‘Shark Tank’: 10-Year-Old Entrepreneur Jack Bonneau Is About More Than Selling Lemonade

It’s not unusual for a kid to start a lemonade stand. What is unusual is a kid who turns that stand into a thriving business, appears on Shark Tank, and is profiled by the New York Times. As the Times reported back in February of 2016, Colorado kid Jack Bonneau started to sell lemonade in order to earn money for a Lego Star Wars Death Star set. Jack was only 8-years-old, but his father set him up at the local farmer’s market, where he took home a profit of $900 over the summer. He not only got the toy, but he also learned about revenue and expenses, profit and loss, and other business basics.

Last Friday, Bonneau appeared on Shark Tank and landed a deal with Chris Sacca. Now 10-years-old, his business has expanded to an entreprise called Jack’s Stands, which partners with other young entrepreneurs who gain valuable skills and take home a bit of money. Jack was seeking a $50,000 investment, which Sacca offered, structured as an incremental loan.

As Denverite reported, shark Kevin O’Leary, known for his affinity for both royalty and venture debt deals on Shark Tank, teased the young business person for considering the deal.

“Jack, if you accept that deal, you will be the most in-debt 9-year-old I know.”

The terms proposed by Sacca were that the loan is disbursed $10,000 at a time, with a review of how the business is going after each installment. Sacca, the man who was an early investor in Twitter, Uber, Instagram, and Kickstarter, also urged Jack to start a video podcast.

In its review of the Shark Tank episode, Carter Matt posited they would not have invested because of Bonneau’s young age.

“It’s an amazing story, but when you’re not even a teenager yet, there are so many other distractions and you don’t often know what you want out of life.”

Apparently, things turned out pretty well after the episode was taped, however, as Jack posted a picture of himself with Sacca at an event just two weeks ago.

As the New York Times reported, this won’t be Jack’s first loan. In order to expand his lemonade business to stands in another three farmer’s markets, he received a $5,000 loan from Denver-based Young Americans Bank. The institution specializes in loans to children, and the funding was guaranteed by the nonprofit Young Americans Center for Financial Education. The center runs entrepreneurship programs at 420 schools and provides financial education to people between the ages of 6 and 21.

Before his Shark Tank segment aired, Jack spoke with a local Denver television station about the experience. As with all pitchers, he could not yet reveal that he’d made a deal with Sacca, but was able to elaborate on what it was like to sell his business to some high-powered investors.

“Pitching in front of the sharks, was like, unreal. There was a lot of preparation that went into it. But it was totally worth it. Just a great experience.”

He also revealed that even at the tender age of 10, he’s become something of a mentor to other young entrepreneurs. He said that’s a part of the Jack’s Stands mission that he most enjoys.

“I love just teaching the kids because it’s really going to benefit them in the future. I just love working with the kids and seeing them grow.

“We provide everything except for their mood and their enthusiasm. They’ll have to provide that.”

Of course, Jack isn’t running things on his own. His parents also assist, since the farmers’ markets have specific guidelines with which Jack’s Stands must comply. His father is a former nuclear engineer and current entrepreneur who owns a consumer goods business.

Shark Tank airs Friday nights on ABC.

[Featured Image by Alison Buck/Getty Images]