Family Chocolate Business
FAMILY CHOCOLATE BUSINESS – May 27, 2024 – Idaho Falls, Idaho, USA
Jared Sorenson prided himself on being a hustler. He was self-made and earned everything he owned. If there was a scheme for making money, he was interested. Jared was not afraid to get his hands dirty or wear out his shoes. He sold solar panels and home security systems door-to-door. He packed his basement with merchandise for resell via his many websites and social media accounts.
Jared naturally wanted to instill a strong work ethic and entrepreneurial spirit into his two children – Sadie, age 5, and Bryce, age 3. The arrival of summer signaled to Jared prime money-making time, and he hoped to arrange a business opportunity for the kids.
“How about I set them up with a lemonade stand or selling ice cream?” Jared suggested to his wife.
“Where would you put a lemonade stand?” she asked skeptically.
“In our driveway. Or we could move it around the neighborhood. Maybe put it in the park.”
“Sounds like a lot of work for me. I’ll have to watch them the entire time.”
“But it’s good experience.”
“For me or them?”
“For them.”
“They’re too young to be worried about money. Let them enjoy their childhood for a couple more years without giving them money anxiety.”
Jared let the idea drop but was still keen on finding someone to mentor. When he listened to podcasts narrated by famous entrepreneurs, they were very big on the relationship between mentors and mentees. A mentor provided experience and leadership. A mentee brought fresh ideas and enthusiasm. Each made the other better. Jared wanted as many mentees as he could find.
Jared’s wife’s sister and her family lived two streets away in the same housing development. Their homes looked eerily similar, with matching two-story floorplans and tiny yards. Jared had little choice when it came to spending lots of time with his sister-in-law, her husband, and their two kids – Trey, age 7, and Jordyn, age 5. Fortunately, they all had plenty in common, even if the adult in-laws did not seem as motivated as Jared. In his mind, they were lazy when it came to money.
Seven-year-old Trey was probably the extended family member Jared liked most. The boy wore glasses and had a large round head covered in bushy dirty-blonde hair. He seemed smart and mature for his age and was the only one curious about all the packages his Uncle Jared stored in the basement. On the weekend after his wife shot down Jared’s lemonade stand plan, he and his family visited Trey’s house where Jared watched his little nephew patiently teach the other kids how to play a card game. Jared suddenly realized he was staring at a potential business mentee.
“How would you feel about me teaching Trey a little about money and how to be an entrepreneur?” Jared asked Trey’s parents.
“What does that mean? What would you teach him?” Trey’s mom asked.
“I could help him set up something like a lemonade stand.”
“I don’t want the hassle of cleaning up lemonade everywhere,” Trey’s mom replied.
“It wouldn’t have to be lemonade. That was just an example. We can find him something to sell that wouldn’t be messy at all. And no work for you.”
“Why Trey? Why don’t you do something with your own kids?” Trey’s dad asked.
“They’re too young, according to their mom. But Trey seems smart for his age. I’ll teach him all about finances and how to handle money and you won’t have to worry about a thing.”
Both of Trey’s parents shrugged their shoulders. “Go ahead, if you want,” Trey’s mom replied.
Two days later, Jared arranged to take Trey on a trip to Costco. They rode in Jared’s family minivan and Jared repeatedly called the journey a “business trip”.
“Uncle Jared’s going to teach you all about business. We’ll find something all your friends will like and then you can sell it to them.”
“Something they can’t get at the store?” Trey asked.
“No, they can get it at the store, but you’ll have it right in front of them, so they don’t have to go to the store. We’ll buy it at the store for maybe $1 and then you can sell it to them for $2. They pay an extra dollar and you get to keep all the extra money. That’s how business works. Understand?”
“I think so.”
Jared and Trey walked through Costco together admiring everything stacked on the tall shelves. They gravitated to the food aisles and concentrated on candy. Jared liked the packages filled with candy bars.
“What do you think of candy bars?” Jared asked Trey.
“I like them.”
“Do you think your friends would like them?”
“Uh huh.”
“Let’s try to find the best deal.”
Jared compared prices for different kinds of candy bars and found he could get a box of 36 Hershey Chocolate Bars for $25. He held the box so Trey could see it.
“These are plain chocolate. Will your friends like these?”
“Everyone likes chocolate.”
“Do you think they’ll pay you $2 for each chocolate bar?”
“Uh huh.”
Jared picked up two boxes and carried them to a checkout register while explaining what was happening to Trey. “I’m going to pay $50 for all these chocolate bars now. Then you’re going to sell them all for $2 each. When you’re done, you’re going to pay me back $50 but you’ll get to keep almost $100. Understand?”
