A year 8 student from Alabama has created a product that the world wants to see, yet he has turned down an incredible offer of $41 million for the idea.
14 year old Taylor Rosenthal created a vending machine which dispenses first aid kits, he has called his company RecMed and has launched a website to tell the world about the idea he developed in a Young Entrepreneurs class at school.
The idea is for a vending machine that dispenses first aid kit to customers, for a fee. These vending machines would be sold to sporting arena’s, parks and other area’s where accidents have the potential to occur. The business would hold the license to re-stock the vending machines, plus they have the potential to place advertising on the machines themselves – creating an even bigger revenue stream.
The RecMed website states:
Whether you’re at a local youth athletic event, a national park, or in line for a roller coaster, accidents and injuries happen. RecMed’s goal is to ensure first aid kits are always nearby – no matter where you are. Perfectly packaged for kids and adults alike, RecMed First Aid Kits offer a revolutionary new way to purchase critical emergency supplies when you need them the most!
Since receiving the patent for his idea, the young entrepreneur has received many offers, one of which was a takeover offer worth $41million AUD.
What an amazing teenager! We are very excited to watch his idea take off. SHARE your thoughts with us in the comments below.
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