Sixteen-year-old entrepreneur Leanna Archer was the youngest CEO to ring the NASDAQ stock market bell. She was also the youngest person to be featured in INC Magazine’s “30 under 30 list.”
At nine years old, Archer began her own hair and bodycare product line using her grandmother’s old recipe made from natural ingredients like avocado, almond, hibiscus and rosemary oils.
Archer started with zero capital in 2005, making her mixtures in the basement. After bottling the mixtures in her little brother’s old baby food jars, she began giving away samples to friends at school. Soon after, the offers to pay for her concoction came pouring in.
Against her parents’ initial wishes, Archer continued to produce and sell her products that have now grossed over $100,000 in profit. She admittedly saves part of her profits for a trust fund and with part of the remainder, she maintains the Leanna Archer Foundation for Education, which has helped over 200 children in Tabar, Haiti stay in school, eat and live a better life.
Archer has been recognized by Fortune 500 companies such as Apple, Inc. to be a part of their 2010 Education Leadership Summit featuring young executives. She’s been on BET’s “Black Girls Rock” and was recognized by Black Enterprise at their Teenpreneur’s conference. The young businesswoman has even partnered with Janet Jackson through her foundation. The two have planned a trip to Haiti together.
As far as her own education, Archer would like to attend law school in the future. She hopes to build a revenue base exceeding $300,000 by the end of the year. In the meantime, Archer is recruiting “Kid Reps” throughout the country to help spread the word about her product.
For more information on Archer’s product line, go to Leanna’s Natural Hair Products website.