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At just 10, this kidpreneur lands $500K ‘Shark Tank’ deal — and it all started with wanting to buy Lego

A 10-year-old 'Shark Tank' contestant proved that you're never too young to start your own business

When kidpreneur Jack Bonneau appeared on the ‘Shark Tank’ stage, he left everyone in the room impressed. In 2016, the contestant was just ten years old as he stood before the sharks to pitch his business idea. With a confident smile on his face, the young CEO sought $50,000 for a 10% stake in his company, proving how early young entrepreneurs can get started on their journey. It all began when Bonneau wanted to buy a $400 Lego set. His father agreed that they could buy it, but only if he earned the money himself. And so Bonneau started his venture by selling lemonade. This eventually gave him the idea to build the brand ‘Jack’s Stand and Marketplaces,’ a company that educates children about entrepreneurship, business, financial literacy, and more, while having fun and earning money.

The company “offers kids the opportunity to sell lemonade and other drinks,” he revealed. It’s also a retail shop of unique products created by young entrepreneurs. For such a young child to think of an initiative to educate his peers on business strategies in a fun manner is commendable. Although the sharks were impressed by Bonneau’s idea and his motivation behind it, they didn’t find it an investable business. However, guest shark Chris Sacca took the risk and decided to help him grow the business by giving a $50,000 loan at 2% interest, and Bonneau sealed the deal. 

In an interview with Forbes, the young CEO opened up about his experience on the show. Bonneau recalled being in New York City for The Today Show and, by chance, went to the ‘Shark Tank’ audition in Manhattan. “I got up early to get in line, and when it was my time, I gave my pitch on my own,” he added. He admitted that he was more excited than nervous to present in front of the sharks. “To pitch in front of Mark Cuban, Lori, Barbara, Mr. Wonderful, and Chris Sacca was the “win” for me. Anything that happened after that was just icing on the cake!” the CEO added.

When asked about his experience behind the scenes, Bonneau said that he was treated extremely well and had a “great” overall experience. He admitted that appearing on ‘Shark Tank’ certainly gave a boost to his business. Without giving too much away, he revealed that he’s “made a lot more revenue than most 12-year-olds.” The added benefit of his business doing well is that his peers made tens of thousands of dollars in profits, commissions, and tips. Since appearing on the show, he has touched a lot of milestones, like being a summer spokesperson for Smuckers, the Santa Cruz Organic beverage brand.

“I’ve also launched my own brand of lemonade, which I hope to get into Whole Foods, Kroger’s, and Wegmans,” he revealed. “And, along with MindSpark Learning, I recently spoke at the annual board of directors meeting event at the U.S. Chamber of Commerce,” Bonneau added. As if this long list of accomplishments wasn’t enough, he also contributed to charity by donating thousands of dollars to different middle schools while educating them on business acumen, logistics, profits, and more. Bonneau aspires to make it to the Forbes 30 under 30 list someday and hopefully motivate others to follow their passion.