Ruth King elementary student Trevor Reid sells his knitted snakes for $2 each during a Young Entrepreneurs event at the school on Wednesday.

Ruth King students get savvy

A class of young entrepreneurs had the chance to show their stuff and sell their wares at Ruth King elementary today

A class of young entrepreneurs had the chance    to show their stuff and sell their wares at Ruth King elementary on Wednesday.

In the school’s gymnasium the Grade 4/5 students set up booths with all types of gimmicks to tempt other students and parents to make a purchase.

“The kids learn about how to start up business, create products, do market research,” said teacher Nicole Fletcher. “It was really good for them to have that set goal that they put a lot of effort into. They’re so proud of what they’ve created and they’re so excited about today.”

Student Kadyn Head decided to make wallets and snap bracelets out of duct tape. The wallets were going for $5 each and the bracelets ranged in price depending on their production run.

“(I’ve learned) many things,” Kaydn said. “How to make money, have fun and get lots of customers.”

Megan Hannem got her idea for small, handmade pot holders from a set she received for camping. She made 23 units and had sold five an hour into the sale.

“I heard how we were going to do this, so I thought it would be a good idea, because it’s Father’s Day coming up,” Megan said.

Many of the students had to take out loans from their teacher to get their product off the ground, which they then have to pay back from their sales. Each of the students are also donating 10 per cent of all their profits to a local charity, with most choosing the SPCA.

VanCity supported the program by donating workbooks and coming in to speak to the students about selling products, business plans and how to respond to feedback. He said one students selling beanbags decided to start selling two different sizes based on customer feedback.

“How to take feedback, how to use it. … It’s kind of neat just to see them think it through,” said Brad Finerty, assistant branch manager for Langford. “It’s really great.

“Financial literacy, just in general, for young people. To start them early and they get that background and the skills, they can grow up and have that mindset when they’re older.”

 

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