Out-of-pocket costs will depend on the size and complexity of the fair, but there is no cost or hidden fee to Acton to host a fair. In fact, Acton is paying small amount of prize money to hosts once their fair is complete to help offset hosting costs or give awards to the best business. Many hosts choose to raise money or charge fair participants a booth rental fee in order to offset some of the costs.
Acton Children's Business Fair is the philanthropy arm of the Acton Academy and Acton MBA programs. The purpose of the philanthropy is to promote entrepreneurial skills among children and to help them find their personal mission in life.
Some people spend 3 weeks or less planning their fair, while some of the larger fairs require months of planning. We recommend starting very small with 5 to 10 tables, perhaps on your front lawn. When the fairs are small, the host often only needs to secure the location, set up the tables, and advertise to kids and parents to participate. The Austin Children's Business Fair started with 10 booths its first year and has grown to over a hundred.
Licenses and permit requirements differ by state, county, and city. We recommend contacting your local government office if you have questions about licenses and fees. Some states and cities provide exemptions for children doing small businesses such as lemonade stands. A good general rule: the bigger the fair, the greater the complexity. We recommend starting small.
Yes, Acton is a non-profit. However, we do not give out our EID for tax purposes because we cannot keep up with every small donation made around the world to individual fairs. If you are interested in collecting tax deductible donations, we suggest forming your own non-profit or scaling back your fair to keep it small enough where you don't require extensive donations.
Yes. Upon completion of a fair, hosts will receive $10 per booth for up to 20 booths, and $5 per booth thereafter, so long as hosts fulfill their end of the agreement. This prize money is only guaranteed for the first fair. Once they are accepted, hosts will sign a small agreement outlining what they need to do to qualify for this prize money. The agreement asks hosts to conduct customer surveys for fair participants and to send those surveys to Acton.
We encourage everyone to host business fairs whether or not they do it through Acton. However, when hosts use the Acton platform, they receive a planning kit, resources to help children prepare for the fair, access to prize money, and a turnkey webpage on the Acton site. Perhaps most importantly, Acton hosts gain access to a network of other fair hosts around the world, allowing them to share experiences and resources.