Super excited to have bookings open for a stunning line up of events at the moment, you can book here: https://pocketmoneymarket.com/market-stall-bookings-for-kids-from-3-to-16/
This month marked our second birthday and it feels like things are really picking up momentum. From very humble beginnings, one stall on the side of the road, we are now booking out for every market and being invited to fabulous venues. Many thanks to everyone who has supported us and specially to Forward Fund with whom I have signed and agreement and have now got and NPO number: NPO: 136-187
I have been working on some figures and am rather pleasantly surprised: I began my current format booking sheet on Feb this year and am on booking No 103, with about 80% of bookings being for multiple events, therefore 300-350 stalls, with 1 to 4 kids per stall. All the kids complete a detailed accounting sheet and the total net profit from these stalls is in the region of R55 000. Not too shabby since it was over the quiet winter months, and its kids from 4-16 trading for just 2 hours a time.
We have at least 6 markets a month for the summer season of different sizes but I anticipate that will translate into about 120 stalls a month for kids from 3-16. Profits vary with experience etc but average is about R180 (conservatively, some take over R800) so that’s a monthly total net profit of R21600 for all the traders combined. This summer season from Sept 16 to April 17 total profit to our Young Entrepreneur traders should be over R150 000…But the sky is the limit.
This represents a real income into the outreach households and many kids are also funding extra murals and sports tours, etc. Average trader age is 9-10 years old. I kind of think that deserves a “hell yeah!”
So this all happened after hours, in scraps of my “spare time”, and I am self funding. It is my absolute passion, but as it gets bigger and busier, I am finding it hard to keep up with my paid work and all this. I would desperately love to reduce some of my other work and do this properly. I truly believe there is value to a sponsor and I am thinking of around R5K per event…but naturally open to all offers and suggestions. As much as people keep telling me to charge more for the stalls and charge for the free workshops, I have a strong belief this would be wrong. There are many paid options out there and exclude those who really need it. The R50 stall fee is nominal and just there to teach the concept of overheads. I check the kids profit and reduce if needed to keep it below 20% of profit, all outreach and fundraising stalls are free and anyone can ask for a reduced fee or free stall…I just try to cover some prizes and certificates etc. The graph below clearly shows us why our kids need to be able to generate their own income, and I can go on for ever about the societal & knock on benefits of being able to work from home, etc too.
For more on the potential benefits of sponsorship and how we run please check out: https://pocketmoneymarket.com/see-how-it-runs-sponsors-wanted-size-doesnt-matter/
In addition we are seeing a number of unexpected benefits. We have children who are excluded from main stream education because of illness or disability and they are such and inspiration and a pleasure to have. They get a huge amount of value from the experience and our traders are wonderfully inclusive and its pretty social too. We have also seen massive improvements in children with learning disabilities, maths literacy and general confidence and social skills. When we participate in big events with professional traders our kids are really more professional than the pros and make me so very proud.
Our slogan is EARN, LEARN & HAVE FUN. At all times these 3 things must apply. I know we have a lot of fun, I know we learn a lot (The kids teach me more than I teach them, I think) but I had not quite realised how much earning has been happening too!
I received this endorsement from Clem Sunter:
“Dear Linda…You are doing exactly what I have been recommending for years. We have to prepare pupils for the job market of today in which most of them will have to be entrepreneurs. Best of luck in continuing your initiative.”
So I feels very much like we have reached critical mass now. Our second team begins in October as we begin multiple events this summer and I have been busy with Rotary and a far wider roll out is in planning.
I really, really need help with the following:
PR & Marketing: Getting events into What’s on in newspapers, magazines, radio and so forth as well as social media.
Graphic design for flyers and adverts
Admin: capturing accounting sheets, booking processing, online support
Website: We need a proper website with online sales platform for the kids to sell between events.
Photography and reporting: Preferably youngsters who would like to film, photograph and document our events.
Hands on assistance at events, especially with outreach traders.
Lucky draw prizes: When we have a lucky draw at events, each purchase gets you a ticket. this is a great mechanism to boost sales and the kids enjoy it as a selling tool and ice breaker.
Money or donations of prizes for our monthly awards days. I have to buy these out my own pocket and the kids really deserve better.
Mentorship and speakers to talk at workshops and/or for actual markets. Even if you do nothing officially, cone to a market and just interact with the traders and give them feedback.
Secret shoppers at events to help me pick winners and highlight areas of excellence or that need attention. The kids are sharp, my usuals are all getting known!
Computer: Ideally I need a decent computer like a Mac so I can do the ads and things, but am sort of managing with my old one. I need to give one of our traders who has offered to assist with the data capturing my old one though. Damian Wolf is a trader with cystic fibrosis and has offered to help with admin, but he has no computer and no internet.
I’d really like to get some money belts made specially for the traders sp that their cash is secure at events.
Petrol & car maintenance – the odd tank of juice would help a lot! Plus I rack up the k’s so my car needs a service.
Bus or van to transport kids, goods, signage, etc. My lil’ Hyundai works like a bakkie, but takes a bit of strain!
Proper sponsor: In a perfect world I’d love to give up some of my freelance work and do this properly for a change. The goodwill is massive and I have an online reach of around 60000 views a month, all organic and with very little input.Sponsorship could be per event, per month or annual or even just for one outreach stall startup expenses which is less than R500. I receive endless requests to take this to Gauteng and other provinces too.
The Pocket Money Market has two main aims: The primary objective is nurturing a spirit of entrepreneurship in young children with the long term goal that more South Africans will be able to sustain themselves independently and possibly in a more flexible lifestyle conducive to less commuting and more active parenting. The second objective is to bring real and immediate income generation to families where the means for the children to join the Pocket Money Market are simply not available, via the outreach program.
The support from the community has been amazing and I am humbled and grateful. Now it needs to catch the corporate eye and take it up a level.
Thanks and see you at the market,
PS Watch this space for our HOLIDAY CLUB launching soon too.