For young kids, the opportunities to make some money are largely un-existent. Beyond the famous lemonade stand or a few house chores and babysitting, kids do not have a lot of avenues for employment or even do business.
Mighty, a new online store that invites young kids to open online stores is trying to occupy this unexplored niche. The company is founded by Dana Mauriello, a former Etsy employee for five years and Ben Gholdhrish founder of GOOD magazine.
The idea came about as Gholdrish was trying to tutor his two daughters using Khan Academy only to be met by two very unhappy faces.
“They were like, “F*ck you, dad. We just finished school and now you’re going to make us do more school?’”
Like any good Dad, who is also a business executive, he tried to find a more engaging activity that would also enable them to learn vital math skills as well as business plans, marketing and startup capital.
To do this he got them to sell online bracelets that they had already been making. Much to his delight, it worked and like every good idea he told his friends about it and they asked if he could help them do the same thing for their kids.
Today Goldhrish and Mauriello are running a beta startup that has raised more than “3000 young CEOs.”It plans to raise more successful entrepreneurs on the e-commerce platform who may go on to change the world someday.
Mighty’s e-commerce success is not however too surprising. Most children already spend a lot of their time online and with so very few opportunities for a child under the age of 14 (minimum age for employment) it is a good way for children to start earning a little money for themselves and more importantly learn a number of vital skills that will prepare them for the real world.