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Sunday, November 27, 2016

10-Year-Old Lemonade Entrepreneur Gets $50K Deal On Shark Tank

10_year_old_entrepreneur_gets_$50k_deal_on_shark_tank
Entrepreneurs come in all shapes and sizes as well as ages. What they all have in common, however, is a passion and a goal to be successful business owners. That is certainly true with 10-year-old Jack Bonneau, who is CEO of Jack's Stands & Marketplace in Broomfield, Colorado. He recently appeared on Shark Tank to pitch his lemonade business and landed a deal for $50,000.

Young and savvy

Bonneau was only 8 years old when he started his lemonade stand. At the time, all he wanted was to make enough money to buy a $400 Lego Death Star set. He had a curbside stand outside a farmer's market. He reached his goal all right, and now has lemonade stands in Erie, Louisville, Broomfield and two in Westminster. Although his dad helps, his dad says that Jack does about 95 percent of the work.

Business is good. Last year Bonneau made more than $100,000, compared to the $25,000 he made the year before. He was thrilled when he learned that he would be on Shark Tank and was nervous but very confident on the show. The deal he received was from billionaire investor Chris Sacca who offered Bonneau $50,000 for 10 percent interest in the lemonade business. Bonneau agreed.

What's next?

Bonneau wants to expand his business into New Orleans and downtown Detroit. He has learned how to network and is in currently in discussions with 13-year-old "Super Business Girl" Asia Newson to work with her. Newson is known as Detroit's youngest entrepreneur, selling her homemade candles and other merchandise.

Beyond that, Bonneau states, "I really want to keep Jack's Marketspace & Stand as long as possible." "I really don't know what I want to be when I grow up."

That's OK Jack. Something tells us whatever you decide will be just fine.

Read more at www.broomfieldenterprise.com/news/ci_30554374/young-business-man-shark-tank-friday-night
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