Mind Your Own Business

Working with Harvard business school graduate and University of Washington business professor Steve Hanley, All 5th grade students designed their own businesses from top to bottom. They began with a market survey, applied for a mock-Washington state business license, applied for a business loan, learned about wholesale prices, ordered materials, built a product and sold the product. Each step of the project was documented and accurate bookkeeping happen. All money earned from selling products was then deposited into a classroom bank, all banking records were kept by individual students as well.

****This project was then extended into Let’s Do Launch!!! After all 5th grade classes take part in the economic social studies project, Mind Your Own Business the profits made from the items sold went to buying each classroom 30 Estes model rockets. In May, all 5th grade classes then went through a rocketry unit, culminating with the building and launching of model rockets they purchased with money made by their own businesses.

As a group you will need to:

Name your company___________

Choose a:
Business manager- responsible for everyone in the group
Accountant- will keep track of all the merchandise and accounts receivable
Employee: will be in charge of making the product
Publicist: will be in charge of advertising

Accountant:
Date: Item sold # of items sold $$