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

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Page 1: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

“The Shark Tank” Challenge!

Nancy O’ConnorWantagh Middle School

[email protected]

Page 2: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

8th Grade Business Management ClassStudents 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.

Page 3: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

Business OrganizationStudents 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 asole proprietorship.partnership.corporation.non-profit organization.

Page 4: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

JudgesApproximately 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

Page 5: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

Business Cards & IntroductionStudents create in MS PublisherMake enough copies to place one 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 nameStudents will give each judge a firm, business-

like handshakeStudents will make eye contact while speaking to

judges

Page 6: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

StoryboardPresentation board should include the following categories:

○Name of business prominently displayed

○Business Card

○Location

○Charity Event Flyer

○Mission Statement

○Grand Opening Flyer

○Logo

○Slogan

○Price List

○Additional pictures related to your business

Page 7: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

PowerPoint PresentationSlide 1: Name of business and your name How did you decide on name for your business? Slide 2: Location and size of the store (compare to the size of a store that w e’re all familiar w ith) . Slide 3: Descr iption of Business AND Mission statement Slide 4: Logo and Slogan Slide 5: Type of products/services w ith pr icing (at least 10) Slide 6: Target Market - age, gender, education, l ifestyle, income, opinions, etc. Slide 7: Type of Ow nership & definition w ith 3 advantages (Sole Propr ietor, Partnership, Corporation) Slide 8: Personnel (Titles/Duties) and w hat are you going to look for w hen hir ing new associates. Slide 9: Start-up costs/Capital Add up costs and give total money ask ing for .

Where w ill you get money to start business? (Savings, family, fr iends, loans)

Slide 10: List competition (at least 3) What makes your business unique? What w ill make you better than your competitors?

Slide 11: SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)

Slide 12: Radio Commercial (60 seconds)

Page 8: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

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?

Page 9: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

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

Page 10: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

Questions from JudgesSTUDENTS 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?

Page 11: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

Judging RubricCATEGORY POINTS COMMENTS

Introduction (5 pts.) Handshake Spoke clearly Eye contact and smile

Business Card (5 pts.) Design & Layout Includes business name, associate name, title,

address, phone, email, logo, slogan.

PowerPoint (20 pts.) Design & Layout Clear, concise (key concepts only - not too

wordy) Spelling/Grammar

Radio Commercial (10 pts) 45-60 seconds Purpose of commercial Detailed main features of business/grand opening

Charity Event (10 pts.) How project is explained How it will be carried out Portion of sales/event that will be used to give

back

Grand Opening Event (10 pts.) Time, date, location are clear Special event is unique and well planned

Price List (10 pts.) Clear, concise, easy-to-read Includes logo, slogan, products/services with

prices clearly defined

Story Board (10 pts.) Includes logo, slogan, location, business card(s),

charity event, grand opening event, price list Layout is visually appealing

Team Appearance (5 pts.) Proper attire Neat

Overall Presentation (15 pts.) Team members worked well together All members participated equally Successfully presented a business idea Enthusiastic, passionate, believes in success of

business

TOTAL SCORE (Out of 100 pts.)

Page 12: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

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

Page 13: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

Prizes for students!*Every student receives a $5 gift card Every student receives a participation certificate

1st place (Platinum) = $25 gift card to each team member (i.e. iTunes, Subway, movies, etc.)

2nd place (Gold) = $20 gift card to each team member

3rd place (Silver) = $15 gift card to each team member

4th 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.

Page 14: Nancy O’Connor Wantagh Middle School oconnorn@wantaghschools.org

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 [email protected].

Best of luck!

Nancy O’Connor, Business Education TeacherWantagh Middle School