St. Luke’s Episcopal School Trade Fair Friday March 6, 2015 Dear Parents, The ideas have begun swirling around us as your children anticipate the time honored tradition of the St. Luke’s Trade Fair! In preparation for the event, we will be passing helpful information to you so that you can stay appropriately informed and involved. Trade Fair “lessons” will primarily be taught through math classes. Students in grades 5 through 8 will work in groups of four to design, propose, plan, market, and execute their trade fair “business.” Students may choose a partner to work with from their class and teachers will assign pairs to work together. All Trade Fair information and documents will be shared with your children on google drive and can be found on the SLES website. For a list of business specifics, please see the Trade Fair Q&A. All students are expected to be full participants in the process and in the fair itself. Trade Fair offers a real-world entrepreneurial experience in business. The process is comprehensive and involves a profit and loss sheet that accounts for material costs, labor, gross profits, net profits and charity donations. Collaboration and organizational skills are also reinforced in this project. While there is freedom to choose the name, logo, etc. for a business, students are required to create their own products using purchased or recycled materials. With imagination and creativity flowing, our young entrepreneurs may just come up with the ‘next big thing!’ Pending approval, services and home baked goods are also options. (Lunch will not be served that day as it is an early dismissal day.) Included in this packet is a calendar of important due dates, business ideas from Trade Fairs past, a business plan guideline, blank copies of the business proposal, business plan, checkbook, and profit/loss statement. The calendar of events and the explanation of these items will be managed by your child’s math teacher in the coming weeks. After a business plan is approved, careful record keeping of costs is crucial for this project to be a successful teaching tool. Please keep receipts for purchased items. In keeping with the theme of cost management, materials and cash donations from adults will not be allowed. After the fair, ‘businesses’ will pay back costs to the contributing adults and a 10% charity fee. The students will then be able to split the profits among their group. Together, we can make this an enjoyable and educational memory for your child! We thank you in advance for your support of this tradition and look forward to seeing you on March 6. Please feel free to contact your child’s math teacher or me for any questions or concerns you may have. Sincerely, Susie Parker STEM Department Chair, St. Luke’s Episcopal School
February 2015 Sun
Mon
Tue
1
2
Wed
Thu
3
Fri
4
Sat
5
6
7
13
14
Trade Fair information packets go home
8
9
10
11 Business proposals due to math teacher
15
16 President’s Day School Holiday
22
17
18
Business proposals due To math teacher
19
Return business proposals to students. Introduce business plans to students
23 Advertising posters due at morning carpool
12 Business proposals due to math teacher
20
21
Business plans due back to math teachers
24
25
Posters hung
26 Posters judged
27
28
Trade Fair flyer sent home w/ items for sale and prices
March 2015 Sun
Mon
Tue
1
2
Wed 3
Thu 4
Assign booths
8
Fri 5
Tape floors 12-3 Booth set up 4-6
9 Spring Break
10 Spring Break
11 Spring Break
7
13
14
TRADE FAIR 9-11:30
12 Spring Break
Sat 6
Spring Break
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Trade Fair Day -‐ Friday March 6, 2015
7:30-‐8:00
Parents/students may drop off items in the gym
8:00-‐8:10
Students report to advisory
8:15-‐8:30
Chapel
8:30-‐8:55
Set-‐up booths
9:00-‐11:00
Trade Fair hours of operations
11:00
Clean up begins
11:00-‐11:25
Team Leader from each business must check out with math teacher -‐Completed Profit Loss Statement with ALL receipts -‐Charity Fee of 10% paid to school
11:30
Early dismissal. No Lunch/No After School Care
*** For your convenience, booths may be set up and decorated on Thursday March 5, 4pm-‐6pm
29) Pin It 1) Muoustache Maniac
Trade Fair Q&A Who participates in Trade Fair? ● 5th -‐8th graders sell their goods and or services as group partners with 4 students to a group ● ALL students, faculty, staff and visiting parents are customers. What type of merchandise/services/entertainment may be sold at Trade Fair? ● School approved, home made products, foods and services ● Use your imagination! What items will NOT be allowed at Trade Fair? ● Live Merchandise ● Cascarones, silly string, colored hair spray (or any other flammable product in a can) ● Any toy, game, or food/beverage considered unsafe for children, including dry ice ● Disappearing ink ● Karaoke machines ● Video games ● Anything involving getting wet or spilling water ● Branded merchandise ● Jails of any sort ● No raffles or games of chance What are the guidelines for Trade