OPELIKA, Ala. – What started as just an idea for a entrepreneurship class has now expanded to a multimillion-dollar patented concept with an open door of opportunity for teenager Taylor Rosenthal.
Rosenthal, a 14-year-old entrepreneur from Opelika, Ala., is the creator and inventor of a first-aid vending machine.
“I make something called the RecMed vending machine. It’s a computerized vending machine that functions similarly to a Redbox machine but instead of it dispensing DVDs, it dispenses first aid supplies. So we put these at any high traffic places that kids could get hurt, so like amusement parks, all kinds of parks, recreational centers, conventions, football stadiums, baseball fields, everywhere,” Rosenthal said.
Rosenthal currently serves as founder and C.E.O. of RecMed, and has already had to make some big decisions about the future of his company. Recently, Rosenthal turned down a $30 million offer to buy his idea.
“A large national healthcare company contacted us and said we feel the idea is worth this, would you like to sit down and talk? It’s his company. He declined because he wants to at least get it started and see how it goes,” said Rosenthal’s father, Terry.
The teenager’s business is making big moves, and Rosenthal expects his company to only continue to grow in value. He was granted the patent for the RecMed idea last week, and he’s continuing to develop RecMed at Opelika’s Round House, an incubator for start-up businesses.
“We’re talking about closing in on investors in the next week or two, which we would then give some of that money to our team from Auburn University to actually produce the prototype,” Rosenthal said.
Even without the prototype made, Rosenthal still has been receiving business offers, including a pending order from Six Flags for the first 100 units.
