Young Entrepreneur - Alexander Niles
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Alexander Niles and his guitar.
Alexander Niles, 14, a high school freshman in Miami with dreams of making it big as a musician, is young to be focused on making a living. But he has already become an entrepreneur.
It all began by accident, he said. He was late in handing in his choices for elective classes and landed in a course on business. For an assignment to write a business plan, he turned to his passion, guitars, and decided to create a business building custom guitars for other people, something he had already done for himself.
After refining his idea in class, Mr. Niles entered his business plan into a local competition sponsored by the National Foundation for Teaching Entrepreneurship and captured the grand prize for South Florida, which allowed him to compete in a national competition in New York this fall.
The price for his guitars starts at about $2,000, and he expects to make a profit of around $700 a guitar. So far, he has made four, including one for a former instructor, Alex Fox, a flamenco guitarist who has endorsed Mr. Niles’s company. Mr. Niles has set up a Web site, but he does not plan to start filling orders until he has lined up other endorsements, finished his YouTube video and started establishing his brand through an advertising campaign.
Though Mr. Niles has years of school ahead of him, he said he planned to tend to both his music and his business along the way.
