I had the pleasure of talking with Ralph Williams, founder of Franchild. Franchild helps parents harness the entrepreneurial energy in their children.
How does it work? From their website:
It only takes 4 simple steps. Step 1: Pick a business model: beeswax candles, organic soap , jewelry or apparel. Step 2: Fill out a FranChild application. Step 3: Order your inventory. Step 4: Create custom business cards, product packaging and marketing materials. Congratulations…you are on your way to starting your first business!
It all started with a beeswax candle business started by his young kids, Patrick and Joe, to supplement their allowance.
“So one day, Patrick says, ‘Hey, Dad, wouldn’t it be great if other friends around the country could have a business like ours so they could earn more allowance, too?’ With that question – FranChild was born.”
I like the model because it offers the advantage of any franchise — a turnkey business with all of the basic structure and systems already in place. Parents and kids are busy enough as it is. FranChild allows kids to get right to work learning the power of free enterprise.