Fred’s Photos was a hit at the Children’s Business Fair. Not only making good profits, but Fred (12) won the Best Stand prize. Here, he talks about the secrets of his success.
How did you get started with your business?
I love spending time outside and recently I’ve been really enjoying taking pictures. When I found out about the Children’s Business Fair, I thought it would be good to see if I could sell some of my best pictures, so I applied.
What research did you do for your business?
I’d been to a few craft fairs and noticed people selling coasters and cards, so I started to research how to do this.
It took a while to find the best person to do this, but I eventually found someone in Lancashire who could produce really good prints. I ordered postcards, greetings cards, coasters and framed pictures.
What was your business plan?
My Mum and Dad lent me £100 for getting all the products made. My most profitable products were the framed pictures. I spent 30p on the postcard and £1 on the frame and charged £6 per framed photo.
How much money did you make?
I made a profit of £72, which was really amazing. And I still had £50 worth of stock left over. I’ve been selling it to friends and family ever since. I’ve also paid back my parents.
Did you enjoy the fair?
At first, I was a bit nervous. Then people seemed to really like my photos and I got loads of compliments. I became much more confident telling customers my story. I ended up really enjoying selling my products.
The best bit was when I won the “Best Stand” prize. I won £50 in cash – so my earnings for the fair were actually a total of £122!
What advice would you give potential participants?
Do something that you love. I found it really helps if you are passionate about your product. I think people really enjoyed talking about my photography and could see that I love doing it.
Are you going to continue to develop your business?
Definitely. I’ve continued selling my leftover stock and taking loads of photos.