Subscribe Via RSSTeenager, Molly Clegg, Buys Shop Where She Worked on Saturdays
Starting a new enterprise is never easy, but if you have the courage, determination and resources you can succeed.
So thinks teenager Molly Clegg, 18, from Lincolnshire who used her university fund to buy the jewellery shop where she has been working at weekends for the past year.
Molly combined her saving with a loan from her parents to buy the jewellery shop. She had just completed her A-levels and was considering going to university when the opportunity arose to take over Murano Silver in Market Deeping.
- Market Deeping is a market town in the South Kesteven district of Lincolnshire, England, on the north bank of the River Welland.
Molly, who has dreamt of working in the shop since she was a child, was thrilled when she managed to buy the business.
Molly says, “The shop opened when I was 10 and I used to go in and buy earrings with my pocket money, then I managed to get a Saturday job there about a year ago.
I had considered going to university, but I couldn’t decide what to study and when the opportunity came up to buy the shop I knew it was what I really wanted to do.
I feel incredibly lucky and love it so much, I don’t feel I am missing out by not going to university. I’m learning a huge amount on the job.”
The money used to buy the shop was a combination of Molly’s savings and ten years worth of savings from her parents. The money was in a joint fund intended for university.
Molly bought the business name, domain name, assets, and is paying a lease on the shop.
Molly left school with four A-levels and has always been entrepreneurial. When she was 13 she started making bead necklaces and bracelets to sell to her friends.
She now sells her own designs, under the label Made by Molly, as well as classic silver pieces and unusual mixed metal jewellery.
“It was rather a shock at first and it has been hard getting to grips with all the spreadsheets, but I am getting there. There’s obviously a lot more responsibility, but it’s fun as I get to choose the stock, which I love” she said.
“I have always loved jewellery and started making it out of kits when I was just six. As I got older I began designing my own and realised it was quite good, so I sold it to my friends.”
“I love the fact that a piece of jewellery can change a whole outfit. You could wear a plain T-shirt but if you added a statement piece it could look completely different.”
“My parents have been very supportive and help me out when I get stuck. My friends all think it’s great and are looking forward to seeing the shop when they’re back from university.”
Some of her suppliers have been surprised about her young age, Molly said, “I went to one showroom and they looked at me a bit puzzled, but I guess that’s kind of understandable because not a lot of people my age are in my situation.”
Simon Beardsley, chief executive at the Lincolnshire Chamber of Commerce, said, “This is a story of true entrepreneurial spirit, and I would like to wish Molly every success in her new venture. Young adults her age have so many options, with many choosing to go into further education. But Molly took the decision to invest in her own future by launching a business.”
At a time when most school leavers are starting courses at university or eyeing the first step on a career ladder, 18 year old Molly Clegg, is meeting with suppliers, dealing with customers and monitoring sales as a fully fledged business owner. Proof that there are many inspiring, hard-working, entrepreneurial teens out there.
