"After spending many hours doing research via books, videos and the Internet, they were ready to get their feet wet with the real thing," the teacher said. She said entrepreneurs from local businesses came to the class to discuss strategies they used in starting and keeping their businesses successful. Tom Hoffman from McKeller's Market in Mammoth Spring invited the students to his store as well.
"After collaboratively brainstorming on a product to produce, the students decided to sell bags of healthy granola. They named their business Prime Granola," Steed said.
She said the next step for the class was to get busy finding donators and investors to help them get their business started. Wallace and Owens and Wal-Mart in Thayer donated items. There were also investors who loaned money for products.
"After producing their product in an assembly line, they sold the granola to Mammoth Spring Elementary School students during recess. Mayor Pace even came to the school to help them sell their granola at recess one day," the teacher said.
Steed said after paying back their investors, the students made $118 profit. They then took a field trip to Mammoth Spring Bank where branch manager Jim Mills gave them a tour of the bank and discussed the importance of checking and savings accounts. The students opened up a class savings account with their profits.
The class decided part of being responsible citizens was helping the community. "After the mayor told them of the idea she had of putting exercise equipment at the city park they decided this is what they wanted to do with their profits," Steed said.
The high school Beta Club was encouraged by the students and decided to follow suit. They are now planning fund-raisers to buy more equipment for the park. The students have written essays and created power point presentations for their parents and fellow Mammoth Spring students concerning their economics unit.
"They all agreed that their business venture was huge success," the teacher said.