Teenage Millionaires « Insp1re – Your source for Motivational, Inspirational Videos and online guides

Fraser Doherty – Superjams

Using his grandmother’s recipe, Fraser Doherty started making jams in his parents’ kitchen in Edinburgh at the age of 14. Friends and neighbours loved them and word quickly spread.

Orders for the jam started coming in faster than he could produce them at home, so he rented time slots for several days a month at a processing factory.

By the time Fraser turned 16 he had left school to work on his jam business full time. Fraser go this big break when he was approached by high-end supermarket chain, Waitrose to sell his jams. Fraser’s Superjam jars were soon on the shelves of 184 Waitrose stores across the UK. It wasn’t long before Tesco wanted to sell the jams in 300 across the UK.

Funding for the business came from a £5,000 bank loan to cover general expenses and more factory time. In its first year Superjam reached close to £500,000 in sales and is worth in the region of £1.5-2 million.

Cameron Johnson – Serial Entrepreneur

Cameron was just age 9 when he started his first business in Virginia, making invitations for his parents holiday party. Within two years and at the age of 11, Cameron had saved up thousands of dollars selling greetings cards. The company was called Cheers and Tears.

Astonishingly, he didn’t stop there, by age 12 he he had started another business selling Ty Beanie Babies on ebay. At the height of the Beanie Babies trend, Cameron offered his younger sister $100 for her collection and started earning 10 times that amount selling them on ebay. Noticing a huge opportunity, he approached Ty and started buying the dolls at wholesale price to sell them on ebay from his Cheers and Tears website. In less than a year, he had banked around £30,000 for his next venture, EZ Mail.
Cameron has not stopped since, launching business after business and by the time he had graduated high school, he had made his first million.

Catherine and David Cooke – MyYearBook

Unimpressed with her high school yearbook and the online equivalents, a 15 year old Catherine Cook set about creating her own.

She enlisted the help of 16 year old brother Dave and 26 year old brother Geoff to start her business myyearbook.com. It is now one of the largest social networking sites and has over 5 million members.

Her age was never going to be an obstacle, in fact she sees it as an asset to her.

Catherine has been quoted saying: “When you’re a teenager, it’s virtually risk-free to start a business: You’re still dependent on your parents, so really there are no major risks,” says Cook. “Even if you fail, you’ll still have a really really great college admissions essay, so just do it already.”