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Market Day

2020 Distance Learning Version

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Hi Everyone, Welcome to Market Day! The 3rd grade students will be

learning about how to take an idea and use that idea to start a

business. The students will be creating a business plan,

creating marketing ideas, working with a budget, designing a

prototype and a storefront, and calculating a profit! We will

be completing this project over the next 2 weeks. I am

recommending that the project is completed by May 15th.

Please send me pictures of the students’ work. I cannot wait

to see what the students come up with!

Thank you and have fun!

Ms. Gardner

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Day 1 Monday, May 4th

-Read steps 1 and 2 in “Steps to Plan Your Business”. Watch Market Day Intro. Lesson:

https://drive.google.com/file/d/18pKyGSMfaMGsvwH-

OlpzaYY2geD3oXXB/view?usp=sharing

Day 2 Tuesday, May 5th

-Complete page 6, “Build Your Business and Marketing Plan”

Day 3 Wednesday, May 6th

-Watch producers and consumers video: https://www.youtube.com/watch?v=PAbBd0UjPzE

Read step 3 in “Steps to Plan Your Business”. Watch Following a Budget Lesson:

https://drive.google.com/file/d/10mpYybRp83AjEz0i4m60ZtJfOWIX73OZ/view?usp=sha

ring

Day 4 Thursday, May 7th

-Shop at Gardner’s Store for materials for your product. Use the budgeting sheets on

pages 7-8 for everything you buy! Do not go over your budget of $300!

Day 5 Monday. May 11th

-Read step 4 in “Steps to Plan Your Business”. Complete page 10 by drawing a picture of

what your product would look like or design your product using materials from home and

take a picture. Look at the example for help. Complete page 11 by designing your

storefront. Make sure you are following the “what you need to have on your board”

checklist. Look at the example for help.

Day 6 Tuesday, May 12th

Watch video about businesses in communities: https://www.youtube.com/watch?v=N8i-

S9rV5hgRead Read Step 5 in “Steps to Plan Your Business”. Watch How to Calculate Your

Profit Zoom Lesson:

https://drive.google.com/file/d/108CCb14e4TJnNDuoOSGcGDSn3Rrn2Dyg/view?usp=shar

ing

Day 7 Wednesday, May 13th

-Complete pages 12 and 13 by calculating your business’ profit! *Your answers will most

likely be different then mine. Do not copy my math, use it as an example!

Day 8 Thursday, May 14th

-Review your project and make sure each step is complete!

Market Day Outline:

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STEPS TO PLAN YOUR BUSINESS

STEP 1: Make a Business Plan

What is a business plan?

• A business plan explains the idea you have for the product, how you will make

the product, and how you will make money or a profit.

Why do I need this for my business?

• It is your road map or GPS for how you will run your business.

STEP 2: Make a Marketing Plan

Why is Marketing Important?

• It makes your costumers want to buy your product.

• You can market your product by having great prices and advertising it

powerfully.

Some companies use pictures, animals, slogan, or symbols to market

their products

• Examples:

o Target: Uses a Symbol and an Animal

o Nike: Uses their slogan and a symbol

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What is a Slogan?

• Slogan- a word or phrase used by a business to attract customers.

o **It helps costumers remember your business!

• Some examples are:

o Nike: "Just Do It"

o Dunkin' Donuts: "America Runs on Dunkin"

o McDonald's: "I'm Lovin' It"

o State Farm: "Like a Good Neighbor, State Farm is There”

STEP 3: Having a Budget

Budgeting is helpful to make sure you have enough money to buy what you

NEED and to see if you have EXTRA MONEY for what you WANT! You are

pretending that you saved up $300 to buy the materials to make your

product.

Step 4: Prototype and Storefront Design

You will be making a prototype, or a model, of your product. You can create this

using materials you have at home or creating a drawing. You are also going to draw

out a design for your storefront. The storefront is the first thing that customers

will see, so you really want to catch their eye with your advertizing!

