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Press Release
MyOwnBiz News
MyOwnBiz, 16059 Woodville Road, Brandywine, MD 20613
(301) 579-2607 or 1-800-484-5627 (Code 0890)
www.myownbizkit.com
Email [email protected]
For Immediate Release Contact: Lucinia Mundy
MyOwnBiz has a mission to educate young people age nine and up on the principles of starting and managing a small business.
MyOwnBiz was created in 2000, by nine-year old, Opal Mundy and her mother Lucinia Mundy. Opal began showing interest in financial literacy topics when she was seven years old. She opened her first savings account in 1997. The First Virginia Bank-Maryland (now named Farmers Bank of Maryland) and Malcolm Elementary School (Opal's current elementary school) had formed an educational partnership to help establish good savings habits for children at a young age. First Malcolm Bank was launched. Student tailors were trained to manage the in-house Malcolm bank and Opal was one of the first kids in line to deposit her money into a savings account.
After learning about simple banking transactions, Opal wanted to learn how to operate a small business. Her mother began researching different business ideas that young people could pursue. After unsuccessfully locating a business tailored to their needs and desires, Opal and her mother came up with the idea of creating a parent and child team business where they could sell a variety of inexpensive products. Currently the company sells a variety of products such as eductional products for kids, hair accessories products for men, women, and children, toys, gift items, jewelry, and other kid-related products. Opal named the new business MyOwnBiz.
The company creates start-up business kits that allow young people to create a variety of youth operated businesses where they can start selling products and services and earning money immediately. The kits are educational and come with a workbook that walks the young entrepreneur through the start-up stages of creating a small business. The kit also includes a business and marketing plan, personalized business cards, marketing brochures, an inventory-tracking sheet, grand opening business invitations, customer receipt forms, a brief case, plastic bags, and a variety of wholesale products the young entrepreneur can sell. The kids along with a parent or guardian can sell their products from their homes or at local flea markets, county fairs, fund raising events, and yard sales. The company also participates in local and national business expos and trade shows where the parent and child team can gain valuable experience at selling products in a professional setting, increasing their self-confidence and public speaking skills, and gaining public recognition for their entrepreneurial efforts.
The company also conducts Youth Entrepreneurial Training Workshops entitled How to Start A Business That's Fun. The youth learn the principles of starting a small business and how to set-up and manage a Youth Operated MyOwnBiz enterprise. In addition, the kids learn about money management issues as well. The company encourages organizations, corporations, and small businesses to help provide business opportunities and PAID INTERNSHIPS to the young people that attend the workshops by sponsoring the kids to to attend a MyOwnBiz workshop. The sponsoring organizations, in turn are invited to speak to the young people and their parents about their entrepreneurial experiences, products and services.
Business kits can be purchased without attending a workshop from one of
company's Independent Sales Associates. After a MyOwnBiz business
kit is purchased, the client can expect to get support and information
from the company through its Independent Sales Associates. The Associates
are responsible for marketing and selling the business kits, providing
technical assistance to the young people, managing MyOwnBiz booths
and kiosks, conducting youth entrepreneurial workshops, and recruiting
other independent Sales Associates.
December 8, 2000