They say not all heroes wear capes.
We can add that not all heroes are adults.
An 11-year-old boy from Brooklyn, New York named Obocho Peters has been running his thrift shop, Obocho’s Closet, which specializes in selling baby and children’s clothing and footwear at a price that low-income families can afford.
But it doesn’t end there. The shop also provides free financial literacy seminars so that these same low-income families can learn how to save money.
“Obocho’s Closet is a children’s thrift store that was launched on April 27, 2018, because I wanted 8 toys from the movie Avengers Infinity War, but my mom couldn’t afford it after paying all the bills,” explained Obocho. “For my 11th birthday, I opened my first physical location in the community at 495 Flatbush Ave. so that families can come and shop, and I can meet and greet my community.”
He continued: “The store sells clothes and shoes for children sizes 0-20 with a goal to help families save the extra money for their children’s college funds.
The majority of the store is no more than $10. To support my community, I told my mom that I wanted to create a give-back that the community needs. So, a portion of the money from the thrift store goes towards free financial literacy seminars and workshops to teach families about credit development, budgeting and other creative ways to save money for those college funds or become an entrepreneur like me.
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It all started when Sasha, Obocho’s mother, told him that she couldn’t afford to buy him Avengers: Infinity War toys. She was upfront about the financial difficulties she had been going through. Instead of moping about, Obocho got inspired to sell his unused clothing and shoes so he could buy his toys.
In an amazing display of maturity for one so young, Obocho realized that there were probably other families who were going through something similar.
So how does an 11-year-old entrepreneur go about running his company?
Obocho described his typical day:
“I go to school from 8:20 am to 2:40 pm. After school, my mom picks me up and we go to my store to first do my homework and then eat. Once my homework is done, I join my mom in taking care of some of the business with the store. My mom quit her job for my business, so she does most of the work while I am in school. When we leave the store sometimes between 7:00 pm -9:00 pm, I go home, eat again if I’m hungry and get ready for bed.”
He continued: “BUT, every night I must always play with my toys, especially my Beyblades. My mom lets me do this because this is what keeps me grounded as a kid. My mom taught me when I first started my business that having balance and being a kid through this whole process was going to be the most important part of this journey. Playing with my toys makes me happy.”
Obocho started the business by selling his used clothes online in 2018 under the name Obocho’s Closet. Soon after, he started selling donated clothes for less than 10 dollars so that low-income families could afford it.
And as many other entrepreneurs found out, running one’s own business is challenging.
Obocho explained: “The most challenging part of running my own thrift store is getting financial support.
My business is a for-profit with a business model usually associated with a non-profit. It is a challenge when people want to help by giving financial donations, but when they find out I am a for-profit, they always say they can’t help.”
Obocho went on: “In the beginning, it used to make me sad because I didn’t understand why not, but now my mom helped me understand.
So, I have to work 10 times harder because I have to keep myself and my business up and running. It is a lot of work, but I enjoy the process and I am learning so much. I had to start a GoFundMe—it takes care of the store and makes sure I can continue to put on the free financial literacy seminars and workshops while I grow my business because I told my mom I don’t want the community to pay for the education.
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To help him open up a physical location in New York, Obocho put up a GoFundMe campaign that has raised more than $13,000 so far. Aside from operating costs, the funds will also pay for vendor licenses, promotions, and, equally important, go towards funding the free financial literacy seminars.
Obocho’s efforts have inspired so many that he was even awarded the Hero of the Month award in June 2019. Eric Adams, the President of the Brooklyn Borough, cited Obocho’s sense of obligation to give back to those who needed it as a reason for giving the award.
This young boy doesn’t just have a bright future. He already has a bright present.
Replaced!