What is the Fredericksburg Parent Children’s Business Fair?
The Fredericksburg Parent Children’s Business Fair, held virtually this 2020, inspires children to discover their inner entrepreneur. Children compete in one of the largest entrepreneurship events for kids in North America. This gives children the opportunity to showcase their very own businesses, present their ideas, make a profit, and compete for a cash prize. Fredericksburg Parent will be using the Acton Children's Business Fair model based on other successful fairs around the country.
How many businesses will you accept?
Children will be permitted to enter as space is available. Registration will close after Wednesday, October 7, 2020 and space will be offered on a first come, first served basis. Children must be fully registered to be assigned a space. Each child will conduct business from a virtual platform. Registration is 100 percent free through the generous support of our sponsors!
Where should I begin?
Start with our resources page. Read inspiring stories about other young entrepreneurs and play games to hone your business skills.
How do I apply? Can I apply as part of a group?
Application must be submitted online. Please submit one application for each business. Children working as a group should submit one application that includes each child’s information. No more than 3 participants per business.
What is on the application?
The application asks kids to think through some simple, but important elements of their business:
- What product or service do you plan to sell?
- What price will you charge for each product/service? How much will each product/service cost you?
- How will you pay for your startup costs? If someone is helping you with your startup costs, how will you pay that person back?
- How will you advertise/market your business before the fair?
- At the end of the fair, how will you determine if your business was a success?
What if someone else has the same business idea?
Two cupcake businesses? Not a problem. In general, we will let market forces play out, though we will let later entries know if another applicant has a similar idea so the later entrant can decide what to do. Children will need to list all food and beverage ingredients, including potential allergens, and display it in clear sight of their customers.
How will the fair be set up?
The fair will be held virtually this 2020. Details will be provided after the child fully registers.
Will Wifi be available?
Unfortunately, free WIFI will not be available. Children are asked to plan for this in advance.
What are the rules?
This event is designed to give children the experience of selling a product or service. If a parent is found selling or promoting a child’s product or service, their child’s business will be disqualified from the competition. Parents may work with children to create social media messages and emails.
Children should be primarily responsible for set up, customer communication, and sales.
Parents may help their child fill out the application, but we expect the children to do as much as possible by themselves.
What can I expect on the day of the event?
12:00 p.m. - Virtual check-in and brief orientation
12:30 - 1:00 p.m. - Virtual "Set-up"
1:00 - 3:00 p.m. - Child entrepreneurs actively sell, judging commences via virtual platform
3:00 - 4:00 p.m. - Acknowledgement of participating businesses and awarding of prize money. Due to the popularity of this event, there will be a top prize of $100 by age division.
How did the Acton Children’s Business Fair get started?
Jeff and Laura Sandefer and a few other families wanted to spark a sense of wonder and entrepreneurship in their children so they created the first Acton Children’s Business Fair in Austin, Texas, in 2007. That year, there were seven entrepreneurs and around 25 attendees. Now, there are over 115 entrepreneurs and 1,500 attendees at the Acton Children's Business Fair in Austin. Fredericksburg Parent is pleased to bring it to our area for the very first time.
*Fredericksburg Parent and Family is offering the Fredericksburg Parent Children’s Business Fair as a free community event and shall be held harmless from all liability*