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Soap Making Company - Understanding Business Basics for Kids

Explore the world of business through St. Wilfrid’s Soaptastic Enterprise Day! Learn how businesses operate, make profits, manage costs, and avoid bankruptcy. Discover the roles within a company and start your own soap-making venture!

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Soap Making Company - Understanding Business Basics for Kids

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  1. St Wilfrid’s Soaptastic Enterprise Day!

  2. So what is a business?

  3. Businesses can be all sizes Large • Small Medium

  4. They all have one thing in common. They try and make a... P_ _ _ _ _ ? P R O F I T

  5. What do business do?They can make a product.

  6. What do business do?They can provide a service.

  7. What do business do?They can sell things.

  8. Today we are going to run a Soap Making Company!

  9. Our customers have to pay for our product or service. What do we call this? S e l li n g P r i c e S _ _ _ _ _ _ P _ _ _ _

  10. What does our business have to pay for? C o s t s C _ _ _ _

  11. If you take the costs away from the selling price, you are hopefully left with a… P R O F I T

  12. If you don’t make a profit, your business could go… B _ _ _ _ _ _ _ B a n k r u p t

  13. Roles in your company • Marketing Directors • Finance Directors • Two Production Managers (who make the soap!) • A Managing Director (can be something else as well)

  14. The first things you must do are:1. Get into your groups 2. Name your company 3. Decide your roles

  15. Who is my customer?

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