It's Never Too Early to Start a Business
For the third year in a row, the Grade 5 students at John Maclure Community School are participating in the Power Play Young Entrepreneurs program. The Young Entrepreneurs program is a great way for these students to inquire, explore, and learn about different aspects of running a small business. The program walks students through key elements like goal setting, market research, product development, money plans, and advertising. The students begin the process by conducting market research, either in person or virtually, with the younger students in the school. During this research phase, they learn what kind of handmade creations might sell best and the options that their potential customers are interested in. The students then develop prototypes or make changes to their plans based on the information they gathered.
Once they have a product, they begin the process of producing a large quantity of product that they will try and sell during the school fair. Each item is reasonably priced to ensure younger students can purchase them, another valuable learning experience. The Grade 5 students create colour advertisements and videos to promote their products leading up to the fair. This all culminates in a day long Entrepreneur Fair, where the students set up displays and sell their products to the staff and students at the school. Prior to COVID-19, the school fair was also opened in the evening for parents. The opportunity to demonstrate the learning for our families was a huge success, and something we hope to be able to do again in the future. Following the event, the grade 5 students review their experience, thinking about what they have learned and what they would change if they were to run a business in the future. Finally, the students donate a minimum of 10% of their profits to a worthy cause, such as Children's Hospital or the BC Cancer Agency. The program is a success thanks to the support of our entire school community. All in all, a fantastic learning experience with real world implications.