Overview: Students will develop and operate a business. Students will conduct market research, analyze the results, develop a business plan, and implement the business. After each day of operation, students will determine profits and losses based on their expenditures and sales. Students will graph and analyze the results to make decisions for their business.
The business described below was a “movie theater” my students ran during the last weeks of school. Students who earned the privilege could buy a ticket to a movie being shown on our SMARTBoard in the afternoon. We used our old-fashioned popcorn machine to give each student a bag of popcorn, using measurement tools to reinforcement concepts of volume. In the classroom next door we ran a concession stand. The students in my class each had a job (a sheet is included listing the jobs).
Before the “theater” opened, students worked in teams to do Market Research. They polled teachers and students to determine the interest in our business and help us decide on prices and services. The students also created advertisements to persuade people to become patrons.
We used the theater to learn about goods and services, profits and losses, entrepreneurship, math skills, etc. The next day after the “close of business”, we analyzed these elements and graphed the results. We kept several graphs to show how profits grew and analyze how our business was running (as well as reinforce math skills. This plan could be used with other student-run businesses. A movie theater worked in our “market” but perhaps a school store would be your business of choice.
Included: business plan, profit/loss sheet, list of possible jobs, coupons, market research sheet, possible bulletin board explanation, advertisement for teachers.