Reminders for your business!

1.  Figure out if you need tables at your location.  Ask Mrs. Brake to set that up
2.  Don't forget change!  Bring at least $20 in change!  If you price your product at .25, .50, or .75, you only need to get quarters (not dimes, nickels, or pennies).   Plus, bring at least $10 in one-dollar bills
3.  Advertise the day before!  Customers forget about your business.  Your job is to remind them that it exists AND that they want your product!

Advertising Guidelines

Guidelines for Advertising around Campus:

•  Ads must be approved by teacher.  We check for spelling, grammar, etc...and make sure all the elements are on the Ad.
• Food sales Ads go up one week before event.  Workshop or Party event Ads need to be up 2 weeks in advance.  This is for your success. 
• NOTICE!  THIS IS NEW INFORMATIONS! Ads can only be placed on Middle School areas which are designated for Entrepreneurship (they say "Support your Spartan Entrepreneurs). There is one in front of the middle school office;  the other is near the faculty workroom.   You can create a monitor slide, which your teacher will forward to the correct people.
• Lower School: Stairwells and bulletin board in LS are fine, if you talk to the secretary first.  
• Only use sticky tack on painted walls.  On brick walls, you can use tape, since it leaves less of a mark.
• Lunchtime "commercials" are an option, but must receive prior approval from Dean Dokken (MS) or Mrs. Eubank (LS). You also must get permission from teacher if you are leaving a class to make the lunchtime announcement.  You cannot say, "Mrs. Brake says I need to..."  If they say no, then you cannot do it. 
• Advertisement poster or monitor slide must contain:

1. Name of Business
2. Logo
3. Slogan
4. WHAT the business is selling (the product or service)
5. Contact Information
6. Date and Time
7. Location
8. Cost
9. Must contain this phrase, for purposes of business office:      "This is an Entrepreneurship class business.  20% of the net profit will go to (fill in name of donation center you chose)"

5th and 6th grade TERMS TO KNOW!

­­­5^th & 6^TH  grade ENTREPRENEURSHIP TERMS TO KNOW!

Entrepreneurship: means developing, organizing, and managing a new business or enterprise. It also refers to "solving problems for profit"

Goods or Products:  a tangible item that you can see, touch, and sell to others

Service: work or labor performed for others in return for a fee

Start-up Costs: expenses or cash investments to start a business 

Income/Revenue:  the total amount of income earned prior to paying for expenses (and taxes)

 (Income – Expenses= Profit)

Net Profit: the income earned after all expenses are paid

  

Cost of goods: direct expenses to produce, manufacture, or purchase the products or services you sell to customers

Cost of Goods Per Unit:  the amount it costs to produce one item (for example, the cost to make one brownie...)

  

Target Market: Referring to consumers in the economy, a Target Market is the group of consumers you are aiming to sell your product or service to.  Your advertisement will reflect the type of customer you hope to entice.

Fixed Costs: Costs to a business that remain the same and are predictable. For example, rent or mortgage that has been signed by contract will remain the same.

Variable Costs: Costs to a business that can change on a regular basis (unpredictable.) For example, a lemonade stand might have to face the changed costs of lemons bases on how successful the lemon season was.

Manufacturer:   Makes the good or products

Wholesaler:  Buys products in large quantities from the manufacturer and sells to a retailer

Retailer:  Buys products in small quantities and sells them directly to individual consumers

Venture Capitalist:  An investor who either provides capital to startup businesses or supports small companies that wish to expand. Venture capitalist are willing to invest in such companies because they can earn a massive return on their investment (think "Shark Tank").