At an age when most children can be puzzling over the subsequent new online game, Noah Cahoon, 13, was taking into account how you can expand his father-son business, Paper Box Pilots .
Recently, Cahoon was featured at the ABC pitch show, Shark Tank , where he was offered $35,000 for an entire half the business from Kevin O’Leary , a superstar within the toy industry. And O’Leary was not the one shark to bite.
Since childhood, Noah Cahoon and his entrepreneur father, Brian, have created decals for cardboard box planes as entertainment for Noah after which for his younger brother, Milo.
They decided last year to start printing and selling the decals, offering Brian Cahoon the business venture he’d always craved, in addition to the chance to show his son in regards to the business world. At the official Paper Box Pilots website, Noah Cahoon explains :
“We thought it’d be a good option to bring the stickers back to life. Not only did we print some for Milo but we decided it might be really useful to get them professionally printed and offer them online so other kids could enjoy our airplanes. Dad has always desired to start a business and now that I’m the right age we found something lets do together.”
The venture have been an excellent experience for both father and son, giving Brian Cahoon a opportunity to follow his entrepreneurial interests while his Noah Cahoon is supplied with an exquisite business education.
But in step with Brian Cahoon, Noah is fascinated by every sale and design aspect of the corporate and, in lots of ways, is the company’s true leader. On Shark Tank, the 2 asked for 25 percent equity in exchange for $35,000 and mentorship to assist accelerate the compamy’s growth.
In the tip, three ‘sharks’ jumped on the opportunity. One, obviously, was O’Leary, who has made deals with huge brands like Mattel Toy Company before. Another was investor Robert Herjavec , who proposed $50,000 for half Cahoon’s company in keeping with O’Leary’s offer. Finally, investor Barbara Corcoran chimed in, offering $35,000 for a 35 percent stake.
Thirteen year old Noah was left to make the verdict on his own, acting as full CEO of the business while his father waited at the sidelines. After three offers were placed on the table, Brain checked out his son and said:
“You’re the CEO, and it’s ultimately your decision.”
In the top, Cahoon chose experience over money, taking the $35,000 from O’Leary in exchange for his knowledge of the industry and stunning the alternative sharks. Cahoon explained that ultimately O’Leary’s connections and expertise have been the deciding factors. Not a nasty decision for a 13-year-old CEO!
Meanwhile, Cahoon has many plans within the pipeline for his company. Paper Box Pilots has already expanded into making stickers for cardboard box race cars and fire engines. And the corporate also has plans to launch a line of pre-made box toys soon.
Images: Paper Box Pilots