Toys by Teens, LLC was formed by the not-for-profit group Teen Entrepreneur Boot Camp to create a real-working business model to teach students about entrepreneurship. Dr. Howard Wexler, inventor of the game Connect Four, donated a new invention to the project for the students to launch into the marketplace. The eventual revenue earned from sales will be used to offer this free program to new teams of students.
Wednesday, July 28, 2010
Ground Booty: Day 7
Today we started fast and got down to business. We are all tired, but we are motivated to finish what we started. We set up the projector and began plugging in numbers. We started a moch business plan. We had to take into account insurance, taxes, employees, products, and rent. We did what we could saving the rest for tomorrow. After lunch a professional franchiser came to talk to us about what it takes to make a business go from a small corner store to a large franchise. He was an extremely interestng and fun guy. Once more we split into groups. A large group went to harass every day people to give our elevator pitch and hand out flyers. They say that was really great and fun! Another group looked up licenses and permits needed to start a business. They also looked up starbucks and dunkin donuts barista wages. A third group went to martha stewarts office and actually saw her!!! JEALOUSY! The end of the day was the best! Our espresso machine came! We began to set up our bar to figure out where we wanted to put the machine! It was 5:00 so quickly and we had to call it a day.
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