NYC Entrepreneurs Cash In on Election Celebration

November 6, 2008  

After Sen. Barack Obama was declared the winner late last night, the streets of New York were filled with pedestrians whooping it up on the streets, giving each other high-fives and fist-bumps. The celebrations were echoed in cities across the U.S., from Los Angeles to Washington, D.C. (where people swarmed directly to the White House gates).

The celebrations provided a great opportunity for entrepreneurs as well.

In Union Square in New York, entrepreneurs seized the moment, targeting the spontaneous crowd that formed. Amid the revelry, these entrepreneurs did brisk business, hawking stuff for customers looking to commemorate the historic night. Setting up makeshift tables, they sold Obama buttons, Obama caps, Obama T-shirts, Obama sweatshirts, Obama whatever.

On Election Day morning, Ryan Paonessa and his friends came up with the idea to sell T-shirts for with the Obama-styled logo “11.04.08 Today, I voted to change history.” Such a quick turn-around wasn’t easy, but it was worth it, he says. Spending about a couple thousand dollars, he was hoping to make a profit of ,000. (See my interview with him in the above video.)

What do you think of these election profiteers? Can they build on momentum and still be able to sell these Obama- and campaign-related products in the next few weeks?