This year, the Junior School introduced a new and exciting enrichment club to students in Grade 4 and 5 called Young Entrepreneurs. The goal of this club is to foster a better understanding of financial literacy, business sense, innovative and critical thinking, and effective communication skills. In September, students began by thinking about the wants and needs of their target market and collaborating with each other to brainstorm different product ideas. Once students committed to an idea, they had to approach their investors (parents) to secure funding for their big idea. Young Entrepreneurs then could purchase materials to begin building inventory. Students created businesses, logos, and advertisements. They learned about the design cycle and that ideas are always evolving and changing. Some students learned that failure is an option: some learned that their ideas did not work, then went back to the drawing board to modify their existing product or develop a new one altogether. In December, the Young Entrepreneurs hosted a Market Day where their businesses came to life. After a school-wide advertising campaign, Young Entrepreneurs opened for business and sold their products to the Elmwood community. It was a great success! Any profits will be re-invested in their businesses next term—we look forward to learning from this experience and continuing to enhance the entrepreneurial spirit here at Elmwood!
Fun. Awesome. Cool.
Young Entrepreneurs taught me more about business. My favourite part was Market Day and selling my product. We didn’t just make something, we got to make inventory and sell it using real money. I also got to direct the commercial for Market Day using iMovie.
Best Club Ever!
The Market Day was my favourite part because first of all I got to create my very own business and Market Day was a test to see how successful my ideas were. It was great to see the progress throughout the term, from brainstorming ideas all the way to creating inventory to selling our products. My product was unicorn ornaments. I bought a normal-looking Christmas ball, then added clay horn that I made, 3-D flowers made out of paper, and I personalized it to some people who wanted their names.
Fun. Creative. Cool.
My favourite part was when we got to sell our products on Market Day. It was so nerve wracking because it was a risk to see if people would buy my products. My product was called a cantern which was a recycled can that I punched holes in, attached an LED light to a pipe cleaner, and it made a lot of light.
Creative. Fun. The best club ever.
I created a company called Bracelets and Bling. First, I came up with my product idea. Then I borrowed money from my investors and I created inventory with it. My goal was to make more money than the amount I borrowed from my investors. With my profit, I am thinking of reinvesting in my business, but to create a new product line. I am already thinking of new ideas!