Fair? ● Merchandise/service proposals will be approved on a first come, first served basis by the Trade Fair math teacher committee ● Some duplication of services may be allowed. ● Businesses are assigned an 8x10 booth space and must restrict their business to this space ● All parents are encouraged to attend. Parents should, however, limit their participation to that of a spectator and booth set-‐up assistant only and not that of a business partner. This allows students the thrill of successful entrepreneurship. ● Businesses choosing to rent equipment must produce a good or service and must have a rental contract with the cost clearly stipulated. Rental costs of equipment may not exceed $75.00. ● Every item must be assigned a cost. Nothing can be donated. Receipts are necessary at checkout time. ● 10% of a businesses profits are paid to SLES and will be given to charity
● Gloves must be worn when handling food items. Gloved students may not handle money. ● Only students are allowed to run a booth. What am I, as a merchant, responsible for bringing to my booth on Trade Fair Day? ● Start up change of $25.00 (Quarters and $1.00 bills) in a reliable money box, pencil, paper ● Table, chair, and or merchandise display structures (please label) ● Booth decorations (optional), with appropriate necessities to put them up (tape, scissors, etc.) ● Electrical extension cord (labeled), if approved beforehand ● Trash bags for clean up ● All receipts and completed profit/loss statement due before you leave What is the advertising poster? ● Each business must prepare one poster board (size 22x28) advertising their products or services ● Due on Monday Feb 23 at morning carpool ● Business name, product(s) or service(s) you are selling and the selling price(s) must appear on poster ● Your full names, grade and math teachers name must be listed on the BACK of the poster (student names on the front of the poster will be disqualified from judging) ● Misspelled words or brand name labeling on posters will be disqualified from judging
BUSINESS PROPOSAL
St. Luke’s Episcopal School Trade Fair March 6, 2015 (Only ONE proposal per business) DUE TO MATH TEACHERS: Wed Feb 11 -‐ Fri Feb 13 Business Partners: (4 to a team) Name__________________________________ Advisor_________________ Name__________________________________ Advisor_________________ Name__________________________________ Advisor_________________ Name__________________________________ Advisor_________________ Lead student contact name:_____________________________________________ Products or services offered for sale. Please be specific: Will you need an electrical outlet?__________________________________________________________ If yes, what will you need electricity for?__________________________________________________ __________________________________Office Use Only_____________________________________________ Date and time of application:___________________________________________________________________________________ Date of approval:____________________________________________________________ St. Luke’s Trade Fair
Trade Fair Business Plan Guidelines
As part of the Trade Fair experience, all groups are required to prepare and submit a business plan. A Business Plan is necessary to start a new business. It is an organizational tool for the entrepreneur. By answering some key questions BEFORE Trade Fair, you will have more confidence in your business. The more you know about your business, the better chance your group will have to succeed. Your business plan should include the following categories: • Business Name • Business Goals • Target Market • Estimate of Costs, Sales, and Profits • Assignment of responsibilities among partners BUSINESS NAME: We know what you are selling, but under what name will you market, or sell your product? For instance, would Krispy Kreme be as popular if the name was A Sugar Coated Donut Store? BUSINESS GOALS: Be very specific and exact about what you are selling. Will you offer a service or a product? Will you be manufacturing products or purchasing them for resale? Some of you have listed many items to sell. This is the time to think about the logistics of making and displaying ALL these different items. SALES & MARKETING: Who exactly will be buying your product(s)? Will you market to younger or older students? Will you market to all ages? To help you decide this, we are providing you with the demographics of the St. Luke’s student body that will be present at the Trade Fair. AGE GROUP TOTALS PK-‐3 & PK-‐4 41 nd Kinder – 2 Grade 97 rd th 3 – 5 Grade 87 6th – 8th Grade 97 TOTAL 322 For example, you have decided to sell bookmarkers. Your group decides together that both boys and girls would buy bookmarkers. After further discussion with your partners and observations of younger siblings, your group decides that only children in PK3-‐PK4 would buy bookmarkers. THAT is your TARGET MARKET. Your advertising (poster) should be geared towards your target market.
