Costs, Price, and Profit - Entrepreneurship Example

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Costs, Price, and Profit - Entrepreneurship Example

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Jordan pitches a TagBack name-labeled hoodie to a panel of three investors, beside a box of hoodies - Entrepreneurship lesson plans

Entrepreneurship

Teacher Guide by Aaron Sherman

Students spot a real problem, build a customer persona, test their idea, work out the money, and pitch to investors.

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Entrepreneurship

Spot a Real Problem

Jordan holds a clipboard and asks two classmates in the school cafeteria how often they lose things, in a storyboard for the Spot a Real Problem entrepreneurship activity

Customer Persona

Maya, a busy parent at a store checkout, holds a $10 bill beside a box of TagBack name labels in a customer persona storyboard for an entrepreneurship activity

Customer Journey Map

Maya and Jordan stand in a kitchen putting a name tag on a water bottle, with an instruction sheet on the counter, in a customer journey map entrepreneurship activity

Test Your Assumptions

Jordan and a classmate stand in a laundry room with a red hoodie, ready to test whether TagBack labels survive the washer, in a Test Your Assumptions entrepreneurship activity

Jordan stands in an elevator holding a blue hoodie and a phone, pitching his lost-and-found tag idea to a surprised Maya, in an elevator pitch storyboard for an entrepreneurship activity

Costs, Price, and Profit

Jordan stands on a shop street holding a $10 price tag and sells a family pack of name labels to Maya, who holds a $10 bill, in an entrepreneurship activity on costs, price, and profit.

Go-to-Market Strategy

Jordan stands behind a table with a $10 sign in a school gym while Maya waits beside it at back-to-school night, in a storyboard comparing ways to launch a product

One-Page Business Plan

Jordan stands in a school hallway holding up a blue hoodie with a JORDAN name label next to a classmate, the Solution box of a one-page business plan entrepreneurship activity

Pitch to Investors

Jordan, a student holding a clipboard, presents a rising sales chart to two seated investors in a meeting room, from an investor pitch storyboard for an entrepreneurship activity

Startup Ethics Dilemma

Jordan stands in an office while a man in a grey suit offers him $1,000 for student data, in a storyboard for a startup ethics dilemma entrepreneurship activity

Create a Storyboard

Storyboard Description

TagBack T-chart example: $124 startup costs, $3.50 per-item cost, a $10 price, $6.50 profit per pack, and break-even at 20 packs.

Storyboard Text

Slide: 1
Startup Costs (One Time)
$124
Label printer: $100. QR code website for one year: $24. Total: $124.
Slide: 2
Per-Item Costs (Each Family Pack)
$3.50
25 iron-on labels: $2.50. Envelope and printed instructions: $1.00. Total: $3.50.
Slide: 3
Price and Why
$10
$10 per family pack. Store-bought name labels cost $12–$20, and 31 parents pre-ordered at $10.
Slide: 4
Profit and Break-Even
20 packs
$10 − $3.50 = $6.50 profit per pack. $124 ÷ $6.50 = 19.1, so 20 packs to break even.