Students start their own business - WALB.com, Albany News, Weather, Sports

Students start their own business

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February 20, 2004

Valdosta - South Georgia has a new business, but its owners and managers are all under the age of 12. Friday, fifth graders at Southeast Elementary held the grand opening of their school store, "Fridays."

"It's a store where customers can buy what they need," said Sheba Lee, Fifth Grader. "We're selling hand made jewelry, school supplies, candy, snacks, buttons, and book bags," said Ann Finney-Williams, Teacher.

From marketing and advertising, all the way to taking inventory, these students have learned everything it takes to start their own company. "They've learned how we spend our money, why things are priced the way they are, learning how to work together and get along," said Finney-Williams.

Guiding the students in their business endeavor are VSU's Students in Free Enterprise. "We taught the students how to run balance sheets and income statements, the four P's of marketing," said Casey Kennedy, SIFE Member.

They even loaned the students money to start their store. "It's a $1500 loan, but they won't have to pay it back," said Kennedy. "What we're hoping is that they'll use the money they make from Fridays to start a savings account."

Along with learning the basics of business, they're also gaining some valuable life lessons. "Most importantly, they're gaining self confidence that they can do something because they've started a business and that's a huge deal for anyone," said Kennedy.

The store will be open every Friday for the rest of the school year.

posted at 3:00 by ashley.harper@walb.com