Fifth Grade Entrepreneurs Face Shark Tank

In partnership with an enrichment organization called Break Into Business, Mount Vernon’s fifth grade classes have been busy for months developing their entrepreneurship skills. This week the students–making up 16 small businesses–went before the “Shark Tank” in the Black Box Theatre to pitch their products before their formal launch at the Chick-Fil-A Home Office on April 29.
Not only did all teams come out unscathed, but they fared incredibly well in the Shark Tank. All of our Sharks commented on how impressive our students’ pitches and businesses were.
The Sharks included several school leaders: Bo Adams, Dr. Brett Jacobsen, Katie Jones, Ann Plumer and Allison Toller. Two external experts served as sharks in the afternoon: John Saddington, serial entrepreneur on the founding team of theironyard.com and pressgr.am and Sarah Crossman Sullivan, co-founder of seeitfit.com . On Tuesday they published and shared their account of the experience on the Entrepreneur Magazine blog http://www.entrepreneur.com/article/233252.
At the end of the experience four teams were selected for some prestigious awards:
Best Overall Business Potential:
Group 1: Kwazy Sweet Treats (Kanna House, Madison Mirro, Eleanor Maderra, Christine Turnbull)
Group 2: O Tay-Tay Factory (Dylan Gantt, Tabitha Nagy, Grace Strickland, Alma Merchant)
Most Creative / Innovative:
Group 1: Office Odors (Will Blair, Ray Wolf, Josh Mills)
Group 2: Peanut Butter Crunch Bunch (Charlie Hale, Tommy Carroll, Lincoln Parker, Gill Christian)
In order to be well prepared to launch their small business at the Chick-fil-A Home Office, the students have been following along with the 3 Ps of Entrepreneurship – Product, Price, and Promotion. They first brainstormed an amazing product idea and tested it through market research. The teams next developed a detailed budget of expected revenue and expenses. Finally, they launched extensive promotional campaigns by creating business websites, t-shirts with their logo printed on the front, posters, slogans, and more.
Given the hard work and creativity that these students have demonstrated thus far, there is no doubt the students are ready to LAUNCH! The students have elected to donate at least 10% of profits to Lighthouse Family Retreat, then they will split the remainder. A first taste of the rewards of business success – sure to inspire even bigger and better ventures down the road.
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