Seated at the plush conference table, he pulls out the prototype for the business he’s been working on for the past nine months. In preparation for this sales pitch, senior entrepreneur Chris DiNitto has familiarized himself with both the basics and each meticulous detail in his business. He wraps up his thoughts and begins the nearly half-hour long presentation.
“I created a prototype for the [website] that I’m not publishing; I want to license the idea to other individual companies,” DiNitto said. “I don’t have the time or resources to take it where it needs to or could be, so [the idea] would do better with a bigger company with more capitol.”
DiNitto’s soon-to-be-official business, Teen Jobs, functions under the motto “linking quality teens to local jobs” to emphasize the security and safety of using the particular ‘search engine’.
“Teen Jobs is not just a website, it’s a business concept and a database that finds and processes jobs for 14 to 21 year-olds,” DiNitto said.
The idea sparked from a struggle DiNitto faced during his own job search. Instead of brushing it off like most teens would, DiNitto turned the frustration into an applicable solution.
“We’ve talked a lot about the experiences youth have in searching for a part-time job while balancing school and other activities and the frustrations that go along with it,” DiNitto’s father, Martin said. “It also seemed apparent that businesses want a more streamlined way of finding qualified youth for employment; [and] that there must be a better way for youth and employers to get together.”
As an entrepreneur, many qualities are undoubtedly indispensable.
“I consider myself outgoing. I’m always thinking of these crazy ideas I can make money off of,” DiNitto said. “[I] finally found one that was scalable, marketable and practical … It was a lot of self-motivation really.”
DiNitto’s attitude toward jump-starting his business allowed for a rather swift launch.
“Chris takes a pragmatic approach to solving a problem and is good at using his communication and computer skills,” Martin said. “He can take an idea and run with it, but is also open to allowing others to input their expertise and improve the overall product.”
When faced with the challenge of how to further expand Teen Jobs, DiNitto opted for licensing the business instead of running it as a sole-proprietorship not only to provide the best future for his idea, but also to satisfy his own pursuits.
“My passion is creating the business – yes I will follow the business – but I want to continuously create new things,” DiNitto said. “I care about the drive in creating something and the satisfaction of knowing it’s helping people.”
In the process of licensing the business, DiNitto has already hired a lawyer to look over the written documents of legal confidentiality he personally wrote. All prospective clients are required to sign it in order to ensure DiNitto’s rights. He has also acquired appraisals of estimated worth by business professionals. The projected value of DiNitto’s business for licensing is currently $75,000 to $2.8 million. Details of the licensing process are vague, but DiNitto plans on licensing his business for one year. Then, if both parties reach a consensus, selling the company for an additional lump-sum of cash.
“I want to license it to the leader in the online employment industry,” DiNitto said. “I have already made contacts to business owners that are assisting me in this process to hopefully make Teen Jobs reach its full potential – nothing like this exists [yet].”
Teen Jobs is the first of its kind and all parts of the idea as well as designs are copyrighted and trademarked; the entire business is patent-pending.
Often times the development of a good idea seems the most challenging part, but in reality, additional effort is more than a necessity in forming a business. Spending more than four hours per week for the past nine months, DiNitto has mapped out a comprehensive report for Teen Jobs, including a 62 page business plan outlining DiNitto’s wishes for the company’s growth in the next five years.
DiNitto’s father has also served as great assistance in DiNitto’s journey.
“My dad is the biggest person I’ve bounced ideas off of,” DiNitto said. “He’s also an entrepreneur, so he’s faced some of the problems I’ve had to face.”
With his business commencing, DiNitto’s vision just months ago is about to become a reality.
“Do the right thing … visualize [the] success,” Martin said. “Build upon experiences and keep thinking big no matter what the challenges are.”