Step 5: Figuring out Your Profit

A profit is the total amount of money you made from your business. After you sell

your items, you will need to figure out how much money your product made and how

much your expenses cost to figure out your profit.

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BUILD YOUR BUSINESS AND MARKETING PLAN

Directions: Answer the following questions about your business. Draw out your plan

for marketing your product.

1. What is the name of your business?

___________________________________

2. What product will you be selling?

____________________________________________

3. Why should people buy your product?

______________________________________________________________

______________________________________________________________

4. How much are you going to charge for your product?

______________________________________________________________

5. How will you advertise your product? Will you use a symbol, animal, or a

slogan? Draw your ideas in the box below.

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BUDGETING

Directions: You have saved up $300 to use to buy materials for your product. Now you will

need to budget for what your business NEEDS to buy the products from the store.

You are planning to make 100 total of the product that you chose. If you chose to

make two products you will make 50 of the first product and 50 of the second to

equal a total of 100. (DO NOT MAKE 100 OF YOUR PRODUCT. YOU WILL

ONLY HAVE TO MAKE 1 OR A PROTOTYPE.)

Item Amount I Need Total Cost Subtract Total Cost from

the Amount of Money

You Have (You are

starting with $300)

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BUDGETING CONTINUED

*This is an extended budget sheet if you need more room.

Item Amount I Need Cost Subtract Total Cost from

the Amount of Money

You Have

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List of Prices

Gardner’s Store

Plain paper

50 pieces

for $1.00

Construction

paper

50 pieces for

$2.00 Cloth

$3.00 per

yard

Felt

50₵ per

piece

String

$1.00 per

color

Beads

100 beads

for $2.00

Paint

$3.00 per

bottle

Clay (hardens so

you can paint it)

$2.50 per lump

Small picture frame

75₵ each

Popsicle Sticks

20 for $1.00

Pom-poms

50 for $1.00

Ball of yarn

50₵ each

Knitting

Needles

$1.00

Glitter

50₵ per bottle

Art Supply Kit-Includes scissors,

glue, markers, and crayons

$10.00

Glass Jars

50₵ each

Stickers

5 sheets for $1.00

Foam Stickers

1 container for

$3.00

Pipe Cleaners

50 pieces for

$2.00

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My Prototype

A prototype is an example or a model of something that you plan on

creating. Please make a drawing or put a picture of a prototype for

your product.

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STOREFRONT DESIGN

Directions: Design what your storefront below. Follow the checklist.

What you need to have on your storefront. Put a check next to it when you

have it.

• Name of your business at the top______

• Slogan and advertisement (animal, symbol, or both) ______

• (Example of product or information about what you are selling) ______

• Cost of your product ______

• *Include any designs you want to make.

Profit

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Congratulations! You have received 100 orders for your product! Now it is

time to figure out what your profit is. Your profit is how much money you

make, minus the expenses. There are certain steps you must take to figure

out what your profit is.

Step 1: Figure out how much money you have from selling your product.

For this step, you need to multiply the number of products you sold and how

much your products cost.

Number of items you sold x What your product costs

So, if your product costs $3.00 you would multiple $3.00 and 100 because

you sold 100 items. *You can use a calculator if you need to.

Write how much money you have from selling your product $________

Step 2: You need to add up all of the costs you made buying materials

to make your product.

How much money did you spend making the product? __________

Step 3: You need to subtract your expenses (the amount of money you

spent making your product) from the amount of money you made from

selling your product.

Example: If I made $600 and spent $200, my subtraction problem would be:

$600-$200=$400.

The answer is your profit. So, my profit would be $400.

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**YOU MIGHT NOT MAKE A PROFIT. IF YOU SPENT MORE MONEY THEN

YOU MADE YOU WILL NOT HAVE A PROFIT, AND YOU WILL NOT BE ABLE

TO DO THE SUBTRACTION PROBLEM.

What’s your Profit?

Show your work:

Did you make a profit? Yes No

If you made a profit, how much did you make? $_________