Youth Day report & holiday dates

 

aug

Just a quick report back today:

We had a lovely Youth Day market at Imhoff Farm on 16 June, many thanks to Imhoff for having us at their delightful venue. The weather played along too thank goodness!

We had 20 stalls and 26 official traders although some “visitors” also joined the fun. The youngest trader was just 4 years old and the oldest 16. I thought the atmosphere was great and I was really pleased to see such good presentation and also lots of refinements by those who have attended workshops.

As always picking a winner is the toughest part of the day, everyone was so fantastic. Congratulations to Kaira and Stella of Cupcakes, Critters & Crafts who won Entrepreneurs of the Day. Their advert was lovely, they sold very well (in fact sold out) and had a fantastic attitude too. They also handled a couple of mishaps with aplomb and all the “secret shoppers” were very complimentary. Highest earner was Robert’s Organic Plants (by a long way!), followed by Hannah’s creations with Kaya and the Soap Cellar joint third. Well done! I am very pleased to see the detailed costings and improvements from the regular traders. On that note some sheets were incomplete or poorly done, they will not be accepted like that again so please take note!

Special mentions to the Soap Cellar for outstanding products, costings and a fabulous stall. Also to Colour Me Crazy for excellent presentation and Hanna’s creations for lovely original products.

For those wanting figures, one trader had a net profit of over R500, 6 traders had a net profit over R300 and another 5 over R200. Considering this is after costs and the kids are between 4 and 16 I think this is pretty good! I am available on skype or you can come and visit if you need some help getting there…this is a safe space to try out all the ideas.

I will do the other awards in the holidays instead of month end this time…I am looking at 13 July (see below). I need some time to study the sheets and think things over  to do the awards in more detail, market days are getting pretty hectic.

If there is enough interest I will do a workshop in the holidays on Wed 13 July from 2 to 4pm with awards after. We should be all done by 4:30 but the kids generally like to socialize a bit and weather permitting I’ll organize a fun activity again. I am flexible with dates but can only do afternoons and evenings so feel free to get in touch if you have an alternative suggestion. Remember workshops are free for traders and any group of 5 or more can initiate one.

IMG_20160616_115339

The winner of the LUCKY DRAW was Enid Pemberton. Congratulations Enid, I have mailed your four tickets to Snow World to you, enjoy and thank you for supporting the Pocket Money Market! The lucky draw was a great selling tool for the kids and as each sale = a ticket I think it really boosted sales. If anyone has connections for another prize that would be awesome…even if a company wants to sponsor  something smaller like movie tickets or a voucher…anything would be most appreciated!

Below are some snaps of our traders…in no particular order….Apologies I was a bit busy so didn’t take many pics and I missed a couple. Please send me your photos! Or better still I am hoping for  a young photographer (Hannah?) and a young reporter too. I could really use some help on market days too if anyone is keen, plus admin and PR too.

IMG_20160616_122555
Soap Cellar

 

IMG_20160616_122632
Kaya: Stick a frame, Twiggit, Scratch n win
IMG_20160616_115727
Save the Rhino

 

IMG_20160616_115727
Save the Rhino
IMG_20160616_115525
Color Me Crazy

 

 

IMG_20160616_122213.jpg
Cupcakes, Critters and Crafts

 

 

IMG_20160616_122402
Funky Dunky Danika

 

 

IMG_20160616_122107.jpg
Kidz Zone
IMG_20160616_122026
O’STEEZ
IMG_20160616_121847.jpg
Natural Nature & Molly’s Magic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IMG_20160616_122608
Wishmakers

 

IMG_20160616_121914.jpg
Robert’s Plants
IMG_20160616_122256.jpg
Cook n Craft

 

 

IMG_20160616_115508
Sweet Pop

 

IMG_20160616_120101
Monsters at Work

 

IMG_20160616_115807
Hannah’s Creations

 

 

 

 

 

 

 

 

 

IMG_20160616_121827
Request a Beanie and Sydney’s Gifts

Here is also a link to the ads the kids have to send in before the market…and while you are there please give our Facebook page a like & share: https://www.facebook.com/PocketMoneyMarketSA/photos/?tab=album&album_id=1737537636462042

Many thanks to Nikki Mountified for her hard work as well as Leigh Palmer for coming to my rescue when I could not fit the tables in my car! My continued thanks to Rotary for supporting the market, I saw a number of their members shopping and to SNOW WORLD for their fabulous prize worth R480!

