Charity is the bottom line for young entrepreneurs
The fourth-graders at Park City Academy are getting down to business. For the second annual Market Day on Dec. 8 students opened their own businesses and raised a little over $1,200. Proceeds were donated to the Christian’s Children Fund.
Under the instruction of Sally Gutman, the fourth-graders at Park City Academy are participating in a classroom unit about business. From November to January, the students cover a variety of topics.
"We talk a lot about businesses, how to create businesses and what types of businesses are appropriate for certain areas," Gutman said.
Then the fourth-graders are given an opportunity to apply what they’ve learned by creating a business of their own. The students think of a store name, create a product and market it through posters that are hung in school hallways.
Gutman said Market Day helps students understand the nature of business along with "how and why businesses start, and what it takes to run a business."
For Market Day the fourth-graders set up their stores in the gym. Among them were The Itchy Dog, which sold dog collars, Macram from Yesterday, which had a variety of macram products for sale including necklaces, and Amazing Magnets and More.
One innovative student sold marshmallow blow guns made from PVC pipes. His inventory sold quickly.
Following Market Day, the students learned about the costs of running a business. The young entrepreneurs filled out an analysis sheet where they had to take out 10 percent for rental fees and taxes, and then subtract expenses to figure out their profit.
"A lot of them are surprised about the cost," Gutman said.
The students at PCA put a new twist on a program that Gutman taught at other schools before coming to the academy.
"The idea of giving money to charity, I’ve never seen that done," she said.
Many students liked the program and may become entrepreneurs in the future.
"Overall they love it. They become very enthused and a lot of them want to sit around and talk about other businesses they might do," Gutman said.
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