Mini – Mall Economics Project
Summary
A successful business takes a lot of planning and research. Understanding a market, then providing a service or product (on a limited budget) to meet the need of that market are benchmarks for success. This project will give each student a unique opportunity to experience the business world while incorporating math, writing, economics, and cooperative learning.
Objectives
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Due Date
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Introduce activity
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March 27
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Group Members and product submitted to teacher to be approved
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April 1
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Design a product or service and create a prototype or visual of the product
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April 5
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Create Budget
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April 8
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Fill out and turn in Loan Application
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April 12
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Develop ad campaign (create signs/create & rehearse commercial)
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April 15 – April 19
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Morning Show Commercial will be taped (be prepared)
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April 22 – April 26
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Posters due for ad campaign
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April 29
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Commercials will air on the Morning Show on the week of April 29****
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April 29 – May 3
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Conduct your business during Mini Mall
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May 3
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Chart profits/losses and complete evaluation
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May 3 – May 10
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****Machines are NOT permitted at Mini Mall due to the Hillsborough County Safety Guidelines. This includes: crock pots, fondue machines, popcorn machine, snow cone machine, blender, microwave, etc. Foods needing any of these machines need to be prepared at home ahead of time. Please see your teacher if you are unsure if you can use a machinenotlisted above.
In order to give the students a real life experience, we are allowing each business to borrow an amount, not to exceed $40.00 to berepaid with verification of receipts at the conclusion of the business day. They may borrow from a parent, use their savings, or the 5thgrade fund. Each business will fill outONEloan application and haveONEco-signer (an adult).
We ask that you help keep the expenses to $40.00 to be fair to all students.
The profits that the students make will be donated to the Universal Studios Reward Trip Fund.
In lieu of cash profit payouts, awards will be given out for different categories such as:most creative, most items sold best booth, most profit earned, etc.
Each business will incur “business expenses”. They are as follows:
1. Rental of booth - $1.00OR $2.00 with electricity
2. Advertising fee - $1.00 for two12 inch by 18 inchsigns and a commercial on the Morning Show. Signs must be approved by the teacher andcannotbe posted prior to Monday, April 29th. Signscannotbe taped to any painted surface.
3. 10% tax on profit
4. Materials and supplies – with creativity you can keep this to a minimum
