We have a fab fun event on Sat 23 Set at the amazing Cape Farmhouse! Thanks so much to Zoe and Vusa Mazula for hosting us!
Dates open for bookings:
23 Sept Fun day at Cape Farmhouse
21 October 2017 Longbeach Mall Saturday 10:30-1
28 October 2017 Cape Town Kite Festival (Muizenberg) 10:00 – 12:00
11 November 2017 Longbeach Mall 10:30-1
14 October True Grit Farmers Market Somerset West 11-1
Holidays are coming soon and I will be offering the following modules:
1) Costing & Pricing
2) Marketing & Sales – Incl need identification, market research, 4P’s
3) Operational management – incl production, product optimisation, etc
4) Basic financial management – incl record keeping, capital investment, returns & profitability, depreciation
5) Online marketing & sales – get out of the sun, wind and rain!
All suitable for children from about 6 or 7 up to adults. Younger kids are welcome too although they won’t get quite as much out. Workshops are structured around a fun activity to keep it interesting and largely related to actual traders to keep it practical and real. There is no charge for traders.
Its a short holiday so I’m looking at 3 and 4 Oct only.
Please visit our FACEBOOK page for photos, videos and more regular updates and give our creative traders a like and share!
Join us on Youth Day 16 June for a bumper Pocket Money Market at the Watershed (Mezzanine area) at the V&A Waterfront from 11:30am to 2pm. At 2pm we will have a short talk from the Two Oceans Aquarium as the PMM goes plastic free and then awards for Entrepreneur of the Day as well as 7 category winners and the lucky draws.
Awards are as follows:
1) Entrepreneur(s) of the Day
2) Best advert (Likes on Facebook will count towards this)
3) Best display (Stall presentation)
4) Accounting Excellence
5) Product innovation
6) “Greenest” Stall (Environmental awareness)
7) Excellence in sales skills
8) Busker of the Day
Others may be awarded at judges discretion.
We have an awesome line up of young buskers too and are super lucky to have musician Zenn Viljoen joining as coordinator and MC.
Just a few ads to give you an idea, but please visit the Facebook page for the full line up.
Young Entrepreneurs Pocket Money Market is an NPO aimed at helping children develop the skills to become self employed. Free workshops, startup assistance and ongoing support are provided. At the moment we are about one third “outreach” and the earnings are often an essential part of the household income. We run unfunded and need volunteers and sponsorship like air.
For more information please contact 0833840590 or mail firstname.lastname@example.org. For bookings and nation wide availability scroll down to the next post.
The following market will be on 24 June at Longbeach Mall and there are free workshops covering 5 modules in the holidays. Book via www.pocketmoneymarket.com.
We strive to light a spark & nurture a spirit of entrepreneurship in order to grow a sustainable economy. We are very environmentally conscious with no single use plastic permitted and awards for sustainable products. While there are a few entrepreneurship courses out there, this is very practical empowering the kids to overcome real obstacles and earn real cash. We also take kids from as little as 5 and there all workshops and training are free. Traders are encouraged to pay a small stall rent to teach the concept of overheads (Max R50) but only when they have become profitable and can afford it.
We run at one third “outreach” and these kids receive start up assistance and ongoing support, transport and general help. All kids get free workshops and individual business training. Because growing a sustainable place based economy feels like the best thing to be doing round about now.
Volunteers and sponsorship always welcome. On Friday we have 16 outreach lids and I would love to give them each R30 “lunch money” to spend. If anyone feels like contributing to this it would be awesome.
Each trader will sign a plastic free pledge as we ban single use plastics at the PMM #Everyoneiswelcome to #bethechange as we have a group pledge at 2pm with Two Ocans Aquarium.
Many MANY thanks to the V&A Waterfront for hosting us!
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.
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.
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:
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!
I am so impressed with the improvements I have seen in the regular traders this month.
We adapted to a new format of smaller weekly markets instead of the larger monthly events of last year. We are really lucky to have space every Thursday at Cape Point Vineyards and although week day evenings are tricky for many kids, it has been super for them to be part of a “real”trading environment. We did manage one Saturday event too at The Red Herring so a bumper month with 5 markets…with another 5 in March too. Stalls can be booked here: https://pocketmoneymarket.com/market-stall-bookings-for-kids-from-3-to-16/
The grand prize for February was kindly sponsored by THE SWEETEST THING PATISSERIE in Simon’s Town and is a voucher for R250 and a tour of the business with some hands on experience of running a small business from real entrepreneurs.
And the winner is….
Over all Entrepreneur of the month for February 2016:Robert Palmer – Robert’s Organic Magic Plants. Robert progressed a long way this month, getting to grips with his accounting and he produces all his wares without assistance, using things with little or no cost. In addition his point of sale displays are great and although he is not naturally a salesman or people person, his product knowledge and love of plants equips him to hold his own with even the most demanding clients. Robert also picked up a job at the market and did a day’s planting – a lovely bit of market penetration. Congratulations Robert!
Robert was SO excited…he was actually gunning for Best Display so overall winner was a huge surprize.
Other awards went to:
We All Scream for Ice Cream
Presentation & Point Of SaleExcellence
Message in the bottle
Product & presentation excellence
Sales Supporter: Ryan Hunter
Best original product
Table Mountain Dragons
To good to be true
Innovation & Point of Sale
The Fun Spot
Josiah Mortlock- 8
Kian Mortlock- 5
Consistancy and positivity
ICED 3 (Iced Tea)
Presentation of products & best turned out traders
Michael & Stephen Bottcher
Accounting excellence, Best newcomer
Kiana Rayne Sonnenberg
Ability to improvise & innovate
There are also certifcates of participation for all the children who attended in February, please get in touch to arrange to get them. Thank you so much to Cape Point Vineyards for having us and they also kindly printed this month’s certificates.
