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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. Students in this class: r un the School Store. learn about entrepreneurship.

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“The Shark Tank” Challenge!

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  1. “The Shark Tank” Challenge! Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

  2. 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.

  3. 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.

  4. 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

  5. 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

  6. Storyboard

  7. PowerPoint Presentation

  8. 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?

  9. Students are encouraged to • speak with passion. • work as a team. • make an oral presentation without reading from slides.

  10. 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?

  11. Judging Rubric

  12. 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

  13. 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.

  14. 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

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