Wouldn't it be convenient to have a washer-and-dryer-in-one for a cramped downtown apartment? It could spew your clothes out in half the usual time. Call it the Wyer.
How about getting a personalized meal at a restaurant prescribed by an in-house nutritionist? The Nutri-Buzz Market & Cafe promises to be just that. And who likes to wait for a movie rental to show up in the mail? Move over, Netflix; here comes NetFly, offering movies on demand. Just click and download.
The sales pitches yesterday for those ideas and others were clever, the presentations loaded with business jargon.
Only this wasn't an international trade show. This was 27 students on seven teams from across the region and from six other states showing off their business savvy after spending three weeks in the University of Maryland's Discovering New Ventures course.
The ideas presented in College Park reflected the futuristic dreams of 16- and 17-year-olds. The pitches were marked by perky enthusiasm from some and serious business candor from others.
"As you can see, Netflix made $500 million last year. So it's time for them to get out of the way and let NetFly in," said Byron La Fleur, 17, of Boyds, as he urged parents and guests to invest.
His father, Bruce La Fleur, an entrepreneur himself, sat at the back of the room videotaping his son's debut in the business world. "He's quite the character," the elder La Fleur said after the presentation by his son's team. "I have to say theirs was the best. They were upfront with investors who want to know how much do you need and when do I get my money back."
Byron, a senior at St. John's College High School, said he had no plans to take over the family business, lottery publications. He wants to major in international business and do his own thing.
Jordana Kauffman, 17, of Olney got laughs from guests during her presentation when she mentioned that her father, Phil Kauffman, would sit on the board of directors of Nutri-Buzz. As an employee of the Department of Veterans Affairs who is running for a seat on the Montgomery County school board, she said, he has contacts that are sure to get the company going.
"I certainly would invest," Phil Kauffman said. "I thought it was a great idea." Jordana's mother, Beth Kauffman, a nutritionist, added, "I'm very impressed that she learned all this in three weeks," she said.
Learning key aspects of business ventures
James Green, the program's instructor, said the students learned the financial, legal, accounting, marketing and planning aspects of business ventures. They will earn three credit hours.
"The tenacity, the work ethic is certainly very strong. They showed great creative mind-set to come up with the initial ideas," said Green, an associate director of the university's Hinman CEOs program.
By the end of the course, the students seemed almost like professionals. But some, such as Amanda Bernstein, 17, of Vienna, said they didn't realize how hard it would be to build a business from the ground up.
The students said they planned to use their backgrounds to guide their careers.
"Since I live on the outskirts of D.C. and my parents work for the government, I'm really interested in PR and starting my own firm," Bernstein said.
In contrast, Adam Peretz, 16, of Lighthouse Point, Fla., said teenagers in his home town have lots of time on their hands and wallets full of cash. His goal is to start a nightclub for teenagers with his father, he said.
The university's provost, William W. Destler, said the program showed that it's never too early to encourage the next generation of entrepreneurs.
"Most new jobs in this country are created by small and emerging businesses," Destler said. "It's going to be the young entrepreneurs who drive our economy and sustain our standard of living."
