Caleb Nelson asked his father if he could borrow $10,000 for a business plan that he had in mind. His plan was a to create a business that used pedicabs, which are carts that are connected to the back of bicycles, to transport people around town. Caleb made a presentation that talked about his plans and showed it to his father. His father decided to give Caleb $5,000 if he could make the rest of it by himself. Caleb was only 14 years old at the time, so it seemed to be quite a challenge. However, he found a way to raise the $5,000 and Caleb and his father were on their way to Denver to purchase two pedicabs. With the help of some of his friends from middle school, Caleb officially launched Romeo’s Rickshaws. He has said that he is most grateful for everything that he has learned. He recognized that it was difficult for any business to stand out, because there were so many advertisements for the festival’s program. Caleb made the advertisements for Romeo’s Rickshaws not only stand out, but the people who are in charge of the pedicabs are taught to guide riders to advertisers. He also learned about how to get people to show up. There is no charge for a ride and the people only pay tips to the operators. Despite his accomplishments, Caleb does not see his business being a permanent venture. He says it is because it takes a lot of work. As of the date of the article, Caleb is 17 years old and is intending to sell the pedicabs before he leaves for college. He also intends to remember the lessons that he learned from his business.
Categories : Travel
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It is really bold of him to ask for that much money from his parents. It is cool to see how at his age he was able to learn so much about running a business. And even though the business was only temporarily, it is cool to see how much he did with it.
I never would have thought that this idea would have worked, but Nelson’s innovation really shines in his success! Also amazing for his parents to give him such a generous loan at such a young age!
It is so cool to see someone so young execute his idea and come up with something that seems successful! I hope that he can continue to grow his business to the point where he can sell for a tremendous profit before he goes off to college. Hopefully, selling this business can provide him with enough for college tuition at least! With that said, I hope whatever is ahead he finds success in and enjoys what he does. He clearly has an entrepreneurial mind and will do many great things with it.
This is a really interesting business idea! Caleb Nelson is a great example of entrepreneurship because he was able to gain and investor through research and presentation and turned that into a successful business. Even though he plans to sell his business, it well be interesting to see how he carries forward the entrepreneurial lesson he has learned so far.
This entrepreneurial story of Caleb Nelson stood out to me because I see this idea back in my home! In Charlotte, NC after a panther’s game, I will see many of these wagons on bikes and I really think it is a smart idea. It seems to me that this was more of a side hustle rather than a business due to his willingness to sell before college, but it is awesome to see someone so young with so much passion!