This semester, 20 Year 6 students participated in Maker Kids, an exciting educational program designed to teach kids to launch their own business. The goal of the program was to create a product to sell at the Primary Parent Portfolio Evening at the end of Term 3. Students had to either collaborate with others or hone their skills individually to set up their business, as well as learn the vital entrepreneurial skills of business, finance and marketing.
At the beginning of the process, we had to brainstorm ideas of potential products and compare the ease, length of time and money it would take to get the product ready. From there, we chose our final idea that we were going to sell. We were given the freedom to change this idea throughout the process, as well as the people within the group.
We then had to get specific and focus on our business, marketing and financial plans. Within our business plan, we had to include what our business was about, along with our vision, values and mission. In our financial plan, we had to include our start-up costs and how many products we would have to sell to make a profit. In our marketing plan, we thought creatively about how we could set up signage with our logo on it to stand out from everyone else.
The launch of our market stall was the best part of the whole experience! There was a lot of anticipation about selling our products. People came to our stalls and were impressed by the high quality of the items. The stalls, which were set up near the Year 1 and 2 classrooms, were a huge success with everyone making a profit. Each stall donated at least 50 per cent of their profit to charity.
After the market stall evening, we planned what we would do with the money we raised, with some students deciding to save their profits, while others reinvested the money into continuing their business. We also took the opportunity to thank those people who were an integral part of setting up our business, such as family and friends. It was a fun opportunity to learn about finance in the real world and we really enjoyed the Maker Kids program.
By Edward Hambling and Lucas Collings