My boys are anxiously awaiting their THIRD shipment of fidget spinner to arrive from China. What are fidget spinners, you ask? Well, they’re great for giving anxious hands something to do and INSANELY popular right now. I’ve heard that many autistic kids use them, and adults keep these little gadgets spinning to help relieve stress and stay focused.
Well, three weeks ago, my smart, little entrepreneurs (and the neighbor kid next door) jumped on this fad and ordered 80 of these spinners to sell to their friends.
They sold these for $7 each…and completely sold out in ONE day!
That night we ordered 120 more. Those arrived one week later and they again sold out in one day.
Now, these risk-takers did some calculations and determined that if they ordered 300 more, they’d get a much lower price, resulting in greater margins and ensuring they wouldn’t run out.
It was a hard decision, but with shaky hands they clicked the “Buy Now” button and reinvested their profits.
I know we’re teaching them valuable lessons about risk and reward, and giving them a sense of work ethic. Plus, it’s so fun to watch their excitement as they learn about supply and demand, salesmanship, and capitalism.
Want a Fidget Spinner but don’t want to order a box of 300 from China??? GearXS has this 3-Pack: Fidget Hand Tri-Spinner Anxiety & Stress Relief Toy for only $9.99 w/ FREE Shipping when you use promo code SAVE10 to get an extra $10 off.
Fidget Cube are also popular and over on Groopdealz they’re just $6.99! (Reg. $19.99) ***Shipping adds $2.99 for the first item and $1.99 for additional items.
Also, read my post 5 Ways to Teach Your Kids to Be Thrifty and watch my boy on Good Morning Texas for more tips.
[…] recently shared how my boys started a Fidget Spinner business about six weeks ago before they were all the rage and now hard to get in […]
I can see future entrepreneur here 🙂