DOLLARS AND SENSE - Biz Smart Kids

411 on Warren Buffett

Billionaire Warren Buffett was born August 30, 1930 in Omaha, Nebraska. His nickname is the "Oracle of Omaha" because he is such a wise investor. Buffett owns a company called Berkshire Hathaway which is made up of lots of companies such as Fruit of the Loom and Geico.

Warren started making money as a young child. He would go door to door and sell gum, Coca-Cola and magazines. When he was in high school he delivered newspapers and sold golf balls. One of Warren's most successful ventures was buying a pinball machine and putting it in a barbershop.

Warren still lives in Omaha in the same house he bought in 1958. His favorite restaurant there is Piccolo's where he always orders a root beer float.

Seven Easy Steps to Starting a Car Wash Business

You want money for that new video game? Want something fun to do this summer? Well I have your answer. Put down your PSP or DS, pick up a hose and a sponge this summer and start your own car washing business.

Starting your own car wash business is simple and easy. Jones, Elena and I have done several of them. You can start one right in your own neighborhood and include your friends. We've put together a quick car washing business guide to get you started.

Step 1. Come Up With a Simple Business Plan
Coming up with a plan first can really help your business be a success. The business plan is the who, what, where, when and why. For example, how much should you charge? Should trucks cost more than cars? How many friends do you want to help? What's the best location? Are there other car washing businesses in the area? If so, how will your business be different? How will you advertise? What materials will you need? Why do the business in the first place!? Read on to steps 2-5 for the 411 on each of these questions.

Step 2. Set Your Price
It's best to start with a low introductory price to lure customers in. You should also charge more for large trucks versus small cars. $5-7 per car and $8-12 per truck is a good starting point. As your company becomes more established you can raise your prices!
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