FINANCIAL: ESTIMATE OF COSTS, SALES, AND PROFIT: You know your product and who will buy it. If you know that, then you can estimate costs, sales and profit. There are 41 potential buyers of your bookmarkers (number of PK3-‐PK4 students at SLES). Will ALL of these children buy bookmarkers? How many other bookmarker sellers will be there? The Trade Fair booth list says there is one other booth selling bookmarkers from you. You have decided to sell your bookmarkers for $2.25 each, so: SALES 41 bookmarkers @ $2.25 $92.25 COSTS 41 bookmarkers@ $1.00 -‐$41.00 GROSS PROFIT $51.25 10% paid to SLES for charity -‐ $5.13 NET PROFIT $46.12 ASSIGNMENT OF RESPONSIBILITIES AMONG PARTNERS: This is a very important step. Decide among yourselves NOW what the different responsibilities will be before, during and after TRADE FAIR. You must all agree who will perform these duties. Using our bookmarker example, again: Who will: o Make the poster (All partners should share this part) o Make bookmarkers? (All partners will share this part) o Bring bookmarkers? o Bring start up change? o Bring tables, decorations? o Bring pencil, paper, and calculator? o Bring electrical cords (if needed)? o Bring trash bags? o Work the different shifts in booths? o Clean up? (All partners will share this part) o Fill out profit/loss sheet and check out with math teacher?
Business Plan Example
Partners: Mary Jones, Jen Garza, Michael Smith, and Joe Taylor Business Name: Wacky Bookmarkers Business Product/Service: We will make and sell fun, crazy colored bookmarkers. Sales & Marketing: Our target market is children in PK3-‐PK4. We will advertise our product with a colorful poster and by decorating our booth at Trade Fair. Financial: Estimate of Costs, Sales and Profit: There are 41 children in our target market and there is one other booth selling bookmarkers so we believe that we could sell 27 bookmarkers. SALES 41 bookmarkers @ $2.25 $92.25 COSTS 41 bookmarkers@ $1.00 -‐$41.00 GROSS PROFIT $51.25 10% paid to SLES for charity -‐ $5.13 NET PROFIT $46.12 Assignment of Responsibilities: All of us will make the bookmarkers. Mary has agreed to bring the start up change. Jen will bring the table and pencil, paper and calculator. Michael will bring the trash bags and decorations. Joe will bring the poster and check out with the math teacher. Below is out schedule for the day of Trade Fair: 8:30-‐9:00 Mary, Jen, Michael and Joe (set up/decorate if not done earlier) 9:00-‐9:30 Mary and Michael 9:30-‐10:00 Jen and Joe 10:00-‐10:30 Mary and Jen 10:30-‐11:00 Michael and Joe
BUSINESS PLAN
ST. LUKE’S EPISCOPAL SCHOOL TRADE FAIR MARCH 6, 2015 PLAN DUE TO MATH TEACHERS: FEBRUARY 20, 2015 (Only one plan per business) Partners:______________________________________________ ________________________________________________ ________________________________________________________ ________________________________________________ Business Name:_______________________________________________________________________________________ Product or Service:___________________________________________________________________________________ Proposed Sales & Marketing/Advertising:_________________________________________________________ Financial: ESTIMATE of Costs, Sales, and Profit: SALES (what do you expect to earn?) $_____________ COSTS (what are your costs?) -‐ $_____________ GROSS PROFIT (sales minus costs) $_____________ 10% Booth Rental to St. Luke’s $_____________ (given to charity) NET PROFIT (gross minus 10%) $_____________ Assignment of Responsibilities: What is each partner responsible to complete. (Be specific.) Below is our schedule for the day of Trade Fair: Assign times for each partner to be at the booth. 8:45-‐11:30 9:00-‐9:30 _____________________________________________________ 9:30-‐10:00 _____________________________________________________ 10:00-‐10:30 _____________________________________________________ 10:30-‐11:00 _____________________________________________________ 11:00-‐11:30 CLEAN UP (ALL PARTNERS SHARE IN CLEAN UP)
PROFIT/ LOSS STATEMENT
Business Name: ________________________________ Booth Number:_____ Total money at end of Trade Fair
$___________
Money for change at start of Trade Fair:
-
$___________
(Change provided by: _____________) EQUALS:
$___________
(total sales)
************************************************************************ TOTAL SALES: COST OF SUPPLIES:
$_____________ (subtract)
- $_____________
PROFIT EQUALS:
$_____________ (profit/loss)
10% Charity Fee TO SCHOOL: Profit X .10 =
- $_____________ (charity)
(Profit minus 10% charity fee equals net profit) NET PROFIT EQUALS:
$______________ (net profit)
NET PROFIT $ ____________ divided by number of members _____= $ ______________ (profit to each member)
Accepted by _______________________________ Date: _____________
St. Luke’s Trade Fair