Each time a kid asks for money, parents have an opportunity to teach something larger about ownership. Mikey’s Munchies is a vending machine business spearheaded by 12-year-old Michael (Mikey) Wren and the company was born out of such an experience. At the age of 7 Michael wanted money for a snack out of a vending machine. His parents explained to him that all the money he spends on vending machine snacks goes to the owner but if he owned the vending machine, it would go to him. A light went off then and today Mikey’s Munchies has a vending machine footprint across St. Louis.
When Mikey initially expressed interest in the business, his folks told him to research the industry, write a business plan, figure out where to get the startup cash and how to go about buying the machines. He needed $4,000 to get started so along with his best friend, Mikey decided to run a lemonade stand. The pair raised $1,200, which inspired friends and family to donate money, also. Mikey’s Munchies became a reality, starting with 2 vending machines and quickly growing to 7. Along the way, Mikey has learned quite a few lessons about entrepreneurship and navigating your own course and he’s more than happy to pass along the knowledge.
Mikey is author of Mikey Learns About Business, a best seller on Amazon. He also published Biz Is a Wiz, a book written for children pre-K to 3rd grade. Mikey also gives back to the community in other ways, such as sponsoring “munchies stations” for family and youth events around St. Louis. Further, he’s a kid board of directors member on KIDBOX. KIDBOX is a children’s fashion subscription service with a core mission of clothing over one million children in need. Although he’s plenty busy as an entrepreneur, Mikey still makes time for some of his favorite hobbies, like playing basketball and video games.