Nov. 5, 2015
Market Day Supplies Lunch Favs
by THS Media Gregory Miranda
Every year students carry little bit more cash on them than usual. Due to the always highly anticipated two day event known as Market Day hosted by the Youth Entrepreneurs class lead by teacher Erica Hart.
“Market Day is for the students to learn marketing strategies as well as terminology that they encounter throughout the day,” Hart said. “It's a perfect time to gain experience if they ever persuaded a business by themselves.”
The task at hand was for groups of students to create a business from the bottom up with a starting loan: this included what they choose to cover as a start up cost, then they evaluate how to price their product by student taken surveys. While taking under consideration of advertising and utilities as well as floor space or school real estate.
From when Market Day kicks off at first lunch shift, until they've sold all of their products. The businesses find out how much they made minus the start up cost which makes up the profit which is allocated between team members for theirs to keep. All this ultimately teaches students what it takes to run a business, what goes in and what potential problems could arise, as well as the potential pay off if you provide a desired product or service.
The two day event consisted of students' favorite Pizza and included other favorites such as Chipotle, Yogurtini, homemade nachos, baked goods and even a beverage stand.
“Our decision to sell pizza was a no-brainer, it's always the most popular and easy to do,” said Fetty Wap's Pizza employee Ethan Crownover. “I expected us to do well but we did better than expected and we learned so much during it.”
Market Day made a whopping profit close to $4,000 making it the highest profiting Market Day at Truman.
"The groups worked well together and learned a lot about running a business," Hart said.
Which is fitting because of how extensive the project truly is for those involved and it’s because of this hard work during school hours and even off the clock that really makes Market Day such a success here at Truman and always a highlight of the year.
“Market Day is for the students to learn marketing strategies as well as terminology that they encounter throughout the day,” Hart said. “It's a perfect time to gain experience if they ever persuaded a business by themselves.”
The task at hand was for groups of students to create a business from the bottom up with a starting loan: this included what they choose to cover as a start up cost, then they evaluate how to price their product by student taken surveys. While taking under consideration of advertising and utilities as well as floor space or school real estate.
From when Market Day kicks off at first lunch shift, until they've sold all of their products. The businesses find out how much they made minus the start up cost which makes up the profit which is allocated between team members for theirs to keep. All this ultimately teaches students what it takes to run a business, what goes in and what potential problems could arise, as well as the potential pay off if you provide a desired product or service.
The two day event consisted of students' favorite Pizza and included other favorites such as Chipotle, Yogurtini, homemade nachos, baked goods and even a beverage stand.
“Our decision to sell pizza was a no-brainer, it's always the most popular and easy to do,” said Fetty Wap's Pizza employee Ethan Crownover. “I expected us to do well but we did better than expected and we learned so much during it.”
Market Day made a whopping profit close to $4,000 making it the highest profiting Market Day at Truman.
"The groups worked well together and learned a lot about running a business," Hart said.
Which is fitting because of how extensive the project truly is for those involved and it’s because of this hard work during school hours and even off the clock that really makes Market Day such a success here at Truman and always a highlight of the year.