As part of a unit of study on entrepreneurs, third grade students were tasked with building a business and creating a business plan.
They borrowed “money” from “the bank” to start up their business and had to buy materials from “the store.”
They had to figure out what their prices would be in order to make the most profit.
Their teacher, Ms. Gina, said it was amazing to see the students in action. Most were very conscientious about their start-up costs and tried to find ways they could not spend as much money up front by thinking of what they could make that didn’t have a large up-front cost, but that would sell well for a good price.
At the end of the day, they had to see how much money they earned by subtracting start-up costs from profit.
Ms. Gina said that students really enjoyed this project and getting a feel for what it might be like to be an entrepreneur some day.
The class also studied famous entrepreneurs, entrepreneurs from our state, and local entrepreneurs. Ms. Cindy form our school came in and talked to the class about her small business as part of the kick-off for this unit.