The Febuary focus was COSTING & PRICING the goods with ACCOUNTING in mind. This did not appeal initially but is really the foundation in many ways and once the kids get it they ralise how helpful it is. It is a juggling act to keep it light enough to be fun while ensuring the project goals are achieved…so awards are a massive motivator and the smaller format markets provide much more time for me to work with the youngsters. On Saturday we had a workshop and everyone who attended recieved an ebook on costing and pricing too – I think (hope) many pennies droppped. March will focus on ADVERSING, POINT OF SALE & MARKETING, April will have MARKET PENETRATION, DIVERSIFICATION & PRODUCT OPTIMISATION as a theme. Newcomers will have a chance to catch up as we will cycle through all the material regularly, I am happy to repeat modules for any group of 5 or more and each session takes about an hour. There is no charge for these and all are welcome.
Over the next couple of weeks I will be adding the pages to this website for each child who wishes to trade between markets so you can order directly.
We featured in the Weekend Argus as well as the community papers and I have done a lot of radio this month too. However A SPONSOR is still desparately needed as I am still self funding. Winter is on the way and I need to hire indoor venues and I also need large weekend venues for the monthly bigger markets as well as workshops and training. Prizes, learning material, transport and subsidization for the outreach kids all need to be sorted. I see so much potential but am unable to fufil it all as I still work 2 jobs – if I could give up one then this could really take flight.
At the end of the day, I am in SA for the long haul and raising my child here. The only way forward is to do what we can to make it work and it seems to me that much of what is wrong stems from financial insecurity and children who are often largely unparented. 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 incomegeneration to families where the means for the children to join the Pocket Money Market are simply not available, via the outreach programme.
The current group of children are really starting to earn well and paying for meaningful things and saving decent amounts. I believe one day they will be able to work for themselves and take care of their families. We have been running a year already and I think I have some 200 accounting sheets on file which is a requirement of each stall. I anticipate at least double that this year, possibly much more.
I simply do not have the time to fundraise but if you have any ideas or contacts please drop me a line: email@example.com
As always thanks to everyone who supports this project and my sister Nikki for all her hard work and especially for arranging this lovely prize.
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/
Sooo, I must apologise, I am about 3 reports behind. I’d love to do them with the amount of detail as I used to, but Murphy’s Law, whenever I plan a market some paid work turns up and that has to take priority! So rather than get even further behind, here is a short report of the 5th September Pocket Money Market at Bay Primary and another call for Young Reporters, Young Photographers and Young Film Makers to take up the challenge! I have had coverage on radio and TV so it’s a great platform just sitting there…waiting for you.
Many thanks to all, especially those who travelled so far. We had people who came from far and wide which was amazing. Great kids, clever products and a fun day. It was the first time I have joined another event so a learning curve but on the whole all good I think. As it was a food fair fundraiser, the Pocket Money Market could not sell food…quite a limiting factor. Lots of green fingered folks out there however and there were plants galore!
We had a tight schedule for prize giving so the costings sheets were somewhat rushed and I am having some difficulty working them out, but love the calculations and little notes some kids have left me.Too cute, really! I would like to start a bit more detail on this and hope the parents will take this part further at home too. I am also going to get a LOT stricter on how much help parents are allowed to give at market day…at this stage it reflects in the awards so parents who do too much…take note please;) You may be “Young at heart” Entrepreneurs, but its all about the kids. Thanks so much to Bay Primary School for having us and to everyone who supported, but most of all to every young entrepreneur – you are all amazing! Please scroll down and see the rest of the report with the pics in the captions below:
If anyone is keen for a market in your area please get in touch.
Our format includes basic age appropriate costings and profit calculations, a premarket advert requirement which can also be their market sign. Awards are based on creativity and salesmanship among other things…judging is not so much about earnings. A nominal “rental fee” of R20 introduces the concept of overheads. Children from age 3 to 16 are welcome. Each child gets a certificate of participation so there are no losers.
As always I am constantly looking for sponsors, partners and feedback. I am passionate about this project and even more so about the new outreach part of it.
Next date is Sat 24 October with a big outreach craft session in the morning and a market in the afternoon…LOADS OF VOLUNTEERS needed of all ages. Donations of cash or anything we can use to make things with and ideas all welcome, I plan to stock 10 outreach stalls for 40 children. I hope to make it a fun day and all the kids can get together too. Busking and performance art spaces will be on offer and as always any fundraisers are welcome for free.
In closing, I run this with pretty much zero resources, sometimes on borrowed bucks and my sister Nikki is my team. It’s a real dream to take it up several levels and I have grand plans. My joint aims are to empower a generation of independent earners with more choices while bringing real income to needy households via the outreach arm. I really believe much of the crime committed against children happens because their parents spend such long hours working and commuting leaving children unsupervised, and if we could generate home based income this would make a meaningful difference. Apart from the obvious lack of jobs which makes self employment a necessity. I do, however have to earn a living so this gets odd scraps of time (Yes its 1am as I type this) and its far from perfect. But at least its happening…my two refrains are “Use what you have” and “Nothing ever happened sitting on the couch.” Seeing what a big deal the first earnings they took home was to the Red Hill Cool Kids has already made it a win for me. But I do need help…do-ers not talkers though. So if that’s you, give me a shout on 0833840590. You can check out the links to my qualifications and back story in the “About” section of this blog and let me know if you want to see the “masterplan”. Bank details are optimistically there somewhere too.
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.