A shocking lesson in entrepreneurship

Mon, Mar 27th 2023, 08:08 AM

A Sts. Francis & Joseph (SFJ) teacher tells the story of realizing a student was bringing slime to school and selling it to her schoolmates. She made the student return the money to her peers as selling personal products on school grounds is against the institution's policy. She then reported the incident to administration, as she had to. This is an all too frequent occurrence. Rather than punishing the children and telling them not to do it again, the school administration decided to make a listen out of the incidences and take a more effective, innovative route that would also be educational. They came up with the idea of hosting "Everyone has a dream... What's yours?" Pop-Up Shops on Friday, March 17.

Tiffany Glass, SFJ principal, and Deidre Cooper, SFJ vice principal, decided on a school-sanctioned pop-up shop to which 25 student entrepreneurs across grades three through six would be allowed to showcase handmade products in St. Joseph's Church, which they were then "legally" allowed to sell to their peers on school grounds.

Glass said she came to realize punishing students sometimes does not get to the root of a problem, or correct negative behavior. With that in mind, the students who were caught selling items on campus were questioned to find out why they were breaking a school rule. In most instances, she said she learned the student was saving money for an item they wanted to purchase or just wanted extra money to spend. Based on their responses, Glass said she understood that the students knew the value of working for the things that are needed in life.

"As a Catholic School, we not only emphasize academic, social, and spiritual development, but we try to build our students' financial skills, so that when they become adults, they will be able to function effectively in society. One of the expectations from the profile of the Catholic School graduate is that each student should be financially adept. In other words, we help our students to become aware of the importance of work and its relation to finance."

The idea of the pop-up shop was the result of further discussion with staff members.

"It was essential to have all stakeholders involved in order to make the initiative not only successful but meaningful for the young entrepreneurs.

The criteria for the students were that the items had to be made by the child and the participating students had to be in grades three to six. All participants were taught how to determine their selling price and taught lessons on breaking even.

Students took advantage of the opportunity to sell everything from handmade bracelets, slime, comic books, painting, hair accessories and stickers to fellow students, teachers, parents and friends during the pop-up shop.

In the business partnership with the school, 25 students were allowed to retain 90 percent of their profits and had turn over 10 percent to the school. In insisting in the 90/10 split, school officials sought to teach students the importance of giving back.

In total, the students made $2,228.10.

The school's 10 percent cut totaled $313.30.

The school will use its cut to assist with general development projects. Students each also paid $10 to register for the opportunity. Registration was on a first come, first served basis.

Amelia Francis, eight, a fourth-grade student, who sold scrunchies and slime, made the most money. She walked away with a $196.20 profit after the 90/10 split with the school.

"I was really surprised that I made so much [money] because there were so many other people selling the same thing - slime and scrunchies," said Amelia.

Kerene Fielding-Calvin, an SFJ sixth-grade teacher, said it was her hope that the pop-up shop participating students saw themselves as young entrepreneurs.

"Students who will dream about the things that they want to achieve, and when they get older, they are not afraid to go after it. They should have higher self-esteem to put their dreams into action, plan how to achieve their desires, and implement their ideas effectively to make a positive impact on society.

"It is also my hope that they enhance their social skills. They were able to communicate with the customers in a very polite and respectful manner. They were able to encourage people to purchase the items that they were selling and to advertise their products well. Most importantly, it is my hope they are more innovative, creative, critical thinkers, risk-takers, and are able to turn ideas into actions," said Fielding-Calvin.

Catalaya Scantlebury, a 10-year-old fifth-grade student, who has been making beaded bracelets since she was eight years old, took the opportunity to sell her bracelets at the pop-up shop. She aspires to one day owning her own business.

"I think working for someone else, you do not have as much time to spend with your family and there is a bit of control. Working for myself, I would get to create my own schedule and have my own time," said Catalaya.

For Malia Basden, a third-grade student who makes bows, the pop-up market was her first experience.

"This is my first time going to market. My friends bought some of my bows and that encouraged me to start making and selling more bows. Being a young entrepreneur is very exciting. Sometimes people come back, sometimes they don't. But it is very fun."

Mitzi Jones, math specialist at SFJ, said she hoped the students learned important business skills which she said would benefit them in the future.

"These skills will teach the students that they don't necessarily have to work for someone to be successful or make a living," said Jones. "They can be successful through spending time on their own business. I hope they were also able to learn about personal responsibility and the value of a dollar."

Jones said in the lead-up to the pop-up shop, the students also learned math skills and were able to calculate their earnings. She said they were also able to calculate their profit to put toward their future business deals.

Khaleb Taylor, a sixth-grade student, sold handmade bracelets which she began making approximately seven months ago. Before the market at her school, Khaleb said she sold her bracelets roadside on weekends.

Fifth-grade student Abhigail Smith brought paintings, recycled keychains, and cell phone and eyeglass holders to the market.

"I have just been making my products and giving them away for free; this is the first time I am selling them," said Abhigail. "Being an entrepreneur is fun, it is fun to make stuff. Sometimes it is hard to sell, you may have to change the prices up or down sometimes."

Glass said she found the pop-up shop overwhelmingly successful.

"The students and parents not only embraced the opportunity to show their child's talents but saw it as an opportunity to get friends and family members involved. The students had the opportunity to learn about budgeting, marketing, and the value of money. They now understand that when they get older and join the workforce, it is wise to have a business of their own."

Glass said they are looking forward to the pop-up shop becoming an annual event.

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