We were also lucky to have a visit from Kieno Kammies of Cape Talk and they have given us some lovely encouragement. Here is an old article someone sent me that I was not aware of:

http://www.capetalk.co.za/articles/13512/your-child-can-become-an-entrepreneur-at-a-young-age-find-out-how

IMG_20160616_115339IMG_2271

 

 

 

 

 

 

Please book here for the next market at Longbeach Mall on 9 July and I will open booking for 6 August this week too:

https://pocketmoneymarket.wordpress.com/market-stall-bookings-for-kids-from-3-to-16?iframe=true&theme_preview=true

Until now I have collected the stall fees at the end and adjusted down where takings are on the low side. However its too chaotic to manage so all fees will have to be paid up front from now, unless you make a special arrangement ahead of time. If any children do not earn enough I will be happy to credit them but this will be done at a later stage when I have time to assess properly. ( I work on not more than 20% of net income as a guide) Please remember you may apply for charity dispensation and outreach stalls are at no charge. I also have some start up assistance available for outreach too. This is a non profit, I do this in my own time “for the love” and self fund but I am really battling to stay afloat. Certificates, prizes, and a host of set up costs need to be paid, plus each event takes about 5 working days to set up. I work full time too so its not perfect, but on balance I think still worth doing. If anyone is able to assist in any way…nothing is too small. Printing is a constant expense and posters, accounting sheets and certificates are essential. It is my dream to get a proper sponsor and “do it properly” – I have a document prepared if you have any ideas!

Lastly we are now on Instagram too: https://www.instagram.com/pocketmoneymarket/

Thanks to everyone for your support!

Lin

PS sorry this is not a very pretty report…having a glitchy day and nothing wants to go where is should…but the basics are all there.

 

Bookings Open For Feb Markets At Cape Point Vineyards Every Week

PMM flyer Feb 16

I am absolutely thrilled to announce we have been given a great new venue!

We have 10 stalls every Thursday at the fabulously popular Cape Point Vineyards Community Market.

The first one is already on 4 Feb so please help me make the most of this amazing opportunity by booking a stall.

Bookings are open for 4, 11, 18 and 25 Feb here: https://docs.google.com/forms/d/1sX_5GJAh7sJr4iNLBf7FjfGHipEpuPmgs9muWOODp0c/viewform Please complete the form with all details, otherwise you application cannot be processed.

Trading will be from 5 to 7pm, older chidren may trade on later if they wish.
Setup details will follow, we need to be mindful of traffic as this is a BUSY market.
Venue: Cape point Vineyards, Silvermine Road, Noordhoek
Contact Linda: 0833840590
E-mail: linda@livelightly.co.za
Twitter: https://twitter.com/LiveLightlyKids
Facebook: https://www.facebook.com/PocketMoneyMarketSA

Applications will work on first come first serve with some preference to those who attended in 2015 if we are oversubscribed. If you wish to attend more than one a month that will be possible if all applicants have been accomodated and there is still space.

Stalls are R50 for one or 2 children and an extra R10 for additional children. Tables are provided at this venue.

Goods and services:
Please note some details may change as we are still in the trial phase at this venue. We may not clash with existing vendors, details are in the booking form.

ACTIVITY STALLS ARE ENCOURAGED. I prefer to avoid “made in China”. Please note electricity points are not available.
I would encourage a variety of items for their first market to get a feel for what sells. Plants, veggies and herbs, crafts, activities like guessing the number of sweets in a jar, temporary tattoos and nail decoration are all fun and easy. I suggest keeping some items small and simple and selling them at lower prices but a few larger items with a higher return help to bump up profits a lot. Awards will take into consideration things like the originality of the products, cost of production, how much parental assistance is required, display, salesmanship and profit, among others. Recycling, upcycling and creativity are encouraged.

The young children battle to concentrate for two hours so I advise keeping the set up time minimal and stalls simple. The children will get a simple sheet to complete  with expenses, float, takings and profit. This is compulsory as the aim of this project is to educate. As this is an evening event, accounting forms can be completed at home and returned via e-mail. Certificates will then me emailed back unless you prefer to collect at a later stage. Awards will take place monthly and winners will be given opportunities to trade at the bigger events in the year and a early booking option for each month.

