Sunday, December 9, 2012

Business as Usual

As part of our Business Math block, Arriana created a small business project. This project illustrates in a practical and real-world way many of the concepts we studied in this block: the usefulness of money, division of labor, percents, pricing, and more.

Since there's an annual Children's Craft Fair at our local Boys and Girls Club, and the timing was perfect, we decided to participate. All items are handmade completely by the children, who run their own table and transactions.

Arriana made most of the decisions about her business on her own. She knew right away, for example, that she wanted to make photo cards. She also wanted to make cookies, and we talked about how her customers could buy her cards as gifts for someone, and buy her cookies to enjoy during the Fair. It was a winning combination. Over Thanksgiving, Arriana learned how to make pom-poms, and then added some to her inventory. She also threw in at the last minute some bundles of dried sage.

Arriana determined her own pricing, including calculating her costs per item and considering her customers. She came up with $2.00 per card, and 3 cards for $5.00 (actually, I think her Dad came up with that last deal). Her pom-poms were a steal at $1.00. They are super labor intensive! Cookies were $0.50. Sage sticks were $1.00.

Handmade signs, twinkle lights, and a festive table cloth rounded out Arriana's table display. Sales were brisk on Fair day! Arriana did quite well, selling out of both pom-poms and sage sticks. She also fared well with her main product: the photo cards. They were a hit, and though she didn't sell out, she did make quite a good return. After all expenses were considered, Arriana earned over $40.00. She also had such a good time and wants to participate again next year!