The Shark Tank Challenge Nancy OConnor Wantagh Middle

“The Shark Tank” Challenge! Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools. org

8 th Grade Business Management Class Students in this class: run the School Store. learn about entrepreneurship. create the logo, slogan, price list, business cards, and radio commercials for the School Store. conduct market research, buy new products, and advertise them to the student body.

Business Organization Students may choose to work by themselves or form a new business with 1 – 2 other students (no more than 3 students) Students may organize their new business as a sole proprietorship. partnership. corporation. non-profit organization.

Judges Approximately 9 -12 business owners from community Most of these judges have served as guest speakers throughout the semester and are familiar with the students Positive role models

Business Cards & Introduction Students create in MS Publisher Make enough copies to place on storyboard and present one to each judge in first and final rounds Students must introduce themselves to each judge at beginning of each round Students will clearly state their name Students will give each judge a firm, business-like handshake Students will make eye contact while speaking to judges

Storyboard

Power. Point Presentation

Elevator Pitch! Use the last 60 -minutes to summarize your main selling points of your business! WHY should they invest in YOUR company above all the rest?

Students are encouraged to speak with passion. work as a team. make an oral presentation without reading from slides.

Questions from Judges STUDENTS MUST BE PREPARED FOR ANY OF THESE QUESTIONS TO BE ASKED AFTER THEIR PRESENTATION!!! What was the biggest challenge you faced in creating your business? How did you overcome this challenge? Where do you see your business in five years from now? Ten years from now? If you had unlimited funds, what would you add to your business? What special feature(s) makes your business unique from any other? How do you intend to increase sales after year one?

Judging Rubric

Prizes for Photo Op/Recruitment FOUR GIANT CHECKS DISTRIBUTED FOR PHOTO OP: (These checks were purchased with the NYSBTA Innovations Grant. ) Platinum, $100, 000 to invest in business Gold, $75, 000 to invest in business Silver, $50, 000 to invest in business Bronze $25, 000 to invest in business

Prizes for students!* Every student receives a $5 gift card Every student receives a participation certificate 1 st place (Platinum) = $25 gift card to each team member (i. e. i. Tunes, Subway, movies, etc. ) 2 nd place (Gold) = $20 gift card to each team member 3 rd place (Silver) = $15 gift card to each team member 4 th place (Bronze) = $10 gift card to each team member *Profits from our school store are used to purchase prizes. However, you can solicit money/prizes from judges.

Thank you for your time! If you are interested in starting a project like this and need more information and/or help, please send an email to me at oconnorn@wantaghschools. org. Best of luck! Nancy O’Connor, Business Education Teacher Wantagh Middle School