Henderson Middle School Young Entrepreneurs Learn Money Management Through “Shark Tank Junior” | News
“Shark Tank” is a hit reality series that has aired on television since 2009. On the show, budding entrepreneurs have the opportunity to make business pitches to a panel of five investors, or “sharks,” who decide whether or not to invest in their products or business and turn their dreams into reality.
One day, one or more of these entrepreneurs may come from Henderson Middle School, where STEM lab teacher Dr. ‘cents’: Shark Tank Junior”.
Students learn about modern innovators and inventors and what they have created, then Williams encourages them to work individually or in small groups to develop their own products and businesses. Before starting their projects, they research an innovator or inventor of their choice and use their research to inspire and guide them while creating their own innovation or invention.
“Students have to build a business from scratch,” Williams said. “Some students have made real products, some have made dummy products, but this is a business and the kids are going to pitch their ideas to our Sharks for possible investment in their business.
“They really had to have a good business plan, make business cards, flyers, brochures, websites to sell their products. They need to be able to explain their idea, who they’re going to market it to, how much it’s going to cost, how much they plan to sell it, what their profit will be, how much money they’re looking for from Sharks, and what percentage of their business they’re looking for. are willing to give to the Sharks for their investment. And students can trade with the Sharks if they want.
The Sharks are fellow HMS teachers, as well as Jackson Mayor Carlos Duffey and Ameris Bank branch manager Melissa Harris. They have up to 100 Paw Pounds that they can give to students as an investment in their business. Paw Pounds are Henderson Middle School money that students can earn to buy school things. HMS Director Dr Suzan Hyatt has approved up to 100 Paw Pounds to be given to students for their investment in the products.
The first round of Shark Tank Junior took place on February 4. Among the student products featured at the Sharks were Kas Kups, Crypto Craz, Peace Affirmation Pillows, Miracle’s Affirmation Bracelets, Water Lamp, Shoe Washing Machine, Hydro Hoodies, Wonderful Wreaths, Joyous Bottles, Bellz Scrunchies and Nexus Outfitters.
After the first round was over, Williams reviewed all of the student scorecards written by the Sharks. Then she met with the entrepreneurs and reviewed the ratings. Students who did not receive investments have the opportunity to make changes and return to the Sharks in Round 2 on March 4.
Williams said not all of her students made it to the Shark Tank, but they were all working on their businesses and learning financial management.
“Over the next four weeks we will be talking about the students who have had their businesses approved and we will put fake numbers to give them a chance to figure out what they have to give the sharks and what they will be. able to keep,” she said. “So we’re going to plug in some numbers so they have that experience and have an idea of what it looks like. I expose them to other entrepreneurs and we have this conversation about money management.
Williams is leaving the school system on March 11, after serving as a college principal in the Atlanta area. But she said she hopes this class can become something for the whole family.
“I talked to our Title 1 coordinator about doing a parent workshop on money management,” she said. “I want parents to know how to invest, get a mortgage, especially with new community development looming across the street from school, and if necessary, even how to balance a checkbook.”
Williams also hopes her students will continue with their products and businesses.
“There is a tentative activity called Market Day pending Dr. Hyatt’s approval, for parents scheduled for May,” Williams said. “Kids who have made real products can build them for the next three or four weeks and sell them on market day for real money. I have eight or nine kids who really want to promote their projects and that parents come to buy their real products.