Thursday, February 11, 2016

Our store opens next week!!

Greeting from Commonwealth Corner Store (CCs for short)! That's the name that we have decided to give our student store that will open next week at lunch!! Thanks Amy E for the great name suggestion! The kids are all very excited to be open for business and start making some money.  Today we talked about profit vs. loss vs. break even.  We all decided that profit was the way to go!  We also talked about what goes into the price of a product, for example materials, labor (our time), gas to drive around and get things, supplies for running your business, etc.  We learned that although we may make $50 in sales, it does not necessarily mean that we made $50 in profit.  The kids are going to get a $25 grant from FILA to purchase their items for sale, then will reinvest their profits back into the business and expand their offerings.  They thought this was better than a loan from the teachers that would have to be paid back with interest.  They may also sell shares of their company in the near future to earn a little more capital and grow their business.  We need the kids this week to make some signs that can be displayed and will advertise who they are and what they are doing.  We may contact a few of them also to make signs with the prices of their items, but we have to see what we are getting and how much it will cost before we can do that.  They also went home with a small sheet that they can fill out next time they are at the grocery store that just asks for a product, its cost, and then a unit price if there is one.  We want to do some price comparisons next week.   We also need one small thing from parents.  We asked the kids to survey 5 people about what they would want to see sold at the store.  They were great at getting this done, the only problem is that they mostly asked their friends, so the list is pretty candy and junk food heavy.  We would like to have some quick feedback from moms or anyone else with a different perspective. The list doesn't have to be food specific either, we can sell other items as well (pencils and paper were suggested).  I will include a link to a brief 3 question survey that we would love if you could take a minute and fill out.  This will help us when we look to expand our inventory in the coming weeks.  Thanks so much for all of your support, I think this is going to be a great thing for the kids and the school.  Please don't hesitate to ask any questions. Also don't forget to check the presentation schedule from the previous post.

Teacher Becky + Teacher Shannon

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