Trey nodded his head enthusiastically.
“But you need discipline. You can’t give any of them away or just decide to eat them. You have to get $2 from your friends for every bar they take. That’s how the system works.”
Trey continued to nod. “I can do it, Uncle Jared. It costs $2 to eat every candy bar.”
“And how are you going to get your friends to buy them?”
“Tell them how good they are.”
“That’s right. Very good.”
Jared paid for the inventory of 72 chocolate bars and found a little metal box in which Trey could keep his collected money. Together, they cleared out a space for the box and candy in Trey’s top dresser drawer.
“I’m trusting you,” Jared said to Trey. “I’m like a bank. I’m letting you borrow money to buy the candy bars, but you have to pay me back after you sell them.”
“I know. No one eats them unless they have $2.”
Jared did not see his new mentee for another week. When he did, he asked how things were going with the candy bar operation.
“I sold some to my friends,” Trey said proudly. He ran to retrieve the metal box and showed Jared the money inside.
“And you didn’t eat any of the chocolate yourself, did you?”
“Oh no, Uncle Jared.”
“And your friends were okay with paying $2?”
“Yes, after I told them how good the chocolate tasted.”
Jared chuckled in a self-congratulatory way. He was a great uncle and mentor. Who else would take the time and interest to teach a young nephew this way? Certainly not any of the less motivated parents whose kids were buying chocolate from Trey. They deserved to pay the high markups Trey was charging. Some people were on top of the business pyramid and took advantage and others were suckers on the bottom. He and Trey were on top.
Jared continued to check on Trey throughout the summer. The boy stayed consistent, selling five to seven candy bars every week. He was always happy to show Jared the money in his box and how many chocolate bars were left.
“Why don’t you try and sell more than usual this week?” Jared said encouragingly.
“I like selling to my friends.”
“How about making some new friends so they can buy chocolate too?”
“I like the friends I already have.”
Jared decided not to push harder. Trey was doing a great job for his first project and motivation for bigger sales would come with maturity. Jared could hardly wait for his own children to have the same foundational experience with money that Trey was getting. Right now, his kids thought of money as something they were supposed to beg for or find lying around. His wife was always handing little Sadie and Bryce dollar bills. And whenever Jared left cash on a counter anywhere at home, it seemed to mysteriously disappear.
By the end of the summer, Trey was happy to report to his Uncle Jared that all the candy bars were sold. He proudly showed the empty cardboard boxes that had once held chocolate and the metal box now stuffed with $1 bills.
“Shall we count the money?” Trey asked.
“Sure, but let’s have your cousins watch so they can learn something.” Jared called Sadie and Bryce to stand over Trey as he slowly counted the cash.
Jared helped Trey with the larger numbers and together they reached a total of $144. “That’s exactly what you should have!” Jared told Trey, adding a pat on the back. “Remember that I’ll take back $50 for what I spent at Costco and you can keep the rest. Ninety-four dollars!”
Trey smiled broadly as he peered down at the money. “What should I do with all of it?”
“Anything you want,” Jared replied. “You could spend it on something you like or save it. Or you could invest it. That might mean buying more candy bars so you can keep selling them to your friends.”
Sadie had been listening intently and she suddenly spoke up. “Yeah, you should buy more candy bars. Dad, you should take him to Costco for more right now.”
Jared chuckled and asked his daughter, “Right now? What’s the big rush?”
“We need them.”
“What do you mean, you need them?”
“Mom won’t buy us chocolate, so we have to get it from Trey.”
When Jared realized what had been happening, his grin turned into a scowl. “You’ve been buying chocolate from Trey?”
“Only one a day.”
Jared turned accusingly toward Trey. “You told me you were selling chocolate to your friends.”
“I was. These are my friends,” Trey said, gesturing toward Sadie and Bryce. “They bring $2 and we have chocolate together. We share.”
Jared’s face puckered up like he was swallowing a mouthful of dirt. “You ate the chocolate too?”
“It’s okay. They always paid $2 for it,” Trey said defensively.
“Did you sell any bars to anyone besides your cousins?”
“Their mom bought some too.”
Jared slapped his forehead. “Let me get this straight. They took money from me to give to you for over-priced candy bars that I financed. And then they shared. I thought some other parents were the suckers.”
“I just did what you told me, Uncle Jared.”
“Yeah, I guess you did.”
“So, are we gonna go buy more candy bars?”
“No, not today. I need to rethink this operation and who’s teaching the lessons around here. I might not be ready for a business mentee.”
Please remember to subscribe for weekly reminders about new stories. You can subscribe by clicking here: Subscribe. You can also follow new content on any Podcast platform or on YouTube. For the full list of stories, return Home.