:00

🚀 Young Entrepreneur Launches Jack Stands and Marketplaces

The script introduces a 10-year-old entrepreneur named Jackie, who, inspired by the desire to own a Lego set at age 8, started a lemonade stand and made $900 after 12 weeks. This experience led Jackie to create 'Jack Stands and Marketplaces,' a platform designed to educate and engage kids and families in entrepreneurship, business, and financial literacy through fun and profit-making activities. The company offers opportunities for children to sell lemonade and other beverages, as well as to showcase their products in marketplaces, with the goal of inspiring young entrepreneurs and telling their stories.

Mindmap

Keywords

💡entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. In the video, the term refers to the young Jackie and other kids who are inspired to start their own ventures, showcasing their innovative spirit and business acumen.

💡lemonade stand

A lemonade stand is a small, often informal business where lemonade is sold, typically by children during the summer. In the script, Jackie's lemonade stand is the origin of his entrepreneurial journey, where he made $900 after 12 weeks, which is a pivotal moment that led to the creation of his company.

💡financial literacy

Financial literacy refers to the knowledge and understanding of financial concepts, such as budgeting, saving, investing, and managing debt. In the video, Jackie's company aims to provide kids and their families with opportunities to learn about entrepreneurship and financial literacy, emphasizing the importance of these skills from a young age.

💡Jack's marketplaces

Jack's marketplaces is the name of the company created by Jackie, which offers a platform for young entrepreneurs to sell their products. It represents a space where kids can apply their entrepreneurial skills in a real-world context, selling more than just lemonade and learning valuable business lessons.

💡investment

In the context of the video, investment refers to the capital provided by the 'sharks' in exchange for a percentage of Jackie's company. Jackie is seeking $50,000 for 10% of his company, which illustrates the concept of venture capital and the negotiation process involved in such deals.

💡

💡inspirational stories

Inspirational stories are narratives that motivate and encourage others, often by sharing personal experiences and achievements. In the video, Jackie aims to tell the stories of young entrepreneurs, using their success as a means to inspire others and promote the value of entrepreneurship.

💡opportunity

Opportunity, in this context, refers to the chance or possibility of doing something or experiencing something. Jackie's company provides opportunities for kids to learn about entrepreneurship and business, offering them a platform to sell their products and gain experience.

💡entrepreneurial aspirations

Entrepreneurial aspirations are the ambitions or goals related to starting and running a business. The video's theme revolves around helping kids fulfill their entrepreneurial aspirations by providing them with the tools and experiences necessary to succeed in business.

💡authentic marketplaces

Authentic marketplaces are real-world environments where goods and services are bought and sold. In the script, Jack's marketplaces provide young entrepreneurs with the opportunity to sell their products in authentic marketplaces, offering them a genuine business experience.

💡aspirations

Aspirations are strong desires or ambitions to achieve something. In the video, Jackie's aspirations are to help other kids achieve their entrepreneurial dreams, and his company is a means to that end.

💡business

Business, in this context, refers to the activities involved in making, buying, and selling goods or providing a service. The video's main theme is about teaching kids the fundamentals of business through hands-on entrepreneurial experiences.

Highlights

10-year-old entrepreneur Jackie introduces Jack Stands and Marketplaces from Denver, Colorado

Seeking $50,000 in exchange for 10% equity in the company

Jackie's inspiration to start a lemonade stand at age 8 to afford a $400 Lego set

Making $900 after 12 weeks running the lemonade stand

Learning valuable lessons from the lemonade stand experience

Jack Stands offers kids the opportunity to sell lemonade and other drinks

Jack's Marketplaces provides a platform for young entrepreneurs to sell their products

The company aims to teach kids about entrepreneurship, business, and financial literacy

Jack's Marketplaces allows kids to have fun while making money

The platform encourages kids to share inspirational stories of their entrepreneurial journeys

Jackie's father supports the venture and appears on the show as well

The business model focuses on providing everything needed except the kids' motivation

Highlighting the importance of instilling a strong work ethic in young entrepreneurs

The Sharks are challenged to consider investing in a business that inspires the nation's youth

Jackie's confidence and determination despite his young age

The innovative approach of combining fun with learning about entrepreneurship

The potential for Jack Stands and Marketplaces to scale and impact more kids across the country