Henry Coward is the founder of cashback business, Tollz. He’s also in year 10.
While most of us at 15 were simply navigating the foods we could eat painlessly with braces while hustling to submit an English assignment, Coward spends his afternoons talking to business partners, and managing the operations behind his brand new company.
The unusual extra-curricular choice originated with a nudge from his mum to enter the University of Queensland’s Young Entrepreneurs competition. Students had to pitch an idea that would benefit the community, and Coward’s choice was easy.
He wanted a cashback program that, by spending at participating retailers, Aussies would be rewarded for showing local businesses some love, and — most importantly — save money on tolls.
“I’m basically taxied around almost every day going to other activities,” Coward told news.com.au. “So I see how much tolls are a real effect in our lives. (I wanted) to create something that’s going to support us especially, and be able to reduce those costs.”
Coward won the competition, along with $1000 to start his own business.
After winning his prize money, which alone impressed Coward’s nine-year-old brother greatly, the high school student was off and running.
“(Winning $1000) really kind of just validated the idea for me. And then I needed to be able to actually start the business and start looking at ways to actually get all the structure ready, to get the trademark and the domain.
“Part of setting up the business was mainly done with my dad because he’s started up businesses before so obviously, I need him as well, because I’m under 18. But just being able to learn all about that, it was really cool.”
Tollz, built on a partnership with cashback system Super Rewards, enables customers to gain credit to their Linkt tolls accounts for every purchase through participating retailers, including Big W, Virgin, Liquorland and Booking.com. The site has already gained over 300 users since being launched this year, with Henry’s parents among those saving their dollars.
“Mum and dad have already earned hundreds of dollars’ worth of toll credit, which means their next 30 toll trips are free, and all they had to do was sign up to Tollz.com.au and buy the clothes, coffees, food and travel they were spending money on anyway.”
Coward says that the effect of Covid-19 on businesses, coupled with the burden of the cost of living crisis on Aussies begged a solution, whereby people could be rewarded for spending money.
“I’m just trying to do something that’s going to help people. I think Tollz is a win-win for everyone to be honest. It’s helping businesses, it’s helping customers, and it’s just supporting the people around me.”
Today, Coward says the operations of the business are managed by him, with help from entrepreneur mentorship program BOP industries, which his school allows him to invest time in weekly.
His day-to-day workload involves “talking with Super Rewards to try and make sure all the software is up to date and there’s no problems with the website … trying to talk with people and trying to update the website. create content and blogs.
“There’s a fair bit of stuff I’m doing.”
In between business hours, the Brisbane-based teen is still attending school, maintaining a social life, and having a hit of golf when it’s not too “hectic on the business side of things”.
He says that despite already running a business that could well be his future, he still values going to school like any other young person, if even just to “learn how to learn.”
“So, trying to create an assessment. You can do it in less than four hours, two hours, or three hours, if you actually put your mind to it, and you’re able to apply what you’ve learned. So being able to do that, that’s what you can actually bring into the business side of things. And that’s what I’m trying to do at the moment in school, mainly.”
Coward says his school has been supportive of his endeavours, particularly by allocating him two hours per week to work on his business and be mentored via BOP Industries in the Brisbane CBD. However, he says that he wants to see more programs emerge in schools to help students to ideate and build businesses.
“There’s so much learning you can get out of creating business as a 15-year-old. And you can use that learning for the rest of your life. And plus, if all goes to worse, you’ve got a very, very good resume.”
And Coward’s resume will be well-stocked, as he urges more businesses to “get on board” with Tollz, with future plans in the pipeline that could see the rewards program expand to bus tolls, ferries, trains and more.
“(I’m) growing Tollz as much as I can at the moment. And then trying to take it down another country or path, if all goes well.”