Students taking Entrepreneurship at RD Anderson opened their stores for business last week. Students running these businesses learn the importance of balancing their money bag, keeping accurate records of inventory and money intake, and customer service skills.
These students determine a business they would like to start and spend time researching online and visiting stores to get the prices of items they would like to sell and/or materials they need to make their product. After they have gotten the prices they need to sell or make the products, they then have to determine how much it will cost them to purchase or make one unit. Once we determine the cost of goods sold, students will then price their items so that they make a profit from their sales.
Each business is set up in the back of their entrepreneurship classroom and students who attend RD Anderson are invited to come shop.
The students run their businesses steadily for approximately 2 months. They must complete a business plan, keep inventory and handle financial decisions to help them determine their actual profit at the end of the semester.
This is a wonderful experience for the students to help them understand the responsibilities involved in starting and running a business steadily and successfully.
These students determine a business they would like to start and spend time researching online and visiting stores to get the prices of items they would like to sell and/or materials they need to make their product. After they have gotten the prices they need to sell or make the products, they then have to determine how much it will cost them to purchase or make one unit. Once we determine the cost of goods sold, students will then price their items so that they make a profit from their sales.
Each business is set up in the back of their entrepreneurship classroom and students who attend RD Anderson are invited to come shop.
The students run their businesses steadily for approximately 2 months. They must complete a business plan, keep inventory and handle financial decisions to help them determine their actual profit at the end of the semester.
This is a wonderful experience for the students to help them understand the responsibilities involved in starting and running a business steadily and successfully.
