For a few years now I have been holding onto my winning business idea until the time is right, It will change the world…honestly. Having said that, if someone was to come along and offer me even half a million quid for it I’d say yes, quit my job and go find a beach until it all ran out.
This 14-year-old turned down an incredible 20 million for his. Credit where it’s due, Taylor Rosenthal from Alabama has will power.
The schoolboy had the idea of creating vending machines that dispense first aid kits. He told CNN:
“Every time Id travel for a baseball tournament in Alabama, Id notice that kids would get hurt and parents couldnt find a band aid. I wanted to solve that.”
Taylor launched a start-up and called it RecMed. This was after a large national healthcare company offered $30m (20m) to buy the idea. Taylor turned it down.
Instead of taking the money Taylor raised69,000 in angel investments and plans to make money by selling the machines for 3,800. To make 20m revenue (not profit) he’d need to sell over 5,000 vending machines. He’s a courageous young man.
The machines will offer customers a variety of products such as first aid kits, rubber gloves and anti-septic wipes. He’s had his first orders from a theme park and is optimistic on the future of his business. Taylor’s teacher said:
“Even with all of his success, he remains humble and ready to help others. Hes just 14. Bill Gates should be worried.”
I’m not sure Bill Gates will be worried, but he’ll probably be very impressed. Here’s the guy himself talking about his business.
H/T: The Metro