Jack Bonneau, a 10-year-old from Broomfield, Colorado, runs a lemonade stand “franchise” called Jack’s Stands. According to a New York Times interview, Jack’s initial motivation for the first lemonade stand was to earn money. He had his eyes on a $400 Lego Star Wars Death Star set “that his father insisted he pay for himself.” After the success of the first stand, he set up a number of stands at nearby farmers markets, all operated by kids (under 18) who he trains. During the second year in business, Jack’s Stands made $25,000. Now he wants to expand the business nationally, that’s why he’s pitching Jack’s Stands on Shark Tank.
Before Shark Tank, Bonneau has forged business partnerships with other kid entrepreneurs who have made deals on Shark Tank including Mo’s Bows (Daymond John is Mo’s mentor), and Ry’s Ruffery (Barbara Corcoran invested). Booneau carries their products at his lemonade stands. Shark Tank airs Fridays at 9pm on ABC.
