Utterly Meaningless » Blog Archive » A YOUNG “ENTREPRENEUR”?
  • A YOUNG “ENTREPRENEUR”?

    Filed at 5:41 am under by dcobranchi

    This press release actually got me to click over with this:

    The good will aspect of Christmas has apparently vanished this year in favour of commercial exploitation. This is the conclusion of a 13 year old boy who set out to raise funds for charity, only to discover that few are prepared to give even £1 (less than 2 dollars).

    His venture, www.TreeOfNames.com has attracted over 70,000 visitors, yet few have taken the next step and paid the nominal fee. Nicky John from South Wales devised the website to raise funds towards the Noah’s Ark Appeal building the first dedicated hospital for children in Wales and for specialist education provision.

    …Being home educated the project started as an exercise in business studies. “The final model evolved after many trials”, Nicky explained.

    “Without having to deal with traditional international boundaries the Tree Of Names has unlimited scope for expansion”. His goal; “a forest of trees, containing names and messages from every continent”.

    An HEK raising money for a charity? Sign me up. I clicked around the site trying to find out what the charity does, and this is what I found:

    Noah’s Ark Appeal

    10% of all income to this site will go towards funding The Teenage Cancer Unit in the New Children’s Hospital in Cardiff, Wales. This is part of The Noah’s Ark Appeal (charity reg number 1069485).

    He’s pocketing the rest. So far, it appears that he’s cleared over $130k.

    7 Responses to “A YOUNG “ENTREPRENEUR”?”


    Comment by
    Rikki
    December 16th, 2005
    at 7:28 am

    From his site:


    Nah, not making a mint, but a good amount to fund courses he wants to take to further his education. 🙂


    Comment by
    Rikki
    December 16th, 2005
    at 7:29 am

    hmm, well the blockquote thing didn’t seem to work, so here’s what i was trying to quote: Having been asked where the money goes, here is a quick breakdown of costs….I think you will be surprised (I was!).

    Based on £1 payment – 25% to PayPal, 20% for hosting, domain and technical costs, 20% taxation, 10% marketing, 10% charity appeal, 10% home education fund, 5% accountant/admin fees. So, nope I’m not making a mint as been suggested!


    Comment by
    Jill
    December 16th, 2005
    at 8:20 am

    25% goes to PayPal?? Is that the same paypal I use to receive money for Ebay payments? I don’t think I pay 25% of my take….


    Comment by
    Daryl
    December 16th, 2005
    at 10:17 am

    And his webhosting has to be the most expensive in the world. I run about 100,000 visits per month and pay $10.


    Comment by
    Daryl
    December 16th, 2005
    at 10:32 am

    Err, I just checked the stats. It was 160,000 pageviews last month. Only 40,000 visits.


    Comment by
    Andrea
    December 16th, 2005
    at 11:18 am

    25% for paypal is way too high. I doubt they take more than a single digit percentage. And yeah, some expensive webhosting…$26,000 ??? over how long? Must be those “technical costs”.


    Comment by
    Sandra
    December 16th, 2005
    at 1:35 pm

    Paypal is high when payments are low because you’re paying a fee plus a percentage to them. So, a $1.99 sale amounts to about 15% in Paypal fees. A $12.99 sale amounts to about 6% Paypal fees.

    Usually, though, large and small sales added together bring the Paypal fees to a more reasonable percentage. He is basing his estimate on one pound.