Free Enterprise

This year, Will is in the GT class at school. The class meets once a week, and it really seems to be the only thing Will enjoys about school. The kids have been studying free enterprise. This is an excerpt from the GT newsletter explaining the unit:

The children have been introduced to the world of Free Enterprise by becoming entrepreneurs themselves. During this course of study the children will be involved in creating a plan to run a place of business whether it be a manufacturer, retailer or providing a service. They will be given the opportunity to become a sole proprietor, a partnership or a cooperation. The children will be guided through the process of becoming an entrepreneur by learning how to obtain a loan, track expenses, purchase raw materials, find the best location for their business and how to advertise for their particular product or service. To conclude the study, the children will open their business for consumers to purchase these goods using actual money. The profit made from each business will then be donated to a local charity that each class has designated.

A few months ago, Will come home with an assignment to work with his family to brain storm ideas for his business. It was interesting, as the parent, to try to balance the ideas I had with the encouragement for him to come up with his own thoughts. In the end, he and another boy decided to make gaming posters and sell them (all the students manufactured and sold products.) The name of their business is Game Galaxy, Will's role is the entrepreneur and his buddy Luke is the business manager. Today, the businesses were all open for sales and the parents were invited to attend the Grand Openings. Allen stopped by, took some pictures, and bought a Game Galaxy Hint -- a sealed envelope with a clue inside of how to get more points in a Wii game. Though I was cutting it close and almost didn't make it because Ben's well-kid check up lasted a bit longer than planned, Ben and I did get to go. Will was excited to see us, and I was glad to get a chance to see this project he has been talking about.

Next week, the kids wrap up the unit by filling out their cash flow sheets and figuring out if they can pay off their business loans (for the poster supplies, advertising expenses, and rent of the space, table, and chairs.) I am amazed at the details they are exploring as second-graders!

Will has been having behavior issues with his regular teacher, but his GT teacher she said that the self-paced, challenging class is a great fit for Will and she hasn't had any problems with him. After such a tough week, it was very encouraging to hear that -- especially since he does love her class.