I am looking for children who would like to become Pocket Money Market photographers and reporters too.

As always feedback, suggestions, help and sponsors or donations to costs and prizes are welcome as are volunteers to assist with the outreach children, graphic design, PR and loads more!

Many thanks to Cape Point Vineyards for this fantastic oppotunity. I look forward to seeing you there.

 

PS The last market report is here: https://pocketmoneymarket.com/2016/01/14/december-pocket-money-market-report/

If you would like to recieve email notification of events please subscribe here: https://docs.google.com/forms/d/1sX_5GJAh7sJr4iNLBf7FjfGHipEpuPmgs9muWOODp0c/viewform

 

 

1# How the Pocket Money Market began

I think we all have times where we just can’t figure out where all our cash went. I am sure parents find this especially challenging. It is simply amazing how quickly an ice cream here or a bouncy ball there all just add up.

When my daughter turned six, I opened her a bank account. It is linked to mine, with very low fees and I’ll go into those details a bit later. She gets a monthly allowance and all her birthday and Christmas money paid into the bank. She has a card and can swipe and pay or draw at the ATM. Most cashiers are really sweet and patient while she keys in her pin and writes her “signature” on the slip.

She feels empowered and responsible. I save a ton of cash as she has to pay for all her own treats that fall outside of what I have agreed to pay which I will also get to in a later post. It is absolutely amazing how many things she now does not really want, if it’s coming off her account. The sweets consumption has halved. Purchases are carefully considered and quality has become a major consideration. We view her transaction history online regularly and she has a good understanding of her spending patterns, interest earned on savings and costs of transactions.

There has also been an evolutionary process. After some saving, her 8th birthday and Christmas, it seemed like the money would never run out. I was aware of some spending that I considered reckless or wasteful and tried to warn her that buying all your buddies ice creams was a bit over the top, but it fell on deaf ears. The independence went to her head a bit and as the amounts were not serious I thought I would just let it run it’s course. And so the day came where the account ran to nearly empty and allowance day was still two whole weeks away. Total devastation! There is no teacher like reality.

So the next phase in our financial education began. I refused to give her an advance on her allowance, but agreed to help her to earn some cash. Not by doing chores though, as these are a standard requirement. She had to come up with a plan to make something to sell or provide a service that had value. She is pretty crafty and quickly had a number of items lined up. One thing lead to another and I landed up holding our first “Pocket Money Market” for young entrepreneurs in our garden. It was an amazing success with children from 3 years old to 16 years old and I will post the detailed report separately.

And so the Young Entrepreneurs Pocket Money Market came into being. I have researched this concept and found nothing for younger children, only really for teenagers. Well, we have clearly seen massive interest and meaningful advantages in nurturing entrepreneurial skills from really little, especially in a country facing the challenges that South Africa has.

It is now my intention to expand and roll this out first in the Cape and with a little luck, nation-wide. In to next few weeks I will share information on:

  • How much pocket money for every age is appropriate and what they should be required to fund from this.
  • Various banking package options and how to maximise the benefits
  • Related benefits and spin offs like lowering junk food consumption, developing mathematical and accounting skills, purchasing decision making processes.
  • Age appropriate business training info packs and tips including market research, product development and accounting – all in a fun, kid friendly format.
  • Actual events and Pocket Money Markets in different areas that you can attend and the children can earn real money, win awards and be introduced to marketing, upselling and competition.

I invite all interested parents, children, business people and possible mentors to participate in a variety of ways. If there are any companies or institutions that would like to offer any sponsorship that would also be fantastic.

Please follow this link to the brand new Facebook page for the report and photos of our first Pocket money Market: https://www.facebook.com/media/set/?set=a.665072270269926.1073741859.528753983901756&type=1.

You are welcome to mail me at magic@livelightly.co.za

Cheers

Linda

Young entrepreneurs at just 3 and 5 years old!
Young entrepreneurs at just 3 and 5 years old!
Careful counting of change and explaining that a float is not profit!
Careful counting of change and explaining that a float is not profit!
Award time, tough decisions!
Award time, tough decisions!
One of the proud winners
One of the proud winners