00:00In the Money
00:02A lot of people dream about being rich
00:14But actually trying to get there can bring you down to earth fast
00:19But suppose you could start a business with no cash and no experience
00:24When you're barely old enough to drive
00:26Check out three young entrepreneurs who did exactly that
00:31Using strategies that would make the richest CEO proud
00:35Kaylin Cage used credit to build a candy empire
00:39She started out selling snacks to classmates and teachers
00:44But instead of spending her profits
00:46She invested them in two small vending machines
00:49And convinced a couple of local businesses to install them
00:53Hey, it was a pretty good day
00:55By high school, she was ready to expand the scope of her enterprise
01:00But
01:01I needed to buy more than one machine and I didn't have the cash to do it
01:05Her solution?
01:06Credit
01:07She got her mother to co-sign for a $4,000 line of bank credit
01:12Essentially a loan
01:13So she could put bigger machines in more venues
01:16I've even got some machines in this building
01:19She had two years to pay back the loan
01:22And she paid it off in three months
01:24February payment
01:26March payment
01:27April payment
01:27By the time she graduated
01:29Kaylin's Candy Catering had netted a sweet profit of $10,000
01:34Ethan Holmes started his business by cooking up a great product
01:42He used his grandfather's recipe to make an awesome applesauce
01:45Then he created a distinctive brand to separate his product from all the others
01:51100% all-natural applesauce made with Ohio Farm Fresh Apples
01:56He pitched his product to potential investors
01:59My name is Ethan Holmes and I am the founder and CEO of Holmes Mouthwar and Applesauce
02:04His story helped him win a contest for young entrepreneurs and get crowdfunding from ordinary people online
02:12That gave him capital to expand his business
02:15And on weekends he trained students in the kitchen
02:18Earning this slogan for his sauce
02:20Four kids made by kids
02:23It's yet another part of the brand image that helped put Holmes mouthwatering applesauce on supermarket shelves all across Ohio
02:31When she was 14, Willow Tufano went with her real estate broker mother to check on an abandoned home she'd just sold
02:41A lot of stuff had been left behind to be thrown out
02:45And Willow asked if she could have it
02:47She had an idea that's important to any business
02:50Buy at a low price, sell at a higher one
02:53And that began her career of turning other people's trash into treasure
02:58She found cheap stuff at garage sales and in dumpsters and sold it online
03:03Soon that recycled trash grew to $6,000 in cash
03:08That's when she asked her mom if they could buy a house together
03:11And at 14, she became a homeowner
03:14After fixing up the property, she rented it
03:18Within a year, she had saved enough to invest in a second home
03:22I'm hoping in, I'd say like 5 to 10 years, I'll have bigger houses, apartment complexes, buildings, and bigger things
03:31If she keeps buying low and selling high, she'll be well on her way
03:36Real estate mogul
03:40Applesauce tycoon
03:42Vending machine queen
03:45Three kids who started small but weren't afraid to dream
