Learning to make a buck
This weekend, we’re having a major machinery sale to move out some high-mass inventory taking up space in the workshop. This is really to liquidate my partners assets and hopefully to have a little less stuff to move when we find a house. We’ve offered the daughter an opportunity to make some money this weekend if she’ll spend a little effort doing it.
Basically, we’ve said she can sell soda and sweets (brownies) if she can make it all happen. We’ll draw up a business plan with her, offer to front her some cash for buying supplies, and set her off on her merry way to make money. She’ll be in charge of setting up how much she’d like to buy, how much she thinks she’ll sell (with some reasonable suggestions from us), what she wants to charge, and making sure her business loan is paid off — regardless of whether or not she sells enough.
Luckily, there is a contingent plan for buying too many sodas. Our housemates often buy cases of soda and would probably be willing to purchase excess inventory from her at cost. So, it seems like a pretty sure fire way to make some cash. I just need to write up some worksheets to help her plan it out because I think it will really help make this possible for her.
She really hates the idea of having to buy supplies, but hopefully once we sit down and help her write it up she’ll see that she will be making money from nothing, essentially, is she plans it right. Yeah, there is the cost of her labor — but what is child labor worth these days? $0.25 a hour or something like that?
Now if I can get her to accept the fact that if she charges $2 a brownie she’ll sell less compared to selling a brownie at $0.50. Right now she is pretty set on selling brownies for $1.50. There better be some pretty big brownies.
mapgirl
May 4th, 2006 13:35
How did the bake sale go for your daughter? Did she learn anything?
Donna Jean
May 6th, 2006 19:47
Unfortunately, she decided she didn’t want to do it. This was after doing the product research and knowing how much it would cost to get started. So, at least she got some experience considering start up costs.
She is quite reluctant to do anything to earn money, but quiet forthcoming with complaints about not having any money. I attach her allowance to chores, which I often feel is not the best plan of action. However, she rarely consistently does her chores and therefore does not get paid — which is why I feel I need a better plan.
I’m hoping that upon moving into a home of our own and no longer living with others, we’ll be able to get a better handle on house and financial responsibilities.