The fifth grade students at Andrews Academy in Lake Saint Louis have been learning about business through their successful school store.
The fifth grade students were given the opportunity to transform a small, unused room into something that could enhance the school community. Together, the class decided to use the room to start a store for their school.
The students completed job applications, conducted interviews, and appointed staff to the management, advertising, marketing, sales, and financial teams. They formulated a business plan and presented it to their chief financial officer. They wanted to secure a loan to put the plan into place. The meeting was a success and the students began crafting their store. Every year since the students created their business, the store is passed on to the next year’s fifth grade class. The students continue to conduct research by visiting local stores and talking with sales associates and merchandising managers. The store’s staff make key decisions about store operations such as determining pricing, designing and purchasing merchandise, and staffing the store with employees.
Sales and inventory are tracked through a Google spreadsheet designed by the finance department. The school store has been profitable each year since it was founded by the students. The students are able to develop entrepreneurial skills they can apply to future endeavors.