TOPEKA, Kan. (KSNT) – Students at Topeka High School are learning what it takes to operate a business and make a profit.
The school’s entrepreneurship class held a “market day” on Thursday during the lunch period.
Students sold everything from macaroni and cheese to fried rice. The goal of the exercise is for students to understand what it takes to operate a business.
“They have an opportunity to run a business for a day and they experience all the headaches and growing pains of working with other people and the stress of organization,” said Topeka High business teacher Murray Moore.
The students were tasked with coming up with a business, doing market research and creating a business plan.
Moore said students pitched their plans to a panel of community members two weeks before the market day. The panel awarded students an interest-free loan which was depend on the strength of the student’s business plan and pitch.
Students that made a profit repaid the loan and split the profits.
The loans are made possible through Youth Entrepreneurs, a non-profit that teaches students about business and entrepreneurship.
Moore said that students learned a lot about how the free-market operates through the exercise.
“I’ve seen a lot of mistakes and a lot of learning,” Moore said. “I’ve seen kids pivot between lunches and make adjustments so that they can correct their mistakes and become profitable.”