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“The Shark Tank” Challenge!. Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org. 8 th Grade Business Management Class. Students in this class: r un the School Store. learn about entrepreneurship.

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the shark tank challenge

“The Shark Tank” Challenge!

Nancy O’Connor

Wantagh Middle School

oconnorn@wantaghschools.org

8 th grade business management class
8th Grade Business Management Class

Students in this class:

  • run the School Store.
  • learn about entrepreneurship.
  • create the logo, slogan, price list, business cards, and radio commercials for the School Store.
  • conduct market research, buy new products, and advertise them to the student body.
business organization
Business Organization
  • Students may choose to work by themselves or form a new business with 1 – 2 other students (no more than 3 students)

Students may organize their new business as a

  • sole proprietorship.
  • partnership.
  • corporation.
  • non-profit organization.
judges
Judges
  • Approximately 9-12 business owners from community
  • Most of these judges have served as guest speakers throughout the semester and are familiar with the students
  • Positive role models
business cards introduction
Business Cards & Introduction
  • Students create in MS Publisher
  • Make enough copies to place one on storyboard and present one to each judge in first and final rounds
  • Students must introduce themselves to each judge at beginning of each round
  • Students will clearly state their name
  • Students will give each judge a firm, business-like handshake
  • Students will make eye contact while speaking to judges
elevator pitch
Elevator Pitch!
  • Use the last 60-minutes to summarize your main selling points of your business!
  • WHY should they invest in YOUR company above all the rest?
students are encouraged to
Students are encouraged to
  • speak with passion.
  • work as a team.
  • make an oral presentation without reading from slides.
questions from judges
Questions from Judges

STUDENTS MUST BE PREPARED FOR ANY OF THESE QUESTIONS TO BE ASKED AFTER THEIR PRESENTATION!!!

  • What was the biggest challenge you faced in creating your business? How did you overcome this challenge?
  • Where do you see your business in five years from now? Ten years from now?
  • If you had unlimited funds, what would you add to your business?
  • What special feature(s) makes your business unique from any other?
  • How do you intend to increase sales after year one?
prizes for photo op recruitment
Prizes for Photo Op/Recruitment

FOUR GIANT CHECKS DISTRIBUTED FOR PHOTO OP: (These checks were purchased with the NYSBTA Innovations Grant.)

  • Platinum, $100,000 to invest in business
  • Gold, $75,000 to invest in business
  • Silver, $50,000 to invest in business
  • Bronze $25,000 to invest in business
prizes for students
Prizes for students!*
  • Every student receives a $5 gift card
  • Every student receives a participation certificate
  • 1st place (Platinum) = $25 gift card to each team member (i.e. iTunes, Subway, movies, etc.)
  • 2nd place (Gold) = $20 gift card to each team member
  • 3rd place (Silver) = $15 gift card to each team member
  • 4th place (Bronze) = $10 gift card to each team member

*Profits from our school store are used to purchase prizes. However, you can solicit money/prizes from judges.

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Thank you for your time!

If you are interested in starting a project like this and need more information and/or help, please send an email to me at oconnorn@wantaghschools.org.

Best of luck!

Nancy O’Connor, Business Education Teacher

Wantagh Middle School